Common use of Company Default Clause in Contracts

Company Default. Company shall be in default of this Agreement (each, a “Company Default”): (a) upon an Event of Bankruptcy with respect to Company or (b) if Company is in material breach of any of its obligations under this Agreement, and Company fails to cure such breach within thirty (30) days (or ten (10) days for an obligation to pay any undisputed sums of money owed) following delivery to Company of a notice from Operator stating with reasonable particularity the nature and extent of such material breach or if a remedy cannot be effected within such initial thirty (30)-day period, an additional reasonable period no longer than ninety (90) days, provided that Company has commenced pursuit of a remedy within the initial thirty (30)-day period and diligently pursues such remedy to completion.

Company Default. The Company shall be in default of this Agreement (each, a “Company Default”): ) (a) upon an Event of Bankruptcy with respect to Company the Company; or (b) if the Company is in material breach of any of its obligations under this Agreement, and the Company fails to cure such breach within thirty (30) days (or ten (10) days for an obligation to pay any undisputed sums of money owed) following delivery to the Company of a notice from Operator stating with reasonable particularity the nature and extent of such material breach Company Default or if a remedy cannot be effected within such initial thirty (30)-day 30-day period, an additional reasonable period no longer than ninety (90) days, provided that the Company has commenced pursuit of a remedy within the initial thirty (30)-day 30) day period and diligently pursues such remedy to completion.