Contractor's Right to Correct a Default Clause Samples

Contractor's Right to Correct a Default. .01 The Contractor shall have the right within the 5 full Working Days following the receipt of a notice of default to correct the default and provide the Owner with satisfactory proof that appropriate corrective measures have been taken. .02 If the correction of the default cannot be completed within the 5 full Working Days following receipt of the notice, the Contractor shall be in compliance with the Owner’s instructions if the Contractor, a) commences the correction of the default within the 5 full Working Days following receipt of the notice; b) provides the Owner with an acceptable schedule for the progress of such correction; and c) completes the correction in accordance with such schedule.