Common use of Cure and Default Clause in Contracts

Cure and Default. Upon the occurrence of an event of Breach, the non-Breaching Party, when it becomes aware of the Breach, shall give written notice of the Breach to the Breaching Party and to any other person a Party to this Agreement identifies in writing to the other Party in advance. Such notice shall set forth, in reasonable detail, the nature of the Breach, and where known and applicable, the steps necessary to cure such Breach. Upon receiving written notice of the Breach hereunder, the Breaching Party shall have thirty (30) days, to cure such Breach. If the Breach is such that it cannot be cured within thirty (30) days, the Breaching Party will commence in good faith all steps as are reasonable and appropriate to cure the Breach within such thirty (30) day time period and thereafter diligently pursue such action to completion. In the event the Breaching Party fails to cure the Breach, or to commence reasonable and appropriate steps to cure the Breach, within thirty (30) days of becoming aware of the Breach, the Breaching Party will be in Default of the Agreement. In the event of a Default, the non-Defaulting Party has the right to seek to terminate the Agreement or take whatever action at law or equity as may be permitted under this Agreement. Any termination under this Agreement shall not take effect until FERC either authorizes the termination of this Agreement or accepts written notice of its termination.

Cure and Default. (a) A Breaching Party automatically will be deemed to be in “Default” of this Agreement upon the occurrence of any one of the Events of Breach described in Section 16.1(b) (ii)-(iv) of the Agreement. (b) Upon the occurrence of an event any Event of BreachBreach other than those described in Section 16.1(b) (ii)-(iv), the non-any Party not in breach (hereinafter a “Non- Breaching Party”), when it becomes aware of the any such Event of Breach, shall give written notice of the Event of Breach to the Breaching Party and to any other person a Party to this Agreement identifies in writing to the other Party in advanceParty. Such notice shall set forth, in reasonable detail, the nature of the Breachbreach, and and, where known and applicable, the steps necessary to cure such Breachbreach. Upon receiving written notice of the Breach breach hereunder, the Breaching Party shall have thirty (30) days, days to cure such Breachbreach. If the Breach breach is such that it cannot be cured within thirty such thirty-day (30-day) daystime period, the Breaching Party will commence in good faith all steps as are reasonable and appropriate to cure the Breach breach within such thirty thirty-day (30-day) day time period and thereafter diligently pursue such action to completion. In the event the Breaching Party fails to cure the Breachbreach, or to commence reasonable and appropriate steps to cure the Breachbreach, within thirty such thirty-day (30-day) days of becoming aware of the Breachtime period, the Breaching Party will be in Default “Default” of the Agreement. In . (c) Upon the event occurrence of a Default, the nonany Non-Defaulting Breaching Party has the right to seek to may terminate the Agreement or take whatever action at law or equity as may be permitted under this Agreement. Any termination under this Agreement shall not take effect until FERC either authorizes as to the Breaching Party by providing written notice of termination to the Breaching Party (and to any other Parties), except that where a Default has been disputed by the Breaching Party, termination of this Agreement on account of such Default may not occur absent a final, binding and non-appealable decision by FERC, an arbitrator, or accepts written notice a court of its terminationcompetent authority having jurisdiction, making a determination of said Default.

Cure and Default. Upon the occurrence of an event of Breach, the ---------------- non-Breaching Party, when it becomes aware of the Breach, shall give written notice of the Breach to the Breaching Party and to any other person a Party to this Agreement identifies in writing to the other Party in advance. Such notice shall set forth, in reasonable detail, the nature of the Breach, and where known and applicable, the steps necessary to cure such Breach. Upon receiving written notice of the Breach hereunder, the Breaching Party shall have thirty (30) days, to cure such Breach. If the Breach is such that it cannot be cured within thirty (30) days, the Breaching Party will commence in good faith all steps as are reasonable and appropriate to cure the Breach within such thirty (30) day time period and thereafter diligently pursue such action to completion. In the event the Breaching Party fails to cure the Breach, or to commence reasonable and appropriate steps to cure the Breach, within thirty (30) days of becoming aware of the Breach, the Breaching Party will be in Default of the Agreement. In the event of a Default, the non-Defaulting Party has the right to seek to terminate the Agreement or take whatever action at law or equity as may be permitted under this Agreement. Any termination under this Agreement shall not take effect until FERC either authorizes the termination of this Agreement or accepts written notice of its termination.

Cure and Default. Upon the occurrence of an event of a Breach, the nonParty not in Breach (hereinafter the "Non-Breaching Party") shall, when it becomes upon becoming aware of the Breach, shall give written notice of the Breach to the Breaching Party and to any other person a Party to this Agreement identifies in writing to the other Party in advanceBreach (the "Breaching Party") and (when applicable) the Breaching Party's Lender pursuant to Article 14. Such notice shall set forth, in reasonable detail, the nature of the Breach, and where known and applicable, the steps necessary to cure such Breach. Upon receiving written notice of the Breach hereunder, the Breaching Party shall have thirty (30) days, days to cure such Breach. If the Breach is such that it cannot be cured within thirty (30) days, the Breaching Party will must commence in good faith all steps as are reasonable and appropriate to cure the Breach within such thirty (30) day time period and thereafter diligently pursue such action to completion. In the event the Breaching Party fails to cure the Breach, or to commence reasonable and appropriate steps to cure the Breach, within thirty (30) days of becoming aware of the Breach, the Breaching Party will be in Default of the Agreement. In the event of a Default, the non-Defaulting Party has the right to seek to terminate the Agreement or take whatever action at law or equity as may be permitted under this Agreement. Any termination under this Agreement shall not take effect until FERC either authorizes the termination of this Agreement or accepts written notice of its termination.

Cure and Default. 15.4.1 A Party automatically will be deemed to be in “Default” of this Agreement upon the occurrence of any one of the events described in Sections 15.2.2 of the Agreement. 15.4.2 Upon the occurrence of an any event of Breachbreach other than those described in Section 15.2.2, the nonParty not in breach (hereinafter the “Non-Breaching Party”), when it becomes aware of the Breachany such breach, shall give written notice of the Breach breach to the Breaching Party and to any other person a Party to this Agreement identifies in writing to the other Party in advanceParty. Such notice shall set forth, in reasonable detail, the nature of the Breachbreach, and where known and applicable, the steps necessary to cure such Breachbreach. Upon receiving written notice of the Breach breach hereunder, the Breaching Party shall have thirty (30) days, days to cure such Breachbreach. If the Breach breach is such that it cannot be cured within thirty such thirty-day (30-day) daystime period, the Breaching Party will commence in good faith all steps as are reasonable and appropriate to cure the Breach breach within such thirty thirty-day (30-day) day time period and thereafter diligently pursue such action to completioncompletion within ninety (90) days from the receipt of the breach notice. In the event the Breaching Party fails to cure the Breach, breach or to commence reasonable and appropriate steps to cure the Breach, breach within thirty such thirty-day (30-day) days of becoming aware of time period, or the BreachBreaching Party fails to cure the breach within the ninety-day (90-day) time period, the Breaching Party will be in Default “Default” of this Agreement. 15.4.3 Upon the Agreement. In the event occurrence of a Default, any Non-Breaching Party may, subject to the non-Defaulting Party has the right to seek to limitations contained in Article 16, terminate the Agreement or take whatever action at law or equity as may be permitted under this Agreement. Any termination under this Agreement shall not take effect until FERC either authorizes as to the Breaching Party by providing written notice of termination to the Breaching Party, except that where a Default has been disputed by the Breaching Party, termination of this Agreement on account of such Default may not occur absent a final, binding and non-appealable decision by FERC, a Governmental Authority, an arbitrator, or accepts written notice a court of its terminationcompetent authority having jurisdiction, making a determination of said Xxxxxxx.

Cure and Default. Upon the occurrence of an event of Breach, the non-Breaching Party, when it becomes aware of the Breach, shall give written notice of the Breach to the Breaching Party and to any other person a Party to this Agreement identifies in writing to the other Party in advance. Such notice shall set forth, in reasonable detail, the nature of the Breach, and where known and applicable, the steps necessary to cure such Breach. Upon receiving written notice of the Breach hereunder, the Breaching Party shall have thirty (30) days, days to cure such BreachBreach except for a breach resulting from a failure to make payment under Section 21.2(i). If the Breach is such that it cannot be cured within thirty (30) days, the Breaching Party will commence in good faith all steps as are reasonable and appropriate to cure the Breach within such thirty (30) day time period and thereafter diligently pursue such action to completion. In the event the Breaching Party fails to cure the Breach, or to commence reasonable and appropriate steps to cure the Breach, within thirty (30) days of becoming aware of the Breach, or immediately in the case of a failure to pay any amount when due, the Breaching Party will be in Default of the Agreement. In the event of a Default, the non-Defaulting Party has the right to seek to terminate the Agreement or take whatever action at law or equity as may be permitted under this Agreement. Any termination under this Agreement shall not take effect until FERC either authorizes the termination of this Agreement or accepts written notice of its termination.