Common use of Cure of an Event of Default Clause in Contracts

Cure of an Event of Default. An Event of Default shall be deemed cured only if such default shall be remedied within the relevant time period, if any, specified in Sections and after Written Notice has been sent to the defaulting Party from the non-defaulting Party specifying the default and demanding that the same be remedied (provided that failure of a Party to provide such notice shall not be deemed a waiver of such default). Notwithstanding the foregoing, in the event of a Supplier Event of Default under Sections , , or or a Buyer Event of Default under Sections , or , if such default is not reasonably capable of cure within the applicable time period specified thereunder but such default is reasonably capable of cure within the additional cure period set forth in this Section , then the default shall not be deemed an Event of Default if the defaulting Party commences to remedy the default within the relevant cure period set forth therein and thereafter diligently pursues such remedy until such default is fully cured; provided, however, that in no event shall such additional period of time for the defaulting Party to effect a cure for any such default exceed sixty (60) days. Notwithstanding anything contained herein, there shall be no additional cure period allowed for a breach by Supplier under Section or by Buyer under Section . Buyer agrees that it shall not terminate this Agreement in respect of any Supplier Event of Default under Section occurring with respect to Supplier, but not Supplier Parent, if Supplier Parent shall have (i) cured in all material respects all such Supplier Events of Default (other than any default under Sections or ) and (ii) if there is then also a Supplier Event of Default under Section or , irrevocably assumed this Agreement and the other Contract Documents. Any such assumption shall be pursuant to a written agreement reasonably acceptable to Buyer. Supplier agrees that it shall not terminate this Agreement in respect of any Buyer Event of Default under Section occurring with respect to Buyer, but not Buyer Parent, if Buyer Parent shall have (i) cured in all material respects all such Buyer Events of Default (other than any default under Sections or ) and (ii) if there is then also a Buyer Event of Default under Sections ‎ or , irrevocably assumed this Agreement and the other Contract Documents. Any such assumption shall be pursuant to a written agreement reasonably acceptable to Supplier.

Cure of an Event of Default. An Event of Default shall be deemed cured only if such default shall be remedied within the relevant time period, if any, specified in Sections and after Written Notice has been sent to the defaulting Party from the non-defaulting Party specifying the default and demanding that the same be remedied (provided that the failure of a Party to provide such notice shall not be deemed a waiver of such default). Notwithstanding the foregoing, in the event of a Supplier Event of Default under set forth in Sections 4.1.2, , 4.1.4 or 4.1.6 or a Buyer Event of Default under set forth in Sections 4.2.3, 4.2.5 or 4.2.7, if such default is not reasonably capable of cure within the applicable time relevant cure period specified thereunder set forth therein, if any, but such default is reasonably capable of cure within the additional cure period set forth in this Section , then the default shall not be deemed an a Supplier Event of Default or a Buyer Event of Default, as applicable, if the defaulting Party commences to remedy the default within the relevant cure period set forth therein and thereafter diligently pursues such remedy until such default is fully cured; provided, however, that in no event shall such additional period of time for the defaulting Party to effect a cure for any such default exceed sixty one hundred twenty (60120) days. Notwithstanding anything contained herein, there shall be no additional cure period allowed for a breach by Supplier under Section 4.1.5 or by Buyer under Section 4.2.6. Buyer agrees that it shall not terminate this Agreement in respect of any Supplier Event of Default under Section occurring with respect to Supplier, but not Supplier Parent, if Supplier Parent shall have (i) cured in all material respects all such Supplier Events of Default (other than any default under Sections 4.1.3 or 4.1.4) and (ii) if there is then also a Supplier Event of Default under Section Sections 4.1.3 or 4.1.4, irrevocably assumed this Agreement and the other Contract Documents. Any such assumption shall be pursuant to a written agreement reasonably acceptable to Buyer. Supplier agrees that it shall not terminate this Agreement in respect of any Buyer Event of Default under Section occurring with respect to Buyer, but not Buyer Parent, if Buyer Parent shall have (i) cured in all material respects all such Buyer Events of Default (other than any a default under Sections 4.2.4 or 4.2.5) during the applicable cure period, and (ii) if there is then also a Buyer Event of Default under Sections ‎ 4.2.4 or 4.2.5, irrevocably assumed all of Buyer’s rights and obligations under this Agreement and the other Contract Documents. Any such assumption shall be pursuant to a written agreement reasonably acceptable to Supplier.

Cure of an Event of Default. An Event of Default shall be deemed cured only if such default shall be remedied within the relevant time period, if any, specified in Sections and after Written Notice has been sent to the defaulting Party from the non-defaulting Party specifying the default and demanding that the same be remedied (provided that failure of a Party to provide such notice shall not be deemed a waiver of such default). Notwithstanding the foregoing, in In the event of a Supplier Event of Default under Sections 16.1.1, , 16.1.4 or 16.1.7 or a Buyer Event of Default under Sections 16.2.2, 16.2.4, or 16.2.7, if such default is not reasonably capable of cure within the applicable time period specified thereunder but such default is reasonably capable of cure within the additional cure period set forth in this Section 16.3, then the default shall not be deemed an Event of Default if the defaulting Party commences to remedy the default within the relevant cure period set forth therein and thereafter diligently pursues such remedy until such default is fully cured; provided, however, that in no event shall such additional period of time for the defaulting Party to effect a cure for any such default exceed sixty (60) _____* days. Notwithstanding anything contained herein, there shall be no additional cure period allowed for a breach by Supplier under Section or by Buyer under Section . Buyer agrees that it shall not terminate this Agreement in respect of any Supplier Event of Default under Section Sections 16.1 occurring with respect to Supplier, but not Supplier Parent, if Supplier Parent (or an Affiliate of Supplier reasonably acceptable to Buyer) shall have (i) cured in all material respects all such Supplier Events of Default (other than any default under Sections 16.1.3 or 16.1.4) and (ii) if there is then also a Supplier Event of Default under Section Sections 16.1.3 or 16.1.4, irrevocably assumed this Agreement and the other Contract DocumentsAgreement. Any such assumption shall be pursuant to a written agreement reasonably acceptable to Buyer. Supplier agrees that it shall not terminate this Agreement in respect of any Buyer Event of Default under Section occurring with respect 16.2 if an Affiliate of Buyer reasonably acceptable to Buyer, but not Buyer Parent, if Buyer Parent Supplier shall have (i) cured in all material respects all such Buyer Events of Default (other than any default under Sections 16.2.3 or 16.2.4) and (ii) if there is then also a Buyer Event of Default under Sections ‎ 16.2.3 or 16.2.4, irrevocably assumed this Agreement and the other Contract DocumentsAgreement. Any such assumption shall be pursuant to a written agreement reasonably acceptable to Supplier.