Default and Cure. Upon a Breach, the non-breaching Party shall give written notice of such Breach to the breaching Party (the “Default Notice”). Subject to a suspension of the following deadlines as specified below, the breaching Party shall have thirty (30) calendar days from receipt of the Default Notice within which to cure such Breach; provided however, that if such Breach is not capable of cure within thirty (30) calendar days, the breaching Party shall commence such cure within thirty (30) calendar days after notice and continuously and diligently complete such cure within ninety (90) calendar days from receipt of the Default Notice; and, if cured within such time, the Breach specified in such notice shall cease to exist. Subject to the limitation specified in the following sentence, if a Breach is not cured as provided in this Section 11, or if a Breach is not capable of being cured within the period provided for herein, the nonbreaching Party shall have the right to declare a default and terminate this Agreement by written notice at any time until cure occurs, and be relieved of any further obligation hereunder. The deadlines for cure and the right to declare a default and terminate this Agreement shall be suspended during the pendency of any efforts or proceedings in accordance with Section 18 of this Agreement to resolve a dispute as to whether a Breach has occurred or been cured. The provisions of this Section 11 will survive termination of this Agreement.
Default and Cure. In the event that either party hereto defaults in the performance of any of its material duties or obligations under this Agreement, including failure to make any payments due under this Agreement, and such default is not cured within five (5) days after written notice is given to the defaulting party specifying the default, then the party not in default, after given written notice thereof to the defaulting party, may terminate this Agreement.
Default and Cure. If either of the parties to this Agreement defaults in the performance of its duties or obligations under this Agreement, and such default has a material effect on the other party, then the non-defaulting party may give notice to the defaulting party specifying the nature of the default in sufficient detail to permit the defaulting party to identify and cure the default within thirty (30) days of receipt of such notice, or within such longer periods as the parties may agree is necessary for such cure. If the defaulting party fails to cure the default within the 30-day cure period (or such other time as agreed to by the parties, then the non-defaulting party may terminate this Agreement immediately upon written notice to the defaulting party.
Default and Cure. In the event a Party to this Agreement, fails or refuses to perform its respective obligations under this Agreement in a timely manner, then one Party may give Notice hereunder to the defaulting Party of default hereunder (“Default Notice”). Said Default Notice shall set forth with sufficient specificity and particularity the details of said default. The Party to whom said Default Notice is given shall have Thirty (30) days from the date of the delivery of the Default Notice to either (a) cure the deficiencies set forth in the Default Notice or (b) give written Reply to the Notice setting forth with particularity the reasons for the nonexistence of default or inability to cure the default(s). In the event the default(s) is not cured and the Parties cannot resolve their dispute through negotiations within Thirty (30) days of the Reply, then the Parties shall submit the dispute to binding arbitration under this Agreement.
Default and Cure. Notwithstanding the remainder of this Assignment Agreement, there shall be no cure period allowed the Bank in the event of termination of the REPA by Consumers pursuant to Sections 5.3 and 10.1 thereof.
Default and Cure. If a party (the “Defaulting Party”) fails to comply with any material term or condition of this Agreement, the other party (the “Non-Defaulting Party”) may provide written notice to the Defaulting Party stating the nature of such failure (the “Default Notice”). If the Default Notice relates to (i) a failure by the Defaulting Party to pay any amount due and payable to the Non-Defaulting Party and the Defaulting Party fails to pay such sum within 15 days after receipt of the Default Notice or (ii) a failure by Defaulting Party to comply with any material term or condition of this Agreement, other than the payment of money hereunder, and such failure is not cured within 30 days after the Defaulting Party’s receipt of the Default Notice, or in the event of a cure which requires in excess of 30 days to complete, if the Defaulting Party has not commenced such cure within such 30 day period and thereafter does not diligently prosecute the cure to completion, the Non-Defaulting Party shall be entitled to either suspend or terminate this Agreement. If the default arises from a failure of Buckeye to deliver Products in accordance with the terms of this Agreement, RMI (without prejudice to other rights and remedies) may in its sole discretion purchase substitute aggregates from other sources unless and until the default is cured as provided herein.
Default and Cure. In the event some Party fails or refuses to perform its obligations under this Agreement in a timely manner, then the other Party may give notice to such other Party of default hereunder. Said notice shall set forth with sufficient specificity and particularity the details of said default. The Parties to whom said default notice is given shall have thirty (30) days from the date of the delivery of the notice to either (a) cure the deficiencies set forth in the notice or (b) give written reply to the notice setting forth with particularity the reasons for the nonexistence of default or inability to cure the default(s). In the event the Party receiving notice of default does not cure such default or set forth reasons for the nonexistence of default by thirty (30) calendar days from the date of delivery of the notice, the defaulting Party will be deemed in breach of this Agreement. Upon breach of this Agreement, the non-breaching Party shall have the right to rescind this Agreement and the transactions contemplated by it. In the event this Agreement is rescinded, the Parties shall take such actions as necessary to give effect to such rescission.
Default and Cure. In the event of any default or claimed default hereunder, the non-defaulting party shall give written notice of default hereunder to the defaulting party, specifying with reasonable detail the nature of the claimed default. The defaulting party shall have sixty (60) days to remedy such default, except in the cure of any default in making an annual payment, which cure period shall be thirty (30) days after the date of delivery of the notice of default. In the event that a default cannot be cured within sixty days, but cure is commenced, cure may be completed if pursued with steady effort and diligence. In the event that a default is material to the Option, and cure is not completed or commenced within the period provided, the non-defaulting party may declare the agreement to be terminated. In the event that a claimed defaulting party maintains in writing that there is no default, and the party claiming the default does not agree, either party may initiate arbitration over the issue of the existence of a default, such arbitration to be conducted in Denver, Colorado, under the Commercial Arbitration Rules of the American Arbitration association. The costs, expenses and fees for the arbitration shall be paid by or attributable to the non-prevailing party, and may be awarded by the arbitrator. If the arbitrator rules that a default exists, the period for curing the default shall run from the date of the issuance of the final ruling of the arbitrator. The parties specifically agree that any dispute over the correct calculation of royalty amounts or expenditures on work programs shall be arbitrable events in the event that the parties cannot first agree on their resolution, and that any dispute as to the making of a required annual payment (other than disputes as to timeliness) shall not be an arbitrable event. Either party may enforce an arbitration award in the forum provided herein as the judicial forum for the resolution of disputes.
Default and Cure a) Company’s failure to comply with any provision of this Agreement shall constitute a breach of the Agreement, a violation of the order of the Participating States and a violation of the Agreement with the Participating States and shall subject the Company to such administrative and enforcement actions and penalties as each Participating State deems appropriate, consistent with each Participating State’s respective Insurance Laws in effect at the time the failure occurred.
b) Any agreement on the part of any Party hereto, to any extension or waiver shall be valid only if in writing signed by the Party granting such waiver or extension and, unless expressly provided otherwise, shall be a one-time waiver or extension only by the signatories to the waiver, and any such waiver or extension or any other failure to insist on strict compliance with any duty or obligation herein shall not operate as a waiver or extension of, or estoppel with respect to, any continuing, subsequent or other failure to comply with this Agreement.
c) If a Settling Jurisdiction believes that the Company has breached a provision of this Agreement or that the Company has made a misrepresentation in this Agreement or during the conduct of the Monitoring Period, such Settling Jurisdiction shall provide written notice of the alleged breach to the Company and the Lead States that the breach has occurred. The Company shall have the opportunity, within twenty-one (21) calendar days of receipt of such notice, to present evidence in writing and through appearance before the complaining jurisdiction’s regulator in an attempt to rebut the allegations(s) or to seek an extension to address the alleged breach. An extension to address an alleged breach is not guaranteed and does not prohibit further sanctions if warranted. A Settling Jurisdiction should not pursue any enforcement action as set forth in this Section against the Company until the twenty-one (21) calendar day response period described above has expired unless immediate action is needed to prevent consumer, provider, or market harm.
Default and Cure. Except as set forth in Section 12.2, a party shall not be in default under this Agreement unless and until the other party provides it written notice of a material default and the first party shall have failed to cure the same within fourteen (14) calendar days after receipt of such notice; provided, however, that where a material default cannot reasonably be cured within such fourteen (14) day period, if the first party shall proceed promptly to cure the same and prosecute such curing with due diligence, the time for curing such default shall be extended for such period of time as may be necessary to complete such curing. Any event of default may be waived at the non-defaulting party’s option. Upon any failure of a party to timely cure any material default after notice thereof from the other party and expiration of the above cure periods, then the non-defaulting party may, subject to the terms of Articles XIV (Limitation of Liability); (i) take such action as the non- defaulting party deems necessary and appropriate to remedy and cure the default at the expense of the defaulting party; (ii) as to PROVIDER, suspend its performance under this Agreement in accordance with and subject to Section 12.2; (iii) as to any monetary obligation of the defaulting party, enforce payment thereof, including interest as provided herein together with reimbursement of reasonable attorney’s fees expended in the collection of the amounts due; and/or (iv) take any other action expressly authorized for such default pursuant to the terms of this Agreement.
