Common use of Default and Cure Clause in Contracts

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. If either of the parties to this Agreement defaults becomes in default 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 such 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. Such opportunity to cure shall include the Transfer Agent taking commercially reasonable steps to make the DST Systems Year 2000 Ready Products.