Common use of Default and Notice Clause in Contracts

Default and Notice. (A) Any Party that fails to: (1) pay when due its share of Joint Account expenses (including cash advances and interest); or (2) obtain and maintain any Security required of such Party under the Contract or this Agreement; shall be in default under this Agreement (a “Defaulting Party”). Operator, or any non-defaulting Party in case Operator is the Defaulting Party, shall promptly give notice of such default (the “Default Notice”) to the Defaulting Party and each of the non-defaulting Parties. (B) For the purposes of this Article 8, “Default Period” means the period beginning five (5) Business Days from the date that the Default Notice is issued in accordance with this Article 8.1 and ending when all the Defaulting Party’s defaults pursuant to this Article 8.1 have been remedied in full.

Default and Notice. (A) Any Party that fails to: (1) pay when due its share of Joint Account expenses (including cash advances and interest); or (2) obtain and maintain any Security required of such Party under the Contract or this Agreement; shall be in default under this Agreement (a “Defaulting Party”). Operator, or any non-defaulting Party in case Operator is the Defaulting Party (the “Notifying Party, ”) shall promptly give notice of such default (the “Default Notice”) to the Defaulting Party and each of the non-defaulting Parties. (B) For the purposes of this Article 8, “Default Period” means the period beginning five (5) Business Days from the date that the Default Notice is issued in accordance with this Article 8.1 and ending when all the Defaulting Party’s defaults pursuant to this Article 8.1 have been remedied in full.

Default and Notice. (A) Any Party that fails to: (1) pay when due its share of Joint Account expenses (including cash advances and interest); or (2) obtain and maintain any Security required of such Party under the Contract or this Agreement; shall be in default under this Agreement (a “"Defaulting Party”"). Operator, or any non-defaulting Party in case Operator is the Defaulting Party, shall promptly give notice of such default (the “"Default Notice”") to the Defaulting Party and each of the non-defaulting Parties. (B) For the purposes of this Article 8, “"Default Period” " means the period beginning five (5) Business Days from the date that the Default Notice is issued in accordance with this Article 8.1 and ending when all the Defaulting Party’s 's defaults pursuant to this Article 8.1 have been remedied in full.

Default and Notice. (A) Any Party that fails to: (1) pay when due its share of Joint Account expenses (including cash advances and interest); or (2) obtain and maintain any Security required of such Party under the Contract or this Agreement; shall be in default under this Agreement (a “"Defaulting Party”"). Operator, or any non-defaulting Party in case Operator is the Defaulting Party, shall promptly give notice of such default (the “"Default Notice”") to the Defaulting Party and each of the non-defaulting Parties. (B) For the purposes of this Article 8, “"Default Period” " means the period beginning five (5) Business Days from the date that the Default Notice is issued in accordance with this Article 8.1 and ending when all the Defaulting Party’s defaults pursuant to this Article 8.1 have been remedied in full.