Default by EarthWatch Clause Samples

Default by EarthWatch. EarthWatch is in default of this Agreement --------------------- ("Default") if EarthWatch: 5.4.1. breaches any material provision of the Agreement, or any resulting contract for a Sensor, and does not commence curing such breach within forty-five (45) days of written notice thereof, or if such breach is not capable of cure within such forty-five (45) day period, undertake and continue diligent efforts to cure, and cure such breach within ninety (90) days; or 5.4.2. seeks protection under any bankruptcy, receivership, creditors arrangement, composition or comparable proceeding, or if any such proceeding is instituted against EarthWatch and is not dismissed within sixty (60) days, or if EarthWatch shall admit, before a court of law, its inability to pay its debts as such debts become due .