Common use of Default by Licensee Clause in Contracts

Default by Licensee. (a) It is mutually agreed that Licensee shall be in default hereunder (“Default”), (i) if Licensee fails to comply with any of the terms or provisions of this Agreement, and fails to cure such default within 30 days after the date of delivery of written notice of default from Licensor, provided that if the nature of such default is such that it cannot be cured by the payment of money and reasonably requires more than 30 days to cure, then Licensee shall not be deemed to be in Default under this License if Licensee commences such cure within 30 days of the aforesaid notice from Licensor and thereafter diligently prosecutes such cure to completion within 90 days of the aforesaid notice from Licensor; o (ii) during the occurrence and continuation of any Default (as defined in the Lease) under the Lease. (b) In the event of any Default by Licensee hereunder, Licensor shall be entitled to all rights and remedies provided for Landlord under the Lease, and all other rights and remedies provided at law or in equity, including without limitation, the right to terminate this Agreement and the license granted hereunder.

Default by Licensee. (a) It is mutually agreed that Licensee shall be in default hereunder (“Default”), (i) if Licensee fails to comply with any of the terms or provisions of this Agreement, and fails to cure such default within 30 days after the date of delivery of written notice of default from Licensor, provided that if the nature of such default is such that it cannot be cured by the payment of money and reasonably requires more than 30 days to cure, then Licensee shall not be deemed to be in Default under this License if Licensee commences such cure within 30 days of the aforesaid aforesaid, notice from Licensor and thereafter diligently prosecutes such cure to completion within 90 days of the aforesaid notice from Licensor; oor (ii) during the occurrence and continuation of any Default (as defined in the Lease) under the Lease. (b) In the event of any Default by Licensee hereunder, Licensor shall be entitled to all ail rights and remedies provided for Landlord under the Lease, and all other rights and remedies provided at law or in equity, including without limitation, the right to terminate this Agreement and the license granted hereunder.