Common use of Default by Manager Clause in Contracts

Default by Manager. (1) If Manager defaults in any material respect in performing any of its obligations under this Agreement and such default is not cured within thirty (30) days after notice thereof is given by Company to Manager, then, subject to Section 6.2(2) hereof, Company shall have the right to terminate this Agreement by giving written notice to that effect to Manager. (2) If such default is curable but is of such nature that it cannot reasonably be cured within such thirty (30) day period, then the cure period shall be extended for a reasonable period of time thereafter, so long as Manager promptly after receiving such notice commences to cure such default and thereafter proceeds with reasonable diligence to complete the curing thereof.

Default by Manager. (1) If Manager defaults in any material respect in performing any of its obligations under this Agreement and such default is not cured within thirty (30) days Days after notice thereof is given by Company Owner to Manager, then, subject to Section 6.2(29.2(2) hereof, Company Owner shall have the right to terminate this Agreement by giving written notice to that effect to Manager. (2) If such default is curable but is of such nature that it cannot reasonably be cured within such thirty (30) day Day period, then the cure period shall be extended for a reasonable period of time thereafter, so long as Manager promptly after receiving such notice commences to cure such default and thereafter proceeds with reasonable diligence to complete the curing thereof.

Default by Manager. (1) If Manager defaults in any material respect in performing any of its obligations under this Agreement and such default is not cured within thirty (30) days after notice thereof is given by Company Owner to Manager, then, then subject to Section 6.2(24.2(2) hereofbelow, Company Owner shall have the right to terminate this Agreement by giving written notice to that effect to Manager. (2) If such default is curable but is of such nature that it cannot reasonably be cured within such thirty (30) day period, then the cure period shall be extended for a reasonable period of time thereafter, so long as Manager promptly after receiving such notice commences to cure such default and thereafter proceeds with reasonable diligence to complete the curing thereof.