Common use of Default Liability Clause in Contracts

Default Liability. 10.1 The Parties agree and confirm that, if any Party (the “DEFAULTING PARTY”) breaches substantially any of the agreements made under this Agreement, or fails substantially to perform any of the obligations under this Agreement, such a breach shall constitute a default under this Agreement (a “DEFAULT”), then the non-defaulting Party whose interest is damaged thereby shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of the non-defaulting Party notifying the Defaulting Party in writing and requiring it to rectify the Default, then the non-defaulting Party shall have the right, at its own discretion, to:

Default Liability. 10.1 9.1 The Parties agree and confirm that, that if any Party (hereinafter referred to as “the “DEFAULTING PARTYDefaulting Party”) breaches substantially materially violates any of the agreements made under this Agreement, provisions of the Agreement or substantially fails substantially or delays to perform any of the obligations under this the Agreement, such a breach it shall constitute a default the breach of contract under this the Agreement (a “DEFAULTDefault”), then the ) and other non-defaulting Party whose interest is damaged thereby Parties (hereinafter referred to as “the Non-defaulting Parties”) shall have the right to require the Defaulting Party to rectify such Default correct or take remedial measures within a reasonable periodperiod of time. If the Defaulting Party fails to rectify such Default correct or take remedial measures within such a reasonable period of time or within ten (10) days of after the non-defaulting other Party notifying has notified the Defaulting Party in writing and requiring it to rectify the Default, then the non-defaulting Party shall have the right, at its own discretion, toof correction request:

Default Liability. 10.1 9.1 The Parties parties agree and confirm that, that if any Party party (hereinafter referred to as “the “DEFAULTING PARTYDefaulting Party”) breaches substantially materially violates any of the agreements made under this Agreement, provisions of the Agreement or substantially fails substantially or delays to perform any of the obligations under this the Agreement, such a breach it shall constitute a default the breach of contract under this the Agreement (a “DEFAULTDefault”), then the ) and other non-defaulting Party whose interest is damaged thereby parties (hereinafter referred to as “the Non-defaulting Parties”) shall have the right to require the Defaulting Party to rectify such Default correct or take remedial measures within a reasonable periodperiod of time. If the Defaulting Party fails to rectify such Default correct or take remedial measures within such a reasonable period of time or within ten (10) days of after the non-defaulting Party notifying other party has notified the Defaulting Party in writing and requiring it to rectify the Default, then the non-defaulting Party shall have the right, at its own discretion, toof correction request:

Default Liability. 10.1 11.1 The Parties agree and confirm that, if any Party (hereinafter the “DEFAULTING PARTYDefaulting Party”) breaches substantially any of the agreements made under this Agreement, provisions herein or fails substantially to perform any of the obligations under this Agreement, such a breach or failure shall constitute a default under this Agreement (hereinafter a “DEFAULTDefault”), then the non-defaulting Party whose interest (hereinafter the “Non-defaulting Party”) is damaged thereby shall have the right entitled to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of receiving the nonwritten notice of the Non-defaulting Party notifying thereof, the Defaulting Party in writing and requiring it to rectify the Default, then the nonNon-defaulting Party shall have the rightbe entitled to decide, at its own discretion, to: