Common use of DEFAULT; LIMITATION OF DAMAGES Clause in Contracts

DEFAULT; LIMITATION OF DAMAGES. A party shall be in default under this Contract if such party fails to comply with its obligations under this Contract in any material respect after written notice thereof (i) within a period of fifteen (15) days after such notice if compliance is commercially practicable within fifteen (15) days, or (ii) within a reasonable period after such written notice if compliance is not commercially practicable within fifteen (15) days and such party begins to comply within fifteen (15) days.

DEFAULT; LIMITATION OF DAMAGES. A party shall be in default under this Contract Agreement if such party fails to comply with its obligations under this Contract Agreement in any material respect after written notice thereof (i) within a period of fifteen (15) days after such notice if compliance is commercially practicable within fifteen (15) days, or (ii) within a reasonable period after such written notice if compliance is not commercially practicable within fifteen (15) days and such party begins to comply within fifteen (15) days.