Default of the Parties Sample Clauses

Default of the Parties. In the event of a default by a party in performing any of the monetary or non-monetary obligations imposed hereunder, the non-defaulting party shall give written notice to the other specifying the nature of the default. The defaulting party shall have ten (10) days after receipt of the Written notice of default to cure said non-monetary default (or such period of time thereafter (not to exceed thirty (30) days) as is reasonably necessary in order to diligently pursue and complete said cure). If the defaulting party fails to cure the default within such period of time, then the non-defaulting party may cure such default and receive from the defaulting party all reasonable out-of-pocket costs incurred by the non-defaulting party in curing such default. If any default continues uncured for a period of more than thirty (30) days following receipt of notice of such default from the non-breaching party, the non-breaching party shall have the right to terminate this Agreement.
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Related to Default of the Parties

  • Default and Breach If either Party defaults in the payment of any amount due hereunder, or if either Party violates any other material provision of this Agreement and such default or violation continues for thirty (30) Days after written notice thereof, the other Party may terminate this Agreement and seek relief in accordance with any remedy available under this Agreement, including without limitation, the Dispute Resolution provisions of Section 25 herein and, in addition to the foregoing, Qwest may cease to accept orders from CLEC for Services in accordance with Section 8.2 above. The remedies available to each Party pursuant to this Agreement are not to be considered exclusive of one another and will be cumulative.

  • Available Relief for a Force Majeure Event 11.7.1 Subject to this Article 11:

  • Notice of Event of Default If the Mortgagee shall have Actual Knowledge of an Event of Default or of a Default arising from a failure to pay Rent, the Mortgagee shall give prompt written notice thereof to the Owner Trustee, the Owner Participant, Lessee, and each Note Holder. Subject to the terms of Sections 2.13, 4.03, 4.04, 4.08, 5.02 and 5.03 hereof, the Mortgagee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Mortgagee shall be instructed in writing by a Majority in Interest of Note Holders. Subject to the provisions of Section 5.03, if the Mortgagee shall not have received instructions as above provided within 20 days after mailing notice of such Event of Default to the Note Holders, the Mortgagee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 5.01, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect to such Event of Default or Default as it shall determine advisable in the best interests of the Note Holders; PROVIDED, HOWEVER, that the Mortgagee may not sell the Aircraft or any Engine without the consent of a Majority in Interest of Note Holders. For all purposes of this Trust Indenture, in the absence of Actual Knowledge on the part of the Mortgagee, the Owner Trustee or the Owner Participant, the Mortgagee, the Owner Trustee or the Owner Participant, as the case may be, shall not be deemed to have knowledge of a Default or an Event of Default (except, in the case of the Mortgagee, the failure of Lessee to pay any installment of Basic Rent within one Business Day after the same shall become due, if any portion of such installment was then required to be paid to the Mortgagee, which failure shall constitute knowledge of a Default) unless notified in writing by Lessee, the Owner Trustee, the Owner Participant or one or more Note Holders.

  • Default and Remedies Either of the following constitutes cause to declare this Contract, or any Participating Entity order under this Contract, in default:

  • Events of Default and Remedies Section 8.01.

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