General Right to Cure. In the event of the occurrence of an Event of Default described in Section 8(a) above, the defaulting Party will, upon written notice from the non- defaulting Party, proceed as soon as reasonably possible to cure or remedy such Event of Default and, in any event, within 30 days after receipt of such notice. In the event such Event of Default or breach is of such nature that it cannot be cured or remedied within said 30-day period, then the defaulting Party shall immediately deliver written notice to the non-defaulting Party detailing the reasons therefor and proposing an alternative timeframe for completing such cure or remedy. If the defaulting Party and the non-defaulting Party are unable to agree in writing upon an extension of the time period for the defaulting Party to cure or remedy the Event of Default, then such cure or remedy shall be completed within the 30-day period following the defaulting Party’s receipt of the written notice of an Event of Default from the non-defaulting Party.
Appears in 2 contracts
Samples: Development Agreement, Development Agreement
General Right to Cure. In the event of the occurrence of an Event of Default described in Section 8(a) above5(a)above, the defaulting Party will, upon written notice from the non- defaulting Party, proceed as soon as reasonably possible to cure or remedy such Event of Default and, in any event, within 30 days after receipt of such notice. In the event such Event of Default or breach is of such nature that it cannot be cured or remedied within said 30-day period, then the defaulting Party shall immediately deliver written notice to the non-defaulting Party detailing the reasons therefor and proposing an alternative timeframe for completing such cure or remedy. If the defaulting Party and the non-defaulting Party are unable to agree in writing upon an extension of the time period for the defaulting Party to cure or remedy the Event of Default, then such cure or remedy shall be completed within the 30-day period following the defaulting Party’s receipt of the written notice of an Event of Default from the non-defaulting Party.
Appears in 1 contract
Samples: Development Agreement
General Right to Cure. In the event of the occurrence of an Event of Default described in Section 8(a6(a) above, the defaulting Party will, upon written notice from the non- defaulting Party, proceed as soon as reasonably possible to cure or remedy such Event of Default and, in any event, within 30 days after receipt of such notice. In the event such Event of Default or breach is of such nature that it cannot be cured or remedied within said 30-day period, then the defaulting Party shall immediately deliver written notice to the non-defaulting Party detailing the reasons therefor and proposing an alternative timeframe for completing such cure or remedy. If the defaulting Party and the non-defaulting Party are unable to agree in writing upon an extension of the time period for the defaulting Party to cure or remedy the Event of Default, then such cure or remedy shall be completed within the 30-day period following the defaulting Party’s receipt of the written notice of an Event of Default from the non-defaulting Party.
Appears in 1 contract
Samples: Development Agreement