Common use of Initial Cure Period Clause in Contracts

Initial Cure Period. If Seller becomes aware that Purchaser or any Subsidiary is not complying with any Quality Standard, Seller shall notify Purchaser in writing, setting forth in reasonable detail a written description of the noncompliance and any requested action for curing such noncompliance. Following receipt of such notice, Purchaser shall make an inquiry promptly and in good faith concerning each instance of noncompliance described in the notice. Purchaser shall then have thirty (30) days after receipt of such notice (“Initial Cure Period”) to correct such noncompliance or submit to Seller a written plan to correct such noncompliance, which written plan is reasonably acceptable to Seller, unless Seller previously affirmatively concurs in writing, in its sole discretion, that Purchaser or its Subsidiaries is not in noncompliance.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Avago Technologies LTD), Asset Purchase Agreement (Avago Technologies LTD), Asset Purchase Agreement (Agilent Technologies Inc)

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Initial Cure Period. If Seller becomes aware that Purchaser or any Subsidiary is not complying with any applicable Quality Standard, Seller shall notify Purchaser in writing, setting forth in reasonable detail a written description of the noncompliance and any requested action for curing such noncompliance. Following receipt of such notice, Purchaser shall make an inquiry promptly and in good faith concerning each instance of noncompliance described in the notice. Purchaser shall then have thirty (30) days after receipt of such notice (“Initial Cure Period”) to correct such noncompliance or submit to Seller a written plan to correct such noncompliance, which written plan is reasonably acceptable to Seller, unless Seller previously affirmatively concurs in writing, in its sole discretion, that Purchaser or its Subsidiaries is not in noncompliance.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Avago Technologies LTD)

Initial Cure Period. If Seller becomes aware that Purchaser or any Subsidiary is not complying with any the Seller Quality Standard, Seller shall notify Purchaser in writing, setting forth in reasonable detail a written description of the noncompliance and any requested action for curing such noncompliance. Following receipt of such notice, Purchaser shall make an inquiry promptly and in good faith concerning each instance of noncompliance described in the notice. Purchaser shall then have thirty (30) days after receipt of such notice (“Initial Cure Period”) to correct such noncompliance or submit to Seller a written plan to correct such noncompliance, which written plan is reasonably acceptable to Seller, unless Seller previously affirmatively concurs in writing, in its sole discretion, that Purchaser or its Subsidiaries is not in noncompliance.

Appears in 1 contract

Samples: Asset Purchase Agreement (Avago Technologies LTD)

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Initial Cure Period. If Seller Agilent becomes aware that Purchaser BUYER or any Subsidiary is not complying with any Quality Standard, Seller Agilent shall notify Purchaser BUYER in writing, setting forth in reasonable detail a written description of the noncompliance and any requested action for curing such noncompliance. Following receipt of such notice, Purchaser BUYER shall make an inquiry promptly and in good faith concerning each instance of noncompliance described in the notice. Purchaser BUYER shall then have thirty ten (3010) calendar days after receipt of such notice (“Initial Cure Period”) to correct such noncompliance or submit to Seller Agilent a written plan to correct such noncompliance, which written plan is shall be reasonably acceptable to SellerAgilent, unless Seller Agilent previously affirmatively concurs in writing, in its sole discretion, that Purchaser BUYER or its Subsidiaries is not in noncompliancecompliance.

Appears in 1 contract

Samples: Asset Purchase Agreement (Ixia)

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