Common use of Licensee’s Remedies Clause in Contracts

Licensee’s Remedies. In the event of any failure by Licensor to perform any of its obligations hereunder, Licensee (except in the case of an emergency) shall take no action without having first given Licensor written notice of any such default and a reasonable opportunity to cure which, in any event, shall not exceed thirty (30) business days. Following such notice and failure by Licensor to cure, Licensee shall have all rights available to it at law or in equity, and shall have the further right to take the necessary actions to perform Licensor’s uncured obligations hereunder and invoice Licensor for the costs and expenses thereof, unless Licensor has diligently commenced to perform its uncured obligations hereunder within said period not to exceed thirty (30) business days. Licensor shall remit payment to Licensee within thirty (30) days of receipt of invoice from Licensee. If Licensor fails to remit payment to Licensee within the aforesaid thirty (30) day period, Licensee shall have the right to offset and deduct said sum from Base Annual Fee.