Non-Defaulting Owner's Right to Cure Defaults of Defaulting Owner Sample Clauses

Non-Defaulting Owner's Right to Cure Defaults of Defaulting Owner. If an Owner of a Lot shall neglect or refuse to pay, when due, any amount required to be paid by such Owner or to perform any obligation required to be performed by such Owner under this Agreement (a "Defaulting Owner"), then in addition to and without limiting any other remedies that any Owner of the other Lot (the "Non-Defaulting Owner") may have, the Non-Defaulting Owner may, but shall not be obligated to, after 15 days written notice to the Defaulting Owner (unless circumstances require immediate action and such notice would not be reasonable under the circumstances, in which case no notice shall be necessary), make such payment or expend such sums as may be necessary to perform such obligation, including the payment of any insurance premiums required to be paid under this Agreement, and the undertaking of any work required hereunder for inspection, maintenance, repair, restoration or replacement, and the Non- Defaulting Owner shall have an easement in and to that part of the Defaulting Owner's Lot (including the Unit thereon) as is reasonably necessary to perform such obligations and for any such inspection, maintenance, repair, restoration or replacement. All amounts paid by a Non-Defaulting Owner on behalf of a Defaulting Owner are referred to herein as “Cure Sums” and shall be repaid to the Non-Defaulting Owner upon demand.
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Related to Non-Defaulting Owner's Right to Cure Defaults of Defaulting Owner

  • Termination; Default If Contractor is in default of any of its obligations under this Contract and has not commenced cure within ten days after receipt of a written notice of default from County and cured such default within the time specified in the notice, the County shall immediately be entitled to either commence resolution in accordance with this paragraph or to terminate this Contract by giving written notice to take effect immediately. Default shall include failure to carry out any of the requirements of this Contract, including, but not limited to not providing enough properly skilled workers or proper materials, persistently disregarding laws and or ordinances, not proceeding with the work as agreed to herein, or otherwise substantially violating any provision of this Contract. Upon termination of the Contract with Contractor, the County may begin negotiations with a third-party Contractor to provide goods and/or services as specified in this Contract. The right of either party to terminate this Contract hereunder shall not be affected in any way by its waiver of or failure to take action with respect to any previous default.

  • Rights on Default On the occurrence of an Event of Default, we may exercise our rights under this clause, except that in the case of the occurrence of any Event of Default specified in paragraphs (b) or (c) of the definition of Events of Default (each a "Bankruptcy Default"), the automatic termination provision of this clause shall apply.

  • Termination Upon Default Either Party may terminate this Agreement in whole or in part in the event of a default by the other Party; provided however, that the non-defaulting Party notifies the defaulting party in writing of the alleged default and that the defaulting Party does not cure the alleged default within sixty (60) calendar days of receipt of written notice thereof. Default is defined to include:

  • Rights Upon Default In the event of the nonpayment of said rent, or any installment thereof, at the time in the manner above provided, or if the TENANT shall be dispossessed for nonpayment of rent, or if the leased premises shall be deserted, or vacated, the LANDLORD or its agents shall have the right to enter the said premises as the agent of the TENANT either by force or otherwise and may relet the premises as the agent of the TENANT, and receive the rent thereof, upon terms that may be reasonable and satisfactory to the LANDLORD, and all rights of the TENANT to repossess the premises under this lease shall be forfeited. Such re-entry by the LANDLORD shall not operate to release the TENANT from any rent to be paid or covenants to be performed hereunder during the full term of this lease. For the purpose of re-letting the LANDLORD shall be authorized to make such reasonable repairs or alterations in or to the leased premises as may be necessary to restore the premises to rentable condition. The TENANT shall be liable to the LANDLORD for the cost of such repairs or alterations, and all reasonable expenses of such re-letting. If the sum realized or to be realized from this letting is insufficient to satisfy the monthly or term rent provided in this lease, the LANDLORD, at his option may require the TENANT to pay such deficiency month by month, or may hold the TENANT in advance for the entire deficiency to be realized during the term of re-letting. The TENANT shall not be entitled to any surplus funds accruing as a result of the re-letting. The TENANT agrees to pay, as additional rent, all reasonable Attorneys’ fees and other expenses incurred by the LANDLORD in enforcing any obligations under this lease.

  • Termination for Default; Remedies 8.2.1 Each of the following shall constitute an immediate event of default (“Event of Default”) under this Agreement:

  • Preservation of Rights of Non-Defaulting Party The rights of the Non-Defaulting Party under this Agreement, including without limitation Sections 5.4 and 5.6 of this Agreement, shall be supplemental to, and not in lieu of, any right of recoupment, lien, or set-off afforded by applicable law, and all such rights are expressly preserved for the benefit of the Non-Defaulting Party.

  • Defaults Remedies (a) It shall be an Event of Default:

  • Termination on Default The Authority may terminate this Framework Agreement by serving written notice on the Supplier with effect from the date specified in such notice where the Supplier commits a Material Default and if:

  • Remedies on Default Whenever an Event of Default shall have happened and be subsisting, either or both of the following remedial steps may be taken:

  • Performance Default and Remedies Subsection B. DEFAULT AND REMEDIES, second paragraph of the Contract is modified as follows (underlined language is added and stricken language is deleted): “Written notice of default and a reasonable 30-day opportunity to cure must be issued by the party claiming default.”

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