Common use of Notice and Effective Date Clause in Contracts

Notice and Effective Date. Princeton University shall notify Professional Services Contractor, in writing, of a termination for default, and the reasons prompting it. Thereafter, Professional Services Contractor shall have ten (10) days to cure such default (“Cure Period”) or a reasonable period of time if it is practically impossible to cure such default within ten days provided that Professional Services Contractor gives Princeton University reasonable assurances that a satisfactory cure will be effectuated within such reasonable time. Should the default not be cured, nor reasonable assurances given that the default will be cured within a reasonable time, the termination shall take effect, without further notice, on the date specified in the notice. However, the termination will not take effect if, before the termination's effective date, Princeton University delivers to Professional Services Contractor a written revocation of the termination.

Notice and Effective Date. Princeton University shall notify Professional Services Contractor, in writing, of a termination for default, and the reasons prompting it. Thereafter, Professional Services Contractor shall have ten (10) days to cure such default (“Cure Period”) ), or a reasonable period of time if it is practically impossible to cure such default within ten days provided that Professional Services Contractor gives Princeton University reasonable assurances that a satisfactory cure will be effectuated within such reasonable time. Should the default not be cured, nor reasonable assurances given that the default will be cured within a reasonable time, the termination shall take effect, without further notice, on the date specified in the notice. However, the termination will not take effect if, before the termination's effective date, Princeton University delivers to Professional Services Contractor a written revocation of the termination.