Common use of Notice of Default; Opportunity to Cure Clause in Contracts

Notice of Default; Opportunity to Cure. Neither Seller nor Purchaser shall be deemed to be in default hereunder until and unless such party has been given written notice of its failure to comply with the terms hereof and thereafter does not cure such failure within five (5) business days after receipt of such notice, except that the failure to close on the Closing Date shall be a material default for which no notice need be given.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Paladin Realty Income Properties Inc), Purchase and Sale Agreement (Paladin Realty Income Properties Inc), Purchase and Sale Agreement (Paladin Realty Income Properties Inc)

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Notice of Default; Opportunity to Cure. Neither Seller Sellers nor Purchaser shall be deemed to be in default hereunder with respect to a curable default until and unless such party has been given written notice of its failure to comply with the terms hereof and thereafter does not cure such failure within five (5) business days Business Days after receipt of such notice; provided, except however, that the this Section 3.7 (i) shall not be applicable to a party’s failure to close make any deliveries required of such party on the Closing Date and, accordingly, (ii) shall be a material default for which no notice need be givennot have the effect of extending the Closing Date.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Green Plains Inc.), Asset Purchase Agreement (Green Plains Inc.)

Notice of Default; Opportunity to Cure. Neither Seller nor Purchaser shall be deemed to be in default hereunder until and unless such party has been given written notice of its failure to comply with the terms hereof and thereafter does not cure such failure within five ten (510) business days after receipt of such notice; provided, except however, that the this Section 6.3 (a) shall not be applicable to a party’s failure to close make any deliveries required of such party on the Closing Date Date, and (b) shall be a material default for which no notice need be givennot have the effect of extending the Closing Date.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Parlux Fragrances Inc)

Notice of Default; Opportunity to Cure. Neither Seller nor Purchaser shall be deemed to be in default hereunder with respect to a curable default until and unless such party has been given written notice of its failure to comply with the terms hereof and thereafter does not cure such failure within five (5) business days Business Days after receipt of such notice; provided, except however, that the this Section 3.7 (i) shall not be applicable to a party’s failure to close make any deliveries required of such party on the Closing Date and, accordingly, (ii) shall be a material default for which no notice need be givennot have the effect of extending the Closing Date.

Appears in 1 contract

Samples: Asset Purchase Agreement (Green Plains Inc.)

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Notice of Default; Opportunity to Cure. Neither Seller Sellers nor Purchaser shall be deemed to be in default hereunder until and unless such party has been given written notice of its failure to comply with the terms hereof and thereafter does not cure such failure within five (5) business days after receipt of such notice, except that the failure to close on the Closing Date shall be a material default for which no notice need be given.

Appears in 1 contract

Samples: Membership Interest Purchase and Sale Agreement (Paladin Realty Income Properties Inc)

Notice of Default; Opportunity to Cure. Neither Seller nor Purchaser shall be deemed to be in default hereunder until and unless such party has been given written notice of its failure to comply with the terms hereof and thereafter does not cure such failure within five (5) business days after receipt of such notice, except that the failure to close on the Closing Date shall be a material default for which no notice need be given.

Appears in 1 contract

Samples: Membership Interest Purchase and Sale Agreement (Paladin Realty Income Properties Inc)

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