Common use of Notice of Event of Default and Cure Clause in Contracts

Notice of Event of Default and Cure. (a) If an Event of Default shall occur and be continuing the Debenture Trustees shall, within 30 days after they receive written notice of the occurrence of such Event of Default (or an officer of a Debenture Trustee responsible for the duties of such Debenture Trustee under this Indenture otherwise becomes aware that an Event of Default has occurred and is continuing), give notice of such Event of Default to the Holders of Debentures in the manner provided in Section 15.2, provided that notwithstanding the foregoing, unless the Debenture Trustees shall have been requested to do so by the Holders of at least 25% of the principal amount of the Debentures then outstanding, the Debenture Trustees shall not be required, except in the case of an Event of Default relating to the payment of principal of, interest or premium, if any on any Debenture, to give such notice if the Debenture Trustees in good faith shall have determined that the withholding of such notice is in the best interests of the Holders and shall have so advised the Issuer in writing. (b) Where notice of the occurrence of an Event of Default is given by the Debenture Trustees under Section 9.12(a) and such Event of Default is thereafter cured, notice that such Event of Default is no longer continuing shall be given by the Debenture Trustees to the Holders of Debentures in the manner provided in Section 15.2 within a reasonable time, but not exceeding 30 days, after an officer of a Debenture Trustee responsible for the duties of such Debenture Trustee under this Indenture becomes aware that such Event of Default has been cured.

Notice of Event of Default and Cure. (a) If an Event of Default shall occur and be continuing the Debenture Trustees shall, within 30 days after they receive written notice of the occurrence of such Event of Default (or an officer of a Debenture Trustee responsible for the duties of such Debenture Trustee under this Indenture otherwise becomes aware that an Event of Default has occurred and is continuing), give notice of such Event of Default to the Holders of Debentures Notes in the manner provided in Section 15.212.2, provided that notwithstanding the foregoing, unless the Debenture Trustees shall have been requested to do so by the Holders of at least 25% of the principal amount of the Debentures Notes then outstanding, the Debenture Trustees shall not be required, except in the case of an Event of Default relating to the payment of principal of, interest or premium, if any any, on any DebentureNote, to give such notice if the Debenture Trustees in good faith shall have determined that the withholding of such notice is in the best interests of the Holders and shall have so advised the Issuer in writing. (b) Where notice of the occurrence of an Event of Default is given by the Debenture Trustees under Section 9.12(a6.12(a) and such Event of Default is thereafter cured, notice that such Event of Default is no longer continuing shall be given by the Debenture Trustees to the Holders of Debentures Notes in the manner provided in Section 15.2 12.2 within a reasonable time, but not exceeding 30 days, after an officer of a Debenture Trustee responsible for the duties of such Debenture Trustee under this Indenture becomes aware that such Event of Default has been cured.

Notice of Event of Default and Cure. (a) If an Event of Default shall occur and be continuing the Debenture Trustees shall, within 30 days after they receive written notice of the occurrence of such Event of Default (or an officer of a Debenture Trustee responsible for the duties of such Debenture Trustee under this Indenture otherwise becomes aware that an Event of Default has occurred and is continuing), give notice of such Event of Default to the Holders of Debentures in the manner provided in Section 15.2, provided that notwithstanding the foregoing, unless the Debenture Trustees shall have been requested to do so by the Holders of at least 25% of the principal amount of the Debentures then outstanding, the Debenture Trustees shall not be required, except in the case of an Event of Default relating to the payment of principal of, interest or premium, if any on any Debenture, to give such notice if the Debenture Trustees in good faith shall have determined that the withholding of such notice is in the best interests of the Holders and shall have so advised the Issuer in writing. (b) Where notice of Upon the occurrence of an Event of Default is given by the Debenture Trustees under Section 9.12(ahereunder as set forth in Paragraphs 15(a)(ii) and such Event (iii) above, (but not in the case of Default is thereafter cureda bankruptcy as set forth in Paragraph 15(a)(i) above, notice that such Event in which event termination of Default is no longer continuing this Agreement shall be given by automatic), Agent shall have the Debenture Trustees to the Holders of Debentures in the manner provided in Section 15.2 within a reasonable time, right (but not exceeding 30 daysthe obligation) to terminate this Agreement. In the event Agent elects to terminate this Agreement, after an officer of Agent shall serve upon Licensee a Debenture Trustee responsible for the duties written notice of such Debenture Trustee election. (i) Licensee shall thereupon have a period of thirty days after receipt of such notice within which to remedy the breach except with respect to any and all payments due hereunder, Licensee shall have a period of fifteen (15) business days after receipt of notice to remedy any failure to make payment of sums due hereunder. (ii) If Licensee fails to duly remedy the same, then upon the expiration of the thirty day period or fifteen (15) business day period with respect to payments, as applicable, this Agreement and the license herein granted shall in all respects cease and terminate, and Licensee shall have no further rights hereunder. (iii) Notwithstanding such termination, all rights of Agent and/or Licensor arising out of this Agreement or in connection therewith or existing prior thereto shall nevertheless continue in full force and effect, including but not limited to Agent's and/or Licensor's right to sue for damages caused to it by Licxxxee's default and the right hereunder to receive earned but unpaid Compensation/Royalties or other sums due from Licensee pursuant to Paragraph 5. (iv) Upon any termination under this Indenture becomes aware that such Event of Default has been curedParagraph 15, neither Licensee nor its receiver, representative, trustees, agents, administrators, successors and/or assigns shall have any right to sell, exploit or in any way deal with or in any Licensed Products or Collateral Materials hereunder except with and pursuant to Agent's consent and instructions in writing.