Common use of Owner’s Right to Terminate for Default Clause in Contracts

Owner’s Right to Terminate for Default. In addition to and cumulative of any and all rights and remedies available to Owner under this Agreement, at law or in equity, Owner may terminate this Agreement by notice to Manager if Manager fails to perform any of Manager’s material obligations contained in this Agreement, and such failure continues for a period of 30 days after notice to Manager setting out the failure in reasonable detail. If the failure is such that it cannot reasonably be cured within such 30 days, Owner may not terminate this Agreement as long as Manager begins the cure within the 30 days and proceeds diligently and in good faith to accomplish the cure and provides Owner with reasonable evidence of its actions to effect such cure.