Party in Default Clause Samples
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Party in Default. This Agreement may be terminated by either party immediately upon notice if the other party is in default of any term of this Agreement and remains in default or has not commenced reasonable steps to cure such default after six months notice of the default has been given by the other party to the defaulting party, or such other time period as mutually agreed by the parties;
Party in Default. Defined in Section 27.
Party in Default refers to the party failing to perform any obligation specified herein.
Party in Default. Except to the extent required by applicable Laws, a Party in Default does not have any voting rights or rights to distributions of a Partner in the Company or under this Agreement (and shall not be an Eligible Partner) during the existence and continuation of such Default, but a Party in Default remains primarily obligated for, and subject to, its obligations under this Agreement.