Performance by Either Party Sample Clauses

Performance by Either Party. 12.1 A Party shall be deemed to be in default hereunder if any of the following events occur (each of the following events to be referred to as an “Event of Default”, the Party in default to be referred to as the “Defaulting Party” and the Party not in default to be referred to as the “Non-defaulting Party”): (a) a Party fails to make a payment as required by any provision of this Agreement including failure to pay an indemnity amount pursuant to Section 8 (a “Payment Default”); or (b) a Party fails to perform any of its obligations under Sections 4, 5, 6 or 7 of this Agreement or fails to perform any other material obligation imposed upon such Party under this Agreement (a “Performance Default”); 12.2 If a Party claims that there has been an Event of Default committed by the other Party, the Non-defaulting Party shall give to the Defaulting Party a notice (hereinafter referred to as the “Notice of Default”). The Notice of Default shall specify and provide particulars of the alleged Event of Default, and then: (a) in the event the alleged Event of Default is capable of being remedied, the Defaulting Party shall have a cure period of fifteen (15) calendar days after receipt of the Notice of Default, or, if the Event of Default, with respect to a Performance Default only, is such that it cannot be reasonably remedied within fifteen (15) calendar days after receipt of the Notice of Default, have a reasonable period of time to cure the Event of Default provided that the Defaulting Party promptly commences and diligently continues thereafter to remedy the Performance Default; and (b) if before the expiry of the later of the cure period (if any) referred to in Section 12.2(a) or the time to cure specified in the Notice of Default, the Defaulting Party cures the Event of Default, the Notice of Default shall be inoperative and the Defaulting Party shall lose no rights hereunder. 12.3 If a Notice of Default has been given and the Defaulting Party does not cure or remedy the Event of Default in the manner contemplated by Section 12.2(a), the Non-defaulting Party shall have the following rights and remedies with respect to a Payment Default: (a) to charge the Defaulting Party Interest with respect to the unpaid amount until it is paid, with such Interest to be calculated daily, regardless of whether the Non- defaulting Party has notified the Defaulting Party in advance of its intention to charge Interest with respect to the unpaid amount; (b) to set-off against the u...

Performance by Either Party. Either party, with or without terminating this Agreement (to the extent that termination is expressly permitted hereby), may (but will not be obligated to) perform any obligation of the other party under this Agreement, and the non-breaching party and its agents may enter the Property for such purposes without advance notice to to the other party, and the breaching party shall fully reimburse and compensate the non-breaching party on demand for all costs and expenses incurred by the non-breaching party in such performance, with interest for such amount accruing at a rate of ten (10%) percent per annum.