Common use of Rectification Period Clause in Contracts

Rectification Period. (a) The events of default in Subsections 8.01 c), d) and e) (with respect tothe Land Trust ceasing its activities or substantially changing the nature of its business) and 8.01 f) shall only be considered events of default if the Land Trust has been notified in writing by NCC of the alleged default and the Land Trust has not rectified the default within thirty (30) days of written notice thereof. (b) Where NCC is concerned about the probability of imminent default as outlined in the Subsection 8.02 (a), of this Agreement, NCC will notify the Land Trust in writing and the two Parties will discuss the concerns, with the Land Trust rectifying any default within thirty (30) days of written notice thereof.

Rectification Period. (a) The events of default in Subsections 8.01 c), d) and e) (with respect tothe to the Land Trust ceasing its activities or substantially changing the nature of its business) and 8.01 f) shall only be considered events of default if the Land Trust has been notified in writing by NCC of the alleged default and the Land Trust has not rectified the default within thirty (30) days of written notice thereof. (b) Where NCC is concerned about the probability of imminent default as outlined in the Subsection 8.02 (a), of this Agreement, NCC will notify the Land Trust in writing and the two Parties will discuss the concerns, with the Land Trust rectifying any default within thirty (30) days of written notice thereof.

Rectification Period. (a) The events of default in Subsections 8.01 c), d) and e) (with respect tothe to the Land Trust ceasing its activities or substantially changing the nature of its business) and 8.01 f) shall only be considered events of default if the Land Trust has been notified in writing by NCC of the alleged default and the Land Trust has not rectified the default within thirty (30) days of written notice thereof. (b) . Where NCC is concerned about the probability of imminent default as outlined in the Subsection 8.02 (a), of this Agreement, NCC will notify the Land Trust in writing and the two Parties will discuss the concerns, with the Land Trust rectifying any default within thirty (30) days of written notice thereof.