Remedies for Failure to Cure. If COMPANY fails to cure an Event of Default in accordance with Section 6.E., the COUNTY may:
Remedies for Failure to Cure. If a defaulting Party fails to cure the default as provided above in Section 12.1, unless otherwise provided in this Agreement or unless otherwise agreed in writing, the non-defaulting Party may resort to any available legal or equitable remedy, to enforce the terms of this Agreement, including termination of any unfulfilled portion of this Agreement and recover from the defaulting Party damages recoverable under applicable law but subject to Section 14 below. Notwithstanding the preceding sentence, the Authority acknowledges that termination of the Agreement would result in undue financial hardship to Motorola because Motorola has incurred substantial costs before this Agreement was formed (including paying its Site Remediation Costs) as well as during the early part of the contract performance and Motorola will need the User Fees to be paid for the full term of the Agreement to achieve its financial objectives concerning this Agreement. Furthermore, during the Operation Stage, Motorola acknowledges that termination of the Agreement would result in financial hardship to both the Authority and the Eligible Users because of the substantial resources in terms of Sites and Facilities that have been committed to the System and would potentially create a danger to public safety as a result of the loss of the System. Based on the foregoing acknowledgements, the Parties agree that Motorola during the Operation Stage and the Authority at any time may not terminate this Agreement for an uncured default if monetary damages are an adequate remedy, provided, however, that the failure of a Party to pay a final monetary judgment for damages that has been obtained by the other Party within sixty (60) days shall be grounds for termination. The Parties further agree that even if monetary damages are not an adequate remedy, Motorola during the Operation Stage and the Authority at any time will not terminate this Agreement for the other Party’s uncured default without completing a “meet and confer” process with senior managers of both Parties for an additional time period to be mutually agreed but not less than thirty (30) days. The purpose of this meet and confer process is for the Parties to try in good faith to resolve the claimed default without terminating the Agreement so as to avoid the undue financial hardship and loss of the System described above. In the event of termination for default, the defaulting Party will promptly return to the non-defaulting Party any of i...
Remedies for Failure to Cure. If the Contractor is unable to correct any deficiency, defect or noncompliance with the Acceptance Criteria that prevents the State from accepting the Deliverable in the time set forth in the Corrective Action Plan(s), the State may exercise any of the following three options:
Remedies for Failure to Cure. In the event the breaching Shareholder fails timely to cure its material breach or to remedy a defective cure following notice by the nonbreaching Shareholder pursuant to Section 7.1, the nonbreaching Shareholder shall be entitled, in addition to any other remedies it or the Company may possess, upon notice given to the breaching Shareholder, to purchase or cause an Affiliate or third party purchaser to purchase the breaching Shareholder's Shares at a price equal to seventy-five percent (75%) of the fair market value of such breaching Shareholder's Shares as determined by an investment banking firm of recognized national standing selected by the nonbreaching Shareholder. Upon such purchase, the breaching Shareholder shall thereafter cease to be a Shareholder of the Company, and all of its rights, privileges, remedies and entitlement under this Agreement shall cease.
