Right to Cure Event of Default. Upon the occurrence of any ------------------------------ event of default entitling a party to terminate this Agreement, the non- defaulting party may send notice of default, specifying the nature of the default, to the other party. The non-defaulting party will permit thirty (30) days following the date of such notice to enable the other party to cure the problem to the non-defaulting party's reasonable satisfaction. Failure to cure the problem will result in termination without further notice by the non- defaulting party, unless such non-defaulting party extends the cure period by written notice or withdraws the default notice.
Appears in 2 contracts
Samples: Development and License Agreement (Multilink Technology Corp), Development and License Agreement (Multilink Technology Corp)
Right to Cure Event of Default. Upon the occurrence of any ------------------------------ event of default entitling a party to terminate this Agreement, the non- defaulting party may send notice of defaulttermination, specifying the nature of the default, to the other party. The non-defaulting party will shall permit thirty (30) days 30 calendar days, following the date of such notice to enable the other party to cure the problem default to the non-defaulting party's reasonable satisfactionsatisfaction (assuming that the default is susceptible of cure). Failure to cure the problem will default shall result in termination without further notice by the non- non-defaulting party, unless such non-defaulting party extends the cure period by written notice or withdraws the default notice.
Appears in 2 contracts
Samples: Strategic Alliance Agreement (Altavista Co), Strategic Alliance Agreement (Altavista Co)
Right to Cure Event of Default. Upon the occurrence of any ------------------------------ event of default entitling a party to terminate this Agreement, the non- non-defaulting party may send notice of defaulttermination, specifying the nature of the default, to the other party. The non-defaulting party will permit thirty (30) days following the date of such notice to enable the other party to cure the problem to the non-defaulting party's reasonable satisfactiondefault. Failure to cure the problem default will result in termination without further notice by the non- non-defaulting party, unless such non-defaulting party extends the cure period by written notice or withdraws the default notice.
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