Common use of Right to Cure Event of Default Clause in Contracts

Right to Cure Event of Default. Upon the occurrence of any event of default entitling a Party to terminate this eSAS 2 Addendum, the non-defaulting party shall send to the defaulting party notice of event of default, specifying in reasonable detail the nature of the default. The defaulting party will have thirty (30) days following the date of receipt of such notice within which to cure the breach or event of default. Failure to cure the default within such time period will result in termination of the eSAS 2 Development Program 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. (The expiration of the period for such right to cure without cure, extension or withdrawal of the default notice is referred to as the “effective date of termination”.)

Right to Cure Event of Default. Upon the occurrence of any event of default entitling a Party party to terminate this eSAS Ultrio 2 Addendum, the non-defaulting party shall may send to the defaulting party notice of event of default, specifying in reasonable detail the nature of the default, to the defaulting party. The defaulting party will have thirty (30) days [...***...] following the date of receipt of such notice within which to cure the breach or event of default. Failure to cure the default within such time period will result in termination of the eSAS Ultrio 2 Development Program 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. (The expiration of the period for such right to cure without cure, extension or withdrawal of the default notice is referred to as the “effective date of termination”.)