Common use of Termination on Default Clause in Contracts

Termination on Default. If any of the Parties are in breach or default of the terms or conditions contained in this Agreement and do not rectify or remedy that breach or default within 90 days from the date of receipt of notice by the other party requiring that default or breach to be remedied, then the other party may give to the party in default a notice in writing terminating this Agreement but without, in any way, limiting or affecting the rights or liabilities of the parties or either of them that have accrued to the date of termination. However, the party to whom notice of default has been delivered shall have the right to contest the termination in a court of law and any such termination shall not become effective until a final decision has been rendered by a court of competent jurisdiction that the alleged breach is actual and that the party to which a notice of default has been delivered, has not effectively cured the default.

Termination on Default. If any of the Parties are in breach or default of the terms or conditions contained in this Agreement and do not rectify or remedy that breach or default within 90 ninety (90) days from the date of receipt of notice by the other party requiring that default or breach to be remedied, then the other party may give to shall notice the defaulting party in default a notice in writing terminating of the termination of this Agreement but without, Agreement. Said termination shall not in any way, limiting limit or affecting affect the rights or liabilities of either of the parties or either of them that may have accrued prior to the date of termination. However, the party to whom notice of default has been delivered shall have the right to contest the termination in a court of law law, and any such termination shall not become effective until a final decision has been rendered by a court of competent jurisdiction that the alleged breach is actual and that the party to which a notice of default has been delivered, has not effectively cured the default.