Common use of Breach by Licensor Clause in Contracts

Breach by Licensor. Except as otherwise provided in the Basic License Terms, Licensor shall not be deemed in breach of this Agreement unless Licensor fails within a reasonable time to perform an obligation required to be performed by Licensor. For purposes of this Section 12.2, a reasonable time shall in no event be less than thirty (30) days after receipt by Licensor of written notice specifying the obligation of Licensor that has not been performed; provided, however, that if the nature of Licensor’s obligation is such that more than thirty (30) days are reasonably required for its performance, then Licensor shall not be in breach if performance is commenced within such thirty (30) day period and thereafter diligently pursued to completion.

Breach by Licensor. Except as otherwise provided in the Basic License Terms, Licensor shall not be deemed in breach of this Agreement unless Licensor fails within a reasonable time to perform an obligation required to be performed by Licensor. For purposes of this Section 12.213.4, a reasonable time shall in no event be less than thirty (30) days after receipt by Licensor Licensor, and any lender whose name and address shall have been furnished Licensee in writing for such purpose, of written notice specifying the obligation of Licensor that has not been performed; : provided, however, that if the nature of Licensor’s obligation is such that more than thirty (30) days are reasonably required for its performance, then Licensor shall not be in breach if performance is commenced within such thirty (30) day period and thereafter diligently pursued to completion.