Common use of DEFAULT AND RECOURSE Clause in Contracts

DEFAULT AND RECOURSE. 15.1 A default shall occur in the following cases: a) if the Lessee does not fulfil any of its obligations pursuant to the Lease and if this default continues: i) in the cases of a pecuniary obligation, for more than five (5) days following the receipt by the Lessee of a written notice from the Lessor;

DEFAULT AND RECOURSE. 15.1 A default shall occur in the following cases: a) if the Lessee does not fulfil any of its obligations pursuant to the Lease and if this default continues: i) in the cases of a pecuniary obligation, for more than five (5( 5 ) days following the receipt by the Lessee of a written notice from the Lessor;