Common use of Default by a Party Clause in Contracts

Default by a Party. Any default by the Defaulting Party in the performance of any obligation or in the observance of any covenant or agreement (i) in this Agreement, or (ii) in the P&SA, which default may not be cured or is not effectively cured after a period of 30 days after written notice thereof has been given by the Non-Defaulting Party; provided that if such default cannot be cured within 30 days, then the Defaulting Party shall have a reasonable period to cure the default (not to exceed 60 days), during which period the Defaulting Party shall at all times diligently pursue a cure;

Default by a Party. Any default by the Defaulting Party in the performance of any obligation or in the observance of any covenant or agreement (i) in this Agreement, or (ii) in the P&SA, or (iii) in the Master Equipment Bailment Agreement, which default may cannot be cured or is not effectively cured after a period of 30 days after written notice thereof has been given by the Non-Defaulting Party; provided that if such default cannot be cured within 30 days, but can be cured within 60 days, then if the Defaulting Party so requests, the Defaulting Party shall have a reasonable period to cure the default (not to exceed 60 days), during which period the Defaulting Party shall at all times diligently pursue a cure;