Common use of Default by the Authority Clause in Contracts

Default by the Authority. The Authority shall not be in default under this Agreement unless the Authority fails to perform an obligation required by the Authority under this Agreement and the Authority fails to cure same within thirty (30) days after receipt of written notice from Tenant of such obligation. If the nature of the Authority’s obligation hereunder is such that more than thirty (30) days are reasonably required for performance or cure, the Authority shall not be in default if the Authority commences performance or cure within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In the event the Authority fails to cure such obligation within the aforesaid period, Tenant shall have the right to terminate this Agreement upon written notice to the Authority.