Common use of Default, Notice and Right to Cure Clause in Contracts

Default, Notice and Right to Cure. Failure by DSH to pay any Monthly Payment when due, after written notice to cure and failure to cure within 10 days of receipt of notice, shall result in the remaining principal balance of the Settlement Payment accelerating and becoming immediately due and payable, with simple interest accruing at the rate of six percent per annum (6%) until full satisfaction of any unpaid amount and FC Global shall be entitled to seek immediate relief pursuant to paragraph 4, hereof, for collection of the unpaid and accelerated amount due including interest thereon.