Licensor Default Clause Samples

Licensor Default. Licensor shall not be in default under this Agreement unless Licensor fails to perform obligations required of Licensor within ten (10) days after written notice is delivered by Customer to Licensor specifying the obligation which Licensor has failed to perform: provided, however, that if the nature of Licensor’s obligation is such that more than ten (10) days are required for performance, then Licensor shall not be in default if Licensor commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. Customer hereby waives the benefit of any laws granting it the right to perform Licensor’s obligations, and Customer shall not be entitled to perform any of Licensor’s obligations.

Licensor Default. If Licensor fails to disprove or correct the violation within thirty (30) days or, in the case of a violation which cannot be corrected in 30 days if Licensor has failed to initiate a reasonable corrective action plan and to correct the violation within the specified time frame, then Company may declare in writing that Licensor is in default.

Licensor Default. The occurrence of any one or more of the following shall constitute a default by Licensor under this Agreement (each, a “Licensor Default”): (a) Failure by Licensor to timely pay any amount owed by Licensor to the Knicks pursuant to this Agreement if such failure shall continue for thirty (30) days after notice thereof is received by Licensor; (b) The making by Licensor of an assignment for the benefit of creditors; an adjudication that Licensor is bankrupt, insolvent or unable to pay its debts as they mature; the filing by or against Licensor of a petition to have Licensor adjudged bankrupt, or a petition for reorganization or arrangement under any law relating to bankruptcy unless, in the case of a petition filed against the Licensor, the case is dismissed within sixty (60) days after the filing thereof; the appointment of a trustee or receiver to take possession of substantially all of Licensor’s assets or Licensor’s interests in this Agreement; or an attachment, execution or levy against substantially all of Licensor’s interests in this Agreement; (c) Failure by Licensor to provide the Knicks with any of the Knicks’ rights hereunder that interferes with the playing of Home Games in the Arena; (d) Failure by Licensor to cause the Arena to be maintained and operated in accordance with, or otherwise to meet and observe, the Standard, and such failure shall continue for fifteen (15) days after notice thereof from the Knicks to Licensor; provided that if such failure cannot reasonably be cured within such fifteen (15) days, then Licensor shall have up to an additional fifteen (15) days to cure such failure as long as, within fifteen (15) days after such notice, it diligently undertakes and pursues such cure and provides the Knicks with reasonable evidence that it is diligently undertaking and pursuing such cure, but in any event, Licensor shall not have more thirty (30) days from its receipt of notice of such failure from the Knicks to cure such failure; and (e) Failure by Licensor to observe or perform in any material respect any covenant, agreement, condition, or provision of this Agreement not otherwise specified in this ARTICLE XVIII if such failure shall continue for sixty (60) days after notice thereof from the Knicks to Licensor; provided that Licensor shall not be in a Licensor Default with respect to matters that cannot reasonably be cured within sixty (60) days so long as within sixty (60) days after such notice Licensor commences such cure and di...

Licensor Default. Any one or more of the following events shall constitute a default by LICENSOR (“LICENSOR Default”): (i) The failure of LICENSOR’S representations in Section 4(b) of this MLA to be true and accurate in all respects; or (ii) The failure to perform any of its obligations under this MLA and/or SLA and such failure continues for thirty (30) days from the date LICENSEE gives written notice thereof to LICENSOR (unless another time period is specified for a particular default under this MLA or the SLA); provided, however, that if more than thirty (30) days are required in order to cure any non-monetary LICENSOR Default, LICENSOR shall have a reasonable period of time to cure such a default if LICENSOR shall have commenced and is diligently pursuing corrective action within such initial thirty (30) days.

Licensor Default. RANGERS’ RIGHTS AND REMEDIES; RIGHTS IN THE EVENT OF REPEAL OF PROPERTY TAX EXEMPTION

Licensor Default. If Licensor breaches any covenant or obligation of Licensor under this Agreement in any manner, and if Licensor fails to commence to cure such breach within thirty (30) days after receiving written notice from Licensee specifying the violation (or if Licensor fails thereafter to diligently prosecute the cure to completion), then Licensee may enforce any and all of its rights and/or remedies provided under this Agreement or by Law.

Licensor Default. Licensor shall be in default if Licensor breaches any term, covenant, or condition of this Agreement. Angel shall give Licensor written notice of any claimed default and if the default is capable of cure, then Licensor shall have thirty (30) days after its receipt to cure any default. If the default is incapable of cure, or if Licensor fails to cure within the time provided, then Angel may terminate this Agreement upon written notice to Licensor. Without limiting the foregoing, in the event Licensor is in breach of the representations and warranties given in Paragraph 9, Angel shall have the right to terminate this Agreement. Any claim arising out of or related to this Agreement or the interpretation, performance, or breach hereof, including but not limited to alleged violations of state or federal statutory or common law rights or duties shall be resolved solely and exclusively by final and binding arbitration in accordance to the JAMS Arbitration Rules and Procedures.

Licensor Default. If Licensor is in default under this License and such default shall continue for ten (10) days after Licensee has notified the Licensor by written notice of such default (except in the case of a default which cannot be remedied within ten (10) days and where Licensor shall have commenced and shall be diligently pursuing all necessary action to remedy such default), the Licensee may, but shall not be obligated to: (i) cure the default itself and deduct the cost and expense thereof from the Fee due Licensor under this License; or (ii) immediately terminate this License by providing Licensor written notice as provided for herein. The remedies under the terms of this License are not intended to be exclusive of any other rights or remedies Licensee may have and shall be in addition to any other remedies, existing now or hereafter, at law, in equity or by statute.

Licensor Default. Licensor shall be in default of this Agreement if (a) Licensor fails or refuses to perform any of its material obligations hereunder or breaches any material provision hereof, or (b) Licensor goes into receivership or liquidation other than for purposes of amalgamation or reconstruction, or becomes insolvent, appoints a receiver, or a petition under any bankruptcy act shall be filed by or against Licensor (which petition, if filed against Licensor, shall not have been dismissed within thirty (30) days thereafter), or Licensor commences an assignment for the benefit of creditors, or Licensor takes advantage of any applicable insolvency, bankruptcy or reorganization or any other like statute, or experiences the occurrence of any event analogous to the foregoing (each of the above acts is hereinafter referred to as a “Licensor Event of Default”). Subject to Section 15.4, if Licensor fails to cure a Licensor Event of Default within thirty (30) days after delivery by Licensee to Licensor of written notice of such Licensor Event of Default, then Licensee’s rights will be limited to an action at law for damages as a result thereof, and in no event will Licensee be entitled to injunctive or other equitable relief of any kind requiring delivery of the Programs. Any breach by Licensor is limited to the particular Program to which the breach applies; provided that in the case of willful, repeated and substantial defaults by Licensor, Licensee may immediately terminate this Agreement.