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.
Appears in 4 contracts
Sources: Master License Agreement (Telephone & Data Systems Inc /De/), Master License Agreement (Array Digital Infrastructure, Inc.), Securities Purchase Agreement (Telephone & Data Systems Inc /De/)