Common use of Obligation Failure Clause in Contracts

Obligation Failure. [COMPANY 1] fails to perform any obligation hereunder, such failure is material, such failure is not excused by the provisions of [SECTION 17(17.02)] (relating to Force Majeure Events), and such failure is not cured within: (A) [NUMBER OF DAYS 30] if the failure involves a failure to maintain required insurance; or (B) [NUMBER OF DAYS 31] if the failure involves an obligation other than payment or the maintenance of insurance, after receipt of notice from [PROVIDER COMPANY] identifying the failure.

Obligation Failure. [COMPANY 1PROVIDER COMPANY] fails to perform any obligation hereunder, such failure is material, such failure is not excused by the provisions of [SECTION 17(17.02)] (relating to Force Majeure Events), and such failure is not cured within: (A) [NUMBER OF DAYS 3025] if the failure involves a failure to make payment when due or maintain required insurance; or (B) [NUMBER OF DAYS 3126] if the failure involves an obligation other than payment or the maintenance of insurance, after receipt of notice from [PROVIDER COMPANYCOMPANY 1] identifying the failure.