Common use of Right of Cure Clause in Contracts

Right of Cure. Notwithstanding the foregoing, if the Purchaser or the Seller ("Terminating Party") claim the right to terminate this Agreement pursuant to Section 8.1(a) or Section 8.1(b), then the Terminating Party must provide the other party ("Recipient") with written notice of its intention to terminate or abandon the Agreement, which notice shall identify the condition or event giving rise to the Terminating Party's right to terminate or abandon the Agreement. The Recipient will have ten (10) business days from receipt of such notice to cure such condition or event; provided that in the event that the Terminating Party provides such notice based on a representation or warranty of the Recipient contained in this Agreement which was not true or correct when made upon the execution of this Agreement, an action by the Recipient within ten (10) days of such notice such that, if called upon to do so, Recipient could make such representation or warranty in a truthful and correct manner in all material respects will be deemed to constitute a cure of such default. The provisions of this Section 8.2 shall not apply to termination pursuant to Sections 8.1(c), 8.1 (d) or 8.1(e).

Right of Cure. Notwithstanding the foregoing, if the Purchaser or the Seller ("Terminating PartyTERMINATING PARTY") claim the right to terminate this Agreement pursuant to Section 8.1(a) or Section 8.1(b), then the Terminating Party must provide the other party ("RecipientRECIPIENT") with written notice of its intention to terminate or abandon the Agreement, which notice shall identify the condition or event giving rise to the Terminating Party's right to terminate or abandon the Agreement. The Recipient will have ten (10) business days Business Days from receipt of such notice to cure such condition or event; provided that in the event that the Terminating Party provides such notice based on a representation or warranty of the Recipient contained in this Agreement which was not true or correct when made upon the execution of this Agreement, an action by the Recipient within ten (10) days of such notice such that, if called upon to do so, Recipient could make such representation or warranty in a truthful and correct manner in all material respects will be deemed to constitute a cure of such default. The provisions of this Section 8.2 shall not apply to termination pursuant to Sections 8.1(c), 8.1 (d), 8.1(e) or 8.1(e8.1(f).