Uncured Default Clause Samples

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Uncured Default. If a Member fails to perform any of its material obligations (a "Defaulting Member") under this Agreement or any of the Associated Agreements (an "Event of Default"), then the other Member (a "Nondefaulting Member") shall have the right to give the Defaulting Member notice (a "Notice of Default"). The Notice of Default shall set forth the nature of the obligations which the Defaulting Member has failed to perform. If the Defaulting Member shall dispute whether an Event of Default has occurred, or the amount of the loss, damage, cost of expense incurred by the Nondefaulting Member as a consequence of an Event of Default, the matter shall promptly be submitted to the dispute resolution procedure set forth in Section 12.17 hereof. If the Defaulting Member fails to cure the Event of Default within thirty (30) days of the later of (1) receipt of the Nondefaulting Member's Notice of Default in compliance with this Section, or (2) a determination pursuant to the dispute resolution procedure set forth in Section 12.17, then an "Uncured Default" shall be deemed to have occurred. If an Uncured Default occurs, the LLC shall be dissolved upon written notice (a "Termination Notice") by the Nondefaulting Member (also a "TO Member") of its desire to terminate the LLC, which notice shall be delivered, if at all, within sixty (60) days following the occurrence of the Uncured Default. Upon the delivery and receipt of the Termination Notice (the "Applicable Date"), the TO Member shall be entitled to receive a payment from the Defaulting Member equal in amount to the Termination Transition Fee, which fee shall be payable within thirty days after the Applicable Date.
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Uncured Default. On an uncured default by JOC, City may terminate an issued Job Order or, at City’s discretion, may terminate this entire Agreement with JOC. City may complete the Work itself or procure its completion by a substitute Contractor and City shall retain all rights and remedies available to it arising from JOC’s default, as may be afforded by law or by equity.
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Uncured Default. An Event of Default by Contractor that is not timely cured.
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Uncured Default. An uncured Event of Default by Company.
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Uncured Default. City shall not be obligated to provide any credits under this Section 18.01 within the applicable notice and cure period so long as such default remains uncured.
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Uncured Default. In the event that any Default remains uncured one hundred eighty (180) days after a Notice of Default has been issued, and the uncured status is not excused as a Force Majeure Event, or because the Parties are engaged in arbitration, dispute resolution, implementation of a compliance plan or other mutually agreed resolution of the Default, the non-defaulting Party shall have the right to give notice to terminate this IRU Agreement pursuant to Section 21(g) of this IRU Agreement.
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Uncured Default. By the non-defaulting party upon thirty (30) days prior written notice to the defaulting party in the event of a Default;
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Uncured Default. An “Uncured Default” shall exist when any Owner fails to pay, when due and within thirty (30) days following receipt of written invoice or notice thereof, any amounts required to be paid by such Owner hereunder. Such an Uncured Default continues until all current and back payments and arrearages of such amount, together with interest thereon at 18% per annum from the date first due, and any legal costs incurred in connection with the collection thereof, including any court or arbitration costs or attorneys’ fees incurred, whether or not included in any judgment or award rendered in connection therewith (collectively, the “Costs to Cure”), have been paid in full by or on behalf of the Owner.
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Uncured Default. It is the intention of the parties that this --------------- Agreement may be terminated only for just cause in strict accordance with the provisions contained herein regarding the respective parties' right to written notice of a claimed default and the opportunity to cure same. In the event either party defaults under this Agreement (see subparagraphs B.8, C.5, and C.10.) in any material respect, the party adversely affected by such non-performance (the "Non-Defaulting Party") shall provide written notice to the non-performing party (the "Defaulting Party"), which notice shall set forth, with reasonable specificity, the facts providing the basis for the default. Upon receipt of such notice, the Defaulting Party shall have a period of ninety (90) days to cure such default, unless such default is of a nature were it is impossible or impractical to cure such default within such 90 day time period, in which case, the Defaulting party shall commence to cure such default within the 90 day period and proceed with reasonable diligence to prosecute such efforts to conclusion. In the event of such cure within 90 day time period or the commencement of such cure efforts, the parties shall be restored to their original positions as if such default had not occurred. If, however, the Defaulting Party fails or is unable to cure or commence to cure the default as set forth herein, the Non-Defaulting Party may, by an additional written notice to the Defaulting Party, terminate this Agreement, with such termination to be effective thirty (30) days after the date of such second notice letter.
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Related to Uncured Default

  • Major Default The Purchasers shall be considered to be in “Major Default” in the event that (a) the Purchasers are in breach of their obligations under the Agreement and (b) such breaches, individually or in the aggregate, resulted or would reasonably be expected to result in (i) material Losses to the Sellers or their Affiliates, (ii) material reputational harm to the Sellers or their Affiliates, (iii) material and adverse regulatory consequences to the Sellers or their Affiliates, for which, in each case of clauses (i) through (iii), indemnification by the Purchasers pursuant to Article 8 of the Agreement would not be sufficient to remedy all damages incurred by the Sellers and their Affiliates or (iv) if the Sellers reasonably determine, based on the advice of counsel, that it would reasonably be expected to be a violation of their fiduciary duties under applicable Law to not terminate the Agreement, taking into account the indemnification by the Purchasers pursuant to Article 8 of the Agreement; provided, that the following breaches shall be excluded, and not taken into account, in determining if a Major Default has occurred: (x) any breach to the extent resulting from any action taken by the Purchasers pursuant to and in accordance with written direction given by the Sellers and (y) any breach to the extent arising out of or resulting from, directly or indirectly, a breach by the Sellers of the Agreement, the Transition Services Agreement or the Purchase Agreement.

  • Termination and Default Either party, upon determination that the other party has failed or refused to perform or is otherwise in breach of any obligation or provision under this Agreement or the Contract Document, may give written notice of default to the defaulting party in the manner specified for the giving of notices herein. Termination of this Agreement by either party for any reason shall have no effect upon the rights or duties accruing to the parties prior to termination.

  • Monetary Default Any failure by a Party to pay, deposit or deliver, when and as this Agreement requires, any amount of money, any bond or surety or evidence of any insurance coverage required to be provided under this Agreement, whether to or with a Party or a Third Person.

  • Existing Defaults No Loan Party is in default in the performance, observance or fulfillment of any of the obligations, contained in any Contractual Obligation applicable to it, and no condition exists which, with or without the giving of notice or the lapse of time, would constitute a default under such Contractual Obligation, except, in any such case, where the consequences, direct or indirect, of such default or defaults, if any, could not reasonably be expected to have a Material Adverse Effect on the Loan Parties, taken as a whole.

  • Occurrence of Default Any Transfer hereunder shall be subordinate and subject to the provisions of this Lease, and if this Lease shall be terminated during the term of any Transfer, Landlord shall have the right to: (i) treat such Transfer as cancelled and repossess the Subject Space by any lawful means, or (ii) require that such Transferee attorn to and recognize Landlord as its landlord under any such Transfer. If Tenant shall be in default under this Lease, Landlord is hereby irrevocably authorized, as Tenant’s agent and attorney-in-fact, to direct any Transferee to make all payments under or in connection with the Transfer directly to Landlord (which Landlord shall apply towards Tenant’s obligations under this Lease) until such default is cured. Such Transferee shall rely on any representation by Landlord that Tenant is in default hereunder, without any need for confirmation thereof by Tenant. Upon any assignment, the assignee shall assume in writing all obligations and covenants of Tenant thereafter to be performed or observed under this Lease. No collection or acceptance of rent by Landlord from any Transferee shall be deemed a waiver of any provision of this Article 14 or the approval of any Transferee or a release of Tenant from any obligation under this Lease, whether theretofore or thereafter accruing. In no event shall Landlord’s enforcement of any provision of this Lease against any Transferee be deemed a waiver of Landlord’s right to enforce any term of this Lease against Tenant or any other person. If Tenant’s obligations hereunder have been guaranteed, Landlord’s consent to any Transfer shall not be effective unless the guarantor also consents to such Transfer.