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Covenant Default
Covenant Default contract clause examples

Default. In the event either party commits a material breach or defaults in the performance or observance of any of the material provisions of this Agreement, and such breach or default is not cured within sixty (60[[ Supplier:Organization]] days after the receipt of notice thereof from the other party specifying such breach or default, the party not in breach or default shall be entitled (without prejudice to any of its other rights[[ Supplier:Organization]] to terminate this Agreement, without additional penalty, termination fee or cost, by giving notice to take effect immediately.

In the event of a material breach of this Agreement by a Party, the other Party may give the Party in default written notice requiring it to cure such default. If such material breach is not cured within sixty (60) days after receipt of such notice, the notifying Party shall be entitled (without prejudice to its other rights under this Agreement or applicable Law) to terminate this Agreement by giving written notice to the defaulting Party, with such termination to take effect immediately. The right of either Party to terminate this Agreement as set forth in this [Section 9.2] shall not be affected in any way by its waiver of, or failure to take action with respect to, any previous default.

Default. A party will be deemed in default under this Agreement if, subject to [Section 10.5], such party fails to perform any obligation required to be performed by it under this Agreement or breaches any representation, warranty or other obligation hereunder and fails to cure any such failure within sixty (60) days after notice from the other party. If a party is in default as specified in this [Section 5.2], the other party may terminate this Agreement and may pursue any remedy under this Agreement or otherwise available to such party.

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