If State, at any time by reason of Tenant 's breach, pays any sum or does any act that requires the payment of any sum, the sum paid by State shall be due immediately from Tenant to State, and if paid at a later. defined and stipulated in those agreements) has occurred and is continuing the. PAH may also use the cure period to show good cause why the claiming of such title or right would be inconsistent with the intent of this Agreement in light of the appropriate timing for introduction of the technology in question, the relative funding and participation of the parties in the development, and other factors. At any time after Tenant commits a breach, State can cure the breach at Tenant 's cost. If Customer fails to cure the breach and advise Service Company of such cure. In simple terms, an equity cure provision will allow a sponsor to inject additional capital into the group to remedy or 'cure' a financial covenant breach so that the breach does not trigger an event of default. ![]() While it usually only causes harm to one of the parties to the contract, it oftentimes can hurt both parties because it typically makes fulfilling. Equity cure provisions are a ubiquitous feature of facility agreements in the European leveraged finance market. As its name implies, a material breach or total breach, is a serious violation of the terms of a contract. The length of the cure period will depend on the circumstances, but in no event will be more than 60 days. There are two main types of breaches in contract law: a minor breach and a material breach. In such cases, the Court could, at the suit of the party not in. Prior to claiming such rights (including any rights under Article X, Section 10.10 March-In Rights), the Government will give written notice to MCDC, through its CMF, and CMF will convey such written notice to PAH, of the Government's intent, and afford the PAH a reasonable time to cure such action or failure to act. Sometimes, the damages arent associated with an adequate remedy for Breach of the Contract. (c) Making available adequate, effective, prompt and appropriate remedies, including reparation, as defined below. 8.4Termination With Notice and Right to Cure.In the event of the failure by the Licensee to perform or observe any material term or covenant or agreement contained in this Agreement or in the event of the breach of or default in anyresponsibility or obligation of License hereunder, other than those specified in § 8. The right of a breaching party to be given an opportunity to cure its own material breach is intended (1) to prevent forfeiture by termination, (2) to allow the breaching party to mitigate damages, (3) to avoid. Opportunity to Cure. Certain provisions of this Article X, Patent Rights, provide that the Government may gain title or license to a Subject Invention by reason of the PAH’s action, or failure to act, within the times required by this Article X, Patent Rights. The opportunity to cure a breach of contract is a well established and fundamental right, routinely recognized by New York courts.
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