Laserfiche WebLink
ARTICLE 4 <br />DEFAULT AND REMEDIES <br />4.1 Intentionally omitted. <br />4.2 Default. (a) A default in respect of this Agreement shall be deemed to occur when, <br />with respect to either party: <br />(i) A Party breaches any material representation or warranty made in this <br />Agreement by that Party in any material respect, or any material representation or <br />warranty of that Party proves to have been incorrect or misleading in any material <br />respect when made under this Agreement and same is not remedied to the other <br />Party's reasonable satisfaction within thirty (30) days after receipt of written notice <br />thereof; provided however, then, so long as the defaulting Party has begun all <br />reasonable efforts to cure such Default and within ten (10) days after the Notice of <br />Default is diligently pursuing the curing of such Default then the defaulting Party <br />shall have an additional period of twenty (20) days from receipt of such Notice of <br />Default (or sixty (60) days total) within which to cure the Default; <br />(ii) Except as otherwise provided herein, if a Party fails to perform any <br />material covenant or obligation set forth in this Agreement, the breach or default of <br />which is not otherwise addressed in this Section 4.1, if such failure is not remedied <br />to the other Party's reasonable satisfaction within thirty (30) days after receipt of <br />written notice thereof, <br />(iii) The failure or omission or either Party to comply with the RFS or LCFS <br />will not constitute a Default for a period of thirty (30) days following receipt of <br />written notice of such failure to perform, so long as such Parry has taken and is <br />taking commercially reasonable steps to cure such compliance failure or omission; <br />or <br />(iv) A Parry (a) makes an assignment or any general arrangement for the benefit <br />of creditors; (b) files a petition or otherwise commences, authorizes, or acquiesces <br />in the commencement of a proceeding or case under any bankruptcy or similar law <br />for the protection of creditors or has such petition filed or proceeding commenced <br />against it; (c) otherwise becomes bankrupt or insolvent (however evidenced); (d) is <br />unable to pay its debts as they fall due; (e) has a receiver, provisional liquidator, <br />conservator, custodian, trustee or other similar official appointed with respect to it <br />or substantially all of its assets. <br />(b) A default in respect of this Agreement shall be deemed to occur when, with <br />respect to TruStar, TruStar fails to make any payment when due under this <br />Agreement within ten (10) Business Days of a written demand therefor. <br />Each of the foregoing events described in clauses (a)-(b) above shall be referred to <br />