The provision requires notice of default and an opportunity to cure within a stated period. Termination before the period expires is itself a breach, and the notice must typically identify the default with specificity.
Non-curable defaults may permit immediate termination.
Alternative Names:
Right to Cure|Cure Rights
Why it Matters?
Terminating without complying with notice and cure requirements converts the terminating party into the breaching party, which is the most consequential error in contract termination. Notice that fails to identify the default specifically enough to permit cure does not start the period. Where a default is genuinely incurable, the contract should say so expressly rather than relying on an argument that cure was impossible.
Frequently Confused with
Related terms
Frequently asked questions
What happens if termination precedes cure expiration?
What must the notice contain?
