Laserfiche WebLink
<br />SECTION 8 - Defaults by Customer and NORESCO <br /> <br />(a) <br /> <br />(b) <br /> <br />Customer shall be in default under this Agreement upon the occurrence of <br />any of the following: <br /> <br />(i) <br /> <br />(ii) <br /> <br />Customer fails to pay when due any amount to be paid under this <br />Agreement and such failure continues for a period of thirty (30) <br />days after notice of overdue payment; <br /> <br />Customer fails to perform or meet any of its required duties or <br />obligations under this Agreement and fails to cure such failure and <br />the effects of such failure within thirty (30) days of receipt of notice <br />of default, unless such failures and effects cannot be completely <br />cured within thirty (30) days after said written notice, in which case <br />a default shall exist only if Customer does not commence and <br />diligently pursue to cure such failure and effects as soon as <br />possible; <br /> <br />(iii) <br /> <br />Customer goes into receivership, or makes an assignment for the <br />benefit of creditors whether voluntary or involuntary, or a petition is <br />filed by or against the Customer under any bankruptcy, insolvency <br />or similar law and such petition is not dismissed within sixty (60) <br />days; or <br /> <br />NORESCO shall be in default under this Agreement upon the occurrence <br />of the following: <br /> <br />(i) <br /> <br />NORESCO fails to perform or meet any of its required duties or <br />obligations under this Agreement and fails to cure such failure or <br />effects of such failure within thirty (30) days of receipt of written <br />notice of default, unless such failure or effects cannot be <br />completely cured within thirty (30) days after said written notice, in <br />which case a default shall exist only if NORESCO does not <br />commence and diligently pursue to cure such failure as soon as <br />possible. <br /> <br />(ii) <br /> <br />NORESCO goes into receivership, or makes an assignment for the <br />benefit of creditors whether voluntary or involuntary, or a petition is <br />filed by or against the NORESCO under any bankruptcy, <br />insolvency or similar law and such petition is not dismissed within <br />sixty (60) days; or <br /> <br />-5- <br /> <br />12/12/00 <br />