Licensor Default

Licensor Default. Failure by a Licensor to perform its obligations under this MSA within 15 days after written notice is delivered by Customer to such Licensor specifying the obligation which Licensor has failed to perform; provided, however, that if the nature of such Licensor's obligation is such that more than 15 days are required for performance, then such Licensor shall not be in breach or default (and a Licensor Default shall not exist) if such Licensor commences performance within such 15-day period and... thereafter diligently prosecutes the same to completion. View More