Cure Period

[Thiago Chagas]

The current version of the CERSPA defines a 60-day cure period for the defaulting party to fix the cause of the default (clause 10.02). However, the cure period will not necessarily apply to all events of default in the same manner. For instance, events such as "negligently providing information or making representations that are materially false" and dissolution, liquidation or bankruptcy would not, in principle, entitle the defaulting party to a cure period.

This issue is being addressed in the current review of the CERSPA. Any comments and opinions are welcomed.

 

[rosullivan]

Thanks Thiago,
I agree with this edit - makes perfect sense to me.
Bob