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3. Either Party defaults in the performance or observance of any other provision,term
<br /> or covenant included in this Agreement, and such default continues for a period of
<br /> thirty (30) Days after notification of default, except for provisions of this
<br /> Agreement providing for other specific time periods;provided,however,that when
<br /> a default cannot reasonably be cured within such thirty (30) Day period, if the
<br /> defaulting Party shall proceed promptly to cure the same and prosecute such curing
<br /> with due diligence, the timer for curing such default shall be extended for such
<br /> period of time as may be necessary to complete such curing;
<br /> 4. A proceeding is instituted in respect of either Party seeking to have an order for
<br /> relief in respect of such party,or seeking declaration or entailing a finding that such
<br /> party is insolvent or a similar declaration or fmding,or seeking dissolution,winding
<br /> up, charter revocation or forfeiture, liquidation, reorganization, arrangement,
<br /> adjustment,composition or other similar relief with respect to such Party,its assets
<br /> or its debts under any law relating to bankruptcy, insolvency, relief of debtors or
<br /> protection of creditors,termination of legal entities or any other similar law now or
<br /> hereafter in effect, or seeking appointment of a receiver, trustee, custodian,
<br /> liquidator,assignee,sequestrator or other similar official for such Party or for all or
<br /> any substantial part of its property,and any such proceeding shall result in the entry,
<br /> making or granting of any such order for relief, declaration, relief or appointment,
<br /> or such proceeding remains undismissed or unstayed for a period of thirty (30)
<br /> consecutive days;
<br /> 5. Either Party becomes insolvent,becomes generally unable to pay its debts as they
<br /> become due,voluntarily suspends transaction of business,makes an assignment for
<br /> the benefit of creditors, institutes any of the proceedings described in subsection
<br /> 19.A.4 above or consents thereto, dissolves, winds up or liquidates itself or any
<br /> substantial part of its property, or takes any action in furtherance of any of the
<br /> foregoing; or
<br /> 6. Either Party is in violation of any applicable laws or other legal requirements and
<br /> such violation continues for thirty (30) full business days after notice thereof;
<br /> provided, however,that when a violation cannot reasonably be cured within such
<br /> thirty(30)day period,if the Party in violation shall proceed promptly to correct the
<br /> same and prosecute such correction with due diligence,the time for correcting such
<br /> violation shall be extended for such period of time as may be necessary to complete
<br /> such correction.
<br /> B. Upon the occurrence of any of the foregoing Events of Default,the non-defaulting
<br /> Party shall have and may exercise the rights and remedies specified below and such other rights
<br /> and remedies as are available to it under law or at equity, including the right to terminate this
<br /> Agreement, in whole or in part, and without liability therefor, by written notice to the defaulting
<br /> Party. The exercise of any such right or remedy shall not preclude the exercise of any other right
<br /> or remedy.
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<br /> Fiber Optic Cable Master License Agreement
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