- In case a Party commits an act constituting an event of default, the non-defaulting Party may terminate this Agreement by serving a written notice to the defaulting Party specifying the ground for termination and giving the defaulting Party a period of ________ days within which to rectify the default to the satisfaction of the non-defaulting Party. If the default is not remedied within this period to the satisfaction of the non-defaulting Party, then the latter will serve upon the former a written notice of termination indicating the effective date of termination.