Option to cure

{
  "id": "MLC-T-LAW-003565",
  "term": "Option to cure",
  "field": "Law",
  "definition": "A contractual provision that grants a party in breach of an agreement the right to remedy the default within a specified timeframe, thereby preventing the termination of the contract or other penalties. This option allows the breaching party to correct the deficiency before the non-breaching party can exercise remedies. It is frequently found in leases and loan agreements.",
  "url": "https://mlchart.com/terminology/law/option-to-cure/"
}