cure period

Definition

A provision in a contract allowing a defaulting party to fix the cause of a default, for example a repayment grace period.

Use cure period in a sentence

You should try and make sure that you do all you can to make things right if you are in the cure period.

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The cure period was pretty cool to read about and my friend tested me to see if I was really an expert on it.

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The cure period was extending on and it was desirable for Winston to have a way to still salvage the situation after he ran into trouble with the debt.

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curbs out currency