The grace period following a notice of default during which the defaulting party must remedy the breach before the non-defaulting party may exercise its remedies under the lease.
Cure periods protect both parties by preventing immediate lease termination for curable defaults. Standard commercial lease cure periods: 3–5 business days for monetary defaults (unpaid rent); 30 days for non-monetary defaults, with an extension of up to 60–90 additional days if the defaulting party is diligently pursuing cure of a default that cannot be cured within 30 days. Some defaults are non-curable (e.g., unauthorized assignment, second default within 12 months), meaning they immediately trigger remedies without a cure period. Lease abstracts must document both the notice period and the cure period for both landlord and tenant defaults.
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