A "cure period" refers to a specific time frame given to someone to rectify or fix a mistake, problem, or breach of agreement before facing consequences or penalties. Full definition
You should also note that the right to cure period in Alabama is 30 days. (800loanmart.com)
Management was unhappy about at having to liquidate carefully accumulated assets at fire sale prices, lenders were getting near the end of their tolerance for further cure period extensions, and erstwhile bondholders were wondering what the heck they were doing holding a penny stock. (longtermvalue.wordpress.com)