then the Corporation may notify the Contractor in writing that he is in default of his contractual obligations and instruct him to correct the default within five (5) working days of receiving the notice.

iii.
  1. The Contractor shall have the right within the given five (5) full working days following the receipt of a notice of default to correct the default and provide the owner with satisfactory proof that appropriate corrective measures have been taken.

  2. If the correction of the default cannot be completed within the five (5) full working days following receipt of the notice, the Contractor shall not be in default if the Contractor:

    1. commences the correction of the default within the five (5) full working days following receipt of the notice;
    2.  provides the Corporation with an acceptable schedule for the progress of such correction; and
    3. completes the correction in accordance with such schedule.