(810 ILCS 5/2A-403)
(from Ch. 26, par. 2A-403)
Retraction of anticipatory repudiation.
(1) Until the repudiating party's next performance is
due, the repudiating party can retract the repudiation unless,
since the repudiation, the aggrieved party has cancelled the
lease contract or materially changed the aggrieved party's
position or otherwise indicated that the aggrieved party
considers the repudiation final.
(2) Retraction may be by any method that clearly
indicates to the aggrieved party that the repudiating party
intends to perform under the lease contract and includes any
assurance demanded under Section 2A-401.
(3) Retraction reinstates a repudiating party's rights
under a lease contract with due excuse and allowance to the
aggrieved party for any delay occasioned by the repudiation.
(Source: P.A. 87-493.)