Bank’s Right to Cure. Notwithstanding anything to the contrary in the Lease or this Agreement, Tenant shall give written notice simultaneously to Landlord and to Bank of any default or breach by Landlord under the Lease that are of such a nature as to give Tenant a right to terminate the Lease, to reduce rent, or to credit or offset any amounts against future rents. After Bank receives such notice, Bank shall have the same time period available to Landlord under the Lease in which to cure the breach or default by Landlord. Bank shall have no obligation to cure (and shall have no liability or obligation for not curing) any breach or default by Landlord.
Bank’s Right to Cure. Notwithstanding anything to the contrary set forth in the Parking Agreement, Bank is entitled, but not obligated, to cure any default under the Parking Agreement and that Bank shall have the same period, after such default notice has been given to it, for remedying any default or causing the same to be remedied, as is given Xxxxxx after the giving of such notice to Xxxxxx, plus (i) in the case of a default in the payment of rent or any other monetary obligations of Xxxxxx to the undersigned under the Parking Agreement, an additional period of ten (10) business days, and (ii) in the case of any other default, an additional period of thirty (30) days, and if such default cannot with due diligence be cured within such additional thirty (30) day period, an additional time thereafter, provided that such cure is initiated during such additional thirty (30) day period and thereafter, the curing of the same is prosecuted with diligence; and in all cases the undersigned shall accept any cure or performance by or on behalf of Xxxxxx for all purposes under the Parking Agreement as if performed by Xxxxxx. Unless there is a default under the Parking Agreement which is not cured within any applicable notice and/or cure period by Xxxxxx, or by Bank in accordance with the foregoing, the undersigned shall not terminate the Parking Agreement until the loan(s) provided by Bank to Xxxxxx are repaid in full.
Bank’s Right to Cure. The Bank may from time to time, in its absolute discretion, for the Borrower's account and at the Borrower's expense, pay any amount or do any act required of the Borrower hereunder to preserve, protect, maintain or enforce the Obligations, the Collateral or the Security Interests for the benefit of the Bank, and which the Borrower fails to pay or do, after five (5) days written notice from Bank, including payment of any judgment against the Borrower, insurance premium, taxes or assessments, warehouse charge, financing or processing charge, landlord's claim, and any other Security Interest upon or with respect to the Collateral. All payments that the Bank make pursuant to this Section and all out-of-pocket costs and expenses that the Bank pay or incur in connection with any action taken by them hereunder shall be a part of the Obligations, the repayment of which shall be secured by the Collateral. Any payment made or other action taken by the Bank pursuant to this Section shall be without prejudice to any right to assert an Event of Default hereunder and to pursue the Bank's other rights and remedies with respect thereto.
Bank’s Right to Cure. 56 Section 11.04
Bank’s Right to Cure. The Banks may from time to time, in their absolute discretion, for the Borrower's account and at the Borrower's expense, pay (or, with the consent of the Required Banks, make Loans to pay) any amount or do any act required of the Borrower hereunder or requested by the Agent or the Required Banks to preserve, protect, maintain or enforce the Obligations, the Collateral or the Security Interests for the benefit of the Banks, and which the Borrower fails to pay or do, after five (5) days written notice from Agent, including payment of any judgment against the Borrower, insurance premium, taxes or assessments, warehouse charge, financing or processing charge, landlord's claim, and any other Security Interest upon or with respect to the Collateral. All payments that the Banks make pursuant to this section 11.03 and all out-of-pocket costs and expenses that the Banks pay or incur in connection with any action taken by them hereunder shall be a part of the Obligations, the repayment of which shall be secured by the Collateral. Any payment made or other action taken by the Banks pursuant to this section 11.03 shall be without prejudice to any right to assert an Event of Default hereunder and to pursue the Banks' other rights and remedies with respect thereto.
Bank’s Right to Cure. Upon the happening of any Event of Default which maybe cured by payment of money, Bank will have the right, but not the obligation, to make such payment from the Account or as a Loan advance, thereby curing the default. If as a result of the making of such a payment the sum of the remaining amount of funds in the Account plus the then undisbursed loan proceeds is, in Bank's opinion, insufficient to complete construction of the Improvements, the shortfall will be deposited by Borrower to the account upon Bank's demand. Borrower will have the right to contest in good faith any claim, demand, levy or assessment the assertion of which would constitute an Event of Default hereunder. Any such contest will be prosecuted diligently and in a manner unprejudicial to Bank or the rights of Bank hereunder. Upon demand by Bank, Borrower will make suitable provision by deposit of funds in the Account or by bond or other assurance satisfactory to Bank for the possibility that the contest will be unsuccessful. Such provision will be made within 10 days after demand therefor, and if made by deposit of funds in the Account, the amount so deposited will be disbursed in accordance with the resolution of the contest.
Bank’s Right to Cure. In addition to the other remedies provided to the Bank in the Mortgage and the other Loan Documents, should the Indemnitor fail to abide by any provisions of this Agreement, the Bank may, should it elect to do so, perform any such actions as it, in its sole discretion, deems necessary to repair and remedy any damage to the Premises caused by Hazardous Substances or Contamination. In such event, all funds expended by the Bank in connection with the performance of any of Mortgagor’s or Indemnitor’s obligation to commence and perform any corrective work required to address any environmental damages under this Agreement or applicable Environmental Law, including all attorneys’ fees, engineering fees, consultant fees and similar charges, shall become a part of the obligation secured by the Mortgage and shall be due and payable by the Mortgagor and Indemnitor on demand. Each disbursement made by the Bank pursuant to this provision shall bear interest at the lower of the Default Rate under the Note or the highest rate allowable under applicable laws from the date the Indemnitor shall have received written notice that the funds have been advanced by the Bank until paid in full.
Bank’s Right to Cure. In addition to the other remedies provided to the Bank in the Mortgage and the other Loan Documents, should the Indemnitor fail to abide by any provisions of this Agreement, the Bank may, should it elect to do so, perform any Corrective Work and any other such actions as it, in its sole discretion, deems necessary to repair and remedy any damage to the Property caused by Regulated Substances or Contamination or any such Corrective Work. In such event, all funds expended by the Bank in connection with the performance of any Corrective Work, including all attorneys’ fees, engineering fees, consultant fees and similar charges, shall become a part of the obligation secured by the Mortgage and shall be due and payable by the Indemnitor on demand. Each disbursement made by the Bank pursuant to this provision shall bear interest at the lower of the Default Rate (as defined in the Loan Agreement) or the highest rate allowable under applicable laws from the date the Indemnitor shall have received written notice that the funds have been advanced by the Bank until paid in full.
