Common use of Breach of Terms of Financing Documents Clause in Contracts

Breach of Terms of Financing Documents. (A) Borrower shall fail to (or Borrower shall fail to cause any Project Company to) perform or observe any of the covenants set forth in Sections 7.1, 7.11, 8.1, 8.2, 8.3, 8.4, 8.6, 8.11, 8.17, or 8.18 or (B) Sponsor shall fail to make any payment when due under the Sponsor Indemnity; or (ii) Borrower or any Affiliated Participant shall fail to perform or observe any other covenant to be performed or observed by it hereunder or under any other Financing Document to which it is a party not otherwise specifically provided for elsewhere in this Article 10, and such failure shall continue unremedied for a period of thirty (30) days; provided, however, that upon notice from Borrower to Administrative Agent, such cure period shall be extended to such longer period of time as is reasonably necessary to effect a cure so long as (x) such default could reasonably be expected to be susceptible of a cure after the initial 30-day cure period and (y) Borrower or the Project Companies, as applicable, are diligently and continuously preceding to cure, or cause the cure of, such default; provided, further, that such extended cure period shall not exceed thirty (30) days from the expiration of the initial 30-day cure period.