Common use of Breaches of Covenants Clause in Contracts

Breaches of Covenants. Mortgagor shall fail to observe or perform any covenant, obligation, condition or agreement contained in this Mortgage or the Note and (i) such failure shall continue for thirty days after Mortgagor's receipt of Holder's written notice to Mortgagor of such failure, or (ii) if such failure is not curable within such thirty-day period, but is reasonably capable of cure within forty-five days, either (A) such failure shall continue for forty-five days or (B) Mortgagor shall not have commenced and continued to prosecute a cure in a manner reasonably satisfactory to Holder within and continuously during the initial thirty-day period; or

Breaches of Covenants. Mortgagor Maker shall fail to observe or perform any covenant, obligation, condition or agreement contained herein, or in this Mortgage the Security Agreement or the Note Mortgage and (i) such failure shall continue for thirty days after MortgagorMaker's receipt of Holder's written notice to Mortgagor the Maker of such failure, or (ii) if such failure is not curable within such thirty-day period, but is reasonably capable of cure within forty-five days, either (A) such failure shall continue for forty-five days or (B) Mortgagor Maker shall not have commenced and continued to prosecute a cure in a manner reasonably satisfactory to Holder within and continuously during the initial thirty-day period; or