By BREP. In the event the State has exercised the State Step-In Rights and such Loss of Availability has continued beyond forty-eight (48) hours after the State’s commencement of the State Step-In Rights (either directly or through JCI), BREP may seek to end the State Step-In Rights by delivering BREP’s Plan of Correction. As expeditiously as is feasible after receipt of BREP’s Plan of Correction by the State, taking into consideration the nature and extent of Loss of Availability, the Parties will use Commercially Reasonable Efforts to agree on BREP’s Plan of Correction; provided, that BREP may not terminate the State Step-In Rights and regain control of the Covered Assets unless and until the State, in the exercise of its Commercially Reasonable Efforts, has approved BREP’s Plan of Correction, which will be granted or withheld as soon as practicable by the State, and if withheld will be accompanied by a reasonably detailed explanation for the reasons the State’s approval is being withheld. Thereafter, for so long as BREP is diligently providing the Services described in the approved BREP’s Plan of Correction, the State Step-In Rights will terminate with respect to the Loss of Availability that triggered the exercise of such State Step-In Rights. For so long as it is pursuing a BREP’s Plan of Correction pursuant to this Section 8.4.1, BREP will keep the State reasonably apprised of its efforts in implementing the BREP’s Plan of Correction and status of resolution of the Loss of Availability.
By BREP. BREP may terminate this Agreement prior to the Expiry Date only upon:
10.2.2.1 a State Event of Major Default related to this Agreement or a Lessor Event of Major Default under the Xxxx Center Plant Lease (Termination by BREP for Cause), in such case to be exercised within sixty (60) days after the expiration of any applicable cure period for such State Event of Major Default;
10.2.2.2 a Major Casualty Event affecting the Xxxx Center Plant or total cessation of operations and use of the Xxxx Center Building through casualty (Termination by BREP for Necessity), in either case to be exercised within sixty (60) days of the event giving rise to such termination right; or
By BREP. Subject to Force Majeure as provided in Section 11.4, the occurrence of any of the following events shall constitute a BREP Event of Default:
11.1.2.1 BREP fails to cure its breach of a non-monetary obligation under this Agreement (other than an Unexcused Loss of Availability that lasts for more than forty eight (48) hours during a Service Year) within thirty (30) days after BREP receives notice from the State of the breach; provided, that if such breach cannot reasonably be cured during such 30-day period, BREP will be entitled to an additional thirty (30)-day period within which to cure its breach, so long as it will have begun to cure such breach within the initial thirty (30)-day period and is diligently pursuing such cure;
11.1.2.2 BREP fails to make any monetary payment due the State under this Agreement within thirty (30) days after BREP receives notice from the State of such payment being past due;
11.1.2.3 There occurs more than five (5) Unexcused Losses of Availability, each with a duration greater than four (4) hours, during any single Service Year; or
11.1.2.4 There shall occur a BREP Event of Default under the Xxxx Center Plant Lease (as such term is defined therein).
By BREP. BREP may terminate this Lease prior to the Expiry Date only upon:
(1) a Lessor Event of Major Default related to this Lease or a State Event of Major Default under the Xxxx Center Thermal Services Agreement (Termination by BREP for Cause), in such case to be exercised within sixty (60) days after the expiration of any applicable cure period for such Lessor Event of Major Default or State Event of Major Default, as applicable;
(2) a Major Casualty Event affecting the Xxxx Center Plant or total cessation of operations and use of the Xxxx Center Building through casualty (Termination by BREP for Necessity), in either case to be exercised within sixty (60) days of the event giving rise to such termination right; or
(3) upon an Extended Force Majeure Event that substantially prevents Lessor or BREP from continuing its performance of substantially all of its obligations under this Lease or the Xxxx Center Thermal Services Agreement (Termination by BREP for Necessity), in such case to be exercised within ninety (90) days after the occurrence of such Extended Force Majeure Event. BREP may not terminate this Lease without simultaneously terminating the Xxxx Center Thermal Services Agreement.
By BREP. Subject to Force Majeure as provided in Section 15.4, the occurrence of any of the following events shall constitute a BREP Event of Default:
(1) BREP fails to cure its breach of a non-monetary obligation under this Lease within thirty (30) days after BREP receives notice from Lessor of the breach; provided, that if such breach cannot reasonably be cured during such 30-day period, BREP will be entitled to an additional thirty (30)-day period within which to cure its breach, so long as it will have begun to cure such breach within the initial thirty (30)-day period and is diligently pursuing such cure;
(2) BREP fails to make any monetary payment due Lessor under this Lease within thirty (30) days after BREP receives notice from Lessor of such payment being past due; or
(3) There shall occur a BREP Event of Default under the Xxxx Center Thermal Services Agreement (as such term is defined therein). For purposes of this Lease, each of (i) a BREP Event of Default described in Section 15.1b(2) and (ii) a BREP Event of Default that constitutes a BREP Event of Major Default under the Xxxx Center Thermal Services Agreement (as such term is defined therein), will be deemed to constitute a “BREP Event of Major Default.”
By BREP. Subject to Force Majeure as provided in Section 26, the occurrence of any of the following events shall constitute a BREP Event of Default:
i. BREP fails to cure its breach of a non-monetary obligation under this Agreement within thirty (30) days after BREP receives notice from the State of the breach; provided, that if such breach cannot reasonably be cured during such 30-day period, BREP will be entitled to an additional thirty (30)-day period within which to cure its breach, so long as it will have begun to cure such breach within the initial thirty (30)-day period and is diligently pursuing such cure;
ii. BREP fails to make any monetary payment due the State under this Agreement within thirty (30) days after BREP receives notice from the State of such payment being past due. For purposes of this Agreement, a BREP Event of Default described in Section 19.b.ii will be deemed to constitute a “BREP Event of Major Default.”
By BREP. BREP may terminate this Agreement prior to the Expiry Date upon a State Event of Major Default under this Agreement (Termination by BREP for Cause).
