City Default. An event of default on the part of City (“Event of City Default”) shall arise hereunder if City fails to keep, observe, or perform any of its covenants, duties, or obligations under this Agreement, and the default continues for a period of thirty (30) days after written notice thereof from Developer to City, or in the case of a default which cannot with due diligence be cured within thirty (30) days, City fails to commence to cure the default within thirty (30) days of such notice and thereafter fails to prosecute the curing of such default with due diligence and in good faith to completion.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement
City Default. An event of default on the part of City (“Event of City Default”) shall arise hereunder if City fails to keep, observe, or perform any of its covenants, duties, or obligations under this Agreement, and the default continues for a period of thirty (30) days [cure periods to mirror each other] after written notice thereof from Developer to City, or in the case of a default which cannot with due diligence be cured within thirty sixty (3060) days, City fails to commence to cure the default within thirty sixty (3060) days of such notice and thereafter fails to prosecute the curing of such default with due diligence and in good faith to completion.
Appears in 2 contracts
Samples: Disposition and Development Agreement, Disposition and Development Agreement
City Default. An event of default on the part of City (“Event of City Default”) shall arise hereunder if City fails to keep, observe, or perform any of its covenants, duties, or obligations under this Agreement, and the default continues for a period of thirty sixty (3060) days after written notice thereof from Developer to City, or in the case of a default which cannot with due diligence be cured within thirty sixty (3060) days, City fails to commence to cure the default within thirty sixty (3060) days of such notice and thereafter fails to prosecute the curing of such default with due diligence and in good faith to completion.
Appears in 1 contract