Common use of Continuance of Default Clause in Contracts

Continuance of Default. For purposes of all Loan Documents, (a) a Default which is capable of being remedied shall be deemed to exist until the Lender shall have actually received evidence reasonably satisfactory to Lender that such Default shall have been remedied and (b) a Default not capable of being remedied shall be deemed to exist until waived in accordance with the Loan Document.

Continuance of Default. For purposes of all Loan Documents, (a) a Default which is capable of being remedied shall be deemed to exist until the Lender each Bank shall have actually received evidence reasonably satisfactory to Lender it that such Default shall have been remedied and (b) a Default not capable of being remedied shall be deemed to exist until waived in accordance with the Loan Document.

Continuance of Default. For purposes of all Loan Documents, (a) a Default which is capable of being remedied shall be deemed to exist until the Lender Bank shall have actually received evidence reasonably satisfactory to Lender Banks that such Default shall have been remedied and (b) a Default not capable of being remedied shall be deemed to exist until waived in accordance with the Loan Document.

Continuance of Default. For purposes of all Loan Documents, (a) a Default which is capable of being remedied shall be deemed to exist until the Lender Bank shall have actually received evidence reasonably satisfactory to Lender Bank that such Default shall have been remedied and (b) a Default not capable of being remedied shall be deemed to exist until waived in accordance with the Loan Document.