Common use of Covenant Defaults Clause in Contracts

Covenant Defaults. If Borrower shall continue to be in default under any of the other terms, covenants or conditions of this Agreement not specified in subsections (a) to (l) above, for ten (10) days after notice to Borrower from Lender, in the case of any Default which can be cured by the payment of a sum of money, or for thirty (30) days after notice from Lender in the case of any other Default; provided, however, that if such nonmonetary Default is susceptible of cure but cannot reasonably be cured within such 30-day period and Borrower shall have commenced to cure such default within such 30-day period and thereafter diligently and expeditiously proceeds to cure the same, such 30-day period shall be extended for an additional period of time as is reasonably necessary for Borrower in the exercise of due diligence to cure such Default, but the aggregate cure period under this subsection (xiii) shall not exceed one hundred and twenty (120) days.

Appears in 1 contract

Samples: Loan Agreement (Colony Resorts LVH Acquisitions LLC)

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Covenant Defaults. If Borrower any Obligor shall continue to be in default under any of the other terms, covenants or conditions of this Agreement not specified in subsections (ai) to (lxi) above, for ten (10) days after notice to Borrower such Obligor from Lender, in the case of any Default which can be cured by the payment of a sum of money, or for thirty (30) days after notice from Lender in the case of any other Default; provided, however, that if such nonmonetary Default is susceptible of cure but cannot reasonably be cured within such 30-day period and Borrower provided further that such Obligor shall have commenced to cure such default within such 30-day period and thereafter diligently and expeditiously proceeds to cure the same, such 30-day period shall be extended for an additional period of time as is reasonably necessary for Borrower Obligor in the exercise of due diligence to cure such Default, but the aggregate cure period under this subsection (xiiixii) shall not exceed one hundred and twenty (120) 120 days.; or

Appears in 1 contract

Samples: Loan Agreement (Starwood Hotel & Resorts Worldwide Inc)

Covenant Defaults. If Borrower shall continue to be in default under any of the other terms, covenants or conditions of this Agreement not specified in subsections (a) to (l) above, for ten (10) days after notice to Borrower from Lender, in the case of any Default which can be cured by the payment of a sum of money, or for thirty (30) days after notice from Lender in the case of any other Default; provided, however, that if such nonmonetary Default is susceptible of cure but cannot reasonably be cured within such 30-day period and Borrower shall have commenced to cure such default within such 30-day period and thereafter diligently and expeditiously proceeds to cure the same, such 30-day period shall be extended for an additional period of time as is reasonably necessary for Borrower in the exercise of due diligence to cure such Default, but the aggregate cure period under this subsection (xiiim) shall not exceed one hundred and twenty (120) days.

Appears in 1 contract

Samples: Loan Agreement (Colony Resorts LVH Acquisitions LLC)

Covenant Defaults. If any Borrower or Operating Lessee shall continue to be in default under any of the other terms, covenants or conditions of this Agreement not specified in subsections (ai) to (lxi) above, for ten (10) days after notice to Borrower Borrowers from Lender, in the case of any Default which can be cured by the payment of a sum of money, or for thirty (30) days after notice from Lender in the case of any other Default; provided, however, that if such nonmonetary non-monetary Default is susceptible of cure but cannot reasonably be cured within such 30-day period and Borrower Borrowers or Operating Lessees shall have commenced to cure such default within such 30-day period and thereafter diligently and expeditiously proceeds to cure the same, such 30-day period shall be extended for an additional period of time as is reasonably necessary for Borrower Borrowers or Operating Lessees in the exercise of due diligence to cure such Default, but the aggregate cure period under this subsection (xiiixii) shall not exceed one hundred and twenty (120) days.. 117

Appears in 1 contract

Samples: Loan Agreement (Strategic Hotel Capital Inc)

Covenant Defaults. If any Borrower shall continue to be in default under any of the other terms, covenants or conditions of this Agreement not specified in subsections (ai) to (lxi) above, for ten (10) days after notice to Borrower Borrowers from Lender, in the case of any Default which can be cured by the payment of a sum of money, or for thirty (30) days after notice from Lender in the case of any other Default; provided, however, that if such nonmonetary non-monetary Default is susceptible of cure but cannot reasonably be cured within such 30-day period and Borrower Borrowers shall have commenced to cure such default within such 30-day period and thereafter diligently and expeditiously proceeds to 109 cure the same, such 30-day period shall be extended for an additional period of time as is reasonably necessary for Borrower in the exercise of due diligence to cure such Default, but the aggregate cure period under this subsection (xiiixii) shall not exceed one hundred and twenty (120) days.

Appears in 1 contract

Samples: First Mezzanine Loan Agreement (Strategic Hotel Capital Inc)

Covenant Defaults. If Borrower any Issuer or Operating Lessee shall continue to be in default under any of the other terms, covenants or conditions of this Agreement Indenture not specified in subsections Sections (ai) to (lxi) above, for ten (10) days after notice to Borrower Issuers from LenderNote Trustee, in the case of any Default which can be cured by the payment of a sum of money, or for thirty (30) days after notice from Lender Note Trustee in the case of any other Default; provided, however, that if such nonmonetary non-monetary Default is susceptible of cure but cannot reasonably be cured within such 30-day period and Borrower Issuers or Operating Lessees shall have commenced to cure such default within such 30-day period and thereafter diligently and expeditiously proceeds to cure the same, such 30-day period shall be extended for an additional period of time as is reasonably necessary for Borrower Issuers or Operating Lessees in the exercise of due diligence to cure such Default, but the aggregate cure period under this subsection Section (xiiixii) shall not exceed one hundred and twenty (120) days.. 151

Appears in 1 contract

Samples: Indenture (Strategic Hotel Capital Inc)

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Covenant Defaults. If any Borrower shall continue to be in default under any of the other terms, covenants or conditions of this Agreement not specified in subsections (ai) to (lxi) above, for ten (10) days after notice to Borrower Borrowers from Lender, in the case of any Default which can be cured by the payment of a sum of money, or for thirty (30) days after notice from Lender in the case of any other Default; provided, however, that if such nonmonetary non-monetary Default is susceptible of cure but cannot reasonably be cured within such 30-day period and Borrower Borrowers shall have commenced to cure such default within such 30-day period and thereafter diligently and expeditiously proceeds to cure the same, such 30-day period shall be extended for an additional period of time as is reasonably necessary for Borrower in the exercise of due diligence to cure such Default, but the aggregate cure period under this subsection (xiiixii) shall not exceed one hundred and twenty (120) days.

Appears in 1 contract

Samples: Second Mezzanine Loan Agreement (Strategic Hotel Capital Inc)

Covenant Defaults. If any Borrower Party shall continue to be in default under any of the other terms, covenants or conditions of this Agreement or any other Loan Document not specified in subsections SUBSECTIONS (ai) to TO (lx) above, above for ten (10) days after notice to Borrower from LenderAgent, in the case of any Default which that can be cured by the payment of a sum of money, or for thirty (30) days after notice from Lender Agent in the case of any other Default; providedPROVIDED, howeverHOWEVER, that if such nonmonetary Default is susceptible of cure but cannot reasonably be cured within such 30-day period and PROVIDED FURTHER that Borrower shall have commenced to cure such default within such 30-day period and thereafter diligently and expeditiously proceeds to cure the same, such 30-day period shall be extended for an additional period of time as is reasonably necessary for Borrower in the exercise of due diligence to cure such Default, but the aggregate cure period under this subsection SUBSECTION (xiiixii) shall not exceed one hundred and twenty eighty (120180) days.;

Appears in 1 contract

Samples: Credit Agreement (Beacon Capital Partners Inc)

Covenant Defaults. If any Borrower or Operating Lessee shall continue to be in default under any of the other terms, covenants or conditions of this Agreement not specified in subsections (ai) to (lxi) above, for ten (10) days after notice to Borrower Borrowers from Lender, in the case of any Default which can be cured by the payment of a sum of money, or for thirty (30) days after notice from Lender in the case of any other Default; provided, however, that if such nonmonetary non-monetary Default is susceptible of cure but cannot reasonably be cured within such 30-day period and Borrower Borrowers or Operating Lessees shall have commenced to cure such default within such 30-day period and thereafter diligently and expeditiously proceeds to cure the same, such 30-day period shall be extended for an additional period of time as is reasonably necessary for Borrower Borrowers or Operating Lessees in the exercise of due diligence to cure such Default, but the aggregate cure period under this subsection (xiiixii) shall not exceed one hundred and twenty (120) days.

Appears in 1 contract

Samples: Loan Agreement (Strategic Hotel Capital Inc)

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