Common use of Covenant Defaults Clause in Contracts

Covenant Defaults. If Borrower fails fully and timely to perform or observe any non-monetary covenant, agreement, or warranty contained in this Agreement or in any of the other Loan Documents and such failure continues for a period of thirty (30) days after notice of such failure is furnished by Lender; provided, however, that if Borrower commences to cure such failure within such thirty (30) day period but, because of the nature of such failure, cure cannot be completed within thirty (30) days, notwithstanding Borrower's good faith best efforts to do so, then, provided that Borrower diligently seeks to complete such cure, an Event of Default shall not be deemed to have occurred unless such failure continues for a total of ninety (90) days after notice of such failure has been given by Lender, provided that such failure does not (i) result in substantial financial hardship to Lender; or (ii) materially impair the value of all or any portion of the Collateral, as determined in the reasonable judgment of Lender.

Covenant Defaults. If Borrower fails fully and timely to perform or observe any non-monetary covenant, agreement, or warranty contained in this Agreement or in any of the other Loan Documents and such failure continues for a period of thirty fifteen (3015) days after notice of such failure is furnished by Lender; provided, however, that if Borrower commences to cure such failure within such thirty fifteen (3015) day period but, because of the nature of such failure, cure cannot reasonably be completed within thirty fifteen (3015) days, notwithstanding Borrower's good faith best efforts to do so, then, provided that Borrower diligently seeks to complete such cure, an Event of Default shall not be deemed to have occurred unless such failure continues for a total of ninety thirty (9030) days after notice of such failure has been given by Lender, provided that such failure does not (i) result in substantial financial hardship to Lender; or (ii) materially impair the value of all or any portion of the Collateral, as determined in the reasonable judgment of Lender.

Covenant Defaults. If Borrower fails fully and timely to perform or observe any non-monetary covenant, agreement, covenant or warranty agreement contained in this Agreement or in any of the other Loan Documents and such failure continues for a period of thirty (30) days after notice of such failure is furnished by Lender; provided, however, that if Borrower commences to cure such failure to Lender's reasonable satisfaction within such thirty (30) day period but, because of the nature of such failure, cure cannot be completed within thirty (30) days, notwithstanding Borrower's good faith best efforts to do so, then, provided that Borrower diligently seeks to complete such cure, an Event of Default shall not be deemed to have occurred unless such failure continues for a total of ninety sixty (9060) days after notice of such failure has been given furnished by LenderLender as set forth above, provided that such failure does not (i) result in substantial financial hardship to Lender; or (ii) materially impair the value of all or any portion of the Collateral, as determined in the reasonable judgment of Lender. Notwithstanding the foregoing, Borrower shall not be entitled to any notice or cure rights if Borrower violates Section 6.1(q), 6.1(r) or any of the negative covenants set forth in Section 6.3 above.