Common use of Cure of Defaults Clause in Contracts

Cure of Defaults. Seller shall (i) cure any default in base rental payments arising under the Leases and outstanding as of the Closing Date; and (ii) use commercially reasonable efforts to cure any and all other defaults with respect to the Assigned Contracts.

Appears in 1 contract

Samples: Asset Purchase Agreement (Rankin Automotive Group Inc)

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Cure of Defaults. Seller shall shall, subject to the occurrence of the Closing, (i) cure any default in base rental payments arising under the Leases Lease and outstanding as of the Closing Date; and (ii) use commercially reasonable efforts to cure any and all other defaults with respect to the Assigned Contracts, as provided in Section 365 of the Bankruptcy Code, so that such Assigned Contracts may be assigned to Purchaser in accordance with the provisions of Section 365 of the Bankruptcy Code.

Appears in 1 contract

Samples: Asset Purchase Agreement (Aps Holding Corporation)

Cure of Defaults. Seller shall (i) cure any default in base rental payments (other than defaults that Seller is contesting in good faith) arising under the Leases and known by Seller to be outstanding as of the Closing Date; and (ii) use commercially reasonable efforts to cure any and all other defaults known by Seller to be outstanding as of the Closing Date with respect to the Assigned Contracts.

Appears in 1 contract

Samples: Asset Purchase Agreement (Rankin Automotive Group Inc)

Cure of Defaults. Seller shall shall, on or prior to the Closing Date: (i) cure any default in base rental payments arising under the Leases Lease and outstanding as of the Closing Date; and (ii) use commercially reasonable efforts to cure any and all other defaults with respect to the Assigned ContractsContracts as provided in Section 365 of the Bankruptcy Code, so that such Assigned Contracts may be assigned to Purchaser in accordance with the provisions of section 365 of the Bankruptcy Code.

Appears in 1 contract

Samples: Asset Purchase Agreement (Parts Source Inc)

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Cure of Defaults. Seller shall (i) cure any default in base rental payments arising under the Leases Lease and outstanding as of the Closing Date; and (ii) use commercially reasonable efforts to cure any and all other defaults with respect to the Assigned Contracts, as provided in Section 365 of the Bankruptcy Code, so that such Assigned Contracts may be assigned to Purchaser in accordance with the provisions of section 365 of the Bankruptcy Code.

Appears in 1 contract

Samples: Asset Purchase Agreement (Rankin Automotive Group Inc)

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