Cure of Defects. If the validity or priority of this Deed of Trust or of any rights or liens created or evidenced hereby with respect to the Mortgaged Property or any material part thereof shall be endangered or questioned, or shall be attacked directly or indirectly, or if any legal proceedings are instituted against Grantor with respect thereto, give written notice thereof within three (3) business days of such event to the Beneficiary and, at Grantor’s own cost and expense, diligently endeavor to cure any defect that may be developed or claimed, and take all necessary and proper steps for the defense of such legal proceedings, including, but not limited to, the employment of counsel acceptable to Beneficiary, the prosecution or defense of litigation and the release or discharge of all adverse claims, and Trustee and Beneficiary, or either of them (whether or not named as parties to legal proceedings with respect thereto), are hereby authorized and empowered to take such additional steps as in their judgment and discretion may be necessary or proper for the defense of any such legal proceedings, including, but not limited to, the prosecution or defense of litigation, and the compromise or discharge of any adverse claims made with respect to the Mortgaged Property, and all expense so incurred of every kind and character shall be a demand obligation owing by Grantor to Beneficiary.
Cure of Defects. Upon receipt of a Non-Compliance Notice, the City and Xxxxx Xxxxx shall agree when and how Xxxxx Xxxxx shall remedy the Material Defect or Latent Defect that is the subject of the Non-Compliance Notice in such manner and at such times as to minimize disruption (to the extent commercially reasonable) to the operation of Phase 1.
Cure of Defects. If the Administrative Agent and the Borrower acting together identifying any ambiguity, omission, mistake, typographical error or other defect in any provision of this Agreement or any other Loan Document, then the Administrative Agent and the Borrower shall be permitted to amend, modify or supplement such provision to cure such ambiguity, omission, mistake, typographical error or other defect, and such amendment, modification or supplement shall become effective without any further action or consent of any other party to this Agreement.
Cure of Defects. If Purchaser raises any such objections to the Commitment and/or Survey within the period set forth in Section 5(c) above, Seller shall have fifteen (15) days after receipt of Purchaser’s objections to notify Purchaser that Seller will remove or cause the Title Company to insure against any such objectionable exceptions. If Seller gives Purchaser notice that Seller cannot or will not cause an objectionable exception to be removed, Purchaser shall provide a written notice to Seller, within fifteen (15) days after receipt of Seller’s notice regarding the objectionable exception, to either proceed with the purchase and take title to the Property subject to such exceptions, or terminate this Agreement after which neither Party would have any further obligations hereunder.
Cure of Defects. During the warranty period, Property Owner/Developer shall, at his sole cost, correct, repair or replace any part or parts of the extension which the District reasonably determines were not constructed in conformity with these Rules and Regulations, approved plans, construction notes or specifications, or which the District determines to be defective, of poor or unworkmanlike quality, or otherwise not in conformity with any applicable warranty. Cure of defects by Property Owner/Developer shall be administered and enforced under the rules set forth in 3.4 of the System Specifications and 7-10 below.
Cure of Defects. If (i) any legal proceedings are instituted challenging or attacking the validity or priority of this Deed of Trust or of any rights or Liens created or evidenced hereby with respect to the Mortgaged Property, or (ii) any adverse claim is made against upon the title to any of the Mortgaged Property other than Permitted Liens, Grantor will give Beneficiary written notice thereof within three (3) business days after Grantor has knowledge of such legal proceedings or adverse claim, and, at Grantor’s own cost and expense, Grantor will diligently endeavor to cure any defect that may be claimed, and Grantor will take all necessary and proper steps for the defense of such legal proceedings, including the employment of counsel reasonably acceptable to Beneficiary, the prosecution or defense of litigation and the release or discharge of all adverse claims. The Trustee and Beneficiary, or either of them (whether or not named as parties to legal proceedings with respect thereto), are hereby authorized and empowered to take such additional steps as in their reasonable judgment and discretion may be necessary or proper for the defense of any such legal proceedings, including the prosecution or defense of litigation, and the compromise or discharge of any adverse claims made with respect to the Mortgaged Property, and all out-of-pocket expenses so incurred shall be a demand obligation owing by Grantor to Beneficiary in accordance with Section 12.03(a) of the Credit Agreement.
Cure of Defects. Borealis, without waiver of any rights or remedies, may at its option, take any action necessary to cure any defects in the title to the Properties without the prior written consent of Golden Phoenix; provided, however, that any such action shall be subject to such restrictions and requirements as exist under the Lease. Golden Phoenix agrees to cooperate with Borealis in any such actions taken and to execute all documents and to take such other action as may be reasonably necessary to assist Borealis but shall not have any obligation to incur costs in so doing. Borealis may charge all reasonable costs and expenses (including attorneys' fees) incurred by Borealis in curing any defect in title to the Properties as Expenditures pursuant to Article IV below. If the United States or any third person attacks the validity of any of the unpatented mining claims included in the Properties, Borealis may, at its option, choose to defend their validity, and in such event Borealis may charge all reasonable costs and expenses (including attorneys' fees) incurred by Borealis in defending the validity of such claims as Expenditures pursuant to Article IV below. Golden Phoenix agrees to give Borealis notice promptly of any such problems as to which it has knowledge.
Cure of Defects. Seller shall have the right, but not the obligation, to cure any such Defect within fifteen (15) Business Days after its receipt of the Defect Notice, or in the case of any Defect which cannot with due diligence be cured within such fifteen (15) Business Day period, such later date by which such Defect can reasonably be cured, provided that Seller commences to cure such Defect within such fifteen (15) Business Day period and thereafter continues diligently and in good faith to cure the Defect, provided, further, that Seller's right to cure any Defect in accordance with the foregoing provisions is subject to compliance with the provisions of Section 2.01(c) of this Agreement applicable to Cure Choice Notices. In the event that Seller elects not to cure any such Defect or is unable to effect such cure prior to the Closing, the Company shall have the remedies provided in Section 2.01(c), this Section 2.01(d) and Section 14 hereof. Notwithstanding anything to the contrary contained in this Agreement, Seller shall have no obligation to cure any Permitted Exceptions and Defects (other than the Must Removes) and shall only have the obligation to cure the Must Removes. If Seller fails to cure any Defects other than the Must Removes, or if by the expiration of the cure period provided for above, Seller has failed to cure all Defects (other than the Must Removes), the Company shall nonetheless be obligated to proceed to close subject to any such Defects. In such event, at the Company's sole election, (a) the Company shall deduct from the applicable Consideration with respect to such Property the cost to cure ("Cost to Cure") such Defect as mutually agreed to by the Company and Seller in their commercially reasonable discretion (it being acknowledged and agreed that if the Cost to Cure exceeds the Consideration allocated to such Property, the Relevant Purchasers may allocate such deduction to the Consideration applicable to any other Properties), or (b) Seller shall place into escrow with the Title Company, pursuant to an escrow agreement in a form mutually agreed to by the parties, the cost to cure such Defect as mutually agreed to by the Company and Seller in their commercially reasonable discretion; provided, however, that in no event shall the amount of such deduction or such escrow, together with all amounts paid by Seller to cure Defects (other than the Must Removes) exceed (i) the portion of the Consideration allocated to such Property, with respect to any ind...
Cure of Defects. If (i) any legal proceedings are instituted challenging or attacking the validity or priority of this Mortgage or of any rights or Liens created or evidenced hereby with respect to the Mortgaged Property, or (ii) any adverse claim is made against upon the title to any of the Mortgaged Property other than Permitted Liens, Mortgagor will give Mortgagee written notice thereof within three (3) business days after Mortgagor has knowledge of such legal proceedings or adverse claim, and, at Mortgagor’s own cost and expense, Mortgagor will diligently endeavor to cure any defect that may be claimed, and Xxxxxxxxx will take all necessary and proper steps for the defense of such legal proceedings, including the employment of counsel reasonably acceptable to Mortgagee, the prosecution or defense of litigation and the release or discharge of all adverse claims, and Mortgagee (whether or not named as a party to legal proceedings with respect thereto), is hereby authorized and empowered to take such additional steps as in its reasonable judgment and discretion may be necessary or proper for the defense of any such legal proceedings, including the prosecution or defense of litigation, and the compromise or discharge of any adverse claims made with respect to the Mortgaged Property, and all out-of-pocket expenses so incurred shall be a demand obligation owing by Mortgagor to Mortgagee in accordance with Section 12.03(a) of the Credit Agreement.
Cure of Defects. Seller shall have five (5) days after receipt of a Defects Notice to notify Buyer (“Seller’s Title Response”) of its intent to correct the defects in the Title Report or the Survey objected to by Buyer. If Seller does not timely provide Seller’s Title Response to Buyer, Seller shall be deemed to have elected not to cure any defects in the Title Report or Survey. If Seller elects (or is deemed to have elected) not to correct such defects, Buyer shall notify Seller within two (2) business days following receipt of Seller’s Title Response (or the expiration of the 5-day response period set forth above), of Buyer’s intention to waive such defect or terminate this Agreement and obtain a refund of the Net Deposit.
