Cure of Events of Default. Notwithstanding the fact that a curable default by Borrower under the Loan Documents does not become an “Event of Default” until the applicable cure period, if any, has elapsed, various provisions of the Loan Documents include the phrase, “upon the occurrence and during the continuance of an Event of Default”, or otherwise imply that Events of Default may be cured. No such provision shall be construed to give Borrower any right to cure any Event of Default. Notwithstanding the fact that the Loan Documents do not permit Borrower to cure any Event of Default, however, any Event of Default shall be deemed cured in the event that (a) Majority Owner, in its sole and absolute discretion, and without any obligation to do so, elects to accept a cure and acknowledges to Borrower in writing that such Event of Default shall be deemed fully cured, or (b) any applicable law provides Borrower with an absolute right (which by law may neither be waived by Borrower nor conditioned upon Majority Owner’s consent) to cure such Event of Default and Borrower timely performs all actions required by such law to effect such cure.
Cure of Events of Default. The Event of Default may be cured by the Defaulting Partner or by any one or more of the non-defaulting Partners, although they shall have no obligation to do so, or by other interested parties by delivering to Manager, within thirty (30) days after the date of the notice of default, evidence satisfactory to Manager that, in the event of a payment default, the amount due, together with interest on such amount at the rate specified in Section 5.1.5, has been received by the party concerned in accordance with the agreement under which the payment is owed or that, in the event of a non-payment default, the obligation to be performed has been performed or that performance thereof has been waived by the party having power to waive the performance of such obligation, or, if it is capable of being cured but not within the 30 day period referred to above, diligent efforts have been commenced within such 30 day period to cure the Event of Default and prosecuted to completion within ninety (90) days; provided, however, that Manager need not permit such extended efforts to cure and shall exercise its authority to disconnect the Defaulting Partner's Project if it concludes, in its sole discretion, that the on-going Event of Default could jeopardize the Qualifying Facility status of the Transmission Line, could have a material adverse effect on the Partnership or the Transmission Line, or would involve circumstances where disconnection would be permitted under Section 7.3 hereof. The payment or performance of the obligations of a Defaulting Partner by a non- defaulting Partner shall not be deemed a cure of such default of any Defaulting Partner unless the nondefaulting Partner specifically notifies the Manager of such intention. Absent such notification, such default shall not be deemed cured, and the Manager shall not reconnect such Defaulting Partner to the Transmission Line until such Defaulting Partner has paid the Manager an amount sufficient to repay or reimburse such nondefaulting Partner or Partners in full for its or their expenditures (including the cost of any cure effected otherwise than by the payment or money), the amount so repaid or reimbursed to include interest at the rate specified in Section 5.1.5.
Cure of Events of Default. If after a default occurs and before any Event of Default occurs, the User has completely cured such default, then in every case such default shall be deemed cured, rescinded and annulled by the Issuer. No such cure, annulment or rescission will affect any subsequent default or impair any right or remedy consequent thereon.
Cure of Events of Default. The Lender may at its absolute discretion, but shall not be required, to cure any default by the Company and Developer under the Development Agreement. The Borrower hereby agrees that any monies advanced by the Lender in furtherance of any cure under the Development Agreement shall be an additional amount secured by and payable under the Note and Mortgage given by the Borrower to the Lender.
Cure of Events of Default. Without Notice, with or without accelerating the Indebtedness, and without releasing Borrower from any of its Obligations, Lender may, in Lender's discretion, but Lender will have no obligation to, cure any Event of Default or any Default occurring or continuing after any Event of Default, and to effect such cure, Lender or its agents may enter upon the Property and perform such actions as Lender deems appropriate to protect its security and its rights and interests under the Loan Documents. All reasonable costs and expenses incurred by Lender in the exercise of any such rights, including any sums paid in connection with any judicial or administrative investigation or proceeding, fines and penalties; together with interest thereon at the Default Rate under the Note from the date of payment by Lender, will be due and payable by Borrower to Lender on demand, and until paid will be added to and become part of the Indebtedness.
