CURE PAYMENTS Sample Clauses

CURE PAYMENTS. If Grantor shall fail to pay any tax, assessment, lien or other charge levied or assessed against the Mortgaged Property, or any part thereof, or shall fail to keep and perform any of the covenants and conditions herein contained, Trustee or Beneficiary, shall be privileged, but shall not be obligated, to pay any such tax, assessment, lien, rent or other charge, to redeem such property from any sale or foreclosure for taxes or assessments or liens, to effect and pay for insurance required hereunder, to perform or pay for any other obligations, and to make such other disbursements as are necessary or advisable in the opinion of Trustee or Beneficiary to cure any default of Grantor hereunder or protect the lien or the rights of Trustee and Beneficiary hereunder; any and all such sums of money advanced for such purposes by Trustee or Beneficiary shall be deemed additional Indebtedness secured by this Deed of Trust and shall be payable on demand with interest accruing from the time so advanced at the highest rate per annum set forth under the Notes (or if no rate is specified, at the maximum lawful rate), and failure on the part of Grantor to repay the amounts so advanced on demand shall constitute an event of default hereunder; provided, however, nothing herein contained shall be construed as requiring Trustee or Beneficiary to effect such insurance or to advance or expend money or take any action for any of the purposes aforesaid.

CURE PAYMENTS. SCHEDULE 4.1(m) sets forth as of March 1, 2002 and as of April 1, 2002 the approximate amount of all cure payments required to be made under section 365 of the Bankruptcy Code with respect to each Contract listed on SCHEDULE 1.1(d).

CURE PAYMENTS. Except as to the Permitted Encumbrances and the -------------- Assumed Liabilities (to the extent the Assumed Liabilities are assumed by POC under Section 3.3), all cure payments which may be required to be made pursuant to Bankruptcy Code section 365(b)(1) under or with respect to any of the Easements or any Contract to which CPSC and a Person other than POC (in POC's individual corporate capacity or in any other capacity) are parties, and all other amounts that have become due and owing prior to the Closing under or with respect to any of the Easements or any Contract to which CPSC and a Person other than POC are parties shall be made by CPSC on the Closing Date. Neither POC, its Affiliates, their successors or assigns nor their Representatives shall be responsible for any cure payments required to be made under Bankruptcy Code section 365(b)(1) in connection with any of the Acquired Assets or that otherwise arise with respect to any period, or that are due and owing, prior to the Closing, except as to the Permitted Encumbrances. Except as to the Permitted Encumbrances and the Assumed Liabilities (to the extent the Assumed Liabilities are assumed by POC under Section 3.3), if a dispute exists on the Closing Date as to the amount required under Bankruptcy Code section 365(b)(1) to be paid to any party to an Easement or any such Contract in order for such Easement or Contract to be assumed, pending a determination by the Bankruptcy Court after the Closing Date of the actual amount owing, an appropriate reserve, as determined by the Bankruptcy Court or by agreement of the parties, shall be maintained by CPSC to cover any additional amount that the Bankruptcy Court ultimately may determine to be due to such party in connection with such Easement or Contract. Following assignment by CPSC to POC of the Easements and such Contracts on the Closing Date, POC shall be responsible, as assignee of CPSC, for the performance under such assumed and assigned Easements and Contracts of all obligations of CPSC thereunder that first arise after the Closing (provided, that POC shall specifically not be responsible for any obligations, including indemnities, pertaining to events which occurred prior to the Closing Date). Neither POC nor its Affiliates, their successors or assigns nor their Representatives shall have any liability under any unexpired lease or executory Contract and shall have no liability under an assumed and assigned Easement or Contract other than for the p...

CURE PAYMENTS. Subject to the prior approval of the Bankruptcy Court, Seller will, on or prior to the Closing, make Cure Payments, as are necessary up to an aggregate of $100,000, under any Assumed Leases, Additional Agreements (to the extent such Additional Agreements are identified prior to the Closing) or Assigned Contracts in order that such Assumed Lease, Additional Agreement or Assigned Contract may be assigned to and assumed by Purchaser in accordance with the provisions of Section 365 of the Bankruptcy Code and this Agreement. Seller and Purchaser agree to use their commercially reasonable efforts to minimize, and to cooperate with and assist the other in, minimizing the Cure Payments.

CURE PAYMENTS. Notwithstanding paragraph 1 of this Sixth Forbearance Agreement Amendment, the Borrower shall cure the April 13, 1999 Interest Payment Date Event of Default by making weekly payments of $150,000 each commencing on Friday, April 16, 1999 and continuing on Friday of each week thereafter until the April 13, 1999 Interest Payment Date Event of Default is cured; provided, however, that: (a) the $150,000 payment due on April 23, 1999 pursuant to this paragraph shall first be applied as the April 21, 1999 Interest Payment (and no Default shall arise exclusively from the Borrower's failure to make the April 21, 1999 Interest Payment on April 21, 1999) and (b) the Borrower shall have paid all amounts necessary to cure the April 13, 1999 Interest Payment Date Event of Default by no later than June 11, 1999.

CURE PAYMENTS. In the event that Mezzanine Lender makes a cure payment in accordance with this Section 11 and all or any portion of such amount is paid by Borrower or any other Person on Borrower’s behalf to Senior Lender and is specifically designated by Borrower or such other Person making such payment, and so long as no other payment is then due and owing pursuant to the Senior Loan Documents and no Enforcement Action is ongoing, then Senior Lender shall promptly remit such payment (or such portion of such payment up to the amount paid by Mezzanine Lender in connection with the applicable cure) to Mezzanine Lender.

CURE PAYMENTS. All conditions to assumption of the Real Estate Leases shall have been satisfied, including the making of any cure payments on the Exit Facility Date (or such later date as may be agreed upon in writing by the Borrower and the applicable lessor with the written consent of the Majority Banks), all as required by Section 365(b) of the Bankruptcy Code.

CURE PAYMENTS. Subject to the prior approval of the Bankruptcy Court, the Purchaser will, on or prior to the Closing, make the Cure Payments under any Assigned Contract in order that such Assigned Contract may be assigned to and assumed by the Purchaser in accordance with the provisions of Section 365 of the Bankruptcy Code and this Agreement.

CURE PAYMENTS. If the Department of Labor, the IRS, or other competent authority determines that Seller or any of its subcontractors failed to comply with the Prevailing Wage Requirements or the Apprenticeship Requirements, Seller shall within five (5) Business Days of written demand following a final and unappealable finding of violation, correct, pay or reimburse OTP or Affiliate for any Cure Payment required to be made (whether to any Laborer or Mechanic or to the Secretary of the Treasury) as well as any reasonable attorneys’ fees incurred by OTP or an Affiliate due to such failure. Any payment or reimbursement by Seller to OTP or an Affiliate shall be, to the extent permitted by applicable law, treated as non-taxable to such recipient, and otherwise shall be grossed up by the amount of additional U.S. federal income taxes due by such recipient on account of such payment or reimbursement, net of any credits, deductions, or other tax benefits actually realized by recipient that are attributable to such base amount or tax. Seller’s obligations under this Section 1.08 shall survive until the date that is ninety (90) days after the expiration of the relevant statute of limitations (as it may be extended). Notwithstanding anything else in the Contract to the contrary, any Cure Payments made shall not be subject to or contribute towards any limitations of liability.

CURE PAYMENTS. Each of the Obligors shall pay to each of the Facility Beneficiaries on demand all and any Cure Payments made by any Facility Beneficiary. Each Facility Beneficiary shall promptly notify the Bluewater Agent of any Cure Payment made by it.