Common use of Cure Periods Clause in Contracts

Cure Periods. (i) Subject to Section 11.2(ii), (a) an event or condition of the type described in clause (c) of Section 11.1(i) (exclusive of a default arising solely by virtue of noncompliance with Sections 8.2, 8.3, 8.4, 8.5, 8.7, 8.9, or 8.11, insofar as insurance coverage is no longer in effect, Sections 10.14 or 10.15, or Section 10.28) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if the applicable Borrower or Borrowers fail(s) to cure the default within forty (40) days after the earlier of (1) the date on which the applicable Borrower(s) has knowledge of the existence of such event or condition or (2) the date on which Xxxxxx notifies such Borrower(s) of the existence of such event or condition; however, if a period of cure is provided for in any of the other Loan Documents with respect to a default under such other Loan Documents, the period of cure set forth in this Section 11.2(i)(a) will not be applicable to such default; (b) an event or condition of the type described in clause (g) of Section 11.1(i) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if (1) Xxxxxx shall have first given written notice thereof to Borrowing Agent, and (2) either (A) Borrowers shall fail, within twenty (20) days after the delivery of such notice from Xxxxxx, to deliver a business plan to Xxxxxx which, to the Required Lenders' sole satisfaction, shall provide a reasonably acceptable means to cure such default or (B) Borrowers fail to cure such default to Required Lenders' sole satisfaction within twenty (20) days after Xxxxxx gives Borrowing Agent written approval of such business plan. Nothing in this clause (b) of Section 11.2(i), however, obligates Required Lenders under any circumstances to (w) support any business plan proposed by Borrowers, (x) consider any more than the original business plan proposed by Borrowers, or (y) consider any business plan proposed by Borrowers if any other Event of Default has occurred or then exists; and (c) an event or condition of the type described in clause (a)(1) of Section 11.1(i) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if the applicable Borrower or Borrowers fail(s) to cure the default within five (5) Business Days. (ii) Section 11.2(i) will not be applicable with regard to (a) any Event of Default which by its nature is not susceptible of cure (including, without limitation, any violation of the Financial Covenants), (b) an Event of Default if, within the 12 calendar months immediately preceding the occurrence of such default, any Borrower has previously breached the same provision of this Agreement twice, or (c) any Event of Default, as a result of which, the Required Lenders reasonably believe, in good faith, that there exists an immediate and material risk, threat, or danger to the value of the Loan Collateral or the Lenders' interests in the Loan Collateral, or the collectibility of the Obligations. (iii) Notwithstanding any period of cure as provided in Section 11.2(i), all of the Lenders' rights and remedies under the Loan Documents during the continuance of an Event of Default (subject to Sections 11.2(i) and 11.2(ii)), (including, without limitation, the right to assess the Default Rate), will, at the Required Lenders' option, be applicable until any such Event of Default is cured to the written satisfaction of the Lenders in accordance with Section 14.1.

Cure Periods. (ia) Subject to the provisions of Section 11.2(ii12.2(b), (ai) an event or condition of the type described in clause (c) of Section 11.1(i) 12.1 (exclusive of a default arising solely by virtue of noncompliance with Sections 8.2, 8.3, 8.4, 8.5, 8.7, 8.9, or 8.118.4 or, insofar as insurance coverage is no longer in effect, Sections 10.14 or 10.15, or Section 10.28) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if the applicable Borrower or Borrowers fail(s) fails to cure the default within forty fifteen (4015) days after the earlier of (1x) the date on which a Responsible Officer of the applicable Borrower(s) Borrower has knowledge of the existence of such event or condition or (2y) the date on which Xxxxxx Bank notifies such Borrower(s) Borrower of the existence of such event or condition; provided, however, if a period of cure is provided for in any of the other Loan Documents with respect to a default under such other Loan Documents, the period of cure set forth in this Section 11.2(i)(a12.2(a)(i) will not be applicable to such default;; and (bii) an event or condition of the type described in clause (g) of Section 11.1(i12.1(h) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if (1A) Xxxxxx Bank shall have first given written notice thereof to Borrowing AgentBorrower, and (2B) either (Ax) Borrowers Borrower shall fail, within twenty fifteen (2015) days after the delivery of such notice from XxxxxxBank, to deliver a business plan to Xxxxxx Bank which, to the Required Lenders' Bank’s sole satisfaction, shall provide a reasonably an acceptable means to cure such default or (By) Borrowers fail Borrower fails to cure such default to Required Lenders' Bank’s sole satisfaction within twenty fifteen (2015) days after Xxxxxx Bank gives Borrowing Agent Borrower written approval of such business plan. Nothing in this clause (b) of Section 11.2(i12.2(a)(ii), however, obligates Required Lenders Bank under any circumstances to (w) support any business plan proposed by BorrowersBorrower, (x) consider any more than the original business plan proposed by BorrowersBorrower, or (y) consider any business plan proposed by Borrowers Borrower if any other Default or Event of Default has occurred or then exists; and (c) an event or condition of the type described in clause (a)(1) of Section 11.1(i) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if the applicable Borrower or Borrowers fail(s) to cure the default within five (5) Business Days. (iib) Section 11.2(i12.2(a) will not be applicable with regard to (ai) any Event of Default which by its nature is not susceptible of cure (including, without limitation, any violation of the Financial Covenants), (bii) an Event of Default if, within the 12 calendar months immediately preceding the occurrence of such default, any Borrower has previously breached the same provision of this Agreement twiceAgreement, or (ciii) any Event of Default, as a result of which, the Required Lenders reasonably believeBank believes, in good faith, that there exists an immediate and material risk, threat, or danger to the value of the Loan Collateral or the Lenders' Collateral, Bank’s interests in the Loan Collateral, or the collectibility of the Obligations. (iii) Notwithstanding any period of cure as provided in Section 11.2(i), all of the Lenders' rights and remedies under the Loan Documents during the continuance of an Event of Default (subject to Sections 11.2(i) and 11.2(ii)), (including, without limitation, the right to assess the Default Rate), will, at the Required Lenders' option, be applicable until any such Event of Default is cured to the written satisfaction of the Lenders in accordance with Section 14.1.

Cure Periods. Notwithstanding anything contained in Section 9.1 to the contrary, (i) Subject to Section 11.2(ii), (a) an event or condition of the type described in clause (c) of Section 11.1(i) (exclusive of a default arising solely by virtue of noncompliance with Sections 8.2, 8.3, 8.4, 8.5, 8.7, 8.9, or 8.11, insofar as insurance coverage is no longer in effect, Sections 10.14 or 10.15, or Section 10.28) will be considered an Event of Default for purposes shall exist hereunder upon the occurrence of any failure described in Section 12.1 of this Agreement only if 9.1(a) or Section 9.1(b) in the applicable event that the Borrower or Borrowers fail(s) to cure the cures such default within forty ten (4010) days after the earlier following receipt of (1) the date on which the applicable Borrower(s) has knowledge of the existence of such event or condition or (2) the date on which Xxxxxx notifies such Borrower(s) of the existence of such event or condition; however, if a period of cure is provided for in any of the other Loan Documents with respect to a default under such other Loan Documents, the period of cure set forth in this Section 11.2(i)(a) will not be applicable to such default; (b) an event or condition of the type described in clause (g) of Section 11.1(i) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if (1) Xxxxxx shall have first given written notice thereof to Borrowing Agent, and (2) either (A) Borrowers shall fail, within twenty (20) days after the delivery of such notice from Xxxxxx, to deliver a business plan to Xxxxxx which, to the Required Lenders' sole satisfaction, shall provide a reasonably acceptable means to cure such default or (B) Borrowers fail to cure such default to Required Lenders' sole satisfaction within twenty (20) days after Xxxxxx gives Borrowing Agent written approval of such business plan. Nothing in this clause (b) of Section 11.2(i), however, obligates Required Lenders under any circumstances to (w) support any business plan proposed by Borrowers, (x) consider any more than the original business plan proposed by Borrowers, or (y) consider any business plan proposed by Borrowers if any other Event of Default has occurred or then exists; and (c) an event or condition of the type described in clause (a)(1) of Section 11.1(i) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if the applicable Borrower or Borrowers fail(s) to cure the default within five (5) Business Days. (ii) Section 11.2(i) will not be applicable with regard to (a) any Event of Default which by its nature is not susceptible of cure (including, without limitation, any violation of the Financial Covenants), (b) an Event of Default if, within the 12 calendar months immediately preceding the occurrence of such default, provided, however, that Borrower shall not be entitled to receive more than two (2) notices in the aggregate pursuant to this clause (i) in any period of 365 days ending on the date of any such occurrence of default, and provided further that no such cure period shall apply to any payments due upon the maturity or prepayment of the Notes, (ii) no Event of Default shall exist hereunder upon the occurrence of any failure described in Section 9.1(c) in the event that the Borrower has previously breached cures such default with thirty (30) days following receipt of written notice of such default, and (iii) no Event of Default shall consist hereunder upon the same provision occurrence of this Agreement twiceany failure described in Section 9.1(m) resulting from a failure of a Guarantor to perform its obligations under Paragraph 9(d) of the Guaranty in the event that the relevant Guarantor cures such default within thirty (30) days following receipt of written notice of such Default. Notwithstanding anything in Section 9.1 to the contrary, the occurrence of any Default or (c) any Event of Default solely as a result of the occurrence of an event described in Section 9.1 with respect to one or more Subsidiaries of Borrower shall not constitute a Default or Event of Default, as a result of whichapplicable, unless the Required Lenders reasonably believe, Borrower's aggregate Investment in good faith, that there exists an immediate and material risk, threat, or danger to the value of the Loan Collateral or the Lenders' interests in the Loan Collateral, or the collectibility of the Obligations. (iii) Notwithstanding any period of cure as provided in Section 11.2(i), all of the Lenders' rights and remedies under the Loan Documents during the continuance of an Event of Default (subject to Sections 11.2(i) and 11.2(ii))such Subsidiaries, (includingas determined by Agent in its good faith judgment, without limitation, the right to assess the Default Rate), will, at the Required Lenders' option, be applicable until any such Event of Default is cured to the written satisfaction of the Lenders in accordance with Section 14.1equals or exceeds $5,000,000.00.

Cure Periods. (i) Subject to Section 11.2(ii), (a) an event or condition of the type described in clause (c) of Section 11.1(i) (exclusive of a default arising solely by virtue of noncompliance with under Sections 8.2, 8.3, 8.4, 8.510.14, 8.7, 8.9, or 8.11, insofar as insurance coverage is no longer in effect, Sections 10.14 or 10.15, or Section 10.2810.28 for which no cure period will be allowed) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if the applicable Borrower or Borrowers fail(s) Credit Party fails to cure the default within forty (40) 15 days after the earlier of (1) the date on which the applicable Borrower(s) such Credit Party has knowledge of the existence of such event or condition or (2) the date on which Xxxxxx Agent notifies such Borrower(s) Borrower of the existence of such event or condition; provided, if such Event of Default is susceptible of cure and the applicable Credit Party is diligently pursuing such cure, an Event of Default shall not exist hereunder if such Event of Default is cured within 30 days of such notice; provided further, however, if a period of cure is provided for in any of the other Loan Documents with respect to a default under such other Loan Documents, the period of cure set forth in this Section 11.2(i)(a) will not be applicable to such default;; and (b) an event or condition of the type described in clause (g) of Section 11.1(i) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if (1) Xxxxxx Agent shall have first given written notice thereof to Borrowing AgentBorrower, and (2) either (A) Borrowers Borrower shall fail, within twenty (20) 15 days after the delivery of such notice from XxxxxxAgent, to deliver a business plan to Xxxxxx Agent which, to the Required Lenders' ’ sole satisfaction, shall provide a reasonably an acceptable means to cure such default or (B) Borrowers fail Parent Guarantor and Borrower fails to cure such default to Required Lenders' ’ sole satisfaction within twenty (20) 15 days after Xxxxxx Agent gives Borrowing Agent Borrower written approval of such business plan. Nothing in this clause (b) of Section 11.2(i), however, obligates Required Lenders under any circumstances to (w) support any business plan proposed by BorrowersBorrower, (x) consider any more than the original business plan proposed by BorrowersBorrower, or (y) consider any business plan proposed by Borrowers Borrower if any other Event of Default has occurred or then exists; and (c) an event or condition of the type described in clause (a)(1) of Section 11.1(i) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if the applicable Borrower or Borrowers fail(s) to cure the default within five (5) Business Days. (iii) Section 11.2(i) will not be applicable with regard to (a1) any Event of Default default which by its nature is not susceptible of cure (including, without limitation, any violation of the Financial Covenants), (b) an Event of Default if, within the 12 calendar months immediately preceding the occurrence of such default, any Borrower has previously breached the same provision of this Agreement twicecure, or (c2) any Event of Defaultdefault, as a result of which, the Required Lenders reasonably believe, in the exercise of their judgment in good faith, that there exists an immediate and material risk, threat, or danger to Agent, LC Issuer’s or the value of Lenders’ interests in a material portion the Loan Collateral or the Lenders' interests in the Loan Collateral, or the collectibility of the Obligations. (iii) Notwithstanding any period of cure as provided in Section 11.2(i), all of the Lenders' rights and remedies under the Loan Documents during the continuance of an Event of Default (subject to Sections 11.2(i) and 11.2(ii)), (including, without limitation, the right to assess the Default Rate), will, at the Required Lenders' option, be applicable until any such Event of Default is cured to the written satisfaction of the Lenders in accordance with Section 14.1.

Cure Periods. (i) Subject to Section 11.2(ii), (a) an event or condition of the type described in clause (c) of Section 11.1(i) (exclusive of a default arising solely by virtue of noncompliance with Sections 8.2, 8.3, 8.4, 8.5, 8.7, 8.9, or 8.11, insofar as insurance coverage is no longer in effect, Sections 10.14 or 10.15, or Section 10.28) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if the applicable Borrower or Borrowers fail(s) to cure the default within forty thirty (4030) days after the earlier of (1) the date on which the applicable Borrower(s) has knowledge of the existence of such event or condition or (2) the date on which Xxxxxx Agent notifies such Borrower(s) of the existence of such event or condition; however, if a period of cure is provided for in any of the other Loan Documents with respect to a default under such other Loan Documents, the period of cure set forth in this Section 11.2(i)(a) will not be applicable to such default; (b) an event or condition of the type described in clause (g) of Section 11.1(i) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if (1) Xxxxxx Agent shall have first given written notice thereof to Borrowing Agent, and (2) either (A) Borrowers shall fail, within twenty fifteen (2015) days after the delivery of such notice from XxxxxxAgent, to deliver a business plan to Xxxxxx Agent which, to the Required Lenders' sole satisfaction, shall provide a reasonably acceptable means to cure such default or (B) Borrowers fail to cure such default to Required Lenders' sole satisfaction within twenty fifteen (2015) days after Xxxxxx Agent gives Borrowing Agent written approval of such business plan. Nothing in this clause (b) of Section 11.2(i), however, obligates Required Lenders under any circumstances to (w) support any business plan proposed by Borrowers, (x) consider any more than the original business plan proposed by Borrowers, or (y) consider any business plan proposed by Borrowers if any other Event of Default has occurred or then exists; and (c) an event or condition of the type described in clause (a)(1) of Section 11.1(i) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if the applicable Borrower or Borrowers fail(s) to cure the default within five three (53) Business Days. (ii) Section 11.2(i) will not be applicable with regard to (a) any Event of Default which by its nature is not susceptible of cure (including, without limitation, any violation of the Financial Covenants), (b) an Event of Default if, within the 12 calendar months immediately preceding the occurrence of such default, any Borrower has previously breached the same provision of this Agreement twice, or (c) any Event of Default, as a result of which, the Required Lenders reasonably believe, in good faith, that there exists an immediate and material risk, threat, or danger to the value of the Loan Collateral Collateral, Agent, LC Issuer's or the Lenders' interests in the Loan Collateral, or the collectibility of the Obligations. (iii) Notwithstanding any period of cure as provided in Section 11.2(i), all of the Agent's, LC Issuer's and Lenders' rights and remedies under the Loan Documents during the continuance of an Event of Default (subject to Sections 11.2(i) and 11.2(ii)), (including, without limitation, the right to assess the Default Rate), will, at the Required Lenders' option, be applicable until any such Event of Default is cured to the written satisfaction of the Lenders in accordance with Section 14.1.

Cure Periods. (i) Subject Borrower shall not be entitled to Section 11.2(ii), (a) an event or condition of the type described in clause (c) of Section 11.1(i) (exclusive of a default arising solely by virtue of noncompliance with Sections 8.2, 8.3, 8.4, 8.5, 8.7, 8.9, or 8.11, insofar as insurance coverage is no longer in effect, Sections 10.14 or 10.15, or Section 10.28) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if the applicable Borrower or Borrowers fail(s) to cure the default within forty (40) days after the earlier of (1) the date on which the applicable Borrower(s) has knowledge of the existence of such event or condition or (2) the date on which Xxxxxx notifies such Borrower(s) of the existence of such event or condition; however, if a period of cure is provided for in any of the other Loan Documents with respect to a default under such other Loan Documents, the period Events of cure set forth in this Section 11.2(i)(a) will not be applicable to such default; (b) an event or condition of the type Default described in clause subsections 9. 1 (ga)(iii) of Section 11.1(i) will be considered an Event of Default for purposes of Section 12.1 of this Agreement only if through (1) Xxxxxx shall have first given written notice thereof to Borrowing Agentxvi), inclusive, and (2xix) either through (A) Borrowers shall fail, within twenty (20) days after the delivery of such notice from Xxxxxx, to deliver a business plan to Xxxxxx which, to the Required Lenders' sole satisfaction, shall provide a reasonably acceptable means to cure such default or (B) Borrowers fail to cure such default to Required Lenders' sole satisfaction within twenty (20) days after Xxxxxx gives Borrowing Agent written approval of such business plan. Nothing in this clause (b) of Section 11.2(ixx), howeverinclusive, obligates Required Lenders under any circumstances to (w) support any business plan proposed by Borrowers, (x) consider any more than the original business plan proposed by Borrowers, or (y) consider any business plan proposed by Borrowers if any other Event of Default has occurred or then exists; andabove. (cii) an event or condition of the type The default described in clause (a)(1subsection 9.l(a)(i) of Section 11.1(i) will above is curable and shall be considered an Event of Default for purposes of Section 12.1 of this Agreement only deemed cured if the applicable Borrower or Borrowers fail(s) to cure the default makes such payment within five (5) Business Days. (ii) Section 11.2(i) will not be applicable with regard to (a) any Event of Default which by its nature days after the date such payment is not susceptible of cure (including, without limitation, any violation of the Financial Covenants), (b) an Event of Default if, within the 12 calendar months immediately preceding the occurrence of such default, any Borrower has previously breached the same provision of this Agreement twice, or (c) any Event of Default, as a result of which, the Required Lenders reasonably believe, in good faith, that there exists an immediate and material risk, threat, or danger to the value of the Loan Collateral or the Lenders' interests in the Loan Collateral, or the collectibility of the Obligationsdue. (iii) Notwithstanding any The default described in subsection 9.l(a)(ii), above, is curable and shall be deemed cured if Borrower makes such payment within ten (10) days after the date such payment is due, or within such other grace period applicable to such payment as specified elsewhere in this Agreement. (iv) The default described in subsection 9.l(a)(xvii), above, is curable and shall be deemed cured if Borrower delivers replacement policies of insurance to Lender within five (5) days of demand by Lender. (v) The default described in subsections 9.l(a)(xviii) and (xxi), above, is curable and shall be deemed cured, if: (A) within three (3) Business Days of Borrower's receipt of a notice of default from Lender, Borrower gives Lender notice of its intent to cure such default; and (B) Borrower cures such default within thirty (30) days, or such other period as may be specified in this Agreement, after such notice from Lender, unless such default cannot with due diligence be cured within a period of cure thirty (30) days, or such other period as provided may be specified in Section 11.2(i)this Agreement, all because of the Lenders' rights nature of the default or delays beyond the control of Borrower, and remedies under cure after such period will not have a material and adverse effect upon the Loan Documents during the continuance Facilities, in which case such default shall not be deemed to continue if cure of an Event of Default (subject to Sections 11.2(i) such default is promptly commenced and 11.2(ii)), (including, without limitation, the right to assess the Default Rate), will, at the Required Lenders' option, be applicable until any such Event of Default is cured diligently pursued to the written satisfaction of completion thereof, provided, however, no such default shall continue for more than one hundred twenty (120) days in the Lenders in accordance with Section 14.1aggregate.