Cure Procedures. (a) City shall notify Company, in writing, of any breach under this Agreement, in accordance with Section 13.5 hereof. The notice shall specify the alleged breach(es) with reasonable particularity. Company shall either (i) within the number of days set forth in the applicable paragraph of Section
11.2.1 hereof, or such longer period of time as City may specify in such notice, cure such alleged breach(es); or (ii) in a written response submitted to City within fifteen (15) days after the notice of breach, present facts and arguments in refutation or excuse of such alleged failure. The submission of such a response shall toll the running of the applicable cure period as provided in Section 11.2.1 hereof. Notwithstanding the preceding, no Event of Default shall exist if a breach is curable but work to be performed, acts to be done, or conditions to be removed which cannot, by their nature, reasonably be performed, done or removed within the cure period provided, so long as Company shall have commenced curing the same within the cure period provided and shall diligently and continuously prosecute the same promptly to completion.
(b) If Company fails to cure the breach within the applicable cure period, and fails to submit a response to City pursuant to subparagraph (a) hereof within the period provided herein for submitting such response, an Event of Default will be deemed to have occurred.
(c) If, after Company makes a response to City, City determines, in his or her reasonable discretion, that a breach under this Agreement has occurred, Company shall cure such breach within the balance of the time period to cure that remained when the submission was made. If Company is not able to cure within the remaining time, the breach will be deemed to be an Event of Default, provided, however, that no Event of Default shall exist if a breach is curable but work to be performed, acts to be done, or conditions to be removed which cannot, by their nature, reasonably be performed, done or removed within the cure period remaining, so long as Company shall have commenced curing the same within the cure period provided and shall diligently and continuously prosecute the same promptly to completion.
Cure Procedures. If a claim has been rejected due to due diligence deficiencies, the guaranty will be reinstated if: - the Servicer collects from the Borrower sufficient payments to reduce the Borrower's delinquency, according to the Borrower's existing payment schedule, to less than 30 days; or - the Servicer brings the Borrower back into repayment by capitalizing all accrued interest, applying administrative forbearance to eliminate any delinquency in principal and interest payments, redisclosing the loan with a new payment schedule, and collecting from the Borrower three consecutive, on-time payments according to such new schedule. For this second type of cure, at the time the Servicer files its request for reinstatement the loan must be within 30 days of being current. For these purposes, a payment is considered "on time" if received no later than seven days after the agreed upon due date. In addition, the payment amounts actually received from the Borrower must be within a tolerance of no more than $5.00 of the established monthly payment. Nothing in these Guidelines requires a Servicer to submit a guaranty claim that it knows will be rejected for due diligence deficiencies; the Servicer may retain the account and attempt to restore the loan to current status. If a claim is rejected and it is later determined that a processing error (e.g., application of forbearance to the wrong account number) made prior to the claim filing date caused an incorrect delinquency and if corrected the loan would be brought to less than 30 days delinquent, the loan can be recalled and the rejected claim status removed. If a due diligence failure is cured by the second method stated above, including capitalization of the accrued interest portion of some or all delinquent payments, and if such loan subsequently defaults, XXXX will not pay such capitalized interest. A loan may be cured only once. A loan may be cured for any servicing errors but not for an error in the underwriting or origination of the loan. After the loan is cured, the Borrower will still qualify for any remaining hardship forbearance that he or she may still be eligible to use. GUIDELINE AMENDMENT PROCEDURES Any amendments, changes or revisions to these guidelines must be agreed to by XXXX, the Originator, the Lender and the Servicer in writing prior to implementation, provided however that the Servicer's consent will not be required for any amendment of the amount of any Borrower Guaranty Fee or Lender Supplemental Guaran...
Cure Procedures. 6.3.1 If Reliance claims a breach of any warranty , its shall notify the Vendor of the breach within a reasonable period of time after its determination that the breach has occurred. For provision of repair, replacement and correction of Defective Services, Reliance shall allow the Vendor to inspect the Work on-site and to perform any repairs, replacements and corrections that can be performed on Site without disrupting the operation of the Broadband Access Reliance Network or any other the Network Element relating to such Services.
6.3.2 In the event that the remedy of any breach by the Vendor of the Services Warranty requires the installation or provision of replacement equipment, software and/or services, the Vendor shall provide such equipment, software and/or services, at no cost or expense to Reliance.
6.3.3 During the Services Warranty Period, the Vendor shall be solely responsible for all costs and expenses associated with: (a) cure, repair, replacement or correction of the Services subject to the warranty claim; (b) dismantling and reinstalling equipment and property in connection with cure or correction of the Services that are the subject of such warranty claim; and (c) all on-site and off-site repair and related activities for Services.
Cure Procedures. A non-performing party shall have the opportunity to cure the failure to perform prior to a termination for cause. Therefore, prior to the issuance of a written notice of termination for cause, each party agrees to proceed in the following manner, working in good faith to address the circumstances which led to the alleged failure to perform:
(a) The party seeking to address an area of concern shall give written notice to the non- performing party describing in reasonable detail its concerns.
(b) The non-performing party shall be given thirty
Cure Procedures
