Common use of Cure Rights Clause in Contracts

Cure Rights. During the continuance in effect of any Authorized Mortgage of this Lease, Lessor will not terminate this Lease because of any monetary default on the part of Lessee if the Authorized Mortgagee or its assigns shall cure the default, within the later of: (a) sixty (60) days after Lessor has mailed to the Authorized Mortgagee or its assigns at the last known address thereof a written notice of intention to terminate the interest of Lessee under this Lease for such cause, or (b) sixty (60) days after the expiration of the time period granted to Lessee under this Lease for curing such default. Further, as to any non-monetary default, the Authorized Mortgagee shall have one hundred eighty (180) days after receipt of such written notice from Lessor, and a reasonable time after the expiration of said one hundred eighty (180) days if it shall have commenced foreclosure or other appropriate proceeding in the nature thereof within said one hundred eighty (180) day period and is diligently prosecuting the same, within which to endeavor to cure such default. In case of such undertaking, Lessor will not so terminate if the Authorized Mortgagee has commenced foreclosure proceedings or within such further time as may be required by the Authorized Mortgagee to complete foreclosure of such Authorized Mortgage or other remedy thereunder provided (i) that such remedy is pursued promptly and completed with due diligence, and (ii) that the Authorized Mortgagee has paid all Rent and other charges accruing hereunder as the same become due and has performed all the covenants of this Lease until such time as this Lease shall be sold upon foreclosure of the Authorized Mortgage. Any default consisting of Xxxxxx’s failure promptly to discharge any lien, charge or encumbrance against the Premises junior in priority to the Authorized Mortgage shall be deemed to be duly cured if such Authorized Mortgage shall be foreclosed by appropriate action instituted within said sixty (60) day period and thereafter prosecuted in diligent and timely manner. Ownership of Lessor’s interest and Xxxxxx’s interest by or for the same person shall not affect the merger thereof without the prior written consent of any Authorized Mortgagee to such merger.

Cure Rights. During (a) If the continuance in effect Issuer, as holder of any Authorized Mortgage a Loan, has the right pursuant to the related Underlying Instruments to cure an event of this Lease, Lessor will not terminate this Lease because of any monetary default on the part of Lessee if Underlying Term Loan, the Authorized Mortgagee or its assigns shall cure Collateral Manager may, in accordance with the default, within the later of: (a) sixty (60) days after Lessor has mailed Collateral Manager Servicing Standard and subject to the Authorized Mortgagee or its assigns at the last known address thereof a written notice of intention to terminate the interest of Lessee under this Lease for such cause, or (b) sixty (60) days after the expiration applicable provisions of the time period granted Servicing Agreement, advance from its own funds with respect to Lessee under this Lease for curing the Loan as a reimbursable Cure Advance, all such default. Further, amounts as are necessary to any non-monetary default, effect the Authorized Mortgagee shall have one hundred eighty (180) days after receipt timely cure of such written notice from Lessor, and a reasonable time after event of default pursuant to the expiration terms of said one hundred eighty (180) days if it shall have commenced foreclosure or other appropriate proceeding in the nature thereof within said one hundred eighty (180) day period and is diligently prosecuting the same, within which to endeavor to cure such default. In case of such undertaking, Lessor will not so terminate if the Authorized Mortgagee has commenced foreclosure proceedings or within such further time as may be required by the Authorized Mortgagee to complete foreclosure of such Authorized Mortgage or other remedy thereunder related Underlying Instruments; provided that (i) such advances may only be made to the extent that the Collateral Manager reasonably believes that such remedy is pursued promptly Cash advance can be repaid from future payments on the related underlying commercial mortgage loan (subject to the Collateral Manager Servicing Standard and completed with due diligence, to the applicable provisions of the Servicing Agreement) and (ii) the particular advance would not, if made, constitute a Nonrecoverable Cure Advance. The determination by the Collateral Manager that it has made a Nonrecoverable Cure Advance or that any proposed Cure Advance, if made, would constitute a Nonrecoverable Cure Advance shall be made by the Collateral Manager in its reasonable, good faith judgment (subject to the Collateral Manager Servicing Standard and to the applicable provisions of the Servicing Agreement) and shall be evidenced by an Officer's Certificate delivered promptly to the Trustee, setting forth the basis for such determination, accompanied by an appraisal, if available, or an independent broker's opinion of the value of the Underlying Mortgage Property and any information that the Authorized Mortgagee has paid all Rent Collateral Manager may have obtained and other charges accruing hereunder that supports such determination. The Collateral Manager will be entitled to reimbursement from any subsequent payments or recoveries on each Collateral Debt Security in respect of which it makes a Cure Advance in accordance with the Priority of Payments if such reimbursement would not cause an Interest Shortfall; provided that, if at any time the Collateral Manager shall determine (subject to the applicable provisions of the Servicing Agreement) that a Cure Advance previously made is a Nonrecoverable Cure Advance, the Collateral Manager shall be entitled to reimbursements for such Nonrecoverable Cure Advance from subsequent payments or collections with respect to the Assets on any Business Day during any Interest Accrual Period prior to the related Determination Date (or on a Payment Date prior to any payment of interest on or principal of the Notes in accordance with the Priority of Payments). Notwithstanding the foregoing, the Collateral Manager will be permitted (but not obligated) to defer or otherwise structure the timing of recovery of any Nonrecoverable Cure Advance in such manner as the same become due and has performed all Collateral Manager determines is in the covenants of this Lease until such time as this Lease shall be sold upon foreclosure best interest of the Authorized Mortgage. Any default consisting Holders of Xxxxxx’s failure promptly to discharge any lienthe Class A Notes and the Class B Notes, charge or encumbrance against the Premises junior as a collective whole, which may include being reimbursed for such Nonrecoverable Cure Advance in priority to the Authorized Mortgage shall be deemed to be duly cured if such Authorized Mortgage shall be foreclosed by appropriate action instituted within said sixty (60) day period and thereafter prosecuted in diligent and timely manner. Ownership of Lessor’s interest and Xxxxxx’s interest by or for the same person shall not affect the merger thereof without the prior written consent of any Authorized Mortgagee to such mergerinstallments.

Cure Rights. During In the continuance in effect event of any Authorized Mortgage of this Leaseevent which would constitute a Release Waiver Event under Section 9.3, Lessor will not terminate this Lease because then, prior to the declaration of any monetary default on Release Waiver Event by Agent or Lenders, Agent or Lenders shall provide written notice (the part of Lessee if the Authorized Mortgagee or its assigns "Release Waiver Notice") to Borrowers and Guarantor, which written notice shall cure the defaultspecifically identify such event, within the later of: and Borrowers and Guarantor shall have ten (10) business days to (a) sixty (60) days after Lessor has mailed to the Authorized Mortgagee or its assigns at the last known address thereof a written notice of intention to terminate the interest of Lessee under this Lease for cure such cause, event or (b) sixty if the event is such that it is incapable of being cured by Borrowers or Guarantor, then Borrowers and Guarantor shall have the right to pay to Agent and Lenders, in cash, an amount (60the "Cure Payment Amount") days equal to the reasonably estimated amount of the diminution of economic value suffered by the Properties due to such event, such amounts to be determined by mutual agreement of the Parties within the ten (10) business day period following the delivery of the Release Waiver Notice. If the parties cannot agree on the Cure Payment Amount within the ten (10) business day period following the delivery of the Release Waiver Notice, the Cure Payment Amount shall be established by arbitration before a single neutral arbitrator in Houston, Texas in accordance with the Commercial Arbitration Rules of the American Arbitration Association (the "Arbitration"). If the Parties are unable to agree upon the Cure Payment Amount, either party may initiate an Arbitration after the expiration of the time ten (10) business day period granted to Lessee under this Lease for curing such defaultspecified above. Further, as to any non-monetary defaultFollowing the initiation of the Arbitration, the Authorized Mortgagee Parties shall have one hundred eighty agree upon an arbitrator, who may be independent from the American Arbitration Association; if the Parties are unable to agree upon an arbitrator within ten (18010) days following the initiation of the Arbitration, either party may submit the matter to the American Arbitration Association, and the Arbitration shall thereafter be conducted by the American Arbitration Association. The Cure Payment Amount shall be paid by Borrowers and Guarantor to Agent in cash on the date thirty (30) days after receipt the Parties have agreed upon the amount of the Cure Payment Amount or, in the absence of such written notice from Lessoragreement, and a reasonable time thirty (30) days after the expiration amount of said one hundred eighty the Cure Payment Amount has been determined in the Arbitration. In the event that the Arbitration is initiated, the Parties shall direct the arbitrator to make its award within thirty (18030) days if it shall have commenced foreclosure or other appropriate proceeding in after submission of the nature thereof within said one hundred eighty (180) day period and is diligently prosecuting the sameissue to Arbitration, within which to endeavor to cure such default. In case of such undertaking, Lessor will not so terminate if the Authorized Mortgagee has commenced foreclosure proceedings or within such further time as may be required by the Authorized Mortgagee to complete foreclosure of such Authorized Mortgage or other remedy thereunder provided (i) that such remedy is pursued promptly and completed with due diligence, and (ii) that the Authorized Mortgagee has paid all Rent and other charges accruing hereunder as the same become due and has performed all the covenants of this Lease until such time as this Lease determination shall be sold final, non-appealable and binding upon foreclosure the Parties. Failure of the Authorized Mortgage. Any default consisting of Xxxxxx’s failure promptly arbitrator to discharge any lien, charge or encumbrance against the Premises junior make its award in priority to the Authorized Mortgage shall be deemed to be duly cured if such Authorized Mortgage shall be foreclosed by appropriate action instituted within said sixty (60) day period and thereafter prosecuted in diligent and a timely manner. Ownership of Lessor’s interest and Xxxxxx’s interest by or for the same person manner shall not affect divest the merger thereof without arbitrator of the prior written consent power to make an award. Borrowers and Guarantor shall pay all costs of any Authorized Mortgagee to such mergerthe Arbitration, including Agent's reasonable attorneys' fees, unless the arbitrator determines that Agent's estimate of the Cure Payment Amount was made in bad faith, in which case Agent and Lenders shall pay all costs of the Arbitration.

Cure Rights. During Notwithstanding the continuance provisions of Section 9.3 hereof, no Event of Default shall be deemed to exist as long as a Leasehold Mortgagee, in effect good faith, (i) shall have commenced or caused to be commenced promptly to cure the Event of any Authorized Mortgage Default and prosecutes or causes to be prosecuted the same to completion with reasonable diligence and continuity, subject to Unavoidable Delays, which for the purposes of this Lease, Lessor will not terminate this Lease because Section 9.3.1 shall include causes beyond the control of any monetary default on such Leasehold Mortgagee instead of causes beyond the part control of Lessee if the Authorized Mortgagee or its assigns shall cure the default, within the later of: (a) sixty (60) days after Lessor has mailed to the Authorized Mortgagee or its assigns at the last known address thereof a written notice of intention to terminate the interest of Lessee under this Lease for such causeTenant, or (bii) sixty if possession of the Land or any part thereof is required in order to cure the Event of Default, shall have notified Landlord of its intention to institute foreclosure proceedings to obtain possession directly or. through a receiver, and thereafter within fourteen (6014) days after the giving of such Notice (but in no event earlier then the expiration of the time relevant cure period granted referred to Lessee under this Lease for curing in Section 9.2(b)) commences such default. Furtherforeclosure proceedings, as prosecutes such proceedings with reasonable diligence and continuity (subject to any non-monetary defaultUnavoidable Delays) and, upon obtaining such possession, commences promptly to Cure the Authorized Event of Default and prosecutes the same to completion with reasonable diligence and continuity (subject to Unavoidable Delays); provided that the Leasehold Mortgagee shall have one hundred eighty delivered to Landlord, in writing, its Notice of intent to take the action described in clause (180i) days after receipt of such written notice from Lessoror (ii) herein. However, and a reasonable at any time after the expiration delivery of said one hundred eighty (180) days the aforementioned Notice, the Leasehold Mortgagee may notify Landlord, in writing, that it has relinquished possession of the Land or that it will not institute foreclosure proceedings or, if such proceedings have been commenced, that it has discontinued them, and in such event, the Leasehold Mortgagee shall have commenced foreclosure or no further liability under such agreement from and after the date it delivers such Notice to Landlord, and thereupon Landlord shall have the unrestricted right to terminate this Lease and to take any other action it deems appropriate proceeding by reason of any Event of Default by Tenant, and upon any such termination, the provisions of Section 9.4 shall apply. Anything contained in this Section 9.3.1 to the contrary notwithstanding, the provisions of this Section 9.3.1. shall not apply in the nature thereof within said one hundred eighty (180) day case of a Leasehold Mortgagee which is not an Institutional Lender unless such Leasehold Mortgagee shall provide Landlord with security for the performance of the assumed obligation in amount and form reasonably satisfactory to Landlord, during the period and that such Leasehold Mortgagee is diligently prosecuting taking the same, within which to endeavor required action to cure such default. In case the Event of such undertaking, Lessor will not so terminate if the Authorized Mortgagee has commenced foreclosure proceedings or within such further time as may be required by the Authorized Mortgagee to complete foreclosure of such Authorized Mortgage or other remedy thereunder provided (i) that such remedy is pursued promptly and completed with due diligence, and (ii) that the Authorized Mortgagee has paid all Rent and other charges accruing hereunder as the same become due and has performed all the covenants of this Lease until such time as this Lease shall be sold upon foreclosure of the Authorized Mortgage. Any default consisting of Xxxxxx’s failure promptly to discharge any lien, charge or encumbrance against the Premises junior in priority to the Authorized Mortgage shall be deemed to be duly cured if such Authorized Mortgage shall be foreclosed by appropriate action instituted within said sixty (60) day period and thereafter prosecuted in diligent and timely manner. Ownership of Lessor’s interest and Xxxxxx’s interest by or for the same person shall not affect the merger thereof without the prior written consent of any Authorized Mortgagee to such mergerDefault.

Cure Rights. During (a) If the continuance in effect Issuer, as holder of any Authorized Mortgage a Loan, has the right pursuant to the related Underlying Instruments to cure an event of this Lease, Lessor will not terminate this Lease because of any monetary default on the part of Lessee if Underlying Term Loan, the Authorized Mortgagee or Collateral Manager may, in accordance with the Collateral Manager Servicing Standard advance from its assigns shall cure the default, within the later of: (a) sixty (60) days after Lessor has mailed own funds with respect to the Authorized Mortgagee or its assigns at Loan as a reimbursable Cure Advance, all such amounts as are necessary to effect the last known address thereof a written notice timely cure of intention such event of default pursuant to terminate the interest of Lessee under this Lease for such cause, or (b) sixty (60) days after the expiration terms of the time period granted to Lessee under this Lease for curing such default. Further, as to any non-monetary default, the Authorized Mortgagee shall have one hundred eighty (180) days after receipt of such written notice from Lessor, and a reasonable time after the expiration of said one hundred eighty (180) days if it shall have commenced foreclosure or other appropriate proceeding in the nature thereof within said one hundred eighty (180) day period and is diligently prosecuting the same, within which to endeavor to cure such default. In case of such undertaking, Lessor will not so terminate if the Authorized Mortgagee has commenced foreclosure proceedings or within such further time as may be required by the Authorized Mortgagee to complete foreclosure of such Authorized Mortgage or other remedy thereunder related Underlying Instruments; provided that (i) such advances may only be made (A) to the extent that the Collateral Manager reasonably believes that such remedy is pursued promptly cash advances can be repaid from future payments on the related underlying commercial mortgage loan and completed in accordance with due diligencethe Collateral Manager’s Servicing Standard and (B) if the Collateral Manager receives written instruction from holders of at least a Majority of the aggregate outstanding Notional Amount of the Preferred Shares with respect thereto, and (ii) the particular advance would not, if made, constitute a Nonrecoverable Cure Advance. The determination by the Collateral Manager that it has made a Nonrecoverable Cure Advance or that any proposed Cure Advance, if made, would constitute a Nonrecoverable Cure Advance shall be made by the Collateral Manager in its reasonable good faith judgment in accordance with the Collateral Manager Servicing Standard and shall be evidenced by an Officer’s Certificate delivered promptly to the Trustee, setting forth the basis for such determination, accompanied by an appraisal, if available, or an Independent broker’s opinion of the value of the Underlying Mortgaged Property and any information that the Authorized Mortgagee has paid all Rent Collateral Manager may have obtained and other charges accruing hereunder that supports such determination. The Collateral Manager will be entitled to reimbursement from any subsequent payments or recoveries on each Collateral Debt Security in respect of which it makes a Cure Advance in accordance with the Priority of Payments if such reimbursement would not cause an Interest Shortfall; provided that, if at any time the Collateral Manager shall determine in its sole discretion, exercised in good faith and in accordance with the Collateral Manager Servicing Standard, that a Cure Advance previously made is a Nonrecoverable Cure Advance, the Collateral Manager shall be entitled to reimbursements for such Nonrecoverable Cure Advance from subsequent payments or collections with respect to the Assets on any Business Day during any Interest Accrual Period prior to the related Determination Date (or on a Payment Date prior to any payment of interest on or principal of the Notes in accordance with the Priority of Payments). Notwithstanding the foregoing, the Collateral Manager will be permitted (but not obligated) to defer or otherwise structure the timing of recovery of any Nonrecoverable Cure Advance in such manner as the same become due and has performed all Collateral Manager determines (subject to the covenants of this Lease until such time as this Lease shall be sold upon foreclosure applicable provisions of the Authorized Mortgage. Any default consisting Asset Servicing Agreement) is in the best interest of Xxxxxx’s failure promptly the Noteholders as a collective whole, which may include being reimbursed for such Nonrecoverable Cure Advance in installments; provided that the Collateral Manager will not be permitted to discharge defer recovery of any lien, charge Nonrecoverable Cure Advance (or encumbrance against the Premises junior in priority any portion thereof) on any Payment Date to the Authorized Mortgage shall be deemed extent that there are amounts available to be duly cured if distributed to the Preferred Shares Paying Agent for deposit into the Preferred Shares Distribution Account on such Authorized Mortgage shall be foreclosed by appropriate action instituted within said sixty (60) day period and thereafter prosecuted Payment Date for distribution to the holders of the Preferred Shares in diligent and timely manner. Ownership accordance with the Priority of Lessor’s interest and Xxxxxx’s interest by or for the same person shall not affect the merger thereof Payments without the prior written consent of any Authorized Mortgagee regard to such mergerdeferral. For the avoidance of doubt, the Collateral Manager may terminate any such deferment at any time.

Cure Rights. During (a) If the continuance in effect Issuer, as holder of any Authorized Mortgage a Loan, has the right pursuant to the related Underlying Instruments to cure an event of this Lease, Lessor will not terminate this Lease because of any monetary default on the part of Lessee if Underlying Term Loan, the Authorized Mortgagee or its assigns shall cure Collateral Manager may, in accordance with the default, within the later of: (a) sixty (60) days after Lessor has mailed Collateral Manager Servicing Standard and subject to the Authorized Mortgagee or Servicing Standard Override, exercise such cure right and direct that an advance be made by the Advancing Agent, solely out of its assigns at the last known address thereof a written notice of intention to terminate the interest of Lessee under this Lease own funds for such causepurpose, or (b) sixty (60) days after with respect to the expiration Loan as a reimbursable Cure Advance, all such amounts as are necessary to effect the timely cure of such event of default pursuant to the terms of the time period granted related Underlying Instruments; provided that such advances may only be made to Lessee under this Lease for curing such default. Further, as to any non-monetary default, the Authorized Mortgagee shall have one hundred eighty (180) days after receipt of such written notice from Lessor, and a reasonable time after extent that the expiration of said one hundred eighty (180) days if it shall have commenced foreclosure or other appropriate proceeding in the nature thereof within said one hundred eighty (180) day period and is diligently prosecuting the same, within which to endeavor to cure such default. In case of such undertaking, Lessor will not so terminate if the Authorized Mortgagee has commenced foreclosure proceedings or within such further time as may be required by the Authorized Mortgagee to complete foreclosure of such Authorized Mortgage or other remedy thereunder provided Collateral Manager reasonably believes that (i) that such remedy is pursued promptly cash advances can be repaid from future payments on the related underlying commercial mortgage loan and completed in accordance with due diligence, the Collateral Manager Servicing Standard (but subject to the Servicing Standard Override) and (ii) the particular advance would not, if made, constitute a Nonrecoverable Cure Advance. The determination by the Collateral Manager that it has made a Nonrecoverable Cure Advance or that any proposed Cure Advance, if made, would constitute a Nonrecoverable Cure Advance shall be made by the Collateral Manager in its reasonable, good faith judgment in accordance with the Collateral Manager Servicing Standard (but subject to the Servicing Standard Override) and shall be evidenced by an Officer’s Certificate delivered promptly to the Trustee, setting forth the basis for such determination, accompanied by an appraisal, if available, or an Independent broker’s opinion of the value of the Underlying Mortgage Property and any information that the Authorized Mortgagee has paid all Rent Collateral Manager may have obtained that supports such determination. The Advancing Agent will be entitled to reimbursement from any subsequent payments or recoveries on each Collateral Debt Security in respect of which it makes a Cure Advance in accordance with the Priority of Payments if such reimbursement would not cause an Interest Shortfall; provided that, if at any time the Collateral Manager shall determine (subject to the limitations set forth in this Indenture and other charges accruing hereunder the Collateral Management Agreement) that a Cure Advance previously made is a Nonrecoverable Cure Advance, the Advancing Agent shall be entitled to reimbursements for such Nonrecoverable Cure Advance from subsequent payments or collections with respect to the Assets on any Business Day during any Interest Accrual Period prior to the related Determination Date (or on a Payment Date prior to any payment of interest on or principal of the Notes in accordance with the Priority of Payments). Notwithstanding the foregoing, the Advancing Agent will be permitted (but not obligated) to defer or otherwise structure the timing of recovery of any Nonrecoverable Cure Advance in such manner as the same become due and has performed all Collateral Manager determines is in the covenants of this Lease until such time as this Lease shall be sold upon foreclosure best interest of the Authorized MortgageHolders of the Class A Notes and the Class B Notes, as a collective whole, which may include being reimbursed for such Nonrecoverable Cure Advance in installments. Any default consisting of Xxxxxx’s failure promptly The Trustee will not serve as Back-Up Advancing Agent with respect to discharge any lien, charge or encumbrance against the Premises junior in priority to the Authorized Mortgage shall be deemed to be duly cured if such Authorized Mortgage shall be foreclosed by appropriate action instituted within said sixty (60) day period and thereafter prosecuted in diligent and timely manner. Ownership of Lessor’s interest and Xxxxxx’s interest by or for the same person shall not affect the merger thereof without the prior written consent of any Authorized Mortgagee to such mergerCure Advances.

Cure Rights. During For a period of thirty (30) days following delivery of a Delinquency Notice, the continuance in effect Delinquent Member shall have the right to cure its failure to make a required Capital Contribution by contributing to the Company an amount equal to all, but not less than all, of the Delinquent Amount and by paying directly to the Non-Delinquent Member the full amount of any Authorized Mortgage accrued and unpaid interest on any Member Loans made by the Non-Delinquent Member. Amounts contributed by the Delinquent Member to the Company pursuant to this Section 2.4(d) shall be distributed to the Non-Delinquent Member to the extent that the Non-Delinquent Member has made a Member Loan with respect to such Delinquent Amount. If such contributed amounts are used to repay a Member Loan, then the portion of the Member Loan that remains unpaid following such payment shall thereafter be treated as a Capital Contribution by the Non-Delinquent Member, with the result that the amount contributed by the Delinquent Member and the amount treated as a Capital Contribution by the Non-Delinquent Member shall stand in proportion to their respective Percentage Interests. Notwithstanding the foregoing, in no event shall amounts paid as interest by the Delinquent Member to the Non-Delinquent Member pursuant to this LeaseSection 2.4(d) be treated as Capital Contributions to the Company and in no event shall the Company or the Non-Delinquent Member have any obligation to repay such amounts to the Delinquent Member. If the Delinquent Member has not fully performed the cure permitted under this Section 2.4(d) by 5:00 p.m., Lessor will not terminate this Lease because of any monetary default local time in Florida, on the part of Lessee if the Authorized Mortgagee or its assigns shall cure the default, within the later of: thirtieth (a30th) sixty (60) days after Lessor has mailed to the Authorized Mortgagee or its assigns at the last known address thereof a written notice of intention to terminate the interest of Lessee under this Lease for such cause, or (b) sixty (60) days after the expiration day following delivery of the time period granted to Lessee under this Lease for curing such default. FurtherDelinquency Notice, as to any non-monetary default, the Authorized Mortgagee shall have one hundred eighty (180) days after receipt of such written notice from Lessor, and a reasonable time after the expiration of said one hundred eighty (180) days if it shall have commenced foreclosure or other appropriate proceeding in the nature thereof within said one hundred eighty (180) day period and is diligently prosecuting the same, within which to endeavor to cure such default. In case of such undertaking, Lessor will not so terminate if the Authorized Mortgagee has commenced foreclosure proceedings or within such further time as may be required by the Authorized Mortgagee to complete foreclosure of such Authorized Mortgage or other remedy thereunder provided then (i) that the Delinquent Member’s cure rights with respect to the Delinquent Amount identified in such remedy is pursued promptly and completed with due diligence, Delinquency Notice shall expire at such time; and (ii) that the Authorized Mortgagee has paid all Rent and other charges accruing hereunder as the same become due and has performed all the covenants of this Lease until such time as this Lease shall be sold upon foreclosure of the Authorized Mortgage. Any default consisting of XxxxxxDelinquent Member’s failure promptly to discharge any lien, charge or encumbrance against the Premises junior in priority to the Authorized Mortgage cure shall be deemed to be duly cured if such Authorized Mortgage shall be foreclosed by appropriate action instituted within said sixty (60) day period and thereafter prosecuted in diligent and timely manner. Ownership an Event of Lessor’s interest and Xxxxxx’s interest by or for the same person shall not affect the merger thereof without the prior written consent of any Authorized Mortgagee to such mergerDefault hereunder.

Cure Rights. During the continuance in effect of any Authorized Mortgage of this Lease, Lessor will not terminate this Lease because of any monetary default on the part of Lessee if the Authorized Mortgagee or its assigns shall cure the default, within the later of: (a) sixty If the Debt Leverage Covenant is not met (60or would but for this Condition 4.1.4 not be met) days in respect of any Relevant Period ("Breach Period"), but cash proceeds are received by any Group Company from any New Equity Injection received by it (the "Cure Amount") after Lessor has mailed the end of that Breach Period but on or prior to the Authorized Mortgagee or its assigns at expiry of 20 Business Days following the latest date by which the financial statements of the Issuer (for a period ending on the last known address thereof a written notice day of intention such Breach Period) are required to terminate be delivered pursuant to Condition 4.3.2 (such period from the interest end of Lessee under this Lease that Breach Period to the expiry of such 20 Business Days being the "Equity Cure Period" in respect of such Breach Period), then the Debt Leverage Covenant will be tested or, as applicable, retested by adding that Cure Amount to Consolidated Adjusted EBITDA for such causeBreach Period ("EBITDA Cure"). If, or (b) sixty (60) days after giving effect to the expiration EBITDA Cure, the requirements of the time period granted to Lessee under this Lease for curing such default. FurtherDebt Leverage Covenant in respect of that Breach Period would be met, as to any non-monetary default, then the Authorized Mortgagee shall have one hundred eighty (180) days after receipt of such written notice from Lessor, and a reasonable time after the expiration of said one hundred eighty (180) days if it shall have commenced foreclosure or other appropriate proceeding in the nature thereof within said one hundred eighty (180) day period and is diligently prosecuting the same, within which to endeavor to cure such default. In case of such undertaking, Lessor will not so terminate if the Authorized Mortgagee has commenced foreclosure proceedings or within such further time as may be required by the Authorized Mortgagee to complete foreclosure of such Authorized Mortgage or other remedy thereunder provided (i) that such remedy is pursued promptly and completed with due diligence, and (ii) that the Authorized Mortgagee has paid all Rent and other charges accruing hereunder as the same become due and has performed all the covenants of this Lease until such time as this Lease shall be sold upon foreclosure of the Authorized Mortgage. Any default consisting of Xxxxxx’s failure promptly to discharge any lien, charge or encumbrance against the Premises junior in priority to the Authorized Mortgage Debt Leverage Coverage shall be deemed to be duly cured if have been satisfied as at the original date of determination of the Debt Leverage Covenant in respect of such Authorized Mortgage Breach Period as though there had been no failure to comply and any Default or Event of Default occasioned thereby (or as a result thereof) shall be foreclosed by appropriate action instituted within said sixty (60) day period deemed to have been remedied and thereafter prosecuted in diligent and timely mannercured for all purposes under these Conditions. Ownership In relation to any Breach Period, any breach or non-compliance of Lessor’s interest and Xxxxxx’s interest by or for the same person Debt Leverage Covenant shall not affect constitute an Event of Default at any time prior to the merger thereof without expiry of the prior written consent Equity Cure Period in respect of such Breach Period. There shall be no restriction on the amount of any Authorized Mortgagee Cure Amount exceeding the minimum amount required to such mergerprevent or cure any breach of the Debt Leverage Covenant. Any EBITDA Cure may not be exercised in respect of consecutive Relevant Periods.

Cure Rights. During (a) If the continuance in effect Issuer, as holder of any Authorized Mortgage a Loan, has the right pursuant to the related Underlying Instruments to cure an event of this Lease, Lessor will not terminate this Lease because of any monetary default on the part of Lessee if Underlying Term Loan, the Authorized Mortgagee or Collateral Manager may, in accordance with the Collateral Manager Servicing Standard advance from its assigns shall cure the default, within the later of: (a) sixty (60) days after Lessor has mailed own funds with respect to the Authorized Mortgagee or its assigns at Loan as a reimbursable Cure Advance, all such amounts as are necessary to effect the last known address thereof a written notice timely cure of intention such event of default pursuant to terminate the interest of Lessee under this Lease for such cause, or (b) sixty (60) days after the expiration terms of the time period granted to Lessee under this Lease for curing such default. Further, as to any non-monetary default, the Authorized Mortgagee shall have one hundred eighty (180) days after receipt of such written notice from Lessor, and a reasonable time after the expiration of said one hundred eighty (180) days if it shall have commenced foreclosure or other appropriate proceeding in the nature thereof within said one hundred eighty (180) day period and is diligently prosecuting the same, within which to endeavor to cure such default. In case of such undertaking, Lessor will not so terminate if the Authorized Mortgagee has commenced foreclosure proceedings or within such further time as may be required by the Authorized Mortgagee to complete foreclosure of such Authorized Mortgage or other remedy thereunder related Underlying Instruments; provided that (i) such advances may only be made (A) to the extent that the Collateral Manager reasonably believes that such remedy is pursued promptly cash advances can be repaid from future payments on the related underlying commercial mortgage loan and completed in accordance with due diligencethe Collateral Manager’s Servicing Standard and (B) if the Collateral Manager receives written instruction from holders of at least a Majority of the aggregate outstanding notional amount of the Preferred Shares with respect thereto, and (ii) the particular advance would not, if made, constitute a Nonrecoverable Cure Advance. The determination by the Collateral Manager that it has made a Nonrecoverable Cure Advance or that any proposed Cure Advance, if made, would constitute a Nonrecoverable Cure Advance shall be made by the Collateral Manager in its reasonable good faith judgment in accordance with the Collateral Manager Servicing Standard and shall be evidenced by an Officer’s Certificate delivered promptly to the Trustee, setting forth the basis for such determination, accompanied by an appraisal, if available, or an independent broker’s opinion of the value of the Underlying Mortgage Property and any information that the Authorized Mortgagee has paid all Rent Collateral Manager may have obtained and other charges accruing hereunder that supports such determination. The Collateral Manager will be entitled to reimbursement from any subsequent payments or recoveries on each Collateral Debt Security in respect of which it makes a Cure Advance in accordance with the Priority of Payments if such reimbursement would not cause an Interest Shortfall; provided that, if at any time the Collateral Manager shall determine in its sole discretion, exercised in good faith and in accordance with the Collateral Manager Servicing Standard, that a Cure Advance previously made is a Nonrecoverable Cure Advance, the Collateral Manager shall be entitled to reimbursements for such Nonrecoverable Cure Advance from subsequent payments or collections with respect to the Assets on any Business Day during any Interest Accrual Period prior to the related Determination Date (or on a Payment Date prior to any payment of interest on or principal of the Notes in accordance with the Priority of Payments). Notwithstanding the foregoing, the Collateral Manager will be permitted (but not obligated) to defer or otherwise structure the timing of recovery of any Nonrecoverable Cure Advance in such manner as the same become due and has performed all Collateral Manager determines is in the covenants of this Lease until such time as this Lease shall be sold upon foreclosure best interest of the Authorized Mortgage. Any default consisting Noteholders as a collective whole, which may include being reimbursed for such Nonrecoverable Cure Advance in installments; provided that the Collateral Manager will not be permitted to defer recovery of Xxxxxx’s failure promptly to discharge any lien, charge Nonrecoverable Cure Advance (or encumbrance against the Premises junior in priority any portion thereof) on any Payment Date to the Authorized Mortgage shall be deemed extent that there are amounts available to be duly cured if distributed to the Preferred Shares Paying Agent for deposit into the Preferred Shares Distribution Account on such Authorized Mortgage shall be foreclosed by appropriate action instituted within said sixty (60) day period and thereafter prosecuted Payment Date for distribution to the holders of the Preferred Shares in diligent and timely manner. Ownership accordance with the Priority of Lessor’s interest and Xxxxxx’s interest by or for the same person shall not affect the merger thereof Payments without the prior written consent of any Authorized Mortgagee regard to such mergerdeferral.

Cure Rights. During Without limiting the continuance generality of the other provisions of this Agreement, and without waiving or releasing any Loan Party from any of their Obligations under the Loan Documents, if there shall occur any default under the Senior Loan Documents or if Senior Lender asserts that Borrower, any SHP Subsidiary or any other Person has defaulted in effect the performance or observance of any Authorized Mortgage term, covenant or condition of this Leasethe Senior Loan Documents (whether or not the same shall have continued beyond any applicable notice or grace periods, Lessor will whether or not terminate this Lease because of Senior Lender shall have accelerated the Senior Loan or delivered proper notice to Borrower, SHP Subsidiaries or any monetary default other Person, and without regard to any other defenses or offset rights Borrower, the SHP Subsidiaries or any other Person may have against Senior Lender), Borrower and the SHP Subsidiaries hereby expressly agree that Administrative Agent shall have the right (but not the obligation), beginning on the date that is one half the number of days of the applicable cure period from the date on which such cure period begins to run, without notice to or demand on Borrower or the SHP Subsidiaries or any other Person, (A) to pay all or any part of Lessee if the Authorized Mortgagee Senior Loan that is then due and payable and any other sums and to perform any act or its assigns shall cure the defaulttake any action, within the later of: (a) sixty (60) days after Lessor has mailed to the Authorized Mortgagee or its assigns at the last known address thereof a written notice on behalf of intention to terminate the interest of Lessee under this Lease for such cause, or (b) sixty (60) days after the expiration of the time period granted to Lessee under this Lease for curing such default. Further, as to any non-monetary defaultBorrower, the Authorized Mortgagee shall have one hundred eighty (180) days after receipt of SHP Subsidiaries or such written notice from Lessorother Person, and a reasonable time after the expiration of said one hundred eighty (180) days if it shall have commenced foreclosure or other appropriate proceeding in the nature thereof within said one hundred eighty (180) day period and is diligently prosecuting the same, within which to endeavor to cure such default. In case of such undertaking, Lessor will not so terminate if the Authorized Mortgagee has commenced foreclosure proceedings or within such further time as may be required by appropriate to cause all of the Authorized Mortgagee terms, covenants and conditions of the Senior Loan Documents to complete foreclosure be promptly performed or observed, (B) to pay any other amounts and take any other action as Administrative Agent shall deem reasonably necessary to protect or preserve the rights and interests of such Authorized Mortgage or other remedy thereunder provided (i) that such remedy is pursued promptly Administrative Agent and completed with due diligenceeach Lender in the Loan and/or the Collateral, and (iiC) Administrative Agent may take any such action deemed necessary by the Requisite Lenders to cure or attempt to cure any default under the Senior Loan Documents. Borrower hereby expressly acknowledges and agrees that neither the Authorized Mortgagee has paid all Rent and Administrative Agent nor any Lender shall have any obligation to Senior Lender, Borrower, SHP Subsidiaries or any other charges accruing hereunder as the same become due and has performed all the covenants of this Lease until Person to make any such time as this Lease shall be sold upon foreclosure of the Authorized Mortgage. Any default consisting of Xxxxxx’s failure promptly payment or performance or to discharge complete any lien, charge cure or encumbrance against the Premises junior in priority to the Authorized Mortgage shall be deemed to be duly cured if such Authorized Mortgage shall be foreclosed attempted cure undertaken or commenced by appropriate action instituted within said sixty (60) day period and thereafter prosecuted in diligent and timely manner. Ownership of Lessor’s interest and Xxxxxx’s interest by Administrative Agent or for the same person shall not affect the merger thereof without the prior written consent of any Authorized Mortgagee to such mergerLender.