Cure Upon Default. Should a Party be in Default, the non-defaulting Party shall send written notice to the defaulting Party of the Default (the “Default Notice”). The Default Notice shall set forth with particularity the basis of the Default. The defaulting Party or a Party acting on its behalf shall have 30 days from receipt of the Default Notice (the “Cure Period”), to cure any monetary Default and a 90-day Cure Period to cure any non-monetary default. However, if the Default is a non-monetary Default of a nature that cannot be cured within the Cure Period, using reasonable diligence, the time to cure the Default shall be extended beyond the Cure Period for the time period required in order to allow the defaulting Party to cure the Default, provided that the defaulting Party continues using reasonable diligence to cure the Default. Upon the expiration of the Cure Period, or any extension thereof, and providing that the Default is not cured, the non- defaulting Party shall be permitted to invoke the remedies set forth in Section 9.4 below.
Cure Upon Default. Should any party be in Default of any obligation under this Agreement, the other party shall notify the defaulting party and any mortgagee, if applicable and if the Township has been provided written notice of the mortgagee and its contact information, in writing of said Default. Said notice shall set forth with particularity the basis of said Default. Except as otherwise limited by law, the defaulting party shall have sixty (60) days to cure any Default, other than a Default in payment of any installment of the Annual Service Charge, in which case there shall be no cure period.
Cure Upon Default. Should any party be in Default of any obligation under this Agreement, the other party shall notify the defaulting party and any mortgagee, if applicable, in writing of said Default. If the defaulting party is the Urban Renewal Entity, the City, shall provide such notice. Said notice shall set forth with particularity the basis of said Default. Except as otherwise limited by law, the defaulting party shall have sixty (60) days to cure any Default, other than a Default in payment of any installment of the Annual Service Charge, in which case the defaulting party shall have fifteen (15) days to cure.
Cure Upon Default. Should a Party be in Default of any obligation under this Agreement, the non-defaulting Party shall notify the defaulting Party and any mortgagee, if applicable, of the Entity in writing of said Default (the “Default Notice”). Said Default Notice shall set forth with particularity the basis of said Default. Except as otherwise limited by law, the defaulting Party shall have sixty
Cure Upon Default. Should any party be in Default of any obligation under this Agreement, the other party shall notify the defaulting party and any mortgagee, if applicable and if the Township has been provided written notice of the mortgagee and its contact information, in writing of said Default. If the defaulting party is an Urban Renewal Entity or any of its Affiliated Entities, either the Township, or the Trustee as the Township’s assignee and agent, shall provide such notice. Said notice shall set forth with particularity the basis of said Default. Except as otherwise limited by law, the defaulting party shall have sixty (60) days to cure any Default, other than a Default in payment of any installment of the Annual Service Charge, in which case there shall be no cure period.
Cure Upon Default. Should the Entity be in Default of any obligation under this Agreement, the Township shall notify the Entity and any mortgagee of the Entity in writing of said Default (“Default Notice”). Said Default Notice shall set forth with particularity the basis of said Default. Except as otherwise limited by law, the Entity shall have sixty (60) days to cure any Default (other than a Default in payment of any installment of the Annual Service Charge, for which the cure period shall be ten (10) days) from the date of its receipt of the Default Notice. In the event of any uncured Default, the Township shall have the right to proceed against the Property pursuant to applicable provisions of the Law and the Financial Agreement. Upon any Default in payment of any installment of the Annual Service Charge, the Township shall have the right to proceed to In Rem Tax Foreclosure consistent with the provisions and procedures of the In Rem Tax Foreclosure law.
Cure Upon Default. Should any party be in Default of any obligation under this Agreement, the other party shall notify the defaulting party and any mortgagee, if applicable, in writing of said Default. If the defaulting party is the Urban Renewal Entity, the City, shall provide such notice. Said notice shall set forth with particularity the basis of said Default. Except as otherwise limited by law, the defaulting party shall have sixty (60) days to cure any Default, other than a Default in payment of any installment of the Annual Service Charge, in which case the defaulting party shall have fifteen (15) days to cure, provided that if such Default (other than payment of any installment of the Annual Service Charge) cannot reasonably be cured within sixty (60) days, then, provided that the Urban Renewal Entity commences to cure such Default within the sixty (60) day period and thereafter diligently pursues the cure to completion, then the Urban Renewal Entity shall have a reasonable time to cure the Default.
Cure Upon Default. Should any party be in default of any obligation under this Agreement, the other party shall notify the defaulting party and any mortgagee simultaneously, if applicable, in writing of said default. Except as otherwise limited by law, the defaulting party shall have sixty (60) days to cure any default, other than a payment default, for which the defaulting party shall have ten (10) days to cure. Notwithstanding the foregoing, if the Entity shall default in any of its obligations hereunder, before exercising any remedy against the Entity provided in Section 5.03 hereof, the City will provide any mortgagee a reasonable additional period of time to cure such default as follows (i) with respect to any default relating to a payment obligation, the mortgagee shall be permitted an additional ten (10) day cure period and (ii) with respect to any other default, an additional sixty (60) day cure period; provided, however, if such default is susceptible to cure, but is not reasonably susceptible to cure within such sixty (60) day period, such longer period (not to exceed one hundred eighty (180) days) as shall be reasonably necessary for mortgagee to effect such cure, provided that the mortgagee has commenced such cure within such sixty (60) day period and thereafter is diligently prosecuting same.
Cure Upon Default. If any party to this Financial Agreement breaches the terms or conditions contained in this Financial Agreement or in the Redevelopment Agreement, then the aggrieved party shall send a written default notice to the other party (“Default Notice”). The Default Notice shall set forth with particularity the basis of the alleged default. The party in breach shall have thirty (30) days, from receipt of the Default Notice, to cure any default (the “Cure Period”). As set forth in Section 10.2 below, no Default Notice shall be required for failure to pay Land Taxes, Annual Service Charges, or other municipal services charges. Upon the expiration of the Cure Period, or upon the expiration of any extension period, the aggrieved party shall have the right to terminate this Financial Agreement in accordance with Article XI hereof.
Cure Upon Default. Should the Entity be in Default, the Borough shall notify the Entity and any Secured Party in writing of said Default. Said notice shall set forth with particularity the basis of said Default. Except as provided in Section 8.02(b) hereof or otherwise limited by law, the Entity shall have sixty (60) days after it receives Notice to cure any Default (other than a Default in payment of any installment of the Annual Service Charge, which Default must be cured within fifteen
