Defaults Under Mortgage. The Developer, or its successor or assign, will use commercially reasonable efforts to obtain an agreement from any mortgagee under a Mortgage that in the event the Developer is in default under any Mortgage, the mortgagee will use commercially reasonable efforts, within thirty (30) days after it becomes aware of any such default and prior to exercising any remedy available to it due to such default, to notify the Authority in writing of (i) the fact of default; (ii) the elements of default; and (iii) the actions required to cure the default. The Developer, or its successor or assign, will use its commercially reasonable efforts to obtain an agreement in any such Mortgage, that if, within the time period required by the Mortgage, the Authority cures any default under the Mortgage, the mortgagee will pursue none of its remedies under the Mortgage based on such default, provided that failure of the Developer or its successors or assigns to obtain such an agreement from any such mortgagee shall not constitute a breach of this Agreement.
Defaults Under Mortgage. The Developer, or its successor or assign, will use its best efforts to obtain an agreement from any mortgagee under a Mortgage that in the event the Developer is in default under any Mortgage, the mortgagee will use its best efforts, within ten (10) days after it becomes aware of any such default and prior to exercising any remedy available to it due to such default, to notify the Authority in writing of (i) the fact of default; (ii) the elements of default; and (iii) the actions required to cure the default. The Developer, or its successor or assign, will use its best efforts to obtain an agreement in any such Mortgage, that if, within the time period required by the Mortgage, the Authority cures any default under the Mortgage, the mortgagee will pursue none of its remedies under the Mortgage based on such default.
Defaults Under Mortgage. The Master Redeveloper, or its successor or assign, will use commercially reasonable efforts to obtain an agreement from any mortgagee under a Mortgage that in the event the Master Redeveloper is in default under any Mortgage, the mortgagee will use commercially reasonable efforts, within thirty (30) days after it becomes aware of any such default and prior to exercising any remedy available to it due to such default, to notify the Authority in writing of (i) the fact of default; (ii) the elements of default; and
Defaults Under Mortgage. The Redeveloper, or its successor or assign, will use its best efforts to obtain an agreement from any mortgagee under a Mortgage that in the event the Redeveloper is in default under any Mortgage, the mortgagee will use its best efforts, within 10 days after it becomes aware of any such default and prior to exercising any remedy available to it due to such default, to notify the Authority in writing of (i) the fact of default;
Defaults Under Mortgage. In the event there shall be any default under the terms of the Mortgage, Lender shall give Agency written notice of such default before commencing foreclosure proceedings.
