ERISA; Negative Covenants. A default shall occur in the due performance or observance by any Borrower of any term, covenant or agreement contained in Section 5.8 or in Article VI; provided that if such default is susceptible of being cured, such default shall not constitute an Event of Default unless and until it shall remain uncured for 10 days after Borrower receives written notice thereof, for a default which can be cured by the payment of money, or for 30 days after Borrower receives written notice thereof, for a default which cannot be cured by the payment of money; or any ERISA Event with respect to a Plan shall have occurred and the same shall have a Material Adverse Effect.
Appears in 4 contracts
Samples: Senior Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.), Loan Agreement (Gramercy Capital Corp), Loan Agreement (Gramercy Capital Corp)
ERISA; Negative Covenants. A default shall occur in the due performance or observance by any Borrower of any term, covenant or agreement contained in Section 5.8 or in Article VI; provided that if such default is susceptible of being cured, such default shall not constitute an Event of Default unless and until it shall remain uncured for 10 days after Borrower receives written notice thereof, for a default which can be cured by the payment of money, or for 30 days after Borrower receives written notice thereof, for a default which cannot be cured by the payment of money; or any ERISA Event with respect to a Plan shall have occurred and the same shall have a Material Adverse Effect.
Appears in 1 contract
Samples: Junior Mezzanine Loan Agreement (Gramercy Capital Corp)
