Common use of Event of Default Under Other Loan Documents Clause in Contracts

Event of Default Under Other Loan Documents. An Event of Default (as defined therein) occurs under the Notes or the Loan Agreement, or Borrower or Guarantor fails to promptly pay, perform, observe or comply with any obligation or agreement contained in any of the other Loan Documents (within any applicable grace or cure period) and in accordance with the terms of the applicable Loan Documents, or if no such grace or cure period is specified, such failure continues uncured for a period of thirty (30) days after Notice from Beneficiary to Grantor, unless (a) such failure, by its nature, is not capable of being cured within such period, and (b) within such period, Grantor commences to cure such failure and thereafter diligently prosecutes the cure thereof, and (c) Grantor causes such failure to be cured no later than ninety (90) days after the date of such Notice from Beneficiary.

Appears in 7 contracts

Samples: KBS Real Estate Investment Trust II, Inc., KBS Real Estate Investment Trust II, Inc., KBS Real Estate Investment Trust III, Inc.

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Event of Default Under Other Loan Documents. An Event of Default (as defined therein) occurs under the Notes Note or the Loan Agreement, or Borrower Grantor or Guarantor fails to promptly pay, perform, observe or comply with any obligation or agreement contained in any of the other Loan Documents (within any applicable grace or cure period) period and in accordance with the terms of the applicable Loan Documents, or if no such grace or cure period is specified, such failure continues uncured for a period of thirty (30) days after Notice from Beneficiary to Grantor, unless (a) such failure, by its nature, is not capable of being cured within such period, and (b) within such period, Grantor commences to cure such failure and thereafter diligently prosecutes the cure thereof, and (c) Grantor causes such failure to be cured no later than ninety (90) days after the date of such Notice from Beneficiary).

Appears in 3 contracts

Samples: Security Agreement (KBS Real Estate Investment Trust III, Inc.), Assignment, Security Agreement (KBS Strategic Opportunity REIT, Inc.), KBS Real Estate Investment Trust III, Inc.

Event of Default Under Other Loan Documents. An Event of Default (as defined therein) occurs under the Notes or the Loan Agreement, or Borrower Grantor or Guarantor fails to promptly pay, perform, observe or comply with any obligation or agreement contained in any of the other Loan Documents (within any applicable grace or cure period) and in accordance with the terms of the applicable Loan Documents, or if no such grace or cure period is specified, such failure continues uncured for a period of thirty (30) days after Notice from Beneficiary to Grantor, unless (a) such failure, by its nature, is not capable of being cured within such period, and (b) within such period, Grantor commences to cure such failure and thereafter diligently prosecutes the cure thereof, and (c) Grantor causes such failure to be cured no later than ninety (90) days after the date of such Notice from Beneficiary.

Appears in 2 contracts

Samples: Security Agreement (KBS Real Estate Investment Trust II, Inc.), KBS Strategic Opportunity REIT, Inc.

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Event of Default Under Other Loan Documents. An Event of Default (as defined therein) occurs under the Notes Note or the Loan Agreement, or Borrower Grantor or Guarantor fails to promptly pay, perform, observe or comply with any obligation or agreement contained in any of the other Loan Documents (within any applicable grace or cure period) and in accordance with the terms of the applicable Loan Documents, or if no such grace or cure period is specified, such failure continues uncured for a period of thirty (30) days after Notice from Beneficiary to Grantor, unless (a) such failure, by its nature, is not capable of being cured within such period, and (b) within such period, Grantor commences to cure such failure and thereafter diligently prosecutes the cure thereof, and (c) Grantor causes such failure to be cured no later than ninety (90) days after the date of such Notice from Beneficiary.

Appears in 1 contract

Samples: Agreement and Fixture (KBS Strategic Opportunity REIT, Inc.)

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