Common use of Extension for Foreclosure Proceedings Clause in Contracts

Extension for Foreclosure Proceedings. If possession of the Project (as defined in the Assigned Agreement) is necessary for Financing Provider to cure an Event of Default and Financing Provider commences foreclosure proceedings against Seller within thirty (30) days of receiving notice of an Event of Default from Buyer or Seller, whichever is received first, Financing Provider shall be allowed a reasonable additional period to complete such foreclosure proceedings, such period not to exceed ninety

Appears in 8 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

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