Extension of Cure Period Completion Date and Initial Period. If the Collateral Agent is prohibited by any court order, bankruptcy or insolvency proceedings from: (a) remedying the Concessionaire Default that is the subject of a Department Notice; or (b) from commencing or prosecuting foreclosure proceedings, each of the relevant Cure Period Completion Date and Initial Period will be extended by a period of time equal to the shorter of the period of such prohibition or 150 Days.
Appears in 4 contracts
Samples: Direct Agreement, Direct Agreement, Direct Agreement
Extension of Cure Period Completion Date and Initial Period. If the Collateral Agent is prohibited by any court order, bankruptcy or insolvency proceedings from:
(a) remedying the Concessionaire Developer Default that is the subject of a Department Notice; or
(b) from commencing or prosecuting foreclosure proceedings, each of the relevant Cure Period Completion Date and Initial Period will be extended by a period of time equal to the shorter of the period of such prohibition or 150 Days.
Appears in 2 contracts
Samples: Direct Agreement, Direct Agreement
Extension of Cure Period Completion Date and Initial Period. If the Collateral Agent is prohibited by any court order, bankruptcy or insolvency proceedings from:
(a) remedying the Concessionaire Default that is the subject of a Department Notice; or
(b) from commencing or prosecuting foreclosure proceedings, each of the relevant Cure Period Completion Date and Initial Period will shall be extended by a period of time equal to the shorter of the period of such prohibition or 150 Days.
Appears in 1 contract
Samples: Direct Agreement
