Common use of Extension of Cure Period Completion Date and Initial Period Clause in Contracts

Extension of Cure Period Completion Date and Initial Period. If the Collateral Agent: (a) is prohibited by any court order, bankruptcy or insolvency proceedings from remedying the 395 Concessionaire Breach that is the subject of a Department Notice; or (b) pursues with good faith, diligence and continuity lawful processes and steps to obtain the appointment of a court receiver for the 395 Project and possession, custody and control of the 395 Project, but despite such efforts the Collateral Agent is unable to obtain such possession, custody and control of the 395 Project; then 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 180 Days.

Extension of Cure Period Completion Date and Initial Period. If the Collateral Agent: (a) is prohibited by any court order, bankruptcy or insolvency proceedings from remedying the 395 NEXT Concessionaire Breach that is the subject of a Department Notice; or (b) pursues with good faith, diligence and continuity lawful processes and steps to obtain the appointment of a court receiver for the 395 NEXT Project and possession, custody and control of the 395 NEXT Project, but despite such efforts the Collateral Agent is unable to obtain such possession, custody and control of the 395 NEXT Project; then 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 180 Days.