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Common use of Failure by Borrower Clause in Contracts

Failure by Borrower. to perform obligation not involving the payment of money, or to comply with any other term or condition applicable to Borrower under any Loan Document, and after the expiration of 30 days written notice of such failure by Lender to Borrower and Trustee and good faith consultation by Lender with Borrower and Trustee during such 30 day period to resolve such failure by agreement, provided that if Borrower cannot reasonably cure such failure within such 30 day period, such 30 day period may be extended for a reasonable period not in excess of 90 days from the date of Xxxxxx’s notice to cure such failure provided that Borrower has commenced such cure within such 30 day period and diligently thereafter proceeds to effect such cure.

Appears in 1 contract

Samples: Loan Agreement

Failure by Borrower. to perform obligation not involving the payment of money, or to comply with any other term or condition applicable to Borrower under any Loan Document, and after the expiration of 30 thirty (30) days after written notice of such failure by Lender to Borrower and Trustee and good faith consultation by Lender with Borrower and Trustee during such 30 day period to resolve such failure by agreementBorrower, provided that if Borrower cannot reasonably cure such failure within such 30 thirty (30) day period, such 30 thirty (30) day period may shall be extended for a reasonable period not in excess of 90 ninety (90) days from the date of XxxxxxLender’s notice to cure such failure provided that Borrower has shall have commenced such cure within such 30 thirty (30) day period and shall diligently thereafter proceeds proceed to effect such cure.

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement (William Lyon Homes)

Failure by Borrower. to perform obligation not involving the payment of money, or to comply with any other term or condition applicable to Borrower under any Loan Document, and after the expiration of 30 days written notice of such failure by Lender to Borrower and Trustee and good faith consultation by Lender with Borrower and Trustee during such 30 day period to resolve such failure by agreementTrustee, provided that if Borrower cannot reasonably cure such failure within such 30 day period, such 30 day period may be extended for a reasonable period not in excess of 90 days from the date of XxxxxxLender’s notice to cure such failure provided that Borrower has commenced such cure within such 30 day period and diligently thereafter proceeds to effect such cure.

Appears in 1 contract

Samples: Loan Agreement

Failure by Borrower. to perform obligation not involving the payment of money, or to comply with any other term or condition applicable to Borrower under any Loan Document, and after the expiration of 30 thirty (30) days after written notice of such failure by Lender to Borrower and Trustee and good faith consultation by Lender with Borrower and Trustee during such 30 day period to resolve such failure by agreementBorrower, provided that if Borrower cannot reasonably cure such failure within such 30 thirty (30) day period, such 30 thirty (30) day period may shall be extended for a reasonable period not in excess of 90 ninety (90) days from the date of Xxxxxx’s Lender's notice to cure such failure provided that Borrower has shall have commenced such cure within such 30 thirty (30) day period and shall diligently thereafter proceeds proceed to effect such cure.

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement (William Lyon Homes)