Common use of Failure of Lenders to Cure Default Clause in Contracts

Failure of Lenders to Cure Default. If the Lenders fail to cure or are unable or unwilling to cure any Company Event of Default that is required to be cured prior to the expiration of the periods referred to above in this Section 13.5, the GOB shall have all the rights and remedies with respect to such default as set forth in this Agreement; provided, that: (i) upon the expiration of the Initial Cure Period, the Lenders shall have a further period (the “Evaluation Period”), during which the Lenders may evaluate such Company Event of Default, the condition of the Facility, and other matters relevant to the actions to be taken by the Lenders concerning such Company Event of Default; and (ii) the Evaluation Period shall end on the earlier of:

Appears in 3 contracts

Samples: Implementation Agreement, Implementation Agreement, Implementation Agreement

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