Common use of Insecurity Clause in Contracts

Insecurity. Lender, in good faith, deems itself insecure. RIGHT TO CURE. If any default, other than a Default on Indebtedness, is curable and if Grantor has not been given a prior notice of a breach of the same provision of this Agreement, it may be cured (and no Event of Default will have occurred) if Grantor, after Lender sends written notice demanding cure of such default, (a) cures the default within fifteen (15) days; or (b), if the cure requires more than fifteen (15) days, immediately initiates steps with Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.

Appears in 3 contracts

Samples: Commercial Security Agreement (Credit Concepts Inc), Commercial Security Agreement (Credit Concepts Inc), Commercial Security Agreement (Credit Concepts Inc)

AutoNDA by SimpleDocs

Insecurity. Lender, in good faith, deems itself insecure. RIGHT TO CURE. If any default, other than a Default on Indebtedness, is curable and if Grantor has not been given a prior notice of a breach of the same provision of this Agreement, it may be cured (and no Event of Default will have occurred) if Grantor, after Lender sends written notice demanding cure of such default, (a) cures the default within fifteen (15) days; or (b), ) if the cure requires more than fifteen (15) days, immediately initiates steps with which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.

Appears in 2 contracts

Samples: Security Agreement (Balance Bar Co), Lindal Cedar Homes Inc /De/

Insecurity. Lender, in good faith, deems itself insecure. RIGHT TO CURE. If any default, other than a Default on Indebtedness, is in curable and if Grantor has not been given a prior notice of a breach of the same provision of this Agreement, it may be cured (and no Event of Default will have occurred) if Grantor, after Lender sends written notice demanding cure of such default, (a) cures the default within fifteen (15) days; or (b), ) if the cure requires more than fifteen (15) days, immediately initiates steps with which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.

Appears in 1 contract

Samples: Loan Agreement (U S Laboratories Inc)

Insecurity. Lender, in good faith, deems itself insecure. RIGHT TO CURE. If any default, other than a Default on Indebtednessindebtedness, is curable and if Grantor has not been given a prior notice of a breach of the same provision of this Agreement, it may be cured (and no Event of Default will have occurred) if Grantor, after Lender sends written notice demanding cure of such default, (a) cures the default within fifteen (15) days; or (b), if the cure requires more than fifteen (15) days, immediately initiates steps with which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably reasonable practical.

Appears in 1 contract

Samples: Genesis Media Group Inc /De/

Insecurity. Lender, in good faith, deems itself insecure. RIGHT RIGHTS TO CURE. If any default, other than a Default on Indebtedness, is curable and if Grantor has not been given a prior notice of a breach of the same provision of this Agreement, it may be cured (and no Event of Default will have occurred) if Grantor, after Lender sends send written notice demanding cure of such default, (a) cures the default within fifteen (15) days; or (b), if the cure requires more than fifteen (15) days, immediately initiates steps with which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.

Appears in 1 contract

Samples: Commercial Security Agreement (Si Diamond Technology Inc)

AutoNDA by SimpleDocs

Insecurity. Lender, in good faith, deems itself insecure. RIGHT TO CURE. If any default, other than a Default on Indebtedness, is curable and if Grantor has not been given a prior notice of a breach of the same provision of this Agreement, it may be cured (and no Event of Default will have occurred) if Grantor, after Lender sends written notice demanding cure of such default, (a) cures the default within fifteen (15) days; or (b), if the cure requires more than fifteen (15) days, immediately initiates steps with which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.

Appears in 1 contract

Samples: Revolving Credit Agreement (Leap Group Inc)

Insecurity. Lender, in good faith, deems itself insecure. RIGHT TO CURE. If any default, other than a Default on Indebtedness, is curable and if Grantor or Borrower has not been given a prior notice of a breach of the same provision of this Agreement, it may be cured (and no Event of Default will have occurred) if GrantorGrantor or Borrower, after Lender sends written notice demanding cure of such default, (a) cures the default within fifteen ten (1510) days; or (b), if the cure requires more than fifteen ten (1510) days, immediately initiates steps with which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.

Appears in 1 contract

Samples: Commercial Security Agreement (Keith Companies Inc)

Insecurity. Lender, in good faith, deems itself insecure. RIGHT TO CURE. If any default, other than a Default on Indebtednessindebtedness, is curable and if Grantor has not been given a prior notice of a breach of the same provision of this Agreement, it may be cured (and no Event of Default will have occurred) if Grantor, after Lender sends written notice demanding cure of such default, (a) cures the default within fifteen (15) days; or (b), ) if the cure requires more than fifteen (15) days, immediately initiates steps with which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.

Appears in 1 contract

Samples: Commercial Pledge Agreement (Training Devices International Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.