Common use of Lender Cure Rights Upon System Owner Default Clause in Contracts

Lender Cure Rights Upon System Owner Default. Upon an Event of Default by System Owner, a copy of any notice delivered under Section 12.1 shall be delivered concurrently by Host Customer to any Lender at the addresses provided by System Owner to Host Customer. Following the receipt by any Lender of any notice that System Owner is in default in its obligations under this Agreement, such Lender shall have the right but not the obligation to cure any such default, and Host Customer agrees to accept any cure tendered by the Lender on behalf of System Owner in accordance with the following: (a) a Lender shall have the same period after receipt of a notice of default to remedy an Event of Default by System Owner, or cause the same to be remedied, as is given to System Owner after System Owner's receipt of a notice of default hereunder; provided, however, that any such cure periods shall be extended for the time reasonably required by the Lender to complete such cure, including the time required for the Lender to obtain possession of the System (including possession by a receiver), institute foreclosure proceedings or otherwise perfect its right to effect such cure; and (b) the Lender shall not be required to cure those Events of Default that are not reasonably susceptible of being cured or performed by the Lender. The Lender shall have the absolute right to substitute itself or an affiliate for System Owner and perform the duties of System Owner hereunder for purposes of curing such Event of Default. Host Customer expressly consents to such substitution, and authorizes the Lender, its affiliates (or either of their employees, agents, representatives or contractors) to enter upon the Premises to complete such performance with all of the rights and privileges of System Owner, but subject to the terms and conditions of this Agreement.

Lender Cure Rights Upon System Owner Default. Upon an Event of Default by System Owner, Host Customer shall deliver to each Lender of which it has notice a copy of any notice of default delivered under Section 12.1 shall be delivered concurrently by Host Customer to any Lender at the addresses provided by System Owner to Host Customer13.1. Following the receipt by any Lender of any notice that System Owner is in default in its obligations under this Agreement, such Lender shall have the right but not the obligation to cure any such default, and Host Customer agrees to accept any cure tendered by the Lender Lenders on behalf of System Owner in accordance with the following: (a) a Lender shall have the same period after receipt of a notice of default to remedy an Event of Default by System Owner, or cause the same to be remedied, as is given to System Owner after System Owner's ’s receipt of a notice of default hereunder; provided, however, that any such cure periods shall be extended for the time reasonably required by the Lender to complete such cure, including the time required for the Lender to obtain possession of the System (including possession by a receiver), institute foreclosure proceedings or otherwise perfect its right to effect such cure; and (b) the Lender shall not be required to cure those Events of Default that are not reasonably susceptible of being cured or performed by the Lender. The Lender shall have the absolute right to substitute itself or an affiliate for System Owner and perform the duties of System Owner hereunder for purposes of curing such Event of Default. Host Customer solely expressly consents to such substitution, and authorizes the Lender, its affiliates (or either of their employees, agents, representatives or contractors) to enter upon the Premises to complete such performance with all of the rights and privileges of System Owner, but subject to the terms and conditions of this Agreement.

Lender Cure Rights Upon System Owner Default. Upon an any Event of Default by System OwnerOperator, a copy of any notice delivered under Section 12.1 Article 11 shall be delivered concurrently by Host Customer Subscriber to any Lender at the addresses provided in writing by System Owner Operator to Host CustomerSubscriber. Following the receipt by any Lender of any notice that System Owner Operator is in default in its obligations under this Agreement, such Lender shall have the right but not the obligation to cure any such default, and Host Customer Subscriber agrees to accept any cure tendered by the Lender Lenders on behalf of System Owner Operator in accordance with the following: (a) a Lender shall have the same period after receipt of a notice of default to remedy an Event of Default by System OwnerOperator, or cause the same to be remedied, as is given to System Owner Operator after System Owner's Operator’s receipt of a notice of default hereunder; provided, however, that any such cure periods shall be extended for the time reasonably required by the Lender to complete such cure, including the time required for the Lender to obtain possession of the System (including possession by a receiver), institute foreclosure proceedings or otherwise perfect its right to effect such cure, but in no event longer than 180 days; and (b) the Lender shall not be required to cure those Events of Default that are not reasonably susceptible of being cured or performed by the Lender. The Lender shall have the absolute right to substitute itself or an affiliate Affiliate for System Owner Operator and perform the duties of System Owner Operator hereunder for purposes of curing such Event of Default. Host Customer Subscriber expressly consents to such substitution, and authorizes the Lender, its affiliates (or either of their employees, agents, representatives or contractors) to enter upon the Premises to complete such performance with all of the rights and privileges of System OwnerOperator, but subject to the terms and conditions of this Agreement.