Common use of Lender’s Right to Cure Clause in Contracts

Lender’s Right to Cure. Tenant shall deliver to Lender a copy of any notice of any default(s) by landlord under the Lease in the same manner as, and whenever, Tenant shall give any such notice to Owner, and no such notice shall be deemed given to Owner unless and until a copy of such notice shall have been so delivered to Lender. Lender shall have the right to remedy, or cause to be remedied, any default by Owner under the Lease, and, for such purpose Tenant grants Lender such additional period of time as may be reasonable to enable Lender to remedy, or cause to be remedied, any such default in addition to the period given to Owner for remedying, or causing to be remedied, any such default. Tenant shall accept performance by Lender of any covenant or condition to be performed by Owner under the Lease with the same force and effect as though performed by Owner. No default by Landlord under the Lease shall exist or shall be deemed to exist (a) so long as Lender, in good faith, shall have commenced to cure such default within the above-referenced time period and shall be prosecuting the same to completion with reasonable diligence, subject to force majeure, or (b) if possession of the Premises is required in order to cure such default, or if such default is not susceptible of being cured by Lender, so long as Lender, in good faith, shall have notified Tenant that Lender intends to institute enforcement proceedings under the Security Documents, and, thereafter, so long as such proceedings shall have been instituted and shall be prosecuted with reasonable diligence. Lender shall have the right, without notice to Tenant or Tenant’s consent, to foreclose the Mortgage or to accept a deed in lieu of foreclosure of the Mortgage or otherwise realize upon the Mortgage or to exercise any other remedies under the Security Documents or state law. Table of Contents

Lender’s Right to Cure. Tenant shall deliver to Lender a copy of any notice of any default(s) by landlord under the Lease in the same manner as, and whenever, Tenant shall give any such notice to Owner, and no such notice shall be deemed given to Owner unless and until a copy of such notice shall have been so delivered to Lender. Lender shall have the right to remedy, or cause to be remedied, any default by Owner under the Lease, and, for such purpose Tenant grants Lender such additional period of time as may be reasonable to enable Lender to remedy, or cause to be remedied, any such default default, in addition to the period given to Owner for remedying, or causing to be remedied, any such default, such additional period of time not to exceed ninety (90) days. Tenant shall accept performance by Lender of any covenant or condition to be performed by Owner under the Lease with the same force and effect as though performed by Owner. No default by Landlord Owner under the Lease shall exist or shall be deemed to exist (a) so long as Lender, in good faith, shall have commenced to cure such default within the above-referenced time period and shall be prosecuting the same to completion with reasonable diligence, subject to force majeure, or (b) if possession of the Premises is required in order to cure such default, or if such default is not susceptible of being cured by Lender, so long as Lender, in good faith, shall have notified Tenant that Lender intends to institute enforcement proceedings under the Security Documents, and, thereafter, so long as such proceedings shall have been instituted and shall be prosecuted with reasonable diligence. Lender shall have the right, without notice to Tenant or Tenant’s consent, to foreclose the Mortgage or to accept a deed in lieu of foreclosure of the Mortgage or otherwise realize upon the Mortgage or to exercise any other remedies under the Security Documents or state law. Table of Contents.

Lender’s Right to Cure. Tenant shall deliver to Lender a copy of any notice of any default(s) by landlord under the Lease in the same manner as, and whenever, Tenant shall give any such notice to Owner, and no such notice shall be deemed given to Owner unless and until a copy of such notice shall have been so delivered to Lender. Lender shall have the right to remedy, or cause to be remedied, any default by Owner under the Lease, and, for such purpose Tenant grants Lender such additional period of time as may be reasonable to enable Lender to remedy, or cause to be remedied, any such default in addition to the period given to Owner for remedying, or causing to be remedied, any such default. Tenant shall accept performance by Lender of any covenant or condition to be performed by Owner under the Lease with the same force and effect as though performed by Owner. No default by Landlord under the Lease shall exist or shall be deemed to exist (a) so long as Lender, in good faith, shall have commenced to cure such default within the above-referenced time period and shall be prosecuting the same to completion with reasonable diligence, subject to force majeure, or (b) if possession of the Premises is required in order to cure such default, or if such default is not susceptible of being cured by Lender, so long as Lender, in good faith, shall have notified Tenant that Lender intends to institute enforcement proceedings under the Security Documents, and, thereafter, so long as such proceedings shall have been instituted and shall be prosecuted with reasonable diligence. Lender shall have the right, without notice to Tenant or Tenant’s consent, to foreclose the Mortgage or to accept a deed in lieu of foreclosure of the Mortgage or otherwise realize upon the Mortgage or to exercise any other remedies under the Security Documents or state law. Table of Contents6.

Lender’s Right to Cure. Tenant shall deliver to Lender a copy of any notice of any default(s) by landlord under the Lease in the same manner as, and whenever, Tenant shall give any such notice to Owner, and no such notice shall be deemed given to Owner unless and until a copy of such notice shall have been so delivered to Lender. Lender shall have the right to remedy, or cause to be he remedied, any default by Owner under the Lease, and, for such purpose Tenant grants Lender such additional period of time as may be reasonable to enable Lender to remedy, or cause to be remedied, any such default in addition to the period given to Owner for remedying, or causing to be remedied, any such default, such additional period of time not to exceed ninety (90) days. Tenant shall accept performance by Lender of any covenant or condition to be performed by Owner under the Lease with the same force and effect as though performed by Owner. No default by Landlord Owner under the Lease shall exist or shall be deemed to exist (a) so long as Lender, in good faith, shall have commenced to cure such default within the above-referenced time period and shall be prosecuting the same to completion with reasonable diligence, subject to force majeure, or (b) if possession of the Premises is required in order to cure such default, or if such default is not susceptible of being cured by Lender, so long as Lender, in good faith, shall have notified Tenant that Lender intends to institute enforcement proceedings under the Security Documents, and, thereafter, so long as such proceedings shall have been instituted and shall be he prosecuted with reasonable diligence. Lender shall have the right, without notice to Tenant or Tenant’s 's consent, to foreclose the Mortgage or to accept a deed in lieu of foreclosure of the Mortgage or otherwise realize upon the Mortgage or to exercise any other remedies under the Security Documents or state law. Table of Contents.

Lender’s Right to Cure. Tenant shall deliver to Lender a copy of any notice of any default(s) by landlord under the Lease in the same manner as, and whenever, Tenant shall give any such notice to Owner, and no such notice shall be deemed given to Owner unless and until a copy of such notice shall have been so delivered to Lender. Lender shall have the right to remedy, or cause to be remedied, any default by Owner under the Lease, and, for such purpose Tenant grants Lender such additional period of time as may be reasonable to enable Lender to remedy, or cause to be remedied, any such default in addition to the period given to Owner for remedying, or causing to be remedied, any such default. Tenant shall accept performance by Lender of any covenant or condition to be performed by Owner under the Lease with the same force and effect as though performed by Owner. No default by Landlord under the Lease shall exist or shall be deemed to exist (a) so long as Lender, in good faith, shall have commenced to cure such default within the above-referenced time period and shall be prosecuting the same to completion with reasonable diligence, subject to force majeure, or (b) if possession of the Premises is required in order to cure such default, or if such default is not susceptible of being cured by Lender, so long as Lender, in good faith, shall have notified Tenant that Lender intends to institute enforcement proceedings under the Security Documents, and, thereafter, so long as such proceedings shall have been instituted and shall be prosecuted with reasonable diligence. Lender shall have the right, without notice to Tenant or Tenant’s consent, to foreclose the Mortgage or to accept a deed in lieu of foreclosure of the Mortgage or otherwise realize upon the Mortgage or to exercise any other remedies under the Security Documents or state law. Table of Contents.

Lender’s Right to Cure. Tenant shall deliver to Lender a copy of any notice of any default(s) by landlord under the Lease in the same manner as, and whenever, Tenant shall give any such notice to Owner, and no such notice shall be deemed given to Owner unless and until a copy of such notice shall have been so delivered to Lender. Lender shall have the right to remedy, or cause to be remedied, any default by Owner under the Lease, and, for such purpose Tenant grants Lender such additional period of time as may be reasonable to enable Lender to remedy, or cause to be remedied, any such default in addition to the period given to Owner for remedying, or causing to be remedied, any such default. Tenant shall accept performance by Lender of any covenant or condition to be performed by Owner under the Lease with the same force and effect as though performed by Owner. No default by Landlord under the Lease shall exist or shall be deemed to exist (a) so long as Lender, in good faith, shall have commenced to cure such default within the above-referenced time period and shall be prosecuting the same to completion with reasonable diligence, subject to force majeure, or (b) if possession of the Premises is required in order to cure such default, or if such default is not susceptible of being cured by Lender, so long as Lender, in good faith, shall have notified Tenant that Lender intends to institute enforcement proceedings under the Security Documents, and, thereafter, so long as such proceedings shall have been instituted and shall be prosecuted with reasonable diligence. Lender shall have the right, without notice to Tenant or Tenant’s consent, to foreclose the Mortgage or to accept a deed in lieu of foreclosure of the Mortgage or otherwise realize upon the Mortgage or to exercise any other remedies under the Security Documents or state law. Table of Contents.

Lender’s Right to Cure. Tenant shall deliver to Lender a copy of any notice of any default(s) by landlord under the Lease in the same manner as, and whenever, Tenant shall give any such notice to Owner, and no such notice shall be deemed given to Owner unless and until a copy of such notice shall have been so delivered to Lender. Lender shall have the right to remedy, or cause to be remedied, any default by Owner under the Lease, and, for such purpose Tenant grants Lender such additional period of time (not to exceed ninety (90) additional days) as may be reasonable to enable Lender to remedy, or cause to be remedied, any such default in addition to the period given to Owner for remedying, or causing to be remedied, any such default. Tenant shall accept performance by Lender of any covenant or condition to be performed by Owner under the Lease with the same force and effect as though performed by Owner. No default by Landlord under the Lease shall exist or shall be deemed to exist (a) so long as Lender, in good faith, shall have commenced to cure such default within the above-referenced time period and shall be prosecuting the same to completion with reasonable diligence, subject to force majeure, or (b) if possession of the Premises is required in order to cure such default, or if such default is not susceptible of being cured by Lender, so long as Lender, in good faith, shall have notified Tenant that Lender intends to institute enforcement proceedings under the Security Documents, and, thereafter, so long as such proceedings shall have been instituted and shall be prosecuted with reasonable diligence. Lender shall have the right, without notice to Tenant or Tenant’s consent, to foreclose the Mortgage or to accept a deed in lieu of foreclosure of the Mortgage or otherwise realize upon the Mortgage or to exercise any other remedies under the Security Documents or state law. Table of Contents.

Lender’s Right to Cure. Notwithstanding anything to the contrary in the Lease or this Agreement, Tenant shall deliver to provide Lender with written notice (a “Default Notice”) of any default of Landlord under the Lease (which can be a copy of any the notice provided to the Landlord) if such default (a “Landlord Default”) is of any default(s) by landlord under such a nature as to give the Tenant a right to terminate the Lease, and Tenant will not seek to terminate the Lease as a result of a Landlord Default until giving Lendera Default Noticeand providing Lender a period of thirty (30) days thereafter to cure the applicable Landlord Default (the “Cure Period”). Notwithstanding the foregoing, if a Landlord Default cannot with due diligence be cured within the Cure Period because the cure requires possession and control of the Property or Premises, Lender’s cure period shall continue for such additional time as Lender may reasonably require to either obtain possession and control of the Property or Premises or obtain the appointment of a receiver pursuant to any court proceeding or otherwise, in any event, so long as Lender (i) within the same manner asCure Period, notifies Tenant in writing of Lender’s intention to cure such default and whenever(ii) after obtaining possession and control (or the appointment of a receiver), Tenant diligently prosecutes the cure to completion; provided further that in no event shall give any such notice to Owner, and no such notice shall be deemed given to Owner unless and until a copy of such notice shall have been so delivered to Lender’s entire Cure Period exceed ninety (90) days. Lender shall have no obligation to cure (and shall have no liability or obligation for not curing) any breach or default by Landlord, except to the right extent that Lender agrees otherwise in writing. Notwithstanding anything to remedythe contrary in the Lease or this Agreement, or cause to be remedied, Tenant shall also provide. Lender with written notice of any default by Owner under the Lease, and, for such purpose Tenant grants Lender such additional period of time as may be reasonable to enable Lender to remedy, or cause to be remedied, any such default in addition to the period given to Owner for remedying, or causing to be remedied, any such default. Tenant shall accept performance by Lender of any covenant or condition to be performed by Owner under the Lease with the same force and effect as though performed by Owner. No default by Landlord under the Lease shall exist or shall (which can be deemed to exist (a) so long as Lender, in good faith, shall have commenced to cure such default within the above-referenced time period and shall be prosecuting the same to completion with reasonable diligence, subject to force majeure, or (b) if possession a copy of the Premises is required in order notice provided to cure such default, or the Landlord) if such default is not susceptible of being cured by Lendersuch a nature as to give Tenant a right to reduce rent thereunder or to credit or offset any amounts against future rents, so long but in no event shall Tenant be required to provide Lender any cure period with respect there to as Lender, in good faith, shall have notified Tenant that Lender intends a condition precedent to institute enforcement proceedings under the Security Documents, and, thereafter, so long as such proceedings shall have been instituted and shall be prosecuted with reasonable diligence. Lender shall have the right, without notice to Tenant or Tenant’s consent, to foreclose the Mortgage or to accept a deed in lieu exercise of foreclosure of the Mortgage or otherwise realize upon the Mortgage or to exercise any other remedies under the Security Documents or state law. Table of Contentssuch rights.

Lender’s Right to Cure. Notwithstanding anything to the contrary in the Lease or this Agreement, Tenant shall deliver to provide Lender with written notice (a “Default Notice”)of any default of Landlord under the Lease (which can be a copy of any the notice provided to the Landlord) if such default (a “Landlord Default”) is of any default(s) by landlord under such a nature as to give the Tenant a right to terminate the Lease, and Tenant will not seek to terminate the Lease as a result of a Landlord Default until giving Lendera Default Notice and providing Lender a period of thirty (30) days thereafter to cure the applicable Landlord Default (the “Cure Period”). Notwithstanding the foregoing, if a Landlord Default cannot with due diligence be cured within the Cure Period because the cure requires possession and control of the Property or Premises, Lender’s cure period shall continue for such additional time as Lender may reasonably require to either obtain possession and control of the Property or Premises or obtain the appointment of a receiver pursuant to any court proceeding or otherwise, in any event, so long as Lender (i) within the same manner asCure Period, notifies Tenant in writing of Lender’s intention to cure such default and whenever(ii) after obtaining possession and control (or the appointment of a receiver), Tenant diligently prosecutes the cure to completion; provided further that in no event shall give any such notice to Owner, and no such notice shall be deemed given to Owner unless and until a copy of such notice shall have been so delivered to Lender’s entire Cure Period exceed ninety (90) days. Lender shall have no obligation to cure (and shall have no liability or obligation for not curing) any breach or default by Landlord, except to the right extent that Lender agrees otherwise in writing. Notwithstanding anything to remedythe contrary in the Lease or this Agreement, or cause to be remedied, Tenant shall also provide Lender with written notice of any default by Owner under the Lease, and, for such purpose Tenant grants Lender such additional period of time as may be reasonable to enable Lender to remedy, or cause to be remedied, any such default in addition to the period given to Owner for remedying, or causing to be remedied, any such default. Tenant shall accept performance by Lender of any covenant or condition to be performed by Owner under the Lease with the same force and effect as though performed by Owner. No default by Landlord under the Lease shall exist or shall (which can be deemed to exist (a) so long as Lender, in good faith, shall have commenced to cure such default within the above-referenced time period and shall be prosecuting the same to completion with reasonable diligence, subject to force majeure, or (b) if possession a copy of the Premises is required in order notice provided to cure such default, or the Landlord) if such default is not susceptible of being cured by Lendersuch a nature as to give Tenant a right to reduce rent thereunder or to credit or offset any amounts against future rents, so long but in no event shall Tenant be required to provide Lender any cure period with respect there to as Lender, in good faith, shall have notified Tenant that Lender intends a condition precedent to institute enforcement proceedings under the Security Documents, and, thereafter, so long as such proceedings shall have been instituted and shall be prosecuted with reasonable diligence. Lender shall have the right, without notice to Tenant or Tenant’s consent, to foreclose the Mortgage or to accept a deed in lieu exercise of foreclosure of the Mortgage or otherwise realize upon the Mortgage or to exercise any other remedies under the Security Documents or state law. Table of Contentssuch rights.

Lender’s Right to Cure. Tenant shall deliver If Borrower or any other Obligor should fail to comply with any of its agreements, covenants or obligations under any Credit Document, then after reasonable notice thereof to Borrower, Lender a copy of any notice of any default(s) by landlord under the Lease (in the same manner as, and whenever, Tenant shall give any name of Borrower or such notice to Owner, and no such notice shall be deemed given to Owner unless and until a copy of such notice shall have been so delivered to other applicable Obligor or in Lender. Lender shall have the right to remedy, 's own name) may perform them or cause to be remedied, any default by Owner under the Lease, and, for such purpose Tenant grants Lender such additional period of time as may be reasonable to enable Lender to remedy, or cause to be remedied, any such default in addition to the period given to Owner for remedying, or causing to be remedied, any such default. Tenant shall accept performance by Lender of any covenant or condition them to be performed for Borrower's account and at Borrower's expense, but shall have no obligation to perform any of them or cause them to be performed. Any and all expenses thus incurred or paid by Owner under the Lease with the same force and effect as though performed by Owner. No default by Landlord under the Lease shall exist or Lender shall be deemed Borrower's obligations to exist (a) so long as LenderLender due and payable on demand, in good faithand each shall bear interest from the date Lender pays it until the date Borrower repays it to Lender at the Default Rate. Upon making any such payment or incurring any such expense, shall have commenced to cure such default within the above-referenced time period and Lender shall be prosecuting the same fully and automatically subrogated to completion with reasonable diligence, subject to force majeure, or (b) if possession all of the Premises is required in order rights of the person, corporation or body politic receiving such payment. Any amounts owing by Borrower to cure such default, Lender pursuant to this or if such default is not susceptible any other provision of being cured by Lender, so long as Lender, in good faith, shall have notified Tenant that Lender intends to institute enforcement proceedings under the Security Documents, and, thereafter, so long as such proceedings shall have been instituted and this Agreement shall be prosecuted with reasonable diligencesecured by all Security Dcouments. The amount and nature of any such expense and the time when it was paid shall be fully established by the affidavit of Lender shall have the right, without notice to Tenant or Tenant’s consent, to foreclose the Mortgage any of Lender's officers or to accept a deed in lieu of foreclosure agents. The exercise of the Mortgage privileges granted to Lender in this Section shall in no event be considered or otherwise realize upon constitute a cure of the Mortgage default or a waiver of Lender's right at any time after an Event of Default that is then continuing to exercise any declare the Note to be at once due and payable, but is cumulative of such right and of all other remedies under rights given by this Agreement, the Security Note and the Credit Documents or state and of all rights given Lender by law. Table of Contents.

Lender’s Right to Cure. Tenant With respect to any default or breach by DEVELOPER under this Agreement, CITY shall deliver provide written notice (a “Cure Period Expiration Notice”) to Lender a copy Lender, promptly upon expiration of any notice of any default(s) by landlord under the Lease DEVELOPER’s cure period set forth in Section 9, specifying the same manner as, and whenever, Tenant shall give any such notice to Owner, and no such notice shall be deemed given to Owner unless and until a copy nature of such notice shall have default or breach and stating that DEVELOPER’s period of time within which to cure such default or breach has expired without a cure having been so delivered to Lendereffectuated. Lender shall have the right to remedycure such default within thirty (30) days after the date of the Cure Period Expiration Notice; provided, or cause however, if such default is susceptible to cure but cannot reasonably be remediedcured within such thirty (30) day period and if curative action shall be commenced within such thirty (30) day period and is being continuously and diligently pursued by Lender, any default by Owner under the Lease, and, for such purpose Tenant grants then Lender such shall be given an additional period of time as may be reasonable is reasonably necessary for Lender in the exercise of due diligence to enable Lender to remedy, or cause to be remedied, any such default in addition to the period given to Owner for remedying, or causing to be remedied, any cure such default. Tenant shall accept performance by Without limiting the foregoing, if it is necessary for Lender of any covenant or condition to be performed by Owner under the Lease with the same force and effect as though performed by Owner. No default by Landlord under the Lease shall exist or shall be deemed to exist (a) so long as Lender, in good faith, shall have commenced to cure such default within the above-referenced time period and shall be prosecuting the same to completion with reasonable diligence, subject to force majeure, or (b) if obtain possession of the Premises is required Property in order to cure such default, or if such default is not susceptible of being cured by Lender, so long as Lender, in good faith, shall have notified Tenant that Lender intends to institute enforcement proceedings under the Security Documents, and, thereafter, so long as such proceedings shall have been instituted and shall be prosecuted with reasonable diligence. Lender shall have such additional period of time as is reasonably necessary for the right, without notice Lender in the exercise of reasonable diligence to Tenant or Tenant’s consent, to foreclose the Mortgage or to accept a deed in lieu of foreclosure obtain possession of the Mortgage or otherwise realize upon Property, and such additional time as is reasonably necessary for the Mortgage or Lender in the exercise of reasonable diligence to exercise cure the default. Such action shall not entitle a Lender to any other remedies funds to be disbursed pursuant to the Proposition 1C Grant Agreement and this Agreement unless such Lender shall agree in writing to perform all obligations of DEVELOPER hereunder under the Security Documents terms of an assumption agreement between Lender and CITY. Notwithstanding the foregoing, Lender’s cure period may be shorter or state law. Table longer as proscribed by HCD if the default notice was issued by CITY to DEVELOPER in reliance on a written default determination issued by HCD under the terms of Contentsthe Proposition 1C Grant Agreement and the HCD Covenants.