Common use of Limitation of Cure Periods Clause in Contracts

Limitation of Cure Periods. In the event that there shall occur any Default that affects only certain Unencumbered Property or the owner(s) thereof (including, without limitation, the imposition of a Lien not permitted under this Agreement), or if any Default shall occur in any covenant contained in Section 9.1(b) through Section 9.1(h), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower may elect to cure such Default by electing to remove such Unencumbered Property from the Unencumbered Pool and reduce the outstanding Loans or by substituting for such Unencumbered Property additional Unencumbered Property consisting of Eligible Real Estate for the Unencumbered Property to which such Default relates (provided that the value of such Unencumbered Property is such that after acceptance thereof, the Borrower is in compliance with the Unencumbered Property requirements), in which event such actions shall be completed within five (5) Business Days following the expiration of the initial five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends to provide additional or substitute Unencumbered Property). The Borrower’s notice of its election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects to add additional or substitute Unencumbered Property and fails within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower shall elect to cure any Default in any covenant contained in Section 9.1(b) through Section 9.1(h), by providing additional Unencumbered Property to the Unencumbered Pool, the Real Estate to be added to the Unencumbered Pool shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above, all conditions in this Agreement to the acceptance of such Real Estate to the Unencumbered Pool shall have been satisfied.

Limitation of Cure Periods. Upon the occurrence of a Default the following provisions shall apply: (a) In the event that there shall occur any Default under Section 10.1(c), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrowers may elect to cure such Default by providing additional Unencumbered Property consisting of Potential Unencumbered Property, and/or to reduce the outstanding Loans to it, in which event such actions shall be completed within such five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrowers intend to provide additional Unencumbered Property). The Borrowers’ notice of their election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrowers’ cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrowers elect to add additional Unencumbered Property and fail within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrowers shall elect under Section 10.2(a) to provide additional Unencumbered Property consisting of Potential Unencumbered Property, the Real Estate to be added to the Unencumbered Property shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrowers’ expense and provided to the Agent for the benefit of the Lenders and all other conditions to the acceptance of such Real Estate as a Unencumbered Property shall have been satisfied. (b) In the event that there shall occur any Default that affects only certain Unencumbered Property or the owner(s) thereof (including, without limitation, the imposition of a Lien not permitted under this Agreement), or if any Default shall occur in any covenant contained in Section 9.1(b) through Section 9.1(h9.1(j), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower Borrowers may elect to cure such Default by electing to remove such Unencumbered Property from the Unencumbered Pool and reduce the outstanding Loans or by substituting for such Unencumbered Property additional Unencumbered Property consisting of Eligible Real Estate Potential Unencumbered Property for the Unencumbered Property to which such Default relates (provided that the value of such Unencumbered Property Replacement is such that after acceptance thereof, the Borrower is Borrowers are in compliance with the Unencumbered Property requirements), in which event such actions shall be completed within five (5) Business Days following the expiration of the initial five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends Borrowers intend to provide additional or substitute Unencumbered Property). The Borrower’s Borrowers’ notice of its their election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s Borrowers’ cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects Borrowers elect to add additional or substitute Unencumbered Property and fails fail within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower Borrowers shall elect to cure any Default in any covenant contained in Section 9.1(b) through Section 9.1(h9.1(j), by providing additional Unencumbered Property to the consisting of Potential Unencumbered PoolProperty, the Real Estate to be added to the Unencumbered Pool Property shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above, each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrowers’ expense and provided to the Agent for the benefit of the Lenders and all other conditions in this Agreement to the acceptance of such Real Estate to the as an Unencumbered Pool Property shall have been satisfied.

Limitation of Cure Periods. (a) In the event that there shall occur any Default under §12.1(c), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower may elect to cure such Default by providing additional Borrowing Base Property consisting of Potential Borrowing Base Property, and/or to reduce the outstanding Loans to it, in which event such actions shall be completed within such five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends to provide additional Borrowing Base Property). The Borrower’s notice of its election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects to add additional Borrowing Base Property and fails within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower shall elect under §12.2(a) to provide additional Borrowing Base Property consisting of Potential Borrowing Base Property, the Real Estate to be added to the Borrowing Base Property shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrower’s expense and provided to the Agent for the benefit of the Lenders and all other conditions to the acceptance of such Real Estate as a Borrowing Base Property shall have been satisfied. (b) In the event that there shall occur any Default that affects only certain Unencumbered Borrowing Base Property or the owner(s) thereof (including, without limitation, the imposition of a Lien not permitted under this Agreement)thereof, or if any Default shall occur in any covenant contained in Section 9.1(b) § 9.3 through Section 9.1(h)§ 9.11, then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower may elect to cure such Default by electing to remove such Unencumbered Borrowing Base Property from the Unencumbered Pool Borrowing Base and reduce the outstanding Loans or by substituting for such Unencumbered Borrowing Base Property additional Unencumbered Borrowing Base Property consisting of Eligible Real Estate Potential Borrowing Base Property for the Unencumbered Borrowing Base Property to which such Default relates (provided that the value of such Unencumbered Borrowing Base Property Replacement is such that after acceptance thereof, the Borrower is in compliance with the Unencumbered Property Borrowing Base requirements), in which event such actions shall be completed within five (5) Business Days following the expiration of the initial five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends to provide additional or substitute Unencumbered Borrowing Base Property). The Borrower’s notice of its election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects to add additional or substitute Unencumbered Borrowing Base Property and fails within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower shall elect to cure any Default in any covenant contained in Section 9.1(b) §9.3 through Section 9.1(h)§9.11, by providing additional Unencumbered Borrowing Base Property to the Unencumbered Poolconsisting of Potential Borrowing Base Property, the Real Estate to be added to the Unencumbered Pool Borrowing Base Property shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above, each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrower’s expense and provided to the Agent for the benefit of the Lenders and all other conditions in this Agreement to the acceptance of such Real Estate to the Unencumbered Pool as a Borrowing Base Property shall have been satisfied.

Limitation of Cure Periods. In the event that there shall occur any Default that affects only certain Unencumbered Property or the owner(s) thereof (including, without limitation, the imposition of a Lien not permitted under this Agreement), or if any Default shall occur in any covenant contained in Section 9.1(b) through Section 9.1(h), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower may elect to cure such Default by electing to remove such Unencumbered Property from the Unencumbered Pool and reduce the outstanding Loans or by substituting for such Unencumbered Property additional Unencumbered Property consisting of Eligible Real Estate for the Unencumbered Property to which such Default relates (provided that the value of such Unencumbered Property is such that after acceptance thereof, the Borrower is in compliance with the Unencumbered Property requirements), in which event such actions shall be completed within five (5) Business Days following the expiration of the initial five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends to provide additional or substitute Unencumbered Property). The Borrower’s notice of its election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects to add additional or substitute Unencumbered Property and fails within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower shall elect to cure any Default in any covenant contained in Section 9.1(b) through Section 9.1(h), by providing additional Unencumbered Property to the Unencumbered Pool, the Real Estate to be added to the Unencumbered Pool shall be consisting of Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above, all conditions in this Agreement to the acceptance of such Real Estate to the Unencumbered Pool shall have been satisfiedEstate.

Limitation of Cure Periods. (a) In the event that there shall occur any Default that affects only certain Unencumbered Property or the owner(s) thereof (including, without limitation, the imposition of a Lien not permitted Non-Advance Condition under this Agreement), or if any Default shall occur in any covenant contained in Section 9.1(b) through Section 9.1(hss.12.1(c), then within five (5) Business Days after receipt of notice of such Default Non-Advance Condition from the Agent or the Required Lenders, Lenders the Borrower may elect to cure such Default Non-Advance Condition by providing additional Collateral consisting of Potential Collateral, and/or to reduce the outstanding Loans to it, in which event such actions shall be completed within such five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends to provide additional Mortgaged Property). The Borrower's notice of its election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower's cure period shall immediately terminate and such Non-Advance Condition shall become an Event of Default. In the event that Borrower elects to add additional Mortgaged Property and fails within the time provided herein, the cure period shall terminate and such Non-Advance Condition immediately shall constitute an Event of Default. In the event that the Borrower shall elect under ss.12.2 (a) to provide additional Collateral consisting of Potential Collateral, the Real Estate to be added to the Collateral shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrower's expense and provided to the Agent for the benefit of the Lenders and all other conditions to the acceptance of such Real Estate as a Mortgaged Property shall have been satisfied. (b) In the event that there shall occur any Non-Advance Condition that affects only certain Mortgaged Property or the owner(s) thereof (if such owner is a Guarantor), then within five (5) Business Days after receipt of notice of such Non-Advance Condition from the Agent or the Required Lenders the Borrower may elect to cure such Non-Advance Condition by electing to remove such Unencumbered Mortgaged Property from the Unencumbered Pool Credit Event Maximum Outstanding Amount and the Borrowing Base and reduce the outstanding Loans by the amount of the Credit Event Maximum Outstanding Amount attributable to such Mortgaged Property, or by substituting for such Unencumbered Mortgaged Property additional Unencumbered Property Collateral consisting of Eligible Real Estate Potential Collateral for the Unencumbered Property Collateral to which such Default Non-Advance Condition relates (provided that the value of such Unencumbered Property Collateral Replacement is such that after acceptance thereof, the Borrower Loan is in compliance with the Unencumbered Property Credit Event Maximum Outstanding Amount and the Borrowing Base requirements), in which event such actions shall be completed within five (5) Business Days following the expiration of the initial five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends to provide additional or substitute Unencumbered Mortgaged Property). The Borrower’s 's notice of its election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s 's cure period shall immediately terminate and such Default Non-Advance Condition shall become an Event of Default. In the event that Borrower elects to add additional or substitute Unencumbered Mortgaged Property and fails within the time provided herein, the cure period shall terminate and such Default Non-Advance Condition immediately shall constitute an Event of Default. In the event that the Borrower shall elect to cure any Default Non-Advance Condition in any covenant contained in Section 9.1(b) ss.9.2 through Section 9.1(h)ss.9.7, by providing additional Unencumbered Property to the Unencumbered PoolCollateral consisting of Potential Collateral, the Real Estate to be added to the Unencumbered Pool Collateral shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above, above each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrower's expense and provided to the Agent for the benefit of the Lenders and all other conditions in this Agreement to the acceptance of such Real Estate to the Unencumbered Pool as a Mortgaged Property shall have been satisfied.

Limitation of Cure Periods. Upon the occurrence of a Default the following provisions shall apply: (a) In the event that there shall occur any Default under Section 10.1(c), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrowers may elect to cure such Default by providing additional Unencumbered Property consisting of Potential Unencumbered Property, and/or to reduce the outstanding Loans to it, in which event such actions shall be completed within such five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrowers intend to provide additional Unencumbered Property). The Borrowers’ notice of their election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrowers’ cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrowers elect to add additional Unencumbered Property and fail within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrowers shall elect under Section 10.2(a) to provide additional Unencumbered Property consisting of Potential Unencumbered Property, the Real Estate to be added to the Unencumbered Property shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrowers’ expense and provided to the Agent for the benefit of the Lenders and all other conditions to the acceptance of such Real Estate as a Unencumbered Property shall have been satisfied. (b) In the event that there shall occur any Default that affects only certain Unencumbered Property or the owner(s) thereof (including, without limitation, the imposition of a Lien not permitted under this Agreement), or if any Default shall occur in any covenant contained in Section 9.1(b) through Section 9.1(h9.1(k), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower Borrowers may elect to cure such Default by electing to remove such Unencumbered Property from the Unencumbered Pool and reduce the outstanding Loans or by substituting for such Unencumbered Property additional Unencumbered Property consisting of Eligible Real Estate Potential Unencumbered Property for the Unencumbered Property to which such Default relates (provided that the value of such Unencumbered Property Replacement is such that after acceptance thereof, the Borrower is Borrowers are in compliance with the Unencumbered Property requirements), in which event such actions shall be completed within five (5) Business Days following the expiration of the initial five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends Borrowers intend to provide additional or substitute Unencumbered Property). The Borrower’s Borrowers’ notice of its their election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s Borrowers’ cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects Borrowers elect to add additional or substitute Unencumbered Property and fails fail within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower Borrowers shall elect to cure any Default in any covenant contained in Section 9.1(b) through Section 9.1(h9.1(k), by providing additional Unencumbered Property to the consisting of Potential Unencumbered PoolProperty, the Real Estate to be added to the Unencumbered Pool Property shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above, each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrowers’ expense and provided to the Agent for the benefit of the Lenders and all other conditions in this Agreement to the acceptance of such Real Estate to the as an Unencumbered Pool Property shall have been satisfied.

Limitation of Cure Periods. (a) In the event that there shall occur any Default under §12.1(d), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower may elect to cure such Default by providing additional Borrowing Base Asset consisting of Potential Borrowing Base Asset, and/or to reduce the outstanding Loans to it, in which event such actions shall be completed within such five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends to provide additional Borrowing Base Asset). The Borrower’s notice of its election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects to add additional Borrowing Base Asset and fails within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower shall elect under §12.2(a) to provide additional Borrowing Base Asset consisting of Potential Borrowing Base Asset, the Real Estate to be added to the Borrowing Base Asset shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrower’s expense and provided to the Agent for the benefit of the Lenders and all other conditions to the acceptance of such Real Estate as a Borrowing Base Asset shall have been satisfied. (b) In the event that there shall occur any Default that affects only certain Unencumbered Property Borrowing Base Asset or the owner(s) thereof (including, without limitation, the imposition of a Lien not permitted under this Agreement)thereof, or if any Default shall occur in any covenant contained in Section 9.1(b) § 9.3 through Section 9.1(h)§ 9.11, then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower may elect to cure such Default by electing to remove such Unencumbered Property Borrowing Base Asset from the Unencumbered Pool Borrowing Base and reduce the outstanding Loans or by substituting for such Unencumbered Property Borrowing Base Asset additional Unencumbered Property Borrowing Base Asset consisting of Eligible Real Estate Potential Borrowing Base Asset for the Unencumbered Property Borrowing Base Asset to which such Default relates (provided that the value of such Unencumbered Property Borrowing Base Asset Replacement is such that after acceptance thereof, the Borrower is in compliance with the Unencumbered Property Borrowing Base requirements), in which event such actions shall be completed within five (5) Business Days following the expiration of the initial five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends to provide additional or substitute Unencumbered PropertyBorrowing Base Asset). The Borrower’s notice of its election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects to add additional or substitute Unencumbered Property Borrowing Base Asset and fails within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower shall elect to cure any Default in any covenant contained in Section 9.1(b) §9.3 through Section 9.1(h)§9.11, by providing additional Unencumbered Property to the Unencumbered PoolBorrowing Base Asset consisting of Potential Borrowing Base Asset, the Real Estate to be added to the Unencumbered Pool Borrowing Base Asset shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above, each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrower’s expense and provided to the Agent for the benefit of the Lenders and all other conditions in this Agreement to the acceptance of such Real Estate to the Unencumbered Pool as a Borrowing Base Asset shall have been satisfied.

Limitation of Cure Periods. (a) In the event that there shall occur any Default under ss.12.1(c), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower may elect to cure such Default by providing additional Borrowing Base Property consisting of Potential Borrowing Base Property, and/or to reduce the outstanding Loans to it, in which event such actions shall be completed within such five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends to provide additional Borrowing Base Property). The Borrower's notice of its election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower's cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects to add additional Borrowing Base Property and fails within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower shall elect under ss.12.2 (a) to provide additional Borrowing Base Property consisting of Potential Borrowing Base Property, the Real Estate to be added to the Borrowing Base Property shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrower's expense and provided to the Agent for the benefit of the Lenders and all other conditions to the acceptance of such Real Estate as a Borrowing Base Property shall have been satisfied. (b) In the event that there shall occur any Default that affects only certain Unencumbered Borrowing Base Property or the owner(s) thereof (including, without limitation, the imposition of a Lien not permitted under this Agreement)thereof, or if any Default shall occur in any covenant contained in Section 9.1(b) ss. 9.3 through Section 9.1(h)ss. 9.11, then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower may elect to cure such Default by electing to remove such Unencumbered Borrowing Base Property from the Unencumbered Pool Borrowing Base and reduce the outstanding Loans or by substituting for such Unencumbered Borrowing Base Property additional Unencumbered Borrowing Base Property consisting of Eligible Real Estate Potential Borrowing Base Property for the Unencumbered Borrowing Base Property to which such Default relates (provided that the value of such Unencumbered Borrowing Base Property Replacement is such that after acceptance thereof, the Borrower is in compliance with the Unencumbered Property Borrowing Base requirements), in which event such actions shall be completed within five (5) Business Days following the expiration of the initial five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends to provide additional or substitute Unencumbered Borrowing Base Property). The Borrower’s 's notice of its election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s 's cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects to add additional or substitute Unencumbered Borrowing Base Property and fails within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower shall elect to cure any Default in any covenant contained in Section 9.1(b) ss.9.3 through Section 9.1(h)ss.9.11, by providing additional Unencumbered Borrowing Base Property to the Unencumbered Poolconsisting of Potential Borrowing Base Property, the Real Estate to be added to the Unencumbered Pool Borrowing Base Property shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above, each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrower's expense and provided to the Agent for the benefit of the Lenders and all other conditions in this Agreement to the acceptance of such Real Estate to the Unencumbered Pool as a Borrowing Base Property shall have been satisfied.

Limitation of Cure Periods. (a) In the event that there shall occur any Default under ss.12.1(c), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, (a) to provide additional Collateral consisting of Potential Collateral, the Real Estate to be added to the Collateral shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrower's expense and provided to the Agent for the benefit of the Lenders and all other conditions to the acceptance of such Real Estate as a Mortgaged Property shall have been satisfied. (b) In the event that there shall occur any Default that affects only certain Unencumbered Mortgaged Property or the owner(s) thereof (including, without limitation, the imposition of if such owner is a Lien not permitted under this Agreement), or if any Default shall occur in any covenant contained in Section 9.1(b) through Section 9.1(hGuarantor), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower may elect to cure such Default by electing to remove such Unencumbered Mortgaged Property from the Unencumbered Pool Borrowing Base and reduce the outstanding Loans or OR by substituting for such Unencumbered Mortgaged Property additional Unencumbered Property Collateral consisting of Eligible Real Estate Potential Collateral for the Unencumbered Property Collateral to which such Default relates (provided that PROVIDED THAT the value of such Unencumbered Property Collateral Replacement is such that after acceptance thereof, the Borrower is in compliance with the Unencumbered Property Borrowing Base requirements), in which event such actions shall be completed within five (5) Business Days following the expiration of the initial five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends to provide additional or substitute Unencumbered Mortgaged Property). The Borrower’s 's notice of its election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s 's cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects to add additional or substitute Unencumbered Mortgaged Property and fails within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower shall elect to cure any Default in any covenant contained in Section 9.1(b) ss.9.2 through Section 9.1(h)ss.9.9, by providing additional Unencumbered Property to the Unencumbered PoolCollateral consisting of PotentiaL Collateral, the Real Estate to be added to the Unencumbered Pool Collateral shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above, above each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrower's expense and provided to the Agent for the benefit of the Lenders and all other conditions in this Agreement to the acceptance of such Real Estate to the Unencumbered Pool as a Mortgaged Property shall have been satisfied.

Limitation of Cure Periods. Upon the occurrence of a Default the following provisions shall apply: (a) In the event that there shall occur any Default under Section 10.1(c), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrowers may elect to cure such Default by providing additional Unencumbered Property consisting of Potential Unencumbered Property, and/or to reduce the outstanding Loans to it, in which event such actions shall be completed within such five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrowers intend to provide additional Unencumbered Property). The Borrowers’ notice of their election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrowers’ cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrowers elect to add additional Unencumbered Property and fail within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrowers shall elect under Section 10.2(a) to provide additional Unencumbered Property consisting of Potential Unencumbered Property, the Real Estate to be added to the Unencumbered Property shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrowers’ expense and provided to the Agent for the benefit of the Lenders and all other conditions to the acceptance of such Real Estate as an Unencumbered Property shall have been satisfied. (b) In the event that there shall occur any Default that affects only certain Unencumbered Property or the owner(s) thereof (including, without limitation, the imposition of a Lien not permitted under this Agreement), or if any Default shall occur in any covenant contained in Section 9.1(b) through Section 9.1(h9.1(j), then within five (5) Business Days after receipt of notice of such Default from the Agent or the Required Lenders, the Borrower Borrowers may elect to cure such Default by electing to remove such Unencumbered Property from the Unencumbered Pool and reduce the outstanding Loans or by substituting for such Unencumbered Property additional Unencumbered Property consisting of Eligible Real Estate Potential Unencumbered Property for the Unencumbered Property to which such Default relates (provided that the value of such Unencumbered Property Replacement is such that after acceptance thereof, the Borrower is Borrowers are in compliance with the Unencumbered Property requirements), in which event such actions shall be completed within five (5) Business Days following the expiration of the initial five (5) Business Day period (or within thirty (30) days following the expiration of the initial five (5) Business Day period in the event that the Borrower intends Borrowers intend to provide additional or substitute Unencumbered Property). The Borrower’s Borrowers’ notice of its their election pursuant to the preceding sentence shall be delivered to the Agent within the period of five (5) Business Days provided above, and if not so delivered Borrower’s Borrowers’ cure period shall immediately terminate and such Default shall become an Event of Default. In the event that Borrower elects Borrowers elect to add additional or substitute Unencumbered Property and fails fail within the time provided herein, the cure period shall terminate and such Default immediately shall constitute an Event of Default. In the event that the Borrower Borrowers shall elect to cure any Default in any covenant contained in Section 9.1(b) through Section 9.1(h9.1(j), by providing additional Unencumbered Property to the consisting of Potential Unencumbered PoolProperty, the Real Estate to be added to the Unencumbered Pool Property shall be Eligible Real Estate and on or prior to the expiration of the thirty (30) day period referred to above, each of the Eligible Real Estate Qualification Documents shall have been completed at the Borrowers’ expense and provided to the Agent for the benefit of the Lenders and all other conditions in this Agreement to the acceptance of such Real Estate to the as an Unencumbered Pool Property shall have been satisfied.