Common use of Monetary and Performance Defaults Clause in Contracts

Monetary and Performance Defaults. (A) Failure to make any payment due under the Note or any note evidencing a Future Advance, other than the final payment and Prepayment Premium, or to make any payment due under this Mortgage to Mortgagee or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth day after such payment is due; or (B) Failure to make the final payment or the Prepayment Premium due under the Note or any note evidencing a Future Advance when such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise (the defaults in (A) and (B) hereinafter "Monetary Default"); or (C) Breach or default in any of the covenants or agreements contained in Section 1.13 of this Mortgage; or (D) Breach or default in the performance of any of the other covenants or agreements of Mortgagor contained herein or in any Related Agreement ("Performance Default"), if such Performance Default shall continue for fifteen (15) days or more after written notice to Mortgagor from Mortgagee specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the fifteen (15) day period, then Mortgagor shall not be in default if it commences good faith efforts to cure the Performance Default within the fifteen (15) day period, demonstrates continuous diligent efforts to cure the Performance Default in a manner satisfactory to Mortgagee and, within a reasonable period, not to exceed 180 days after original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one which is defined as an Event of Default elsewhere in this Article II or in the default definition of any Related Agreement, then Mortgagor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default.

Monetary and Performance Defaults. (A) Failure to make any payment due under any one or more of the Note or any note evidencing a Future Advance, other than the final payment and Prepayment Premium, or to make any payment due under this Mortgage to Mortgagee or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth fourth (4th) day after such payment is due; or (B) Failure to make the final payment or the Prepayment Premium due under any one or more of the Note or any note evidencing a Future Advance when such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise (the defaults in (A) and (B) hereinafter "Monetary Default"); or (C) Breach or default in any of the covenants or agreements contained in Section 1.13 of this Mortgage; or (D) Breach or default in the performance of any of the other covenants or agreements of Mortgagor contained herein or in any Related Agreement ("Performance Default"), if such Performance Default shall continue for fifteen thirty (1530) days or more after written notice to Mortgagor from Mortgagee specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the fifteen thirty (1530) day period, then Mortgagor shall not be in default if it commences good faith efforts to cure the Performance Default within the fifteen thirty (1530) day period, demonstrates continuous diligent efforts to cure the Performance Default in a manner reasonably satisfactory to Mortgagee and, within a reasonable period, not to exceed 180 one hundred eighty (180) days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one which is defined as an Event of Default elsewhere in this Article II or in the default definition of any Related Agreement, then Mortgagor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default.

Monetary and Performance Defaults. (A) Failure to make any payment due under the any one or more of Note A or Note B or any note evidencing a Future Advance, other than the final payment and Prepayment Premium, or to make any payment due under this Mortgage Deed of Trust to Mortgagee Beneficiary or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth fourth (4th) day after such payment is due; or (B) Failure to make the final payment or the Prepayment Premium due under the any one or more of Note A or Note B or any note evidencing a Future Advance when such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise (the defaults in (A) and (B) hereinafter "Monetary Default"); or (C) Breach or default in the performance of any of the covenants or agreements of Grantor contained herein, in Section 1.13 any one or more of this Mortgage; or (D) Breach Note A or default in the performance of any of the other covenants or agreements of Mortgagor contained herein Note B or in any Related Agreement ("Performance Default"), if such Performance Default shall continue for fifteen thirty (1530) days or more after written notice to Mortgagor Grantor from Mortgagee Beneficiary specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the fifteen thirty (1530) day period, then Mortgagor Grantor shall not be in default if it commences good faith efforts to cure the Performance Default within the fifteen thirty (1530) day period, demonstrates continuous diligent efforts to cure the Performance Default in a manner reasonably satisfactory to Mortgagee Beneficiary and, within a reasonable period, not to exceed 180 one hundred eighty (180) days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one which is defined as an Event of Default elsewhere in this Article II or in the default definition of any Related Agreement, then Mortgagor Grantor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default.

Monetary and Performance Defaults. (A) Failure to make any payment due under any one or more of the XXXX Note or the AIC Note or any note evidencing a Future Advance, other than the final payment and Prepayment Premium, or to make any payment due under this Mortgage to Mortgagee or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth fourth (4th) day after such payment is due; or (B) Failure to make the final payment or the Prepayment Premium due under any one or more of the XXXX Note or the AIC Note or any note evidencing a Future Advance when such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise (the defaults in (A) and (B) hereinafter "Monetary Default"); or (C) Breach or default in the performance of any of the covenants or agreements contained in Section 1.13 of this Mortgage; or (D) Breach or default in the performance of any of the other covenants or agreements of Mortgagor contained herein herein, in any one or more of the XXXX Note or the AIC Note or in any Related Agreement ("Performance Default"), if such Performance Default shall continue for fifteen thirty (1530) days or more after written notice to Mortgagor from Mortgagee specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the fifteen thirty (1530) day period, then Mortgagor shall not be in default if it commences good faith efforts to cure the Performance Default within the fifteen thirty (1530) day period, demonstrates continuous diligent efforts to cure the Performance Default in a manner reasonably satisfactory to Mortgagee and, within a reasonable period, not to exceed 180 one hundred eighty (180) days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one which is defined as an Event of Default elsewhere in this Article II or in the default definition of any Related Agreement, then Mortgagor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default.

Monetary and Performance Defaults. (A) Failure to make any payment due under the Note or any note evidencing a Future Advance, other than the final payment and Prepayment PremiumPremium (which is governed by subsection 2.01 (B) hereunder), on or before the fourth day after such payment is due, or failure to make any payment due under this Mortgage to Mortgagee or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth day after date that any such payment is due; or, or failure to pay any insurance premiums related to the Property in full at least five (5) business days prior to the date any then current policies of insurance are scheduled to lapse; (B) Failure to make the final payment or the Prepayment Premium due under the Note or any note evidencing a Future Advance when such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise (the defaults in (A) and (B) of this section 2.01, hereinafter "“Monetary Default"”); or (C) Breach or default in any of the covenants or agreements contained in Section 1.13 of this Mortgage; or (D) Breach or default in the performance of any of the other covenants or agreements of Mortgagor contained herein or in any Related Agreement ("“Performance Default"”), if such Performance Default shall continue for fifteen thirty (1530) days or more after written notice to Mortgagor from Mortgagee specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the fifteen thirty (1530) day period, then Mortgagor shall not be in default if it commences good faith efforts to cure the Performance Default within the fifteen thirty (1530) day period, demonstrates continuous diligent efforts to cure the Performance Default in a manner satisfactory to Mortgagee and, within a reasonable period, not to exceed 180 days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one which is defined as an Event of Default elsewhere in this Article II or in the default definition of any Related Agreement, then Mortgagor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default.

Monetary and Performance Defaults. (A) Failure to make any payment due under the Note or any note evidencing a Future Advance, other than the final payment and Prepayment Premium, or to make any payment due under this Mortgage to Mortgagee or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth fourth (4th) day after such payment is due; or (B) Failure to make the final payment or the Prepayment Premium due under the Note or any note evidencing a Future Advance when such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise (the defaults in (A) and (B) hereinafter "“Monetary Default"”); or (C) Breach or default in the performance of any of the covenants or agreements contained in Section 1.13 of this Mortgage; or (D) Breach or default in the performance of any of the other covenants or agreements of Mortgagor contained herein herein, in the Note or in any Related Agreement ("“Performance Default"”), if such Performance Default shall continue for fifteen thirty (1530) days or more after written notice to Mortgagor from Mortgagee specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the fifteen thirty (1530) day period, then Mortgagor shall not be in default if it commences good faith efforts to cure the Performance Default within the fifteen thirty (1530) day period, demonstrates continuous diligent efforts to cure the Performance Default in a manner reasonably satisfactory to Mortgagee and, within a reasonable period, not to exceed 180 one hundred eighty (180) days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one which is defined as an Event of Default elsewhere in this Article II or in the default definition of any Related Agreement, then Mortgagor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default.

Monetary and Performance Defaults. (A) Failure to make any payment due under either of the Note Notes or any note evidencing a Future Advance, other than the final payment and Prepayment Premium, or to make any payment due under this Mortgage Deed of Trust to Mortgagee Beneficiary or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth fourth day after such payment is due; or, (B) Failure to make the final payment or the Prepayment Premium due under either of the Note Notes or any note evidencing a Future Advance when such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise (the defaults in (A) and (B) hereinafter "“Monetary Default"”); or (C) Breach or default in the performance of any of the covenants or agreements contained in Section 1.13 of this Mortgage; or (D) Breach or default in the performance of any of the other covenants or agreements of Mortgagor Trustor contained herein or in any Related Agreement ("“Performance Default"”), if such Performance Default shall continue for fifteen (15) days or more after written notice to Mortgagor Trustor from Mortgagee Beneficiary specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the fifteen (15) 15 day period, then Mortgagor Trustor shall not be in default if it commences good faith efforts to cure the Performance Default within the fifteen (15) 15 day period, demonstrates continuous diligent efforts to cure the Performance Default in a manner satisfactory to Mortgagee Beneficiary and, within a reasonable period, not to exceed 180 days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one which is defined as an Event of Default elsewhere in this Article II or in the default definition of any Related Agreement, then Mortgagor Trustor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default.