Non-Performance of Other Covenants and Obligations. The Borrower shall default in the due performance and observance of any other agreement contained herein or in any other Loan Document executed by it, and such default shall continue unremedied for a period of thirty (30) days after written notice thereof shall have been given to the Borrower by the Administrative Agent or the Required Lenders; provided, however, that if such default is susceptible of cure but cannot reasonably be cured within such 30 day period and the Borrower shall have commenced to cure such default within such 30 day period and is working in good faith to cure the same, such 30 day period shall be extended for up to an additional thirty (30) days.
Appears in 4 contracts
Samples: Credit Agreement (Strategic Hotels & Resorts, Inc), Credit Agreement (Strategic Hotels & Resorts, Inc), Credit Agreement (Strategic Hotel Capital Inc)
Non-Performance of Other Covenants and Obligations. The Subject to the provisions of Section 1.5, either Borrower shall default in the due performance and observance of any other agreement contained herein or in any other Loan Document executed by it, and such default shall continue unremedied for a period of thirty (30) 30 days after written the earlier to occur of (i) notice thereof shall have been given to the either Borrower by the Administrative Agent or any Lender or (ii) the Required Lendersdate on which either Borrower has knowledge of such default; provided, however, that if such default is susceptible of cure but cannot reasonably be cured within during such 30 day period period, the Borrowers are proceeding with diligence and the Borrower shall have commenced to cure such default within such 30 day period and is working in good faith to cure such default, the same, such 30 day cure period shall be extended for up to by an additional thirty (30) days-day period.
Appears in 2 contracts
Samples: Credit Agreement (Aei), Credit Agreement (Aei)
Non-Performance of Other Covenants and Obligations. The Borrower or any Borrowing Base Ownership Entity shall default in the due performance and observance of any other agreement contained herein or in any other Loan Document executed by it, and such default shall continue unremedied for a period of thirty (30) days after written notice thereof shall have been given to the Borrower by the Administrative Agent or the Required Lenders; provided, however, that if such default is susceptible of cure but cannot reasonably be cured within such 30 thirty (30) day period and the Borrower shall have commenced to cure such default within such 30 thirty (30) day period and is working in good faith to cure the same, such 30 thirty (30) day period shall be extended for up to an additional thirty (30) days.
Appears in 2 contracts
Samples: Credit Agreement (Strategic Hotels & Resorts, Inc), Credit Agreement (Strategic Hotels & Resorts, Inc)
Non-Performance of Other Covenants and Obligations. The Borrower shall default in the due performance and observance of any other agreement contained herein or in any other Loan Document executed by it, and such default shall continue unremedied for a period of thirty (30) 30 days after written notice thereof shall have been given to the Borrower by the Administrative Agent or the Required Lenders; provided, however, that if such default is susceptible of cure but cannot reasonably be cured within such 30 day period and the Borrower shall have commenced to cure such default within such 30 day period and is working in good faith to cure the same, such 30 day period shall be extended for up to an additional thirty (30) 30 days.
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