Common use of Notice and Cure Rights Clause in Contracts

Notice and Cure Rights. The Mortgage Lender hereby agrees with and for the benefit of the Agent and the Holding Company Lenders that, when giving notice to the Mortgage Borrower with respect to a default or Event of Default under the Mortgage Loan Documents or an acceleration of the Mortgage Loan, the Mortgage Lender will also give a copy of any such notice to the Agent and, except in connection with the Mortgage Borrower's failure to repay the Mortgage Loan in full on the Scheduled Maturity Date (as defined in the Mortgage Note), the Agent and the Holding Company Lenders shall thereafter be afforded an op- portunity, prior to the acceleration of the Mortgage Loan by the Mortgage Lender, but without waiving the Event of Default, within thirty (30) days of the giving of such notice by the Mortgage Lender to the Agent, to cure curable monetary and non-monetary Events of Default under the Mortgage Loan Documents, subject, in the case of any non-monetary default that is not susceptible of being cured within such thirty (30) day period, to an extension of such thirty (30) day period provided that the cure of such non-monetary default is being diligently and continuously pursued to completion by or on behalf of the Holding Company Lenders. Throughout such thirty (30) day cure period (as the same may be extended in accordance with the immediately preceding sentence in the case of certain non-monetary defaults) and for so long as the cure of the Mortgage Borrower's default is being diligently and continuously pursued to completion by the Agent or the Holding Company Lenders, the Mortgage Lender shall forbear from acceler- ating the Mortgage Loan. In the event that the Agent or the Holding Company Lenders shall cure any Event of Default under the Mortgage Loan Documents pursuant to the cure rights granted to such parties hereunder, then the same shall constitute a Permitted Cure as defined in and contemplated by the Cash Management Agreement.

Notice and Cure Rights. The Mortgage DDA shall give the Construction Lender hereby agrees with and for the benefit of the Agent and the Holding Company Lenders thatPermanent Lender, when giving written notice to the Mortgage Borrower with respect to a default or Event of Default under the Mortgage Loan Documents or an acceleration of the Mortgage Loan, the Mortgage Lender will also give a copy of any Developer Default and such notice Construction Lender and Permanent Lender shall have the right (but not the obligation) to the Agent and, except in connection with the Mortgage Borrower's failure to repay the Mortgage Loan in full on the Scheduled Maturity Date (as defined in the Mortgage Note), the Agent and the Holding Company Lenders shall thereafter be afforded an op- portunity, prior to the acceleration of the Mortgage Loan by the Mortgage Lender, but without waiving the Event of Default, cure such Developer Default within thirty (30) days after such written notice, unless the Developer Default cannot be cured within such thirty (30) days through the exercise of good faith and due diligence (including the giving expenditure of necessary funds), in which event such notice Construction Lender or Permanent Lender shall be entitled to an additional period of time to cure as reasonably determined by the Mortgage DDA, but in no event beyond ninety (90) days, provided and so long as the Construction Lender to or Permanent Lender has diligently commenced the Agent, to cure curable monetary and non-monetary Events of Default under the Mortgage Loan Documents, subject, in the case of any non-monetary default that is not susceptible of being cured within such thirty (30) day period, to an extension completion of such the cure within thirty (30) day period provided that days was not avoidable by the exercise of due diligence, and the Construction Lender or Permanent Lender continues to prosecute the cure with due diligence and in good faith (“Lender’s Cure Right”). The DDA shall not exercise any of its remedies under this Development Agreement against the Construction Lender, Permanent Lender or Developer, during such non-monetary default is being diligently and continuously pursued to completion by cure period or on behalf if such Lender timely cures such Developer Default, but such cure period shall not restrict, limit or delay the payment or collection of the Holding Company LendersDeferred Payment or the enforcement of any rights or remedies of the r DDA against the Developer for any other Developer Default for which the Construction Lender or Permanent Lender has not exercised the Lender’s Cure Right. Throughout such thirty If requested by any Construction Lender or Permanent Lender (30) day cure period (as each a “Lender”), the same may be extended DDA agrees to negotiate in accordance good faith and upon commercially reasonable terms a so-called “tri-party” agreement with the immediately preceding sentence in Lender and Developer providing for the case of certain non-monetary defaults) and for so long as the cure relative rights of the Mortgage Borrower's default is being diligently DDA and continuously pursued such Lender with respect to completion this Agreement and the Project, including, without limitation: (a) the notice and cure provisions set forth in this Section 8.3, (b) the rights and obligations described in Section 7.5 hereof, if applicable, (c) a restriction on amendment or modification of provisions of this Development Agreement which grant specific rights or remedies to the Lender by the Agent joint action of the DDA and Developer without the prior consent in writing of the Lender, (d) the manner in which the proceeds from any insurance policies or arising from a condemnation are to be used by the Holding Company Lendersparties, and (e) such other terms as are customarily contained in similar agreements governing similar transactions, all of which shall be subject to the reasonable approval of the DDA and Developer. Notwithstanding the foregoing, in no event shall the DDA be required to enter into a tri-party agreement which: (aa) modifies or alters the Project Site Plan, the Mortgage Lender shall forbear from acceler- ating nature and scope of the Mortgage Loan. In Project, the event that components of the Agent Project and any of the obligations of the Developer under this Developer Agreement to acquire, finance and develop and construct the Project or (bb) materially and adversely limits or affects the Holding Company Lenders shall cure any Event of Default under the Mortgage Loan Documents pursuant rights and remedies available to the cure rights granted to such parties DDA hereunder, then the same shall constitute a Permitted Cure as defined in and contemplated solely determined by the Cash Management AgreementDDA, in which case the DDA shall provide the Developer with its written objections to the tri-party agreement.

Notice and Cure Rights. The Mortgage Lender hereby agrees with and for In the benefit event that Tenant ever notifies Landlord of the Agent and the Holding Company Lenders that, when giving notice to the Mortgage Borrower with respect to a default or Event of Default claimed default by Landlord under the Mortgage Loan Documents or an acceleration of the Mortgage LoanLease, the Mortgage Lender will also give Tenant shall send a copy of the written notice or a reasonably detailed written explanation of any oral notice (the “Tenant Notice”) concurrently therewith to Interim Landlord, Successor Head Landlord and Lender at the addresses set forth below and no such notice of default shall be deemed given to Landlord pursuant to the Lease unless and until such Tenant Notice has been delivered to Interim Landlord, Successor Head Landlord and to Lender. Interim Landlord, Successor Head Landlord and Lender shall be permitted (but shall have no obligation) to remedy any such notice default or claimed default specified in the Tenant Notice within an equal period of time, commencing on the date Interim Landlord, Successor Head Landlord and Lender receive or are deemed to have received such Tenant Notice, that Landlord would be permitted to remedy the same pursuant to the Agent and, except in connection with the Mortgage Borrower's failure to repay the Mortgage Loan in full on the Scheduled Maturity Date (as defined in the Mortgage Note), the Agent and the Holding Company Lenders shall thereafter be afforded an op- portunity, prior to the acceleration terms of the Mortgage Loan Lease. Notwithstanding the foregoing, Interim Landlord, Successor Head Landlord and Lender shall have a minimum of thirty (30) days after its receipt of the Tenant Notice to remedy the default or claimed default, provided, however, that if such default or claimed default cannot be remedied with reasonable diligence by the Mortgage Interim Landlord, Successor Head Landlord or Lender, but without waiving as the Event of Defaultcase may be, within thirty (30) days days, Interim Landlord, Successor Head Landlord and Lender shall have such additional time as is reasonably necessary to remedy the default with reasonable diligence and continuity. Furthermore, if a default can be reasonably remedied only if Interim Landlord, Successor Head Landlord or Lender, as the case may be, first obtains possession of the giving Property or any part thereof or if any default is not curable by Successor Head Landlord or Lender, as the case may be, Interim Landlord, Successor Head Landlord and Lender shall have any additional time as is reasonably necessary under the circumstances to obtain possession of the Property or part thereof and, if such notice default is curable by Interim Landlord, Successor Head Landlord or Lender, as the Mortgage Lender to the Agentcase may be, to cure curable monetary remedy the default with reasonable diligence and non-monetary Events of Default under the Mortgage Loan Documents, subject, in the case of any non-monetary default that is not susceptible of being cured within such thirty (30) day period, to an extension of such thirty (30) day period provided that the cure of such non-monetary default is being diligently and continuously pursued to completion by or on behalf of the Holding Company Lenders. Throughout such thirty (30) day cure period (as the same may be extended in accordance with the immediately preceding sentence in the case of certain non-monetary defaults) and for so long as the cure of the Mortgage Borrower's default is being diligently and continuously pursued to completion by the Agent or the Holding Company Lenders, the Mortgage Lender shall forbear from acceler- ating the Mortgage Loan. In the event that the Agent or the Holding Company Lenders shall cure any Event of Default under the Mortgage Loan Documents pursuant to the cure rights granted to such parties hereunder, then the same shall constitute a Permitted Cure as defined in and contemplated by the Cash Management Agreementcontinuity thereafter.

Notice and Cure Rights. The Mortgage Lender hereby Landlord shall provide any and all Leasehold Mortgagees with copies of all notices of breach or default that are delivered to Tenant contemporaneously with the furnishing of such notices to Tenant. Landlord agrees with and for the benefit of the Agent and the Holding Company Lenders that, when giving that no notice to the Mortgage Borrower with respect to a default or Event of Default given under the Mortgage Loan Documents or an acceleration of the Mortgage Loan, the Mortgage Lender will also give this Lease shall be effective against any Leasehold Mortgagee unless a copy of any has been delivered to such notice to the Agent and, except Leasehold Mortgagee in connection accordance with the Mortgage Borrower's failure terms of this Section 26.8. Landlord shall not take any action to repay the Mortgage Loan in full on the Scheduled Maturity Date terminate this Lease as a result of said default, provided (as defined in the Mortgage Note), the Agent and the Holding Company Lenders shall thereafter be afforded an op- portunity, prior to the acceleration of the Mortgage Loan by the Mortgage Lender, but without waiving the Event of Default, a) Leasehold Mortgagee commences action (within thirty sixty (3060) days of the giving receipt of such notice by the Mortgage Lender to the Agent, notice) (i) to cure curable monetary (or cause the cure) of) the default or (ii) to foreclose upon the Premises and non-monetary Events of Default under the Mortgage Loan Documents, subject, in the case of any non-monetary default that is not susceptible of being cured within (b) Leasehold Mortgagee diligently pursues such thirty (30) day period, to an extension of such thirty (30) day period provided cure or foreclosure. Landlord acknowledges and agrees that the cure of such non-monetary default is being diligently and continuously pursued to completion by certain defaults may require possession or on behalf control of the Holding Company Lenders. Throughout such thirty (30) day cure period (as Premises, and the same may be extended in accordance with the immediately preceding sentence in the case exercise of certain non-monetary defaults) rights and for so long as the cure of the Mortgage Borrower's default is being diligently and continuously pursued to completion by the Agent or the Holding Company Lenders, the Mortgage Lender shall forbear from acceler- ating the Mortgage Loan. In the event that the Agent or the Holding Company Lenders shall cure any Event of Default remedies under the Leasehold Mortgage Loan Documents shall constitute diligent action by Leasehold Mortgagee to cure the default. Any default which by its nature is incapable of being cured by Leasehold Mortgagee or any other third party who acquires title to the leasehold estate under this Lease pursuant to the cure rights granted a foreclosure sale or a deed in lieu of foreclosure shall be waived by Landlord upon such foreclosure or deed in lieu thereof. Any notice, demand, request, or other instrument given by Landlord to Leasehold Mortgagee shall be delivered to Leasehold Mortgagee at such parties hereunder, then the same shall constitute a Permitted Cure address as defined Leasehold Mortgagee may provide to Landlord in and contemplated by the Cash Management Agreementwriting from time to time.