Common use of Notice, Cure Period Clause in Contracts

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF NoteAgreement, including the obligations enumerated in this Section 28.01 above, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default Event of Default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. The Limited Partner shall have the right, but not the obligation, to cure an Event of Default within the same cure periods as the Borrower.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. The Limited Partner may, but shall not be obligated to, cure any default on behalf of, and on the same terms as, the Borrower.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF NoteAgreement, including the obligations enumerated in this Section 28.01 above, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default Event of Default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF NoteAgreement, including the obligations enumerated in this Section 28.01 above, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default Event of Default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. The Limited Partners shall have the right, but not the obligation, to cure an Event of Default within the same cure periods as the Borrower.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF NoteAgreement, including the obligations enumerated in this Section 28.01 above, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default Event of Default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. The LIHTC Limited Partner shall have the right, but not the obligation, to cure an Event of Default within the same cure periods as the Borrower.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF NoteAgreement, including the obligations enumerated in this Section 28.01, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. Notwithstanding the foregoing, the Investor Limited Partners shall have the right, but not the obligation, to cure an Event of Default within the same cure periods as the Borrower.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF CDBG Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. The Limited Partner may, but shall not be obligated to, cure any default on behalf of, and on the same terms as, the Borrower.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF Amended and Restated Promissory Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. The Borrower’s Special Limited Partner shall have the right but not the obligation to cure any Event of Default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF Acquisition Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF NoteAgreement, including the obligations enumerated in this Section 28.01, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. Notwithstanding the foregoing, the Investor Member or its successors shall have the right, but not the obligation, to cure an Event of Default within the same cure period as the Borrower.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF CDBG Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower Xxxxxxxx commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. The Investor Members may, but shall not be obligated, to cure any default on behalf of the Borrower.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF NoteAgreement, including the obligations enumerated in this Section 28.01 above, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default Event of Default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. The Members shall have the right, but not the obligation, to cure an Event of Default within the same cure periods as the Borrower.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF NoteAgreement, including the obligations enumerated in this Section 27.01, no default shall mature into an “Event of Default” and the County Board shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County Board shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF CHDO HOME Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower Xxxxxxxx commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF Amended and Restated Density Loan Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF NoteAgreement, including the obligations enumerated in this Section 28.01 above, no default shall mature into an “Event of Default” and the County Board shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County Board shall have given written notice of the default Event of Default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF NoteAgreement, including the obligations enumerated in this Section 28.01 above, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default Event of Default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower Xxxxxxxx commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. The LIHTC Limited Partner may, but shall not be obligated to, cure any default on behalf of, and on the same terms as, the Borrower.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this Amended and Restated AHIF Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF NoteAgreement, including the obligations enumerated in this Section 28.01, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower Xxxxxxxx commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. Notwithstanding the foregoing, the Investor Member or its successors shall have the right, but not the obligation, to cure an Event of Default within the same cure period as the Borrower.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF Amended and Restated Base Loan Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default.

Notice, Cure Period. Unless a shorter cure period is specified for a default in the performance of any term, provision, covenant or agreement contained in this AHIF Note, including the obligations enumerated in this Section 2, no default shall mature into an “Event of Default” and the County shall not exercise any right or remedy on account thereof unless the default continues for ten (10) days in the event of a monetary default or sixty (60) days in the event of a nonmonetary default after the date upon which the County shall have given written notice of the default to the Borrower; provided, however, if the nonmonetary default is of a nature that cannot be cured within sixty (60) days, an Event of Default shall not arise hereunder if Borrower commences to cure the default within sixty (60) days and thereafter prosecutes the curing of such default with due diligence and in good faith to completion and in no event later than one hundred twenty (120) days after receipt of notice of the default. The Investor Members may, but shall not be obligated, to cure any default on behalf of the Borrower.