Common use of Notice of Certain Defaults; Opportunity to Cure Such Defaults Clause in Contracts

Notice of Certain Defaults; Opportunity to Cure Such Defaults. Notwithstanding anything to the contrary in this Master Indenture, no default under Section 13.1(a)(4) will constitute an Event of Default until actual notice of the default is given to NVTC by the Trustee or by the Owners of not less than 25% in aggregate principal amount of all Outstanding Bonds, and NVTC has had (i) 30 days after receipt of the notice with respect to any default in the payment of money or (ii) 90 days after receipt of the notice of any other default to correct the default or to cause the default to be corrected; provided, however, that if the default can be corrected, but cannot within the applicable period, it will not constitute an Event of Default if corrective action is instituted by NVTC within the applicable period and diligently pursued (as determined by the Trustee) until the default is corrected.

Notice of Certain Defaults; Opportunity to Cure Such Defaults. Notwithstanding anything to the contrary in this Master Indenture, no default under Section 13.1(a)(4) will constitute an Event of Default until actual notice of the default is given to NVTC HRTAC by the Trustee or by the Owners of not less than 25% in aggregate principal amount of all Outstanding Bonds, and NVTC HRTAC has had (i) 30 days after receipt of the notice with respect to any default in the payment of money or (ii) 90 days after receipt of the notice of any other default to correct the default or to cause the default to be corrected; provided, however, that if the default can be corrected, but cannot within the applicable 90-day period, it will not constitute an Event of Default if corrective action is instituted by NVTC HRTAC within the applicable 90-day period and diligently pursued (as determined by the Trustee) until the default is corrected.

Notice of Certain Defaults; Opportunity to Cure Such Defaults. Notwithstanding anything Anything in this Indenture to the contrary in this Master Indenturenotwithstanding, no default under subsection (c) of Section 13.1(a)(4) 11.1 will constitute an Event of Default until actual notice of the default is given to NVTC the Authority by the Trustee or by the Owners of not less than 25% twenty-five percent in aggregate principal amount of all Outstanding Bonds, and NVTC the Authority has had (i) 30 days after receipt of the notice with respect to any default in the payment of money or (ii) 90 days after receipt of the notice of any other default to correct the default or to cause the default to be corrected; provided, however, that if the Authority shall certify in writing to the Trustee that the default can be corrected, but cannot be corrected within the applicable period, it will not constitute an Event of Default if corrective action is instituted by NVTC the Authority within the applicable period and diligently pursued (as determined by the Trustee) until the default is corrected.