Common use of NOTICE OF DEFAULT AND LENDER'S CURE RIGHTS Clause in Contracts

NOTICE OF DEFAULT AND LENDER'S CURE RIGHTS. If Irvine shall give any notice of default or breach under this Agreement, then Irvine shall (provided that Irvine has received notice of a Financing Encumbrance pursuant to Section 13.3) at the same time and by the same means give a copy of such notice to the Lender, which notice shall describe in reasonable detail the alleged default. Upon receiving any notice of a default, any Lender shall have the same cure period granted to FirstWorld under this Agreement, plus (so long as such Lender is not an Affiliated Lender) the additional time provided for below, within which to take (if such Lender so elects) whichever of the actions set forth below shall apply with respect to the default described in such notice of default (such actions, "Lender's Cure," and a Lender's rights to take such actions, "Lender's Cure Rights"):

NOTICE OF DEFAULT AND LENDER'S CURE RIGHTS. If Irvine shall give any notice of default or breach under this Agreement, then Irvine shall (provided that Irvine has received notice of a Financing Encumbrance pursuant to Section 13.311.3 hereof) at the same time and by the same means give a copy of such notice to the Lender, which notice shall describe in reasonable detail the alleged default. Upon receiving any notice of a default, any Lender shall have the same cure period granted to FirstWorld under this Agreement, plus (so long as such Lender is not an Affiliated Lender) the additional time provided for below, within which to take (if such Lender so elects) whichever of the actions set forth below shall apply with respect to the default described in such notice of default (such actions, "Lender's Cure," and a Lender's rights to take such actions, "Lender's Cure Rights"):