Notice of Default; Cure Rights Sample Clauses

Notice of Default; Cure Rights. If during any Periodic Review, the City reasonably concludes on the basis of substantial evidence that Developer has not demonstrated that it is in good faith compliance with this Agreement, then the City may issue and deliver to Developer a written “Notice of Default” pursuant to Section 11.1.1 below, and Developer shall have the opportunity to cure such default pursuant to Section 11.1.2.
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Notice of Default; Cure Rights. Landlord hereby agrees explicitly on Tenant's behalf (A) to concurrently provide a copy of all default notices, if any, to Tenant under the Lease to Sublessee at Sublessee's address set forth in the Sublease or such other address as Sublessee may provide to Landlord in writing in accordance with the notice provisions set forth in the Lease and (B) that Sublessee shall have the same period as afforded to Tenant under the Lease to cure any default by Tenant, which shall run concurrently with Tenant's cure period(s). In the event Sublessee elects to cure a monetary event of default by Tenant under the Lease, Landlord agrees it will accept such payment directly from Sublessee on behalf of Tenant.
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Notice of Default; Cure Rights. If the Project Company defaults in the performance of any of its obligations under the Lease, Landlord will give written notice of such default to the Lender upon giving notice to the Project Company and shall grant the Lender the opportunity to cure such default within the greater of (a) thirty (30) days of such notice or (b) five business days following the end of the applicable cure period provided to Project Company in the Lease; provided, however, that with respect to non-payment defaults, such cure period may be extended by no more than an additional ninety (90) day period if the Lender has commenced and is diligently pursuing appropriate action to cure such non-monetary default; provided further, that (a) if possession of the Solar Project is necessary to cure such non-monetary default and the Lender has commenced proceedings to obtain possession of the Solar Project, Lender shall be allowed a reasonable time to complete such proceedings, and (b) if Lender is prohibited from curing any such non-monetary default by any process, stay or injunction issued by any governmental authority or pursuant to any Bankruptcy or insolvency proceeding or other similar proceeding involving Project Company, then the time periods specified herein for curing a non-monetary default shall be extended for the period of such prohibition. For any non-payment defaults that are by their nature not susceptible of cure by the Lender using good faith diligent efforts, the Lender shall be deemed to have cured such defaults if it commences, within the cure periods noted above, and thereafter diligently prosecutes to completion such actions as are necessary for the Lender (or another Subsequent Owner) to gain ownership and control of the Solar Project.
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Notice of Default; Cure Rights. (a) Each Consenting Party will deliver to the Agent, promptly upon delivery thereof to any Credit Party, duplicates or copies of all notices of breach or default delivered by or on behalf of such Consenting Party to any Credit Party under or pursuant to any MLP Intercompany Agreement. Each Consenting Party shall not terminate any MLP Intercompany Agreement on account of any breach or default thereunder without giving notice to the Agent and first providing to the Agent the opportunity to effect within a reasonable period, but not more than 15 days in the case of a payment breach or default and not more than 60 days in the case of any other breach or default, a cure of such breach or default. (b) The Agent shall have the right, but not the obligation, to pay all sums due under any MLP Intercompany Agreement and to perform any other act or duty required of any Credit Party thereunder or necessary and proper to prevent termination of such MLP Intercompany Agreement. In the event the Agent so elects to make such payment or perform such duties, neither the Agent nor any Lender or other Secured Party shall have personal liability to any Consenting Party for the payment or performance of the obligations of such Credit Party under such MLP Intercompany Agreement. Notwithstanding any provision of this Agreement to the contrary, none of the obligations under any MLP Intercompany Agreement shall be personal obligations of the Agent or its designees or of any Lender or any other Secured Party, and no Consenting Party shall have any recourse to the Agent or its designees or to any Lender or any other Secured Party for the performance of any obligations under any MLP Intercompany Agreement. Nothing herein shall require the Agent to cure any breach or default under any MLP Intercompany Agreement, but shall only give it the option to do so. (c) If the Agent or its designees is prohibited by any order or injunction issued by any court or other Governmental Authority or by reason of any action in connection with a bankruptcy or insolvency proceeding involving any Credit Party from curing any breach or default under any MLP Intercompany Agreement or from commencing foreclosure or other appropriate proceedings, the times specified in Section 2.03(a) for curing such breach or default shall be extended by the period of such prohibition.
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Notice of Default; Cure Rights. In the event Assignee defaults in the performance of its obligations under the Lease (including, without limitation, the payment of monthly base rent or other amounts due) during the period between the Effective Date and March 31, 1999, Landlord may not exercise any of its remedies under the Lease unless (i) Landlord notifies Assignor in accordance with the notice provisions set forth hereinbelow of such default and (ii) Assignor fails to cure such default within thirty (30) days after receiving such notice.
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Related to Notice of Default; Cure Rights

  • Notice of Default, etc Promptly after the Borrower knows that any Default or any Material Adverse Effect has occurred, a notice of such Default or Material Adverse Effect, describing the same in reasonable detail and the action the Borrower proposes to take with respect thereto.

  • Notice of Defaults If a Default occurs and is continuing and if it is known to a Responsible Officer of the Indenture Trustee, the Indenture Trustee shall mail to each Noteholder notice of the Default within 90 days after it occurs. Except in the case of a Default in payment of principal of or interest on any Note (including payments pursuant to the mandatory redemption provisions of such Note), the Indenture Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Noteholders.

  • Cure Right In the event that Holdings fails to comply with the requirements of the financial covenant set forth in Section 7.03(a) or 7.03(b), during the period from the date that is 60 days prior to and until the expiration of the 10th Business Days after the date on which financial statements are required to be delivered with respect to the applicable fiscal quarter hereunder, Holdings shall have the right to (a) issue Permitted Cure Equity for cash or otherwise receive cash contributions to the capital of Holdings or (b) incur Additional Second Lien Indebtedness, and to have all of such cash contributions and Additional Second Lien Indebtedness deemed, for purposes of said Sections, to be both Revenue and EBITDA for such fiscal quarter (and for the avoidance of doubt, only for such fiscal quarter), including for purposes of calculating compliance with such Sections as of the last day of any subsequent fiscal quarter (the “Cure Right”); provided that (i) such proceeds are actually received by Holdings during the period from the date that is 60 days prior to and until the expiration of the 10th Business Days after the date on which financial statements are required to be delivered with respect to such fiscal quarter hereunder, (ii) the Cure Right shall not be exercised more than five (5) times during the term of the Loans, (iii) the Cure Right shall not be exercised in consecutive fiscal quarters, (iv) such proceeds shall be applied to prepay the Loans in accordance with Section 2.06(c)(v) and (v) each such Permitted Cure Equity or Additional Second Lien Indebtedness shall be designated at the time of issuance or incurrence for application under the “Cure Right” pursuant to this Section 9.02. If, after giving effect to the treatment of such cash contributions or Additional Second Lien Indebtedness as Revenue and EBITDA, Holdings is in compliance with the financial covenant set forth in Sections 7.03(a) and 7.03(b), Holdings shall be deemed to have satisfied the requirements of each such Section as of the relevant date of determination with the same effect as though there had been no failure to comply on such date, and the applicable breach or default of such Section 7.03(a) and/or Section 7.03(b) that had occurred shall be deemed cured for purposes of this Agreement. The parties hereby acknowledge that this Section may not be relied on for purposes of calculating any financial ratios other than as applicable to Sections 7.03(a) and 7.03(b).

  • Right to Cure Defaults Upon the occurrence of any Event of Default or if Borrower fails to make any payment or to do any act as herein provided, Lender may, but without any obligation to do so and without notice to or demand on Borrower and without releasing Borrower from any obligation hereunder, make or do the same in such manner and to such extent as Lender may deem necessary to protect the security hereof. Lender is authorized to enter upon the Property for such purposes, or appear in, defend, or bring any action or proceeding to protect its interest in the Property or to foreclose this Security Instrument or collect the Debt. The cost and expense of any cure hereunder (including reasonable attorneys' fees to the extent permitted by law), with interest as provided in this Section 11.3, shall constitute a portion of the Debt and shall be due and payable to Lender upon demand. All such costs and expenses incurred by Lender in remedying such Event of Default or such failed payment or act or in appearing in, defending, or bringing any such action or proceeding shall bear interest at the Default Rate (as defined in the Note), for the period after notice from Lender that such cost or expense was incurred to the date of payment to Lender. All such costs and expenses incurred by Lender together with interest thereon calculated at the Default Rate shall be deemed to constitute a portion of the Debt and be secured by this Security Instrument and the Other Security Documents and shall be immediately due and payable upon demand by Lender therefor.

  • Notice of Event of Default If the Mortgagee shall have Actual Knowledge of an Event of Default or of a Default arising from a failure to pay Rent, the Mortgagee shall give prompt written notice thereof to the Owner Trustee, the Owner Participant, Lessee, and each Note Holder. Subject to the terms of Sections 2.13, 4.03, 4.04, 4.08, 5.02 and 5.03 hereof, the Mortgagee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Mortgagee shall be instructed in writing by a Majority in Interest of Note Holders. Subject to the provisions of Section 5.03, if the Mortgagee shall not have received instructions as above provided within 20 days after mailing notice of such Event of Default to the Note Holders, the Mortgagee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 5.01, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect to such Event of Default or Default as it shall determine advisable in the best interests of the Note Holders; PROVIDED, HOWEVER, that the Mortgagee may not sell the Aircraft or any Engine without the consent of a Majority in Interest of Note Holders. For all purposes of this Trust Indenture, in the absence of Actual Knowledge on the part of the Mortgagee, the Owner Trustee or the Owner Participant, the Mortgagee, the Owner Trustee or the Owner Participant, as the case may be, shall not be deemed to have knowledge of a Default or an Event of Default (except, in the case of the Mortgagee, the failure of Lessee to pay any installment of Basic Rent within one Business Day after the same shall become due, if any portion of such installment was then required to be paid to the Mortgagee, which failure shall constitute knowledge of a Default) unless notified in writing by Lessee, the Owner Trustee, the Owner Participant or one or more Note Holders.

  • Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default known to the Guarantee Trustee, transmit by mail, first class postage prepaid, to the Holders, notice of any such Event of Default known to the Guarantee Trustee, unless such Event of Default has been cured before the giving of such notice, provided that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders. (b) The Guarantee Trustee shall not be deemed to have knowledge of any Event of Default unless the Guarantee Trustee shall have received written notice, or a Responsible Officer charged with the administration of this Guarantee Agreement shall have obtained written notice, of such Event of Default.

  • Notice of Default or Event of Default promptly, and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

  • Events of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Capital Securities and the Guarantor, notices of all Events of Default actually known to a Responsible Officer of the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, however, that the Guarantee Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Capital Securities. (b) The Guarantee Trustee shall not be deemed to have knowledge of any Event of Default unless the Guarantee Trustee shall have received written notice from the Guarantor or a Holder of the Capital Securities (except in the case of a payment default), or a Responsible Officer of the Guarantee Trustee charged with the administration of this Guarantee shall have obtained actual knowledge thereof.

  • Default Notice As soon as possible and in any event within two days after the occurrence of each Default or any event, development or occurrence reasonably likely to have a Material Adverse Effect continuing on the date of such statement, a statement of the chief financial officer of the Borrower setting forth details of such Default and the action that the Borrower has taken and proposes to take with respect thereto.

  • Notice of Default The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless the Administrative Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders); provided that unless and until the Administrative Agent shall have received such directions, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders.

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