Obligation to Cure Defaults Sample Clauses

Obligation to Cure Defaults. The representations and warranties set forth herein shall survive the sale of the Participation Interest to Participant and shall inure to the benefit of Participant notwithstanding any restrictive or qualified endorsement on any Loan or assignment of a Loan or the examination or failure to examine any Loan Document. The party discovering a breach of any of the representations and warranties shall give prompt notice of such breach to the other party. Upon receipt of such notice, Lender shall use its reasonable best efforts to promptly cure such breach in all material respects. If such breach cannot be or has not been cured within a sixty-day period following receipt of notice of breach, Lender shall, at Participant’s option, repurchase such Participation Interest, including the outstanding principal balance of the Participation Interest plus all accrued interest on such Participation Interest.
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Obligation to Cure Defaults. (a) It is understood and agreed that the representations and warranties set forth herein shall survive the contribution of the Participation Interest to Participant and shall inure to the benefit of Participant notwithstanding any restrictive or qualified endorsement on any Loan or assignment of a Loan or the examination or failure to examine any Loan Document. Upon discovery by Bank or Participant of a breach of any of the foregoing representations and warranties which has a material adverse affect on the Participation Interest taken as a whole, the party discovering such breach shall give prompt written notice of such breach to the other.
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Obligation to Cure Defaults. (a) It is understood and agreed that the representations and warranties set forth herein shall survive the contribution of the Participation Interest to Participant and shall inure to the benefit of Participant notwithstanding any restrictive or qualified endorsement on any Loan or assignment of a Loan or the examination or failure to examine any Loan Document. Upon discovery by Bank or Participant of a breach of any of the foregoing representations and warranties which has a material adverse affect on the Participation Interest taken as a whole, the party discovering such breach shall give prompt written notice of such breach to the other. (b) Bank shall, promptly after discovery of such a breach of any such representation or warranty, notify Participant of such breach and the details thereof. Within sixty days of the earlier of (i) notice by Bank pursuant to the immediately preceding sentence, or (ii) notice by Participant to Bank of any breach of a representation or warranty with respect to a Participation Interest, Bank shall use its reasonable best efforts to promptly cure such breach in all material respects. If such breach can ultimately be cured but is not reasonably expected to be cured within the sixty-day period, Bank shall have such additional time as is reasonably determined by Participant, not to exceed one hundred and twenty days, to cure or correct such breach; provided, however, that Bank has commenced curing or correcting such breach and is diligently pursuing the same. If such breach cannot be or has not been cured, Bank shall, upon the expiration of the cure period described above, at Participant’s option and subject to the provisions of this Xxxxxxx 00, xxxxxxxxxx such Participation Interest, including the outstanding principal balance of the Participation Interest plus all accrued interest on such Participation Interest. (c) Except for the indemnities provided to Participant by Bank and this Section 11, Bank shall have no further liability to Participant for any inability to Collect a Loan. Section 12.
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Obligation to Cure Defaults. Section 8.10 of the Loan Agreement is amended and restated in its entirety as follows:
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Related to Obligation to Cure Defaults

  • Right to Cure Defaults Upon the occurrence and during the continuance of any Event of Default, 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 any payment or do any act required of Borrower hereunder 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 for such purposes, and the cost and expense thereof (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 action or proceeding shall bear interest at the Default Rate, for the period after written 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 the liens, claims and security interests provided to Lender under the Loan Documents and shall be immediately due and payable upon demand by Lender therefor.

  • Landlord’s Right to Cure Defaults Landlord may, but shall not be obligated to, cure, at any time, without notice, any default by Tenant under this Lease; and whenever Landlord so elects, all costs and expenses incurred by Landlord, including reasonable attorneys’ fees, in curing a default shall be paid, as Additional Rent, by Tenant to Landlord on demand, together with lawful interest thereon from the date of payment by Landlord to the date of payment by Tenant.

  • LANDLORD'S RIGHT TO CURE DEFAULT PAYMENTS BY TENANT

  • Landlords Right to Cure Default Payments by Tenant All covenants and agreements to be kept or performed by Tenant under this Lease shall be performed by Tenant at Tenant’s sole cost and expense and without any reduction of rent. If Tenant shall fail to perform any of its obligations under this Lease, within a reasonable time after such performance is required by the terms of this Lease, Landlord may, but shall not be obligated to, after three (3) days prior written notice to Tenant, make any such payment or perform any such act on Tenant’s behalf without waiving its rights based upon any default of Tenant and without releasing Tenant from any obligations hereunder. Tenant shall pay to Landlord, within ten (10) days after delivery by Landlord to Tenant of statements therefore, an amount equal to the expenditures reasonably made by Landlord in connection with the remedying by Landlord of Tenant’s defaults pursuant to the provisions of this Section 14.

  • Event 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, notices of all Events of Default known to the Guarantee Trustee, unless such defaults have 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.

  • Defaults Remedies (a) It shall be an Event of Default:

  • Event of Default Remedies 8.1 Any one or more of the following acts or omissions of the Contractor shall constitute an event of default hereunder (“Event of Default”):

  • 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.

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