Right of Mortgagee to Cure. Any lender for whom notice has been given pursuant to Section 14.2 shall have the same right to cure a default as Owner. The deadline for a lender to cure a default shall commence with the giving of a notice of default to that lender, rather than pursuant to notice sent to Owner.
Right of Mortgagee to Cure. Any Mortgagee shall have the right, but not the obligation, to cure any failure or default by Developer during the cure period allowed Developer under this Agreement, plus an additional sixty (60) days in order to cure such failure or default. Any Mortgagee that undertakes to cure or attempt to cure any such failure or default shall provide written notice to City that it is undertaking efforts of such a nature, provided that no initiation of any such efforts by a Mortgagee shall obligate such Mortgagee to complete or succeed in any such curative efforts.
Right of Mortgagee to Cure. Any Mortgagee shall have the right, but not the obligation, to cure any failure or default by Developers during the cure period allowed Developers under this Development Agreement, plus an additional 60 days if, in order to cure such failure or default, it is necessary for the Mortgagee to obtain possession of the property such as by seeking the appointment of a receiver or other legal process. Any Mortgagee that undertakes to cure or attempt to cure any such failure or default shall provide written notice to City that it is undertaking efforts of such a nature; provided that no initiation of any such efforts by a Mortgagee shall obligate such Mortgagee to complete or succeed in any such curative efforts.
Right of Mortgagee to Cure. If City timely receives a written request from a Mortgagee requesting a copy of any notice of default given to Developer under the terms of this Agreement, City shall provide a copy of that notice to the Mortgagee within fifteen (15) days of: (i) the date the notice of default was sent to Developer, or (ii) the date of receipt of Mortgagee’s request, whichever is later. The Mortgagee shall have the right, but not the obligation, to cure the default during the remaining cure period permitted under this Agreement, plus an additional sixty (60) calendar days if, in order to cure such default, it is necessary for the Mortgagee to obtain legal possession of the Project Site or any portion thereof (e.g. seeking the appointment of a receiver); provided, however, that during the cure period permitted under this Agreement, City receives from Mortgagee written notice stating the need to obtain legal possession of the Project Site or any portion thereof.
Right of Mortgagee to Cure. Notwithstanding any default by Tenant under this Lease, Landlord shall have no right to terminate or cancel this Lease unless Landlord shall have given each Mortgagee notice of such default pursuant to Section 10.1 of this Lease and such Mortgagee fails to remedy such default or acquire Tenant’s Estate or enter into other appropriate proceedings as set forth in, and within the time specified by, this Section.
Right of Mortgagee to Cure. With respect to any default under the Promissory Note or Trust Deed, any Mortgagee shall rely on its cure rights or right to payoff the Promissory Note under applicable law relating to the foreclosure of the Trust Deed, and shall have no other notice or cure rights. Any Mortgagee have the right, but not the obligation, to cure any other failure or default by Developer during the cure period allowed Developer under this Agreement (provided, such lender shall receive a day by day extension to such cure period for each day a notice of default is not delivered to Mortgagee in accordance with Section 15(b)), plus an additional one hundred twenty (120) days in order to cure such failure or default, if it is reasonably necessary for the Mortgagee to obtain possession of the property to cure, such as by seeking the appointment of a receiver or other legal process. Any Mortgagee that undertakes to cure or attempt to cure any such failure or default shall provide written notice to the City that it is undertaking efforts of such a nature; provided that no initiation of any such efforts by a Mortgagee shall obligate such Mortgagee to complete or succeed in any such curative efforts.
