Right to Cure Certain Lease Events of Default Sample Clauses

Right to Cure Certain Lease Events of Default. (a) If the Facility Lessee shall fail to make any payment of Periodic Rent due on any Rent Payment Date when the same shall have become due, and if such failure of the Facility Lessee to make such payment of Periodic Rent shall not constitute the fourth consecutive such failure or the eighth cumulative failure of the Facility Lessee, then the Owner Lessor may (but need not) pay to the Indenture Trustee, at any time prior to the expiration of ten (10) Business Days after the Owner Lessor and the Owner Participant shall have received notice from the Indenture Trustee or have Actual Knowledge of the failure of the Facility Lessee to make such payment of Periodic Rent, an amount equal to the principal of, Make-Whole Amount, if any, and interest on the Lessor Notes, then due (otherwise than by declaration of acceleration) on such Rent Payment Date, together with any interest due thereon on account of the delayed payment thereof, and such payment by the Owner Lessor shall be deemed (for purposes of this Indenture) to have cured any Lease Indenture Event of Default which arose or would have arisen from such failure of the Facility Lessee.
Sample 1Sample 2Sample 3See All (12)
AutoNDA by SimpleDocs
Right to Cure Certain Lease Events of Default. (a) If Lessee shall fail to make any Lease Payment when the same shall have become due, and if such failure of Lessee to make such Lease Payment shall not constitute the third consecutive such failure, then Lessor, any Tranche B Lender or Tranche B Lenders (the "Curing Party") may (but is not obligated to) pay to Collateral Agent for the benefit of Secured Parties, at any time prior to the earlier of the expiration of ten (10) Business Days after the Curing Party shall have received notice from Administrative Agent of the failure of Lessee to make such Lease Payment, an amount equal to the Lease Payment or Lease Payments then due by reason of the failure of Lessee to pay such Lease Payment (otherwise than by declaration of acceleration) on such Payment Date, and such payment by the Curing Party shall be deemed to have cured any Loan Event of Default which arose or would have arisen from such failure of Lessee.
Sample 1Sample 2See All (4)
Right to Cure Certain Lease Events of Default. (a) If Lessee shall fail to make any payment of Basic Rent due on any Rent Payment Date when the same shall have become due, and if such failure of the Lessee to make such payment of Basic Rent shall not constitute the third consecutive such failure or the sixth cumulative failure, then Owner Trustee may (but need not) pay to Indenture Trustee, at any time prior to the expiration of ten (10) Business Days after Owner Trustee and Owner Participant shall have received notice from Indenture Trustee or have actual knowledge of the failure of Lessee to make such payment of Basic Rent, an amount equal to the principal of, premium, if any, and interest on the Notes, then due (otherwise than by declaration of acceleration) on such Rent Payment Date, together with any interest due thereon on account of the delayed payment thereof, and such payment by Owner Trustee shall be deemed (for purposes of this Indenture) to have cured any Indenture Event of Default which arose or would have arisen from such failure of Lessee.
Sample 1
Right to Cure Certain Lease Events of Default. If Lessee shall fail to make any Lease Payment or Availability Fee due on any Payment Date when the same shall have become due, and if such failure of Lessee to make such Lease Payment or Availability Fee shall not constitute the third consecutive such failure, then Lessor, any Lender, Lenders, Certificate Holder or Certificate Holders (the "Curing Party") may (but is not obligated to) pay to the Collateral Agent for the benefit of the Lenders, at any time prior to the earlier of the expiration of ten (10) Business Days after the Curing Party shall have received notice from the Administrative Agent of the failure of Lessee to make such Lease Payment or Availability Fee, an amount equal to the principal of and interest on the Notes then due by reason of the failure of Lessee to pay such Lease Payment or Availability Fee (otherwise than by declaration of acceleration) on such Payment Date, and such payment by the Curing Party shall be deemed to have cured any Loan Event of Default which arose or would have arisen from such failure of Lessee. If Lessee shall fail to make any Supplemental Payment when the same shall become due, or otherwise fail to perform any of its obligations (other than the payment of a Lease Payment under the Lease Agreement) under any Operative Document to which it is a party, which failure shall continue until such time as such failure shall constitute a Lease Event of Default upon notice to Lessee and can be cured by the payment of money, then a Curing Party may (but is not obligated to) make such payment or perform such obligation through the payment of money at any time prior to the expiration of ten (10) Business Days after such Curing Party shall have received notice of the occurrence of any such failure, and such payment or performance by such Curing Party shall be deemed to have cured any Loan Event of Default which arose or would have arise from such failure of Lessee. Upon such payment or performance by a Curing Party who is a Lender or a Certificate Holder, such Curing Party shall (to the extent of such payment made by it and the costs and expenses incurred in connection with such payments and performance thereof together with interest thereon) be subrogated to the rights of, in the case of a Curing Party who is a Lender, the other Lenders and, in the case of a Curing Party who is a Certificate Holder, the other Certificate Holders, to receive from Lessee the Lease Payment or Supplemental Payment, as the case may be, paid by s...
Sample 1
Right to Cure Certain Lease Events of Default. (a) If the Lessee shall fail to make any payment of Basic Rent due on any Rent Payment Date when the same shall have become due, and if such failure of the Lessee to
Sample 1

Related to Right to Cure Certain Lease Events of Default

  • Events of Default Rights and Remedies on Default 10.1 Events of Default 10.2 Acceleration of the Obligations

  • Notification of Defaults and Events of Default Each Lender hereby agrees that, upon learning of the existence of a Default or an Event of Default, it shall promptly notify the Administrative Agent thereof. The Administrative Agent hereby agrees that upon receipt of any notice under this §14.10 it shall promptly notify the other Lenders of the existence of such Default or Event of Default.

  • Lease Events of Default The following events shall constitute Lease Events of Default hereunder (whether any such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body) and each such Lease Event of Default shall be deemed to exist and continue so long as, but only as long as, it shall not have been remedied:

  • Events of Default Remedies on Default Events of Default . Each of the following shall be an "Event of Default" if it occurs for any reason whatsoever, whether voluntary or involuntary, by operation of law or otherwise:

  • Waiver of Events of Default The Holders representing at least 66% of the Voting Rights affected by a default or Event of Default hereunder may waive such default or Event of Default; provided, however, that (a) a default or Event of Default under clause (i) of Section 7.01 may be waived only by all of the Holders of Certificates affected by such default or Event of Default and (b) no waiver pursuant to this Section 7.04 shall affect the Holders of Certificates in the manner set forth in Section 11.01(b)(i) or (ii). Upon any such waiver of a default or Event of Default by the Holders representing the requisite percentage of Voting Rights affected by such default or Event of Default, such default or Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon except to the extent expressly so waived.

  • Right to Cure Defaults Upon the occurrence and during the continuance 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 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 or to foreclose this Security Instrument or collect the Debt, and the cost and expense thereof (including reasonable attorneys’ fees to the extent permitted by law), with interest as provided in this Section 7.3, 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 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.

  • 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.

  • Waiver of Defaults and Events of Default (a) The Noteholders of a majority of the Note Balance of the Controlling Class may waive any Default or Event of Default, except an Event of Default (i) in the payment of principal of or interest on any of the Notes (other than an Event of Default relating to failure to pay principal due only by reason of acceleration) or (ii) in respect of a covenant or provision of this Indenture that cannot be amended, supplemented or modified without the consent of all Noteholders.

  • Events of Default Rights and Remedies Section 7.1 Events of Default Section 7.2 Rights and Remedies Section 7.3 Certain Notices

Time is Money Join Law Insider Premium to draft better contracts faster.