Common use of Right To Cure Mortgagor’s Failure to Perform Clause in Contracts

Right To Cure Mortgagor’s Failure to Perform. Prior to the occurrence of an Event of Default upon five days' notice to Mortgagor (except in the case of an emergency), or after the occurrence of an Event of Default at any time and without notice, should Mortgagor fail in the payment, performance or observance of any term, covenant or condition required by this Mortgage, the Credit Agreement or the Tranche A Exchange Note Purchase Agreements (with respect to the Mortgaged Property), Mortgagee may pay, perform or observe the same, and all payments made or costs or expenses incurred by Mortgagee in connection therewith shall be secured hereby and shall be, without demand, immediately repaid by Mortgagor to Mortgagee with interest thereon at the Default Rate. Mortgagee shall be the judge of the necessity for any such actions and of the amounts to be paid. Subject to the notice provisions of the first sentence of this paragraph 2.04, Mortgagee is hereby empowered to enter and to authorize others to enter upon the Premises or the Improvements or any part thereof for the purpose of performing or observing any such defaulted term, covenant or condition without having any obligation to so perform or observe and without thereby becoming liable to Mortgagor, to any person in possession holding under Mortgagor or to any other person.

Right To Cure Mortgagor’s Failure to Perform. Prior to the occurrence of an Event of Default upon five days' notice to Mortgagor (except in the case of an emergency), or after the occurrence of an Event of Default at any time and without notice, should Should Mortgagor fail in the payment, performance or observance of any term, covenant or condition required by this Mortgage, the Credit Agreement Mortgage or the Tranche A Exchange Note Purchase Agreements Loan Documents (with respect to the Mortgaged Property), Mortgagee may pay, perform or observe the same, and all payments made or costs or expenses incurred by Mortgagee in connection therewith shall be secured hereby and shall be, without demand, immediately repaid by Mortgagor to Mortgagee with interest thereon at the Default Interest Rate. Mortgagee shall be the judge using reasonable discretion of the necessity for any such actions and of the amounts to be paid. Subject to the notice provisions of the first sentence of this paragraph 2.04, Mortgagee is hereby empowered to enter and to authorize others to enter upon the Premises or the Improvements or any part thereof for the purpose of performing or observing any such defaulted term, covenant or condition without having any obligation to so perform or observe and without thereby becoming liable to Mortgagor, to any person in possession holding under Mortgagor or to any other person; provided, however, that except in the case of an emergency, Mortgagee will provide reasonable advance notice of such entry, such entry shall be conducted in a reasonable manner and Mortgagee shall use reasonable efforts to endeavor to minimize the amount of disturbance to the Mortgagor’s possession of the Mortgaged Property.

Right To Cure Mortgagor’s Failure to Perform. Prior to the occurrence of an Event of Default upon five days' notice to Mortgagor (except in the case of an emergency), or after the occurrence of an Event of Default at any time and without notice, should Should Mortgagor fail in the payment, performance or observance of any term, covenant or condition required by set forth in this Mortgage, Mortgage or the Senior Credit Agreement or the Tranche A Exchange Note Purchase Agreements (with respect to the Mortgaged Property) for 10 days after notice of such failure from Mortgagee (in the case of a monetary default) or 20 days after notice of such failure from Mortgagee (in the case of a non-monetary default), Mortgagee may pay, perform or observe the same, and all payments made or costs or expenses incurred by Mortgagee in connection therewith shall be secured hereby and shall be, without demand, immediately be repaid by Mortgagor to Mortgagee with interest thereon at the Default RateInterest Rate from the date incurred within 10 days after demand made by Mortgagee. Mortgagee shall be the judge using reasonable discretion of the necessity for any such actions and of the amounts to be paid. Subject to the notice provisions of the first sentence of this paragraph 2.04, Mortgagee is hereby empowered to enter and to authorize others to enter upon the Premises or the Improvements or any part thereof for the purpose of performing or observing any such defaulted term, covenant or condition without having any obligation to so perform or observe and without thereby becoming liable to Mortgagor, to any person in possession holding under Mortgagor or to any other person.

Right To Cure Mortgagor’s Failure to Perform. Prior to the occurrence of an Event of Default upon five days' notice to Mortgagor (except in the case of an emergency), or after the occurrence of an Event of Default at any time and without notice, should Should Mortgagor fail in the payment, performance or observance of any term, covenant or condition required by this Mortgage, the Credit Agreement or the Tranche A Exchange Note Purchase Agreements (with respect to the Mortgaged Property) set forth in this Second Priority Mortgage or under the Senior Loan Documents or the Second Priority Debt Documents for 10 days after notice of such failure from Mortgagee (in the case of a monetary default) or 20 days after notice of such failure from Mortgagee (in the case of a non-monetary default), Mortgagee may pay, perform or observe the same, and all payments made or costs or expenses incurred by Mortgagee in connection therewith shall be secured hereby and shall be, without demand, immediately be repaid by Mortgagor to Mortgagee with interest thereon at the Default RateInterest Rate from the date incurred within 10 days after demand made by Mortgagee. Mortgagee shall be the judge using reasonable discretion of the necessity for any such actions and of the amounts to be paid. Subject to the notice provisions of the first sentence of this paragraph 2.04Collateral Trust and Intercreditor Agreement, Mortgagee is hereby empowered to enter and to authorize others to enter upon the Premises or the Improvements or any part thereof for the purpose of performing or observing any such defaulted term, covenant or condition without having any obligation to so perform or observe and without thereby becoming liable to Mortgagor, to any person in possession holding under Mortgagor or to any other person.