Common use of Rights to Cure Clause in Contracts

Rights to Cure. Each Mortgagee shall have a period of sixty (60) days following its receipt of written notice of any default under this Ground Lease to cause such default to be cured, and this Ground Lease shall not be subject to cancellation unless such cure period expires without such default being cured in all material respects; provided, however, such period shall be extended so as to permit the Mortgagee to acquire possession of the Project Site for any cure which requires such possession; and provided further, this Ground Lease shall not be subject to cancellation by the District for any default, including insolvency, bankruptcy, and receivership proceedings related to the Tenant, which the Mortgagee has no reasonable means to cure so long as all rental and monetary defaults are cured within that aforesaid period. Any Mortgagee shall have the right to interplead any sums in dispute and this Ground Lease may not be canceled as a result of such interpleader.