Common use of Seller Cure Right Clause in Contracts

Seller Cure Right. If the Seller fails to comply with Section 16.18(d) of this Agreement for any calendar month, then, until the expiration of the period (the “Cure Period”) commencing on the last day of any month and ending on the date occurring on the thirtieth (30th) day (the “Cure Date”) subsequent to the earlier of (x) the date that the compliance certificate for such calendar month is required to be delivered pursuant to Section 16.2(c) hereof and (y) the date that such compliance certificate for such calendar month is actually delivered to the Agent, it shall not be deemed to be a Default or Event of Default hereunder if the Seller provides notice (the “Cure Notice”) to the Agent on a date (the “Cure Notification Date”) occurring within three (3) Business Days of the earlier of the dates described in clauses (x) and (y) above (the “Cure Notification Period”) that it intends to exercise the cure right under this Section 16.18(e) (the “Cure Right) and the Seller receives from Parent an amount not less than the difference between the actual amount of the Seller’s Net Income for such month and the amount of Net Income the Seller was required to have for such month under Section 16.18(d), plus $1.00 (the “Contribution Amount”) on or prior to the Cure Date; provided that the Seller may exercise the Cure Right only one (1) time during the then-current term of this Agreement. For purposes of any Applicable Measuring Period in which a month occurs as to which the Seller exercised a cure right under this Section 16.18(e), the Contribution Amount shall be reflected in the determination of the Seller’s Net Income for such month. Notwithstanding anything in this Agreement to the contrary, any noncompliance with Section 16.18(d) of this Agreement shall not constitute a Default or an Event of Default until the earlier of (A) the day after the Cure Notification Date, if no Cure Notification has been delivered within the Cure Notification Period, and (B) the Cure Date, if the Contribution Amount has not been applied on or prior to the Cure Date as described above; provided further that, during the Cure Notification Period, and during the Cure Period if a Cure Notice has been delivered within the Cure Notification Period, the Seller shall not be permitted to request any Transactions.

Seller Cure Right. If the Seller fails to comply with Section 16.18(d17.12(d) of this Agreement for any calendar monthfiscal quarter, then, until the expiration of the period (the “Cure Period”) commencing on the last day of any month quarter and ending on the date occurring on the thirtieth (30th) day (the “Cure Date”) subsequent to the earlier of (x) the date that the compliance certificate for such calendar month fiscal quarter is required to be delivered pursuant to Section 16.2(c16.4(a) hereof and (y) the date that such compliance certificate for such calendar month fiscal quarter is actually delivered to the Agent, it shall not be deemed to be a Default or Event of Default hereunder if the Seller provides notice (the “Cure Notice”) to the Agent on a date (the “Cure Notification Date”) occurring within three (3) Business Days of the earlier of the dates described in clauses (x) and (y) above (the “Cure Notification Period”) that it intends to exercise the its cure right under this Section 16.18(e17.12(e) (the “Cure Right) and the Seller receives from the Parent an amount not less than the difference between the actual amount of the Seller’s Net Income for such month quarter and the amount of Net Income the Seller was required to have for such month quarter under Section 16.18(d17.12(d), plus $1.00 (the “Contribution Amount”) on or prior to the Cure Date; provided provided, that the Seller Borrower may exercise the Cure Right only one (1) time during the then-current term life of this Agreement. For purposes of any Applicable Measuring Period in which a month quarter occurs as to which the Seller exercised a cure right under this Section 16.18(eclause (e), the Contribution Amount shall be reflected in the determination of the Seller’s Net Income for such monthquarter. Notwithstanding anything in this Agreement to the contrary, any noncompliance with Section 16.18(d17.12(d) of this Agreement shall not constitute a Default or an Event of Default until the earlier of (A) the day after the Cure Notification Date, if no Cure Notification has been delivered within the Cure Notification Period, and (B) the Cure Date, if the Contribution Amount has not been applied on or prior to the Cure Date as described above; provided further that, that during the Cure Notification Period, and during the Cure Period if a Cure Notice has been delivered within the Cure Notification Period, the Seller shall not be permitted to request any Transactions.

Seller Cure Right. If the Seller fails to comply with Section 16.18(d) of this Agreement for any calendar month, then, until the expiration of the period (the “Cure Period”) commencing on the last day of any month and ending on the date occurring on the thirtieth (30th) day (the “Cure Date”) subsequent to the earlier of (x) the date that the compliance certificate for such calendar month is required to be delivered pursuant to Section 16.2(c) hereof and (y) the date that such compliance certificate for such calendar month is actually delivered to the Agent, it shall not be deemed to be a Default or Event of Default hereunder if the Seller provides notice (the “Cure Notice”) to the Agent on a date (the “Cure Notification Date”) occurring within three (3) Business Days of the earlier of the dates described in clauses (x) and (y) above (the “Cure Notification Period”) that it intends to exercise the cure right under this Section 16.18(e) (the “Cure Right) and the Seller receives from Parent an amount not less than the difference between the actual amount of the Seller’s Net Income for such month and the amount of Net Income the Seller was required to have for such month under Section 16.18(d), plus $1.00 (the “Contribution Amount”) on or prior to the Cure Date; provided that the Seller may exercise the Cure Right only one (1) time during the then-current term of this Agreement. For purposes of any Applicable Measuring Period in which a month occurs as to which the Seller exercised a cure right under this Section 16.18(e), the Contribution Amount shall be reflected in the determination of the Seller’s Net Income for such month. Notwithstanding anything in this Agreement to the contrary, any noncompliance with Section 16.18(d) of this Agreement shall not constitute a Default or an Event of Default until the earlier of (A) the day after the Cure Notification Date, if no Cure Notification has been delivered within the Cure Notification Period, and (B) the Cure Date, if the Contribution Amount has not been applied on or prior to the Cure Date as described above; provided further that, during the Cure Notification Period, and during the Cure Period if a Cure Notice has been delivered within the Cure Notification Period, the Seller shall not be permitted to request any Transactions.. 17

Seller Cure Right. If the Seller fails to comply with Section 16.18(d) of this Agreement for any calendar month, then, until the expiration of the period (the “Cure Period”) commencing on the last day of any month and ending on the date occurring on the thirtieth (30th) day (the “Cure Date”) subsequent to the earlier of (x) the date that the compliance certificate for such calendar month is required to be delivered pursuant to Section 16.2(c) hereof and (y) the date that such compliance certificate for such calendar month is actually delivered to the Agent, it shall not be deemed to be a Default or Event of Default hereunder if the Seller provides notice (the “Cure Notice”) to the Agent on a date (the “Cure Notification Date”) occurring within three (3) Business Days of the earlier of the dates described in clauses (x) and (y) above (the “Cure Notification Period”) that it intends to exercise the cure right under this Section 16.18(e) (the “Cure Right) and the Seller receives from Parent an amount not less than the difference between the actual amount of the Seller’s Net Income for such month and the amount of Net Income the Seller was required to have for such month under Section 16.18(d), plus $1.00 (the “Contribution Amount”) on or prior to the Cure Date; provided that the Seller may exercise the Cure Right only one (1) time during the then-current term of this Agreement. For purposes of any Applicable Measuring Period in which a month occurs as to which the Seller exercised a cure right under this Section 16.18(e), the Contribution Amount shall be reflected in the determination of the Seller’s Net Income for such month. Notwithstanding anything in this Agreement to the contrary, any noncompliance with Section 16.18(d) of this Agreement shall not constitute a Default or an Event of Default until the earlier of (A) the day after the Cure Notification Date, if no Cure Notification has been delivered within the Cure Notification Period, and (B) the Cure Date, if the Contribution Amount has not been applied on or prior to the Cure Date as described above; provided further that, during the Cure Notification Period, and during the Cure Period if a Cure Notice has been delivered within the Cure Notification Period, the Seller shall not be permitted to request any Transactions.. 78