THDA Cure Period Sample Clauses

THDA Cure Period. If a default occurs under the Senior Loan Documents, Senior Lender shall notify THDA in writing within five (5) business days of Senior Lender’s knowledge of the default, which notice shall specify the nature of the default or if a default occurs under the Syndication Agreement, Syndicator shall notify THDA in writing within five (5) business days of Syndicator’s knowledge of the default, which notice shall specify the nature of the default. For a period of thirty (30) days following THDA’s receipt of such notice from Senior Lender or from Syndicator (the “THDA Cure Period”), THDA shall have the right (but not the obligation) to cure the default under the Senior Loan Documents or under the Syndication Agreement. If the default is a non-monetary default that THDA is incapable of curing (such as a bankruptcy, the insolvency of Borrower, or an assignment for the benefit of creditors by Borrower), THDA shall have the right to pay the Senior Loan in full in accordance with the terms of the Senior Loan Documents and obtain the release of the Property and Collateral from any lien or security interest or title created under the Senior Loan Documents. During the THDA Cure Period, Senior Lender shall not accelerate the debt evidenced by the Senior Note, begin Foreclosure proceedings, or exercise any other remedies it may have under the Senior Loan Documents. During the THDA Cure Period, Syndicator shall not exercise any remedies it may have under the Syndication Agreement. If THDA cures the default within the THDA Cure Period or if Borrower cures the default within any cure period in the Senior Loan Documents or Syndication Agreement, respectively, the Senior Loan and/or Syndication Agreement shall be deemed reinstated. If Borrower cures the default, Senior Lender and/or Syndicator shall promptly notify THDA of the cure. If THDA does not cure the default within the THDA Cure Period or Borrower does not cure the default as otherwise permitted, or THDA notifies Senior Lender and/or Syndicator during the THDA Cure Period that it does not intend to cure the default and Borrower’s right to cure, if any, has expired, Senior Lender shall have no further obligation to allow THDA to cure the default and Senior Lender and/or Syndicator may then exercise any rights and remedies under the Senior Loan Documents (including the right to waive the default or forbear from exercising its remedies) and/or the Syndication Agreement, respectively, without further notice to or consent fr...
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Related to THDA Cure Period

  • Cure Period Prior to any claim for default being made, either the Buyer or Seller will have an opportunity to cure any alleged default. If either Buyer or Seller fails to comply with any provision of this Agreement, the other party will deliver written notice to the non- complying party specifying such non-compliance. The non-complying party shall have calendar days after delivery of such notice to cure the non-compliance.

  • Notice and Cure Period In the event of a breach, the aggrieved Party shall give written notice of breach to the other Party. If the notified Party does not cure the breach, at its sole expense, within 30 days after the delivery of written notice, the Party may exercise any of the remedies as described in §14 for that Party. Notwithstanding any provision of this Agreement to the contrary, the State, in its discretion, need not provide notice or a cure period and may immediately terminate this Agreement in whole or in part or institute any other remedy in the Agreement in order to protect the public interest of the State.

  • Termination for Cause with Notice to Cure Requirement Contractor may terminate this contract for the Department’s failure to perform any of its duties under this contract after giving the Department written notice of the failure. The written notice must demand performance of the stated failure within a specified period of time of not less than 30 days. If the demanded performance is not completed within the specified period, the termination is effective at the end of the specified period.

  • Recall Period Post probationary employees who are laid-off beyond a one year period of time shall be deemed to be terminated. Probationary employees who are laid-off beyond a three month period of time shall be deemed to be terminated.

  • Correction Period (1) End of correction period. The last day of the correction period for an Operational Failure is the last day of the second plan year following the plan year for which the failure occurred. However, in the case of a failure to satisfy the requirements of § 401(k)(3), 401(m)(2), or 401(m)(9), the correction period does not end until the last day of the second plan year following the plan year that includes the last day of the additional period for correction permitted under § 401(k)(8) or 401(m)(6). If a 403(b) Plan does not have a plan year, the plan year is deemed to be the calendar year for purposes of this subsection.

  • week period If an employee fails to return at the end of the family care or medical leave, the CSU may require repayment of insurance premiums paid during the unpaid portion of the leave. The CSU shall not require repayment of premiums if the employee's failure to return is due to his/her serious health condition or due to circumstances beyond the employee's control.

  • SUSPENSION & TERMINATION FOR DEFAULT Enterprise Services may suspend Contractor’s operations under this Master Contract immediately by written cure notice of any default. Suspension shall continue until the default is remedied to Enterprise Services’ reasonable satisfaction; Provided, however, that, if after thirty (30) days from such a suspension notice, Contractor remains in default, Enterprise Services may terminate Contractor’s rights under this Master Contract. All of Contractor’s obligations to Enterprise Services and Purchasers survive termination of Contractor’s rights under this Master Contract, until such obligations have been fulfilled.

  • Hire Period The Hire Period shall commence from the time stated in the order confirmation unless the Equipment is collected by the Hirer, in which case the Hire Period shall commence when the Equipment leaves our premises. The Hire Period shall terminate when the goods are received back at our premises.

  • Notice Period Where this Agreement specifies a minimum period of notice to be given to the Facility Agent, the Facility Agent may, at its discretion, accept a shorter notice period.

  • CONTRACT RENEWAL PERIOD FURNITURE ADDITIONS/DELETIONS: Contractors wishing to make furniture additions/changes to their contract during the contract period should be aware of the following additions/changes will be allowed only once during a contract period. No changes to discount percentages are allowed during this contract period. Additions/changes must be submitted during the contract renewal period. When requesting additions and/or changes; contractor shall submit a request either by letter or via email which shall include a list of all items being proposed for addition and/or change. Contractor shall submit all required documents supporting any new items. Product literature for all new items shall also be submitted with the request. Contractor is responsible for submitting a complete name, address, email address, phone and fax numbers when a new dealer is added.

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