Common use of THDA Cure Period Clause in Contracts

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 from THDA (but subject to the rights of THDA under the THDA Loan Documents.

THDA Cure Period. If a default occurs under the Senior [Senior/Private/ Loan Documents, Senior [Senior/Private] Lender shall notify THDA in writing within five (5) business days of Senior [Senior/Private] 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 after THDA’s receipt of such notice from Senior [Senior/Private] Lender or from Syndicator (the “THDA Cure Period”), THDA shall have the right (but not the obligation) to cure the default under the Senior [Senior/Private] 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 BorrowerXxxxxxxx), THDA shall have the right to pay the Senior [Senior/Private] Loan in full in accordance with the terms of the Senior [Senior/Private] Loan Documents and obtain the release of the Property and Collateral from any lien or security interest or title created under the Senior [Senior/Private] Loan Documents. During the THDA Cure Period, Senior [Senior/Private] Lender shall not accelerate the debt evidenced by the Senior [Senior/Private] Note, begin Foreclosure proceedings, or exercise any other remedies it may have under the Senior [Senior/Private] 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 [Senior/Private] Loan Documents or Syndication Agreement, respectively, the Senior [Senior/Private] Loan and/or Syndication Agreement shall be deemed reinstated. If Borrower cures the default, Senior [Senior/Private] 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 [Senior/Private] 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 [Senior/Private] Lender shall have no further obligation to allow THDA to cure the default and Senior [Senior/Private] Lender and/or Syndicator may then exercise any rights and remedies under the Senior [Senior/Private] 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 from THDA (but subject to the rights of THDA under the THDA Loan DocumentsDocuments.this Agreement).

THDA Cure Period. If a default occurs under the Senior Private Loan Documents, Senior Private Lender shall notify THDA in writing within five (5) business days of Senior Private 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 after THDA’s receipt of such notice from Senior Private Lender or from Syndicator (the “THDA Cure Period”), THDA shall have the right (but not the obligation) to cure the default under the Senior Private 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 Private 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 Private Loan Documents. During the THDA Cure Period, Senior Private Lender shall not accelerate the debt evidenced by the Senior Private Note, begin Foreclosure proceedings, or exercise any other remedies it may have under the Senior Private 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 Private Loan Documents or Syndication Agreement, respectively, the Senior Private Loan and/or Syndication Agreement shall be deemed reinstated. If Borrower cures the default, Senior Private 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 Private 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 Private Lender and/or Syndicator may then exercise any rights and remedies under the Senior Private 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 from THDA (but subject to the rights of THDA under the THDA Loan Documentsthis Agreement.

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 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 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 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 from THDA (but subject to the rights of THDA under the THDA Loan Documents.

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 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 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 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 from THDA (but subject to the rights of THDA under the THDA Loan Documents).