Violation of Agreement by Xxxxxxxx. a. In the event of the Borrower's breach, violation or default in the performance of any covenant, agreement or obligation of the Borrower set forth in this Agreement including, but not limited to, Xxxxxxxx's covenant to perform its obligations under the Loan Documents, the Department shall give the Borrower written notice in the manner specified in paragraph 38 of this Agreement, specifying the nature of the violation, breach or default and the action needed to cure. If the default, breach or violation is not cured to the satisfaction of the Department within the time period specified in the notice, which shall not be less than the applicable time to cure as stated in paragraph 26 of this Agreement, the Department may declare a default hereunder and may take any one or more of the following actions:
Appears in 12 contracts
Samples: Regulatory Agreement, Regulatory Agreement, Regulatory Agreement
