Xxxxxx’s Right to Cure. (a) Master Tenant and Operator hereby each agrees that it will not exercise any right granted to them under the Master Lease and Sublease, respectively, or which it might otherwise have under applicable law, to terminate the Master Lease on account of a default of Borrower, or to terminate the Sublease as a result of a default of Master Tenant, or the occurrence of any other event, without first giving to Lender prior written notice of its intent to terminate, which notice shall include a statement of the default or event on which such intent to terminate is based. Thereafter, Master Tenant shall not take any action to terminate the Master Lease, and Operator shall not take any action to terminate the Sublease, if Lender (i) within thirty (30) days after such notice, shall cure such default or event if the same can be cured by the payment or expenditure of money, or (ii) shall diligently take action to obtain possession of the Project (including possession by receiver) and to cure such default or event in the case of a default or event which cannot be cured unless and until Lender has obtained possession, but in no event to exceed one hundred eighty (180) days after such written notice to Lender by Master Tenant or Operator of its intention to terminate. Notwithstanding any other provision of this Agreement, in no event shall Master Xxxxxx declare a default of the Master Lease against Borrower if Master Tenant is affiliated with Borrower, nor shall Operator declare a default of the Sublease against Master Tenant if Operator is affiliated with Master Tenant, unless either is requested to do so by HUD.
(b) For the purposes of facilitating Xxxxxx’s rights hereunder, Xxxxxx shall have, and for such purposes is hereby granted by Xxxxxxxx, Master Tenant and Operator, the right to enter upon the Project thereon for the purpose of effecting any such cure.
(c) Master Xxxxxx and Operator each hereby agrees to give to Xxxxxx concurrently with the giving of any notice of default under the Master Lease or Sublease, a copy of such notice by mailing the same to Lender in the manner set forth herein below, and no such notice given to Borrower or Master Tenant which is not at or about the same time also given to Lender shall be valid or effective against Lender for any purpose.
Xxxxxx’s Right to Cure. Each Lender shall have the right, but not the obligation, during the same period of time available to Developer to cure or remedy, on behalf of Developer, the default claimed or the areas of non-compliance set forth in City’s notice. Such action shall not entitle a Lender to develop the Property or otherwise partake of any benefits of this Agreement unless such Lender shall assume and perform all obligations of Developer hereunder.
Xxxxxx’s Right to Cure. Regardless of any contrary terms in the Agreement:
A. Buyer will not terminate or suspend the Agreement unless Xxxxx has given the Lender prior written notice of Xxxxx’s intent to terminate or suspend the Agreement describing the event giving rise thereto, including any alleged Seller Default, and provide the Lender with the opportunity to cure any such Seller Default within sixty (60) days after such notice or any longer period provided for in the Agreement. If the Seller Default reasonably cannot be cured by the Lender within the period established under the Agreement, and the Lender commences and continuously pursues the cure of such Seller Default within that period, the period for cure will be extended for a reasonable period of time under the circumstances, but not to exceed an additional thirty (30) days. Seller’s and Xxxxx’s respective obligations will otherwise remain in effect during the cure period.
B. If the Lender or its lawful assignee (including any buyer or transferee) acquires title to or control of Seller’s assets and within the applicable time period cures all defaults under the Agreement existing as of the date of such change in control in the manner required by the Agreement and which are capable of cure by a third party, then the Lender or such third party buyer or transferee will no longer be in default under the Agreement, and the Agreement will continue in full force and effect.
C. At the request of Xxxxxx and/or its assignee, Xxxxx agrees to execute and deliver any document, instrument, or statement (but not including any payment) required by law or otherwise as reasonably requested by Lender or its assignee in order to create, perfect, continue, or terminate the security interest in favor of Lender in all assets of Seller, and to secure the obligations evidenced by the Security Interest. System Site Location: [ ] System Size: [ ] kW (AC) (representing an initial estimate, which may vary depending on the final design of the System) Utility: [ ] Buyer’s Allocated Percentage: [ ]%.
Xxxxxx’s Right to Cure. At any time after the occurrence of any Event of Default set forth in this Section 16, but within the timeframes set forth therein, the Lenders shall have the right, but not the obligation, to cure such Default on behalf of Generator. If the Lenders elect to cure (i) the Lenders must comply with the provisions of this Agreement as though they are acting as Generator, (ii) the Lenders must give Customer reasonable notice of the contractors it intends to engage to perform any work, and (iii) the Lender shall not use any contractor whom Customer reasonably determines is not satisfactory.
Xxxxxx’s Right to Cure. Each Lender shall have the right (but not the obligation) for a period of sixty (60) days after the expiration of the time period for cure provided to Owner pursuant to Section 4.1 to cure or remedy, or to commence to cure or remedy, the default claimed or the areas of noncompliance set forth in the City's notice. If the default or such noncompliance is of a nature which can only be remedied or cured by such Permitted Mortgagee upon obtaining possession, such Permitted Mortgagee may seek to obtain possession with diligence and continuity through a receiver or otherwise and may thereafter remedy or cure the default or noncompliance within sixty (60) days after obtaining possession. If any default or noncompliance cannot, with diligence, be remedied or cured within such sixty (60) day period, then such Permitted Mortgagee shall have such additional time as may be reasonably necessary to remedy or cure such default or noncompliance if such Permitted Mortgagee commences cure during such sixty (60) day period and thereafter diligently pursues completion of such cure to completion. Notwithstanding the foregoing, nothing in this Agreement shall be deemed to permit or authorize any Permitted Mortgagee to undertake or continue construction or completion of any improvements comprising the Project (beyond the extent necessary to conserve or protect improvements or construction already. completed) without first having expressly assumed Owner's obligations under this Agreement.
Xxxxxx’s Right to Cure. If Subtenant defaults in the observance or performance of any Subtenant's covenants, agreements or obligations hereunder wherein the default can be cured by the expenditure of money, Prime Lessor or Tenant may upon written notice thereof to Subtenant, which remains uncured within thirty (30) days, but without obligation, and without limiting any of the remedies which it may have by reason of such default, cure the default, charge the actual verifiable direct cost thereof to Subtenant, and Subtenant shall pay the same within thirty (30) days of written demand. In the event the same shall not be paid to Prime Lessor or Tenant, as the case may be, with thirty (30) days from the date of billing, the same shall bear interest at the rate of twelve percent (12%) per annum.
Xxxxxx’s Right to Cure. Each Lender shall have the right (but not the obligation) during the same period of time available to LANDOWNER to cure or remedy, on behalf of LANDOWNER, the default claimed and set forth in CITY's written default notice. Such action shall not entitle a Lender to develop the Property or otherwise partake of any benefits of this Agreement unless such Lender shall assume and perform all obligations of LANDOWNER hereunder under the terms of the Assignment and Assumption Agreement.
Xxxxxx’s Right to Cure. 18.1 Lessor's Right to Cure Lessee's Lease Defaults....................... 20
Xxxxxx’s Right to Cure. Any failure by Landlord to perform any obligation on the part of Landlord under this Lease as and when required under this Lease as well as any other breach of or noncompliance with any other covenant or obligation of Landlord under this Lease shall be deemed a default of this Lease by Landlord, provided that Landlord shall not be deemed to be in default of this Lease unless and until Landlord fails to perform such obligation or otherwise cure such breach or noncompliance within ten (10) days after written notice by Tenant to Landlord specifying the nature of Landlord’s alleged default, provided, however, that if the nature of Landlord’s alleged default is such that more than ten (10) days are required for its cure, then Landlord shall not be deemed to be in default if Landlord shall commence such performance within such ten-day (10-day) period and thereafter diligently prosecute the same to completion.
Xxxxxx’s Right to Cure. Each Lender having a security interest in the Project real property shall have the right, but not the obligation, for the same period of time given to the Owner to cure or remedy, on behalf of the Owner, the breach claimed or the areas of non-compliance set forth in the City's notice. Such action shall not entitle a Lender to develop the Property or otherwise partake of any benefits of this Agreement unless such Lender shall assume and perform all obligations of the Owner hereunder.
