Xxxxxxxx’s Right to Cure. Landlord, at any time after Xxxxxx commits a default, can cure the default at Tenant's cost. If Landlord at any time, by reason of Tenant's default, pays any sum or does any act that requires the payment of any sum, the sum paid by Landlord shall be due immediately from Tenant to Landlord at the time the sum is paid, and if paid at a later date shall bear interest at the maximum rate an individual is permitted by law to charge from the date the sum is paid by Landlord until Landlord is reimbursed by Xxxxxx. The sum, together with interest on it, shall be additional rent.
Xxxxxxxx’s Right to Cure. Notwithstanding anything to the contrary in this Agreement (including this Article 8), upon the occurrence of a Default or Event of Default as a result of the Borrower’s failure to comply with Section 7.10 above for any fiscal quarter, the Borrower shall have the right (the “Cure Right”) (at any time during such fiscal quarter or thereafter until the date that is 15 Business Days after the date on which financial statements for such fiscal quarter are required to be delivered pursuant to Section 6.01(a) or (b), as applicable) to issue Qualified Equity Interests or other equity (such other equity to be on terms reasonably acceptable to the Administrative Agent) for cash or otherwise receive cash contributions in respect of its Qualified Equity Interests (the “Cure Amount”), and thereupon compliance with Section 7.10 shall be recalculated giving effect to a pro forma increase in the amount of Consolidated EBITDA by an amount equal to the Cure Amount (notwithstanding the absence of a related addback in the definition of “Consolidated EBITDA”) solely for the purpose of determining compliance with Section 7.10 as of the end of such fiscal quarter and for applicable subsequent periods that include such fiscal quarter. If, after giving effect to the foregoing recalculation (but not, for the avoidance of doubt, taking into account any repayment of Indebtedness in connection therewith), the requirements of Section 7.10 would be satisfied, then the requirements of Section 7.10 shall be deemed satisfied as of the end of the relevant fiscal quarter with the same effect as though there had been no failure to comply therewith at such date, and the applicable breach or default of Section 7.10 that had occurred (or would have occurred) shall be deemed cured for the purposes of this Agreement. Notwithstanding anything herein to the contrary, (i) in each four consecutive fiscal quarter period there shall be at least two fiscal quarters (which may, but are not required to be, consecutive) in which the Cure Right is not exercised, (ii) during the term of this Agreement, the Cure Right shall not be exercised more than five times, (iii) the amount of the issuance of Qualified Equity Interests given effect as a Cure Amount shall be no greater than the amount required for the purpose of complying with Section 7.10, (iv) there shall be no pro forma or actual reduction of the amount of Indebtedness by the amount of any Cure Amount for purposes of determining compliance with Section...
Xxxxxxxx’s Right to Cure. Notwithstanding anything to the contrary contained in Section 7.01 or Section 7.02:
(a) For the purpose of determining whether an Event of Default under a Financial Covenant has occurred, the Borrower may on one or more occasions:
(i) designate any portion of the net cash proceeds from a sale or issuance of Capital Stock, other than any Disqualified Stock of the Borrower or any contribution to the common capital of the Borrower (or from any other contribution to capital or sale or issuance of any other Capital Stock on terms reasonably satisfactory to the Administrative Agent) (the “Cure Amount”) as an increase to Consolidated EBITDA for the applicable fiscal quarter; provided that (A) such amounts to be designated are actually received by the Borrower on or after the first day of such applicable fiscal quarter and on or prior to the 10th Business Day after the date on which financial statements are required to be delivered with respect to such applicable fiscal quarter (the “Cure Expiration Date”), (B) such amounts do not exceed the aggregate amount necessary to cure any Event of Default under the relevant Financial Covenant as of such date and (C) the Borrower shall have provided notice to the Administrative Agent on the date such amounts are designated as a “Cure Amount” (it being understood that to the extent any such notice is provided in advance of delivery of a Compliance Certificate for the applicable period, the amount of such net cash proceeds that is designated as the Cure Amount may be different than the amount necessary to cure any Event of Default under the relevant Financial Covenant and may be modified, as necessary, in a subsequent corrected notice delivered on or before the Cure Expiration Date (it being understood that in any event the final designation of the Cure Amount shall continue to be subject to the requirements set forth in clauses (A) and (B) above)); provided, further, that the Cure Amount used to calculate Consolidated EBITDA for one fiscal quarter shall be used and included when calculating Consolidated EBITDA for each Test Period that includes such fiscal quarter.
(b) The parties hereby acknowledge that this Section 7.03 may not be relied on for purposes of calculating any financial ratios other than for determining actual compliance with Article VI (and not pro forma compliance with Article VI that is required by any other provision of this Agreement) and shall not result in any adjustment to any amounts (including the amo...
Xxxxxxxx’s Right to Cure. Notwithstanding anything to the contrary contained in Article VIII: (a) For the purpose of determining whether an Event of Default under Section 7.11(a) and/or Section 7.11(b) has occurred, the Lead Borrower may on one or more occasions designate any portion of the net cash proceeds from a sale or issuance of Equity Interests (other than Disqualified Equity Interests unless reasonably acceptable to Administrative Agent) of the Lead Borrower (or any direct or indirect parent company), which proceeds are then contributed to the Lead Borrower as cash common equity) or any cash contribution to the common equity capital of the Lead Borrower (the “Cure Amount”) as an increase to Consolidated EBITDA for the applicable fiscal quarter and/or to Liquidity for the applicable fiscal month; provided, that (A) such amounts to be designated (i) are actually received by the Lead Borrower after the first day of the applicable fiscal quarter or fiscal month, as applicable, and on or prior to (x) with respect to Section 7.11(a), the fifteenth Business Day 186
Xxxxxxxx’s Right to Cure. (a) Notwithstanding anything to the contrary contained in Sections 8.01 or 8.02, if the Borrower determines that an Event of Default under the covenant set forth in Section 7.11 has occurred or may occur, during the period commencing after the beginning of the last fiscal quarter included in such Test Period and ending ten (10) Business Days after the date on which financial statements are required to be delivered hereunder with respect to such fiscal quarter, the Investorsany direct or indirect parent of Holdings may make a Specified Equity Contribution to Holdings (a “Designated Equity Contribution”), and the amount of the net cash proceeds thereof shall be deemed to increase Consolidated EBITDA with respect to such applicable quarter; provided that such net cash proceeds (i) are actually received by the Borrower as cash common equity (including through capital contribution of such net cash proceeds to the Borrower) during the period commencing after the beginning of the last fiscal quarter included in such Test Period by the Borrower and ending ten (10) Business Days after the date on which financial statements are required to be delivered with respect to such fiscal quarter hereunder and (ii) are Not Otherwise Applied. The parties hereby acknowledge that this Section 8.05(a) may not be relied on for purposes of calculating any financial ratios other than as applicable to Section 7.11 and shall not result in any adjustment to any baskets or other amounts other than the amount of the Consolidated EBITDA for the purpose of Section 7.11.
Xxxxxxxx’s Right to Cure. If Tenant at any time fails to make any payment or take any action this Lease requires, then Landlord shall have the right at any time in the event of a Material O&M Default, or in the event of an emergency (for purposes hereof, "emergency" shall be deemed to mean that there is an imminent risk to any Person or portion of the Center), or upon thirty (30) days' Notice to Tenant in all other circumstances, to take such actions as this Lease may permit without waiving or releasing Tenant from any obligation or Default and without waiving Landlord's right to immediately take such action as Landlord deems appropriate under the circumstances, as a result of such Default, and may (but need not) make such payment or take such actions. Tenant shall reimburse Landlord, as Additional Rent, for an amount equal to (a) all reasonable sums paid, and reasonable costs and expenses (including Legal Costs) incurred by Landlord in exercising its cure rights under this paragraph, and (b) Default Interest.
Xxxxxxxx’s Right to Cure. If Tenant defaults in the performance of any obligation under this Lease, Landlord will have the right (but is not required) to perform such obligation and, if necessary, to enter upon the Premises. All costs incurred by Landlord (together with interest at the rate of 15% per annum, but not to exceed the highest legal rate) will be deemed to be Additional Rent under this Lease and will be payable to Landlord immediately on demand. Landlord may exercise the foregoing rights without waiving any of its other rights or releasing Tenant from any of its obligations under this Lease.
Xxxxxxxx’s Right to Cure. If Tenant fails to provide security for or satisfaction of any mechanics' lien, then Landlord, in addition to any other rights or remedies it may have, may (but shall not be obligated to) discharge said lien by (i) paying the claimant an amount sufficient to settle and discharge the claim, (ii) posting a release bond, or (iii) taking such action as Landlord shall deem appropriate, and Tenant shall pay to Landlord on demand all costs incurred by Landlord in settling and discharging such lien (including reasonable attorney fees and bond premiums).
Xxxxxxxx’s Right to Cure. If Tenant refuses or neglects to repair or maintain the Premises as required by this Lease to the reasonable satisfaction of Landlord as soon as is reasonably possible after written demand by Landlord, Landlord may make the repairs without liability on the part of Landlord to Tenant for any loss or damage that may accrue to the merchandise, fixtures or other property of Tenant or to the business of Tenant by reason of the repairs, and upon completion of the repairs, Tenant will pay the cost of Landlord for making the repairs plus fifteen percent for overhead, immediately upon presentation of a bill for the repairs. Failure of Tenant to pay the amount within five days of receipt of the bill will constitute a material default by Tenant as provided in this Lease.
Xxxxxxxx’s Right to Cure. If Tenant shall at any time default in the performance of any obligation under this Agreement, Landlord shall have the right, but not the obligation, to cure such default. In curing such default, Landlord may make any payment of money or perform any other act. All sums so paid by Xxxxxxxx (together with interest at the Wall Street Journal Prime Rate plus three percent, accruing from the date of payment) and all necessary incidental costs and expenses (including reasonable attorneys’ fees) in connection with the performance of any such act by Landlord, shall be deemed to be additional rent under this Agreement and shall be payable to Landlord promptly on demand. Landlord may exercise the foregoing rights without waiving any other of its rights or releasing Tenant from any of its obligations under this Agreement. Tenant shall save Landlord harmless from any liability incurred by Landlord pursuant to this Section.
