LOAN CURE RIGHTS AGREEMENTLoan Cure Rights Agreement • November 10th, 2015 • Virginia
THIS LOAN CURE RIGHTS AGREEMENT, dated as of the day of , 201_, between CITY OF VIRGINIA BEACH, a municipal corporation of the Commonwealth of Virginia (“Landlord”), a grantor for purposes of indexing; UNITED STATES MANAGEMENT, LLC, a Delaware limited liability company (“Tenant”), a grantee for purposes of indexing; and
LOAN CURE RIGHTS AGREEMENTLoan Cure Rights Agreement • March 12th, 2021
This document is between the City, USM and USM’s Leasehold Mortgagee (their primary lender). The purpose of this agreement is to delineate the rights of the parties in the loan documents and Transaction Agreement in the event of a default under the primary loan. Much of this document is incomplete as the City has not been engaged with the lender at this time. The document will be revised and executed without further Council action if the terms requested by the lender do not represent a material impairment or change of the City’s rights or obligations.
