Applicable Cure Period definition

Applicable Cure Period means (i) with respect to a monetary default, the greater of the right afforded Landlord under the Lease with respect to said default or five (5) days after receipt of the Notice and (ii) with respect to a non-monetary default, the greater of the right afforded Landlord under the Lease with respect to said default or twenty (20) days after receipt of the Notice. Without limiting Section 3 above, nothing in this Section 5 shall act to restrict or delay Tenant’s rights of abatement or offset under the Lease.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Applicable Cure Period has the meaning given to it in Clause 42.2(c)(ii).

Applicable Cure Period has the meaning given to that term in Clause 24.4 (Equity Cure).

Examples of Applicable Cure Period in a sentence

• Nothing in clause 3 restricts the Government Parties from exercising at any time (whether or not within the Applicable Cure Period) any Right to remedy or to mitigate the effects of any Default if the Government Parties reasonably consider that such remedy or mitigation is necessary or desirable in the interests of procuring that there is no interruption to the continued availability of rail freight services within the State.

• Notwithstanding the foregoing, in the event of two (2) monetary defaults during the term of this Note, the Applicable Cure Period for any future monetary default or defaults following such second monetary default shall be ten (10) calendar days instead of thirty (30) calendar days.

• The failure by the Company to: (i) make the payments described in Section I within thirty (30) days of the Total Payment date (the "Delinquency Date"); (ii) make any other payments described herein on or before thirty (30) days (the "Applicable Cure Period") within which said payment can be made without penalty; or (iii) the occurrence and continuance of any events of default under the Leaseback Agreement after any Applicable Cure Periods.

• For the purposes of this Agreement, an Event of Default shall not be deemed to have occurred with respect to any Curable Event of Default until the expiration of any Applicable Cure Period relating thereto.

• The length of such additional cure period shall equal the number of days in Tenant’s Applicable Cure Period.

• In the event that Tenant fails to cure a default within the Applicable Cure Period, any leasehold mortgagee shall have an additional cure period after the expiration of Tenant’s Applicable Cure Period to cure such default.

• This Agreement shall remain in full force and effect until the expiration of the Applicable Cure Period or other termination notice period.

• Any breach or default of any covenant of this Deed of Trust which Beneficiary does not cure within the "Applicable Cure Period," as defined below, or in the event such Event of Default cannot reasonably be cured within such time, which Trustor does not commence to cure within the Applicable Cure Period and thereafter diligently and continuously proceed with such cure to completion and complete the same within a period determined to be reasonable by Beneficiary.

• If the Default was committed by the IBE and that Default remains unremedied at the end of the Applicable Cure Period, GCA may terminate this Agreement by giving a written notice (Termination Notice) of not less than two (2) Month to the IBE; and upon which GCA shall takeover the Facility in accordance with Clause 24.6(b) (Consequences of Termination other than upon Expiration of Term).

• If the Default was committed by GCA and that Default remains un-remedied at the end of the Applicable Cure Period the IBE may terminate this Agreement by giving a Termination Notice of not less than two (2) Month to GCA, upon which GCA shall takeover the Facility in accordance with Clause 24.6(a) (Consequences of Termination other than upon Expiration of Term).

More Definitions of Applicable Cure Period

Applicable Cure Period means five (5) Business Days; provided, however, that:

Applicable Cure Period means the period allowed to the Security Trustee to cure or procure the cure of a Critical Default as set out in Schedule 1 hereto, being a period commencing on the date of notice being given to the Security Trustee pursuant to clause 3.3(b).

Applicable Cure Period means, in the case of a Material Event of Default, a period of 8 months and, in the case of any other Default:

Applicable Cure Period with respect to any breach by Sema4 on the one hand or a Mount Sinai Party on the other hand means a [***] cure period determined by the [***] (i.e., [***]) taking into account the [***] of the breach, with the understanding that the following cure periods shall be deemed [***] for purposes of this Agreement and the cure period [***] shall not be [***] the applicable following periods: (i) for any breach [***], [***] days after the breaching party receives notice of the breach from the non-breaching party, (ii) where a [***] has been breached, a period of [***] days after the due date of the [***]; provided, however, that, with respect to the first breach of a [***] relating to [***], if Sema4 is making [***] efforts to cure the breach, at Sema4’s request, Sema4 shall be entitled to [***] additional [***]-day cure periods (for a total cure period of [***] days); (iii) where a [***] exists but it is not reasonably likely that an actual breach of [***] has occurred, [***] days after the first to occur of Sema4 becoming aware of the [***] or the date on which notice of such [***] is given to Sema4 by the Mount Sinai Parties; (iv) where a [***] breach or any other [***] exists and it is reasonably likely that [***] is being [***] or otherwise [***] in an [***], [***] days after the first to occur of Sema4 becoming aware of the [***] or the date on which notice of such [***] is given to Sema4 by the Mount Sinai Parties; (v) where [***], [***] days after the date of such [***]; and (vi) for any breach that [***] or causes [***], [***] days after the first to occur of Sema4 becoming aware of the breach or receiving notice of the breach from the Mount Sinai Parties unless a [***] period is required by law; provided that the Parties agree and acknowledge there shall be no Applicable Cure Period for any [***].