Extraordinary Additional Cure Period definition

Extraordinary Additional Cure Period means a period of an additional 90 days from the cure periods provided in any agreement entered into in accordance with this Compliance Policy that begins on the date that the Borrower receives written notice from the Corporation that it intends to appoint a receiver as an enforcement remedy for a Material Event(s) of Default. If corrective action is instituted to cure such Material Event(s) of Default within this 90 day period, the Corporation shall agree this Extraordinary Additional Cure Period shall last so long as, in the reasonable discretion of the Corporation, the Borrower is diligently pursuing a remedy for such Material Event(s) of Default; provided, however in no event shall the Extraordinary Additional Cure Period last for more than one year from the date the Borrower receives notice as described above.
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Extraordinary Additional Cure Period means a period of an additional 90 days from the cure periods provided in any agreement entered into in accordance with this Compliance Policy that begins on the date that the Borrower receives written notice from the Corporation that it intends to appoint a receiver as an enforcement remedy for a Material Event(s) of Default. If corrective action is instituted to cure such Material
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Extraordinary Additional Cure Period means a period of an additional ninety (90) days from the cure periods provided in Section 13 that begins on the date that the Borrower receives written notice from the Corporation that it intends to appoint a receiver as an enforcement remedy for a Material Event(s) of Default under this Agreement. If corrective action is instituted to cure such Material Event(s) of Default within this 90-day period, the Corporation agrees this Extraordinary Additional Cure Period shall last so long as, in the reasonable discretion of the Corporation, the Borrower are diligently pursuing a remedy for such Material Event(s) of Default; provided, however in no event shall the Extraordinary Additional Cure Period last for more than one (1) year from the date the Borrower receive notice as described above unless such corrective action has been instituted by or at the direction of the Corporation, then such Extraordinary Additional Cure Period shall continue so long as such corrective action is diligently pursued.
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Examples of Extraordinary Additional Cure Period in a sentence

  • During an Extraordinary Additional Cure Period, the Corporation shall agree to cooperate fully with all parties (or their successors and assigns) that are named parties in the transaction and hold a significant financial interest in the development to rectify the Event(s) of Default in a diligent manner.

  • The Borrower shall further agree that, following an Extraordinary Additional Cure Period, the equitable appointment of a receiver hereunder is the only remedy available for the Corporation to ensure compliance with the terms of any agreement entered into in accordance with this Compliance Policy and the safety and well-being of the residents of the development owned by the Borrower who has committed a Material Event of Default.

  • Few Field Observations (FOs) were recorded for the Bogia DH construction sites for sedimentation along main drains and water ways where no sedimentation traps were put in place.

  • The Borrower further agrees that, following the Extraordinary Additional Cure Period, the equitable appointment of a receiver hereunder is the only remedy available for the Corporation to ensure compliance with the terms of this Agreement and the safety and well-being of the residents of any Property owned by the Borrower who has committed a Material Event of Default.

  • During an Extraordinary Additional Cure Period, the Corporation agrees to cooperate fully with the Borrower and any Affiliates of the Borrower to rectify the Event(s) of Default in a diligent manner.


More Definitions of Extraordinary Additional Cure Period

Extraordinary Additional Cure Period means a period of an additional 90 days from the cure periods provided in Section 13 that begins on the date that the Borrower, receives written notice from the Corporation that it intends to appoint a receiver as an enforcement remedy for a Material Event(s) of Default under this Agreement. If corrective action is instituted to cure such Material Event(s) of Default within this 90 day period, the Corporation agrees this Extraordinary Additional Cure Period shall last so long as, in the reasonable discretion of the Corporation, the Borrower are diligently pursuing a remedy for such Material Event(s) of Default; provided, however in no event shall the Extraordinary Additional Cure Period last for more than 1 year from the date the Borrower receives notice as described above.
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Related to Extraordinary Additional Cure Period

  • Extraordinary Event means any event, circumstance or cause which Royal Bank determines has or will have a material adverse effect on the ability of Royal Bank to perform its obligations under the Notes or to hedge its position in respect of its obligation to make payment of amounts owing thereunder, including as a result of any of Royal Bank’s internal policies, and more specifically includes a Market Disruption Event in respect of any Share or Hedging Event.

  • Extraordinary Adjustment Event means any of the following events as they relate to the Reference In- strument:

  • Final Disbursement Date means the last date on which Lender may make a Disbursement set forth in Section 10 of the Loan Authorization Agreement (including as amended by an Extension) or, if such date is not a Business Day, the next succeeding Business Day; provided, however, to the extent that Lender has not received cash collateral in the amount of the Letter of Credit Obligations or an equivalent full indemnity from Borrower or Guarantor, as applicable, with respect to Letter of Credit Obligations outstanding on the Final Disbursement Date, the Final Disbursement Date with respect to an advance to fund a drawing under such Letter of Credit shall be no later than thirty (30) days after any such drawing which may be no later than the expiry date of the Letter of Credit related thereto.

  • Additional Disruption Event means any of Change in Law, Hedging Disruption and/or Increased Cost of Hedging.

  • Extraordinary Receipt means any cash received by or paid to or for the account of any Person not in the ordinary course of business, including tax refunds, pension plan reversions, proceeds of insurance (other than proceeds of business interruption insurance to the extent such proceeds constitute compensation for lost earnings), condemnation awards (and payments in lieu thereof), indemnity payments and any purchase price adjustments.

  • Notice Event means any of the events enumerated in paragraph (b)(5)(i)(C) of the Rule and listed in Section 4(a) of this Disclosure Agreement.

  • Extraordinary Dividend means any cash dividend or distribution (or portion thereof) that the Calculation Agent determines, in its sole discretion, is extraordinary or special; and

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • Rejection Event means, in respect of the Benchmark, the relevant competent authority or other relevant official body rejects or refuses or will reject or refuse any application for authorisation, registration, recognition, endorsement, equivalence, approval or inclusion in any official register which, in each case, is required in relation to the Securities, the Benchmark or the administrator or sponsor of the Benchmark under any applicable law or regulation for the Issuer or any other entity to perform its obligations in respect of the Securities.