Nonmonetary Default definition

Nonmonetary Default means Tenant’s material: (a) failure to comply with any affirmative or negative covenant or obligation in this Lease, except a Monetary Default; or (b) breach of any representation or warranty (as of the date made or deemed made).

Nonmonetary Default means Lessee’s: (a) failure to comply with any affirmative or negative covenant or obligation in this Lease or in the Development Contract, except a Monetary Default; or(b) breach of any representation or warranty (as of the date made or deemed made).

Nonmonetary Default means, other than a Monetary Default, any breach by Tenant of its obligations under this Lease that has not been cured within the applicable cure period provided in this Lease.

Examples of Nonmonetary Default in a sentence

• For all purposes of this paragraph, no Senior Nonmonetary Default that existed or was continuing on the date of commencement of any Payment Blockage Period shall be, or be made, the basis for the commencement of a subsequent Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall have been cured for a period of not less than 90 consecutive days.

• Notwithstanding the foregoing, Mortgagee may, but shall not be required, to give notice of a Noticed Monetary Default or a recurrence of the same Noticed Nonmonetary Default more frequently than two times in any twelve-month period.

• A Noticed Monetary Default and/or First Lien Default and/or Noticed Nonmonetary Default shall nevertheless be an Event of Default for all purposes under the Loan Documents (including, without limitation, Mortgagee's right to collect Default Interest and any other administrative charge set forth in the Note) except that the acceleration of the Debt or other exercise of remedies shall not be prior to the expiration of the applicable cure and/or grace periods provided in Section 22 or in this section.

• After the expiration of the Initial Period, no Payment Blockage Period may be commenced on the basis of a Senior Nonmonetary Default on the Senior Indebtedness which was the basis of a Payment Blockage Period commenced during the Initial Period until at least 270 consecutive days have elapsed from the last day of the Initial Period.

• Notwithstanding the foregoing, Mortgagee may, but shall not be required, to give notice of a Monetary Default or a recurrence of the same Nonmonetary Default more frequently than two times in any calendar year.

More Definitions of Nonmonetary Default

Nonmonetary Default shall have the meaning given to such term in Section 5(a) hereof.

Nonmonetary Default means a failure by Maker to perform any obligation contained in this Note or any other Loan Document, other than the obligation to make the payments provided for in this Note or any other Loan Document. If the nonmonetary default is capable of being cured and cannot reasonably be made within the thirty (30) day cure period, the cure period shall be extended up to ninety (90) days so long as Maker has commenced action to cure within the thirty (30) day cure period, and in the Holder's opinion, Maker is proceeding to cure the default with due diligence. None of the foregoing shall be construed to obligate the Holder to forbear in any other manner from exercising its remedies and the Holder may pursue any other rights or remedies which the Holder may have because of the default.

Nonmonetary Default means Lessee’s: (a) failure to comply with any affirmative or negative covenant or obligation in this Lease or in the Development Contract, except a Monetary Default; or

Nonmonetary Default means a failure by Grantor or any other person or entity to perform any obligation contained in the Note or any other Loan Document, other than the obligation to make payments provided for in the Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot reasonably be completed within the thirty (30) day cure period, the cure period shall be extended up to ninety (90) days so long as Grantor has commenced action to cure within the thirty (30) day cure period, and in Beneficiary's opinion, Grantor is proceeding to cure the default with due diligence. None of the foregoing shall be construed to obligate Beneficiary to forebear in any other manner from exercising its remedies and Beneficiary may pursue any other rights or remedies which Beneficiary may have because of a default.

Nonmonetary Default means an event of default or any event or circumstance (other than a Senior Payment Default) with respect to any Senior Indebtedness permitting (after notice or lapse of time or both if required) one or more holders of such Senior Indebtedness to declare such Senior Indebtedness due and payable prior to the date on which it is otherwise due and payable or to suspend the providing of credit to the Borrower pursuant to any agreements relating to such Senior Indebtedness.

Nonmonetary Default means a party’s material: (a) failure to comply with any affirmative or negative covenant or obligation in this Lease, except a Monetary Default; or

Nonmonetary Default means a curable failure beyond the reasonable control of the defaulting party, of a nature that cannot reasonably be cured within a sixty (60) day period, but is curable, and cannot be cured by the payment of money.