Covenant Defaults. Borrower shall fail to perform or observe any covenant, agreement, obligation, representation or warranty contained in this Agreement or in any of the Loan Documents (other than any covenant or agreement obligating Borrower to pay the Indebtedness), and such failure shall continue for thirty (30) days after Lender delivers written notice thereof to Borrower, provided, however, if the failure is incapable of cure within such thirty (30) day period and Borrower shall be diligently pursuing a cure, such thirty (30) day cure period shall be extended by an additional period not to exceed sixty (60) days.
Appears in 2 contracts
Sources: Loan and Security Agreement (Silverleaf Resorts Inc), Inventory and Development Loan and Security Agreement (Silverleaf Resorts Inc)
Covenant Defaults. Borrower shall fail fall to perform or observe any covenant, agreement, obligation, representation or warranty contained in this Agreement or in any of the Loan Documents (other than any covenant or agreement obligating Borrower to pay the Indebtedness), and such failure shall continue for thirty (30) days after Lender delivers written notice thereof to Borrower, provided, however, if the failure is incapable of cure within such thirty (30) day period and Borrower shall be diligently pursuing a cure, such thirty (30) day cure period shall be extended by an additional period not to exceed sixty (60) days.
Appears in 1 contract
Sources: Inventory Loan and Security Agreement (Silverleaf Resorts Inc)
Covenant Defaults. Borrower Borrowers shall fail to perform or observe any covenant, agreement, obligation, representation agreement or warranty obligation contained in this Agreement or in any of the Loan Documents (other than any covenant or agreement obligating Borrower Borrowers to pay the Indebtedness), and such failure shall continue for thirty (30) days after Lender delivers written notice thereof to BorrowerBorrowers, provided, however, if the failure is incapable of cure within such thirty (30) day period and Borrower Borrowers shall 20 26 be diligently pursuing a cure, such thirty (30) day cure period shall be extended by an additional period not to exceed sixty (60) days.
Appears in 1 contract
Covenant Defaults. Borrower Borrowers shall fail to perform or observe any covenant, agreement, obligation, representation agreement or warranty obligation contained in this Agreement or in any of the Loan Documents (other than any covenant or agreement obligating Borrower Borrowers to pay the Indebtedness), and such failure shall continue for thirty (30) days after Lender delivers written notice thereof to BorrowerBorrowers, provided, however, if the failure is incapable of cure within such thirty (30) day period and Borrower Borrowers shall be diligently pursuing a cure, such thirty (30) day cure period shall be extended by an additional period not to exceed sixty (60) days.
Appears in 1 contract
Covenant Defaults. Borrower shall fail to perform or observe any covenant, agreement, obligation, representation agreement or warranty obligation contained in this Agreement or in any of the Loan Documents (other than any covenant or agreement obligating Borrower to pay the Indebtedness), and such failure shall continue for thirty (30) days after Lender Agent delivers written notice thereof to Borrower, provided, however, if the failure is incapable of cure within such thirty (30) day period and Borrower shall be diligently pursuing a cure, such thirty (30) day cure period shall be extended by an additional period not to exceed sixty (60) days.
Appears in 1 contract
Sources: Receivables Loan and Security Agreement (Silverleaf Resorts Inc)