Cure by Lender. In the event of a default by Borrower in the performance of any of its obligations under any Ground Lease, including, without limitation, any default in the payment of any sums payable thereunder, then, in each and every such case, Lender may, at its option, cause the default or defaults to be remedied and otherwise exercise any and all rights of Borrower thereunder in the name of and on behalf of Borrower. Borrower shall, on demand, reimburse Lender for all advances made and expenses incurred by Lender in curing any such default (including, without limitation, reasonable attorneys' fees and disbursements), together with interest thereon computed at the Default Rate from the date that such advance is made to and including the date the same is paid to Lender.
Cure by Lender. In the event of a default by Borrower in the performance of any of its obligations under any Operating Agreement beyond any applicable notice and cure periods therein, including, without limitation, any default in the payment of any sums payable thereunder, then, in each and every such case, Lender may, at its option, cause the default or defaults to be remedied and otherwise exercise any and all rights of Borrower thereunder in the name of and on behalf of Borrower. Borrower shall, on demand, reimburse Lender for all advances made and reasonable out-of-pocket expenses incurred by Lender in curing any such default (including, without limitation, reasonable attorneys’ fees and disbursements), together with interest thereon computed at the Default Rate from the tenth (10th) day after that such advance is made to and including the date the same is paid to Lender.
Cure by Lender. If any part of the Premises is at any time subject to a first mortgage or a first deed of trust, and this Lease or the rentals due from Tenant hereunder are assigned by Landlord to a mortgagee, trustee or beneficiary ("Lender" for purposes of this Article 18 only) and Tenant is given written notice of the assignment including the mailing address of Lender, then Tenant shall also give written notice of any default by Landlord to Lender, specifying the default in reasonable detail and affording Lender a reasonable opportunity to make performance for and on behalf of Landlord. If and when Lender has made performance on behalf of Landlord, the default shall be deemed cured.
Cure by Lender. Following an Event of Default, Lender may, but shall not be required to, do any act or thing which Borrower has covenanted to do hereunder or cause to be done or remedy any such breach and there shall be added to the Obligations of Borrower the cost or expense incurred by Lender in so doing, and any and all amounts expended by Lender in taking such action, shall be repayable to it upon its demand to Borrower therefor and shall bear interest from the date such cost or expense was incurred by Lender to the date paid in full at the rate of interest set forth in the Note.
Cure by Lender. Without any obligation to do so, make disbursements or Loans to or on behalf of Borrower or disburse amounts from the Construction Account or any other Account to cure (a) any Event of Default and (b) any default and render any performance under any Project Document as Lender may consider necessary or appropriate, whether to preserve and protect the Collateral or Lender’s interests therein or for any other reason. All sums so expended through new Loans, together with interest on such total amount at the Default Rate (but in no event at a rate in excess of the maximum lawful rate), shall be repaid by Borrower to Lender on demand and shall be secured by the Credit Documents, notwithstanding that such expenditures may, together with amounts advanced under this Agreement, exceed the aggregate amount of the Loan Commitment.
Cure by Lender. If any part of the Premises is at any time subject to a first mortgage or a first deed of trust or ground lease, and this Lease or the rentals due from Tenant hereunder are assigned by Landlord to a mortgagee, trustee or beneficiary or ground lessor (“Assignee” for purposes of this Article 14 only) and Tenant is given written notice of the assignment including the mailing address of Assignee, then Tenant shall also give written notice of any default by Landlord to Assignee, specifying the default in reasonable detail and affording Assignee a reasonable period of time to cure the default before Tenant exercises any remedy. If and when Assignee has made performance on behalf of Landlord, the default shall be deemed cured.
Cure by Lender. If Borrower shall default in the performance or observance of any term, covenant or condition of the Management Agreement on its part to be performed or observed beyond any applicable grace or cure period, then, without limiting Lender’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its obligations hereunder and without releasing Borrower under the Management Agreement, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed or observed, but such performance by Lender shall not be deemed a cure of any Default or Event of Default arising by reason of Borrower’s breach of the Management Agreement.
Cure by Lender. Without any obligation to do so, make disbursements or Loans to or on behalf of Borrower to cure any Event of Default hereunder and to cure any default and render any performance of Borrower as Lender in its sole discretion may consider necessary or appropriate, whether to preserve and protect the Collateral or Lender’s interests therein or for any other reason, and all sums so expended, together with interest on such total amount at the Default Rate, shall be repaid by Borrower to Lender on demand and shall be secured by the Financing Documents, notwithstanding that such expenditures may, together with amounts advanced under this Agreement, exceed the amount of the Commitments.
Cure by Lender. 48 15.4 Remedies................................................ 48 ARTICLE 16
Cure by Lender. Buyer shall have no right to terminate this Agreement unless Buyer has provided any Lender notice of a breach specified above at the same time as Buyer has provided notice to Seller pursuant to Article 15.2, to the extent that Seller gives Buyer actual notice of appropriate contact persons and addresses. Any such Lender shall have the same right to cure such a breach as Seller, which right shall remain in effect for an additional thirty (30) days after the last day Seller could have cured such breach. In the case of a breach due to an event specified in Articles 15.1(D) or 15.1(E), Buyer shall have no right to terminate this Agreement if Lender has diligently commenced and is diligently continuing to exercise its remedies under any financing documents.
