Cure Payment Clause Samples
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Cure Payment. For a period of six months after the date AHF or its designee has made an LP Loan (other than a Default LP Loan) which increases the Excess LP Loan Amount (an "Excess LP Loan"), Wichita GP shall have the right to make a GP Loan in an amount equal to the amount by which such Excess LP Loan increased the Excess LP Loan Amount, plus the accrued interest on such Excess LP Loan. If the Wichita GP funds such a curative GP Loan by cash, certified check or wire transfer of immediately available funds within such six month period, the Partnership shall immediately use the proceeds of such loan to make a payment (a "Cure Payment") on the LP Loan equal to the amount of such GP Loan. If the Wichita GP does not fund such GP Loan by cash, certified check or wire transfer of immediately available funds within such six month period, then the right of the Wichita GP to make a GP Loan with respect to that particular increase in the Excess LP Loan Amount, and consequently reduce the Excess LP Loan Amount under this Section 5.10(g), shall terminate. Wichita GP shall have the right to make Cure Payments with respect to each LP Loan (other than a Default LP Loan) made by AHF or its designee. RIGHTS, OBLIGATIONS AND POWERS OF THE GENERAL PARTNER
Cure Payment. Payment by the Issuer of all overdue and unpaid accrued interest on the 2011 Notes in the agreed, reduced aggregate amount of $5,775,799.00 so long as the Closing Date shall occur on or before July 31, 2017; thereafter the Applicable Rate shall accrue and be payable on overdue principal and interest owed on the 2011 Notes as set forth in the 2011 Indentures;
Cure Payment. 19.3.1 If the Borrowers are at any time in breach of the Interest Cover or Loan to Value Covenant (provided the Loan to Value is no greater than 95%) set out in Clause 19.1 and 19.2 respectively, the Borrower may rectify such breach by (within five Business Days of the date of the breach) either:
19.3.1.1 prepaying the Loan in whole or in part; and/or
19.3.1.2 placing to the credit of the Rectification Account such amount as the Agent determines is necessary to bring the Borrower within compliance with any relevant Financial Covenant pursuant to Clauses 19.1 or 19.2 (as the case may be) and in particular be at least 120% of the Project Annual Finance Costs as at that date,
Cure Payment. The Cure Payment shall equal the difference between (y) ninety percent (90%) of the Gross Operating Profit set forth in the approved Annual Plan for the second of the two applicable Measurement Years giving rise to Owner’s right to terminate, and (z) the actual Gross Operating Profit for such Measurement Year.