Common use of Cure Periods Clause in Contracts

Cure Periods. Except as expressly provided to the contrary in this Note or any of the other Related Documents, the Bank shall not exercise its option to accelerate the maturity of this Note upon the occurrence of a default unless the default has not been fully cured (i) within five (5) days after its occurrence, if the condition, event or occurrence giving rise to such default can be cured by the payment of money, or (ii) within thirty (30) days after its occurrence, if the condition, event or occurrence giving rise to such default is of a nature that it can be cured only by means other than the payment of money. Provided, however, that the Borrower shall have no cure rights if the condition, event or occurrence giving rise to the default: (a) is described in any of clauses 3(b), (6), (7), (8), (9), or (11) above or (b) constitutes a breach of any covenant in any of the Related Documents prohibiting the sale or transfer of (i) any assets of any Borrower, Mortgagor, Pledgor, Debtor, Assignor, Trustor or any similar pledging or borrowing party or (ii) any of the Collateral; or (c) during the twelve (12) month period immediately preceding the occurrence of the default, either (i) the same default has occurred or (ii) three (3) or more other defaults of any nature have occurred. Notwithstanding the existence of any cure period, the Bank shall have no obligation to extend credit governed by this Note, whether by advance, disbursement of a loan or otherwise after the occurrence of any default or event which with the giving of notice or the passage of time or both could become a default or during any cure period. The inclusion of any cure period in this Note shall have no bearing on the due dates for payments under any of the Related Documents, whether for purposes of calculating late payment charges or otherwise.

Cure Periods. Except as expressly provided to the contrary in this Note agreement or any of the other Related Documents, the Bank shall not exercise its option to accelerate the maturity of this Note the Notes upon the occurrence of a default unless the default has not been fully cured (i) within five (5) days after its occurrence, if the condition, event or occurrence giving rise to such the default can be cured solely by the payment of money, money or (ii) within thirty twenty (3020) days after its occurrence, if the condition, event or occurrence giving rise to such the default is of a nature that it can cannot be cured only solely by means other than the payment of money. Provided, however, that the Borrower shall have no cure rights if the condition, event or occurrence giving rise to the default: (a) is described in any of clauses 3(b(D), (6F), (7G), (8)H), (9J), (K), (L), (N), (P) or (11Q) of the section above captioned Events of Default; or (b) constitutes a breach of any covenant in any of the Related Documents prohibiting the sale or transfer of (i) any assets property of any Borrower, Mortgagor, Pledgor, Debtor, Assignor, Trustor or any similar pledging or borrowing party of the Parties or (ii) any of the Collateral; or (c) during the twelve (12) month period immediately preceding the occurrence of the default, default either (iA) the same default has occurred or (iiB) three (3) or more other defaults of any nature have occurred. Notwithstanding the existence of any cure period, the Bank shall have no obligation to extend credit governed by this Noteagreement, whether by advance, disbursement of a loan or otherwise after the occurrence of any default or event which with the giving of notice or the passage of time or both could become a default or during any cure period. The inclusion of any cure period in this Note agreement shall have no bearing on the due dates for payments under any of the Related Documents, whether for purposes of calculating late payment charges or otherwise.

Cure Periods. Except as expressly provided to the contrary in this Note agreement or any of the other Related Documents, the Bank shall not exercise its option to accelerate the maturity of this Note the Notes upon the occurrence of a default unless the default has not been fully cured (i) within five (5) days after its occurrence, if the condition, event or occurrence giving rise to such the default can be cured solely by the payment of money, money or (ii) within thirty ten (3010) days after its occurrence, if the condition, event or occurrence giving rise to such the default is of a nature that it can cannot be cured only solely by means other than the payment of money. Provided, however, that the Borrower shall have no cure rights if the condition, event or occurrence giving rise to the default: (a) is described in any of clauses 3(bC(ii), (6F), (7G), (8)H), (9I), or (11K) above of the section captioned Events of Default/Acceleration above; or (b) constitutes a breach of any covenant in any of the Related Documents prohibiting the sale or transfer of (i) any assets Property of any Borrower, Mortgagor, Pledgor, Debtor, Assignor, Trustor or any similar pledging or borrowing loan party or (ii) any of the Collateral; or (c) during the twelve (12) month period immediately preceding the occurrence of the default, default either (iA) the same default has occurred or (iiB) three (3) or more other defaults of any nature have occurred. Notwithstanding the existence of any cure period, the Bank shall have no obligation to extend credit governed by this Noteagreement, whether by advance, disbursement of a loan loan, issuance of a Letter of Credit or otherwise after the occurrence of any default or event which with the giving of notice or the passage of time or both could become a default or during any cure period. The inclusion of any cure period in this Note agreement shall have no bearing on the due dates for payments under any of the Related Documents, whether for purposes of calculating late payment charges or otherwise.

Cure Periods. Except as expressly provided to the contrary in this Note agreement or any of the other Related Documents, the Bank shall not exercise its option to accelerate the maturity of this Note the Notes upon the occurrence of a default unless the default has not been fully cured (i) within five (5) days after its occurrence, if the condition, event or occurrence giving rise to such the default can be cured solely by the payment of money, money or (ii) within thirty (30) days after its occurrence, if the condition, event or occurrence giving rise to such the default is of a nature that it can cannot be cured only solely by means other than the payment of money. Provided, however, that the Borrower shall have no cure rights if the condition, event or occurrence giving rise to the default: (a) is described in any of clauses 3(bC(b), (6F), (7G), (8)H), (9I), (K) or (11L) above of the section captioned Events of Default/Acceleration section above; or (b) constitutes a breach of any covenant in any of the Related Documents prohibiting the sale or transfer of (i) any assets property of any Borrower, Mortgagor, Pledgor, Debtor, Assignor, Trustor or any similar pledging or borrowing loan party or (ii) any of the Collateral; or (c) during the twelve (12) month period immediately preceding the occurrence of the default, default either (iA) the same default has occurred or (iiB) three (3) or more other defaults of any nature have occurred. Notwithstanding the existence of any cure period, the Bank shall have no obligation to extend credit governed by this Noteagreement, whether by advance, disbursement of a loan loan, issuance of a Letter of Credit or otherwise after the occurrence of any default or event which with the giving of notice or the passage of time or both could become a default or during any cure period. The inclusion of any cure period in this Note agreement shall have no bearing on the due dates for payments under any of the Related Documents, whether for purposes of calculating late payment charges or otherwise.

Cure Periods. Except as expressly provided to the contrary in this Note or any of the other Related Documents, the Bank shall not exercise its option to accelerate the maturity of this Note upon the occurrence of a default unless the default has not been fully cured (i) within five (5) days after its occurrence, if the condition, event or occurrence giving rise to such default can be cured by the payment of money, or (ii) within thirty (30) days after its occurrence, if the condition, event or occurrence giving rise to such default is of a nature that it can be cured only by means other than the payment of money. Provided, however, that the Borrower shall have no cure rights if the condition, event or occurrence giving rise to the default: (a) is described in any of clauses 3(b), (5), (6), (7), (8), (9), or (11) 8) above or (b) constitutes a breach of any covenant in any of the Related Documents prohibiting the sale or transfer of (i) any assets of any Borrower, Mortgagor, Pledgor, Debtor, Assignor, Trustor or any similar pledging or borrowing party or (ii) any of the Collateral; or (c) during the twelve (12) month period immediately preceding the occurrence of the default, either (i) the same default has occurred or (ii) three (3) or more other defaults of any nature have occurred. Notwithstanding the existence of any cure period, the Bank shall have no obligation to extend credit governed by this Note, whether by advance, disbursement of a loan or otherwise after the occurrence of any default or event which with the giving of notice or the passage of time or both could become a default or during any cure period. The inclusion of any cure period in this Note shall have no bearing on the due dates for payments under any of the Related Documents, whether for purposes of calculating late payment charges or otherwise.