Common use of Cure Provision Clause in Contracts

Cure Provision. If any default, other than a default in payment is curable and if Borrower has not been given notice of a breach of the same provision of this Note within the preceding twelve (12) months, it may be cured if Borrower, after receiving written notice from Lender demanding cure of such default: (1) cures the default within twenty (20) days; or (2) if the cure requires more than twenty (20) days, immediately initiates steps which Lender deems in Lender’s sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.

Cure Provision. If any default, other than a default in payment is curable and if Borrower Grantor has not been given a notice of a breach of the same provision of this Note Agreement within the preceding twelve (12) months, it may be cured if BorrowerGrantor, after receiving written notice from Lender demanding cure of such default: (1) cures the default within twenty ten (2010) days; or (2) if the cure requires more than twenty ten (2010) days, immediately initiates steps which Lender deems in Lender’s sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.