Curing Default. Notwithstanding any DEFAULT provisions of this Lease Agreement, any present or future holder of a mortgage or deed of trust securing money loaned on facilities located on the Leased Premises shall have the right of a thirty (30) day notice of default within which to cure any DEFAULT which may be cured by the payment of money. In addition, for any other DEFAULT for which a forfeiture of said Lease Agreement may be invoked, such holder of such mortgage or deed of trust shall be entitled to a notice in writing of the claimed DEFAULT and shall have a reasonable time, which shall not be less than Thirty (30) days, either to require the correction of such DEFAULT or in lieu thereof to protect itself through the exercise of a power of sale and thereby acquire a leasehold in said property and correct such DEFAULT. LESSEE hereby covenants and agrees to notify LESSOR of the existence of all such mortgages, deeds of trust, or other secured encumbrances, and that, in the absence of such notice, LESSOR has no obligation whatever to notify any such holder of said encumbrance.
Curing Default. In the event of a default by either party, the other party shall not be entitled to exercise any remedy for such default unless a notice of default is sent to the defaulting party and the defaulting party fails to cure such default within seven (7) days after receipt of such notice of default.
Curing Default. If such advances are additional capital contributions, then the Partner failing to make the contribution shall be personally obligated to the other Partner(s) who advanced monies on such Partner's behalf. Said obligation shall be payable in four (4) months from the date such contribution was due, together with interest from the date of the advance at the rate of twelve percent (12%) per year until paid. If such advances will be obligations of the Partnership, then both the Partnership and the Partner failing to make the required contribution shall be jointly obligated to the other Partner(s) advancing on such Partner's behalf. Said obligation shall, regardless of the terms of payment of other advances determined by such business decision, be payable in four (4) months from the date such advance was made, together with interest from the date of the advance at the rate of twelve percent (12%) per year until paid.
Curing Default. If any default under or violation of this Agreement, the party not in default or violation shall serve written notice upon the party or parties in default or violation, which notice shall be in writing and shall specify the particular violation or default. The parties shall use their best efforts to cure any violation of this Agreement or default by any of them within ninety (90) days from written notice of such default. Should the default continue throughout the ninety (90) day cure period, and the defaulting party has provided no evidence of a good faith effort to correct such default, then the Agreement shall be terminated, and the offending party shall be in default, and the non-defaulting Party may revoke the site plan and building permits, authorize the Escrowee to execute the reverter deed for re-acquisition of the Property, or take action at law or equity to enforce performance of the Agreement.. Should the defaulting party provide sufficient evidence of a good faith effort to correct the default within the initial ninety (90) day cure period, then the cure period shall be extended for a period not to exceed ninety (90) days or such reasonable time to cure said default, whichever is greater. If such default is so cured to the reasonable satisfaction of the parties within the cure period not exceeding ninety (90) days, all the terms of this Agreement shall remain in full force. Any obligation of the Village to make payments during any default period shall be stayed. Any period of default shall not extend the time limits set forth for payments.
Curing Default. Upon receipt of any notice of default, the defaulting party shall immediately undertake to cure within the period as identified in Article 5. If such default is not susceptible to being cured with all due diligence within the stated cure period, the defaulting party shall proceed promptly with all due diligence to cure the same and thereafter to prosecute the curing of such default with all due diligence. The time for the defaulting party to cure the same shall be extended for such periods as may be necessary to cure the same with due diligence. However, the cumulative total of such extension shall not exceed ninety (90) days without the written consent of the non-defaulting party. After cured, the default shall be of no force or effect, and the after cure rights and obligations of the parties shall be the same as existed prior to the giving of notice of the default.
Curing Default. Except as otherwise expressly stated in this Agreement, the defaulting party shall have ten (10) days after receipt of written notice from the other party to cure any monetary default under this Agreement. The defaulting party shall have thirty (30) days after receipt of written notice from the other party or the specific time permitted under this Agreement to cure any default under any other covenant, condition or agreement contained in this Agreement or, in the event that any such default is of a nature such that it cannot be cured within thirty (30) days, the defaulting party shall immediately commence to cure and thereafter diligently pursue such cure to completion. Notwithstanding the foregoing, OPERATOR shall be in default under this Agreement, with or without written notice from CITY, in the event OPERATOR abandons or vacates the Premises for any period exceeding twenty-four (24) hours except if such abandonment or vacating results from a force majeur event or other cause beyond OPERATOR’S control.
Curing Default. 17.01. If Tenant shall default in the observance or performance of any covenant or agreement of this Lease on the part of Tenant to be observed or performed, beyond any period given to Tenant to cure such default, and after reasonable notice and demand, Landlord may perform the same for the account of Tenant, and if Landlord makes any reasonable expenditures or incurs any obligation for the payment of money in connection therewith, including, but not limited to, reasonable attorneys' fees in instituting, prosecuting or defending any action or proceeding, including bankruptcy proceedings involving Tenant as a debtor, such expenditures paid, or obligations incurred, with interest and costs, shall be deemed to be additional rent and shall be paid by Tenant to Landlord within ten (10) days of rendition to Tenant of any xxxx or statement therefor.
Curing Default. (a) The Owner can, at any time (except as limited under 11.12), cure a default by payment to the Trust of any monies owed or performance of any non-monetary obligation under this Lease. To cure the default, the Owner must also pay to the Trust any costs it has incurred in connection with enforcing this Lease.
Curing Default. If any default occurs under or violation of this Agreement, the party not in default or violation shall serve written notice upon the party or parties in default or violation, which notice shall be in writing and shall specify the particular violation or default. The parties reserve the right to cure any violation or default. The parties reserve the right to cure any violation of this Agreement or default by any of them within thirty (30) days from written notice of such default. If such default is so cured to the reasonable satisfaction of the parties within the thirty (30) day period, all the terms of this Agreement shall remain in full force and effect. Any obligation of the Village to make payments during any default period shall be stayed and, any period of default shall not extend the time limits set forth for payments.
Curing Default. Notwithstanding anything to the contrary herein no event of Default shall occur unless the Holder has provided the Maker prior written notice of the potential Event of Default and permitted the Maker thirty (30) business days after such notice to cure such potential Event of Default before it becomes an Event of Default; provided however, (i) the notice given pursuant to this paragraph shall constitute the notice, if any, required in connection with any other cure period provided for herein, and (ii) no Event of Default shall exist unless it has occurred and is continuing.
