Common use of Extended Cure Period Clause in Contracts

Extended Cure Period. If any default by Lessee or an Assignee or Tenant under this Agreement cannot be cured without Landowner obtaining possession of all or part of the Property and/or all or part of the Solarpower Facilities and/or all or part of Lessee’s or another Assignee’s or Tenant’s interest in this Agreement, then any such default shall be deemed remedied if (i) within sixty (60) days after receiving notice from Landowner as set forth in Section 12.2 hereof, either Lessee or an Assignee or Tenant shall have acquired possession of all or part of the Property and/or all or part of the Solarpower Facilities and/or all or part of such interest in this Agreement, or shall have commenced appropriate judicial or nonjudicial proceedings to obtain the same; and (ii) Lessee or the Assignee or Tenant, as the case may be, shall be in the process of diligently prosecuting any such proceedings to completion; and (iii) after gaining possession of all or part of the Property and/or all or part of the Solarpower Facilities and/or all or part of such interest in this Agreement, Lessee or the Assignee or Tenant performs all other obligations as and when the same are due in accordance with the terms of this Agreement. If Lessee or an Assignee or Tenant is prohibited by any process or injunction issued by any court or by reason of any action by any court having jurisdiction over any bankruptcy or insolvency proceeding involving Lessee or any defaulting Assignee or Tenant, as the case may be, from commencing or prosecuting the proceedings described above, the 60-day period specified above for commencing such proceeding shall be extended for the period of such prohibition.

Extended Cure Period. If any default Default by Lessee or an Assignee or Tenant under this Agreement Lease cannot be cured without Landowner the Mortgagee obtaining possession of all or part of the Property and/or all or part of the Solarpower Facilities Wind Turbine Assets and/or all or part of Lessee’s or another Assignee’s or Tenant’s interest in this AgreementLease, then any such default Default shall be deemed remedied if if: (i) within sixty (60) days after receiving notice from Landowner as set forth the cure period granted to Mortgagee in Section 12.2 hereof14.3 above, either Lessee Mortgagee or an Assignee or Tenant its assignee shall have acquired possession of all or part of the Property and/or all or part of the Solarpower Facilities Wind Turbine Assets and/or all or part of such interest in this AgreementLease, or shall have commenced appropriate judicial or nonjudicial proceedings to obtain the same; and (ii) Lessee the Mortgagee or the Assignee or Tenantits assignee, as the case may be, shall be in the process of diligently prosecuting any such proceedings to completion; and (iii) after gaining possession of all or part of the Property and/or all or part of the Solarpower Facilities Wind Turbine Assets and/or all or part of such interest in this AgreementLease, Lessee the Mortgagee or its assignee cures all Defaults under the Assignee or Tenant Lease to the extent required in Section 14.5 below, and performs all other obligations as and when the same are due in accordance with the terms of this AgreementLease, but only for the period attributable to its possession of the Property. If Lessee a Mortgagee or an Assignee or Tenant its assignee is prohibited by any process or injunction issued by any court or by reason of any action by any court having jurisdiction over any bankruptcy or insolvency proceeding involving Lessee or any defaulting Assignee or Tenantassignee, as the case may be, from commencing or prosecuting the proceedings described above, the 60-day period specified above for commencing such proceeding shall be extended for the period of such prohibition.

Extended Cure Period. If any default by Lessee Grantee or an Assignee or Tenant under this Agreement cannot be cured without Landowner obtaining possession of all or part of the Property and/or all or part of the Solarpower Windpower Facilities and/or all or part of LesseeGrantee’s or another Assignee’s or Tenant’s interest in this Agreementthe Easement, then any such default shall be deemed remedied if if: (ia) within sixty one hundred twenty (60120) days after receiving notice from Landowner Owner as set forth in Section 12.2 hereof, either Lessee Grantee or an Assignee or Tenant shall have acquired possession of all or part of the Property and/or all or part of the Solarpower Windpower Facilities and/or all or part of such interest in this Agreementthe Easement, or shall have commenced appropriate judicial or nonjudicial proceedings to obtain the same; and (iib) Lessee Grantee or the Assignee or TenantAssignee, as the case may be, shall be in the process of diligently prosecuting any such proceedings to completion; , and (iiic) after gaining possession of all or part of the Property and/or all or part of the Solarpower Windpower Facilities and/or all or part of such interest in this Agreementthe Easement, Lessee Grantee or the Assignee or Tenant performs all other obligations as and when the same are due (to the extent then practicable) in accordance with the terms of this Agreement. If Lessee Grantee or an Assignee or Tenant is prohibited by any process or injunction issued by any court or by reason of any action by any court having jurisdiction over any bankruptcy or insolvency proceeding involving Lessee Grantee or any defaulting Assignee or TenantAssignee, as the case may be, from commencing or prosecuting the proceedings described above, the 60-one hundred twenty (120) day period specified above for commencing such proceeding shall be extended for the period of such prohibition. (Comment: Grantee reiterates and enforces its opportunity to cure any default before the Easement can be terminated for default. This provision along with others, make it difficult for an Owner to end the easement even if Grantee defaults.)

Extended Cure Period. If any default by Lessee or an Assignee or Tenant under this Agreement cannot be cured without Landowner obtaining possession of all or part of the Property and/or all or part of the Solarpower Solar Energy Facilities and/or all or part of Lessee’s or another Assignee’s or Tenant’s interest in this Agreement, then any such default shall be deemed remedied if (i) within sixty (60) days after receiving notice from Landowner as set forth in Section 12.2 hereof, either Lessee or an Assignee or Tenant shall have acquired possession of all or part of the Property and/or all or part of the Solarpower Solar Energy Facilities and/or all or part of such interest in this Agreement, or shall have commenced appropriate judicial or nonjudicial proceedings to obtain the same; and (ii) Lessee or the Assignee or Tenant, as the case may be, shall be in the process of diligently prosecuting any such proceedings to completion; and (iii) after gaining possession of all or part of the Property and/or all or part of the Solarpower Solar Energy Facilities and/or all or part of such interest in this Agreement, Lessee or the Assignee or Tenant performs all other obligations as and when the same are due in accordance with the terms of this Agreement. If Lessee or an Assignee or Tenant is prohibited by any process or injunction issued by any court or by reason of any action by any court having jurisdiction over any bankruptcy or insolvency proceeding involving Lessee or any defaulting Assignee or Tenant, as the case may be, from commencing or prosecuting the proceedings described above, the 60-day period specified above for commencing such proceeding shall be extended for the period of such prohibition.

Extended Cure Period. If any default Default by Lessee or an Assignee or Tenant under this Agreement cannot be cured without Landowner the Mortgagee obtaining possession of all or part of the Property Premises, and/or all or part of the Solarpower Facilities Improvements and/or all or part of Lessee’s or another Assignee’s or Tenant’s interest in this Agreement, then any such default Default shall be deemed remedied if if: (i) Mortgagee or its assignee cures any outstanding monetary Default within sixty thirty (6030) calendar days after receiving notice from Landowner as set forth of Notice of the Event of Default; (ii) within the cure period granted to Mortgagee in Section 12.2 hereof14(a) above, either Lessee Mortgagee or an Assignee or Tenant its assignee shall have acquired possession of all or part of the Property Premises and/or all or part of the Solarpower Facilities Improvements and/or all or part of such interest in this Agreement, or shall have commenced appropriate judicial or nonjudicial non-judicial proceedings to obtain the same; and (iiiii) Lessee the Mortgagee or the Assignee or Tenantits assignee, as the case may be, shall be in the process of diligently prosecuting any such proceedings to completion; and (iiiiv) after gaining possession of all or part of the Property Premises and/or all or part of the Solarpower Facilities Improvements and/or all or part of such interest in this Agreement, Lessee the Mortgagee or its assignee cures all Defaults under the Assignee or Tenant Agreement, and performs all other obligations as and when the same are due in accordance with the terms of this Agreement. If Lessee a Mortgagee or an Assignee or Tenant its assignee is prohibited by any process or injunction issued by any court or by reason of any action by any court having jurisdiction over any bankruptcy or insolvency proceeding involving Lessee Tenant or any defaulting Assignee or Tenantassignee, as the case may be, from commencing or prosecuting the proceedings described above, the 60-day period specified above for commencing such proceeding shall be extended for the period of such prohibition.

Extended Cure Period. If any default by Lessee Grantee or an Assignee or Tenant under this Agreement cannot be cured without Landowner obtaining possession of all or part of the Property and/or all or part of the Solarpower Windpower Facilities and/or all or part of LesseeGrantee’s or another Assignee’s or Tenant’s interest in this Agreementthe Easement, then any such default shall be deemed remedied if if: (ia) within sixty one hundred twenty (60120) days after receiving notice from Landowner Owner as set forth in Section 12.2 13.2 hereof, either Lessee Grantee or an Assignee or Tenant shall have acquired possession of all or part of the Property and/or all or part of the Solarpower Windpower Facilities and/or all or part of such interest in this Agreementthe Easement, or shall have commenced appropriate judicial or nonjudicial proceedings to obtain the same; and (iib) Lessee Grantee or the Assignee or TenantAssignee, as the case may be, shall be in the process of diligently prosecuting any such proceedings to completion; , and (iiic) after gaining possession of all or part of the Property and/or all or part of the Solarpower Windpower Facilities and/or all or part of such interest in this Agreementthe Easement, Lessee Grantee or the Assignee or Tenant performs all other obligations as and when the same are due (to the extent then practicable) in accordance with the terms of this Agreement. If Lessee Grantee or an Assignee or Tenant is prohibited by any process or injunction issued by any court or by reason of any action by any court having jurisdiction over any bankruptcy or insolvency proceeding involving Lessee Grantee or any defaulting Assignee or TenantAssignee, as the case may be, from commencing or prosecuting the proceedings described above, the 60-one hundred twenty (120) day period specified above for commencing such proceeding shall be extended for the period of such prohibition.