Financing Party Cure Rights. The Seller may not exercise its right to terminate this Contract under Section 21.5 unless the Seller delivers to the Financing Parties notice of the Buyer’s failure to cure the default (a “Default Notice”) and the Seller’s intent to terminate as a result thereof at the same time the Seller delivers notice thereof to the Buyer. Each Financing Party or one or more of its designees shall have the right to cure the Buyer’s default within sixty (60) days after the date the Financing Party receives such Default Notice; provided, however, that if the nature of any non-monetary default by the Buyer is such that it cannot be cured by the Financing Party or one or more of its designees without having taken possession of one or more of the Projects, the time provided herein to remedy such default shall be extended for such period of time as is reasonably necessary for the Financing Party or one or more of its designees to lawfully obtain possession of, and be legally entitled to operate, such Projects. If the Financing Parties intend, or cause one or more of their designees, to assume this Contract, they shall provide notice thereof to the Seller within sixty (60) days after receipt of the Default Notice. For the avoidance of doubt, the Financing Party may assign part or all of the rights under this Contract, including the Equipment and related services, to one or more designees without the Seller’s consent. Once any default of the Buyer under this Contract is cured by one or more Financing Parties or one or more of their designees, the Seller’s rights to terminate this Contract and to collect termination charges as a result of such default shall be of no further force and effect.
Financing Party Cure Rights. Lessor shall not exercise any right to terminate or suspend this Lease unless Lessor has given prior written notice to each Financing Party of which Lessor has notice. Lessor’s notice of an intent to terminate or suspend must specify the condition giving rise to such right. Financing Party has the longer of thirty (30) days and the cure period allowed for a default of that type under this Lease to cure the condition; provided that if the condition cannot be cured within such time but can be cured within the extended period, Financing Party may have up to an additional ninety (90) days to cure if Financing Party commences to cure the condition within the thirty (30) day period and diligently pursues the cure thereafter. Lessor’s and Xxxxxx’s obligations under this Lease shall otherwise remain in effect, and Lessor and Lessee shall be required to fully perform all of their respective obligations under this Lease during any cure period.
Financing Party Cure Rights. The Financing Parties or the collateral agent acting on their behalf under any Financing shall have the right (but not the obligation) for sixty (60) days after the expiration of the deadline for performance or cure (or thirty (30) days in the event of an Event of Default involving a monetary obligation), including any applicable grace period provided in Section 12.1 (Events of Default), to prevent termination of this Agreement by curing the Event of Default on behalf of Seller; provided that such sixty (60) day period shall be extended for up to an additional ninety (90) days if possession of the Plant is required for the Financing Parties or collateral agent acting on their behalf to effect a cure of an Event of Default. Notwithstanding the foregoing, following the expiration of the cure periods granted to Seller under this Agreement with respect to the breach of any monetary obligation, Buyer shall have the right to suspend its obligation to purchase Conforming SNG under this Agreement until such monetary obligation is cured. Buyer agrees to provide to the Financing Parties or collateral agent acting on their behalf under a Financing a consent to assignment and estoppel certificate as reasonably requested by such persons.
Financing Party Cure Rights. If at any time any Financing Party (or Tenant on behalf of a Financing Party) shall have given to Landlord, a notice specifying the name and address of such Financing Party for purposes of receiving notice, Landlord shall send by personal delivery or by certified or registered mail or overnight courier service to such Financing Party a copy of each notice of default or other notice at the same time as and whenever any such notice of default or other notice shall thereafter be given by Landlord to Tenant, addressed to such Financing Party at the address last furnished to Landlord. No notice of default by Landlord shall be deemed to have been given unless and until a copy thereof shall have been so given to such Financing Party. Tenant irrevocably directs that Landlord accept, and Xxxxxxxx agrees to accept, performance and compliance by any Financing Party (or its designee) of and with any term, covenant or condition on Tenant’s part to be kept, observed or performed under this Lease with the same force and effect as though kept, observed or performed by Xxxxxx. The Financing Party shall have the same period after delivery of notice of default to remedy the default, or cause the same to be remedied, but not the obligation to so remedy or commence to remedy, as is given to Tenant, plus the following additional time periods following the expiration of Tenant’s cure period described in Section 16 below: (i) thirty (30) days in the event of a monetary default; and (ii) ninety (90) days in the event of a non-monetary default. A Financing Party shall have the absolute right to enforce its lien and acquire title to the leasehold estate (directly or through a designee) by any lawful means, including foreclosure or assignment in lieu of foreclosure, and thereafter assign or transfer the leasehold estate to a third party. The commencement of a judicial or non-judicial foreclosure proceedings by a Financing Party shall be deemed the commencement of a non-monetary cure provided that the Financing Party thereafter diligently prosecutes the same and upon acquisition by either the Financing Party or any other direct purchaser or direct transferee of Tenant’s interest under this Lease, whether at a judicial foreclosure, trustee’s sale or by deed or assignment in lieu of foreclosure, such Financing Party, purchaser or transferee commences within ninety (90) days of acquiring such interest, and thereafter diligently prosecutes to completion, curing all defaults hereunder reas...
Financing Party Cure Rights. Any Financing Party has the right (but not the obligation), after receipt of a notice pursuant to Article 14 or Article 15, to cure any failure to pay by and on behalf of an Owner to which it has provided Financing, on the same terms and conditions that such Owner may cure such failure to pay.
Financing Party Cure Rights. Operator’s right to exercise the option to terminate this Agreement pursuant to Section 2.2 is subject to Operator first delivering to the Financing Parties, simultaneously with delivery thereof to Owner, written notice of Owner’s failure to cure the default and Operator’s intent to terminate as a result thereof. Each Financing Party shall have the option to cure such Owner Event of Default within thirty (30) days after the cure period otherwise provided in Section 16.2 or such additional period as may reasonably be required or to cause the Financing Parties’ designee to assume this Agreement but in no event to exceed ninety (90) days; provided, however, that the Owner Event of Default described in Section 16.2.1 shall only be curable within thirty (30) days from the receipt by the Financing Parties of such notice to cure such payment default. In any such case, Operator’s right to terminate this Agreement shall be of no further force and effect upon the cure by the Financing Parties of such default. If the Financing Parties desire to cause their designee to assume all rights and obligations of this Agreement, they shall provide written notice to that effect within the cure period permitted by this Section 16.3.
Financing Party Cure Rights. Turbine Supplier’s right to terminate this Master Agreement pursuant to Section 15.3 is subject to Turbine Supplier’s first delivering to the Financing Parties, simultaneously with delivery thereof to Buyer, notice of Buyer’s failure to cure the default and Turbine Supplier’s intent to terminate as a result thereof. The Financing Parties shall have the option (a) to cure such Buyer Event of Default within thirty (30) Days after receipt of such notice, or such further period as may reasonably be required, not to exceed sixty (60) Days, and/or (b) to assume or to cause their designee to assume Buyer’s obligations under this Master Agreement.. If the Financing Parties desire to cause their designee to assume this Master Agreement, they shall provide notice to that effect within thirty (30) Days after receipt of Turbine Supplier’s Notice to the Financing Parties of the Buyer Event of Default. In either such case, Turbine Supplier’s right to terminate this Master Agreement shall cease upon the cure by the Financing Parties of such Buyer Event of Default.
Financing Party Cure Rights. Seller shall, conditioned upon prior receipt of the name and address of the Financing Parties for the Project, give such Party or Parties notice of any default at the same time as providing notice to the defaulting Party under Section 13.3(a). Following receipt of such notice, the Financing Parties shall, for the same period provided to the defaulting Party, have the right (but not the obligation) to cure such default, and if so cured, this Agreement shall continue in full force and effect.
Financing Party Cure Rights. Host shall not exercise any right to terminate or suspend this Agreement unless Host has given prior written notice to each Financing Party of which Host has written notice. Host’s notice of an intent to terminate or suspend must specify the condition giving rise to such right. Financing Party shall have the cure period allowed for a default of that type under this Agreement to cure the condition. Host’s and Provider’s obligations under this Agreement shall otherwise remain in effect, and Host and Provider shall be required to fully perform all of their respective obligations under this Agreement during any cure period.
