Common use of Limitation of Cure Periods Clause in Contracts

Limitation of Cure Periods. Notwithstanding anything contained in §12.1 to the contrary, (i) no Event of Default shall exist hereunder upon the occurrence of any failure described in §12.1(a) or §12.1(b) in the event that Borrower cures such default within five (5) days following receipt of written notice of such default, provided, however, that Borrower shall not be entitled to receive more than two (2) notices in the aggregate pursuant to this clause (i) in any period of 365 days ending on the date of any such occurrence of default, and provided further that no such cure period shall apply to any payments due upon the maturity of the Note, and (ii) no Event of Default shall exist hereunder upon the occurrence of any failure described in §12.1(d) or §12.1(e) in the event that Borrower cures such default with thirty (30) days following receipt of written notice of such default, provided that the provisions of this clause (ii) shall not pertain to defaults consisting of a failure to comply with §3.2 or §8 or to any default excluded from any provision for cure of defaults contained in any other of the Loan Documents. Notwithstanding anything in this Agreement or any other Loan Document to the contrary, any reference in this Agreement or any other Loan Document to “the continuance of a default” or “the continuance of an Event of Default” or any similar phrase shall not create or be deemed to create any right on the part of Borrower or any other party to cure any default following the expiration of any applicable grace or notice and cure period. In the event that Borrower obtains any knowledge that any representation or warranty made by or on behalf of Borrower, the Guarantors or Owner in this Agreement or any of the other Loan Documents to its knowledge and belief shall be untrue or misleading, Borrower shall promptly notify Lender in writing of the same and shall, within thirty (30) days after learning such representation or warranty is untrue or misleading, take such actions as are required to cause such warranty or representation to be correct.

Limitation of Cure Periods. Notwithstanding anything contained in §12.1 to the contrary, (i) no Event of Default shall exist hereunder upon the occurrence of any failure described in §12.1(a) or §12.1(b) in the event that Borrower cures such default within five (5) days following receipt of written notice of such default, provided, however, that Borrower shall not be entitled to receive more than two (2) notices in the aggregate pursuant to this clause (i) in any period of 365 days ending on the date of any such occurrence of default, and provided further that no such cure period shall apply to any payments due upon the maturity of the Note, and (ii) no Event of Default shall exist hereunder upon the occurrence of any failure described in §12.1(d) or §12.1(e) in the event that Borrower cures such default with thirty (30) days following receipt of written notice of such default, provided that the provisions of this clause (ii) shall not pertain to defaults consisting of a failure to comply with §3.2 or §8 or to any default excluded from any provision for cure of defaults contained in any other of the Loan Documents. Notwithstanding anything in this Agreement or any other Loan Document to the contrary, any reference in this Agreement or any other Loan Document to “the continuance of a default” or “the continuance of an Event of Default” or any similar phrase shall not create or be deemed to create any right on the part of Borrower or any other party to cure any default following the expiration of any applicable grace or notice and cure period. In the event that Borrower obtains any knowledge that any representation or warranty made by or on behalf of Borrower, the Guarantors or Owner Assignor of a Borrower in this Agreement or any of the other Loan Documents to its knowledge and belief shall be untrue or misleading, Borrower shall promptly notify Lender in writing of the same and shall, within thirty (30) days after learning such representation or warranty is untrue or misleading, take such actions as are required to cause such warranty or representation to be correct.

Limitation of Cure Periods. Notwithstanding anything contained in §12.1 to the contrary, (i) no Event of Default shall exist hereunder upon the occurrence of any failure described in §12.1(a) or §12.1(b) in the event that Borrower cures such default within five (5) days following receipt of written notice of such default, provided, however, that Borrower shall not be entitled to receive more than two (2) notices in the aggregate pursuant to this clause (i) in any period of 365 days ending on the date of any such occurrence of default, and provided further that no such cure period shall apply to any payments due upon the maturity of the Note, and (ii) no Event of Default shall exist hereunder upon the occurrence of any failure described in §12.1(d) or §12.1(e) in the event that Borrower cures such default with thirty (30) days following receipt of written notice of such default, provided or if such Default is of such a nature that it cannot be cured within such thirty (30) day period, in the event that Borrower commences such cure within such thirty (30) day period and thereafter diligently, continuously and in good faith prosecute such cure to completion, and in any event cures such Default within ninety (90) days following receipt of such written notice of Default. The provisions of this clause (ii) shall not pertain to defaults consisting of a failure to comply with §3.2 or §8 or to any default excluded from any provision for cure of defaults contained in any other of the Loan Documents. Notwithstanding anything in this Agreement or any other Loan Document to the contrary, any reference in this Agreement or any other Loan Document to “the continuance of a default” or “the continuance of an Event of Default” or any similar phrase shall not create or be deemed to create any right on the part of Borrower or any other party to cure any default following the expiration of any applicable grace or notice and cure period. In the event that Borrower obtains any knowledge that any representation or warranty made by or on behalf of Borrower, the Guarantors or Owner in this Agreement or any of the other Loan Documents to its knowledge and belief shall be untrue or misleading, Borrower shall promptly notify Lender in writing of the same and shall, within thirty (30) days after learning such representation or warranty is untrue or misleading, take such actions as are required to cause such warranty or representation to be correct.