Common use of Nonmonetary Defaults Clause in Contracts

Nonmonetary Defaults. Notwithstanding any other provision of this Article 24, if the Default complained of, other than a Default for the payment of monies, cannot be rectified or cured within the period requiring rectification or curing, as specified in the written notice relating to the Default, then, as to a Default susceptible to being cured, the Default shall be deemed to be rectified or cured if Tenant, within the notice period, shall have commenced to rectify or cure the Default and shall thereafter diligently and continuously prosecute same to completion, in no event to exceed forty-five (45) days.

Appears in 3 contracts

Sources: Lease Agreement (Boomer Holdings, Inc.), Lease Agreement (Boomer Holdings, Inc.), Lease Agreement (Boomer Holdings, Inc.)