Common use of Nonmonetary Defaults Clause in Contracts

Nonmonetary Defaults. (a) As to non-monetary default under Section 7.1.2, , 7.1.22, 7.1.23, or 7.1.24 with respect to the breach of any of the negative covenants set forth in Article 8, there shall be a ten (10) day grace period following notice from Administrative Agent of such default; (b) As to non-monetary default under Section 7.1.16(a), 7.1.28 or 7.2.22, there shall be a five (5) day grace period following notice from Administrative Agent of such default; (c) As to any other non-monetary default, unless there is a specific shorter or longer grace period provided for in this Loan Agreement or in another Loan Document, there shall be a thirty (30) day grace period following notice from Administrative Agent or, if such default would reasonably require more than thirty (30) days to cure or remedy, such longer period of time not to exceed a total of ninety (90) days from Administrative Agent’s notice as may be reasonably required so long as Borrower shall commence reasonable actions to remedy or cure the default within thirty (30) days following such notice and shall diligently prosecute such curative action to completion within such ninety (90) day period. However, where there is an emergency situation in which there is danger to person or property such curative action shall be commenced as promptly as possible. As to breaches of warranties and representations (other than those related to financial information) there shall be a thirty (30) day grace period following notice from Administrative Agent.

Nonmonetary Defaults. (a1) As to non-monetary default under Section 7.1.2, 7.2.2, 7.1.5(i), 7.2.5(i), 7.1.17, 7.1.22, 7.1.23, or 7.1.24 7.1.24, or with respect to the breach of any of the negative covenants set forth in Article 8, there shall be a ten (10) day grace period following notice from Administrative Agent of such default; (b2) As to non-monetary default under Section 7.1.16(a7.1.16(i), 7.1.28 or 7.2.22, there shall be a five (5) day grace period following notice from Administrative Agent of such default; (c3) As to any other non-monetary default, unless there is a specific shorter or longer grace period provided for in this Loan Agreement or in another Loan Document, there shall be a thirty (30) day grace period following notice from Administrative Agent or, if such default would reasonably require more than thirty (30) days to cure or remedy, such longer period of time not to exceed a total of ninety (90) days from Administrative Agent’s 's notice as may be reasonably required so long as Borrower shall commence reasonable actions to remedy or cure the default within thirty (30) days following such notice and shall diligently prosecute such curative action to completion within such ninety (90) day period. However, where there is an emergency situation in which there is danger to person or property such curative action shall be commenced as promptly as possible. As to breaches of warranties and representations (other than those related to financial information) there shall be a thirty (30) day grace period following notice from Administrative Agent.