Possession Required. If the Event of Default specified in Section 10.3.2(a)(ii) cannot be cured until the Permitted Lender has obtained possession of the Premises (or, in the case of a Permitted Mezzanine Lender, control of Tenant) through foreclosure or otherwise, and if the Permitted Lender has delivered to Landlord within the ninety- (90-) day cure period specified in Section 10.3.2(a)(ii) Permitted Lender's written commitment (in form acceptable to Landlord in its sole discretion) to use diligent efforts to cure (or to cause Tenant to cure) such Event of Default with due diligence upon obtaining possession of the Premises (or, in the case of a Permitted Mezzanine Lender, control of Tenant) through foreclosure or otherwise, then the Permitted Lender shall have such additional time (but in no event to exceed two hundred and seventy (270) days from the date of obtaining possession of the Premises) as is reasonably necessary to cure (or to cause Tenant to cure) such Event of Default, but only if the Permitted Lender: (i) unless judicially stayed, commences the judicial or other foreclosure of the Permitted Encumbrance within ninety (90) days from receipt of written notice of the occurrence of an Event of Default under this Lease;
Possession Required. If the default or Event of Default specified in the applicable Cure Period Trigger Notice cannot be cured until the applicable Senior Permitted Lender has obtained possession of the Facility (or, in the case of a Senior Permitted Mezzanine Lender, control of Tenant) through foreclosure or otherwise, and if a Permitted Lender has delivered to the Public Entities, within ninety (90) days following its receipt of the Cure Period Trigger Notice (or, in the case of a Senior Permitted Mortgage Lender, sixty (60) days after the applicable Permitted Mezzanine Lender Failure Notice (defined below) if a Permitted Equity Financing Encumbrance existed at the time of the applicable Event of Default), such Senior Permitted Lender’s written intent (in a form approved by the Public Entities, which approval shall not be unreasonably withheld, conditioned or delayed) to use diligent efforts to cure (or to cause Developer to cure) such Event of Default with due diligence upon obtaining possession of the Facility (or, in the case of a Senior Permitted Mezzanine Lender, control of Tenant) through foreclosure or otherwise, then such Senior Permitted Lender shall have such additional time (but in no event to exceed one hundred and fifty (150) days from the date such Senior Permitted Lender obtains possession of the Facility or control of Developer, as applicable as is reasonably necessary to cure (or to cause Tenant to cure) such default or Event of Default (unless such default or Event of Default arises from Developer’s failure to timely Complete, in which case the provisions of Section 7(b) of this Annex I) shall govern the cure of such default or Event of Default), but only if such Senior Permitted Lender: (i) unless judicially stayed, commences and prosecutes its judicial or other foreclosure with due diligence, which foreclosure, (I) in the case of a Senior Permitted Mezzanine Lender, shall be completed within ninety (90) days following receipt of the applicable Cure Period Trigger Notice, and (II) in the case of a Senior Permitted Mortgage Lender, shall be completed within the one hundred eighty (180) days following receipt of a Permitted Mezzanine Lender Failure Notice (provided, that if there is no Permitted Equity Financing Encumbrance at the time of the applicable Event of Default, then such 180-day period shall commence upon Senior Permitted Mortgage Lender’s receipt of the applicable Cure Period Trigger Notice); and (ii) such Senior Permitted Lender cures, during the...
