Common use of Procedure on Default Clause in Contracts

Procedure on Default. 30 4.7.1 Extension of Termination Notice Period............... 30 4.7.1.1 Payment of Monetary Obligations................... 30 4.7.1.2 Foreclosure of Leasehold Mortgage................. 31 4.7.2 Cure of Default...................................... 31 4.7.3 Compliance of Leasehold Mortgagee.................... 32 4.7.4 Leasehold Mortgage Not an Assignment................. 32 4.7.5 Obligation of Leasehold Mortgagee to Repair or Reconstruct........................... 33 4.7.6 Leasehold to Mortgagee's Right to Transfer........................................... 34 4.7.7 Leasehold Mortgagee Transfer a Permitted Sale..................................... 34 4.8

Procedure on Default. 30 24 4.7.1 Extension of Termination Notice Period............... 30 Period ...............................................24 4.7.1.1 Payment of Monetary Obligations................... 30 Obligations ......................................24 4.7.1.2 Foreclosure of Leasehold Mortgage................. 31 Mortgage .........................................24 4.7.2 Cure of Default...................................... 31 Default ........................................24 4.7.3 Compliance of Leasehold Mortgagee.................... 32 Mortgagee ......................25 4.7.4 Leasehold Mortgage Not an Assignment................. 32 Assignment ...........................................26 4.7.5 Obligation of Leasehold Mortgagee to Repair or Reconstruct........................... 33 Reconstruct .............................27 4.7.6 Leasehold to Mortgagee's Right to Transfer........................................... 34 Transfer .............................................27 4.7.7 Leasehold Mortgagee Transfer a Permitted Sale..................................... 34 4.8Sale .......................................28 ii