Curable Default definition
Curable Default shall have the meaning set forth in Section 6.5(d).
Curable Default has the meaning set forth in Section 8.3.
Curable Default means any default under this Sublease which is not an incurable default. In the event of any curable default under this Sublease, and if prior to the expiration of the applicable grace period specified in subparagraph (2) of this Section, the Subleasehold Mortgagee shall give Sublessor written notice that it intends to undertake the curing of such default, or to cause the same to be cured, or to exercise its rights to acquire the leasehold interest of Sublessee by foreclosure or otherwise, and shall immediately commence and then proceed with all due diligence to do so, whether by performance on behalf of Sublessee of its obligations under this Sublease, or by entry on the Subleased Premises by foreclosure or otherwise, then Sublessor will not terminate or take any action to effect a termination of this Sublease or re-enter, take possession of or relet the Subleased Premises or similarly enforce performance of this Sublease so long as the Subleasehold Mortgagee is, with all due diligence and in good faith, engaged in the curing of such default, or effecting such foreclosure, provided, however, that the Subleasehold Mortgagee shall not be required to continue such possession or continue such foreclosure proceedings if such default shall be cured. Nothing herein shall preclude Sublessor from terminating this Sublease with respect to any additional default which shall occur during the aforesaid period of forbearance and not be remedied within the period of grace, if any, applicable to any such additional default provided that Sublessor provides the Subleasehold Mortgagee with notice and opportunity to cure any such additional default.
Examples of Curable Default in a sentence
Subject to the late charges and interest due under Section 14.8, Landlord agrees that it shall not invoke its remedies under this Section 14 if Tenant cures a Curable Default (defined below) within the applicable cure period (set forth in Section 14.2 below).
If a Curable Default occurs and Tenant fails to cure the default within the applicable cure period or if any other default occurs, Landlord may, immediately or at any time thereafter, and without preventing Landlord from exercising any other right or remedy, elect to terminate this Lease by notice, by lawful entry or otherwise, whereupon Landlord shall be entitled to recover possession of the Premises from Tenant and those claiming through or under Tenant.
An Involuntary Financial Distress Default is a Curable Default and the cure periods are set forth in Section 14.9. A Voluntary Financial Distress Default is not a Curable Default.
If Tenant fails to provide the requested estoppel certificate (Section 15.3) or subordination agreement (Section 15.1) within the time period provided, it shall be a Curable Default and the cure period shall be three business days from the second request.
If Tenant fails to maintain the required insurance, it is a Curable Default and the cure period is three business days after the date the failure occurs.
More Definitions of Curable Default
Curable Default shall have the meaning given to such term in Section 7.01.
Curable Default shall have the meaning set forth in Section 3(d)(vi) of Article XIV.
Curable Default has the meaning set forth in Section 4.2(g).
Curable Default as used herein, means any default which is not an Incurable Default. In the event of any Curable Default by the Lessee under any of the provisions of this Lease and prior to the expiration of the Extended Grace Period, the Leasehold Mortgagee may, at its option, (a) give the Authority written notice that it intends to undertake the curing of such Curable Default or cause the same to be cured, or to exercise its rights to acquire the interest of the Lessee in this Lease by foreclosure or otherwise, and (b) tender payment of all rental fees and other charges (except Project Rental) then due and owing to the Authority prior to the expiration of the Extended Grace Period. In the event the Leasehold Mortgagee does not give such notice to the Authority and tender such payments to the Authority, the Authority may proceed to exercise the remedies available to it under Article XII, B. of this Lease, subject nevertheless to the provisions of subsection B(5) below. Upon the giving of such notice by the Leasehold Mortgagee, the Authority will not terminate or take any action to effectuate a termination of this Lease nor reenter, take possession or relet the Aircraft Maintenance Premises or otherwise enforce performance of this Lease for so long as (a) the Leasehold Mortgagee is with reasonable due diligence and in good faith engaged in effecting a foreclosure of the Leasehold Mortgage or the curing of such Curable Default and (b) all rental fees and other charges (with the exception of Project Rental) due and owing to the Authority are paid; provided that the Leasehold Mortgagee shall not be required to continue such foreclosure proceedings or cause such rental fees and other charges to be paid after such Curable Default is cured. In the event the nature of any such Curable Default is such that the Leasehold Mortgagee must take possession of the Aircraft Maintenance Premises in order to cure such Curable Default, or there is an official restraint, such as judicial order or administrative order applicable to the Leasehold Mortgagee, including without limitation, an automatic stay, the running of all applicable cure periods (including the Extended Grace Period) shall be tolled so long as rental fees and other charges (with the exception of Project Rental) due and owing the Authority are paid and the Leasehold Mortgagee is diligently attempting to obtain relief from such judicial restraint to exercise its remedies under the Leasehold Mortgage. Nothing herein shall preclu...
Curable Default means any failure by Borrower to observe, perform or comply with any Affirmative Covenant contained in Section 6 of this Agreement (other than a failure to perform any covenant relating to the payment of principal, interest or late charges hereunder, under the Notes or under any of the Other Agreements or any covenant contained in Subsections 6.09 or 6.12 of this Agreement) which, in Bank's good faith judgment, is curable within such period. Notwithstanding the foregoing, (a) Bank shall have no obligation to provide Borrower with written notice of the occurrence of any Curable Default of which Borrower has (or in the exercise of reasonable business practices should have) knowledge, in which case the applicable Cure Period shall commence on the occurrence of such Default, and (b) no default under this Agreement or the Other Agreements shall be a Curable Default if, in Bank's good faith judgment, giving effect to the Cure Period would materially impair or further impair the prospect for payment in full of the Obligations or any rights of Bank with respect to any of the Collateral, or would increase Bank's risk under the Agreement and/or the Other Agreements.
Curable Default means any Default which, in Bank’s reasonable discretion, is capable of being cured within the cure period provided in Section 8.1(B) with respect to such Default.
Curable Default has the meaning specified in Section 8.04.