Examples of Curable Non-Monetary Default in a sentence
If the subject Default is a Curable Non-Monetary Default, the Lender shall exercise its option to accelerate only by delivering Notice of acceleration to the Borrower.
If the subject Default has arisen from a failure by the Borrower to make a regular monthly payment of principal and interest, the Lender shall not accelerate the Indebtedness unless the Lender shall have given the Borrower at least three (3) Business Days’ advance Notice of its intent to do so.If the subject Default is a Curable Non-Monetary Default, the Lender shall exercise its option to accelerate only by delivering Notice of acceleration to the Borrower.
If the subject Default has arisen solely from a failure by the Borrower to make a regular scheduled monthly debt service payment, the Lender shall not accelerate the Indebtedness unless the Lender shall have given the Borrower advance Notice of its intent to do so and a cure period of at least three (3) Business Days.If the subject Default is a Curable Non-Monetary Default, the Lender shall exercise its option to accelerate only by delivering Notice of acceleration to the Borrower.
Any notice of default from SWS shall describe the amounts required to fully cure any monetary defaults and describe the nature of any Curable Non-Monetary Default under the Sub-Lease as of the date of the notice, which will be required to be cured by SMTEK.
If SMTEK cures any such monetary default and any Curable Non-Monetary Default, SMTEK shall be deemed to have assumed any and all obligations of MVLP under the Sub-Lease arising from and after the date of such cure and shall be entitled to exercise any and all rights of the lessee under the Sub-Lease.
Any notice of default from SWS shall describe the amounts required to fully cure any monetary defaults and describe the nature of any Curable Non-Monetary Default under the Primary Lease as of the date of the notice, which will be required to be cured by MVLP.
Notwithstanding the foregoing, if the subject Default is a Curable Non-Monetary Default (as defined in the Deed of Trust), the Lender shall exercise its option to accelerate only by delivering Notice of acceleration to the Borrower.
PARKER-HANNIFIN further agrees xx xxxxxx xxxxxrmance by SMTEK of axx xxxxxxxxxx xf MVLP to be performed under the Sub- Lease which SMTEK is capable of performing, including the cure of any monetary default and any Curable Non-Monetary Default.
If MVLP cures any such monetary default and any Curable Non-Monetary Default, MVLP shall be deemed to have assumed any and all obligations of PARKER-HANNIFIN under the Primary Lease arising from and after the xxxx xx xxxx xure, except the obligations described in section 4.3.1 below, and shall be entitled to exercise any and all rights of the lessee under the Primary Lease, except any rights or obligations described in section 4.3.1 below.
A default beyond the passage of any applicable notice and cure periods occurs under the Guaranty.B. Curable Non-Monetary Default.