Curable Non-Monetary Default definition

Curable Non-Monetary Default means any of the acts, omissions, or circumstances specified in Subsection 10.3 below.
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Curable Non-Monetary Default means a non-monetary default that is reasonably susceptible of being cured by SMTEK in that the required performance is not something unique to MVLP and the following shall not be considered a Curable Non-Monetary Default: (a) a default arising on account of MVLP filing a bankruptcy or similar proceeding, provided this exception shall not be construed as waiving or changing the requirement for SMTEK to cure all monetary defaults, including those arising during any bankruptcy or similar proceeding, in order to continue in occupancy; (b) MVLP 's violation of any Hazardous Materials requirements of the Sub-Lease provided this exception shall not be deemed to waive or change the requirement of SMTEK to remediate any Hazardous Materials contamination of the Premises as required by the Sub-Lease in order to continue in occupancy; (c) MVLP's violation of any provisions of the Sub-Lease concerning the assignment of the Sub-Lease or subleasing of the Premises; (d) MVLP 's violation of any provisions of the Sub-Lease requiring MVLP to deliver financial statements, reports or other information unique to MVLP's operation and not capable of delivery by SMTEK; or (e) Waste to the Premises caused by MVLP. The term "Waste " means injury or damage to the Premises caused by the malicious act or gross neglect of MVLP, but does not include ordinary repairs and maintenance not performed by MVLP, which shall remain the responsibility of SMTEK to cure to continue in occupancy.
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Curable Non-Monetary Default means a non-monetary default that is reasonably susceptible of being cured by MVLP in that the required performance is not something unique to PARKER-HANNIFIN and the following shall not be considered a Curablx Xxx-Xxxxxxxx Default: (a) a default arising on account of PARKER-HANNIFIN filing a bankruptcy or similar proceeding, providex xxxx xxxxxxxxn shall not be construed as waiving or changing the requirement for MVLP to cure all monetary defaults, including those arising during any bankruptcy or similar proceeding in order to continue in occupancy, (b) PARKER-HANNIFIN 's violation of any Hazardous Materials requiremenxx xx xxx Xxxxxry Lease, provided this exception shall not be deemed to waive or change the requirement of MVLP to remediate Hazardous Materials contamination of the Premises in order to continue in occupancy; (c) PARKER-HANNIFIN's violation of any provisions of the Primary Lease xxxxxxxxxx xxx xssignment of the Primary Lease or subleasing of the Premises; (d) PARKER-HANNIFIN 's violation of any provisions of the Primary Leasx xxxxxxxxx XXXKER-HANNIFIN to deliver financial statements, reports or other xxxxxxxxxxx xxxque to PARKER-HANNIFIN's operation and not capable of delivery by MVLP; (x) XXXXXX-XXXXXXXN's violation of the provisions of the Primary Leasx xxxxxxxxx xx xection 4.3.1 below; or (f) Waste to the Premises caused by PARKER-HANNIFIN. The term "Waste " means injury or damage to the Xxxxxxxx xxxxxd by the malicious act or gross neglect of PARKER-HANNIFIN, but does not include ordinary repairs and maintenxxxx xxx xxxxxxmed by PARKER- HANNIFIN, which shall remain the responsibility of MVLP to xxxx xx xxxxxxxe in occupancy.
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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.

  • 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.

  • 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.

  • 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.

  • Genotypes with bi significantly < 1 and X > µi have been considered to have above average stability.


More Definitions of Curable Non-Monetary Default

Curable Non-Monetary Default means any of the acts, omissions, or circumstances specified in Subsection 10.3 below. “Default” means any of the acts, omissions, or circumstances specified in Section 10 below.
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Related to Curable Non-Monetary Default

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

  • Senior Nonmonetary Default means the occurrence or existence and continuance of any event of default with respect to any Designated Senior Debt, other than a Senior Payment Default, permitting the holders of such Designated Senior Debt (or a trustee or agent on behalf of the holders thereof) to declare such Designated Senior Debt due and payable prior to the date on which it would otherwise become due and payable. In the event that, notwithstanding the foregoing, the Company shall make any Securities Payment to the Trustee or any Holder prohibited by the foregoing provisions of this Section, and if such fact shall, at or prior to the time of such Securities Payment, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such Securities Payment shall be paid over and delivered forthwith to the Company. The provisions of this Section shall not apply to any Securities Payment with respect to which Section 1203 would be applicable.

  • Non-Monetary Default Cure Period shall have the meaning assigned to such term in Section 11(d).

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p) of this Note.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • Guarantor Default means any condition or event that with the giving of notice or lapse of time or both would, unless cured or waived, become a Guarantor Event of Default.

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Minor Default means any Event of Default that is not a Major Default.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Actionable Default means the occurrence of any of the following:

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Issuer Event of Default means the occurrence of any of the following events: