Curable Nonmonetary Default definition
Examples of Curable Nonmonetary Default in a sentence
However, if it is not reasonably possible to cure the default within thirty days, then the time period for curing the Curable Nonmonetary Default shall be extended, provided that the default is cured as expeditiously as practicable by actions undertaken diligently and in good faith.
However, nothing contained in this Paragraph shall prohibit Landlord from exercising its rights and remedies pursuant to this Lease, or any remedies provided by law, should there occur a Monetary Default or Curable Nonmonetary Default after the occurrence of a Noncurable Default.
If there is a curable default other than a Monetary Default (“Curable Nonmonetary Default”), Landlord shall not exercise any of the rights and remedies provided in in this Lease, or any remedies provided by law, unless the Curable Nonmonetary Default shall have continued for at least thirty days after notice to the Leasehold Mortgagee.
However, nothing contained in this Paragraph 10.06 shall prohibit Lessor from exercising its rights and remedies pursuant to Article XI or other parts of this Lease (subject to the other Paragraphs of this Article X), or any remedies provided by law, should there occur a Monetary Default or Curable Nonmonetary Default after the occurrence of a Noncurable Default.
If the subject Default is a Curable Nonmonetary Default, the Lender shall exercise its option to accelerate only by delivering Notice of acceleration to the Borrower.
The Mortgagor's failure to observe any promise or covenant made in this Mortgage, if the failure is not described in Subsection B (Monetary Defaults) above, in Subsection D (Incurable Nonmonetary Default) below, or elsewhere in this Subsection C (Curable Nonmonetary Default).
If there is a curable default other than a Monetary Default ("Curable Nonmonetary Default"), Lessor shall not exercise any of the rights and remedies provided in Article XI or elsewhere in this Lease, or any remedies provided by law, unless the Curable Nonmonetary Default shall have continued for at least thirty days after notice to all Leasehold Mortgagees.