Cure Period definition
Examples of Cure Period in a sentence
If, during the Cure Period, BNYM receives two or more red RAG ratings for the KPI that triggered a Service Level Deep Default, the Trust may terminate the Agreement upon thirty (30) days’ written notice to BNYM.
Any termination of this Agreement pursuant to this Section 11.3(d) shall become effective immediately if such material breach is not curable, or otherwise at the end of the Cure Period, unless the Breaching Party has cured such material breach prior to the expiration of such Cure Period, or unless such allegedly breaching Party disputes such breach.
Notwithstanding the foregoing, any Defect or Breach which causes any Mortgage Loan not to be a Qualified Mortgage shall be deemed to materially and adversely affect the interests of Certificateholders and the VRR Interest Owners therein, and (subject to the applicable Mortgage Loan Seller’s right to cure such Defect or Breach during the Initial Cure Period) such Mortgage Loan shall be repurchased or substituted for without regard to the Extended Cure Period described in the preceding sentence.
If, during the Cure Period, BNY receives two or more red RAG ratings for the KPI that triggered a Service Level Deep Default, the Customer may terminate the Agreement with respect to that service upon thirty (30) days’ written notice to BNY.
If, during the Cure Period, BNY receives two or more red RAG ratings for the KPI that triggered a Service Level Deep Default, the Funds may terminate the Agreement with respect to that service upon thirty (30) days’ written notice to BNY Mellon.