Incurable Default means a Default that is by its nature or by reason of prevailing circumstances incapable of being cured in all material respects, but does not include any Default that is a failure to carry out a particular obligation by a particular date or within a particular period where it is possible to subsequently perform that obligation, albeit not by or within the relevant date or period;
Incurable Default. Collectively or individually, as the context may require, the defaults referred to in Sections 16.1(c), 16.1(d), 16.1(e), 16.1(h) (as to judgments against Guarantor only), 16.1(i), 16.1(n) and 16.1(q) and any other defaults not reasonably susceptible to being cured by a Permitted Leasehold Mortgagee or a subsequent owner of the Leasehold Estate through foreclosure thereof.
Incurable Default means (i) any voluntary or involuntary sale, assignment, encumbering or transfer in violation of the covenants of Section 30 the Security Deed or (ii) if Maker or its general partner should make an assignment for the benefit of creditors, become insolvent, or file a petition in bankruptcy (including but not limited to, a petition seeking a rearrangement or reorganization).
Examples of Incurable Default in a sentence
Curable Default shall mean any Event of Default that is not an Incurable Default.
Incurable Default shall mean an Event of Default that cannot be cured by the payment of money or through the exercise of reasonable diligence.
Nothing herein contained shall require any Permitted Leasehold Mortgagee to cure any Incurable Default in order to comply with the provisions of Sections 17.1(d) and 17.1(e), or as a condition of entering into the New Lease provided for by Section 17.1(f).
Tenants who are regularly and chronically delinquent, defined as late four (4) times in the prior twelve (12) months, are subject to receiving a Notice of Incurable Default under which their lease may be terminated.
City shall not terminate this Sublease by reason of an Event of Default if City has failed to comply with its obligations under Section 9.3 or if the Permitted Lender (i) is curing or has cured all Events of Defaults under this Sublease in the payment of Rent within the time frames provided in Section 9.3(b)(i)(x) above, and (ii) has cured all other Events of Default within the time frames provided in Sections 9.3(b)(i)(y) and 9.3(b)(ii), other than any Incurable Default.
More Definitions of Incurable Default
Incurable Default as used herein means any default which cannot be cured by a Subleasehold Mortgagee. The term "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.
Incurable Default means a Default set forth in paragraphs (D) through (L), inclusive, of Section 9.1 of this Agreement.
Incurable Default. Collectively or individually, as the context may require, any defaults not reasonably susceptible to being cured by a Permitted Leasehold Mortgagee or a subsequent owner of the Leasehold Estate through foreclosure thereof, including the defaults referred to in Sections 16.1(c), 16.1(d), 16.1(e), 16(f), 16.1(g), 16.1(h) and 16.1(l).
Incurable Default means a Default that cannot be cured within the time period allowing for cure or by its nature is incapable of being cured.
Incurable Default means either: (i) any voluntary or involuntary sale, assignment, mortgaging or transfer of the Property or ownership interests in Borrower in violation of the covenants of the Deed of Trust; or (ii) if Borrower, or any person or entity comprising Borrower, should make an assignment for the benefit of creditors, become insolvent, or file (or have filed against it) a petition in bankruptcy (including but not limited to, a petition seeking a rearrangement or reorganization) which is not dismissed within 30 days after the filing of same. Notwithstanding any provision of this Note to the contrary, during any period of default and regardless of any cure period applicable to such default, in each instance under this Note, the Deed of Trust, or any of the other Loan Documents in which either: (i) Borrower is permitted to take a material action without Lender’s consent; or (ii) Lender’s consent is to be exercised reasonably, Lender’s consent shall be required and shall be granted or withheld in Lender’s sole and absolute discretion.
Incurable Default means a Default that cannot be cured within the time period allowing for cure or by its nature is incapable of being
Incurable Default means either: (i) any voluntary or involuntary sale, assignment, mortgaging, encumbering or transfer in violation of the covenants contained herein or any of the other Loan Documents; or (ii) if Borrower or Grantor, or any person or entity comprising Borrower or Grantor or any guarantor or indemnitor of the Loan, should breach any of the provisions of Section 22.