Curative Action definition

Curative Action has the meaning ascribed thereto in Section 6.4.
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Curative Action has the meaning assigned in Section 9.4 below.
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Curative Action shall be as defined in Section 4.02(a).
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Examples of Curative Action in a sentence

  • Except as expressly set forth in any Cure Notice, Seller shall be deemed to have elected not to undertake any Curative Action with respect to any Disapproved Matters.

  • If Borrower (i) shall fail to maintain insurance in accordance with the requirements of this Agreement or any of the other Loan Documents; (ii) is not in compliance with each Financial Covenant as of the last day of two consecutive Fiscal Quarters and fails to take Curative Action as required in Exhibit 4.16; or (iv) breaches any of the covenants contained in Article 5.

  • In the event that SBA rejects a Site pursuant to this provision, it shall provide TeleCorp with written notice of such rejection which sets forth with particularity the nature of the Defect and curative action which SBA believes must be undertaken to cure such Defect (in each instance, a "Curative Action").

  • If Buyer does not so elect to terminate this Agreement, then Buyer shall be deemed to have waived its disapproval of all Disapproved Matters set forth in such Disapproval Notice except to the extent of Seller’s agreement pursuant to the Cure Notice to undertake Curative Action with respect thereto.

  • Any agreement of the Title Company to so omit or insure shall be a matter solely between Buyer and the Title Company, and the same shall not be condition to Closing, except to the extent the Title Company’s agreement to so omit or insure is based upon Seller’s agreement pursuant to the Cure Notice to undertake Curative Action with respect to such Disapproved Matter and Seller fails to undertake such Curative Action prior to the Closing.

  • Genisys has advised United that (i) the foregoing matter has caused Genisys to be in inadvertent violation of Nasdaq Marketplace Rule 4310 (c) (25) (H) (the "Rule"), because the issuance of the Shares and the Warrants was not approved by Genisys' shareholders as required by the Rule; and (ii) Nasdaq has informed Genisys that it will delist the Common Stock absent the undersigned parties taking curative action (the "Curative Action") acceptable to Nasdaq.

  • Genisys has advised United that ----------------------------------- (i) the foregoing matter has caused Genisys to be in inadvertent violation of Nasdaq Marketplace Rule 4310 (c)(25)(H) (the "Rule"), because the issuance of the Shares and the Warrants was not approved by Genisys' shareholders as required by the Rule; and (ii) Nasdaq has informed Genisys that it will delist the Common Stock absent the undersigned parties taking curative action (the "Curative Action") acceptable to Nasdaq.

  • Unless Buyer terminates this Agreement pursuant to the foregoing, if Seller gives Buyer one or more Cure Notices, then (A) Seller shall use commercially reasonable efforts to complete the Curative Action set forth therein on or before the Closing Date, and (B) it shall be a condition to Buyer’s obligation to purchase the Property hereunder, but not a covenant of Seller, that all Curative Action shall actually be performed on or before the Closing Date.

  • Unless Buyer terminates this Agreement pursuant to the foregoing, if Seller gives Buyer one or more Cure Notices, then (A) Seller shall use commercially reasonably efforts to complete the Curative Action set forth therein on or before the Closing Date, and (B) it shall be a condition to Buyer’s obligation to purchase the Property hereunder (which condition may be waived by Buyer), but not a covenant of Seller, that all Curative Action shall actually be performed on or before the Closing Date.

  • Buyer shall pay any additional cost of the Title Policy (including the cost of ALTA extended coverage and the cost of all endorsements, except for endorsements obtained in connection with a Curative Action undertaken by Seller).


More Definitions of Curative Action

Curative Action. (i) make a principal prepayment on the Loan or (ii) either deposit cash collateral in a Lender- controlled deposit account held at Lender or provide to Lender an evergreen standby letter of credit payable to Lender as additional security for the Loan (which letter of credit shall be in form, substance and from a financial institution satisfactory to Lender in Xxxxxx’s sole discretion). In the case of clause (i), such payment must be in an amount sufficient to reduce the outstanding balance of the Loan and Related Loan to be in compliance with the Applicable DY Requirement or the Applicable DSCR Requirement requirements as of the most recent testing date. In the case of clause (ii), such deposit or letter of credit must be in an amount sufficient, if such amount is factored into the calculation of (A) the Related Borrower Group Debt Service Coverage Ratio (if Section 1(a) is applicable), or the Debt Service Coverage Ratio (if Section 1(b) is applicable) and (B) the Related Borrower Group Debt Yield (if Section 2(a) is applicable), or the Debt Yield (if Section 2(b) is applicable) as if it were a prepayment of the Loan and Related Loan, to cause the Related Borrower Group or Borrower, as applicable to be in compliance with the Applicable DY Requirement and the Applicable DSCR Requirement as of the most recent testing date. Provided no Default is continuing, any deposit of funds or letter of credit made under clause (ii) shall be released to Borrower promptly following such time as the Borrower or Related Borrower Group (as applicable) is fully and completely in compliance with the Applicable DY Requirement and the Applicable DSCR Requirement as determined by Lender as measured as of the last day of two consecutive Fiscal Quarters following such deposit being made, without including any amounts attributable to deposit in the calculation; provided, however, if (a) an Event of Default occurs, or (b) the Borrower or Related Borrower Group (as applicable) is not in compliance with the required the Applicable DY Requirement and/or the Applicable DSCR Requirement for four consecutive Fiscal Quarters (without including any amounts attributable to deposit in the calculation), then Lender, in its sole discretion may apply such deposited funds against the Obligations, and shall not be required to return such funds to Borrower. Any prepayment under this Section shall include any applicable prepayment fees. ​ The following terms mean as provided below: ​
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Curative Action means (i) obtaining the consent of the grantor of a Right-of-Way Interest if such consent is required by the agreement creating the Right-of-Way Interest; (ii) obtaining a new or amended agreement for a Right-of-Way Interest if a new or amended agreement is required to remedy a spatial gap in the Right-of-Way Interest, secure approval for any part of the Pipeline Interest located outside of a Right-of-Way Interest boundary to remain outside the boundary or otherwise remedy a lack of compliance with the terms and conditions of an agreement creating a Right-of-Way Interest; or (iii) any other corrective action resulting in Buyer receiving good and defensible title or right to the Real Property Interests that underlay the Pipeline Interests and are necessary to the operations and maintenance of the Pipeline Interests.
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Related to Curative Action

  • Corrective action means action taken to eliminate the cause of a potential or real non- conformity or other undesirable situation;

  • Affirmative action means action appropriate to overcome the effects of past or present practices, policies, or other barriers to equal employment opportunity.

  • Administrative Action has the meaning set forth in paragraph 4(a) of Annex I.

  • Derivative Action means any Action brought by or in the right of the Corporation and/or an Affiliate.

  • Corrective Action Plan has the meaning set forth in Section II.A.2.

  • Prohibited Action means an action of the Client as defined under paragraph 10.1 of this Client Agreement. A Prohibited Action constitutes an event of Default giving the Company the right to take action under paragraph 14.2 of this Client Agreement.

  • Legislative action means the development, drafting, introduction, consideration, modification, adoption, rejection, review, enactment or defeat of any bill, resolution, amendment, report, nomination, proposed administrative rule or other matter by the legislature or by either house or any committee, subcom- mittee, joint or select committee thereof, or by a legislator or employee of the legislature acting in an official capacity. “Legis- lative action” also means the action of the governor in approving or vetoing any bill or portion thereof, and the action of the gover- nor or any agency in the development of a proposal for introduc- tion in the legislature.

  • Adverse action means a home or remote state action.

  • curative allocations from dispositions of contributed property (within the meaning of Treasury Regulations Section 1.704-3(c)(3)(iii)(B)).

  • Specified Action has the meaning set forth in Section 3.4.2.

  • Response Action means the investigation, cleanup, removal, remediation, containment, control, abatement, monitoring of or any other response action to the presence of Regulated Substances or Contamination in, on, at, under or emanating from the Stadium Site, including the correction or abatement of any violation required pursuant to Environmental Laws or by a Governmental Authority.

  • Notified Action shall have the meaning set forth in Section 7.04(a) of this Agreement.

  • Adverse employment action means an action that affects an em- ployee ’s compensation, promotion, transfer, work assignment, or performance evaluation, or any other employment action that would dissuade a reasonable employee from making or supporting a report of abuse or neglect under Family Code 261.101.

  • Curative Allocation means any allocation of an item of income, gain, deduction, loss or credit pursuant to the provisions of Section 6.1(d)(xi).

  • Remedial Action means all actions to (i) clean up, remove, treat, or in any other way address any Hazardous Material, (ii) prevent the Release of any Hazardous Material so it does not endanger or threaten to endanger public health or welfare or the indoor or outdoor environment, (iii) perform pre-remedial studies and investigations or post-remedial monitoring and care, or (iv) correct a condition of noncompliance with Environmental Laws.

  • Remediation Period has the meaning specified in Section 8.2(a);

  • Action shall have the meaning ascribed to such term in Section 3.1(j).

  • Environmental Action means any action, suit, demand, demand letter, claim, notice of non-compliance or violation, notice of liability or potential liability, investigation, proceeding, consent order or consent agreement relating in any way to any Environmental Law, Environmental Permit or Hazardous Materials or arising from alleged injury or threat of injury to health, safety or the environment, including, without limitation, (a) by any governmental or regulatory authority for enforcement, cleanup, removal, response, remedial or other actions or damages and (b) by any governmental or regulatory authority or any third party for damages, contribution, indemnification, cost recovery, compensation or injunctive relief.

  • Regulatory Action means an administrative, regulatory, or judicial enforcement action, proceeding, investigation or inspection, FDA Form 483 notice of inspectional observation, warning letter, untitled letter, other notice of violation letter, recall, seizure, Section 305 notice or other similar written communication, injunction or consent decree, issued by the FDA or a federal or state court.

  • Good Reason Process means that (i) the Executive reasonably determines in good faith that a “Good Reason” condition has occurred; (ii) the Executive notifies the Company in writing of the first occurrence of the Good Reason condition within 60 days of the first occurrence of such condition; (iii) the Executive cooperates in good faith with the Company’s efforts, for a period not less than 30 days following such notice (the “Cure Period”), to remedy the condition; (iv) notwithstanding such efforts, the Good Reason condition continues to exist; and (v) the Executive terminates his employment within 60 days after the end of the Cure Period. If the Company cures the Good Reason condition during the Cure Period, Good Reason shall be deemed not to have occurred.

  • Remedial Action Plan has the meaning provided in Section 3.9(c)(ii).

  • Remedial Actions means those actions taken in the event of a radioactive release or threatened release into the environment to prevent or minimize the radioactive release so that it does not migrate and cause significant danger to the present or future public health, safety, or welfare, or to the environment. Remedial action includes, but is not limited to, actions at the location of the release such as storage, confinement, perimeter protection which may include using dikes, trenches, and ditches, clay cover, neutralization, dredging or excavation, repair or replacement of leaking containers, collection of leachate and runoff, efforts to minimize the social and economic harm of processing, provision of alternative water supplies, and any required monitoring to assure that the actions taken are sufficient to protect the public health, safety, and welfare, and the environment.

  • Environmental Complaint shall have the meaning set forth in Section 4.19(d) hereof.

  • Environmental Actions means any complaint, summons, citation, notice, directive, order, claim, litigation, investigation, judicial or administrative proceeding, judgment, letter, or other communication from any Governmental Authority, or any third party involving violations of Environmental Laws or releases of Hazardous Materials from (a) any assets, properties, or businesses of any Borrower or any predecessor in interest, (b) from adjoining properties or businesses, or (c) from or onto any facilities which received Hazardous Materials generated by any Borrower or any predecessor in interest.

  • Emergency Action means any emergency action for locational or system-wide capacity shortages that either utilizes pre-emergency mandatory load management reductions or other emergency capacity, or initiates a more severe action including, but not limited to, a Voltage Reduction Warning, Voltage Reduction Action, Manual Load Dump Warning, or Manual Load Dump Action.

  • Avoidance Action means any claim or cause of action of an Estate arising out of or maintainable pursuant to sections 502, 510, 541, 542, 543, 544, 545, 547, 548, 549, 550, 551, or 553 of the Bankruptcy Code or under any other similar applicable law, regardless of whether or not such action has been commenced prior to the Effective Date.