Additional Cure Period Sample Clauses
An Additional Cure Period clause grants a party extra time to remedy a breach or failure to perform under a contract before the other party can exercise certain remedies, such as termination. Typically, if a party defaults, the non-breaching party must provide written notice specifying the issue, after which the breaching party is given a defined period—beyond any initial cure period—to correct the problem. This clause helps prevent premature contract termination by ensuring parties have a fair opportunity to resolve issues, thereby promoting continued performance and reducing the risk of disputes.
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Additional Cure Period. From and after the time such notice as provided in Section 5.2.7 has been served upon any Leasehold Mortgagee, such Leasehold Mortgagee shall have the same period, after the service of notice upon it, for curing any default, or acts or omissions the subject of such notice, as is given Tenant after the service of notice upon Tenant, plus in each instance an additional one hundred twenty (120) days (unless, with respect to non-monetary defaults, such cure requires work to be performed, acts to be done, or conditions to be removed which cannot by their nature reasonably be performed, done or removed, as the case may be, within such one hundred twenty (120) day period, in which case there shall be allowed to such Leasehold Mortgagee such additional time as may be required to effect such cure if the Leasehold Mortgagee shall have commenced curing same within such one hundred twenty (120) day period and shall prosecute the same to completion, if reasonably susceptible of being cured by such Leasehold Mortgagee).
Additional Cure Period. If the Quality Issues are not capable of being cured, or the Cure Plan is not capable of being completely executed, within the Initial Cure Period or the quality Issues otherwise remain uncured after the expiration of the Initial Cure Period, Sears and Outlet Stores shall each appoint a representative to promptly negotiate in good faith additional or other cure plans (“Additional Cure Plan”) for a different or additional cure period (“Additional Cure Period”) that may be reasonably necessary to correct such Quality Issues. If the parties are unable to agree on an Additional Cure Plan or Additional Cure Period, Sears shall, in its sole but good faith discretion, determine such Additional Cure Plan or Additional Cure Period.
Additional Cure Period. Lessee agrees to give any mortgagees and/or trust deed holders, by certified mail, return receipt requested, a copy of any notice of default served upon Lessor, provided that prior to such notice Lessee has been notified in writing of the address of such mortgagees and/or trust deed holders. Lessee further agrees to afford the mortgagees and/or trust deed holders a period of ten days beyond any period afforded to Lessor for the curing of such default, or if such default cannot be cured within that time then such additional time as may be necessary to cure such default (including but not limited to commencement of foreclosure proceedings), prior to taking any action to terminate this Facility Lease.
Additional Cure Period. If the Quality Issues are not capable of being cured, the Cure Plan is not capable of being completely executed within the Initial Cure Period, or the Quality Issues otherwise remain uncured after the expiration of the Initial Cure Period, Licensor and Licensee shall engage the Governance Committee to promptly negotiate in good faith additional cure plans for an additional cure period that may be reasonably necessary and appropriate to correct such Quality Issues. If the Parties are unable to agree on an additional cure plan or additional cure period, Licensor shall, in its sole but good faith discretion, make such determinations.
Additional Cure Period. Anything contained in this Lease notwithstanding, if any default shall occur which, pursuant to any provision of this Lease, purportedly entitles Landlord to terminate this Lease, Landlord shall not be entitled to terminate this Lease as to any Permitted Leasehold Mortgagee, nor to disturb the right of possession of any subtenant of Lessee, and the notice shall be rendered void as to such parties, if the Permitted Leasehold Mortgagee, within sixty (60) days after expiration of the period within which Lessee was permitted to cure the default (but in no event later than ninety (90) days after receipt by the Leasehold Mortgagee of the notice of default referred to in paragraph 2.23.5(b), above), shall both:
(i) either (1) cure the default if the same can be cured by the expenditure of money, or (2) if the default or breach is not so curable, commence, or cause any trustee under the relevant Permitted Leasehold Mortgage to commence, and thereafter to diligently pursue to completion, a cure of such default, including, without limitation, a foreclosure of the relevant Permitted Leasehold Mortgage; and
(ii) perform or cause the performance of all of the covenants and conditions of this Lease requiring the expenditure of money by Lessee until such time as the leasehold shall be sold upon foreclosure pursuant to the relevant Permitted Leasehold Mortgage, or shall be released or reconveyed thereunder, or shall be transferred upon judicial foreclosure or by deed or assignment in lieu of foreclosure.
Additional Cure Period. If the Quality Issues are not capable of being cured, the Cure Plan is not capable of being completely executed within the Initial Cure Period, or the Quality Issues otherwise remain uncured after the expiration of the Initial Cure Period, Licensor and Licensee shall engage the Governance Committee to promptly negotiate in good faith additional cure plans for an additional cure period that may be reasonably necessary and appropriate to correct such Quality Issues. If the Parties are unable to agree on an additional cure plan or additional cure period, Licensor shall, in its sole but good faith discretion, make such determinations. TIMKENSTEEL CORPORATION HAS REQUESTED THAT THE OMITTED PORTIONS OF THIS DOCUMENT, WHICH ARE INDICATED BY ASTERISKS, BE ACCORDED CONFIDENTIAL TREATMENT PURSUANT TO RULE 24b-2 UNDER THE SECURITIES EXCHANGE ACT OF 1934. TIMKENSTEEL CORPORATION HAS SEPARATELY FILED THE OMITTED PORTIONS OF THE DOCUMENT WITH THE SECURITIES AND EXCHANGE COMMISSION.