Common use of Cure Payment Clause in Contracts

Cure Payment. 19.3.1 If the Borrowers are at any time in breach of the Interest Cover or Loan to Value Covenant (provided the Loan to Value is no greater than 95%) set out in Clause 19.1 and 19.2 respectively, the Borrower may rectify such breach by (within five Business Days of the date of the breach) either: 19.3.1.1 prepaying the Loan in whole or in part; and/or 19.3.1.2 placing to the credit of the Rectification Account such amount as the Agent determines is necessary to bring the Borrower within compliance with any relevant Financial Covenant pursuant to Clauses 19.1 or 19.2 (as the case may be) and in particular be at least 120% of the Project Annual Finance Costs as at that date,