Common use of DECLARATION OF DEFAULT Clause in Contracts

DECLARATION OF DEFAULT. a. At any time during the existence of a Violation, HUD may give written notice of the Violation to Borrower, by registered or certified mail, addressed to the addresses stated in this Agreement, or such other addresses as may subsequently, upon appropriate written Notice to HUD, be designated by Borrower as its legal business address. Borrower shall have thirty (30) days to cure any Violation, provided that HUD shall extend such thirty-day period by such time as HUD may reasonably determine is necessary to correct the Violation for so long as, HUD determines, in its discretion, that: (i) Borrower is timely satisfying all payment obligations in the Loan Documents; (ii) none of the Permits or Approvals is at substantial and imminent risk of being terminated;

DECLARATION OF DEFAULT. a. At any time during the existence of a Violation, HUD may give written notice of the Violation to Borrower, by registered or certified mail, addressed to the addresses stated in this Agreement, or such other addresses as may subsequently, upon appropriate written Notice to HUD, be designated by Borrower as its legal business address. Borrower shall have thirty (30) days to cure any Violation, provided that HUD shall extend such thirty-day period by such time as HUD may reasonably determine is necessary to correct the Violation for so long as, as HUD determines, in its discretion, that: (i) Borrower is timely satisfying all payment obligations in the Loan Documents; (ii) none of the Permits or Approvals is at substantial and imminent risk of being terminated;

DECLARATION OF DEFAULT. a. At any time during the existence of a Violation, HUD may give written notice of the Violation to Borrower, by registered or certified mail, addressed to the addresses stated in this Agreement, or such other addresses as may subsequently, upon appropriate written Notice to HUD, be designated by Borrower as its legal business address. Borrower shall have thirty (30) days to cure any Violation, provided that HUD shall extend such thirty-day period by such time as HUD may reasonably determine is necessary to correct the Violation for so long as, HUD determines, in its discretion, that: : (i) Borrower is timely satisfying all payment obligations in the Loan Documents; (ii) none of the Permits or Approvals is at substantial and imminent risk of being terminated;