Common use of Monetary and Performance Defaults Clause in Contracts

Monetary and Performance Defaults. (i) Failure to make (A) any scheduled Monthly Payment due under the Portfolio Note (other than the final payment and Prepayment Fee) on or before the fifth (5th) Business Day after such payment is due, (B) the final payment and Prepayment Fee under the Portfolio Note when due, whether at maturity, by reason of acceleration, as part of a prepayment or otherwise, or (C) any scheduled escrow payment due under any Loan Document within five (5) Business Days after such payment is due; or (ii) Breach or default in the performance of any of the other monetary or non-monetary covenants or agreements of Borrowers contained herein or in any of the Loan Documents (“Performance Default”), if such Performance Default shall continue for thirty (30) days or more after written notice to a Borrower from Lender specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the thirty (30) day period, then Borrower shall not be in default so long as Borrower have commenced and thereafter diligently pursue such cure to completion and provided further that such cure occurs within a reasonable period of time but in no event greater one hundred twenty (120) days after the date of the original written notice of the Performance Default. Notwithstanding the foregoing, if the breach or default is one that is defined as an Event of Default elsewhere in any of the Loan Documents, then Borrower shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default; or (iii) any Borrower changes its name, its organizational identification number, if it has one, its type of organization, or its jurisdiction of organization without giving Lender thirty (30) days’ prior notice.

Monetary and Performance Defaults. (iA) Failure to make (A) any scheduled Monthly Payment payment due under the Portfolio Note (Note, or any note evidencing a Future Advance, other than the final payment and Prepayment Fee) Premium, or to make any payment due under this Security Deed to Lender or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth fourth (5th4th) Business Day day after such payment is due, ; or (B) Failure to make the final payment and or the Prepayment Fee Premium due under the Portfolio Note or any note evidencing a Future Advance when due, such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise, or otherwise (Cthe defaults in (A) any scheduled escrow payment due under any Loan Document within five and (5B) Business Days after such payment is duehereinafter "Monetary Default"); or (iiC) Breach or default in the performance of any of the other monetary or non-monetary covenants or agreements of Borrowers Borrower contained herein herein, in the Note or in any of the Loan Documents Related Agreement (“"Performance Default”"), if such Performance Default shall continue for thirty (30) days or more after written notice to a Borrower from Lender specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the thirty (30) day period, then Borrower shall not be in default so long as Borrower have commenced and thereafter diligently pursue such if it commences good faith efforts to cure the Performance Default within the thirty (30) day period, demonstrates continuous diligent efforts to completion and provided further that such cure occurs the Performance Default in a manner reasonably satisfactory to Lender and, within a reasonable period of time but in no event greater period, not to exceed one hundred twenty eighty (120180) days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one that which is defined as an Event of Default elsewhere in this Article II or in the default definition of any of the Loan DocumentsRelated Agreement, then Borrower shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default; or (iiiD) any Borrower changes its name, its organizational identification number, if it has one, its type Failure to maintain Insurance as provided for in Section 1.02 of organization, or its jurisdiction of organization without giving Lender thirty this Security Deed; or (30E) days’ prior noticeFailure to pay Impositions as provided for in Section 1.06.

Monetary and Performance Defaults. (iA) Failure to make (A) any scheduled Monthly Payment payment due under the Portfolio Note (or any note evidencing a Future Advance, other than the final payment and Prepayment Fee) Premium, or to make any payment due under this Deed of Trust to Beneficiary or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth (5th) Business Day fourth day after such payment is due, ; or, (B) Failure to make the final payment and or the Prepayment Fee Premium due under the Portfolio Note or any note evidencing a Future Advance when due, such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise, or otherwise (Cthe defaults in (A) any scheduled escrow payment due under any Loan Document within five and (5B) Business Days after such payment is duehereinafter “Monetary Default”); or (iiC) Breach or default in the performance of any of the other monetary or non-monetary covenants or agreements of Borrowers Trustor contained herein or in any of the Loan Documents Related Agreement (“Performance Default”), if such Performance Default shall continue for thirty fifteen (3015) days or more after written notice to a Borrower Trustor from Lender Beneficiary specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the thirty (30) 15 day period, then Borrower Trustor shall not be in default so long as Borrower have commenced and thereafter diligently pursue such if it commences good faith efforts to cure the Performance Default within the 15 day period, demonstrates continuous diligent efforts to completion and provided further that such cure occurs the Performance Default in a manner satisfactory to Beneficiary and, within a reasonable period of time but in no event greater one hundred twenty (120) period, not to exceed 180 days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one that which is defined as an Event of Default elsewhere in this Article II or in the default definition of any of the Loan DocumentsRelated Agreement, then Borrower Trustor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default; or (iii) any Borrower changes its name, its organizational identification number, if it has one, its type of organization, or its jurisdiction of organization without giving Lender thirty (30) days’ prior notice.

Monetary and Performance Defaults. (iA) Failure to make (A) any scheduled Monthly Payment payment due under the Portfolio Note (or any note evidencing a Future Advance, other than the final payment and Prepayment Fee) Premium, or to make any payment due under this Mortgage to Mortgagee or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth (5th) Business Day day after such payment is due, ; or (B) Failure to make the final payment and or the Prepayment Fee Premium due under the Portfolio Note or any note evidencing a Future Advance when due, such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise, or otherwise (Cthe defaults in (A) any scheduled escrow payment due under any Loan Document within five and (5B) Business Days after such payment is duehereinafter "Monetary Default"); or (iiC) Breach or default in any of the covenants or agreements contained in Section 1.13 of this Mortgage; or (D) Breach or default in the performance of any of the other monetary or non-monetary covenants or agreements of Borrowers Mortgagor contained herein or in any of the Loan Documents Related Agreement (“"Performance Default”"), if such Performance Default shall continue for thirty fifteen (3015) days or more after written notice to a Borrower Mortgagor from Lender Mortgagee specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the thirty fifteen (3015) day period, then Borrower Mortgagor shall not be in default so long as Borrower have commenced and thereafter diligently pursue such if it commences good faith efforts to cure the Performance Default within the fifteen (15) day period, demonstrates continuous diligent efforts to completion and provided further that such cure occurs the Performance Default in a manner satisfactory to Mortgagee and, within a reasonable period of time but in no event greater one hundred twenty (120) period, not to exceed 180 days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one that which is defined as an Event of Default elsewhere in this Article II or in the default definition of any of the Loan DocumentsRelated Agreement, then Borrower Mortgagor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default; or (iii) any Borrower changes its name, its organizational identification number, if it has one, its type of organization, or its jurisdiction of organization without giving Lender thirty (30) days’ prior notice.

Monetary and Performance Defaults. (iA) Failure to make (A) any scheduled Monthly Payment payment due under the Portfolio Note (or any note evidencing a Future Advance, other than the final payment and Prepayment Fee) Premium, or to make any payment due under this Mortgage to Mortgagee or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth (5th) Business Day after day of the month in which such payment is due, ; or (B) Failure to make the final payment and or the Prepayment Fee Premium due under the Portfolio Note or any note evidencing a Future Advance when due, such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise, or otherwise (Cthe defaults in (A) any scheduled escrow payment due under any Loan Document within five and (5B) Business Days after such payment is duehereinafter "Monetary Default"); or (iiC) Breach or default in the performance of any of the other monetary or non-monetary covenants or agreements of Borrowers Mortgagor contained herein or in any of the Loan Documents Related Agreement (“"Performance Default”"), if such Performance Default shall continue for thirty (30) days or more after written notice to a Borrower Mortgagor from Lender Mortgagee specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the thirty (30) day period, then Borrower Mortgagor shall not be in default so long as Borrower have commenced and thereafter diligently pursue such if it commences good faith efforts to cure the Performance Default within the thirty (30) day period, demonstrates continuous diligent efforts to completion and provided further that such cure occurs the Performance Default in a manner satisfactory to Mortgagee and, within a reasonable period of time but in no event greater period, not to exceed one hundred twenty eighty (120180) days after the date of the original written notice of the Performance Default. Notwithstanding , completes the foregoing, if the breach or default is one that is defined as an Event of Default elsewhere in any of the Loan Documents, then Borrower shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Performance Default; or (iii) any Borrower changes its name, its organizational identification number, if it has one, its type of organization, or its jurisdiction of organization without giving Lender thirty (30) days’ prior notice.

Monetary and Performance Defaults. (iA) Failure to make (A) any scheduled Monthly Payment payment due under the Portfolio Note (or any note evidencing a Future Advance, other than the final payment and Prepayment Fee) Premium, or to make any payment due under this Mortgage to Mortgagee or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth (5th) Business Day after day of the month in which such payment is due, ; or (B) Failure to make the final payment and or the Prepayment Fee Premium due under the Portfolio Note or any note evidencing a Future Advance when due, such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise, or otherwise (Cthe defaults in (A) any scheduled escrow payment due under any Loan Document within five and (5B) Business Days after such payment is duehereinafter "Monetary Default"); or (iiC) Breach or default in the performance of any of the other monetary or non-monetary covenants or agreements of Borrowers Mortgagor contained herein or in any of the Loan Documents Related Agreement (“"Performance Default”"), if such Performance Default shall continue for thirty fifteen (3015) days or more after written notice to a Borrower Mortgagor from Lender Mortgagee specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the thirty fifteen (3015) day period, then Borrower Mortgagor shall not be in default so long as Borrower have commenced and thereafter diligently pursue such if it commences good faith efforts to cure the Performance Default within the fifteen (15) day period, demonstrates continuous diligent efforts to completion and provided further that such cure occurs the Performance Default in a manner satisfactory to Mortgagee and, within a reasonable period of time but in no event greater period, not to exceed one hundred twenty eighty (120180) days after the date of the original written notice of the Performance Default. Notwithstanding , completes the foregoing, if the breach or default is one that is defined as an Event of Default elsewhere in any of the Loan Documents, then Borrower shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Performance Default; or (iii) any Borrower changes its name, its organizational identification number, if it has one, its type of organization, or its jurisdiction of organization without giving Lender thirty (30) days’ prior notice.

Monetary and Performance Defaults. (iA) Failure to make (A) any scheduled Monthly Payment payment due under the Portfolio any one or more of Note (A or Note B or any note evidencing a Future Advance, other than the final payment and Prepayment Fee) Premium, or to make any payment due under this Deed of Trust to Beneficiary or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth fourth (5th4th) Business Day day after such payment is due, ; or (B) Failure to make the final payment and or the Prepayment Fee Premium due under the Portfolio any one or more of Note A or Note B or any note evidencing a Future Advance when due, such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise, or otherwise (Cthe defaults in (A) any scheduled escrow payment due under any Loan Document within five and (5B) Business Days after such payment is duehereinafter "Monetary Default"); or (iiC) Breach or default in the performance of any of the other monetary or non-monetary covenants or agreements of Borrowers Grantor contained herein herein, in any one or more of Note A or Note B or in any of the Loan Documents Related Agreement (“"Performance Default”"), if such Performance Default shall continue for thirty (30) days or more after written notice to a Borrower Grantor from Lender Beneficiary specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the thirty (30) day period, then Borrower Grantor shall not be in default so long as Borrower have commenced and thereafter diligently pursue such if it commences good faith efforts to cure the Performance Default within the thirty (30) day period, demonstrates continuous diligent efforts to completion and provided further that such cure occurs the Performance Default in a manner reasonably satisfactory to Beneficiary and, within a reasonable period of time but in no event greater period, not to exceed one hundred twenty eighty (120180) days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one that which is defined as an Event of Default elsewhere in this Article II or in the default definition of any of the Loan DocumentsRelated Agreement, then Borrower Grantor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default; or (iii) any Borrower changes its name, its organizational identification number, if it has one, its type of organization, or its jurisdiction of organization without giving Lender thirty (30) days’ prior notice.

Monetary and Performance Defaults. (iA) Failure to make (A) any scheduled Monthly Payment payment due under either of the Portfolio Note (Notes or any note evidencing a Future Advance, other than the final payment and Prepayment Fee) Premium, or to make any payment due under this Deed of Trust to Beneficiary or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth (5th) Business Day fourth day after such payment is due, ; or, (B) Failure to make the final payment and or the Prepayment Fee Premium due under either of the Portfolio Note Notes or any note evidencing a Future Advance when due, such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise, or otherwise (Cthe defaults in (A) any scheduled escrow payment due under any Loan Document within five and (5B) Business Days after such payment is duehereinafter “Monetary Default”); or (iiC) Breach or default in the performance of any of the other monetary or non-monetary covenants or agreements of Borrowers Trustor contained herein or in any of the Loan Documents Related Agreement (“Performance Default”), if such Performance Default shall continue for thirty fifteen (3015) days or more after written notice to a Borrower Trustor from Lender Beneficiary specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the thirty (30) 15 day period, then Borrower Trustor shall not be in default so long as Borrower have commenced and thereafter diligently pursue such if it commences good faith efforts to cure the Performance Default within the 15 day period, demonstrates continuous diligent efforts to completion and provided further that such cure occurs the Performance Default in a manner satisfactory to Beneficiary and, within a reasonable period of time but in no event greater one hundred twenty (120) period, not to exceed 180 days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one that which is defined as an Event of Default elsewhere in this Article II or in the default definition of any of the Loan DocumentsRelated Agreement, then Borrower Trustor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default; or (iii) any Borrower changes its name, its organizational identification number, if it has one, its type of organization, or its jurisdiction of organization without giving Lender thirty (30) days’ prior notice.

Monetary and Performance Defaults. (iA) Failure to make (A) any scheduled Monthly Payment payment due under any one or more of the Portfolio Note (or any note evidencing a Future Advance, other than the final payment and Prepayment Fee) Premium, or to make any payment due under this Mortgage to Mortgagee or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth fourth (5th4th) Business Day day after such payment is due, ; or (B) Failure to make the final payment and or the Prepayment Fee Premium due under any one or more of the Portfolio Note or any note evidencing a Future Advance when due, such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise, or otherwise (Cthe defaults in (A) any scheduled escrow payment due under any Loan Document within five and (5B) Business Days after such payment is duehereinafter "Monetary Default"); or (iiC) Breach or default in the performance of any of the other monetary or non-monetary covenants or agreements of Borrowers Mortgagor contained herein or in any of the Loan Documents Related Agreement (“"Performance Default”"), if such Performance Default shall continue for thirty (30) days or more after written notice to a Borrower Mortgagor from Lender Mortgagee specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the thirty (30) day period, then Borrower Mortgagor shall not be in default so long as Borrower have commenced and thereafter diligently pursue such if it commences good faith efforts to cure the Performance Default within the thirty (30) day period, demonstrates continuous diligent efforts to completion and provided further that such cure occurs the Performance Default in a manner reasonably satisfactory to Mortgagee and, within a reasonable period of time but in no event greater period, not to exceed one hundred twenty eighty (120180) days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one that which is defined as an Event of Default elsewhere in this Article II or in the default definition of any of the Loan DocumentsRelated Agreement, then Borrower Mortgagor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default; or (iii) any Borrower changes its name, its organizational identification number, if it has one, its type of organization, or its jurisdiction of organization without giving Lender thirty (30) days’ prior notice.

Monetary and Performance Defaults. (iA) Failure to make (A) any scheduled Monthly Payment payment due under the Portfolio Note (or any note evidencing a Future Advance, other than the final payment and Prepayment FeePremium (which is governed by subsection 2.01 (B) hereunder), on or before the fifth (5th) Business Day fourth day after such payment is due, or failure to make any payment due under this Mortgage to Mortgagee or any other party, including without limitation, payment of escrow deposits, real estate taxes, ground rents, if any, on or before the date that any such payment is due, or failure to pay any insurance premiums related to the Property in full at least five (5) business days prior to the date any then current policies of insurance are scheduled to lapse; (B) Failure to make the final payment and or the Prepayment Fee Premium due under the Portfolio Note or any note evidencing a Future Advance when due, such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwiseotherwise (the defaults in (A) and (B) of this section 2.01, or (C) any scheduled escrow payment due under any Loan Document within five (5) Business Days after such payment is duehereinafter “Monetary Default”); or (iiC) Breach or default in the performance of any of the other monetary or non-monetary covenants or agreements of Borrowers Mortgagor contained herein or in any of the Loan Documents Related Agreement (“Performance Default”), if such Performance Default shall continue for thirty (30) days or more after written notice to a Borrower Mortgagor from Lender Mortgagee specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the thirty (30) day period, then Borrower Mortgagor shall not be in default so long as Borrower have commenced and thereafter diligently pursue such if it commences good faith efforts to cure the Performance Default within the thirty (30) day period, demonstrates continuous diligent efforts to completion and provided further that such cure occurs the Performance Default in a manner satisfactory to Mortgagee and, within a reasonable period of time but in no event greater one hundred twenty (120) period, not to exceed 180 days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one that which is defined as an Event of Default elsewhere in this Article II or in the default definition of any of the Loan DocumentsRelated Agreement, then Borrower Mortgagor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default; or (iii) any Borrower changes its name, its organizational identification number, if it has one, its type of organization, or its jurisdiction of organization without giving Lender thirty (30) days’ prior notice.

Monetary and Performance Defaults. (iA) Failure to make (A) any scheduled Monthly Payment payment due under the Portfolio Note (or any note evidencing a Future Advance, other than the final payment and Prepayment Fee) Premium, or to make any payment due under this Mortgage to Mortgagee or any other party, including without limitation, payment of escrow deposits, real estate taxes, insurance premiums and ground rents, if any, on or before the fifth fourth (5th4th) Business Day day after such payment is due, ; or (B) Failure to make the final payment and or the Prepayment Fee Premium due under the Portfolio Note or any note evidencing a Future Advance when due, such payment is due whether at maturity, by reason of acceleration, as part of a prepayment or otherwise, or otherwise (Cthe defaults in (A) any scheduled escrow payment due under any Loan Document within five and (5B) Business Days after such payment is duehereinafter “Monetary Default”); or (iiC) Breach or default in the performance of any of the other monetary or non-monetary covenants or agreements of Borrowers Mortgagor contained herein herein, in the Note or in any of the Loan Documents Related Agreement (“Performance Default”), if such Performance Default shall continue for thirty (30) days or more after written notice to a Borrower Mortgagor from Lender Mortgagee specifying the nature of the Performance Default; provided, however, that if such Performance Default is of a nature that it cannot be cured within the thirty (30) day period, then Borrower Mortgagor shall not be in default so long as Borrower have commenced and thereafter diligently pursue such if it commences good faith efforts to cure the Performance Default within the thirty (30) day period, demonstrates continuous diligent efforts to completion and provided further that such cure occurs the Performance Default in a manner reasonably satisfactory to Mortgagee and, within a reasonable period of time but in no event greater period, not to exceed one hundred twenty eighty (120180) days after the date of the original written notice of the Performance Default, completes the cure of such Performance Default. Notwithstanding the foregoing, if the breach or default is one that which is defined as an Event of Default elsewhere in this Article II or in the default definition of any of the Loan DocumentsRelated Agreement, then Borrower Mortgagor shall not be entitled to any notice or cure period upon the occurrence of such breach or default except for such notice and cure periods, if any, as may be expressly granted in such other defined Event of Default; or (iii) any Borrower changes its name, its organizational identification number, if it has one, its type of organization, or its jurisdiction of organization without giving Lender thirty (30) days’ prior notice.