Common use of Monetary Obligations Clause in Contracts

Monetary Obligations. the failure of Borrower to make due and punctual payment of the Indebtedness as the same shall become due and payable, whether at maturity or when accelerated pursuant to any power to accelerate contained in any Loan Document, if such failure continues for five (5) days after receipt by Borrower of written notice and demand therefor from Administrative Agent, but such notice and cure period will not apply more than three (3) times in any calendar year and such notice and cure period will not apply at the Maturity Date; or