Right of Cure Clause Samples

Right of Cure. (a) If Tenant shall default in the observance or performance of any term or covenant of this Lease, Landlord may, after thirty (30) days written notice to Tenant to cure the default and failure of Tenant to cure the same within such period, unless Tenant has commenced performance of such cure within such thirty (30)-day period and is diligently pursuing the same, or at any time thereafter without notice in event of emergency, perform the same for the account of Tenant. If Landlord makes any reasonable expenditures or incurs any obligations in connection with the foregoing right of cure, including, but not limited to, reasonable attorneys’ fees in instituting, prosecuting or defending any action or proceeding against Tenant, such sums paid or obligations incurred, with interest (as provided below) and costs, shall be paid by Tenant to Landlord as Additional Rent hereunder. (b) Any Rent not paid by Tenant within ten (10) days after the due date thereof, shall thereafter be payable with interest at the rate of 3% per annum in excess of the prime or base rate of Citibank, N.A. (or its successor) in effect as of the due date, from the due date to the date of payment. (c) Cure by Landlord pursuant to this Article 18 shall not vitiate or constitute waiver by Landlord of the Tenant’s default.

Right of Cure. In the event of a default or breach by the Developer of a Security Financing Interest prior to the completion of the Development, and the holder has not exercised its option to complete the Development on the Property, the City or Authority may cure the default, prior to the completion of any foreclosure. In such event the City or Authority as applicable will be entitled to reimbursement from the Developer of all costs and expenses incurred bin curing the default. The City will also be entitled to a lien upon the Property or any portion thereof to the extent of such costs and disbursements, or in the case of the Authority, the Developer’s obligation to reimburse for costs and disbursements shall be included in the obligations secured by the applicable Deed of Trust. The City agrees that such lien will be subordinate to any Security Financing Interest, and the City will execute from time to time any and all documentation reasonably requested by Developer to effect such subordination.‌‌

Right of Cure. Notwithstanding the foregoing, if the Purchaser or the Seller ("Terminating Party") claim the right to terminate this Agreement pursuant to Section 8.1(a) or Section 8.1(b), then the Terminating Party must provide the other party ("Recipient") with written notice of its intention to terminate or abandon the Agreement, which notice shall identify the condition or event giving rise to the Terminating Party's right to terminate or abandon the Agreement. The Recipient will have ten (10) business days from receipt of such notice to cure such condition or event; provided that in the event that the Terminating Party provides such notice based on a representation or warranty of the Recipient contained in this Agreement which was not true or correct when made upon the execution of this Agreement, an action by the Recipient within ten (10) days of such notice such that, if called upon to do so, Recipient could make such representation or warranty in a truthful and correct manner in all material respects will be deemed to constitute a cure of such default. The provisions of this Section 8.2 shall not apply to termination pursuant to Sections 8.1(c), 8.1 (d) or 8.1(e).

Right of Cure. In all cases involving termination for breach, a breaching party may avoid termination and liability for damages by curing such default within the time frames specified in 5.A. above. In all cases, the time periods shall be measured from the breaching Party's receipt of the notice of breach. In cases requiring a 30 day cure period, the breaching party shall provide, within 5 calendar days of receipt of the Aggrieved Party's notice, a written motion to cure describing the steps to be taken to cure the breach.

Right of Cure. (a) If Tenant shall default in the observance or performance of any term or covenant of this Lease, Landlord may, after ten (10) business days written notice to Tenant to cure the default and failure of Tenant to cure the same within such period, or at any time thereafter without notice in event of emergency, perform the same for the account of Tenant. If Landlord makes any expenditures or incurs any obligations in connection with a default by Tenant, including, but not limited to, reasonable attorneys’ fees in instituting, prosecuting or defending any action or proceeding against Tenant, such sums paid or obligations incurred, with interest (as provided below) and costs, shall be paid by Tenant to Landlord as Additional Rent hereunder. (b) Any Rent not paid by Tenant within ten (10) days after the due date thereof, shall thereafter be payable with interest at the rate of 3% per annum in excess of the prime or base rate of Fleet Bank, N.A. (or its successor) in effect as of the due date, from the due date to the date of payment. (c) Cure by Landlord pursuant to this Article 18 shall not vitiate or constitute waiver by Landlord of the Tenant’s default.

Right of Cure. Prior to conducting a foreclosure sale for filing of a lawsuit in connection with this Note, Lender shall provide Borrower with notice of an Event of Default provided Borrower pays all installments due hereunder which are then delinquent, together with all default interest, late fees and any of ▇▇▇▇▇▇’s costs and attorney’s fees incurred in connection with the default within five (5) days of such notice, Lender shall rescind such foreclosure or lawsuit.

Right of Cure. In the event that any Party (the "defaulting Party") -------------- fails fully, timely or properly to perform any duty, obligation or covenant set forth in any provision of this Agreement, and such failure remains uncured for a Period of 30 days following the provision by the non-defaulting Party to the defaulting Party of a written notice detailing the failure, the non-defaulting Party shall have the right (in addition to any other rights or remedies provided elsewhere in this Agreement or otherwise available, at law or in equity, under Applicable Law), but not the obligation, to take such actions as the non-defaulting Party, in its sole and absolute discretion, may deem necessary or prudent to attempt to cure or commence to cure the failure and to enter upon all property of the defaulting Party for purposes relating thereto, in which case the defaulting Party shall reimburse to the non-defaulting party, upon receipt of a sufficient invoice, all costs and expenses incurred by the non-defaulting Party in curing or attempting to cure the failure; provided, however, that in an emergency a Party may take such action without the necessity of such prior notice (although such notice shall be given contemporaneously with or promptly after such actions). The provisions of this Section 9.21 shall apply with respect to all duties, obligations and covenants arising under this Agreement, including without limitation those that pertain to the SFPMC Lease.

Right of Cure. If Seller receives notice of unmerchantability of title or any other unsatisfactory title condition(s) or commitment terms as provided in Sec.8a or b above, Seller shall use reasonable effort to correct said items and bear any nominal expense to correct the same prior to Closing. If such unsatisfactory title condition(s) are not corrected on or before Closing, this contract shall then terminate; provided, however, Buyer may, by written notice received by Seller, on or before Closing, waive objection to such items.

Right of Cure. Any provision of this Agreement to the contrary notwithstanding, Lender shall not exercise any of its remedies for any Event of Default hereunder (including, without limitation, the right to acceleration of the balance of the indebtedness evidenced by the Term Note) until the thirtieth (30th) day after written notice from Lender to Borrower of said Event of Default or, in the Event of Default under Section 12.1 hereinabove, the tenth (10th) day after written notice. Written notice shall specify the nature of all such Events of Default and will be provided according to Section 14.8 herein below. If Borrower has not cured all such Events of Default after receipt of such notice, and the expiration of all cure periods, Lender shall be empowered to exercise all of its remedies under this Agreement. Lender is only required to provide the Borrower three (3) written default notices in any given calendar year. Notwithstanding anything in the foregoing Article, all requirements of notice shall be deemed eliminated if Lender is prevented from giving such notice by bankruptcy or other applicable law. The cure period, if any, shall then run from the occurrence of the event or condition of Default rather than from the date of notice.