CLI » Topics » Event of Default

This excerpt taken from the CLI 8-K filed Jan 22, 2010.
Event of Default”:

(a)           if Borrower fails to make any payment required under the Documents when due and such failure continues for five (5) days after written notice;   provided, however, that if Lender gives one (1) notice of such a default within any twelve (12) month period, Borrower shall have no further right to any notice of such a default during the next following twelve (12) month period;  provided, further, however, Borrower shall have no right to any such notice upon the maturity date of the Note;

           (b)           except for defaults listed in the other subsections of this Section 6.01, if Borrower fails to perform or comply with any other provision contained in the Documents that is capable of cure by the payment of money and the default is not cured within fifteen (15) days of Lender providing written notice thereof;  provided, however, that if Lender gives one (1) notice of such a default within any twelve (12) month period, Borrower shall have no further right to any notice of such a default during the next following twelve (12) month period;

(c)           except for defaults listed in the other subsections of this Section 6.01, if Borrower fails to perform or comply with any other provision contained in the Documents and the default is not cured within thirty (30) days after Lender providing written notice thereof (the “
This excerpt taken from the CLI 10-Q filed Oct 30, 2008.
Event of Default.  Any default by Mortgagor in making any required payment of the Indebtedness or any default in any provision, covenant, agreement, warranty or certification contained in any of the Loan Documents shall, except as provided in the two immediately succeeding paragraphs, constitute an “Event of Default”.
 

EXCERPTS ON THIS PAGE:

8-K
Jan 22, 2010
10-Q
Oct 30, 2008
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