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CC PACKET 05242016
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CC PACKET 05242016
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<br />27 <br /> <br />the transfer or assignment of the Agreement. If Lender exercises these remedies, it will not <br />constitute a default under the Agreement, and will not require Subscriber consent. <br /> <br />D. Upon any rejection or other termination of the Agreement under any process undertaken with <br />respect to Owner under the United States Bankruptcy Code, Subscriber agrees to enter into a <br />new agreement with Lender or its assignee under substantially the same terms as the <br />Agreement if Lender so requests within ninety (90) days of the termination or rejection of the <br />Agreement. <br /> <br />E. At Owner’s request, Subscriber agrees to execute and deliver to Lender and Owner such <br />acknowledgment consent as may be required by Lender and in which Subscriber acknowledges <br />and confirms that the legal and beneficial ownership of the System remains in Owner, or its <br />affiliate, and that the System is the property of Owner, or its affiliate. <br /> <br />3. Lender’s Right to Cure. Regardless of any contrary terms in the Agreement: <br /> <br />A. Subscriber will not terminate or suspend the Agreement unless Subscriber has given the <br />Lender prior written notice of Subscriber’s intent to terminate or suspend the Agreement <br />describing the event giving rise to the alleged Owner Default, and provide the Lender with <br />the opportunity to cure the Owner Default within sixty (60) days after such notice or any <br />longer period provided for in the Agreement. If the Owner Default reasonably cannot be cured <br />by the Lender within the period established under the Agreement, and the Lender commences <br />and continuously pursues the cure of such Owner Default within that period, the period for <br />cure will be extended for a reasonable period of time under the circumstances, but not to <br />exceed an additional thirty (30) days. Owner’s and Subscriber’s respective obligations will <br />otherwise remain in effect during the cure period. <br /> <br />B. If the Lender or its lawful a ssignee (including any buyer or transferee) acquires title to or <br />control of Subscriber’s assets and within the applicable time period cures all defaults under the <br />Agreement existing as of the date of such change in control in the manner required by the <br />Agreement and which are capable of cure b y a third party, then the Lender or such third party <br />buyer or transferee will no longer be in default under the Agreement, and the Agreement will <br />continue in full force and effect. <br /> <br />C. At the request of Lender and/or its assignee, Subscriber agrees to execute and deliver any <br />document, instrument, or statement (but not including any payment) required by law or <br />otherwise as reasonably requested by Lender or its assignee in order to create, perfect, <br />77
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