Default by Lessee Sample Clauses
The "Default by Lessee" clause defines the circumstances under which the lessee is considered to have breached the terms of the lease agreement. Typically, this includes failures such as not paying rent on time, violating use restrictions, or neglecting maintenance obligations. When a default occurs, the clause outlines the remedies available to the lessor, such as the right to terminate the lease, recover damages, or repossess the property. Its core function is to clearly establish the consequences of non-compliance by the lessee, thereby protecting the lessor’s interests and providing a framework for resolving breaches.
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Default by Lessee. The following events shall be deemed to be events of default by Lessee under this Agreement (each such event of default is hereinafter referred to as an "Event of Default"):
A. Lessee shall fail to timely pay any monthly rental payment as referenced in paragraph 3 above or any other sum of money due hereunder and such failure shall continue for a period of ten days;
B. Lessee shall fail to comply with any provision of this Agreement not requiring the payment of money, all of which provisions shall be deemed material, and such failure shall continue for a period of twenty days after written notice of such default is delivered to Lessee;
C. Lessee shall become insolvent or fail to pay its debts as they become due or Lessee notifies Lessor that it anticipates either condition;
D. Lessee takes any action to file a petition under any section or chapter of the United States Bankruptcy Code or under any similar law or statute of the United States or any state thereof or a petition shall be filed against Lessee under any such statute or Lessee or may creditor of Lessee notifies Lessor that it knows such a petition will be filed or Lessee notifies Lessor that it expects such a petition to be filed; or
E. A receiver or trustee shall be appointed for Lessee's leasehold interest in the Premises or for all or a substantial part of Lessee's assets. Upon the occurrence of an Event of Default, Lessor may at its option and without further notice to Lessee, and in addition to all other remedies given hereunder or by law or in equity, do any one or more of the following: (A) terminate this Agreement, in which event Lessee shall immediately surrender possession of the Premises to Lessor; (B) enter upon the Premises and expel or remove Lessee and/or Lessee's Equipment therefrom, with or without having terminated this Agreement; and (C) change or re-key all locks to entrances to the Site and Lessor shall have no obligation to give Lessee notice thereof or to provide Lessee with a new key to the Site. The exercise by Lessor of any one or more remedies hereunder shall not constitute an acceptance of the surrender of the Premises by Lessee. Lessee acknowledges that a surrender of the Premises can be effected only by a written agreement between Lessor and Lessee. If Lessor terminates this Agreement by reason of an Event of Default, Lessee shall pay to Lessor the sum of (A) the cost of recovering the Premises; (B) the unpaid monthly payments and all other indebtedness accrued hereun...
Default by Lessee. The occurrence of any one or more of the following ----------------- events shall constitute a material default of this Lease by Lessee.
(a) The vacating or abandonment of the Premises by Lessee.
(b) The failure of Lessee to make any payment of rent or any other payment required to be made by Lessee hereunder as and when due, where such failure shall continue for a period of ten (10) days after written notice thereof from Lessor to Lessee; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161.
(c) The failure by Lessee to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by Lessee, other than as described in Paragraph 12.1 (b) hereof, where such failure shall continue for a period of thirty (30) days after written notice thereof from Lessor to Lessee; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161; provided further, that if the nature of Lessee's default is such that more than 30 days are reasonably required for the cure, then Lessee shall not be deemed to be in default if Lessee commenced such cure within said 30 day period and thereafter diligently prosecutes such cure to completion.
(d) The making by Lessee of any general assignment, or general arrangement for the benefit of creditors; the filing by or against Lessee of a petition to have Lessee adjudged a bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petiton filed against Lessee, the same is dismissed within 60 days); the appointment of a trustee or receiver to take possession of substantially all of the Lessee's assets located at the Premises, or of Lessee's interest in this Lease, where possession is not restored to Lessee within 30 days; or the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within thirty days.
(e) The discovery by Lessor that any financial statement given to Lessor by Lessee, and assignee of Lessee, any subtennant of Lessee, any successor in interest of Lessee or any guarantor of Lessee's obligation hereunder, and any of them, was materially false.
Default by Lessee. If Lessee defaults, Lessor shall have any or all remedies set forth below.
Default by Lessee. Lessee covenants and agrees that if Lessee shall make default in the payment of any Base Rental, Adjusted Base Rental or other charges required to be made by it to Lessor hereunder, or in the faithful performance of any other covenant to be performed by it hereunder, then Lessor may exercise any and all remedies available at law or in equity, including, but not limited to, declare this Agreement terminated and without additional notice to Lessee the Lessor or any of its agents may reenter the Leased Premises and remove all persons and property therefrom, with or without legal process and without prejudice to any of Lessor's other legal rights hereunder and/or, Lessor may take possession of the Leased Premises and re-let the same for the remainder of the term hereof for the account of Lessee, it being understood that under any of said options, Lessee shall remain liable for all rental and other sums payable under the provisions hereof. In the event of any reentry by Lessor, Lessee hereby expressly waives all claims for damages by reason hereof, as well as all claims for damages by reason of any eviction proceedings or proceedings by way of sequestration or any other legal proceedings which Lessor may employ to recover any sums due hereunder or possession of the Leased Premises.
Default by Lessee. If Lessee shall default in any covenant or agreement to be performed by Lessee under this lease, and if after written notice has been sent by Lessor to Lessee, such default shall continue for a period of days, or if the leasehold interest of Lessee shall be taken on execution or other process of law or if Lessee shall petition to be or be declared bankrupt or insolvent according to law or make any conveyance or general assignment for the benefit of creditors or if a receiver be appointed for Lessee’s property and such appointment is not vacated and set aside within days from the date of such appointment, or if proceedings for reorganization, arrangement, composition or other proceedings with creditors be instituted by or against Lessee, then, and in any of such events, Lessor may immediately or at any time thereafter, and without further notice or demand, enter into and upon the premises and take absolute possession of the premises, without such reentry working a forfeiture of the rents to be paid and the covenants to be performed by Lessee for the full term of this lease. In such events, Lessor may at Lessor’s election lease or sublet the premises or any part thereof upon such terms and conditions and for such rent and for such term as Lessor may elect and, after crediting the rent actually collected by Lessor from subletting against the rentals required to be paid under this lease by Lessee, collect from Lessee any balance due on the rent required by this lease.
Default by Lessee. The following shall be deemed to be events of default by Lessee under this Lease;
(1) Lessee shall fail to pay when due any installment of rent or any other payment required pursuant to this Lease and the failure is not cured within five (5) days after written notice to Lessee, provided, however, Lessor shall not be required to give Lessee notice more than two times in any calendar year; (2) Lessee shall fail to comply with any term, provision or covenant of this Lease, other than the payment of rent, and the failure is not cured within thirty days after written notice to Lessee. However, if such nonperformance reasonably requires more than thirty (30) days to cure, Lessee shall not be in default if such cure is commenced within such 30-day period and thereafter diligently pursued to completion; (3) Lessee shall file a petition or be adjudged bankrupt or insolvent under any applicable federal or state bankruptcy or insolvency law or admit that it cannot meet its financial obligations as they become due; or a receiver or trustee shall be appointed for all or substantially all of the assets of Lessee; or Lessee shall make a transfer in fraud of creditors or shall make an assignment for the benefit of creditors; or
Default by Lessee. The occurrence of any of the following events shall constitute a default under this Lease Agreement:
(a) Lessee fails to pay any installment of rent within ten (10) business days after such installment is due, and fails to cure such delinquency within five (5) business days after actual receipt of written notice thereof by Lessee from Lessor:
(b) Lessee fails to pay any additional item or any other charge or sum required to be paid by Lessee hereunder within thirty (30) days after actual receipt of written notice thereof by Lessee from Lessor; or
(c) Lessee fails to perform or commence in good faith and proceed with reasonable diligence to perform any of its covenants under this Lease Agreement within thirty (30) days after actual receipt of written notice thereof by Lessee from Lessor.
Default by Lessee. If Lessee shall allow the rent to be in arrears more than ten (10) days after written notice of such delinquency, or shall remain in default under any other condition of this Lease for a period of fifteen (15) days after written notice from Lessor, Lessor may at its option, without notice to Lessee, terminate this Lease or, in the alternative, Lessor may re-enter and take possession of the Premises and remove all persons and property without being deemed guilty of any manner of trespass and re-let the Premises, or any part of the Premises, for all or any part of the remainder of the Lease term, to a party satisfactory to Lessor and at such monthly rental as Lessor may with reasonable diligence be able to secure. Should Lessor be unable to relet after reasonable efforts to do so, or should such monthly rental be less than the rental Lessee was obligated to pay under this Lease, or any renewal of this Lease, plus the expense of reletting, then Lessee shall pay the amount of such deficiency plus reasonable attorney's fees to Lessor.
Default by Lessee. The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by Lessee:
(a) the failure by Lessee to make any payment required to be made by Lessee hereunder as and when the same becomes due and payable, if such failure continues for a period of 15 days following written notice from Lessor;
(b) the failure by Lessee to observe or perform any of the other covenants, conditions or provisions of this Lease to be observed or performed by Lessee, if such failure continues for a period of 30 days following written notice from Lessor; provided, however, if a reasonable time to cure such default would exceed 30 days, Lessee shall not be in default so long as Lessee begins to cure such default within 30 days of receiving written notice from Lessor and thereafter completes the curing of such default within reasonable period of time (under the circumstances) following the receipt of such written notice from Lessor;
(c) the occurrence of any Bankruptcy Event with respect to Lessee;
(d) the termination of the Ethylene Sales Agreement by Lessor or Lessor’s Affiliates, in accordance with the provisions thereof, due to a breach or default by Lessee thereunder, or due to the occurrence of a Force Majeure (as defined in the Ethylene Sales Agreement); or
(e) the failure by Lessee to operate the Lessee Assets and Additional Improvements for any period of six consecutive months (subject to extension for Force Majeure in accordance with Section 11.18), other than during periods of reconstruction due to the occurrence of a Casualty Event or condemnation, so long as such reconstruction is being performed in compliance with this Lease.
Default by Lessee. Should Lessee fail to comply with any of the terms, covenants, agreements or conditions contained in this Lease, Lessee shall be in default hereunder and Lessor shall have the right, at Lessor’s option, to cancel this Lease effective immediately. The foregoing provision is without prejudice to any remedy which might otherwise be available under the laws of Louisiana for breach of contract. Should Lessor terminate this Lease as provided in this section, Lessor may re-enter said Leased Premises and remove all persons or personal property, without legal process, and all claims for damages by reason of such re-entry are expressly waived. Lessor’s failure to strictly and promptly enforce any of the terms of this Lease shall not operate as a waiver of Lessor’s right. Lessor hereby expressly reserves the right to always enforce the terms of this Lease or to cancel this Lease regardless of any indulgences or extensions previously granted. In the event Lessee defaults in the performance of any of the terms, covenants, agreements or conditions contained in this Lease and Lessor places the enforcement of this Lease for recovery of the possession of the Leased Premises in the hands of an attorney, and/or files suit upon the same, Lessee agrees to pay reasonable attorney’s fees incurred by Lessor.