Common use of Default by Lessee Clause in Contracts

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

Appears in 1 contract

Sources: Commercial Lease (Mathstar Inc)

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 ten (51O) 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 abandon any substantial portion of the leased premises; (3) 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 twenty (20) 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; (34) 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, or (5) Lessee shall do or permit to be done any act which results in a lien being filed against the leased premises or the building and/or project of which the leased premises are a part.

Appears in 1 contract

Sources: Standard Office Showroom/Warehouse Commercial Lease (Bollinger Industries Inc)

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; Lease; (2) Lessee shall vacate the leased premises; (3) 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; (34) 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 (5) Lessee shall do or permit to be done any act which results in a lien being filed against the leased premises or the building and/or project of which the leased premises are a part.

Appears in 1 contract

Sources: Commercial Lease (Allstar Systems Inc)

Default by Lessee. The following shall be deemed to be events of default by Lessee under this Lease;: (1) Lessee shall fail to pay 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; Lease; (2) Lessee shall abandon any substantial portion of the leased premises; (3) 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 "interlineated text" 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; (34) Lessee shall file a petition or be adjudged bankrupt or insolvent under any applicable federal or state bankruptcy or insolvency law 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 (5) Lessee shall do or permit to be done any act which results in a lien being filed against the leased premises or the building and/or project of which the leased premises are a part.

Appears in 1 contract

Sources: Standard Commercial Lease (Microtune Inc)

Default by Lessee. The following shall be deemed to be events of default by Lessee LESSEE under this Lease; (1a) Lessee shall fail LESSEE fails to pay when due any installment of rent or any other payment required pursuant to this Lease and the failure when due; which is not cured within five ten (510) days after written from receipt or LESSOR’s notice to Lessee, provided, however, Lessor shall not be required LESSEE regarding such failure to give Lessee notice more than two times in pay rent. (b) LESSEE fails to perform any calendar year; (2) Lessee shall fail to comply with any term, provision or covenant of other obligation under this Lease, other than the payment of rent, and the failure which is not cured within thirty days after written notice to Lessee. However, if such nonperformance reasonably requires more than thirty (30) days from receipt of LESSOR's notice to cure, Lessee shall not be in default if LESSEE regarding such cure is commenced within such 30-day period and thereafter diligently pursued to completion; failure of performance; (3c) Lessee shall file LESSEE files a petition or be is adjudged bankrupt or insolvent under any applicable federal or state bankruptcy or insolvency law or admit admits that it cannot meet its financial obligations as they become due; or a receiver or trustee shall be is appointed for all or substantially all of the assets of Lesseethe LESSEE; or Lessee shall make LESSEE makes a transfer in fraud of creditors or shall make makes an assignment for the benefit of creditors; or, and such actions are not dismissed or discharged within thirty (30) days.

Appears in 1 contract

Sources: Lease Agreement (Pacific Fuel Cell Corp)

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 of written notice to Lessee, provided, however, Lessor shall not be required to give Lessee notice more than two times in any calendar year; of such failure; (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 (4) Lessee shall do or permit to be done any act which results in a lien or claim of lien being filed against the leased premises or the building and or project of which the leased premises are a part, and such lien is not removed or endorsed over within ten days.

Appears in 1 contract

Sources: Lease Agreement (SPR Inc)

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; Lease; (2) Lessee shall abandon any substantial portion of the leased premises; (3) 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 ten 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; (34) 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 make, a transfer in fraud of creditors or shall make an assignment for the benefit of creditors; or (5) Lessee shall do or permit to be done any act which results in a lien being filed against the leased premises or the building and/or project of which the leased premises are a part.

Appears in 1 contract

Sources: Standard Commercial Lease (Industrial Data Systems Corp)

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 within ten (10) days of its due date any installment of rent Base Rent, or within twenty (20) days of its due date 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; Lease; (2) Lessee shall abandon any substantial portion of the Leased Premises; (3) Lessee shall fail to comply with any the term, provision or covenant of this Lease, other than the payment of rent, and the failure is not cured within thirty (30) 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; (34) 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

Appears in 1 contract

Sources: Lease Agreement (Community Financial Group Inc)

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; Lease; (2) Lessee shall abandon any substantial portion of the leased premises; (3) 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 ten 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; (34) 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 (5) Lessee shall do or permit to be done any act which results in a lien being filed against the leased premises or the building and/or project of which the leased premises are a part.

Appears in 1 contract

Sources: Standard Commercial Lease (Spacehab Inc \Wa\)

Default by Lessee. The following shall be deemed to be events of default by Lessee under this Lease;Lessee: (1) Lessee shall fail to pay when due any installment of rent or any other payment required pursuant to this Lease and including the failure is not cured within five (5) days after written notice to pay Lessee’s Proportionate Share of operating expenses, provided, however, Lessor shall not be required to give Lessee notice more than two times in or any calendar year; part thereof; (2) Lessee shall abandon any substantial portion of the leased premises; (3) 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; (34) 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 an effort to defraud creditors or shall make an assignment for the benefit of creditors; however, if such a petition is filed against Lessee, then such filing shall not be an event of default unless Lessee fails to have the proceedings initiated by such petition dismissed within sixty (60) calendar days after the filing thereof; or

Appears in 1 contract

Sources: Lease Agreement (Radiant Systems Inc)

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 such failure is not cured within five (5) ten 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 abandon any substantial portion of the leased premises; (3) 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 20 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; (34) 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 (5) Lessee shall do or permit to be done any act which results in a lien being filed against the leased premises or the building and/or project of which the leased premises are a part.

Appears in 1 contract

Sources: Sublease Agreement (Interactive Entertainment LTD)

Default by Lessee. The following shall be deemed to be events of default by Lessee under this Lease;: (1) Lessee shall fail to pay 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; Lease; (2) Lessee shall abandon any substantial portion of the leased premises; (3) 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 ten 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; (34) Lessee shall file a petition or be adjudged bankrupt or insolvent under any applicable federal or state bankruptcy or insolvency law 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 (5) Lessee shall do or permit to be done any act which results in a lien being filed against the leased premises or the building and/or project of which the leased premises are a part.

Appears in 1 contract

Sources: Commercial Lease (Learningstar Inc)