Common use of Default by Lessee Clause in Contracts

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. The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by the Lessee: (a) The vacating or abandonment of the Premises by the Lessee combined with the failure by to pay rent; (b) The failure of the Lessee to make any payment of rent or any other payment required to be made by the Lessee hereunder hereunder, as and when the same becomes due and payabledue, if where such failure continues shall continue for a period of 15 three (3) days following after written notice thereof from Lessorthe Lessor to the 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; (bc) the The failure by the Lessee to observe or perform any of the other covenants, conditions or provisions of this Lease (or the covenants, conditions and restrictions governing the Project) to be observed or performed by the Lessee, if other than described in Paraaraph l2.1(b) hereof, where such failure continues shall continue for a period of 30 thirty (30) days following after written notice thereof from Lessorthe Lessor to the 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 a reasonable time to cure the nature of the Lessee's default is such default would exceed 30 daysthat more than thirty (30) days are reasonably required for its cure, then the Lessee shall not be deemed to be in default so long as if the Lessee begins to commences such cure such default within 30 days of receiving written notice from Lessor said thirty (30) day period and thereafter completes the curing of diligently prosecutes 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 cure to Lessee;completion; or (d) The making by the termination Lessee of any general assignment or general arrangement for the benefit of creditors; the filing by or against the Lessee of a petition to have the Lessee adjudged a bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against the Lessee, the same is dismissed within sixty (60) days); the appointment of a trustee or receiver to take possession of substantially all of the Ethylene Sales Agreement by Lessor or Lessor’s Affiliates, in accordance with Lessee's assets located at the provisions thereof, due to a breach or default by Lessee thereunderPremises, or due of the Lessee's interest in this Lease, where possession is not restored to the occurrence Lessee within thirty (30) days; or the attachment, execution or other judicial seizure of a Force Majeure (as defined substantially all of the Lessee's assets located at the Premises or of the Lessee's interest 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, where such seizure is not discharged within thirty (30) days.

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 the Lessee: (a) The vacating or abandonment of the Premises by the Lessee combined with the failure by to pay rent; (b) The failure of the Lessee to make any payment of rent or any other payment required to be made by the Lessee hereunder hereunder, as and when the same becomes due and payabledue, if where such failure continues shall continue for a period of 15 three (3) days following after written notice thereof from Lessorthe Lessor to the 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; (bc) the The failure by the Lessee to observe or perform any of the other covenants, conditions or provisions of this Lease (or the covenants, conditions and restrictions governing the Project) to be observed or performed by the Lessee, if other than described in Paragraph 12.1(b) hereof, where such failure continues shall continue for a period of 30 thirty (30) days following after written notice thereof from Lessorthe Lessor to the 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 a reasonable time to cure the nature of the Lessee's default is such default would exceed 30 daysthat more than thirty (30) days are reasonably required for its cure, then the Lessee shall not be deemed to be in default so long as if the Lessee begins to commences such cure such default within 30 days of receiving written notice from Lessor said thirty (30) day period and thereafter completes the curing of diligently prosecutes 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 cure to Lessee;completion; or (d) The making by the termination Lessee of any general assignment or general arrangement for the benefit of creditors; the filing by or against the Lessee of a petition to have the Lessee adjudged a bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against the Lessee, the same is dismissed within sixty (60) days); the appointment of a trustee or receiver to take possession of substantially all of the Ethylene Sales Agreement by Lessor or Lessor’s Affiliates, in accordance with Lessee's assets located at the provisions thereof, due to a breach or default by Lessee thereunderPremises, or due of the Lessee's interest in this Lease, where possession is not restored to the occurrence Lessee within thirty (30) days; or the attachment, execution or other judicial seizure of a Force Majeure (as defined substantially all of the Lessee's assets located at the Premises or of the Lessee's interest 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, where such seizure is not discharged within thirty (30) days.

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 The failure by Lessee to make when due any payment of rentals or any other payment required to be made by Lessee hereunder as and when the same becomes due and payablehereunder, if such failure continues for a period of 15 days Business Days following written notice from Lessor; (b) the 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 a reasonable period of time (under the circumstances) following the receipt of such written notice from Lessor; (c) the The occurrence of any Bankruptcy Event with respect to Proceeding on the part of Lessee; (d) the The termination of the Ethylene Sales Refining Agreement by Lessor or Lessor’s Affiliates, the Big West Party thereunder in accordance with the provisions thereof, of Section 16.2 thereof due to a breach or default by Lessee the non-Big West Party 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.