Default by the Lessee Clause Samples
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Default by the Lessee. (A) If the Lessee shall fail (1) to pay any rental payable hereunder when the same becomes due and payable, time being expressly declared to be of the essence in this Lease Agreement; or (2) to keep, observe or perform any other term, covenant or condition contained herein to be kept or performed by the Lessee; or (B) upon the happening of any of the events specified in subsection (b) of this Section, the Lessee shall be deemed to be in default hereunder and, it shall be lawful for the Lessor to exercise any and all remedies available pursuant to law or granted pursuant to this Lease Agreement. The Lessee shall in no event be in default in the observance or performance of any covenant, condition or agreement in this Lease Agreement on its part to be observed or performed, other than as referred to in clause (A)(1) or (B) of the preceding sentence, unless the Lessee shall have failed, for a period of thirty (30) days or such additional time as is reasonably required, to correct any such default after notice by the Lessor to the Lessee properly specifying wherein the Lessee has failed to perform any such covenant, condition or agreement. The Lessee shall in no event be in default in the observance or performance of any covenant, condition or agreement in this Lease Agreement on its part to be observed or performed under (A)(1) above, unless the Lessee shall have received written notice from the Lessor of its failure to pay any such rental payment and failed, for a period of ten (10) days thereafter, to pay such rental payment. Upon any such default, the Lessor, in addition to all other rights and remedies it may have at law, shall have the option to do any of the following:
(i) To terminate this Lease Agreement in the manner hereinafter provided on account of default by the Lessee, notwithstanding any re-entry or re- letting of the Premises as hereinafter provided for in subparagraph (2) hereof, and to re-enter the Premises and remove all persons in possession thereof and all personal property whatsoever situated upon the Premises and place such personal property in storage in any warehouse or other suitable place located within the geographical boundaries of the Lessee, for the account of and at the expense of the Lessee. In the event of such termination, the Lessee agrees to surrender immediately possession of the Premises, without let or hindrance, and to pay the Lessor all damages recoverable at law that the Lessor may incur by reason of default by the L...
Default by the Lessee. If (a) the Lessee defaults in the payment of the Rent or any additional charge or cost to be paid by the Lessee as provided in this Lease and such default shall continue uncorrected for a period of five (5) days after written notice, or (b) the Lessee defaults in the performance and observance of any of the terms and conditions of this Lease to be performed or observed by the Lessee and such default shall continue uncorrected for a period of thirty (30) days after written notice, or (c) any execution, attachment, or other order of court shall be issued upon or against the interest of the Lessee in this Lease and shall continue for a period of thirty (30) days after written notice, then and in any such event, interest shall accrue on all monetary obligations owed under this Lease at the lesser of the prime rate of BancorpSouth Bank (or its successor) plus four percent (4%), or the maximum rate permissible by law, and in addition to any and all rights and remedies allowed by law and equity, the Lessor may terminate this Lease with written notice to the Lessee.
Default by the Lessee. The occurrence of any of the following shall constitute an event of default with respect to the Lessee:
(a) the Lessee shall fail to keep the Public Lateral Pipeline in good repair and good operating condition as required by Section 3.1; or
(b) the Lessee shall fail to maintain the insurance required by Section 3.1; or
(c) the Lessee shall otherwise fail to comply with any material provision of this Use Agreement;
(d) the Company shall fail to make the payment required to remedy any action or inaction by the Company under Section 17(4)(b)(iii) of the Inducement Agreement in the manner and within the cure period set forth therein; or
(e) the Company shall fail to make any payment when due under that certain Agreement, dated as of the date hereof, between the Company and Panola Partnership, Inc.; provided, in each case, the Authority or the Public Owner shall first give the Lessee a written notice specifying the nature of the Lessee's failure to be in compliance with its obligations under this Use Agreement and following receipt by the Lessee of such written notice from the Authority, the Lessee shall have (other than with respect to the default described in clause (d)) a period of one hundred eighty (180) days (or fifteen (15) days in the case of a failure of the Lessee to make a payment required to be made by it hereunder) after receipt of such written notice within which to cure any such default or failure; provided, however, that, if any such default or failure cannot be cured within one hundred eighty (180) days with the exercise of due diligence by the Lessee, and if the Lessee, within such period submits to the Authority and the County a plan reasonably designed to correct the default within a reasonable additional period of time necessary to cure such failure or default (not to exceed six (6) months) then the Lessee shall not be in default hereunder unless Lessee fails to diligently pursue such cure or fails to cure such default or failure within the additional period of time specified by the plan.
Default by the Lessee. In the event Lessee fails to pay the rent as herein stipulated, or fails to comply with any of the terms and conditions of this lease, then Lessor may continue the lease and recover damages for such failure, or unless Lessee corrects or remedies any such failure or default within thirty (30) days or such other time limitation as may be specifically provided for elsewhere in this lease, after Lessor has mailed written notice of same to Lessee, except that only ten (10) days notice shall be required with respect to failure to pay rent, then Lessor may elect to declare this lease forfeited and terminated and at the end in all respects, and may, thereupon enter and take possession of said premises for said breach and rerent the same to such Lessee as in the discretion of Lessor may be deemed suitable and proper. Should, through no fault of Lessee, the default be unable to be cured within said thirty (30) day period, Lessee shall have an additional reasonable time in which to cure said default. Should Lessor declare this lease terminated and forfeited as aforesaid, then Lessee agrees to surrender peaceful possession of same, and Lessor may re-enter with or without legal process.
Default by the Lessee. The occurrence of any one or more of the following events constitutes a default by the Lessee under this Agreement ("Lessee Default"):
(a) Failure by the Lessee at any time to pay, when due, any sums payable by the Lessee to Gateway hereunder within five (5) Business Days after notice of such failure is given to the Lessee by Gateway;
(b) Failure by the Lessee to observe or perform any other covenant, agreement, condition or provision of this Agreement, if such failure shall continue for more than thirty (30) days; PROVIDED, HOWEVER, that the Lessee shall not be in default with respect to matters that cannot be reasonably cured within thirty (30) days, so long as the Lessee has promptly commenced such cure and diligently proceeds in a reasonable manner to complete the same thereafter;
(c) The Lessee admits in writing its inability to pay its debts as they mature, or makes an assignment for the benefit of creditors, or applies for or consents to the appointment of a trustee or receiver for the Lessee or for a major part of its property;
(d) A trustee or receiver is appointed for the Lessee or for a major part of its property and is not discharged within thirty (30) days after such appointment; or
(e) Bankruptcy, reorganization, receivership, arrangement, insolvency or liquidation proceedings, or other proceedings for relief under any federal or state bankruptcy law, or similar law for the relief of debtors, are instituted by or against the Lessee, and, if instituted against the Lessee, are allowed against it or are consented to by it or are not dismissed within ninety (90) days after such institution.
Default by the Lessee. LESSEE shall be in default if payment of rental is not received by LESSOR or LESSOR’S agent as herein provided within fifteen (15) days of each due date. Default on the part of LESSEE in keeping or performing any term or condition herein shall authorize LESSOR at its option, and upon thirty (30) days written notice thereof to LESSEE to declare this Lease terminated by default of LESSEE. However, immediately upon default, without regard to the thirty day notice requirement; LESSOR, if he feels insecure concerning LESSEE’S intention or ability to pay rental or to keep or perform any other term or condition herein, may re-enter the premises and take possession of all personal property therein found, without legal process; also upon such default, all rental due hereunder for the balance of the term of the Lease shall become immediately due and payable, But LESSEE shall remain obligated to keep and perform such other term and condition other than the payment of rentals and continued occupancy, and shall be liable for additional damages for failure to keep any such other term and condition. However, in the event of default, LESSOR shall attempt to relet the premises to some other tenant and shall after first recouping all expenses and remodeling costs incurred incident to the reletting, then refund to LESSEE monthly rentals collected up to LESSEE’S regular monthly rental.
Default by the Lessee. The occurrence of any one or more of the following events shall constitute a default (each, a "Lessee Event of Default") and breach of this Agreement by the Lessee:
(a) failure by the Lessee to make any payment of the quoted Upfront Fee and quoted Annual rentals or any other payment due to the Lessor as and when due;
(b) the Lessee abandons the Property for sixty (60) Days or more at any time during the Lease Term, unless such abandonment is in accordance with the order of any Public Sector Entity or at the advice of the architect/ engineer or other consultants of the Project; and
(c) the Lessee commits any material breach of the terms and covenants herein which is not remedied within sixty (60) Days after notice by the Lessor to the Lessee, which notice states that a material breach of this Agreement has occurred that could result in termination of the Agreement, identifies the breach in question in reasonable detail and demands remedy thereof.
Default by the Lessee. In the event the Lessee is in default of any of the terms or obligations of the Lease, violates and/or fails to comply with any of the covenants, terms, or conditions of the Lease, or any community policies/Rules and Regulations herein or hereafter adopted by the Lessor, said default shall constitute grounds for termination of the tenancy and/or eviction by the Lessor. It is expressly understood and agreed that the Lessee shall be and remain liable for any deficiency in rent until the Lease expires or until such time as in their interim, the Premises are reoccupied by another acceptable tenant. The Lessee hall also be and remain liable for any expense incidental to re-letting, cleaning costs beyond normal wear and tear, trash removal, painting cost, or default under the Lease.
Default by the Lessee. If any of the events in Clause 9.2.1 above shall have occurred pursuant to the default by the Lessee, then it shall be lawful for the Lessor at any time thereafter to give notice in writing to the Lessee specifying the relevant default and requiring the Lessee to remedy the default within a period specified in the notice taking into account the nature of the remedy to be carried out by the Lessee but shall in no event be less than a duration of thirty (30) days and if the Lessee fails to remedy the default within such period, the Lessor shall be entitled to terminate this Agreement immediately by written notice, whereupon the lease hereby created shall absolutely determine but without prejudice to the right of action of the Lessor in respect of any antecedent breach of the Lessee’s covenants, terms or stipulations herein contained.
Default by the Lessee