Common use of Default by the Lessee Clause in Contracts

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. 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 Facility Components 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;; or (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.