Common use of Default Events Clause in Contracts

Default Events. The occurrence of any one of the following events shall constitute a default and breach of this Agreement by Tenant: 1. The vacating or abandonment of the Leased Premises by Tenant. Failure to occupy and operate the Leased Premises for ten (10) consecutive days shall be deemed an abandonment and vacation; 2. The failure to report as required by Section 9 of this Agreement; 3. If the Tenant fails to observe or fails to perform, or violates any of the covenants, conditions or provisions of this Lease, and if such failure or violation is not cured within five (5) days after written notice has been sent to Tenant, unless the default cannot reasonably be cured within five (5) days and Tenant takes action to cure the default within the five (5) day period and diligently and in good faith continues to cure the default; 4. The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the petition is dismissed within sixty (60) days); the taking of possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement, where possession is not restored to Tenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement where such seizure is not discharged within thirty (30) days; 5. Failure to pay rent or any other sums payable by Tenant under this Lease when due after Landlord provides Tenant with written notice of such failure to pay and Tenant fails to cure after five (5) days of receipt of such notice; 6. Any representation or warranty by Tenant was materially false or inaccurate at the time of the execution of this Lease.

Default Events. The occurrence of any one of the following events shall constitute be deemed to be events of default by Lessee under the Lease (each a default and breach “Default Event”): 28.1.1. Lessee fails to pay any Rent due under this Lease, which failure continues for a period of this Agreement by Tenant: 1. The vacating or abandonment of the Leased Premises by Tenant. Failure to occupy and operate the Leased Premises for ten (10) consecutive business days shall be deemed an abandonment and vacationafter it is due; 228.1.2. The failure to report as required by Section 9 of this Agreement; 3. If the Tenant Lessee fails to observe comply with any term, provision or fails to perform, or violates any of the covenants, conditions or provisions covenant of this Lease, other than paying its Rent, and if does not cure such failure or violation is not cured within five thirty (530) days after LAWA has sent written notice has been sent to TenantLessee specifying such failure; provided, unless the default canhowever, that where ▇▇▇▇▇▇’s performance of such covenant, condition or agreement is not reasonably be cured susceptible of completion within five such thirty (5) days and Tenant takes action to cure the default within the five (530) day period and diligently and Lessee has in good faith continues commenced and is continuing to cure perform the defaultacts necessary to perform such covenant, condition or agreement within such thirty (30) day period, LAWA will not exercise any remedy available to it hereunder for so long as ▇▇▇▇▇▇ uses reasonable due diligence in continuing to pursue to completion the performance such covenant, condition or agreement and so completes performance within 180 days of receipt of the initial notice from LAWA, unless a longer time period is agreed to by the Chief Executive Officer; 428.1.3. ▇▇▇▇▇▇ makes an assignment of this Lease, or any rights granted to Lessee hereunder, to, and for the benefit of, ▇▇▇▇▇▇’s creditors; 28.1.4. Lessee, within thirty (30) days after the commencement of any proceeding against Lessee seeking adjudication of bankruptcy or reorganization, rearrangement, composition, readjustment, liquidation, dissolution or similar relief, fails to cause such proceedings to be dismissed; 28.1.5. Lessee, within sixty (60) days after the appointment without ▇▇▇▇▇▇’s consent or acquiescence of any trustee, receiver, or liquidator of Lessee or a material part of its assets, fails to cause such appointment to be vacated. 28.1.6. The making interests of Lessee under this Lease shall not, except at City’s option and with its written consent, be assignable by Tenant operation of law. In case of the bankruptcy of Lessee, or the appointment of a receiver for ▇▇▇▇▇▇ and such receiver is not removed within one hundred twenty (120) days from the date of appointment, or if a receiver is appointed to take possession of the Premises as a result of any general act or omission of Lessee and such receiver is not removed within one hundred twenty (120) days from the date of appointment, or if ▇▇▇▇▇▇ makes an assignment of this Lease for the benefit of creditors; the filing by , or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the petition is dismissed within sixty (60) days); the taking of if possession of substantially all of Tenant’s assets located at the Premises or is taken by virtue of Tenant’s interest in this Agreementany attachment, where possession is not restored to Tenant within thirty (30) days; execution, or the attachmentlevy of any judicial process, execution or other judicial seizure of substantially all of Tenant’s assets located City, at the Premises or of Tenant’s interest in this Agreement where such seizure is not discharged within thirty (30) days; 5. Failure to pay rent or any other sums payable by Tenant under this Lease when due its election, may, after Landlord provides Tenant with written notice of such failure to pay and Tenant fails to cure after five (5) days of receipt of such notice; 6. Any representation or warranty by Tenant was materially false or inaccurate at the time of the execution of Lessee, terminate this Lease.

Default Events. 7.1 The occurrence of any one of the following events shall constitute a default and breach of this Agreement by Tenantbe deemed Default Events: 1. 7.1.1 The vacating or abandonment of Pledgor fails to perform any obligation under the Leased Premises by Tenant. Failure to occupy and operate the Leased Premises for ten (10) consecutive days shall be deemed an abandonment and vacation; 2. The failure to report as required by Section 9 of this Loan Agreement; 3. If the Tenant 7.1.2 ▇▇▇▇▇ ▇▇▇▇ fails to observe or fails to perform, or violates any of the covenants, conditions or provisions of this Lease, and if such failure or violation is not cured within five (5) days after written notice has been sent to Tenant, unless the default cannot reasonably be cured within five (5) days and Tenant takes action to cure the default within the five (5) day period and diligently and in good faith continues to cure the defaultfully perform other related obligation; 4. The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the petition is dismissed within sixty (60) days); the taking of possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement, where possession is not restored to Tenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement where such seizure is not discharged within thirty (30) days; 5. Failure to pay rent or any other sums payable by Tenant under this Lease when due after Landlord provides Tenant with written notice of such failure to pay and Tenant fails to cure after five (5) days of receipt of such notice; 6. 7.1.3 Any representation or warranty made by Tenant was the Pledgor in Article 5 hereof is materially false misleading or inaccurate at wrong, and/or the time Pledgor breaches any warranty in Article 5 hereof; 7.1.4 The Pledgor breaches any covenants in Article 6 hereof; 7.1.5 The Pledgor breaches any other provisions hereof; 7.1.6 The Pledgor abandons the pledged Shares, or without written consent of the execution Pledgee transfers the pledged Shares; 7.1.7 Any loan, security, indemnity, covenant or other repayment liability of this Leasethe Pledgor to others (1) is requested to be repaid or performed early for any breach; or (2) becomes due but is unable to be repaid or performed, and thus causes the Pledgee to believe that the Pledgor’s ability to perform its obligations hereunder has been impaired; 7.1.8 ▇▇▇▇▇ ▇▇▇▇ fails to repay any general debt or other indebtedness; 7.1.9 This Agreement becomes illegal, or the Pledgor cannot perform any obligation hereunder for any reason other than force majeure; 7.1.10 Any adverse change occurs to any property owned by the Pledgor, which causes the Pledgee to believe that the Pledgor’s ability to perform its obligations hereunder has been impaired; 7.2 If the Pledgor knows or finds that any event set forth in Article 7.1 or any matter that may cause such event has occurred, it shall immediately notify the Pledgee in writing. 7.3 Unless the Default Event set forth in Article 7.1 has been resolved satisfactory to the Pledgee, the Pledgee may send notice of default to the Pledgor in writing at any time on or after occurrence of the Default Event, requesting the ▇▇▇▇▇▇▇ to immediately pay any outstanding amount or other payable amount under the Loan Agreement, or dispose of the Pledge according to Article 8 hereof.

Default Events. The occurrence of any one of the following events shall constitute a default and breach of this Agreement by Tenant: (1. ) The vacating or abandonment of the Leased Premises by Tenant. Failure to occupy and operate the Leased Premises for ten twenty-one (1021) consecutive days shall be deemed an abandonment and vacation; (2. ) The failure to report as required by Section 9 of this Agreement; (3. ) If the Tenant fails to observe or fails to perform, or violates any of the covenants, conditions or provisions of this Lease, and if such failure or violation is not cured within five (5) days after written notice has been sent to Tenant, unless the default cannot reasonably be cured within five (5) days and Tenant takes action to cure the default within the five (5) day period and diligently and in good faith continues to cure the default; (4. ) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the petition is dismissed within sixty (60) days); the taking of possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement, where possession is not restored to Tenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement where such seizure is not discharged within thirty (30) days; (5. ) Failure to pay rent or any other sums payable by Tenant under this Lease when due after Landlord provides Tenant with written notice of such failure to pay and Tenant fails to cure after five (5) days of receipt of such notice; (6. ) Any representation or warranty by Tenant was materially false or inaccurate at the time of the execution of this Lease.

Default Events. The occurrence of any one 9.1 Any of the following event or events shall constitute is a default and breach of to this Agreement by Tenantagreement: (1. The vacating ) Any default events stated in Credit Agreement; (2) Borrower does not make full satisfaction to any debt owe to Pledgee according to Credit Agreement; (3) Pledgor transfers accounts receivable without permission or abandonment have it disposed in any other way, or establish or try to establish any guarantee interest on any part of accounts receivable; (4) Pledgor violates the Leased Premises by Tenant. Failure to occupy statement and operate guarantee provisions as stipulated in Article 7 herein and the Leased Premises for promise provisions as stipulated in Article 8 herein; and within ten (10) consecutive working days shall be deemed an abandonment starting from the earlier of a) the date when Pledgor learns about such violation and vacationb) the date when Guarantee Agent Bank notifies the Pledgor for remedy, Pledgor fails to make remedy satisfactory to the Guarantee Agent Bank; 2. The failure to report as required by Section 9 of this Agreement; 3. If the Tenant fails to observe or fails to perform, or violates any of the covenants, conditions or provisions of this Lease, and if such failure or violation is not cured within five (5) days after Any lawsuit, arbitration or administrative proceedings related to accounts receivable which under reasonable consideration of Pledgor may exert a critical adverse effect to the value of accounts receivable; (6) Pledgor agrees or proposes without previous written notice has been sent agreement of Pledgee to Tenantmodify the Basic Trade Contract, unless causing substantial effect or damage to the default canrights of Pledgee; (7) Pledgor or Obligor violates any obligations under Basic Trade Contract, and such violation, while under the reasonable consideration of Pledgee, may damage the guarantee interests of Pledgee under this agreement; (8) Pledgor violates any other obligations under this agreement or any other events which Pledgee considers may cause critical adverse effect. 9.2 Guarantee Agent Bank is entitled to (must, if required by the majority of participant banks) implement one or several methods as follows when breach as stipulated hereinabove occurs: (1) If the credit fund is not reasonably issued, send the borrower a written notification, announce the credit fund which is demanded by all or any Drawing notification but not yet drawn or issued. After the announcement, drawing or issuing of such credit fund is immediately stopped; (2) Send the borrower a written notification to announce that all or part of the credit balances, including all accrued interest, costs and other payments under this agreement are due and shall be cured within five payable immediately; (3) Send the Pledgor a written notification to announce the implementation of creditor’s rights under this agreement; (4) Send the borrower a written notification to require that borrower shall additionally provide guarantee for principal creditor’s right under credit agreement; (5) days Send the Pledgor a written notification to require that Pledgor shall make compensations for all direct or indirect losses (including but not limited to the secured debt) occurred to Guarantee Agent Bank due to breach by Pledgor; (6) Institute a legal proceeding to the people’s court located at the place where this agreement is signed; (7) Execute other rights bestowed by laws and Tenant takes action to cure the default within the five this agreement. 9.3 Compensation as specified in item (5) day period and diligently and in good faith continues of Article 9.2 shall constitute an independent debt owed by Pledgor to cure Pledgee that shall be payable upon request. 9.4 At the default; 4. The making by Tenant request of any general assignment participant bank and with written evidence, Pledgor shall compensate for the benefit any losses, expenses (including but not limited to legal expenses and expense in litigation, etc.) or costs caused to such participant bank due to its breach or failure of creditorsobligation fulfillment under this agreement; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenanthowever, the petition is dismissed within sixty (60) days); participant bank can only exert such rights through the taking of possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement, where possession is not restored to Tenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement where such seizure is not discharged within thirty (30) days; 5. Failure to pay rent or any other sums payable by Tenant under this Lease when due after Landlord provides Tenant with written notice of such failure to pay and Tenant fails to cure after five (5) days of receipt of such notice; 6. Any representation or warranty by Tenant was materially false or inaccurate at the time of the execution of this LeaseGuarantee Agent Bank.

Default Events. The occurrence of any one of the following events shall constitute a default and breach of this Agreement be deemed to be “Default Events” by TenantConcessionaire under the Agreement: 129.1.1. The vacating or abandonment Concessionaire fails to pay any amount when due under this Agreement, which failure continues for a period of the Leased Premises by Tenant. Failure to occupy and operate the Leased Premises for ten (10) consecutive days shall be deemed an abandonment after such payment should have been paid pursuant to the terms and vacation; 2. The failure to report as required by Section 9 conditions of this Agreement; 3290.1.2. If the Tenant Concessionaire fails to observe comply with any term, provision or fails to perform, or violates any of the covenants, conditions or provisions covenant of this LeaseAgreement, other than paying amounts when due, and if does not cure such failure within thirty (30) days after LAWA has sent written notice to Concessionaire specifying such failure or violation is not cured within five (5) days after written notice has been sent to Tenant, unless the default cannot reasonably such longer period of time as may be cured within five (5) days and Tenant takes action granted by Executive Director to cure the such default as long as Concessionaire commences to cure such default within the five such ten (530) day period and diligently and in good faith continues proceeds to cure the such default; 429.1.3. Concessionaire makes an assignment of this Agreement, or any rights granted to Concessionaire hereunder, to, and for the benefit of, Concessionaire’s creditors; 29.1.4. Concessionaire, within thirty (30) days after the commencement of any proceeding against Concessionaire seeking adjudication of bankruptcy or reorganization, rearrangement, composition, readjustment, liquidation, dissolution or similar relief, fails to cause such proceedings to be dismissed; 29.1.5. Concessionaire, within sixty (60) days after the appointment without Concessionaire's consent or acquiescence of any trustee, receiver, or liquidator of the Concessionaire’s or a material part of its assets, fails to cause such appointment to be vacated. 29.1.6. The making interests of Concessionaire under this Agreement shall not, except at City's option and with its written consent, be assignable by Tenant operation of law. In case of the bankruptcy of Concessionaire, or the appointment of a receiver for Concessionaire and such receiver is not removed within one hundred twenty (120) days from the date of appointment, or if a receiver is appointed to take possession of Concessionaire’s equipment at LAX as a result of any general act or omission of Concessionaire and such receiver is not removed within one hundred twenty (120) days from the date of appointment, or if Concessionaire makes an assignment of this Agreement for the benefit of creditors; the filing by , or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the petition is dismissed within sixty (60) days); the taking of if possession of substantially all the Concessionaire’s equipment at LAX is taken by virtue of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreementany attachment, where possession is not restored to Tenant within thirty (30) days; execution, or the attachmentlevy of any judicial process, execution or other judicial seizure of substantially all of Tenant’s assets located City, at the Premises or of Tenant’s interest in this Agreement where such seizure is not discharged within thirty (30) days; 5. Failure to pay rent or any other sums payable by Tenant under this Lease when due its election, may, after Landlord provides Tenant with written notice of such failure to pay and Tenant fails to cure after five (5) days of receipt of such notice; 6. Any representation or warranty by Tenant was materially false or inaccurate at the time of the execution of Concessionaire, terminate this LeaseConcession.

Default Events. The Without derogating from any of the Lender`s rights hereunder, immediately upon the occurrence of a Default Event, any and all accrued and outstanding Loan Amount will become due and payable. For purposes of this Agreement, the occurrence of any one of the following events shall constitute a default and breach of this Agreement by Tenant: 1. The vacating or abandonment of the Leased Premises by Tenant. Failure to occupy and operate the Leased Premises for ten (10) consecutive days shall be deemed an abandonment and vacation;a "Default Event": 26.1. The failure to report as required Any material breach by Section 9 the Borrower of any of its obligations or representations under this Agreement; 3. If the Tenant fails to observe or fails to perform, or violates any of the covenants, conditions or provisions of this Lease, and if such failure or violation which breach is not cured within five (5) days after written notice has been sent to Tenant, unless the default cannot reasonably be cured within five (5) days and Tenant takes action to cure the default within the five (5) day period and diligently and in good faith continues to cure the default; 4. The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the petition is dismissed within sixty (60) days); the taking of possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement, where possession is not restored to Tenant within thirty (30) days; days of receipt of notice of such breach from the Lender. 6.2. The commencement by the Borrower of any liquidation proceedings or the attachmentadoption of a winding up resolution by the Borrower, or the appointment of a receiver or trustee over all or any part of the Borrower's assets, or the calling by Borrower of a meeting of creditors for the purpose of entering into a scheme or arrangement with them, in each case if not canceled within forty five (45) days of its initiation. The Borrower shall notify the Lender within seven (7) days of any such proceeding. 6.3. The levy of an attachment with respect to, or the institution of execution proceedings against, all or other judicial seizure a material part of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreement Borrower's assets, where such seizure attachment or execution proceeding is not discharged within forty five (45) days. The Borrower shall notify the Lender within seven (7) days of any such attachment or proceeding. 6.4. Any action of the Borrower outside the ordinary course of business which may cause a material adverse change in the financial situation, operations, or business of the Borrower, all in Lender`s reasonable opinion, provided Borrower has received written notice from Lender objecting to such action and Borrower has not remedied the situation within thirty (30) days; 5. Failure to pay rent or any other sums payable by Tenant under this Lease when due after Landlord provides Tenant with written notice days of such notice. 6.5. Borrower's failure to pay when due any indebtedness for borrowed money of the Borrower, or upon any indebtedness for borrowed money of the Borrower becoming capable of being declared to be or being declared to be due and Tenant fails payable prior to cure after five its specified maturity date by reason of the occurrence of a default or a mandatory prepayment event (5however described), or upon the cancellation of any commitment to lend under any facility available to the Borrower by reason of the occurrence of any default or mandatory prepayment event (however described), provided that with respect to each of the foregoing, the Borrower has not remedied the situation within thirty (30) days of receipt of such notice; 6. Any representation or warranty by Tenant was materially false or inaccurate at the time of the execution of this Leasebecoming aware thereof.

Default Events. The occurrence of any one of the following events (each a “Default Event”) shall constitute a be deemed to be events of default and breach of this Agreement by TenantLessee under the Lease: 170.1.1. The vacating or abandonment Lessee fails to pay any Monthly Rent due under this Lease, which failure continues for a period of the Leased Premises by Tenant. Failure to occupy and operate the Leased Premises for ten (10) consecutive days shall be deemed an abandonment after such payment should have been paid pursuant to the terms and vacationconditions of this Lease; 270.1.2. The failure to report as required by Section 9 of this Agreement; 3. If the Tenant Lessee fails to observe comply with any term, provision or fails to perform, or violates any of the covenants, conditions or provisions covenant of this Lease, other than paying its Monthly Rent, and if does not cure such failure or violation is not cured within five ten (510) days after Lessor has sent written notice has been sent to TenantLessee specifying such failure, unless the default cannot reasonably be cured within five provided that in lieu of such ten (510) day period, Lessee shall have thirty (30) days and Tenant takes action to cure the default within the five (5) day period and diligently and in good faith continues such failure if Lessee provides a plan to cure the its default and Lessee diligently proceeds to cure such default; 470.1.3. ▇▇▇▇▇▇ makes an assignment of this Lease, or any rights granted to Lessee hereunder, to, and for the benefit of, ▇▇▇▇▇▇'s creditors; 70.1.4. Lessee, within thirty (30) days after the commencement of any proceeding against Lessee seeking adjudication of bankruptcy or reorganization, rearrangement, composition, readjustment, liquidation, dissolution or similar relief, fails to cause such proceedings to be dismissed; 70.1.5. Lessee, within sixty (60) days after the appointment without ▇▇▇▇▇▇'s consent or acquiescence of any trustee, receiver, or liquidator of Lessee or a material part of its assets, causes such appointment to be vacated. 70.1.6. The making interests of Lessee under this Lease shall not, except at City's option and with its written consent, be assignable by Tenant operation of law. In case of the bankruptcy of Lessee, or the appointment of a receiver for ▇▇▇▇▇▇ and such receiver is not removed within one hundred twenty (120) days from the date of appointment, or if a receiver is appointed to take possession of the Demised Premises as a result of any general act or omission of Lessee and such receiver is not removed within one hundred twenty (120) days from the date of appointment, or if ▇▇▇▇▇▇ makes an assignment of this Lease for the benefit of creditors; the filing by , or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the petition is dismissed within sixty (60) days); the taking of if possession of substantially all the Demised Premises is taken by virtue of Tenant’s assets located at the Premises or of Tenant’s interest in this Agreementany attachment, where possession is not restored to Tenant within thirty (30) days; execution, or the attachmentlevy of any judicial process, execution or other judicial seizure of substantially all of Tenant’s assets located City, at the Premises or of Tenant’s interest in this Agreement where such seizure is not discharged within thirty (30) days; 5. Failure to pay rent or any other sums payable by Tenant under this Lease when due its election, may, after Landlord provides Tenant with written notice of such failure to pay and Tenant fails to cure after five (5) days of receipt of such notice; 6. Any representation or warranty by Tenant was materially false or inaccurate at the time of the execution of ▇▇▇▇▇▇, terminate this Lease.