DEFAULT OR ABANDONMENT Clause Samples

The "Default or Abandonment" clause defines the consequences and procedures that apply if one party fails to fulfill their contractual obligations or abandons the project or agreement. Typically, this clause outlines what constitutes a default or abandonment, the notice requirements, and the remedies available to the non-breaching party, such as the right to terminate the contract, claim damages, or take over the work. Its core function is to protect parties from the risks associated with non-performance or desertion by providing a clear framework for addressing such situations and ensuring continuity or compensation.
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DEFAULT OR ABANDONMENT. Should the Lessee fail to pay the rent or any other charges arising under this lease promptly as stipulated, should the premises be abandoned (it being agreed that an absence of Lessee from the leased premises for five consecutive days after rents have become delinquent shall create a conclusive presumption of abandonment) by Lessee or should Lessee begin to remove furniture or any substantial portion of Lessee’s personal property to the detriment of Lessor’s lien, or should voluntary or involuntary bankruptcy proceedings be commended by or against ▇▇▇▇▇▇, or should Lessee make an assignment for the benefit of creditors, then in any of said events, Lessee shall be ipso facto in default and the rent for the whole of the unexpired term of the lease together with the attorneys fees shall immediately become due. However, ▇▇▇▇▇▇ may proceed one or more times for past due installments without prejudicing her rights to proceed later for the rent for the remaining term of the lease. Similarly, in the event of any such default, Lessor retains the option to cancel the lease and obtain possession of the premises by giving ▇▇▇▇▇▇ written notice to vacate the premises in accordance with the provisions of Articles 4701-4705 of the Louisiana Code of Civil Procedure. In the event of such cancellation and eviction, Lessee is obligated to pay any and all rent due and owing through the last day said premises are occupied. Lessee is obligated to pay any eviction costs.
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DEFAULT OR ABANDONMENT. If Lessee fails to pay promptly the rent or any other charges arising under this lease, whether to Lessor or others, or if Lessee abandons the premises (it being agreed that an absence of Lessee from the premises for five (5) consecutive days after the rent or other payment has become delinquent shall create a conclusive presumption of abandonment) or if Lessee begins to remove furniture or furnishings or any substantial portion of Lessee’s property to the detriment of Lessor’s lien, or if assignment for the benefit of creditors, then Lessee shall be ipso facto in default and, at Lessor’s option, the rent for the entire unexpired term of the lease together with attorney’s fees and all other costs shall immediately become due. As an alternative Lessor may proceed one or more times to collect past due installments without prejudicing his right to proceed later for the rent of the remaining term of the lease. As a further alternative, Lessor may cancel the lease and obtain possession of the premises by giving Lessee written notice to vacate the premises. In all such events, Lessee is herby relieved of putting Lessee in default or giving any notice other than specifically provided herein.
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DEFAULT OR ABANDONMENT. Should the Lessee fail to pay the rent or any other charges arising under this lease promptly as stipulated, should the premises by abandoned (it being agreed of Lessee from the leased premises for 5 consecutive days after rentals have become delinquent shall create a conclusive presumption of abandonment) by Lessee or should Lessee begin to remove furniture or any substantial portion of Lessee’s personal property to the detriment of Lessor’s lien, or should voluntary or involuntary bankruptcy proceedings be commenced by or against Lessee, or should Lessee make an assignment for the benefit of creditors, then in any of said events, Lessee shall be ipso facto in default and the rent for the whole of the unexpired terms of the lease together with the attorneys fees shall immediately become due. However, Lessor may proceed one or more times for past due installments without prejudicing his rights to proceed later for the rent for the remaining term of the lease. Similarly, in the event of any such default, Lessor retains the option to cancel the lease and obtain possession of the premises by giving Lessee written notice to vacate the premises. In the event of such cancellation and eviction, Lessee is obligated to pay any and all rent due and owing through the last day said premises are occupied. Lessee is obligated to pay any eviction costs.
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DEFAULT OR ABANDONMENT. Should the Tenant fail to pay the rent or any other charges arising under this lease promptly as stipulated, or should voluntary or involuntary bankruptcy proceedings be commenced by or against Tenant, or should Tenant breach any other covenant of this lease, Tenant shall be, at option of Lessor, in default, without the necessity of demand or putting in default. In the event of default thereunder, Lessor may elect any remedy allowed under Louisiana law including, but not limited to, declaring the rent for the whole un-expired term of the lease together with the attorney’s fees immediately due and payable, or proceed one or more times for the past due installments without prejudicing his right to proceed later for the remaining term of the lease, or to cancel the lease and obtain possession of the premises.
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DEFAULT OR ABANDONMENT. Subject to force majeure, in the event of abandonment of the project, the Lender shall be entitled to but not required to, after giving the Borrower fifteen (15) days notice of any abandonment and provided the Borrower fails to forthwith rectify the same, or the Lender may decline to advance further funds and to declare any monies advanced with interest and costs to become forthwith due and payable.
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DEFAULT OR ABANDONMENT. Should the Lessee fail to pay the rent or any other charges arising under this lease promptly as stipulated, should the premises be abandoned (it being agreed that an absence of Lessee from the leased premises for five consecutive days after rents have become delinquent shall create a conclusive presumption of abandonment) by Lessee or should Lessee begin to remove furniture or any substantial portion of Lessee’s personal property to the detriment of Lessor’s lien, or should voluntary or involuntary bankruptcy proceedings be commended by or against Lessee, or should Lessee make an assignment for the benefit of creditors, then in any of said events, Lessee shall be ipso facto in default and the rent for the whole of the unexpired term of the lease together with the attorneys fees shall immediately become due. However, Lessor may proceed one or more times for past due installments without prejudicing her rights to proceed later for the rent for the remaining term of the lease. Similarly, in the event of any such default, Lessor retains the option to cancel the lease and obtain possession of the premises by giving Lessee written notice to vacate the premises in accordance with the provisions of Articles 4701-4705 of the Louisiana Code of Civil Procedure. In the event of such cancellation and eviction, Lessee is obligated to pay any and all rent due and owing through the last day said premises are occupied. Lessee is obligated to pay any eviction costs.
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Related to DEFAULT OR ABANDONMENT

  • Default or Event of Default Seller shall notify Buyer of the occurrence of any Default or Event of Default with respect to Seller as soon as possible but in no event later than two (2) Business Days after obtaining Knowledge of such event.

  • No Default or Event of Default No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date unless such Default or Event of Default shall have been waived in accordance with this Agreement.

  • Default of Tenant Each of the following shall constitute a default by Tenant under this Lease: (a) Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.

  • No Default or Event of Default has occurred and is continuing as of the date hereof or after giving effect to the Loans to be made on the date hereof. [Borrower only]

  • No Default or Violation Neither the Company nor any Subsidiary (i) is in default under or in violation of (and no event has occurred which has not been waived which, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound, (ii) is in violation of any order of any court, arbitrator or governmental body, or (iii) is in violation of any statute, rule or regulation of any governmental authority, in each case of clauses (i), (ii) or (iii) above, except as could not individually or in the aggregate, have or result in a Material Adverse Effect.