Defaults and Termination Clause Samples

Defaults and Termination. 7.1 Defaults or Violations If Carrier defaults in the payment of any amount due hereunder, or if ▇▇▇▇ Atlantic fails to provide Services as agreed hereunder, and such default or failure shall continue for thirty (30) days after written notice thereof, the other company may terminate this agreement with seven (7) days written notice.

Defaults and Termination. In case of default, the non-defaulting party shall issue a default notice to the defaulting party. If the default is not fully set right within three months from the date of issue of the default notice, then in case of default by the Seller, the MPPMCL by giving seven days termination notice in writing, may terminate the agreement. In case of default by MPPMCL, the Seller may in the same way terminate the agreement.

Defaults and Termination. 24.1 Termination of Agreement (a) Prior to the date that the Reserved NRAS Allocation becomes an NRAS Allocation, this Agreement is conditional upon the ongoing operation of NAHC’s Reserved NRAS Allocation in respect of the Premises. (b) On and subsequent to the date that the Reserved NRAS Allocation becomes an NRAS Allocation, this Agreement is conditional upon the ongoing operation of the NRAS Allocation in respect of the Premises. (c) In addition to any other right of termination under this Agreement and, unless otherwise expressly provided, without prejudice to any antecedent rights and remedies of any party, if for any reason in the period: (i) prior to the date that the Reserved NRAS Allocation becomes an NRAS Allocation, NAHC’s Reserved NRAS Allocation is transferred from the Premises, revoked, expires or is otherwise determined; or (ii) on and from the date that the Reserved NRAS Allocation becomes an NRAS Allocation, NAHC’s NRAS Allocation is transferred from the Premises, revoked, expires or is otherwise determined; then unless the Parties otherwise agree in writing, either Party may determine this Agreement by written notice to the other party. The date for termination of this Agreement shall be the date NAHC’s Reserved NRAS Allocation or NAHC’s NRAS Allocation (as the case may be) ceases to operate in respect of the Premises. (d) This Agreement is subject to and conditional upon the entrance to and ongoing operation of any funding agreement with State Government under which the State Government component of the Incentive in respect of the Premises is payable. If such State Government funding agreement is not entered into, is transferred from the Premises, is revoked, is surrendered, expires, or is otherwise determined NAHC may in its absolute discretion: (i) determine this Agreement by written notice to the other party; or (ii) by written notice to the Owner, sever or amend such provisions of this Agreement as are applicable in NAHC’s absolute discretion to the State Government component of the Incentive and such provisions will be severed or amended, as the case may be, from the remainder of this Agreement and will be deemed never to have been part of this Agreement and the remainder of this Agreement will continue and remain in full force and effect. (e) The date for termination of this Agreement pursuant to clause 24.1(d)(i) or severance pursuant to clause 24.1(d)(ii) shall be the date the State Government funding agreement ceases to operate...

Defaults and Termination. 22.1 Without prejudice to all of the rights and recourses available to the Sub- landlord, the following shall be considered special defaults (the “Events of Default”) under the terms of this Lease: a) if the Sub-tenant fails to pay the Rent, additional rent or any other amount payable provided herein as and when the same become due; or b) other than the foregoing (a), if the Sub-tenant breaches any of its covenants or obligations under this Lease and does not remedy the breach within ten (10) days after receipt by the Sub-tenant of written notice of default from the Sub- Landlord; or c) if during the Lease Term, any of the goods, or movable effects on Leased Premises are at any time seized or taken in execution or attachment by any creditor of the Sub-tenant pursuant to a judgment rendered against the Sub- tenant or pursuant to this Lease, or if a writ of execution is issued against the goods or property of the Sub-tenant, unless and while the Sub-tenant is diligently contesting such seizure or taking in execution or attachment; or d) if the Sub-tenant makes any assignment for the benefit or becomes bankrupt or insolvent or takes the benefit of or becomes subject to any statutes that may be in force relating to bankrupt or insolvent debtors; or e) if any application or petition or certificate or order is made or granted for the winding-up or dissolution of the Sub-tenant voluntarily or otherwise; or f) if the Leased Premises at any time during the Lease Term becomes vacant by reason of their abandonment by the Sub-tenant or the removal of the Sub- tenant by legal process for non-payment of the Rent, breach of covenant or any other cause; or g) if any insurance policy insuring the Building or the Sub-landlord or Sub-tenants of the Building is cancelled or placed at risk of cancellation by reason of the use and occupancy of the Leased Premises or any part thereof and other insurance policy is not obtainable; or h) if any hypothec, lien or encumbrance is registered against the Leased Premises or the Building by reason of any act or omission of the Sub-tenant, except as otherwise provided for herein; or i) if, subject to Clause 20 hereof, the Leased Premises are used by any other person or for any other purpose than as herein provided without the written consent of the Sub-landlord; or j) if the Sub-tenant or any party acting on behalf of the Sub-tenant repudiates, terminates or attempts to repudiate or terminate the Lease including, without limitation, the re...

Defaults and Termination. 7.1 Valid Grounds for Termination a.) Events of Default

Defaults and Termination. This Agreement may be terminated without further liability on thirty (30) days prior written notice as follows: (i) by either party upon a default of any covenant or term hereof by the other party, which default is not cured within thirty (30) days of receipt of written notice of default, provided that the grace period for any monetary default is ten (10) days from receipt of notice; or (ii) by either party for any reason or for no reason, provided either party delivers written notice of early termination no later than thirty (30) days prior to the parties election to terminate this Agreement; or (iii) by Business Owner if it does not obtain or maintain any license, permit or other approval necessary for the construction and operation of Encroachment. If either party ("demanding party") has a good faith belief that the other party ("defaulting party") is not complying with the terms of this Agreement, the demanding party shall give written notice of the default (with reasonable specificity) to the defaulting party and demand the default to be cured within ten (10) days of the notice. If the defaulting party is actually in default of this Agreement and fails to cure the default within ten (10) days of the notice, or, if more than ten (10) days are reasonably required to cure the default and the defaulting party fails to give adequate assurance of due performance within ten (10) days of the notice, the demanding party may terminate this Agreement upon written notice to the defaulting party. City may also terminate this Agreement upon written notice to Business Owner in the event that: a. Business Owner has previously been notified by City of Business Owner's default under this Agreement and Business Owner, after beginning to cure the default, fails to diligently pursue the cure of the default to completion, or b. Business Owner shall voluntarily file or have involuntarily filed against it any petition under any bankruptcy or insolvency act or law, or c. Business Owner shall be adjudicated a bankruptcy, or d. Business Owner shall make a general assignment for the benefit or creditors. Upon termination, City may immediately enter and take possession of the Right-of-way.

Defaults and Termination. No Target Company has received written notice in the 12 months before the date of this Deed that it is in default of any material obligation under any material contract to which it is a party which would give the counterparty the right to terminate the contract.

Defaults and Termination. Should Tenant breach this Lease Agreement and abandon the Property prior to the natural expiration of the Lease term, City may continue this Lease in effect by not terminating Tenant's right to possession of the Property, in which case City shall be entitled to enforce all City's rights and remedies under this Lease Agreement including the right to recover rent as it becomes due. If Tenant defaults in performance of any covenant, condition, or agreement contained in this Lease Agreement, and the default is not cured within 10 days after written notice by City, then City may terminate this Lease Agreement and bring an action to recover from Tenant the worth at time of award of unpaid rent which had been earned at the time of termination of the Lease Agreement, all amounts necessary to compensate City for all detriment proximately caused by Tenant's failure to perform Tenant's obligations under this Lease Agreement, and such other sums as permitted by law. City may also bring an action, in addition to or in lieu of the foregoing, to reenter and regain possession of the Property in the manner provided by the laws of California. If Tenant becomes insolvent, then City may, by giving 30 days written notice to Tenant, terminate this Lease Agreement and forfeit Tenant's interest in the Property and in any improvements or facilities in, on, or appertaining to the Property. For purposes of this section, Tenant shall be conclusively presumed to have become insolvent if Tenant has a receiver appointed to take possession of all or substantially all of Tenant's property because of insolvency; makes a general assignment for the benefit of creditors; or allows any judgment against Tenant to remain unsatisfied and unbonded for 30 days or longer. Tenant specifically agrees to take all necessary measures during the term of this Lease Agreement to eliminate and ▇▇▇▇▇ any adverse effects of Tenant's operations upon residential and/or other property in the vicinity, including without limitation noise, odor, etc. In the event of City's receipt of complaints from any person regarding Tenant's operations hereunder, Tenant agrees to cooperate fully with City to promptly and effectively remove or satisfactorily reduce the noise or other aspect of Tenant's business operations giving rise to the complaint. If such corrective actions by Tenant fail to resolve the problem within five days and complaints continue to be lodged with City, City may, by giving ten days written notice to Tena...

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