Common use of Events of Default by Landlord Clause in Contracts

Events of Default by Landlord. It shall be an “Landlord Event of Default” under this Lease, if Landlord fails to perform its obligations hereunder for more than thirty (30) days after notice thereof from Tenant, together with such additional time, if any, as is reasonably required to cure the default if the default is of such a nature that it cannot reasonably be cured in thirty (30) days. In the event of a Landlord Event of Default, without limitation to any other rights Tenant may have at law and equity (each of which rights Tenant expressly reserves), which default shall remain uncured after the expiration of any applicable notice and cure periods and Tenant does not have notice that Landlord is disputing such obligation in good faith, Tenant shall have the right, but shall not the obligation, to perform such obligation. Notwithstanding any language to the contrary set forth in this Section, in no event shall Tenant have any right to perform any obligations that are outside of the Premises, that affect any space not leased by Tenant, that affect any Common Area of the Building, the Lot or the Park, that affect the structure of the Building, or that affect any of the life safety or building systems of the Building. In performing such obligation, Tenant may make any payment of money or perform any other act. All sums so paid by Tenant, together with interest at the rate of twelve percent (12%) per annum, and all necessary incidental costs and expenses, provided such are reasonable, in connection with the performance of any such acts by Tenant, shall be payable by Landlord to Tenant within twenty (20) days of demand (containing all reasonable documentation evidencing such performance and payment by Tenant). Tenant may exercise the foregoing rights without waiving any other of its rights or releasing Landlord from any of its obligations under this Lease.

Events of Default by Landlord. It A. The following shall be deemed Events of Default by Landlord under the terms of this Lease: 1. Failure to comply with any material term, provision, or covenant of this Lease obligating Landlord, including without limitation Landlord's obligations under Sections 6 and 9, within any applicable cure periods; and 2. Failure of Landlord to comply with applicable laws, ordinances, or similar governmental regulations applicable to the Building whereby such failure adversely affects Tenant and/or Tenant's business operations at the Premises. B. Upon an Event of Default by Landlord, Tenant's exclusive remedy shall be an “action for damages (Tenant hereby waiving the benefit of any laws granting it a lien upon the property of Landlord Event and/or upon rent due Landlord). Prior to any such action, Tenant shall give Landlord written notice specifying such default with particularity, and Landlord shall, upon receipt of Default” under this Leasesaid notice, if Landlord fails to perform its obligations hereunder for more than have thirty (30) days after notice thereof from Tenant, together with such additional time, if any, as is reasonably required in which to cure the any such default. Unless and until Landlord fails to so cure any default if the default is of after such a nature that it cannot reasonably be cured in thirty (30) days. In the event of a Landlord Event of Default, without limitation to any other rights Tenant may have at law and equity (each of which rights Tenant expressly reserves), which default shall remain uncured after the expiration of any applicable notice and cure periods and Tenant does not have notice that Landlord is disputing such obligation in good faithnotice, Tenant shall not have any remedy or cause of action by reason thereof. All obligations of Landlord hereunder will be construed as covenants, not conditions; and all such obligations will be binding upon Landlord only during the right, but period of Tenant's possession of the Premises and not thereafter. Tenant acknowledges and agrees that all liability of Landlord under this Lease or arising out of the relationship of the parties created thereby shall not the obligation, to perform such obligation. Notwithstanding any language be limited to the contrary set forth insurance coverage described in this Section, paragraph and Landlord's interest in no event the Building and Property and any judgments rendered against Landlord shall Tenant have any right to perform any obligations that are outside be satisfied solely out of the Premises, that affect any space not leased insurance proceeds and the proceeds of sale of its interest in the Building and Property as received by Tenant, that affect any Common Area of the Building, the Lot or the Park, that affect the structure of the Building, or that affect any of the life safety or building systems of the BuildingLandlord. In performing such obligation, Tenant may make any payment of money or perform any other act. All sums so paid by Tenant, together with interest at the rate of twelve percent (12%) per annum, and all necessary incidental costs and expenses, provided such are reasonable, in connection with the performance of any such acts by Tenant, No personal judgment shall be payable by lie against Landlord to Tenant within twenty (20) days of demand (containing all reasonable documentation evidencing such performance and payment by Tenant). Tenant may exercise the foregoing rights without waiving any other upon extinguishment of its rights in the Building and Property, and any judgment so rendered shall not give rise to any right of execution or releasing levy against Landlord's assets. The provisions hereof shall inure to Landlord's successors and assigns. C. Notwithstanding the foregoing, Landlord from shall maintain at least $2,000,000.00 in general liability insurance coverage to compensate Tenant, and any subtenant, concessionaire, or licensee of its obligations Tenant, or their respective employees, agents, contractors, or invitees, for damages for which Landlord is liable. The general liability insurance required to be maintained by Landlord shall be written with a company or companies reasonably satisfactory to Tenant, having a policyholder rating of at least "A-" as rated in the most recent edition of "Best's Key Rating Guide" for insurance companies, and authorized to engage in the business of insurance in the State of Ohio. Landlord shall deliver to Tenant customary insurance certificates evidencing such paid-up insurance. Such insurance shall further provide that the same may not be canceled, terminated, or materially modified unless the insurer gives Tenant at least 30 days' prior written notice thereof. If Landlord fails to obtain and maintain such insurance coverage during the Term, the provisions under this Leaseparagraph limiting Tenant's remedies and rights of recovery shall be void.

Events of Default by Landlord. It The following conditions and events shall be an “Landlord Event constitute "Events of Default” under " by Landlord for purpose of this Lease, if : (i) Landlord fails to keep, perform and observe each and every promise, covenant, warranty and condition set forth in this Lease on its obligations hereunder part to be kept, performed or observed for more than sixty (60) days after receipt of written notice of such failure from Tenant, except where fulfillment of such obligation requires activity over a period of time and Landlord has commenced to perform whatever may be required within thirty (30) days after receipt of such written notice thereof from TenantTenant and continues such performance without interruption, together with such additional timeexcept for causes beyond its control. Notwithstanding the foregoing, if anyLandlord, as is reasonably required to cure within forty-five (45) days after the default if the default is receipt of such a nature that it canwritten notice of default, shall in good faith dispute the existence of any such default by both written notice to Tenant and shall also in good faith institute appropriate legal proceedings in the Court, and request declaratory relief or another appropriate remedy for the resolution of such dispute, then, so long as such proceedings have not reasonably be cured in thirty (30) days. In been finally determined and Landlord is diligently prosecuting same, Tenant shall not have the event of a Landlord Event of Default, without limitation right to terminate this Lease or exercise any other rights remedy of Tenant may have at law and equity (each hereunder on account of which rights Tenant expressly reserves)the alleged default; provided, which default however, that the foregoing provisions of this Subsection 12.D(i) shall remain uncured after not be construed to preclude a Court of competent jurisdiction from entering temporary orders or otherwise exercising its equitable powers to protect the expiration interests of any applicable notice and cure periods and Tenant does not have notice the parties during the pendency of the above described proceedings. If it shall be finally determined in such proceedings that Landlord is disputing in default, then the time within which Landlord shall have to remedy the same as set forth above shall be computed from the date of such obligation determination but Landlord shall have no further right under this Subsection 12.D(i) to dispute such default. No such dispute by Landlord or the filing or prosecution of any such proceedings shall operate to relieve Landlord from or permit Landlord to defer the performance of any of its obligations hereunder not specifically under dispute, and Landlord shall not be relieved of any liability to Tenant for actual damages (including any consequential damages to the extent Tenant promptly notifies Landlord of the same as soon as Tenant could reasonably be expected to be aware that such damages may occur) suffered by Tenant if Landlord contests the existence of the Event of Default by appropriate proceedings as provided above but fails to prevail in such proceedings. If the Court in which such proceedings have been instituted determines that such proceedings have not been brought by Landlord in good faith, such court shall make an award of damages there for, including attorney's fees, costs, and all expenses. Notwithstanding any other provision contained in this Lease, if the nature of Landlord's default is such that the failure to immediately cure same would result in Tenant being unable to utilize the Property for the operation of the Amphitheater and related facilities, then Tenant shall have the right, but shall not the obligationat Tenant's option and with prior notice to Landlord, to perform immediately cure said default on Landlord's behalf, and Landlord shall reimburse to Tenant any expenses reasonably incurred by Tenant after Landlord's default within fifteen (15) days after Landlord's receipt of a statement from Tenant setting forth such obligation. Notwithstanding expenses. (ii) The levy of any language to attachment or execution, or the contrary appointment of any receiver, or the execution of any other process of any court of competent jurisdiction which is not vacated, dismissed, or set forth in this Section, in no event shall Tenant have any right aside within a period of sixty (60) days from its inception and which interferes or may interfere with Landlord's ability to perform any obligations that are outside of the Premises, that affect any space not leased by Tenant, that affect any Common Area of the Building, the Lot or the Park, that affect the structure of the Building, or that affect any of the life safety or building systems of the Building. In performing such obligation, Tenant may make any payment of money or perform any other act. All sums so paid by Tenant, together with interest at the rate of twelve percent (12%) per annum, and all necessary incidental costs and expenses, provided such are reasonable, in connection with the performance of any such acts by Tenant, shall be payable by Landlord to Tenant within twenty (20) days of demand (containing all reasonable documentation evidencing such performance and payment by Tenant). Tenant may exercise the foregoing rights without waiving any other of its rights or releasing Landlord from any of its obligations under this Lease. (iii) Landlord becomes insolvent, or takes the benefit of any present or future insolvency statute, or makes a general assignment for the benefit of creditors, or files a voluntary petition in bankruptcy, or a petition or answer seeking an arrangement for reorganization or for the readjustment of indebtedness under the federal bankruptcy laws or under any other law or statute of the United States, or of any state law, or consents to the appointment of a receiver, trustee or liquidator for all or substantially all of its property. (iv) By order or decree of Court, Landlord is adjudged bankrupt, or an order is made approving a petition filed by any of the creditors or stockholders of Landlord seeking the reorganization or the readjustment of its indebtedness under the federal bankruptcy laws, or under any law or statute of the United States, or any state thereof. (v) A petition under any part of the federal bankruptcy laws or an action under any present or future insolvency law or statute is filed against Landlord and is not dismissed within one hundred twenty (120) days from the date of filing. (vi) By, pursuant to, or under authority of (a) any legislative act, resolution or rule, or (b) any order or decree of any court, governmental board, agency or officer having jurisdiction, a receiver, trustee or liquidator takes possession or control of all or substantially all of the property of Landlord, and such possession or control continues in effect for a period of sixty (60) days from the date of such possession or control. (vii) Landlord fails to timely pay all state corporate and federal income taxes, and any and all other taxes, assessments, or impositions of any kind whatsoever, assessed or imposed against, and becoming due and payable by Landlord to any federal, state or local governmental entity or agency or division thereof, to the extent that such obligation constitutes a lien on any or all of the Property.

Events of Default by Landlord. It shall be an “Landlord Event of Default” under this Lease, if Landlord fails to perform its obligations hereunder for more than thirty (30) days after notice thereof from Tenant, together with such additional time, if any, as is reasonably required to cure the default if the default is of such a nature that it cannot reasonably be cured in thirty (30) days. In the event of a Landlord Event of Default, without limitation to any other rights Tenant may have at law and equity (each of which rights Tenant expressly reserves), which default shall remain uncured after the expiration of any applicable notice and cure periods and Tenant does not have notice that Landlord is disputing such obligation in good faith, Tenant shall have the right, but shall not the obligation, to perform such obligation. Notwithstanding any language to the contrary set forth in this Section, in no event shall Tenant have any right to perform any obligations that are outside of the Premises, that affect any space not leased by Tenant, that affect any Common Area of the Building, the Lot or the Park, that affect the structure of the Building, or that affect any of the life safety or building systems of the BuildingBuilding (except as set forth in Section 6.1.2 to the contrary). In performing such obligation, Tenant may make any payment of money or perform any other act. All sums so paid by Tenant, together with interest at the rate of twelve percent (12%) per annum, and all necessary incidental costs and expenses, provided such are reasonable, in connection with the performance of any such acts by Tenant, shall be payable by Landlord to Tenant within twenty (20) days of demand (containing all reasonable documentation evidencing such performance and payment by Tenant)demand. Tenant may exercise the foregoing rights without waiving any other of its rights or releasing Landlord from any of its obligations under this Lease.