Events of Default by Lessee Clause Samples
Events of Default by Lessee. The occurrence of any of the following shall constitute a material default and breach of this Lease by Lessee.
(1) Any failure by Lessee to pay Rent or make any other payment required to be made by Lessee hereunder, where such failure continues for thirty (30) days after receipt of written notice from the Lessor, subject to the right of Lessee, reasonably exercised, to contest any such payment. In the event Lessee withholds any such payment, and it is determined that such withholding was wrongful, Lessee shall pay interest to Lessor on such monies wrongfully withheld at the rate of 15% per annum or the maximum amount allowed by law, whichever is less.
(2) A failure by Lessee to observe and perform any other material provision or covenant of this Lease to be observed or performed by the Lessee, where such failure continues for thirty (30) days after written notice thereof by Lessor to Lessee, except that this thirty (30) day period shall be extended for a reasonable period of time if the alleged default is not reasonably capable of cure within said thirty (30) day period and Lessee proceeds to diligently cure the default.
(3) Any failure of Lessee's representatives or warranties to remain true and correct throughout the Lease Term; provided that no event of default shall occur is such Pipeline Lease Agreement representation of warranty is again true and correct within thirty (30) days after receipt of written notice from Lessor.
(4) The making by Lessee of any general assignment for the benefit of creditors, the filing by or against Lessee of a petition to have Lessee adjudged a bankrupt, or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days), the appointment of a trustee or receiver to take possession that is not restored to Lessee within thirty (30) days.
Events of Default by Lessee. Any of the following events which shall occur shall constitute an Event of Default by the Lessee under this Agreement:
a. Subject to the provisions of Section 4.8 hereof, the nonpayment by the Lessee of any payment required hereunder, or failure of the Lessee to perform any of the obligations, covenants, terms and provisions contained or referred to in this Agreement, which nonpayment or failure to perform is not cured within fifteen
Events of Default by Lessee. Each of the following events shall be deemed to be an Event of Default by Lessee under this Lease:
1. Failure of Lessee to do such things as Lessee should do or discontinue doing which create a danger to or hinder aviation activities immediately upon delivery of written notice thereof to Lessee.
2. Failure of Lessee to pay any Lease Payment or any other sum payable to Lessor hereunder within 10 days of the date that it is due.
3. Failure of Lessee to comply with a term, condition or covenant of this Lease other than the Lease Payment or other sum of money, within 30 days after delivery of written notice thereof to Lessee.
4. Insolvency, the making of a transfer in fraud of creditors, or the making of an assignment for the benefit of creditors by Lessee or any guarantor of Lessee’s obligations.
5. Filing of a petition under any section or chapter of the United States Bankruptcy Code, as amended or under any similar law or statute of the United States or any State thereof by Lessee or any guarantor of Lessee’s obligations, or adjudication as a bankrupt or insolvent in proceedings filed against Lessee or such guarantor.
6. Appointment of a receiver or trustee for all or substantially all of the assets of Lessee or any guarantor of Lessee’s obligations.
7. Abandonment by Lessee of any substantial portion of the Leased Premises or cessation of use of the Leased premises for the purposes leased. The Leased Premises will be considered abandoned if there has been no activity by the Lessee on the Leased Premises for 180 consecutive days and Lessee has failed to make any due payments during the 180 days in which there has been no activity by the Lessee on the Leased Premises.
Events of Default by Lessee. The occurrence of any of the following events shall constitute an “Event of Default” on the part of Lessee without notice from Lessor unless otherwise provided:
Events of Default by Lessee. The occurrence of any of the following shall constitute a material default and breach of this Lease by Lessee:
Events of Default by Lessee. If Lessee fails to observe or perform any term, covenant or condition of this Agreement or the Franchise Agreement (including without limitation the obligation to provide funds required for the operation and maintenance of the Hotel) and such failure is not cured by Lessee within a period of thirty (30) days after receipt by Lessee of notice thereof from Manager, unless such failure cannot with due diligence be cured within a period of thirty (30) days, in which case it shall not be deemed a “Lessee Default” if Lessee proceeds promptly and with due diligence to cure the failure and diligently completes the curing thereof, then Manager may exercise one or more remedies available to it herein or at law or in equity, including, but not limited to its right to terminate this Agreement. Notwithstanding the forgoing, Lessee shall be afforded no more than five (5) business days from the date of any notice from Manager to replenish Working Capital in the Hotel Accounts, and Lessee’s failure to do so shall be Lessee Default without a cure period past or beyond said five (5) day period.
Events of Default by Lessee. The following shall each constitute an Event of Default by Lessee.
a. Lessee fails to make any material payment due under the Lease within thirty (30) days after such payment is due unless such payment is contested, and payment of such uncontested amount is not made within thirty (30) days of Lessor’s written notice to Lessee of such failure.
b. Lessee breaches or fails to perform or comply with any material covenant or agreement set forth in this Lease and such failure continues for a period of thirty (30) days after written notice thereof from Lessor to Lessee; provided that if Lessee proceeds with due diligence during such thirty (30) day period to cure such breach and is unable by reason of the nature of the work involved using commercially reasonable efforts to cure the same within the said thirty
Events of Default by Lessee. The following events shall be deemed to be events of default by Lessee under this lease:
(a) Lessee fails to pay any installment of the rent hereby reserved when due, or any other payment or reimbursement of Lessor required herein, and such failure continues for a period of 30 days after Lessor notifies Lessee in writing of such failure.
(b) Lessee becomes insolvent, or makes a transfer in fraud of creditors, or makes an assignment for the benefit of creditors.
(c) Lessee files a petition, voluntary or involuntary, under any section or chapter of the National Bankruptcy Act, as amended, or under any similar law or statute of the United States or any State thereof, or is adjudged bankrupt or insolvent in proceedings filed against Lessee thereunder.
(d) A receiver or trustee is appointed for all or substantially all of the assets of Lessee.
(e) Lessee abandons the Leased Premises.
(f) Lessee fails to comply with any other provisions or covenant of this lease and does not cure such failure within 60 days after Lessor’s written notice thereof to Lessee. In the event of a default which cannot with due diligence be cured within 60 days, Lessee shall proceed promptly and with all due diligence to cure the same and that the time allowed Lessee within which to cure said default shall be extended for such period as may be reasonably necessary.
Events of Default by Lessee. LESSEE will be considered in default under this Agreement if it:
4.1.1 will be in default under any provisions of this Agreement and such default continues for a period of ninety (90) days after notice thereof by LESSOR; or
4.1.2 applies for or consents to the appointment of a receiver, trustee or liquidator of all or a substantial part of its assets, admits in writing its inability to pay its debts generally as they become due, makes a general assignment for the benefit of creditors, seeks an arrangement with creditors or takes advantage of any insolvency proceeding, or if any order, judgment or decree is entered by any court of competent jurisdiction on the application of a creditor declaring the defaulting party insolvent or approving a petition for liquidation or seeking reorganization of the defaulting party of all or a substantial part of its assets and such order, judgment or decree continues unsatisfied and in effect for a period of sixty (60) consecutive days after the date of such order, judgment or decree.
Events of Default by Lessee. Each of the following shall be deemed to constitute a default by Lessee:
15.1 Failure to pay rent on or before the date due as provided for herein;
15.2 Failure to pay any additional rent, costs, or expenses when due as provided for herein;
15.3 Failure to observe or perform any other provision of Lease for ten (10) days after Lessor has given written notice to Lessee of the nature of Lessee’s failure;
15.4 Lessee abandons, quits, or vacates Premises;
15.5 Lessee files a petition in bankruptcy or for an arrangement under any present or future federal or state bankruptcy law, is adjudicated bankrupt or insolvent, makes an assignment for the benefit of creditors, or admits in writing its inability to pay debts when they become due;
15.6 The appointment of a receiver or trustee for Lessee or its assets if such receivership has not been vacated or set aside within thirty (30) days from the date of such appointment;
15.7 Any activity of Lessee which causes the cancellation of insurance coverage on Premises;
15.8 The dissolution or termination of Lessee’s corporate charter; or
15.9 The interest of Lessee under Lease is ordered sold under execution or the legal process.