Events of Lessee Default Clause Samples

The 'Events of Lessee Default' clause defines the specific actions or omissions by the lessee that constitute a default under the lease agreement. Typically, this includes failures such as not paying rent on time, breaching material terms of the lease, or becoming insolvent. When any of these events occur, the lessor is usually granted certain rights, such as terminating the lease or seeking damages. The core function of this clause is to clearly outline what constitutes a default, thereby protecting the lessor’s interests and providing a structured process for addressing breaches by the lessee.
Events of Lessee Default. Any of the following events shall constitute a “Lessee Default”: (a) StadCo or the Bills breaches any of the Franchise Maintenance Covenants or StadCo fails to enter into the Use Agreement; (b) StadCo defaults in the due and punctual payment of Rent, and such default continues for ten (10) days after written notice from ECSC; (c) StadCo breaches any of the other agreements, terms, covenants or conditions set forth in this Stadium Lease that StadCo is required to perform or observe, and such breach continues for a period of ninety (90) days after written notice from ECSC or the County to StadCo; (d) StadCo breaches any of the agreements, terms, covenants or conditions set forth in any Stadium Agreement that StadCo is required to perform or observe pursuant to the terms thereof and said breach continues beyond the greater of (a) any applicable notice and cure period provided for in such agreement and (b) ninety (90) days after written notice from ECSC or the County to StadCo; (e) This Stadium Lease or the Stadium Complex or any part of the Stadium Complex is taken upon execution or by other process of law directed against StadCo, or are taken upon or subject to any attachment by any creditor of StadCo or claimant against StadCo, and said attachment is not discharged or disposed of within ninety (90) days after its levy; (f) StadCo or Guarantor files a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy laws of the United States or under any insolvency act of any state, or admit the material allegations of any such petition by answer or otherwise, or are dissolved or make an assignment for the benefit of creditors; or (g) Involuntary Proceedings under any such bankruptcy law or insolvency act or for the dissolution of StadCo or Guarantor are instituted against StadCo or Guarantor, as applicable, or a receiver or trustee is appointed for any material portion of the property of StadCo or Guarantor, and such Proceeding is not dismissed or such receivership or trusteeship vacated within ninety (90) days after such institution or appointment.
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Events of Lessee Default. The occurrence of any one or more of the following events constitutes an “Event of Lessee Default” under the applicable SA(s)or CA(s) if: (i) Lessee fails to pay any Fee or any other amount due under any SA or CA within 30 days after Lessee’s receipt of written notice of the delinquent payment(s); (ii) Lessee fails to perform or observe any other term of the applicable or CA and the failure continues beyond the period of time specified elsewhere in this Agreement or the or CA for cure following Lessee’s receipt of written notice from Lessor or, if no period of time is specified for cure elsewhere in this Agreement or the SA or CA, if the failure continues for more than 30 days after Lessee’s receipt of written notice from Lessor; except the 30-day cure period will be extended as reasonably necessary to permit Lessee to complete cure so long as Lessee commences cure within the 30-day cure period and continuously and diligently pursues and completes the cure; (iii) any petition is filed by or against Lessee, under any section or chapter of the present or any future federal Bankruptcy Code or under any similar law or statute of the United States or any state (and with respect to any petition filed against Lessee, the petition is not dismissed within 180 days after its filing) or Lessee is adjudged bankrupt or insolvent in proceedings filed under any section or chapter of the present or any future federal Bankruptcy Code or under any similar law or statute of the United States or any state; (iv) a receiver, custodian or trustee is appointed for Lessee or for any of the assets of Lessee and the appointment is not vacated within 90 days of the date of the appointment; or (v) Lessee becomes insolvent or makes a transfer in fraud of creditors. Notwithstanding the foregoing, Lessee will not be in default so long as the United States Bankruptcy Court has not lifted the automatic stay under the Bankruptcy Code and Lessee remains in compliance with any applicable order of the United States Bankruptcy Court having jurisdiction thereover.
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Events of Lessee Default. The happening of any one of the following events (each, an “Event of Default”) shall be considered a material breach and default by Lessee under this Lease:
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Events of Lessee Default. Each of the following shall be deemed an event of default by Lessee and a material breach of this Lease:‌ Failure to Pay Rent or Impositions. Failure by Lessee to pay any installment of Rent or to pay Impositions (to the extent Lessee is obligated to pay same), insurance premiums or other sums of money herein stipulated to be paid by Lessee if such failure shall continue for a period of thirty (30) days after the due date.‌
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Events of Lessee Default. Lessee will be in default under a Lease upon the happening of any one or more of the following events: (a) Lessee fails to make any rent payment or other payment (including, without limitation, insurance premiums, taxes, utilities, fines, and fees) when due; or (b) Lessee fails to satisfy promptly any representation, covenant, warranty, or other obligation under the Lease; or (c) Lessee comes within the jurisdiction of any court as debtor under any bankruptcy, reorganization, or similar law, whether or not such law is in existence on the date such Lease commences.
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Events of Lessee Default. Each and all of the following events shall be deemed an immediate "Event of Default" by TTPU under this Lease, except as may be otherwise indicated hereunder: (a) Nonpayment. TTPU's failure to pay Rent within ten (10) business days after Lessor provides TTPU with notice of such failure to pay.
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Events of Lessee Default. Any of the following events shall constitute a “Lessee Default”: (a) The ECSC defaults in the due and punctual payment of any rent or other financial obligations due pursuant to this 2013 Master Lease, and such default continues for fifteen (15) days after written notice from the County; (b) The ECSC breaches any of the other agreements, terms, covenants, or conditions set forth in any of the Stadium Agreements that the ECSC is required to perform or observe, and such breach continues for a period of thirty (30) days after written notice from the County to the ECSC or, if such breach cannot be cured reasonably within such thirty (30) day period, if the ECSC fails to diligently commence to cure such breach within thirty (30) days after written notice from the County and to diligently complete such cure thereafter; (c) This 2013 Master Lease or the Stadium Complex or any substantial part of the Stadium Complex is taken upon execution or by other process of law directed against the ECSC, or is taken upon or subject to any attachment by any creditor of the ECSC or claimant against the ECSC, and said attachment is not discharged or disposed of within ninety (90) days after its levy; (d) The ECSC files a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy laws of the United States or under any insolvency act of any state, or admits the material allegations of any such petition by answer or otherwise, or is dissolved or makes an assignment for the benefit of creditors; or (e) Involuntary proceedings under any such bankruptcy law or insolvency act or for the dissolution of the ECSC are instituted against the ECSC, or a receiver or trustee is appointed for all or any material portion of the property of the ECSC, and such proceeding is not dismissed or such receivership or trusteeship vacated within ninety (90) days after such institution or appointment.
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Events of Lessee Default. The occurrence of any one or more of the following events constitutes an “Event of Lessee Default” under the applicable SA(s)or CA(s) if: (i) Lessee fails to pay any Fee or any other amount due under any SA or CA within 30 days after Lessee’s receipt of written notice of the delinquent payment(s); (ii) Lessee fails to perform or observe any other term of the applicable or CA and the failure continues beyond the period of time specified elsewhere in this Agreement or the or CA for cure following Lessee’s receipt of written notice from Lessor or, if no period of time is specified for cure elsewhere in this Agreement or the SA or CA, if the failure continues for more than 30 days after Lessee’s receipt of written notice from Lessor; except the 30-day cure period will be extended as reasonably necessary to permit Lessee to complete cure so long as Lessee commences cure within the 30-day cure period and continuously and diligently pursues and completes the cure; (iii)
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Related to Events of Lessee Default

  • Lease Events of Default The following events shall constitute Lease Events of Default hereunder (whether any such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body) and each such Lease Event of Default shall be deemed to exist and continue so long as, but only as long as, it shall not have been remedied: (a) Lessee shall fail to (i) make or (ii) be deemed by virtue of the last sentence of Section 3.5 hereof to have made any payment of Basic Rent, Early Purchase Price, any other purchase price to be paid by Lessee for any Units pursuant to this Lease or the Participation Agreement, Stipulated Loss Amount or Termination Amount (x) in the case of any such payment that is required to be made on the Basic Term Expiration Date or on any date within 30 days before the Basic Term Expiration Date, when due, and (y) in the case of any other such payment, within 10 Business Days after the same shall have become due; provided, however, that so long as any Equipment Notes remain outstanding, failure to make (or be deemed to have made) any portion of Basic Rent on any Rent Payment Date shall not be a Lease Event of Default so long as the amounts applied under Section 3.4, clause (4), of the Collateral Agency Agreement are sufficient to make the distributions required under such clause (4) with respect to the obligations owed under this Lease; provided, further, that in the event that the Special Equity Buy-Out has been consummated, failure to make any payment of Basic Rent, Early Purchase Price, any other purchase price to be paid by Lessee for any Units pursuant to this Lease or the Participation Agreement, Stipulated Loss Amount or Termination Amount (to the extent such amount constitutes an Accumulated Equity Deficiency Amount to be applied under Section 3.4, clause 9 of the Collateral Agency Agreement) shall, after receipt by Lessee of written notice of such failure from Lessor or Owner Participant, be a Lease Event of Default; or (b) Lessee shall fail to (i) make or (ii) be deemed by virtue of payments made by the Collateral Agent to have made any payment of Supplemental Rent, including indemnity or tax indemnity payments, but not including Stipulated Loss Amount, Termination Amount, Early Purchase Price, or any other purchase price to be paid by Lessee for any Units pursuant to this Lease or the Participation Agreement (x) in the case of any such payment that is required to be on the Basic Term Expiration Date or on any date within 30 days before the Basic Term Expiration Date, when due, and (y) in the case of any other such payment, after the same shall have become due and such failure shall continue unremedied for 30 days after receipt by Lessee of written notice of such failure from Lessor, Policy Provider, Owner Participant or the Indenture Trustee; provided, however, that so long as any Equipment Notes remain outstanding, failure to make (or be deemed to have made) payment of any of the amounts referred to in or to be applied pursuant to clauses (5) through (15) of Section 3.4 of the Collateral Agency Agreement shall not be a Lease Event of Default; or (c) Lessee shall fail to maintain in effect the insurance required by Section 12 or Section 6.4 of the Collateral Agency Agreement and such failure shall not have been waived as provided for therein; or (d) Lessee shall use or permit the use of the Units or the Pledged Units or any portion thereof in a way which is not permitted by this Lease (with respect to the Units) or the Collateral Agency Agreement (with respect to the Pledged Units), provided that such unauthorized use shall not constitute a Lease Event of Default for a period of 45 days after Lessee's obtaining actual knowledge thereof so long as (i) such unauthorized use is not the result of any willful action of Lessee and (ii) such unauthorized use is capable of being cured and Lessee diligently pursues such cure throughout such 45-day period; or Lessee shall make or permit any unauthorized assignment or transfer of this Lease in violation of Section 18.2; or (e) TILC (or any successor thereto in its capacity as Administrator or Servicer, as applicable) shall have defaulted in any material respect in the performance of any of its obligations under the Administrative Services Agreement or the Servicing Agreement or a default shall occur under Section 6(a) of the Account Administration Agreement, and, in each case, Lessee shall have failed to exercise its rights thereunder in respect of such default for a period of 30 days after receipt by Lessee of written notice from Lessor, Owner Participant, Policy Provider or the Indenture Trustee, demanding that such action be taken; or (f) Any representation or warranty made by Lessee in any Lessee Agreement or any representation or warranty made by TILC in any Operative Agreement to which any such Person is a party, in each case, other than the Tax Indemnity Agreement, is untrue or incorrect in any material respect as of the date of making thereof and such untruth or incorrectness shall continue to be material and unremedied for a period of 30 days after receipt of notice from Lessor, Owner Participant, Indenture Trustee or the Policy Provider; provided that, if such untruth or incorrectness is capable of being remedied, no such untruth or incorrectness shall constitute a Lease Event of Default hereunder for a period of 120 days after receipt of notice from Lessor, Owner Participant, the Indenture Trustee or the Policy Provider so long as Lessee, TILC or TRMI, as the case may be, is diligently proceeding to remedy such untruth or incorrectness and shall in fact remedy such untruth or incorrectness within such period; provided that such untrue or incorrect representation or warranty shall be deemed to be remediable or remedied only after all adverse consequences thereof if any, can be and have been remedied as applicable; or (g) Lessee or the General Partner shall (i) commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect, or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, or (ii) consent to any such relief or to the appointment of or taking possession by any such official in any voluntary case or other proceeding commenced against it, or (iii) admit in writing its inability to pay its debts generally as they come due, or (iv) make a general assignment for the benefit of creditors, or (v) take any corporate or partnership action to authorize any of the foregoing; or (h) An involuntary case or other proceeding shall be commenced against Lessee or the General Partner seeking liquidation, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect, or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of 60 days; or (i) Lessee shall fail to observe or perform any other of the covenants or agreements to be observed or performed by Lessee under any Lessee Agreement or any certificate and such failure shall continue unremedied for 30 days after notice from Lessor, Owner Participant, Policy Provider or the Indenture Trustee to Lessee, specifying the failure and demanding the same to be remedied; provided that, if such failure is capable of being remedied, and the remedy requires an action other than, or in addition to, the payment of money, no such failure (other than one relating to the payment of such money) shall constitute a Lease Event of Default hereunder for a period of 150 days after receipt of such notice so long as Lessee is diligently proceeding to remedy such failure and shall in fact remedy such failure within such period; or (j) A Manager Default shall have occurred and be continuing under the Management Agreement, and Lessee shall have failed to exercise its rights under the Management Agreement in respect of such Manager Default for a period of 30 days after receipt by Lessee of written notice from Lessor, Owner Participant or the Indenture Trustee demanding that such action be taken; or

  • Events of Default Any of the following shall constitute an Event of Default:

  • Events of Tenant’s Default Tenant shall be in default of its obligations under this Lease if any of the following events (each an “Event of Default”) occur: (a) Tenant shall have failed to pay Base Monthly Rent or any regularly scheduled Additional Rent when due and such failure continues for more than five (5) days after Landlord gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further notice, shall be required to establish an Event of Default in the same calendar year; or (b) Tenant shall have failed to pay any other Additional Rent or other amount of money or charge payable by Tenant hereunder as and when such additional rent or amount or charge becomes due and payable and such failure continues for more than ten (10) days after Landlord gives written notice to Tenant of Tenant’s failure to make payment when it was due; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further notice, shall be required to establish an Event of Default in the same calendar year; or (c) Tenant shall have failed to perform any term, covenant or condition of this Lease (except those requiring the payment of Base Monthly Rent or Additional Rent, which failures shall be governed by subparagraphs (a) and (b) above) within thirty (30) days after written notice from Landlord to Tenant specifying the nature of such failure and requesting Tenant to perform same; provided, however, that Tenant shall use diligence to cure such failure as soon as reasonably practicable; and provide, further, that if, by the nature of such term, covenant or condition, such failure cannot reasonably be cured within such period of thirty (30) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure within such period of thirty (30) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure within a reasonable time; or (d) Tenant shall have sublet the Leased Premises or assigned or encumbered its interest in this Lease in violation of the provisions contained in Article 7, whether voluntarily or by operation of Law; or (e) Tenant shall have abandoned the Leased Premises (Tenant’s vacating the Leased Premises shall not be deemed an abandonment, so long as Tenant continues to pay Rent and to perform all of Tenant’s other obligations as required under this Lease); or (f) Tenant shall have permitted or suffered the sequestration or attachment of, or execution on, or the appointment of a custodian or receiver with respect to, all or any substantial part of the property or assets of Tenant or any property or asset essential to the conduct of Tenant’s business, and Tenant shall have failed to obtain a return or release of the same within thirty days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or (g) Tenant shall have made a general assignment of all or a substantial part of its assets for the benefit of its creditors; or (h) Tenant shall have allowed (or sought) to have entered against it a decree or order which: (i) grants or constitutes an order for relief, appointment of a trustee, or condemnation or a reorganization plan under the bankruptcy laws of the United States; (ii) approves as properly filed a petition seeking liquidation or reorganization under said bankruptcy laws or any other debtor’s relief law or similar statute of the United States or any state thereof; or (iii) otherwise directs the winding up or liquidation of Tenant; provided, however, if any decree or order was entered without Tenant’s consent or over Tenant’s objection, Landlord may not terminate this Lease pursuant to this Subparagraph if such decree or order is rescinded or reversed within thirty days after its original entry; or (i) Tenant shall have availed itself of the protection of any debtor’s relief law, moratorium law or other similar law which does not require the prior entry of a decree or order.

  • Events of Default Defined Any of the following shall constitute an “Event of Default” under a Property Schedule: (a) Failure by Lessee to pay any Lease Payment under the Property Schedule or other payment required to be paid with respect thereto at the time specified therein; (b) Failure by Lessee to observe and perform any covenant, condition or agreement on its part to be observed or performed with respect to the Property Schedule, other than as referred to in subparagraph (a) above, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied is given to Lessee by Lessor, unless Lessor shall agree in writing to an extension of such time prior to its expiration; provided that, if the failure stated in the notice cannot be corrected within the applicable period, Lessor will not unreasonably withhold its consent to an extension of such time if corrective action is instituted by Lessee within the applicable period and diligently pursued until the default is corrected; (c) Any statement, representation or warranty made by Lessee in or pursuant to the Property Schedule or its execution, delivery or performance shall prove to have been false, incorrect, misleading or breached in any material respect on the date when made; (d) Lessee shall (i) apply for or consent to the appointment of a receiver, trustee, custodian or liquidator of Lessee, or of all or a substantial part of the assets of Lessee, (ii) be unable, fail or admit in writing its inability generally to pay its debts as they become due, (iii) make a general assignment for the benefit of creditors, (iv) have an order for relief entered against it under applicable federal bankruptcy law, or (v) file a voluntary petition in bankruptcy or a petition or an answer seeking reorganization or an arrangement with creditors or taking advantage of any insolvency law or any answer admitting the material allegations of a petition filed against Lessee in any bankruptcy, reorganization or insolvency proceeding; or (e) An order, judgment or decree shall be entered by any court of competent jurisdiction, approving a petition or appointing a receiver, trustee, custodian or liquidator of Lessee or of all or a substantial part of the assets of Lessee, in each case without its application, approval or consent, and such order, judgment or decree shall continue unstayed and in effect for any period of 60 consecutive days.

  • Additional Events of Default In addition to the Events of Default set forth in the Indenture, the term “Event of Default,” whenever used in the Indenture or this Supplemental Indenture with respect to the Senior Notes, means any one of the following events (whatever the reason for such Event of Default and whether it may be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree, or order of any court or any order, rule, or regulation of any administrative or governmental body): (a) the failure to redeem the Senior Notes when required pursuant to the terms and conditions thereof or to pay the repurchase price for Senior Notes to be repurchased in accordance with Section 3.2 of this Supplemental Indenture; (b) any nonpayment at maturity or other default under any agreement or instrument relating to any other Indebtedness of the Company or any of its Restricted Subsidiaries (the unpaid principal amount of which is not less than $100.0 million), and, in any such case, such default (i) continues beyond any period of grace provided with respect thereto and (ii) results in such Indebtedness becoming due prior to its stated maturity or occurs at the final maturity of such Indebtedness; provided, however, that, subject to the provisions of Section 9.01 and 8.08 of the Indenture, the Trustee shall not be deemed to have knowledge of such nonpayment or other default unless either (1) a Responsible Officer of the Trustee has actual knowledge of nonpayment or other default or (2) the Trustee has received written notice thereof from the Company, from any Holder, from the holder of any such Indebtedness or from the trustee under the agreement or instrument, relating to such Indebtedness; (c) the entry of one or more final judgments or orders for the payment of money against the Company, the Guarantor or any of their respective Restricted Subsidiaries, which judgments and orders create a liability of $100.0 million or more in excess of insured amounts and have not been stayed (by appeal or otherwise), vacated, discharged, or otherwise satisfied within 60 calendar days of the entry of such judgments and orders; (d) the Guarantee ceases to be in full force and effect (except as contemplated by the terms of the Indenture) or is declared in a judicial proceeding to be null and void, or the Guarantor denies or disaffirms in writing its obligation under the Guarantee; and (e) Events of Default of the type and subject to the conditions set forth in clauses (vii) and (viii) of Section 8.01(a) of the Indenture in respect of any Significant Subsidiary or, in related events, any group of Subsidiaries of the Company or Guarantor which, if considered in the aggregate, would be a Significant Subsidiary of the Company or Guarantor.