Events of Tenant Default. Each of the following shall constitute an Event of Default: (i) Tenant fails to observe or perform any other term, condition or covenant herein binding upon or obligating Tenant within 10 days after receipt of written notice from Landlord; provided, however, that if Landlord reasonably determines that such failure cannot be cured within said 10-day period, then Landlord may in its reasonable discretion extend the period to cure the default for up to an additional 20 days provided Tenant has commenced to cure the default within the 10-day period and diligently pursues such cure to completion (notwithstanding the foregoing, if Landlord provides Tenant with notice of Tenant’s failure to observe or perform any term, condition or covenant under this Subsection (i) on 2 or more occasions during any 12 month period, then Tenant’s subsequent violation shall, at Landlord’s option, be deemed an Event of Default immediately upon the occurrence of such failure, regardless of whether Landlord provides Tenant notice, or Tenant has commenced the cure of the same); (ii) Tenant fails to substantially complete construction of the Project by the deadline established in this Lease; (iii) Tenant abandons or discontinues operating a soccer training facility on the Premises; (iv) Tenant fails to immediately remedy or discontinue any hazardous conditions which Tenant has created or permitted in violation of law or of this Lease; (v) Tenant is declared or adjudicated bankrupt; and
Appears in 2 contracts
Sources: Soccer Training Facility Agreement and Land Lease, Soccer Training Facility Agreement and Land Lease