Common use of Evidence of Default Clause in Contracts

Evidence of Default. The occurrence or existence of any one or more of the following shall constitute a “DEFAULT” by Tenant under this Lease: (i) Tenant fails to pay any installment or other payment of Rent when due (provided that Tenant shall have five (5) days after written notice of the failure to cure the default on the first two (and only two) occasions thereof occurring in any twelve (12) consecutive month period during the Term); (ii)Tenant fails to observe or perform any of the other covenants, conditions or provisions of this Lease and fails to cure the default within thirty (30) days after written notice thereof to Tenant (provided that the thirty (30) day period shall be extended for the time reasonably required to complete the cure, not exceeding, in any event, an additional ninety (90) day period, if the failure cannot reasonably be cured within the thirty (30) day period and Tenant commences to cure such failure within the thirty (30) day period and thereafter diligently and continuously proceeds to cure the failure and provided further that if the default is not reasonably susceptible of being cured within the ninety (90) day period, and Tenant is diligently proceeding with the cure, the ninety (90) day period shall be extended while Tenant is diligently curing, so long as the default does not cause a default under any Mortgage or Ground Lease (each, as hereinafter defined in Section 23.A), create any risk to life, health or safety at the Project or otherwise cause Landlord to be in default under any lease or other agreement to which Landlord is a party or bound); (iii) the interest of Tenant in this Lease is levied upon under execution or other legal process; (iv) a petition is filed by or against Tenant to declare Tenant bankrupt or seeking a plan or reorganization or arrangement under any Chapter of the United States Bankruptcy Code (or any similar law for the relief of debtors), or any amendment, replacement, or substitution therefor, or to delay payment of, reduce or modify Tenant’s debts, which in the case of an involuntary action, is not discharged within ninety (90) days after filing of the petition; (vi) Tenant is declared insolvent by law or any assignment of Tenant’s property is made for the benefit of creditors; (vi) a receiver is appointed for Tenant or Tenant’s property, which appointment is not discharged within sixty (60) days after the appointment; (vii) any action taken by or against Tenant to reorganize or modify Tenant’s capital structure, which in the case of an involuntary action, is not discharged within sixty (60) days after the action; or (ix) upon the dissolution of Tenant.

Evidence of Default. The occurrence or existence of any one or more of the following shall constitute a “"DEFAULT” " by Tenant under this Lease: (i) Tenant fails to pay any installment or other payment of Rent when due (provided that Tenant shall have five (5) days after written notice of the failure to cure the default on the first two (and only two) occasions thereof occurring in any twelve (12) consecutive month period during the Term); (ii)Tenant fails to observe or perform any of the other covenants, conditions or provisions of this Lease and fails to cure the default within thirty (30) days after written notice thereof to Tenant (provided that the thirty (30) day period shall be extended for the time reasonably required to complete the cure, not exceeding, in any event, an additional ninety (90) day period, if the failure cannot reasonably be cured within the thirty (30) day period and Tenant commences to cure such failure within the thirty (30) day period and thereafter diligently and continuously proceeds to cure the failure and provided further that if the default is not reasonably susceptible of being cured within the ninety (90) day period, and Tenant is diligently proceeding with the cure, the ninety (90) day period shall be extended while Tenant is diligently curing, so long as the default does not cause a default under any Mortgage or Ground Lease (each, as hereinafter defined in Section 23.A), create any risk to life, health or safety at the Project or otherwise cause Landlord to be in default under any lease or other agreement to which Landlord is a party or bound); (iii) the interest of Tenant in this Lease is levied upon under execution or other legal process; (iv) a petition is filed by or against Tenant to declare Tenant bankrupt or seeking a plan or reorganization or arrangement under any Chapter of the United States Bankruptcy Code (or any similar law for the relief of debtors), or any amendment, replacement, or substitution therefor, or to delay payment of, reduce or modify Tenant’s 's debts, which in the case of an involuntary action, is not discharged within ninety (90) days after filing of the petition; (vi) Tenant is declared insolvent by law or any assignment of Tenant’s 's property is made for the benefit of creditors; (vi) a receiver is appointed for Tenant or Tenant’s 's property, which appointment is not discharged within sixty (60) days after the appointment; (vii) any action taken by or against Tenant to reorganize or modify Tenant’s 's capital structure, which in the case of an involuntary action, is not discharged within sixty (60) days after the action; or (ix) upon the dissolution of Tenant.