Lease Default or Lease Event of Default Clause Samples

A Lease Default or Lease Event of Default clause defines the specific actions or omissions by the tenant that constitute a breach of the lease agreement. Typically, this clause outlines events such as failure to pay rent on time, unauthorized alterations to the property, or violation of other material terms of the lease. By clearly identifying what constitutes a default, the clause provides both parties with a clear understanding of their obligations and the consequences of non-compliance, thereby helping to prevent disputes and enabling the landlord to take remedial action if necessary.
Lease Default or Lease Event of Default. For purposes of determining whether a Transferee is a "Competitor" of Calpine, Calpine shall provide to the transferor Owner Participant on or prior to the Closing Date a list of entities which Calpine reasonably believes in its good faith judgment are competitors of Calpine or any of its Affiliates, in the business in which Calpine or any of its Affiliates is engaged as of the Closing Date, which list shall be attached to this Agreement as Exhibit K. Any such Person on such list shall be deemed to be a "
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Lease Default or Lease Event of Default. Notwithstanding anything to the contrary under the Operative Documents, as long as any Lease Default or any Lease Event of Default shall have occurred and be continuing, any amount that otherwise would be payable to or for the account of, or that otherwise would be retained by, the Lessee pursuant to this Section 12, Section 13 or otherwise under the Operative Documents shall be paid to the Lessor (or to the Indenture Trustee as long as the Lien of the Indenture is still in effect) as security for the obligations of the Lessee under this Lease and, subject to the Indenture, applied against the Lessee’s payment obligations hereunder when and as they become due and payable and, at such time thereafter as no Lease Default or Lease Event of Default shall be continuing, such amount shall, to the extent not theretofore applied as provided herein or in the Indenture, be paid promptly to the Lessee or as it may direct.
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Related to Lease Default or Lease Event of Default

  • Notice of Default or Event of Default promptly, and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

  • Default or Event of Default Seller shall notify Buyer of the occurrence of any Default or Event of Default with respect to Seller as soon as possible but in no event later than two (2) Business Days after obtaining Knowledge of such event.

  • No Default or Event of Default No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date unless such Default or Event of Default shall have been waived in accordance with this Agreement.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

  • Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders, notices of all Events of Default known to the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders. (b) The Guarantee Trustee shall not be deemed to have knowledge of any Event of Default unless the Guarantee Trustee shall have received written notice, or a Responsible Officer charged with the administration of this Guarantee Agreement shall have obtained written notice, of such Event of Default.