Lease Event of Default Clause Samples
A Lease Event of Default clause defines specific actions or failures by the tenant that constitute a breach of the lease agreement. Typically, this includes non-payment of rent, unauthorized use of the property, or failure to maintain required insurance. When such an event occurs, the landlord is usually granted certain remedies, such as the right to terminate the lease or seek damages. The core function of this clause is to clearly outline what constitutes a default and to provide a structured process for addressing breaches, thereby protecting the landlord’s interests and ensuring both parties understand the consequences of non-compliance.
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Lease Event of Default any one or more of the conditions, circumstances, acts, or events set forth inss. 14 of the Lease. LESSEE: American Trans Air, Inc., an Indiana corporation.
Lease Event of Default. Upon the occurrence and continuation of a Lease Event of Default, pursuant to which a termination payment as set forth in Section 24(d) of the Lease Agreement has become due and payable, the Certificate Holder Amounts evidenced by the Certificates (with accrued Equity Return thereon) and all other amounts then owing to the Certificate Holders by Trustee under this Trust Agreement, the Certificates and the other Operative Documents shall immediately become due and payable.
Lease Event of Default. If an event of default (howsoever described) is continuing under a Lease or a Permitted Sub- Lease whilst a Lessee or Sub-lessee, as the case may be, is in possession of the Aircraft, the Head Lessee shall promptly notify the Security Trustee of the steps that it is proposing to take to enforce the terms of the Lease or Permitted Sub-lease, as the case may be.
Lease Event of Default. The Borrower will promptly provide the Lenders with copies of all amendments to the foregoing documents and instruments as in effect as of the Restatement Closing Date.
Lease Event of Default. If a Lease Event of Default shall occur under an Eligible Lease, Lender shall have the right to require the Borrower to prepay, and the Borrower shall prepay, on a date no later than 180 days from the date of the Lender’s request for such prepayment, the entire then outstanding principal of the relevant Loan, together with interest thereon and all other amounts due the Lender under the Loan Documents to the extent they relate to such relevant Loan (including, but not limited to, Break Costs); provided, however, in respect of any Eligible Lease the Borrower shall have the right to cure two such Lease Events of Default before the Lender shall have the right to require the prepayment provided for herein.
Lease Event of Default. Any Lease Event of Default.
Lease Event of Default. The relevant Export Lessee shall be expressly entitled by the Permitted Lease to terminate the leasing of the Aircraft by the Lessee, and to repossess the same, at any time after the expiration of the agreed grace period or remedy period, if any, of the occurrence of certain events, which will be broadly consistent with those set out in Clause 20 of such Model Lease Agreement, amended mutatis mutandis to reflect the change in Lessee, but in any event including in such events, failure of the concerned Lessee to pay amounts payable by it thereunder or to affect Insurances in accordance with the requirements of the relevant Permitted Lease or the bankruptcy of such
Lease Event of Default. The waiver here given is specific to the covenants, and for the fiscal quarter of Lessee, referred to above and shall not operate as a waiver of compliance by Lessee with any other covenants set forth in the Participation Agreement, or with the covenants set forth above for any other fiscal quarter of Lessee.
Lease Event of Default a statement that such officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Lessee Guarantor, the Lessee and their respective Subsidiaries from the beginning of the quarterly or annual period covered by the statements then being furnished to the date of the certificate and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a Lease Default or a Lease Event of Default or, if any such condition or event existed or exists (including, without limitation, any such event or condition resulting from the failure of the Lessee Guarantor, the Lessee or any Subsidiary to comply with any Environmental Law), specifying the nature and period of existence thereof and what action the Lessee Guarantor or the Lessee shall have taken or proposes to take with respect thereto.
Lease Event of Default. A Lease Event of Default shall have occurred and be continuing; or