Lease Events of Default Clause Samples

Lease Events of Default. A Lease Event of Default occurs if: (a) (i) any Lessee (or the Servicer on its behalf) fails to pay to the MLS Collection Account (Tranche 2) all Customer Receivables received and permitted to be paid to the MLS Collection Account (Tranche 2) by such Lessee in satisfaction of any Rental Payment obligation on the due date thereof or (ii) any Lessee (or the Guarantor on its behalf) fails to make any Rental Payment on or before the Business Day prior to the Scheduled Monthly Reporting Date immediately following the due date thereof; (b) any Lessee (or the Guarantor on its behalf) fails to pay any other amount (other than as set forth in Section 3.1(a) (Lease Events of Default)) due and payable under this Agreement or a Device Lease unless such breach is remedied within 10 Business Days following the date of receipt of a written notice from Lessor specifying the breach; (c) any Lessee breaches Section 2.3(b) (Liens), Section 2.12 (Non-Return Remedies), Section 2.13(b) (Upgrade Exchanges), Section 4.1(a) (Indemnities), Section 6.7 (Licenses and approvals), Section 7.1(i) (Notification of Default), Section 7.2(b) (No Modification of Customer Leases), or Section 7.2(c) (Change in Credit and Collection Policy, Upgrade Policy or Business) of this Agreement, and such breach is not remedied within 10 Business Days of the date of receipt of written notice from Lessor specifying the breach; (d) any Lessee breaches any other representation, warranty, covenant or other provision of this Agreement or any other Transaction Document in any material respect (other than as specified in paragraphs (a), (b) and (c) above), and such breach is not remedied within 10 Business Days of the date of receipt of written notice from Lessor specifying the breach; (e) any Originator breaches any provision of any Transaction Document to which it is a party in any material respect and such breach is not remedied within 10 Business Days of the date of receipt of written notice from Lessor specifying the breach; (f) [reserved]; (g) a Servicer Replacement Event occurs; (h) Sprint’s license to provide wireless telephony services is terminated and not replaced; (i) the occurrence of an Insolvency Event with respect to a Sprint Party; (j) the Guarantor fails to pay any amount due and payable under the Sprint Guarantee, or the Sprint Guarantee is terminated or ceases to be in full force and effect for any reason (other than termination in accordance with its terms) before the Final Settlement Date,...

Lease Events of Default. 15 16.2 Remedies...................................................................... 17

Lease Events of Default. If any one (1) or more of the following events (each a "Lease Event of Default") shall occur: (a) Lessee shall fail to make payment of (i) any Basic Rent (except as set forth in clause (ii)) within three (3) days after the same has become due and payable or (ii) any Termination Value, on the date any such payment is due and payable, or any payment of Basic Rent or Supplemental Rent due on the due date of any such payment of Termination Value, or any amount due on the Expiration Date; (b) Lessee shall fail to make payment of any Supplemental Rent (other than Supplemental Rent referred to in Section 17.1(a)(ii)) or any other Credit Party shall fail to make any payment of any amount under any Operative Agreement which has become due and payable within three (3) days after receipt of notice that such payment is due; (c) Lessee shall fail to maintain insurance as required by Article XIV of this Lease or to deliver any requisite annual certificate with respect thereto within ten (10) days of the date such certificate is due under the terms hereof; (i) Lessee shall fail to observe or perform any term, covenant, obligation or condition of Lessee under this Lease (including without limitation the Incorporated Covenants) or any other Operative Agreement to which Lessee is a party other than those set forth in Sections 17.1(a), (b) or (c) hereof, or any other Credit Party shall fail to observe or perform any term, covenant, obligation or condition of such Credit Party under any Operative Agreement other than those set forth in Section 17.1(b) hereof and such failure shall continue for twenty (20) days (or with respect to the Incorporated Covenants, the grace period, if any, applicable thereto) after notice thereof to the Lessee or such Credit Party, or (ii) any representation or warranty made by Lessee or any other Credit Party set forth in this Lease (including without limitation the Incorporated Representation and Warranties) or in any other Operative Agreement or in any document entered into in connection herewith or therewith or in any document, certificate or financial or other statement delivered in connection herewith or therewith shall be false or inaccurate in any material way when made; (e) An Agency Agreement Event of Default shall have occurred and be continuing; (f) The default of any Credit Party in the payment or performance of any terms of (i) any lease of a Health Care Facility or Indebtedness secured by real property, whether now or hereafter entere...

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 ...

Lease Events of Default. The occurrence of any one or more of the following events (whether 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) shall constitute a "Lease Event of Default": (a) any representation or warranty made or deemed made by the Lessee in or in connection with the execution and delivery of this Master Lease or the other Operative Documents or the transactions contemplated hereby or thereby (including any representation or warranty contained in any certificate, document or financial or other statement furnished at any time under or in connection with any Operative Document) shall prove to have been false or misleading in any material respect when so made, deemed made or furnished; (b) any default shall be made in the payment of any Basic Rent, Property Cost, Aggregate Property Cost, Termination Price, Termination Base Amount or Lease Balance when Master Lease and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or by acceleration thereof or otherwise; (c) the Lessee shall fail to pay any Fee or Supplemental Rent (other than an amount referred to in paragraph (b) above) when due under the Operative Documents and such failure shall be continuing on the tenth (10th) Business Day following the date on which the Lessee receives written notice that such amount is due and payable; (d) any default shall be made in the due observance or performance of any covenant, condition or agreement contained in Section 10.1(a), 10.1(e), 10.2(a), 10.2(b), 10.2(c) or 10.2(d) of the Participation Agreement and, in the case of any default under Section 10.2(b) of the Participation Agreement, such default shall continue for thirty (30) days; (e) any default shall be made in the due observance or performance of any covenant, condition or agreement contained herein or in any other Operative Document (other than those specified in paragraph (b), (c) or (d) above or paragraph (l) below) and (i) in the case of any such covenant, condition or agreement contained in clauses (a) through (i) of Section 10.1 of the Participation Agreement or contained in Section 10.2 of the Participation Agreement, such default shall continue unremedied for a period of thirty (30) days after notice thereof from the Lessor or any Investor to the Lesse...

Lease Events of Default. If any one or more of the following events (each a "Lease Event of Default") shall occur: (a) has become due and payable or (ii) any Maximum Residual Guarantee Amount, Purchase Option Price or Termination Value after the same has become due and payable; or (b) Lessee shall fail to maintain insurance as required by Section 14; or (c) Lessee shall fail to observe or perform any term, covenant or condition of Lessee under this Lease, the Participation Agreement or any other Operative Agreement to which it is a party (other than those set forth in Section 17.1(a) or (b) hereof) and such failure is not cured within twenty (20) Business Days after the giving of notice thereof by the Agent or, if such failure is not reasonably susceptible of cure within such period, within such longer period as is reasonably necessary to effect a cure so long as Lessee continues to diligently pursue such cure but not in any event in excess of forty (40) Business Days; or (d) any representation or warranty by Lessee set forth in this Lease or in any other Operative Agreement to which it is a party or in any document entered into in connection herewith or therewith or in any document, certificate or financial or other statement delivered in connection herewith or therewith shall be false or inaccurate in any material way; or (e) an Agency Agreement Event of Default shall have occurred and be continuing; or (f) Lessee or any Guarantor shall (i) admit in writing its inability to pay its debts generally as they become due, (ii) file a petition under the United States bankruptcy laws or any other applicable insolvency law or statute of the United States of America or any State or Commonwealth thereof, (iii) make a general assignment for the benefit of its creditors, (iv) consent to the appointment of a receiver of itself or the whole or any substantial part of its property, (v) fail to cause the discharge of any custodian, trustee or receiver appointed for Lessee or such Guarantor or the whole or a substantial part of its property within ninety (90) days after such appointment, or (vi) file a petition or answer seeking or consenting to reorganization under the United States bankruptcy laws or any other applicable insolvency law or statute of the United States of America or any State or Commonwealth thereof; or (h) a Credit Agreement Event of Default of the type specified in Section 6.1(c), 6.1(e), 6.1(g), 6.1(i), 6.1(k), 6.1(m) or 6.1(n) of the Credit Agreement shall have occurred and ...

Lease Events of Default. 65 Section 12.2. Remedies.............................................................................. 68 Section 12.3.

Lease Events of Default. The occurrence of a Lease Event of Default.

Lease Events of Default. 28 14.1 Payments............................................29 14.2 Insurance...........................................29 14.3