Common use of Default Provisions Clause in Contracts

Default Provisions. In addition to any Default arising under Section 20.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.

Appears in 9 contracts

Samples: www.sec.gov, KAR Holdings, Inc., KAR Holdings, Inc.

AutoNDA by SimpleDocs

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Defaultdefault by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment AS AND when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failurehereunder; (b) except as is otherwise provided below in this Section 20.2TENANT'S ABANDONMENT OF THE LEASED PREMISES PROVIDED, if HOWEVER, TENANT SHALL NOT BE DEEMED TO HAVE ABANDONED THE LEASED PREMISES IF TENANT VACATES THE LEASED PREMISES BUT CONTINUES TO OPERATE THE AIR-CONDITIONING SYSTEMS AT REASONABLE TEMPERATURE SETTINGS AND OTHERWISE CONTINUES TO MAINTAIN THE LEASED PREMISES, AND CONTINUES TO PAY RENT AND ADDITIONAL RENT, AS REQUIRED HEREIN; or (c) Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s 's delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease's notice.

Appears in 2 contracts

Samples: Asset Acceptance Capital Corp, Asset Acceptance Capital Corp

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Defaultdefault by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leasenotice.

Appears in 2 contracts

Samples: Zars Inc/Ut, Makemusic Inc

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Defaultdefault by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; or (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within deliver to Landlord prior written notice (accompanied by an additional security deposit equal to two monthly installments of Base Rent) before Tenant vacates or abandons the time period, if any, provided in Premises during the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseTerm.

Appears in 2 contracts

Samples: Liquidity Services Inc, Liquidity Services Inc

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Defaultdefault by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s 's delivery to Tenant of written notice of such default under this Section 20.2(bSECTION 21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 SECTION 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s 's original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; or (c) Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseTerm.

Appears in 2 contracts

Samples: Build a Bear Workshop Inc, Build a Bear Workshop Inc

Default Provisions. In addition to any Default arising under Section 20.1 21.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord’s election, (c) if Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseTerm.

Appears in 2 contracts

Samples: GlenRose Instruments Inc., Argyle Security, Inc.

Default Provisions. In addition to any Default arising under Section 20.1 21.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord’s election, or (c) if Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseTerm.

Appears in 2 contracts

Samples: Insys Therapeutics, Inc., Insys Therapeutics, Inc.

Default Provisions. In addition to any Default arising under Section 20.1 21.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 twelve (12) month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten five (105) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 sixty (60) days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord’s election, (c) if Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseTerm.

Appears in 2 contracts

Samples: Renewal Option (United Natural Foods Inc), Renewal Option (United Natural Foods Inc)

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Defaultdefault by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent Relit on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 of30 days after Landlord’s 's delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b ); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s 's original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leasenotice.

Appears in 2 contracts

Samples: Natural Golf Corp, Natural Golf Corp

Default Provisions. In addition to any Default arising under Section 20.1 above, each (a) Any of the following occurrences or acts shall constitute a Defaultan event of default under this Lease: (ai) if Tenant fails to pay Rent or any other payment when due hereunder within ten Lessee shall (101) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment Basic Rent, Additional Rent or other sum as and when required to be paid by Lessee hereunder and such failure shall continue for 8 days after notice to Lessee of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall failure or (2) fail to pay an installment observe or perform any other provision hereof and such failure shall continue for 28 days after notice to Lessee of Rent on such failure (provided that in the date case of any such installment default which cannot be cured by the payment of Rent is duemoney and cannot with diligence be cured within such 28-day period, Landlord if Lessee shall commence promptly to cure the same and thereafter prosecute the curing thereof with diligence, the time within which such default may be cured shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day extended for such period in which to cure any such failure; (b) except as is otherwise provided below necessary to complete the curing thereof with diligence); or (ii) if any representation or warranty of Lessee set forth in this Section 20.2any notice, certificate, demand or request delivered to Lessor or the Mortgagee shall prove to be incorrect in any material and adverse respect as of the time when the same shall have been made; or (iii) if Tenant failsa receiver, whether by action trustee or inaction, to timely comply with, liquidator of Lessee or satisfy, any of all or substantially all of the obligations imposed on Tenant under this Lease assets of Lessee or of the Premises or Lessee’s estate therein shall be appointed in any proceeding brought by Lessee, or if any such receiver, trustee or liquidator shall be appointed in any proceeding brought against Lessee and shall not be discharged within 90 days after such appointment, or if Lessee shall consent to or acquiesce in such appointment; or (iv) if the Comptroller of the Currency or any other than state or federal regulatory authority shall appoint a receiver or conservator for Lessee or of all or substantially all of its assets, or otherwise take possession or control of such assets and such receiver, conservator, possession or control shall not be discharged within 90 days after such appointment or taking shall have occurred; or (v) if Lessee shall take any action looking toward liquidation, dissolution or the obligation voluntary surrender of its charter except in connection with a transaction permitted by Section 7.04 or a reincorporation or the obtaining of a new banking charter; or (vi) if Lessee shall become subject to federal bankruptcy law or state insolvency statutes and Lessee shall file a petition in bankruptcy or for reorganization or for an arrangement pursuant to any federal or state bankruptcy law or any similar federal or state law, or shall be adjudicated a bankrupt or become insolvent or shall make an assignment for the benefit of creditors or shall admit in writing its inability to pay Rentits debts generally as they become due, or if a petition or answer proposing the adjudication of Lessee’s reorganization or as a bankrupt pursuant to any federal or state bankruptcy law or any similar federal or state law shall be filed in any court and Lessee shall consent to or acquiesce in the filing thereof or such petition or answer shall not be discharged or denied within 90 days after the filing thereof; or (vii) if the Premises shall have been left unoccupied and unattended for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same days. The Premises shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; unattended if staffed with adequate security and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leasemaintenance personnel.

Appears in 1 contract

Samples: Lease Agreement (Mellon Financial Corp)

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Defaultdefault by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) three day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 75 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; or (c) Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D Term. Notwithstanding the immediately preceding item (“Other Leases”c), which default under one or more of Tenant shall be permitted to vacate the Other Leases is not cured on a timely basisPremises so long as Tenant continues to pay Rent, pursuant to and maintains and secures the Premises in accordance with the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leaseconditions set forth herein.

Appears in 1 contract

Samples: M Wave Inc

Default Provisions. In addition to any Default arising under Section 20.1 21.1 above, each of the following shall constitute a Default: (aDefault:(a) if Tenant ifTenant fails to pay Rent or any other payment when due hereunder within ten (10) days after five daysafter written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, ,on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on Renton the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, ,whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s 's delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s 's original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord's election, (c) if Tenant abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”)Term, which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all the guarantor set forth in Section 1.7 of its obligations this Lease ("Guarantor") under that certain Guaranty of LeaseGuaranty, dated of even date herewith and attached to, and hereby made a part of this Lease, as Exhibit G (the "Guaranty"), and breaches, defaults under, or fails to comply with any or all of the requirements of the Guaranty. In connection with any default notice given pursuant to Sub-Section (b) above, Landlord agrees, in connection with any attempt of Tenant to cure same within the time period, if any, any default referenced in such notice,to reasonably respond to any inquiries or reasonable requests for clarification concerning any such default or curative action required by Landlord provided in the Guaranty (each, that such obligation ofreasonable responsiveness and any actual response undertaken by Landlord shall not constitute a “Guaranty Default”); upon the occurrence waiver under any provision of law or equity of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default Landlord's rights or remedies held by Landlord under this LeaseLease or at law.

Appears in 1 contract

Samples: R & B Inc

Default Provisions. In addition to any Default arising under Section 20.1 abovethe event this transaction does not close as the result of a material Purchaser default, each Seller shall receive the Xxxxxxx Money together with all interest earned thereon as agreed and liquidated damages for said breach, and as Seller’s sole and exclusive remedy at law and in equity for default of Purchaser, whereupon the following parties shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after written notice from Landlord be relieved of such failure to pay on the due dateall further obligations hereunder, except those obligations which expressly survive termination; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail such default by Purchaser occurs prior to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all expiration of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); providedInspection Period, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same then EXECUTION VERSION Seller shall not be entitled to receive the Xxxxxxx Money or any interest earned thereon, and such amounts shall be returned to Purchaser. In the event of a material default by Seller under this Agreement, Purchaser at its option shall have the right to: (i) terminate this Agreement and receive the return of the Xxxxxxx Money together with all interest earned thereon and all reasonable out of pocket third-party expenses not to exceed Fifty Thousand ($50,000.00) Dollars in the aggregate incurred by Purchaser with respect to this transaction whereupon the parties shall be released from all further obligations under this Agreement except those except those arising under Paragraph 14, or (ii) seek specific performance of the Seller’s obligations hereunder. If specific performance is unavailable solely due to Seller’s transfer of the Property to a third party, Purchaser shall the right to seek damages. Any action for specific performance or damages must be commenced within sixty (60) days after Seller’s default. Purchaser further agrees that every otherwise applicable period of limitation to commence any action or proceeding for specific performance or damages shall be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same have expired within the time periodperiods set forth in this Paragraph 7, if anywhich time periods shall not be subject to extension, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of enlargement or waiver by any Guaranty Default, there means. The provisions hereof shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leasesurvive Closing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Apyx Medical Corp)

Default Provisions. In addition to any Default arising under Section 20.1 20.1, above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b)20.2; provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.

Appears in 1 contract

Samples: KAR Holdings, Inc.

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following items shall constitute a Defaultdefault under this Lease by Lessee: (a) if Tenant Lessee fails to pay Base Rent or any other payment Additional Rent when due hereunder within hereunder, and such failure continues for more than ten (10) days after Lessor delivers written notice from Landlord to Lessee advising Lessee of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, Lessee fails to timely comply withsatisfy any monetary obligation imposed under this Lease, or satisfyother than the payment of Base Rent and Additional Rent, and such failure continues for more than fifteen (15) days after Lessor delivers written notice to Lessee advising Lessee of such failure; (c) if Lessee fails to cure any or all of the obligations imposed on Tenant non-monetary default under this Lease within thirty (other than the obligation to pay Rent30) for a period of 30 days after Landlord’s delivery to Tenant of Lessor delivers written notice advising Lessee of such default, or in the case of a non-monetary default under this Section 20.2(b); provided, however, that if the default which cannot, by its nature, be cured within such 30 a period of thirty (30) days and the continuance of which for the period required for cure will not (i) subject Lessor to any litigation; or (ii) subject the Premises, or any part thereof, to condemnation; (iii) subject the Premises, or any part thereof, to any lien or encumbrance; or (iv) result in the termination of the Lease or foreclosure of any superior mortgage, and if Lessee shall not have (x) within said thirty (30) day period, but Tenant commences and diligently pursues a cure advised Lessor of Xxxxxx's intention to take all steps necessary to remedy such default promptly default; (y) duly commenced, within the initial 30 said thirty (30) day cure period, then, as long as Tenant continues to and thereafter diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after all steps necessary to remedy the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Leasedefault; and (z) completed such remedy within a reasonable time; (d) Guarantor defaults under if any event shall occur, or all any contingency shall arise, whereby this Lease or the estate hereby granted, or the unexpired balance of its obligations under that certain Guaranty the Term, would, by operation of Leaselaw or otherwise, dated of even date herewith devolve upon or pass to any person, firm or corporation other than Lessee, except for a sub-let or assignment consented to by Lessor; or (e) if Xxxxxx abandons the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeasePremises.

Appears in 1 contract

Samples: Briazz Inc

Default Provisions. In addition to any Default arising under Section 20.1 21.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 twelve (12) month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 sixty (60) days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord’s election, (c) if Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”)Term, which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults It shall be an automatic Event of Default under any this Lease (for which no notice or cure period shall be required) in the event that (i) Tenant transfers all of some portion of its obligations under assets to another party, regardless of a.) the nature of the assets and b.) whether that certain Guaranty transferee is an affiliate of Lease, dated of even date herewith (the “Guaranty”)Tenant or an unrelated third party, and fails (ii) as a result (directly or indirectly) of such transfer, Tenant no longer has sufficient assets to cure same within permit Tenant to timely and fully satisfy the time period, if any, provided in the Guaranty obligations (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default monetary or otherwise) imposed on it under this Lease.

Appears in 1 contract

Samples: JP Outfitters, Inc.

Default Provisions. In addition to If any Default arising under Section 20.1 above, each of the following events (herein referred to as "events of default") shall constitute occur, namely, if any default shall be made by Tenant in the payment punctually when due and payable of any rent or other monies due hereunder and such default shall continue for a Default: period of three (a3) days after the date due; or if Tenant fails shall fail to pay Rent furnish all insurance coverage as required pursuant to the terms of this Lease; or if default shall be made by Tenant in the performance of any other payment when due hereunder within ten of the terms, covenants, or conditions herein contained to be performed by Tenant and such default shall continue for a period of thirty (1030) days after written notice from Landlord thereof to Tenant (provided that in the case of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether default which cannot be cured by action or inaction, to timely comply with, or satisfy, any or all the payment of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default money and cannot, by its nature, not with diligence be cured within such 30 thirty (30) day period, but if Tenant commences shall commence promptly to cure the same and diligently pursues a cure of thereafter prosecute the curing thereof with diligence, the time within which such default promptly within may be cured shall be extended for such period as is necessary to complete the initial 30 day cure periodcuring thereof with diligence); or if Tenant shall abandon the Premises, then, as long as provided that Tenant shall not be in default hereunder for abandonment of the Premises if Tenant continues to diligently pursue pay the rent and all other sums due hereunder and continues to perform its covenants with respect to the maintenance of the Premises; or if Tenant shall admit in writing its inability to pay its debts generally as they become due, file a petition in bankruptcy, insolvency, reorganization, readjustment of debt, dissolution, or liquidation under any law or statute of the federal government or any state government or any subdivision of either, now or hereafter in effect, make an assignment for the benefit of its creditors, consent to or acquiesce in the appointment of a receiver of itself or of the whole or any substantial part of the Premises; if there shall be filed against Tenant any involuntary petition in bankruptcy, insolvency, reorganization, readjustment of debt, dissolution, or liquidation under any law or statute of the federal government or any state government or any subdivision of either, now or hereafter in effect, and such petition shall not have been dismissed within ninety (90) days after the filing thereof; or if an order, judgment, or decree shall be entered by any court of competent jurisdiction appointing, without the consent of Tenant, a cure to completionreceiver of Tenant or of the whole or any substantial part of the Premises, and such order, judgment, or decree shall not be vacated or set aside or stayed within ninety (90) days from the date of such appointment; or if a court of competent jurisdiction shall enter an order, judgment, or decree approving a petition filed against Tenant under any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, dissolution, or liquidation law or statute of the federal government or any state government or any subdivision of either, now or hereafter in effect, and such order, judgment, or decree shall not be set aside or stayed within ninety (90) days from the date of entry of such order, judgment, or decree, or a stay of such proceedings be thereafter set aside; or if under the provisions of any other law for the relief or aid of debtors, any court of competent jurisdiction shall assume custody or control of Tenant or of the whole or any substantial part of the Premises and such custody or control shall not be terminated within ninety (90) days from the date of assumption of such custody or control; then in any of such event of default, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after have the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.following options:

Appears in 1 contract

Samples: Agreement of Lease (Mony Group Inc)

Default Provisions. In addition This Lease and the term and estate hereby ------------------ granted are subject to any Default arising under Section 20.1 abovethe following limitations, each of the following which shall constitute a Defaultbreach of this Lease by Tenant: (a) if Tenant fails shall fail to pay Gross Rent or Additional Rent or any other payment within five (5) days of when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failurehereunder; (b) except as is otherwise provided below in this Section 20.2, if Tenant failsshall, whether by action or inaction, to timely comply with, or satisfy, be in default of any or all of the its obligations imposed on Tenant under this Lease (other than the obligation to pay Renta default in any payment hereunder) for a period of 30 and such default shall continue and not be remedied within thirty (30) days after Landlord’s delivery Landlord shall have given to Tenant of written a notice of such default under this Section 20.2(b); provided, however, that if specifying the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasesame; (c) in the occurrence case of a non-monetary default under which cannot by its nature with due diligence be cured within a period of thirty (30) days and the continuance of which for the period required for cure will or could subject Landlord to any litigation or subject the Premises or any part thereof or the Building or the Property, or any part thereof, to being condemned or vacated, subject the Building or the Property, or any part thereof, to any lien or encumbrance, or result in the termination of any Superior Lease or foreclosure of any Superior Mortgage, and Tenant shall not have (i) within said thirty (30) day period advised Landlord of Tenant's intention to take all steps necessary to remedy such default, (ii) duly commenced within said thirty (30) day period and thereafter to diligently prosecute to completion all steps necessary to remedy the default, and (iii) completed such remedy within a reasonable time, but in no event later than sixty (60) days after the date of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more said notice of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”)Landlord; upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under if any event shall occur or all any contingency shall arise whereby this Lease or the estate hereby granted or the unexpired balance of its obligations under that certain Guaranty the term hereof would, by operation of Leaselaw or otherwise, dated of even date herewith devolve upon or pass to any person, firm or corporation other than Tenant; or (e) if Tenant shall vacate or abandon the “Guaranty”), and fails to cure same within the time Premises. After Landlord has provided two (2) default notices during any twelve (12) month period, if anyany additional event during such twelve (12) month period which would otherwise require Landlord to provide notice to Tenant in order to be deemed an event of Tenant default, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to immediately deemed an event of Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leasedefault.

Appears in 1 contract

Samples: Lease Agreement (Commerx Inc)

Default Provisions. In addition to any Default arising under Section 20.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completioncure, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 120 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord’s election; (c) if Tenant abandons the occurrence of a default under any Premises during the Term; or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) if Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseAgreement.

Appears in 1 contract

Samples: Industrial Building Lease (Lenox Group Inc)

Default Provisions. In addition to any Default arising under Section SECTION 20.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s 's delivery to Tenant of written notice of such default under this Section 20.2(bSECTION 20.2(B); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completioncure, Landlord shall not exercise its remedies under Section SECTION 21 unless such default remains uncured for more than 270 120 days after the initial delivery of Landlord’s 's original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord's election, (c) if Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or Term for more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leasethan 45 consecutive days.

Appears in 1 contract

Samples: Advanced Lighting Technologies Inc

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Defaultdefault by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten seven (107) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) three separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten seven (107) day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s 's delivery to Tenant of written notice of such default under this Section 20.2(bSECTION 21.2(B); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 SECTION 22 unless such default remains uncured for more than 270 sixty (60) days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” 's notice. Except for purposes of notices expressly provided for in this Lease; (c) the occurrence of a default under any or , Tenant hereby waives all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence notices of any Guaranty Defaultnature, there shall be no notice required to be delivered hereunderincluding, nor shall any cure period be available to without limitation, all notices under the Pennsylvania Landlord and Tenant hereunderAct, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leaseas amended.

Appears in 1 contract

Samples: Protarga Inc

Default Provisions. In addition to any Default arising under Section 20.1 above, each If: (i) Tenant shall default in payment of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when rent due hereunder within ten and such default shall continue for a period of Ten (10) days after the due date of the rent, Landlord will give the Tenant written notice of default and five (5) business days following the notice to cure the default: or (ii) the leased premises become deserted or stand vacant or are used for purpose other than that stated in Article I herein: or (iii) Tenant be in under any other covenant, agreement, obligation or condition of this lease and fails to cure such default within thirty (30) days after written notice thereof from Landlord (or if such default shall be of such failure a nature that it cannot be cured completely within such thirty (30) day period. Tenant shall not have property commenced with such thirty (30) day period and shall not thereafter proceed with reasonable diligence and good faith to pay on the due date; provided, however, that if in any consecutive 12 month remedy such default): such xxxxxx (30) day period, Tenant shall not have properly commenced with such xxxxxx (30) day period and shall not thereafter proceed with reasonable diligence and good faith to remedy such default); (iv) Tenant shall file a voluntary petition in bankruptcy, reorganization or receivership, become insolvent, be adjudicated bankrupt, or make an assignment for the benefit of creditors, or if any involuntary petition in bankruptcy, reorganization or receivership is filed against Tenant and not dismissed within sixty (60) days, any such event shall, on two (2) separate occasionsat Landlord's option, fail constitute a default of Tenant hereunder and Landlord, at Landlord's option and without further notice to pay Tenant, which is hereby expressly waived, may at any installment of Rent on time declare this lease terminated and this lease shall expire as fully and completely as if that day were the date such installment herein originally fixed for the expiration of Rent is duethe term, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail quit and surrender the premises to pay an installment Landlord, but Tenant shall nevertheless continue to remain liable hereunder. Landlord may at any time thereafter re-enter the leased premises and remove all persons and property therefrom by any suitable action or proceeding at law or in equity or by force or otherwise, without being liable for any prosecution thereof or any damages arising therefrom and repossess and enjoy the leased premises. Such re-entry shall not relieve Tenant of Rent on the obligation to make the rental payments required by this Lease at the time and in the manner provided herein. Upon such re-entry, Landlord may, but shall not be required to, repair, alter, remodel and/or change the character of the leased premises as Landlord may see fit and/or at any time relet the premises in whole or in part for any period or time that the Landlord elects, whether longer or shorter than the unexpired portion of the term of this lease, as agent of Tenant, or otherwise, in the name of Landlord or of Tenant, as Landlord may see fit and Landlord may receive the rents therefor, applying the same first to the payment of such reasonable expenses as Landlord may have incurred in entering, dispossessing, reletting, repairing or altering the premises, and then to the fulfillment of the covenants of Tenant herein, including but not limited to the rental payments required hereunder, retaining any such balances until the date the term of this lease would otherwise have expired as security for the payment of all obligations of Tenant which may arise and be unpaid during such installment of Rent is dueperiod. In attempting to relet the leased premises, Landlord shall be relieved from any obligation the sole judge as to provide notice to Tenant, whether or not proposed tenant is suitable and Tenant acceptable. Landlord shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its naturereceiving partial payments of rents in arrears, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” have waived any rights herein for purposes nonpayment of this Lease; (c) rent of for any other default on the occurrence part of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseTenant.

Appears in 1 contract

Samples: Lease (Chattem Inc)

Default Provisions. In addition This Lease is also made upon the condition that if the Lessee shall neglect or fail to perform or observe any Default arising under Section 20.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after written notice from Landlord of such failure to pay covenants herein contained on the due date; providedLessee's part to be performed or observed, howeveror if the estate hereby created shall be taken on execution, that attachment or by other process of law, or if the Lessee shall make or offer to make, in any consecutive 12 month periodor out of bankruptcy, Tenant shall, on two (2) separate occasions, fail to pay any installment a composition of Rent on the date such installment of Rent is due, then, on Lessee's debts with the third such occasion and on each occasion thereafter on which Tenant Lessee's creditors or if Lessee shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from observe any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease Lessor (other than the obligation payment of rent under the Master Lease) that Lessor holds to pay Rent) for a period Master Lessor under the terms and provisions of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that the Master Lease or if the default cannotLessee shall execute a trust mortgage or if the Lessee shall make an assignment for the benefit of its creditors, by its natureor if the Lessee shall commit any act which when done is an act of bankruptcy laws (Federal, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure periodState or otherwise), then, and in any of the said cases (notwithstanding any license of any former breach of covenant or waiver of the benefit hereof or consent in a former instance), the Lessor and the agents and servants of the Lessor lawfully may, in addition to and not in derogation of any remedies for preceding breach of covenant, immediately or at any time thereafter and without demand or notice and with or without process of law (forcibly if necessary) enter into and upon the Leased Premises or any part thereof in the name of the whole and repossess the same as long of the Lessor's former estate and expel the Lessee and those claiming through or under the Lessee and remove the effects of both or either (forcibly, if necessary) without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or preceding breach of covenant, and upon entry as Tenant continues aforesaid, the Lessee's estate shall end, the Lessee hereby waiving all statutory rights; and the Lessee covenants with the Lessor that in case of such termination, or of termination under statute by reason of default on the part of the Lessee, the Lessee will pay to diligently pursue the Lessor, in equal monthly installments in advance, sums equal to the rent herein provided for, or if the Leased Premises have been relet, sums equal to the excess of the rent herein provided over the sums actually received by the Lessor, such sums being payable all as liquidated damages for the unexpired term hereof. And it is also agreed as a cure further condition of this Lease that if any proceedings are instituted in a court of competent jurisdiction for relief or composition of the Lessee's debts under any bankruptcy law (including, without limitation of the foregoing generality, adjudication of the Lessee as a bankrupt), or for the dissolution or liquidation of the Lessee, or for the appointment of a receiver, trustee or other similar officer to completiontake charge of a substantial part of the Lessee's property or to wind up the Lessee's affairs, Landlord shall not exercise its remedies under Section 21 then, unless such default remains uncured for more than 270 said proceedings are dismissed, and any receiver, trustee or other similar officer appointed there discharged, within sixty (60) days after the initial delivery institution of Landlord’s original default notice and such proceedings, the same shall not be deemed to constitute a breach of this Lease and thereupon, ipso facto and without entry or other action by the Lessor, the Lessee's estate shall cease and be a “Default” terminated and the Lessor shall immediately become entitled to recover of the Lessee, and the Lessee agrees in such event to pay the Lessor as liquidated damages for purposes such breach, an amount equal to the amount of the rent herein provided for the residue of the term hereof less the fair rental value of the Leased Premises for the residue of said term. For the purpose of the foregoing provisions of this Paragraph, the expression "rent herein provided for" shall be deemed to include all items of additional rent or other charges or payments for which the Lessee is responsible under any provision of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Camden National Corp)

Default Provisions. In addition case an Event of Default as defined in the Indenture shall have occurred, the principal of all Bonds then outstanding under the Indenture may become due and payable prior to any Default arising their scheduled maturity date. GENERAL PROVISIONS The Bonds are and will be equally and ratably secured to the extent provided by the Indenture by the Installment Sale Payments to be received from the Company under Section 20.1 above, each the Eighth Supplementary Agreement and other amounts payable by the Company under the Eighth Supplementary Agreement. The Issuer has also pledged and assigned to the Trustee as security for the Bonds all other rights and interest of the following Issuer under the Eighth Supplementary Agreement (other than its rights to indemnification and payment of certain administrative expenses and certain other rights). No Registered Owner shall constitute a Default: have any right to pursue any remedy under the Indenture unless (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after the Trustee shall have first been given written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment an Event of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failureDefault; (b) except as is otherwise provided below the Registered Owners of at least 25% in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all principal amount of the obligations imposed on Tenant under this Lease (other than Bonds then Outstanding shall have requested the obligation Trustee in writing to pay Rent) for a period of 30 days after Landlord’s delivery exercise the powers granted in the Indenture or to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise remedy in its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leaseor their name or names; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”)Trustee shall have been offered indemnity satisfactory to it against costs, which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Leaseexpenses and liabilities; and (d) Guarantor defaults the Trustee shall have failed to comply with such request within a reasonable time. While Bonds are registered to Cede & Co., transfer of beneficial ownership in Bonds by Beneficial Owners may be made through the DTC book entry system pursuant to the Indenture. The transfer of Bonds no longer in book-entry only form shall be registered upon the registration books kept at the principal corporate trust office of the Paying Agent, at the written request of the Registered Owner hereof or his attorney duly authorized in writing, upon surrender of this Bond at said office, together with the attached instrument of transfer duly executed by the Registered Owner or his duly authorized attorney. Except in the case of a partial redemption and in connection with the remarketing of Bonds, the Paying Agent shall not be obligated to make any such exchange or transfer of Bonds during the 15 days preceding the date of the first mailing of notice of any proposed redemption of Bonds, nor shall the Paying Agent be required to make any registration or registration of transfer of Bonds called for redemption. The Indenture and the Agreement may be modified or amended only with the consent, with certain exceptions, of the Registered Owners of not less than a majority in aggregate principal amount of all Bonds Outstanding under any or all the Indenture. Reference is hereby made to the Indenture and the Agreement, copies of its which are on file with the Trustee, for the provisions, among others, with respect to the nature and extent of the rights, duties and obligations under that certain Guaranty of Leasethe Issuer, dated of even date herewith (the “Guaranty”)Company, the Trustee, the Paying Agent, and fails the Remarketing Agent appointed pursuant to cure the Indenture, and the Registered Owners of the Bonds. The Registered Owner of this Bond, by the acceptance hereof is deemed to have agreed and consented to the terms and provisions of the Indenture and the Agreement. The Issuer, the Trustee, the Paying Agent, and the Remarketing Agent may deem and treat the person in whose name this Bond is registered on the registration books of the Issuer maintained by the Paying Agent as the absolute Registered Owner hereof for all purposes, whether or not this Bond is overdue, and neither the Issuer, the Trustee, the Paying Agent nor the Remarketing Agent shall be affected by any notice to the contrary. IT IS HEREBY CERTIFIED, RECITED AND REPRESENTED that the issuance of this Bond and the Bonds is duly authorized by law; that all acts, conditions and things required to exist and necessary to be done or performed precedent to and in the issuance of this Bond and the Bonds to render the same within lawful valid and binding have been properly done and performed and have happened in regular and due time, form and manner as required by law; that all acts, conditions and things necessary to be done or performed by the time periodIssuer or to have happened precedent to and in the execution and delivery of the Indenture and the Eighth Supplementary Agreement have been done and performed and have happened in regular and due form as required by law; that due provision has been made for the payment of the principal of and premium, if any, and interest on this Bond and the Bonds by irrevocably assigning the described Revenues as provided in the Guaranty (each, a “Guaranty Default”)Indenture; upon that payment in full for the occurrence Bonds has been received; and that the issuance of the Bonds does not contravene or violate any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leaseconstitutional or statutory limitation.

Appears in 1 contract

Samples: Trust Indenture (Alabama Power Co)

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) business days after written notice claiming lease Default from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two three (23) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third fourth such occasion and on each occasion thereafter on which Tenant shall fail fails to pay an installment of Rent on the date such installment of Rent is due, Landlord . Tenant shall only be relieved from entitled to a two (2) business day cure period following Landlord’s delivery of any obligation notice of any further failure to provide notice to Tenantpay Rent on the date when such payment is initially due, and Tenant shall then no longer have a ten five (105) business day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 90 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord’s election, (c) if Tenant vacates the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases Term and is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided otherwise in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.

Appears in 1 contract

Samples: Industrial Building Lease (Cyberoptics Corp)

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Default------------------- default by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s 's delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s 's original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; or (c) Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseTerm.

Appears in 1 contract

Samples: Data Call Technologies

Default Provisions. In addition the event of a failure of NBI to make any Default arising under Section 20.1 above------------------ payment provided in paragraph 1. hereof, each an event of the following default shall constitute a Default: have occurred fifteen (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (1015) days after written notice and demand from Landlord IRS to NBI in respect of such payment unless NBI has previously (a) cured the default by payment of the amount due, or (b) given written notice to IRS that it disputes the existence of the default with a recitation of the reasons why, with supporting documentation. In the event of a failure of NBI to take any other action required by this Agreement, an event of default shall have occurred thirty (30) days after written notice and demand from IRS to NBI in respect of such failure to pay on unless NBI had previously (a) cured the due date; provideddefault, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, given written notice to timely comply with, or satisfy, any or all IRS that it disputes the existence of the obligations imposed on Tenant default with a recitation of the reasons why, with supporting documentation. In the event of a continuing event of default, IRS may by written notice to NBI declare the Remaining Principal Amount due and payable and interest thereon at the statutory rate provided under the Internal Revenue Code since the last interest payment made by NBI under the Original Agreement, and the IRS shall be entitled to pursue its remedies. Nothing herein shall limit the rights and remedies of the IRS or NBI with respect to post-effective date taxes. In the event of a dispute over the existence of an event of default and the inability of the parties to resolve such a dispute within twenty (20) days after NBI gives written notice that such dispute exists, the parties jointly or separately must submit the dispute to the United States Bankruptcy Court for the District of Colorado for adjudication within fifteen (15) days of the expiration of the twenty (20) day resolution period. Such submission will not relieve the parties of any continuing obligation under this Lease (other than Agreement which might arise following such submission unless such obligation is the obligation subject of the dispute. Failure of the party disputing the existence of an event of default to pay Rent) for a make such submission to the court within the referenced time period will constitute an admission of 30 days after Landlord’s delivery to Tenant default and trigger the remedies available. In the event NBI incurs undisputed post-petition Federal Tax Liabilities, an event of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences Agreement shall have occurred fifteen (15) days after written notice and diligently pursues a cure demand from IRS to NBI for payment of such default promptly within undisputed liabilities unless NBI has previously (a) paid the initial 30 day cure periodundisputed liability, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice with undisputed interest and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time periodpenalties, if any, provided in or (b) given written notice to IRS that it disputes the Guaranty (eachexistence of the default, with a “Guaranty Default”); upon recitation of the occurrence reasons why, with supporting documentation. In the case of any Guaranty Defaultan event of default or a dispute, there the provisions of the preceding paragraph shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leaseapply.

Appears in 1 contract

Samples: Amended Payment Agreement (Nbi Inc)

Default Provisions. In addition Default. The following are Events of Default under the Note, the Warrant, and any other document related to any Default arising under Section 20.1 above, each of the following shall constitute a Defaulttransactions contemplated by Securities Purchase Agreement: (ai) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, Borrower shall fail to pay any installment of Rent on principal under the date such installment of Rent is due, then, on Note when due and payable (or payable by conversion) thereunder; or (ii) the third such occasion and on each occasion thereafter on which Tenant Borrower shall fail to pay an installment any interest or any other amount under the Note when due and payable (or payable by conversion) thereunder; or (iii) the Borrower shall fail to pay any amount under the Warrant when due and payable (or payable upon exercise) thereunder; or (iv) the Company shall fail to honor its obligations under the Securities Purchase Agreement, any other document related to the Securities Purchase Agreement; or any other written agreement between the Company and the Purchaser; or (v) any representation of Rent on the date Company under Representations and Warranties Agreement was untrue at the time it was made or the Company shall fail to honor any warranty made by the Company under such installment Representations and Warranties Agreement; or (vi) a receiver, trustee or other similar official shall be appointed over the Borrower or a material part of Rent is its assets; or (vii) the Borrower shall become insolvent or generally fails to pay, or admits in writing its inability to pay, its debts as they become due, Landlord subject to applicable grace periods, if any; or (viii) the Borrower shall make a general assignment for the benefit of creditors; or (ix) the Borrower shall file a petition for relief under any bankruptcy, insolvency or similar law (domestic or foreign); or (x) an involuntary proceeding shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten commenced or filed against the Borrower; or (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (cxi) the occurrence of a default under any or all of the leases scheduled on Exhibit D (Borrower shall lose its ability to electronically transfer shares by Other Leases”), which default under one or more of the Other Leases DWAC/FAST” transfer and such loss is not cured on within 30 days; or (xii) the Borrower shall lose its status as “DTC Eligible”; or the Borrower’s stockholders shall lose the ability to deposit (either electronically or by physical certificates, or otherwise) shares into the DTC System and such loss is not cured within 30 days; or (xiii) the Borrower shall become late or delinquent in its filing requirements (a timely basisfiling before the expiration of a valid extension of time to file is not delinquent) as a fully-reporting issuer registered with the Securities & Exchange Commission. COMPANY / BORROWER: LITHIUM EXPLORATION GROUP, pursuant INC. By: /s/ Xxxxxxxxx Xxxxx Xxxxxxxxx Xxxxx President LENDER/HOLDER: /s/ Xxxx Xxxxxx Xxxx Xxxxxx, President JDF Capital Inc. REPRESENTATIONS AND WARRANTIES AGREEMENT These Representations and Warranties apply to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith Securities Purchase Agreement (the “GuarantyAgreement”) dated as of February 19, 2013, between Lithium Exploration Group, Inc., a Nevada corporation (the “Company”) and JDF Capital Inc., (the “Purchaser”), and fails to cure same within . All capitalized terms not otherwise defined herein shall have the time period, if any, provided meanings given such terms in the Guaranty Agreement. The Company represents and warrants to the Purchaser, as of the date of the Agreement (eachunless otherwise stated), a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.as follows:

Appears in 1 contract

Samples: Securities Purchase Agreement (Lithium Exploration Group, Inc.)

Default Provisions. 1. BUILDER’s default – Cancellation by the BUYER The payments made by the BUYER prior to the delivery of the VESSEL shall be by way of advances to the BUILDER. In addition the event that the BUYER shall exercise its right of cancellation of this Contract under and pursuant to any Default arising of the provisions of this Contract specifically permitting the BUYER to do so, then the BUYER shall notify the BUILDER in writing by telefax confirmed by registered mail, and such cancellation shall be effective as of the date notice thereof is received by the BUILDER. Upon such cancellation the BUILDER shall promptly either accept the notice of cancellation or declare its intention to proceed to dispute same under Section 20.1 abovethe Provisions of Article XIX hereof. If cancellation is accepted, the BUILDER shall refund to the BUYER all sums paid by the BUYER to the BUILDER under Article II hereof, including interest thereon, from the date of payment to the date of refund at the rate of interest set out in Article II, Clause 3. The BUILDER shall also make available for the BUYER the Buyer’s Supply paid for by the BUYER, or if they cannot be returned, the BUILDER shall pay to the BUYER an amount equal to the BUYER’s costs for such equipment. If the cancellation is disputed by the BUILDER under the Provisions of Article XIXI hereof, the BUILDER shall have no obligation to return any amount until a final arbitration award is obtained in favour of the BUYER, expressly stating the amount to be refunded to the BUYER by the BUILDER. Upon acceptance by the BUILDER to the BUYER of the notice of cancellation and refund as aforesaid in this Article XI, Clause. 1, all obligations, duties and liabilities of each of the following shall constitute a Default: (a) if Tenant fails Parties hereto to pay Rent or any the other payment when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord under this Contract shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as forthwith completely discharged. If the BUILDER is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; ratherdeclared bankrupt, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; BUYER may cancel the Contract and (d) Guarantor defaults under any or all of claim compensation for its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leaselosses.

Appears in 1 contract

Samples: www.sec.gov

Default Provisions. In addition to any Default arising under Section 20.1 above, each 5A.3 The following provision may be inserted as a separate provision in the Subscription Agreement (usually as a sub-clause of the following clause entitled "Issue of the Notes" or "Agreement by the Managers" or other) but instructions from the Lead Managers should be sought before it is included. Some Lead Managers may prefer not to include this wording as it obliges them to take up some of the Defaulted Notes (up to the 10% overall threshold), which goes against the concept of a "several only" underwriting. September 2018 [ ] Default [ ] If any of the Managers shall, prior to the time at which the Settlement Lead Manager pays or causes to be paid the net subscription moneys for the Notes9, fail to, or indicate that it does not intend to, subscribe and pay for any of the Notes agreed to be subscribed and paid for by such Manager under this Agreement (the “Defaulted Notes”), and such failure or indication shall constitute a Default: (a) if Tenant fails default in the performance of its obligations under this Agreement, the remaining Managers shall be obligated severally to take up and pay Rent or any other payment when due for the Defaulted Notes, and such Defaulted Notes shall be allotted for subscription among the remaining Managers in the proportions that their respective underwriting obligations hereunder within ten (10) days after written notice from Landlord bear to the underwriting obligations of such failure to pay on the due dateall non-defaulting Managers; provided, however, that, in the event that if in any consecutive 12 month periodthe aggregate principal amount of Defaulted Notes exceeds 10 per cent. of the aggregate principal amount of the Notes, Tenant shallthe remaining Managers shall have the right to purchase all, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant but shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall not be relieved from under any obligation to provide notice to Tenantpurchase any, of the Defaulted Notes, and Tenant shall then no longer have a ten (10) day period in which if such non-defaulting Managers do not purchase all the Defaulted Notes, this Agreement and the AAM will terminate without liability to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under non-defaulting Managers [,/or] the Issuer [or the Guarantor]. [ ] Any Defaulted Notes subscribed in accordance with this Lease (other than Clause [ ] shall be subscribed at the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, price that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all would have been payable in respect of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of Defaulted Notes by the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.relevant defaulting

Appears in 1 contract

Samples: The Agreement

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Defaultdefault by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 twelve (12) month period, Tenant shall, on two three (23) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third (3rd) such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten five (105) day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s 's delivery to Tenant of written notice of such default under this Section 20.2(bsubsection 21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 sixty (60) days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease's notice; or (c) Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under Term. Except for notices expressly provided for in this Lease; and (d) Guarantor defaults under , Tenant hereby waives all notices of any or all of its obligations under that certain Guaranty of Leasenature, dated of even date herewith (the “Guaranty”)including, and fails to cure same within the time period, if any, provided in the Guaranty (eachwithout limitation, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leasequit.

Appears in 1 contract

Samples: Intest Corp

Default Provisions. In addition to any Default arising under Section 20.1 above, each (a) Any of the following occurrences or acts shall constitute a an "Event of Default" under this Lease: (ai) if Tenant fails Lessee's failure to (1) pay any Basic Rent, Additional Rent or any other payment when due sum required to be paid by Lessee hereunder within and such failure shall continue for ten (10) days after written notice from Landlord to Lessee of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two or (2) separate occasionsobserve or perform any other provision hereof and such failure shall continue for thirty days after notice to Lessee of such failure (provided, fail that in the case of any such default which cannot be cured by the payment of money and cannot with diligence be cured within such thirty-day period, if Lessee shall commence promptly to cure the same and thereafter prosecute such cure with diligence, the time within which such default may be cured shall be extended for such period as is necessary to complete such cure with diligence); or (ii) the filing by Lessee of a petition in bankruptcy or for reorganization or for an arrangement pursuant to any federal or state bankruptcy law or any similar federal or state law; or (iii) Lessee shall be granted relief under the Bankruptcy Code or become insolvent or shall make an assignment for the benefit of creditors or become unable to pay any installment of Rent on the date such installment of Rent is its debts generally as they become due, then, on or if a petition or answer proposing relief under the third such occasion and on each occasion thereafter on which Tenant shall fail Bankruptcy Code be filed against the Lessee or proposing its reorganization pursuant to pay an installment of Rent on the date such installment of Rent is due, Landlord any federal or state bankruptcy law or any similar federal or state law shall be relieved from filed in any obligation court and Lessee shall consent to provide notice to Tenantor acquiesce in the filing thereof or such petition or answer shall not be discharged or denied within ninety days after the filing thereof; or (iv) the appointment of a receiver, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action trustee or inaction, to timely comply with, liquidator of Lessee or satisfy, any of all or substantially all of the obligations imposed on Tenant under this Lease assets of Lessee or of the Premises or Lessee's estate therein in any proceeding brought by Lessee, or if any such receiver, trustee or liquidator shall be appointed in any proceeding brought against Lessee and shall not be discharged within ninety days after such appointment, or if Lessee shall consent to or acquiesce in such appointment; or (other than v) if the obligation to pay Rent) Premises shall have been left unoccupied and unattended for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b)thirty days; provided, however, that or (vi) if any representation or warranty made by the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord Lessee herein shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed prove to be a “Default” for purposes of this Lease; (c) the occurrence of a default under or have been untrue in any or all material respect as of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more date of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leasemaking thereof.

Appears in 1 contract

Samples: Operating Lease (Land O Lakes Inc)

Default Provisions. In addition to any Default arising under Section 20.1 21.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 twelve (12) month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 ninety (90) days after the initial delivery of Landlord’s original default notice notice; and, at Landlord’s election, and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there it shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence an automatic Event of an Other Lease Default shall immediately constitute a Default under this Lease; Lease (for which no notice or cure period shall be required) in the event that (i) Tenant transfers all of some portion of its assets to another party, regardless of a.) the nature of the assets and b.) whether that transferee is an affiliate of Tenant or an unrelated third party, and (dii) Guarantor defaults under any as a result (directly or all indirectly) of its such transfer, Tenant no longer has sufficient assets to permit Tenant to timely and fully satisfy the obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default monetary or otherwise) imposed on it under this Lease.

Appears in 1 contract

Samples: Letter (Clearfield, Inc.)

AutoNDA by SimpleDocs

Default Provisions. In addition to any Default arising under Section 20.1 22.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) 5 business days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) 5 business day period in which to cure any such failurefailure or if Tenant fails to pay when due any amounts required to be paid by Tenant pursuant to Exhibit B of this Lease; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the material obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b22.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 23 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord’s election, (c) if Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseTerm.

Appears in 1 contract

Samples: Office Facility Lease (I Trax Inc)

Default Provisions. In addition to any Default arising under Section 20.1 21.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 120 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord’s election; or (c) the occurrence of a after execution thereof by Tenant, any default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, by Tenant pursuant to that certain Business Subsidy Agreement, as amended, by and between Tenant and the terms of City or that certain Tri-Party Agreement, as amended, by and among the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; ratherCity, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; Landlord and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseTenant.

Appears in 1 contract

Samples: Acceptance Agreement (Cybex International Inc)

Default Provisions. In addition to any Default arising under Section 20.1 above, each the event of the failure or refusal of Purchaser to close this transaction in violation of the terms of this Agreement, without fault on Seller’s part and without failure of title or any conditions precedent to Purchaser’s obligations hereunder, Seller, as its sole and exclusive remedy, shall have the right to terminate this Agreement, whereupon Purchaser shall pay Seller liquidated damages in the amount of One Thousand and No/100 Dollars ($100,000.00), and the parties shall be relieved of all further obligations and liability hereunder. In no event shall Purchaser be liable to Seller for any damages hereunder or in connection herewith as a result of Purchaser’s default, or otherwise, other than the payment expressly stated herein following a termination of this Agreement due to Purchaser’s failure or refusal to close in violation of the terms of this Agreement. In the event of a default by Seller under this Agreement, Purchaser at its option shall constitute a Defaulthave the right to: (ai) if Tenant fails terminate this Agreement, in which event (A) Seller shall reimburse Purchaser for Purchaser’s actual out-of-pocket costs and expenses (including reasonable attorneys’ fees, costs and disbursements) related to pay Rent or the negotiation of this Agreement and the transactions contemplated hereby and Purchaser’s due diligence, up to a maximum of One Hundred Thousand and 00/100 Dollars ($100,000.00), and (B) the parties shall be discharged from all duties and performance hereunder, except for any obligations which by their terms survive any termination of this Agreement, or, alternatively, (ii) seek specific performance (and/or any other payment when due hereunder within ten (10equitable remedies) days after written notice from Landlord of such failure to pay on the due date; providedSeller’s obligations hereunder, however, that if specific performance is not available as a remedy, Purchaser shall have the right to pursue an action against Seller for damages, including without limitation all of its out-of-pocket costs and expenses (including reasonable attorneys’ fees, costs and disbursements) related to the negotiation of this Agreement and the transactions contemplated hereby and Purchaser’s due diligence, up to a maximum of One Hundred Thousand and 00/100 Dollars ($100,000.00). Notwithstanding the foregoing, in the event of a default by either party of any consecutive 12 month periodobligations which specifically survive Closing, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on then the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord non-defaulting party shall be relieved from entitled to seek any obligation legal redress permitted by law or equity. The provisions hereof shall survive Closing. Notwithstanding anything to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below the contrary contained in this Section 20.2Agreement, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of no default shall be declared unless the obligations imposed on Tenant under this Lease (other than non-defaulting party has given the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of defaulting party written notice as to the existence of such default under this Section 20.2(b); provided, however, that if and the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a defaulting party has failed to cure of such default promptly within the initial 30 day cure periodfive (5) days thereafter, then, as long as Tenant continues except for a failure to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leaseclose.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Optibase LTD)

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a an "Event of Default" by Tenant under this Lease: (a) if Tenant fails to pay Net Base Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure the delinquency thereof; or (b) if Tenant fails to pay on Additional Rent or any other sum due to Landlord within fifteen (15) days after written notice from Landlord with respect to the due date; delinquency thereof, provided, however, that if and to the extent that Tenant fails to pay Rent or any other payment required hereunder when due hereunder more than twice in any consecutive 12 twelve (12) month period, Tenant shall, on Landlord shall have no obligation whatsoever for a period of two (2) separate occasionsyears after the latter of such two delinquencies to provide (x) any written notice to Tenant of any further delinquency or (y) any grace period with respect to Net Base Rent, fail to pay Additional Rent or any installment other sum due hereunder, and, after the expiration of Rent on the date any such installment of Rent is duetwo (2) year period, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail again be entitled to pay an installment of Rent on written notice and the date such installment of Rent is due, Landlord shall be relieved from above described grace period for up to two (2) delinquencies in any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten consecutive twelve (1012) day period in which to cure any such failuremonth period; or (bc) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply in any material respect with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s Xxxxxxxx's delivery to Tenant of written notice of such default under this Section 20.2(bsubsection 20.2(c); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then, as long as Tenant period and thereafter continues to diligently pursue such a cure to completioncure, then Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 one hundred eighty (180) days after the Xxxxxxxx's initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all notice of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leasesuch default.

Appears in 1 contract

Samples: Golden Books Family Entertainment Inc

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Defaultdefault by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) three separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; or (c) Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseTerm.

Appears in 1 contract

Samples: Bway Corp

Default Provisions. In addition to any Default arising under Section 20.1 21.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 twelve (12) month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten five (105) day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s delivery to Tenant of written notice of such default noncompliance or failure to satisfy under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then, as long as Tenant continues then such Tenant’s failure to diligently pursue such a cure to completion, comply shall not constitute an Event of Default and Landlord shall not exercise its remedies under Section 21 22 unless such default noncompliance remains uncured for more than 270 sixty (60) days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”)and, which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leaseat Landlord’s election. 22.

Appears in 1 contract

Samples: Disturbance Agreement (Seagen Inc.)

Default Provisions. In addition to any Default arising under Section 20.1 above21.1 above or elsewhere provided in this Lease, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 twelve (12) month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 sixty (60) days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”)and, which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leaseat Landlord’s election.

Appears in 1 contract

Samples: Water Now, Inc.

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Defaultdefault by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s 's delivery to Tenant of written notice of such default under this Section 20.2(bSECTION 21.2(B); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 SECTION 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s 's original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; or (c) Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseTerm.

Appears in 1 contract

Samples: Vascular Solutions Inc

Default Provisions. In addition to any Default arising under Section 20.1 21.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 twelve (12) month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten five (105) day period in which to cure any such failure; and (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but then Landlord shall not exercise its remedies under Section 22 if Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure periodperiod until such default has been cured. Notwithstanding the foregoing sentence, then, as long as if Tenant continues to diligently pursue such does not obtain a cure to completion, Landlord shall not exercise its remedies under Section 21 unless of such default remains uncured for more than 270 within ninety (90) days after from the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”)notice, which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there then Landlord shall be no notice required permitted to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default exercise its remedies under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this LeaseSection 22.

Appears in 1 contract

Samples: Mq Associates Inc

Default Provisions. In addition to any Default arising under Section 20.1 21.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 twelve (12) month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 ninety (90) days after the initial delivery of Landlord’s original default notice notice; and, at Landlord’s election, and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there it shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence an automatic Event of an Other Lease Default shall immediately constitute a Default under this Lease; Lease (for which no notice or cure period shall be required) in the event that (i) Tenant transfers all of some portion of its assets to another party, regardless of a.) the nature of the assets and b.) whether that transferee is an affiliate of Tenant or an unrelated third party, and (dii) Guarantor defaults under any as a result (directly or all indirectly) of its such transfer, Tenant no longer has sufficient assets to permit Tenant to timely and fully satisfy the obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default monetary or otherwise) imposed on it under this Lease. 22.

Appears in 1 contract

Samples: www.sec.gov

Default Provisions. In addition to any Default arising under Section 20.1 above, each Each of the following shall constitute a Defaultdefault by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; or (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 60 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; or (c) Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), Term and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default pay Rent or otherwise comply with its obligations under this Lease.

Appears in 1 contract

Samples: Datalink Corp

Default Provisions. In addition to any Default arising under Section 20.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completioncure, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 120 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”)and, which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.at Landlord’s

Appears in 1 contract

Samples: Purchase and Sale Agreement (Lenox Group Inc)

Default Provisions. In addition If, during the term of this Lease, TENANT shall: (i) apply for or consent in writing to, the appointment of a receiver, trustee or liquidator of TENANT or of all or substantially all of its assets or (ii) seek relief under the Bankruptcy Act, or admit in writing its inability to pay its debts as they become due, or (iii) make a general assignment for the benefit of this creditors, or (iv) file a petition case or an answer seeking relief (other than a reorganization not involving the liabilities of TENANT) or arrangement with creditors, or take advantage of any Default arising under Section 20.1 aboveinsolvency law, each or (v) file and answer admitting the material allegations of a case filed against it in any bankruptcy, reorganization or insolvency proceeding or, if an order, judgement or decree shall be entered by any court of competent jurisdiction on the application of TENANT or creditor adjudicating TENANT a bankruptcy, reorganization or insolvency proceeding or, if an order, judgement or decree shall be entered by any court of competent jurisdiction on the application of TENANT or creditor adjudicating TENANT a bankrupt or insolvent, or approving a petition seeking reorganization of TENANT (other than a reorganization not involving the liabilities of TENANT) or appointment of a receiver, trustee or liquidator of TENANT, or decree, shall continue stayed and in effect for any period of sixty (60) consecutive days, the term of this Lease and all right, title and interest of TENANT hereunder shall expire as fully and completely as if that day were the date herein specifically fixed for the expiration of the following term, and TENANT hereunder shall constitute a Defaultexpire as fully and completely as if that day were the date herein specifically fixed for the expiration of the term, and TENANT will then quit and surrender the Premises to LANDLORD, but TENANT shall remain liable as hereinafter provided. If, during the term of this Lease: (aI) TENANT shall default in fulfilling any of the covenants of this Lease other than the covenants for the payment of rent or additional rent or of any other standing contract with LANDLORD or (ii) if, during the term of this Lease TENANT shall abandon, vacate, or remove form the Premises the major portion of the goods, wares, equipment, or furnishings usually kept on said premises, of (iii) this Lease, without the prior consent of LANDLORD, shall be encumbered, assigned or transferred in any manner in whole or in part or shall, by operation of law, pass to or devolve upon any third party, except as herein provided, or (iv0 if Tenant TENANT is in violation of laws rules and regulations regarding minimum wages of its employees, or of any other law, rules and regulations applicable to his operations, but which have not been specifically mentioned in this Lease, LANDLORD may give to TENANT notice of any such default or the happening of any event referred to above and if at the expiration of thirty (30) days after the service of such a notice the default or event upon which said notice was based shall continue to exist, or in the case of a default which cannot with due diligence be 19 cured within a period of thirty (30 days, if TENANT fails to pay Rent proceed promptly after the service of such notice and with all due diligence to cure the same and thereafter to prosecute the curing of such default with all due diligence (it being intended that in connection with a default not susceptible of being cured with due diligence within thirty (30) days that the time of TENANT within which to cure the same shall be extended for such period as may be necessary to complete the same with all due diligence), LANDLORD may give the TENANT a notice of expiration of the term of this Lease as of the date of the service of the term of this Lease and all right, title and interest of TENANT hereunder shall expire as full and completely as if that day were the date herein specifically fixed for the expiration of the term, and TENANT or any party holding under his will then quit and surrender the premises to LANDLORD, but TENANT shall remain liable as hereinafter provided. If, (i) TENANT shall default in the payment of the rent, the additional rent, or of any other payment when as required under this Lease and such default shall continue for ten (10) working days after notice thereof by LANDLORD, of (ii) if the default of the payment of the rent, continues for thirty (30) days from the date any such payment became due hereunder and payable (AUTOMATIC DEFAULT TERMINATION), OR (III) IF THIS Lease shall terminate as in Paragraph one and two of this Article provided, this Lease shall terminate and TENANT will then quit and surrender the Premises to LANDLORD or LANDLORD'S agents and servants may immediately or ant any time thereafter re-enter the Premises and remove all persons and all or any property therefrom, whether by summary dispossess proceedings or by any suitable action or proceeding at law, or with the license and permission of TENANT, which shall under this Contract be deemed given upon expiration of the strict thirty (30) days notice period of subdivision of paragraph Two of the Article, without LANDLORD being liable to indictment, prosecution or damages therefor and repossess and enjoy the Premises with all additions, alterations and improvements. If TENANT shall fail to take possession of the Premises within ten (10) days after written the commencement of the term of this Lease, or if TENANT shall vacate and abandon the Premises, LANDLORD shall have the right, at LANDLORD'S option, to terminate this Lease and the term hereof, as well as all the right, title and interest of TENANT hereunder, by giving TENANT five (5) days notice from Landlord in writing of such failure intention, and upon the expiration of the time fixed in such latter notice, if such default be not cured prior thereto, this lease and the term hereof, as well as all the right, title and interest of TENANT hereunder, shall wholly cease and expire in the same manner and with the same force and effect (except as to pay TENANT'S liability) as if the date fixed by such latter notice were the expiration of the term herein originally granted; and TENANT shall immediately quit and surrender to LANDLORD the Premises and each and every part thereof and LANDLORD in this Article or any other Article of this Lease to terminate this Lease, the exercise of any such right by LANDLORD during the term hereby granted, shall terminate any extension or renewal of the term hereby granted and any right on the due date; providedpart to TENANT thereto. Upon the termination of this Lease by reason of any of the foregoing event, howeveror in the event of the termination of this Lease by summary dispossess proceedings or under any provisions of law, that if now or at any time hereafter, in force by reason of , or based upon, or arising out of a default under or breach of this Lease on the part of TENANT, or upon LANDLORD recovering possession of the premises in the manner or in any consecutive 12 month periodof the circumstances whatsoever, Tenant shallwhether with or without legal proceedings, on two (2) separate occasionsby reason of, fail to pay any installment or based upon, or arising our of Rent a default under or breach of this Lease on the date such installment of Rent is duepart to TENANT, thenLANDLORD, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is dueat its option, Landlord shall be relieved from but without assuming any obligation to provide notice to Tenantdo so in any case, may at any time, and Tenant shall then no from time to time, relet the Premises or any part or parts thereof for the account of TENANT or otherwise on such terms as LANDLORD may elect, including the granting of concessions, and receive and collect the rents therefor, applying the same at a rental not higher than the one stipulated in this Contract, first to the payment of such reasonable expenses as LANDLORD may have incurred in recovering possession of the Premises, including reasonable legal expenses, and for putting the same into good order or condition or preparing or altering the same for re-rental, and expenses, commissions and charges paid, assumed, or incurred by LANDLORD in and about the reletting of covenants of TENANT hereunder. Any such reletting herein provided for, may be for the remainder of the term of this Lease or for a longer have or shorter period or at a ten (10) day period in which to cure higher or lower rental. In any such failure; (b) except case, whether or not, the Premises or any part thereof be relet, TENANT shall pay to LANDLORD the rent required to be paid by TENANT up to the time of such termination of this Lease, and/or the full rent provided for in the agreement for any holdover of such period after termination and up to the surrender or recovery of possession of the Premises by LANDLORD, as is otherwise provided below the case may be, and thereafter TENANT covenants and agrees, to pay to LANDLORD until the end of the term of this Lease as originally demised the equivalent of any deficiency amount of all the rent reserved herein, less the net avails of reletting, if any, as specified hereinabove in this Section 20.2Article and the same shall be due and payable by TENANT to LANDLORD as provided herein, if Tenant failsthat is to say, whether by action or inaction, TENANT shall pay to timely comply with, or satisfy, LANDLORD the amount of any or all deficiency then existing. FORTY ONE: LANDLORD'S Remedies -- In the event TENANT shall default in the performance of any of the obligations imposed on Tenant under this Lease (other than terms, covenants or provisions herein contained, LANDLORD may, but without the obligation to pay Rent) do so, perform the same for a period the account of 30 days after Landlord’s delivery to Tenant TENANT and any amount paid or expense incurred by LANDLORD in the performance of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall be repaid by TENANT on demand. In the event of a breach or threatened breach by TENANT of any of the covenants, conditions or provisions hereof, LANDLORD shall have the right of injunction to restrain the same, and the right to invoke any remedy allowed by law or in equity as if specific remedies, indemnity or reimbursement were not herein provided for. The rights and remedies given to LANDLORD in this Lease are distinct, separate and cumulative, and no one of them, whether or not exercised by LANDLORD, shall be deemed to be a “Default” for purposes waiver, or an exclusion of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more others. FORTY TWO: Notice of the Other Leases is not cured on a timely basis, pursuant Default -- Anything in this Lease to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Defaultcontrary notwithstanding, it is specifically agreed that there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults enforceable default against LANDLORD under any provisions of this lease, unless notice of such default be given by TENANT to LANDLORD in which TENANT shall specify the default or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”)omission complained of, and fails LANDLORD shall have thirty (30) days after receipt of such notice in which to remedy such default, or if said default or omission shall be of such a nature that the same cannot be cured within said period, then the same shall not be an enforceable default if LANDLORD shall have commenced taking the necessary steps to cure same or remedy said default within the time period, if any, provided in said thirty (30) days and diligently proceeds with the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.correction therof. 22

Appears in 1 contract

Samples: Dunn Computer Corp

Default Provisions. In addition LESSEE’s failure to comply with any Default arising under Section 20.1 above, each of the following provisions or conditions of this Lease, or violation of any Rules or Regulations established for the LESSOR, shall constitute a Default: (a) if Tenant fails be cause for termination of this Lease agreement. In the event of such an occurrence, except for ipso facto default matters, i.e., failure to pay Rent the rent when due, failure to pay those costs or any other payment when due hereunder within charges indicated elsewhere in this Lease, and failure to keep on file with LESSOR proper insurance certificates, LESSOR shall give LESSEE notice in writing, setting forth the nature of the breach committed by LESSEE. LESSEE shall have ten (10) days after written from the date of said notice from Landlord of such to remedy the breach set forth in said notice. Upon LESSEE’s failure to pay on the due date; providedtimely remedy any such breach, howeverLESSOR may, that if in any consecutive 12 month periodat its option, Tenant shallterminate this Lease, on two (2) separate occasions, fail to pay any installment reserving unto LESSOR all rights against LESSEE for breach of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenantthis Lease, and Tenant shall then no longer have to collect any sums due or retain any sum paid hereunder, until such time as a new lease for the slip is executed on terms equal to those set forth herein is effective. LESSEE expressly agrees that the LESSOR will suffer damage as a result of any breach of this Lease by LESSEE, whether said breach is cured or not within the ten (10) day period in which grace period, and, accordingly, LESSEE consents and agrees to cure any such failure; pay an administrative fee equal to one (b1) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant quarterly rental payment due under this Lease (other than in the obligation event of any such default. Failure to pay Rent) for a period said fee shall constitute an additional default and LESSOR shall have the option of 30 days after Landlord’s delivery canceling this lease without further notice orformality. In addition to Tenant of written notice of such default any and all rights granted to LESSOR under this Section 20.2(b); provided, however, that if Lease in the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence event of a default by LESSEE, LESSOR shall be entitled to exercise any and all rights upon a default by LESSEE authorized under any existing law or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be law hereinafter enacted providing for remedies available to Tenant hereunder; rathera LESSOR upon default by a LESSEE. In the event of default, the occurrence of an Other Lease Default Lessor shall immediately constitute have a Default under this Lease; privilege on Lessee's vessel for rent or other charges and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.for

Appears in 1 contract

Samples: www.marinasinneworleans.com

Default Provisions. In addition to any Bankruptcy Default arising under Section 20.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 twelve (12) month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b)Section; provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 any Landlord Remedies (as hereinafter defined) unless such default remains uncured for more than 270 sixty (60) days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord’s election; (c) if Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D Term; (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(sd) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there . It shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence an automatic Event of an Other Lease Default shall immediately constitute a Default under this Lease; and Lease (dfor which no notice or cure period shall be required) Guarantor defaults under any or all of in the event that Tenant violates its obligations under that certain Guaranty Section 8 of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.

Appears in 1 contract

Samples: NANOPHASE TECHNOLOGIES Corp

Default Provisions. In addition to If, during the term of this Lease, default shall be made in the due and punctual payment of any Default arising rent or any additional rent or Impositions payable under Section 20.1 abovethis Lease, each when and as the same shall become due and payable, and such default shall continue for a period of thirty (30) days after written notice, or if default by the Tenant shall be made in the performance or compliance with any of the following covenants, agreements, terms, or conditions contained in this Lease other than those referred to above in this paragraph and such default shall constitute continue for a Default: period of thirty (a30) if days after written notice thereof from the Landlord to Tenant, or in the case of default or contingency which cannot with due diligence be cured within such period of thirty (30) days the Tenant fails to pay Rent proceed with all due diligence to cure the same and thereafter to prosecute the curing of such default with all due diligence (it being intended that in connection with a default not susceptible of being cured with due diligence within thirty days that the time of Tenant within which to cure the same shall be extended for such period as may be necessary to complete the same with all due diligence); or If the Tenant shall file a voluntary petition in bankruptcy or shall be adjudicated a bankrupt or insolvent, or shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other payment when due hereunder present or future applicable federal, state or other statute or law or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties or of the demised premises or if within thirty (30) days after the commencement of any proceeding against Tenant seeking any such reorganization, arrangement, readjustment, liquidation, dissolution or similar relief, such proceeding shall not have been dismissed, or if within thirty (30) days after the appointment without the consent or acquiescence of Tenant of any Trustee, receiver or liquidator of Tenant or all or any substantial part of its properties or of the demised premises, such appointment shall not have been vacated or stayed or appealed or otherwise, or if within thirty (30) days after the expiration of any such stay, such appointment shall not have been vacated, then and in any such of the events hereinabove set forth Landlord at any time thereafter may give written notice to Tenant specifying any event or events of default and stating that this Lease and the term hereby demised shall expire and terminate on the day specified in the notice, which shall be at least ten (10) days after written notice from Landlord the giving of such failure notice and upon the date specified in such notice, this Lease and the term hereby demised and all rights of the Tenant under this Lease shall expire and terminate and Tenant shall remain liable as hereinafter set forth. Upon any such expiration or termination of this Lease due to pay on any of the due date; provided, however, that if in provisions herein or any consecutive 12 month periodtermination by summary proceedings or otherwise, Tenant shallshall quit and peacefully return the demised premises and the then building thereon to the Landlord without any payment therefor by Landlord and Landlord upon, on two (2) separate occasionsor at any time after any such expiration or termination may, fail without further notice, enter upon and re-enter the demised premises, possess and repossess itself thereof by force, summary proceedings, ejectment or otherwise and may dispossess Tenant and remove Tenant and all other persons and property from the demised premises and may have, hold and enjoy the demised premises and the building thereon and the right to pay receive all rental income of and from the same. At any installment of Rent on time or from time to time after any such expiration or termination pursuant to the date such installment of Rent is duepreceding paragraphs hereof, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is dueor any other termination by summary proceedings or otherwise, Landlord shall be relieved free to relet the demised premises or any part thereof in the name of the Landlord or otherwise for such terms or terms which may be greater or less than the period which would otherwise be constituting the balance of the term of this Lease, and all such conditions, which may include concessions of free rent, as Landlord, in its uncontrolled discretion, may determine, and may collect and receive the rents thereof. Landlord shall, in no way, be responsible or liable for any failure to relet the demised premises or any part thereof or any failure to collect any rent due upon any such reletting. No expiration or termination of this Lease, pursuant to any of the paragraphs of this Article or any termination by summary proceedings or otherwise, shall relieve Tenant of its liability and obligation under this Lease and such liability and obligation shall survive any such expiration or termination. In the event of any expiration or termination, whether or not the demised premises or any part thereof have been relet, Tenant shall pay to the Landlord the net rent and all other charges required to be paid by Tenant to the time of such expiration or termination of this Lease, and thereafter Tenant, until the end of what would have been the term of this Lease in the absence of such expiration or termination, shall be liable to Landlord for, and shall pay to Landlord, as and for liquidated and current damages for Tenant's default the equivalent of the amount of the rents, additional rents, charges and Impositions which would be payable under this Lease by Tenant, if this Lease were still in effect, less the net proceeds of any reletting effected pursuant to the provisions of a paragraph of this Article, after deducting all Landlord's expenses in connection with such reletting, including, without limitation, all repossession costs, brokerage and management commissions, operating expenses, legal expenses, reasonable attorney's fees, alteration costs and expenses of preparation of such reletting. Tenant shall pay such current damages (herein called "deficiency") to Landlord monthly on the 1st day of each month as the same would have been payable under this Lease if this Lease were still in effect, and Landlord shall be entitled to recover from Tenant any obligation monthly deficiency as the same shall arise. At any time after such expiration or termination, whether or not Landlord shall have collected any monthly deficiency as aforesaid, Landlord as its option, shall be entitled to provide notice to recover from Tenant, and Tenant shall then pay to Landlord on demand, as and for liquidated and current final damages for Tenant's default, (a) an amount equal to the present worth of the rents reserved under this Lease from the date of such expiration and termination for what would be the natural unexpired term of this Lease as if the same had remained in force or (b), the fair market rental value of the demised premises for the same term. Tenant for itself and anyone having any interest in the leasehold, hereby expressly waives, so far as permitted by law, service of any notice of intention to re- enter provided for by statute or of the institution of legal proceedings to that end. Tenant also waives any and all right of redemption or re-entry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of re-entry or repossession by Landlord or in case of any expiration or termination of this Lease. The terms "enter", "re-enter", "entry", or "re-entry", as used in this Lease are not restricted to their technical legal meaning. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term or condition of this Lease or to fail to exercise any right or remedy consequent upon a breach thereof, and no longer have acceptance of full or partial rent during the continuation of such breach shall constitute a ten (10) day period in which to cure waiver of any such failure; breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by either party and no breach thereof, shall be waived, altered or modified except by a written instrument executed by the other party. No waiver or breach shall affect or alter this Lease, but each and every covenant, agreement, term and condition of this Lease shall continue in full force and effect with respect to any now existing or subsequent breach thereof. In the event of any breach or threatened breach by Tenant of any of the covenants, agreements, terms or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach or threatened breach and shall have the right to invoke any right or remedy allowed at law or in equity or by statute or otherwise, through re-entry, summary proceedings and other remedies which are provided for in this Lease. Each right and remedy of Landlord provided in this Article XIV shall be cumulative and shall be in addition to (a) every other right or remedy provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise, and (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether the exercise or beginning of any exercise by action or inaction, to timely comply with, or satisfy, Landlord of any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other rights or remedies provided for in this Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leasenow or hereafter existing at law or equity or by statute or otherwise.

Appears in 1 contract

Samples: American Technical Ceramics Corp

Default Provisions. In addition to any Default arising Tenant shall be in default under Section 20.1 above, each of the following shall constitute a Default: (a) this Lease if Tenant (A) fails to pay Rent any Basic Rent, Additional Charges or any other payment when due hereunder sum required under this Lease within ten seven (107) days after written notice from Landlord of that such failure payment is due; (B) fails to pay on the furnish any statement required under this Lease within fifteen (15) days after its due date; (C) fails to maintain any insurance required under this Lease; (D) abandons the Premises and fails to pay any rent due hereunder; (E) assigns, mortgages or encumbers this Lease or sublets all or any portion of the Premises in violation of Section 16; (F) files for relief under the United States Bankruptcy Code (the "Bankruptcy Code") or under any other state or federal bankruptcy or insolvency law, or files an assignment for the benefit of creditors, or if an involuntary proceeding under the Bankruptcy Code or under any other federal or state bankruptcy or insolvency law is commenced against Tenant; or (G) defaults in any other obligation under this Lease and such default is not remedied within fifteen (15) days after written notice of the default by Landlord or its agent; provided that, if any non-monetary default shall reasonably require more than fifteen (15) days to cure, Tenant shall be allowed such longer period, not to exceed forty-five (45) days from the date of Landlord's default notice to Tenant, as is necessary to effect such cure, so long as Tenant's efforts to cure are commenced within the aforesaid 15-day period and are diligently pursued to completion; and provided, howeverfurther, that if in any consecutive 12 month period, Tenant shall, on Tenant's failure to comply with the provisions of this Lease two (2) separate occasions, fail to pay times in any installment six (6) month period shall effect an immediate default (without the expiration of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day applicable cure period, then, as long as ) with respect to all subsequent failures by Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after comply with the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes provisions of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails Landlord thereupon may exercise any remedy set forth in Section 18 without affording Tenant any opportunity to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leasesuch default.

Appears in 1 contract

Samples: Lease Agreement (Harris Interactive Inc)

Default Provisions. In addition to any Default arising under Section 20.1 above, each 5A.3 The following provision may be inserted as a separate provision in the subscription agreement (usually as a sub‑clause of the following clause entitled "Issue of the Notes" or "Agreement by the Managers" or other) but instructions from the Lead Managers should be sought before it is included. Some Lead Managers may prefer not to include this wording as it obliges them to take up some of the Defaulted Notes (up to the 10% overall threshold), which goes against the concept of a "several only" underwriting. September 2018 [ ] Default [ ] If any of the Managers shall, prior to the time at which the Settlement Lead Manager pays or causes to be paid the net subscription moneys for the Notes9, fail to, or indicate that it does not intend to, subscribe and pay for any of the Notes agreed to be subscribed and paid for by such Manager under this Agreement (the “Defaulted Notes”), and such failure or indication shall constitute a Default: (a) if Tenant fails default in the performance of its obligations under this Agreement, the remaining Managers shall be obligated severally to take up and pay Rent or any other payment when due for the Defaulted Notes, and such Defaulted Notes shall be allotted for subscription among the remaining Managers in the proportions that their respective underwriting obligations hereunder within ten (10) days after written notice from Landlord bear to the underwriting obligations of such failure to pay on the due dateall non‑defaulting Managers; provided, however, that, in the event that if in any consecutive 12 month periodthe aggregate principal amount of Defaulted Notes exceeds 10 per cent. of the aggregate principal amount of the Notes, Tenant shallthe remaining Managers shall have the right to purchase all, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant but shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall not be relieved from under any obligation to provide notice to Tenantpurchase any, of the Defaulted Notes, and Tenant shall then no longer have a ten (10) day period in which if such non‑defaulting Managers do not purchase all the Defaulted Notes, this Agreement and the AAM will terminate without liability to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under non‑defaulting Managers [,/or] the Issuer [or the Guarantor]. [ ] Any Defaulted Notes subscribed in accordance with this Lease (other than Clause [ ] shall be subscribed at the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, price that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all would have been payable in respect of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of Defaulted Notes by the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.relevant defaulting

Appears in 1 contract

Samples: The Agreement

Default Provisions. In addition to any Default arising under Section 20.1 above, each If: (i) Tenant shall default in payment of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when rent due hereunder within and such default shall continue for a period of ten (10) days after the due date of the rent; or (ii) the Premises become deserted or stand vacant or are used for a purpose other than that stated in Article 1 herein; or (iii) Tenant be in default under any other covenant, agreement, obligations or condition of this Lease and fails to cure such default within thirty (30) days after written notice thereof from Landlord (of if such default shall be of such failure to pay on the due date; provided, however, a nature that if in any consecutive 12 month it cannot be cured completely within thirty (30) day period, Tenant shall not have properly commenced within such (30) day period and shall not thereafter proceed with reasonable diligence and good faith to remedy such default); (iv) Tenant shall file a voluntary petition in bankruptcy, reorganization or receivership, become insolvent, be adjudicated bankrupt, or make an assignment for the benefit of creditors, or if any involuntary petition in bankruptcy, reorganization or receivership is filed against Tenant and not dismissed within sixty (60) days, any such event shall, on two (2) separate occasionsat Landlord's option, fail constitute a default of Tenant hereunder and Landlord, at Landlord's option and without further notice to pay Tenant, which is hereby expressly waived, may at any installment of Rent on time declare this Lease terminated and this Lease shall expire as fully and completely as if that day were the date such installment herein originally fixed for the expiration of Rent is duethe term, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail quit and surrender the Premises to pay an installment Landlord, but Tenant shall nevertheless continue to remain liable hereunder. Landlord may at any time thereafter re-enter the Leased Premises and remove all persons and property therefrom by any suitable action or proceeding at law or in equity or by force or otherwise, without being liable for any prosecution thereof or any damages arising therefrom and repossess and enjoy the Leased Premises. Such re-entry shall not relieve Tenant of Rent on the obligation to make the rental payments required by this Lease at the time and in the manner provided herein. Upon such re-entry, Landlord may, but shall not be required to, repair, alter, remodel and/or change the character of the Leased Premises as Landlord may see fit and/or at any time relet the Premises in whole or in part for any period of time that Landlord elects, whether longer or shorter than the unexpired portion of the term of this Lease, as agent of Tenant, or otherwise, in the name of Landlord or of Tenant, as Landlord shall see fit, and Landlord may receive the rents therefor, applying the same first to the payment of such reasonable expenses as Landlord may have incurred in entering, dispossessing, reletting, repairing or altering the premises, and then to the fulfillment of the covenants of Tenant herein, including, but not limited to, the rental payments required hereunder, retaining any balances until the date the term of this Lease would otherwise have expired, as security for the payment of all obligations of Tenant which may arise and be unpaid during such installment of Rent is dueperiod. In attempting to relet the Leased Premises, Landlord shall be relieved from any obligation the sole judge as to provide notice to Tenant, whether or not a proposed Tenant is suitable and Tenant acceptable. Landlord shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its naturereceiving partial payments of rents in arrears, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” have waived any rights herein for purposes nonpayment of this Lease; (c) rent or for any other default on the occurrence of a default under any or all part of the leases scheduled on Exhibit D (“Other Leases”)Tenant. Should Landlord at any time terminate this Lease for any default, which default under one or more in addition to any other remedies it may have, it may recover from Tenant all damages it may incur of such default, including the cost of recovering the Premises, reasonable attorney's fees and the worth at the time of such termination of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time periodexcess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the Term over the then reasonable rental value over the remainder of the term, all of which amounts shall be immediately due and payable. The rights and remedies provided in the Guaranty (eachthis Article 17 shall be cumulative and shall be in addition to every other right provided in this Lease, a “Guaranty Default”); upon the occurrence at law or in equity. The exercise of any Guaranty Default, there right or remedy by Landlord hereunder shall be no notice required to be delivered hereunder, nor shall not preclude the simultaneous or later exercise by Landlord of any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under or all other rights or remedies provided in this Lease, at law or in equity.

Appears in 1 contract

Samples: Office Lease (Avalon Borden Companies Inc)

Default Provisions. In addition to any Default arising under Section 20.1 21.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten five (105) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 twelve (12) month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) five day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, then Landlord shall not exercise its remedies under Section 21 22 unless such default remains uncured for more than 270 sixty (60) days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Leasenotice; and, at Landlord’s election; (c) if Tenant vacates or abandons the occurrence of a default under any or all of Premises during the leases scheduled on Exhibit D Term; (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(sd) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there . It shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence an automatic Event of an Other Lease Default shall immediately constitute a Default under this Lease; Lease (for which no notice or cure period shall be required) in the event that (i) Tenant transfers all of some portion of its assets to another party, regardless of a.) the nature of the assets and b.) whether that transferee is an affiliate of Tenant or an unrelated third party, and (dii) Guarantor defaults under any as a result (directly or all indirectly) of its such transfer, Tenant no longer has sufficient assets to permit Tenant to timely and fully satisfy the obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default monetary or otherwise) imposed on it under this Lease.

Appears in 1 contract

Samples: CompoSecure, Inc.

Default Provisions. In addition to any Default arising under Section 20.1 above6.1 Any other provisions in this Lease notwithstanding, each of the following shall constitute a Default: if (ai) if Tenant fails to pay Rent any rent or any other payment when sum of money due hereunder within five (5) business days of its due date; or (ii) even if rent is current, Tenant either fails to initially use and occupy the Leased Premises for a period of 45 days or subsequently vacates the Leased Premises for a period of 45 days; or (iii) Tenant fails to observe or perform any of the other Tenant covenants or agreements herein contained, other than a default involving the payment of money, and such failure continues after written notice for more than thirty (30) days and such additional time, if any, as is reasonably necessary to cure such failure, provided that Tenant has diligently commenced to cure and is continuing to prosecute said cure to completion; or (iv) Tenant is in default under subparagraph 6.3; or (v) Tenant makes any assignment for the benefit of creditors; or (vi) Tenant commits an act of bankruptcy (and does not cure same within thirty (30) days after committing such act of bankruptcy) or files a petition or commences any proceeding under any bankruptcy or insolvency law; or (vii) a petition is filed or any proceeding is commenced against Tenant under any bankruptcy or insolvency law and such petition or proceeding is not dismissed within sixty (60) days; or (viii) Tenant is adjudicated a bankrupt; or (ix) Tenant by any act indicates its consent to, approval of or acquiescence in, or a court approves, a petition filed or proceeding commenced against Tenant under any bankruptcy or insolvency law; or (x) a receiver or other official is appointed for Tenant or for a substantial part of Tenant's assets or for Tenant's interest in this Lease; or (xi) any attachment or execution against a substantial part of Tenant's assets or of Tenant's interests in this Lease remains unstayed or undismissed for a period of more than twenty (20) days; or (xii) a substantial part of Tenant's assets or of Tenant's interest in this Lease is taken by legal process in any action against Tenant; and Landlord may, if the Landlord so elects, at any time thereafter, terminate this Lease and the tenancy created hereby, by giving ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if election to Tenant and/or Landlord may reenter the default cannotLeased Premises, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any summary proceedings or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”)otherwise, and fails may remove Tenant and all other persons and property from the Leased Premises, and may store such property from the Leased Premises, and may store such property in a public warehouse or elsewhere (at the cost of or the account of Tenant) with or without resort to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence legal process and without Landlord being deemed guilty of trespass or conversion or becoming liable for any Guaranty Default, there shall be no notice required loss or damage occasioned thereby or otherwise being liable to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Leaseprosecution therefor.

Appears in 1 contract

Samples: A Lease Agreement (Dataram Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!