Chronic Default Sample Clauses

Chronic Default. The term “Chronic Default” as used in this Lease shall mean that Tenant has materially defaulted in the performance of any of its obligations under this Lease beyond any applicable notice and cure periods more than four (4) times during the Term of the Lease, regardless of whether or not Tenant cures any such material default. A Chronic Default is not curable by Tenant. Upon the occurrence of a Chronic Default and at all times thereafter during the balance of the Term of this Lease, Landlord shall no longer be obligated to provide Tenant written notice of default as set forth in Section 18.3 hereof and Tenant shall no longer be entitled to any cure period set forth in this Lease, including without limitation, those cure periods set forth in Section 18.3. Following a Chronic Default, Landlord, in its sole discretion, may elect to provide written notice of default to Tenant or grant Tenant a period during which it may cure any such default, however, no such delivery of written notice or grant of a cure period by Landlord shall in any way obligate Landlord to provide Tenant any subsequent written notices of default or cure periods.
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Chronic Default. If Tenant fails to pay the Base Rent or any Additional Rent by the due date thereof more than two (2) times during any calendar year (even if Tenant cures each such failure within the time provided in Section 20.1.1 [Monetary Default]).
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Chronic Default. A party shall be in “Chronic Default” under this Lease at any time that the other party has delivered more than two (2) notices of default to such party hereunder during the previous four (4) years, regardless of whether such defaults were cured within any applicable grace or cure period; provided, however, that any such notice of default relating to a default which was disputed, in good faith, and ultimately determined (by agreement of the parties, arbitration or judicial action) not to be a default shall not be considered for purposes of determining whether a party is in Chronic Default.
Sample 1
Chronic Default. The term "Chronic Default" as used in this Lease shall mean that Tenant is in default beyond any applicable notice and cure period in the performance of any of its obligations under this Lease more than three (3) times in any twelve (12) month period, unless Tenant shall subsequently perform all of Tenant's obligations under this Lease without default beyond any applicable notice and cure period for a total of twenty-four (24) consecutive months following the last default beyond any applicable notice and cure period.
Sample 1
Chronic Default. The term “Chronic Default” as used in this Lease shall mean that Tenant is in default in the performance of any of its obligations under this Lease beyond-applicable notice and cure periods, if any, for more than two (2) times in any twelve (12) month period, regardless of whether or not Tenant cures any such default. If Tenant once becomes in Chronic Default, Tenant may become out of Chronic Default if no default by Tenant in the performance of any of its obligations under this Lease beyond applicable notice and cure periods, if any, occurs in the following twelve (12) month period.
Sample 1
Chronic Default. Tenant shall be deemed in “Chronic Default” under this Lease if Tenant, more than three (3) times in any twenty-four (24) month period, fails to make a payment of Rent or other amount due hereunder, when due and payable or fails to observe and perform any other terms, covenants, conditions, limitations or agreements under this Lease on Tenant’s part to be observed or performed (regardless of whether Tenant has timely cured). If Tenant is in Chronic Default, then Landlord shall be permitted to declare a Tenant Event of Default pursuant to Section 25.01(a) or (b) by providing written notice to Tenant and Tenant shall have no cure periods.
Sample 1
Chronic Default. The term “Chronic Default” as used in this Lease shall mean that Tenant has materially defaulted in the performance of any of its obligations under this Lease more than five (5) times during the Term of the Lease, beyond any applicable notice and cure period. A Chronic Default is not curable by Tenant. Upon the occurrence of a Chronic Default and at all times thereafter during the balance of the Term of this Lease, Tenant shall no longer be entitled to any cure period set forth in this Lease, including without limitation, those cure periods set forth in Section 18.3. Following a Chronic Default, Landlord, in its sole discretion, may elect to provide written notice of default to Tenant or grant Tenant a period during which it may cure any such default, however, no such delivery of written notice or grant of a cure period by Landlord shall in any way obligate Landlord to provide Tenant any subsequent written notices of default or cure periods.
Sample 1
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Chronic Default. The term “Chronic Default” as used in this Lease shall mean that Tenant has materially defaulted in the performance of any of its obligations under this Lease more than three (3) times during the Term of the Lease, regardless of whether or not Tenant cures any such material default.
Sample 1
Chronic Default. Sublessee will be in "Chronic Default" under this Sublease if Sublessee breaches any of the terms and conditions of this Sublease during any twelve (12) month period in which two (2) payment of rent defaults have already occurred (even though said defaults may have been timely cured). If Sublessee is in Chronic Default, Sublessor may immediately exercise any and all rights and remedies available under this Sublease or at law or in equity, all without giving Sublessee any notice or opportunity to cure the breach(es) causing Sublessee's Chronic Default. The notice and cure provisions contained in paragraph 7 shall not be applicable when Sublessee is in Chronic Default.
Sample 1

Related to Chronic Default

  • Specific Defaults The Company fails to perform or observe any term, covenant or agreement contained in any of Section 6.01, 6.02, 6.03 or 6.09(c) or in Article VII; or

  • Contractor Default Failure of the Contractor, which has neither been remedied nor waived, to perform or otherwise to comply with the terms of the Construction Contract.

  • Major Default The Purchasers shall be considered to be in “Major Default” in the event that (a) the Purchasers are in breach of their obligations under the Agreement and (b) such breaches, individually or in the aggregate, resulted or would reasonably be expected to result in (i) material Losses to the Sellers or their Affiliates, (ii) material reputational harm to the Sellers or their Affiliates, (iii) material and adverse regulatory consequences to the Sellers or their Affiliates, for which, in each case of clauses (i) through (iii), indemnification by the Purchasers pursuant to Article 8 of the Agreement would not be sufficient to remedy all damages incurred by the Sellers and their Affiliates or (iv) if the Sellers reasonably determine, based on the advice of counsel, that it would reasonably be expected to be a violation of their fiduciary duties under applicable Law to not terminate the Agreement, taking into account the indemnification by the Purchasers pursuant to Article 8 of the Agreement; provided, that the following breaches shall be excluded, and not taken into account, in determining if a Major Default has occurred: (x) any breach to the extent resulting from any action taken by the Purchasers pursuant to and in accordance with written direction given by the Sellers and (y) any breach to the extent arising out of or resulting from, directly or indirectly, a breach by the Sellers of the Agreement, the Transition Services Agreement or the Purchase Agreement.

  • Automatic Defaults If any Event of Default referred to in Section 7.11 hereof shall occur: (a) all of the Commitment shall automatically and immediately terminate, if not previously terminated, and no Lender thereafter shall be under any obligation to grant any further Loan, nor shall the Fronting Lender be obligated to issue any Letter of Credit; and (b) the principal of and interest then outstanding on all of the Loans, and all of the other Obligations, shall thereupon become and thereafter be immediately due and payable in full (if the Obligations are not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Borrower.

  • ERISA Default The occurrence of one or more ERISA Events that (a) the Required Lenders determine could have a Material Adverse Effect, or (b) results in a Lien on any of the assets of any Company.

  • Monetary Default Any failure by a Party to pay, deposit or deliver, when and as this Agreement requires, any amount of money, any bond or surety or evidence of any insurance coverage required to be provided under this Agreement, whether to or with a Party or a Third Person.

  • Customer Default The occurrence at any time of any of the following events shall constitute a “Customer Default”:

  • Absence of Default No event has occurred and is continuing or will result from the consummation of the transactions contemplated by this Amendment that would constitute an Event of Default or a Potential Event of Default.

  • Termination of Default An Event of Default shall be deemed to have been terminated upon the earliest to occur of: 13.7.1. The date the Representative and the Company enter into a settlement of all claims; or 13.7.2. If an Acceleration has not been authorized by the Holders, the date the Company has paid (i) to the Holders, all payments due through such date; and (ii) to the Representative, all the fees and expenses described in section 12.3.2(f); or 13.7.3. If an Acceleration has been authorized by the Holders, the date the Company has paid (i) to the Holders all payments due through such date; and (ii) to the Representative, all the expenses described in section 12.3.2(f); but only if a Majority agrees to annul the demand for Acceleration.

  • Termination by Default If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but any vested rights of the Executive shall not be affected.

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