Common use of Company’s Default Clause in Contracts

Company’s Default. a. Company shall be in default under this Lease if: (i) Company fails to perform any of Company’s covenants under this Lease (other than the payment of rent or other charges) and such failure shall have continued for a period of thirty (30) days after written notice from Landowner (or if such failure is not reasonably capable of being cured within thirty (30) days, if Company shall not have commenced to cure the same within said 30-day period and/or shall not have thereafter diligently prosecuted the same to completion); or (ii) Company fails to pay rent or other charges herein required to be paid and such failure continues for a period of fifteen (15) business days after written notice from Landowner. b. If Company shall be in default after the expiration of the cure period set forth above, then Landowner shall be entitled, at its election, either c. If Landowner shall elect to terminate this Lease, then all rights and obligations of the parties shall terminate, Furthermore, upon such termination Company will still be required to meet the obligations set forth in Section 7 of this Lease.

Company’s Default. a. Company shall be in default under this Lease if: (i) Company fails to perform any of Company’s covenants under this Lease (other than the payment of rent or other charges) and such failure shall have continued for a period of thirty (30) days after written notice from Landowner (or if such failure is not reasonably capable of being cured within thirty (30) days, if Company shall not have commenced to cure the same within said 30-day period and/or shall not have thereafter diligently prosecuted the same to completion); or (ii) Company fails to pay rent or other charges herein required to be paid and such failure continues for a period of fifteen (15) business days after written notice from Landowner. b. If Company shall be in default after the expiration of the cure period set forth above, then Landowner shall be entitled, at its election, eithereither (i) c. If Landowner shall elect to terminate this Lease, then all rights and obligations of the parties shall terminate, Furthermore, upon such termination Company will still be required to meet the obligations set forth in Section 7 of this Lease.