Default and Termination for Default Clause Samples

Default and Termination for Default. Landlord or Tenant shall be in default of this Lease if either party breaches any material provision hereof and said breach is not cured by the breaching party within sixty (60) days of receipt of notice of said breach from the non- breaching party, or if such cure cannot reasonably be had within said sixty (60) day period, then if cure of such breach is not commenced within thirty (30) days of receipt of such notice and not thereafter completed using diligent efforts. Upon the breaching party’s failure to cure its breach within such time, as applicable, the non-breaching party shall have the right to terminate this Lease for default, and to pursue such remedies as may be available in law or equity.

Default and Termination for Default. The Buyer or the Seller shall be in default of this Agreement if either breaches any provision of this Agreement and the breach is not cured by the breaching party within thirty (30) days of receipt of notice of said breach from the non-breaching party, unless the parties agree in writing to a different time to cure the breach. Upon the breaching party’s failure to timely cure a breach, the non-breaching party shall have the right to terminate this Agreement for default, and to pursue such remedies as may be available in law or equity. A. In the event of a termination due to the Seller’s breach, the Seller shall return any money paid by the Buyer for Credits that are unable to be utilized by the Buyer and shall pay all costs incurred by the Buyer to replace any Credits promised and mutually agreed upon, as indicated by both parties on Exhibit A, that were not provided. B. In the event of a termination due to Buyer’s breach which is not timely cured, the Seller shall have the right to sell the Credits to another qualified buyer. C. The Parties agree that they have a duty to mitigate damages. Parties will use reasonable efforts to minimize any damages incurred as a result of the other Party's non-performance of this Agreement. Such reasonable efforts may include, but shall not be limited to, requesting reserve credits from governmental agencies and/or purchasing credits from another trading partner.

Default and Termination for Default. If an order for relief is entered against a Party in any bankruptcy proceeding, or if a Party makes a general assignment for the benefit of creditors, or if a receiver is appointed for all or a portion of a Party’s property, or if a Party otherwise defaults in the performance of its material obligations under this Agreement, then the non-defaulting Party may, upon notice and the defaulting Party’s failure to cure such default within thirty (30) days after the non-defaulting Party receives notice, terminate the Agreement without prejudice to any other right or remedy the non-defaulting Party may have. Notwithstanding the foregoing, no default shall be deemed to have occurred hereunder with respect to the actions or inaction of a Party during the pendency of a good faith dispute as to the compliance of those actions or inaction with that Party’s obligations hereunder; provided, however, that if such dispute concerns the payment of money owed (or allegedly owed) by one Party to the other, the amount in dispute shall be deposited in an escrow account with a national or state chartered banking institution pending resolution of the dispute. In the event of a default by CPI of its material obligations under this Agreement, and subject to the notice, cure, and dispute provisions set forth above, CPI shall waive and have no claim to any amounts otherwise owed to it from the Monthly Services Account established pursuant to Exhibit B. For purposes of this Agreement, any failure of a Party to abide by the respective obligations established in Sections 1 through 7 and Exhibit B hereof shall constitute a default of a material obligation hereunder. In the event of an event of default by the Town of its material obligations, CPI agrees that it will not discontinue wastewater treatment service to Town provided all payments for wastewater treatment service and reclaimed water service required hereunder are made by the Town and until such time as a court of competent jurisdiction has rendered an adjudication of default. In the event Town disputes amounts payable for Services pursuant to this Agreement, Town shall continue to make such payments, but may make such payments under protest. Termination of this Agreement before the end of the Term shall require prior notice to and approval of DEQ.

Default and Termination for Default. In the event Subcontractor, in Contractor’s judgment, (i) becomes unable to fulfill its financial obligations, becomes insolvent, or files or has filed against it any petition in bankruptcy, makes an assignment for the benefit of creditors, or has a receiver asked or appointed for it; (ii) changes, alters or transfers the ownership of its organization; (iii) fails to supply enough properly skilled supervisors or workers or proper materials; (iv) fails to pay, when due, for materials, supplies, labor, payroll taxes or contributions, or other items purchased or used in connection with the Work; (v) fails to observe and comply with applicable laws, regulations, or ordinances, or instructions of Contractor; (vi) fails to diligently prosecute the Work; (vii) interferes with or disrupts, or threatens to interfere with or disrupt the work of others; or (viii) otherwise fails in the performance of any of its obligations under this Agreement or the Contract Documents, Subcontractor will be in default. Contractor may give Subcontractor written notice of default and if Subcontractor fails to cure the default within forty-eight (48) hours of its receipt of said written notice, Contractor may terminate this Agreement for default and take control over all of Subcontractor’s materials and equipment on site and take all steps reasonably required to complete the Work at Subcontractor’s cost. Costs, which will be charged against Subcontractor, will include, without limitation, all reasonably necessary materials, labor and supervision, equipment, rentals, transportation and lodging, indirect field, and general and administration costs reasonably related to the Work, including, without limitation, engineering fees, accounting fees, attorney fees, liquidated damages, and field and home office overhead. Contractor's failure to exercise its rights under this provision will not waive its right to do so in the future or sanction or excuse Subcontractor’s contractual breach. In the case of a default termination, Subcontractor will not be entitled to receive further payments under this Agreement until the Work is fully completed and accepted by the Owner and the Architect. At such time, if the unpaid balance under this Agreement exceeds the expenses incurred by Contractor (including all damages of any nature, overhead, and attorney fees related to the termination or Subcontractor's default) in completing the Work, then the difference will be paid to Subcontractor. If the expenses in...

Default and Termination for Default. Each of the following shall be an “Event of Default”: a. Lessee shall fail to pay rent when due, the Lessor, at his option, may terminate all rights of the Lessee herein and demand surrender of the premises, after not less than five (5) days, written notice of such default, given in a manner required by law unless Lessee rectifies or cures the default within the said time; b. If Lessee shall fail to pay any other payment of money, costs or expenses to be paid by Lessee under this Lease, when due, and the continuance of such failure for a period of ten (10) days, or lesser time if allowed by applicable law, after written notice from Lessor specifying such failure; c. If ▇▇▇▇▇▇ fails to perform any other of the terms of this Lease to be observed or performed by ▇▇▇▇▇▇, after not less than ten (10) days, written notice of such default, given in a manner required by law unless Lessee rectifies or cures the default within the said time; Lease Agreement for EALIXIR INC ▇▇ ▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ 9 The filing or execution or occurrence of any of the following will be considered a Default on the part of Lessee unless assurances are provided to the Lessor that Lessee will continue to pay rent, and Lessee does in fact continue to pay rent: a. A petition in bankruptcy by or against ▇▇▇▇▇▇; b. A petition against or answer by ▇▇▇▇▇▇ seeking a reorganization, arrangement, composition, re-adjustment, liquidation, dissolution or other relief of the same or different kind under any provision of any bankruptcy laws; c. Adjudication of Lessee as a bankrupt or insolvent; d. An assignment by ▇▇▇▇▇▇ for the benefit of creditors; e. A petition against or proceeding by ▇▇▇▇▇▇ for, or the appointment of, a trustee, receiver, guardian, conservator or liquidator of Lessee with respect to the premises or with respect to all or substantially all of ▇▇▇▇▇▇’s property; or f. A petition against or proceeding by or against Lessee for its dissolution or liquidation or the taking of possession of ▇▇▇▇▇▇’s property by any governmental authority in connection with dissolution or liquidation. g. Where in the case of a petition filed against Lessee under (1), (2), (5) or (6) above, such petition is not dismissed within ninety (90) days after the filing thereof; h. Entry of an order, judgment or decree by any court of competent jurisdiction granting any prayer or demand contained in any petition under (1), (2), (5) or (6) above, which order, judgment or decree is not reversed o...

Default and Termination for Default. Landlord or Tenant shall be in default of this Lease if either party breaches any material provision hereof and said breach is not cured by the breaching party within thirty (30) days in the case of a Monetary Default or sixty (60) days in the case of a non-Monetary Default, following receipt of notice of said breach from the non- breaching party, or if such cure cannot reasonably be had within said sixty (60) day period, then if cure of such breach is not commenced within thirty (30) days of receipt of such notice and not thereafter completed using diligent efforts. Upon the breaching party’s failure to cure its breach within such time, as applicable, the non-breaching party shall have the right to a) terminate this Lease for default, and to pursue such remedies as may be available in law or equity or b) perform the defaulting Party’s duty or obligation on the defaulting Party’s behalf, including but not limited to the obtaining of required insurance policies; the costs and expenses of any such performance by the non-defaulting Party shall be due and payable by the defaulting Party upon invoice therefor (and the non-defaulting Party shall have the right to set such amount off against any future payments due to the breaching Party such amount has not been reimbursed); provided however that Landlord shall not be permitted to operate the Solar Facility or perform any maintenance or repairs thereto.

Default and Termination for Default. Each of the following shall be an “Event of Default”: a. Lessee shall fail to pay rent when due, the Lessor, at his option, may terminate all rights of the Lessee herein and demand surrender of the premises, after not less than five (5) days, written notice of such default, given in a manner required by law unless Lessee rectifies or cures the default within the said time; b. If Lessee shall fail to pay any other payment of money, costs or expenses to be paid by Lessee under this Lease, when due, and the continuance of such failure for a period of ten (10) days, or lesser time if allowed by applicable law, after written notice from Lessor specifying such failure; c. If ▇▇▇▇▇▇ fails to perform any other of the terms of this Lease to be observed or performed by ▇▇▇▇▇▇, after not less than ten (10) days, written notice of such default, given in a manner required by law unless Lessee rectifies or cures the default within the said time; Lease Agreement for EALIXIR INC ▇▇ ▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ 9 The filing or execution or occurrence of any of the following will be considered a Default on the part of Lessee unless assurances are provided to the Lessor that Lessee will continue to pay rent, and Lessee does in fact continue to pay rent: a. A petition in bankruptcy by or against ▇▇▇▇▇▇; b. A petition against or answer by ▇▇▇▇▇▇ seeking a reorganization, arrangement, composition, re-adjustment, liquidation, dissolution or other relief of the same or different kind under any provision of any bankruptcy laws; c. Adjudication of Lessee as a bankrupt or insolvent; d. An assignment by ▇▇▇▇▇▇ for the benefit of creditors; e. A petition against or proceeding by ▇▇▇▇▇▇ for, or the appointment of, a trustee, receiver, guardian, conservator or liquidator of Lessee with respect to the premises or with respect to all or substantially all of ▇▇▇▇▇▇’s property; or f. A petition against or proceeding by or against Lessee for its dissolution or liquidation or the taking of possession of ▇▇▇▇▇▇’s property by any governmental authority in connection with dissolution or liquidation. g. Where in the case of a petition filed against Lessee under (1), (2), (5) or (6) above, such petition is not dismissed within ninety (90) days after the filing thereof; h. Entry of an order, judgment or decree by any court of competent jurisdiction granting any prayer or demand contained in any petition under (1), (2), (5) or (6) above, which order, judgment or decree is not reversed o...