Common use of Default by Company Clause in Contracts

Default by Company. Subject to the provisions of Section 2.16 and Section 2.18, Company will be considered in default as Lessee under this Agreement in the event of any one or more of the following occurrences: 2.14.1.1 Company fails to pay the rent or any other money payments required by this Agreement when the same are due and the continuance of such failure for a period of thirty (30) days after written notice thereof from the LDR to Company or Company fails to maintain any insurance required to be maintained by it under this Agreement and such failure continues for a period of fifteen (15) days after written notice thereof from the LDR to Company. 2.14.1.2 Company fails to perform any other covenant contained in this Agreement and such failure continues for a period of sixty (60) days after written notice thereof from the LDR to Company; provided, however, that if a nonmonetary default cannot be cured with reasonable diligence within such sixty (60) day period, then Lessor shall not have the right to terminate this Agreement or pursue any other remedy against Company, as long as Company commences the curing of such default within said sixty (60) day period and thereafter proceeds with the curing of such default to completion with reasonable diligence, with allowance for delays due to the action or failure to act of governmental authorities, strikes, acts of God or other matters beyond the reasonable control of Company. 2.14.1.3 Company voluntarily abandons the Premises for a period of sixty (60) days following written notice from the LDR to Company.