Default by Lessee. If Lessee fails to make payment of any Monthly Rental within five days of delivery by Lessor of notice of any Monthly Rental that is past due, or fails to cure any other default under this Agreement within ten days of delivery by Lessor of such default, then a “Lessee Event of Default” shall exist and Lessor shall have the following remedies, which shall be cumulative rather than exclusive:
(a) the right to terminate this Agreement, and the grant of the Lease hereunder, which termination right may be exercised by written notice by Lessor to Lessee, and which termination shall be effective as of the date of such notice;
(b) the right to immediately enter upon and repossess the Designated Boat Slip and all appurtenances thereto, by forcible entry and detainer suit, or otherwise;
(c) the right to remove Lessee’s Craft (and any personal property then inside Lessee’s Craft from its mooring, and to store Lessee’s Craft (and such personal property), with all risk of loss belonging solely to Lessee, and with no liability whatsoever to Lessor, and with all costs of storage being deemed to be including among the past due Monthly Rental under this Agreement;
(d) the right to make any required repairs to the Designated Boat Slip, or to expend any other sums required to cure any defaults by Lessee under this Agreement, with all such sums expended being deemed to be included among the past due Monthly Rental under this Agreement;
(e) the right to terminate Lessee’s rights of possession with regard to the Designated Boat Slip and all appurtenances thereto, without demand or notice of any kind and without terminating this Agreement, in which event Lessor may, but shall be under no obligation to, relet all or any part of the Designated Boat Slip for credit to Lessee’s account, on such terms and conditions as Lessor in its sole discretion shall deem appropriate; and
(f) the right to exercise Lessor’s rights under the Texas Uniform Commercial Code with regard to the security interest granted to Lessor in the Secured Property. In the event of any Lessee Event of Default, Lessor shall have the right to recover from Lessee, whether by way of sale of the Secured Property, or by means of execution and levy on a judgment, or by means of voluntary payment by Lessee, or by some combination thereof: (a) all Monthly Rental that is past due, including any late payment fees due in connection therewith, (b) all Monthly Rental to come due during the remainder of the Term (assuming that Le...
Default by Lessee. (a) The occurrence of any of the following shall constitute a default under this Lease:
(i) Any failure by the Lessee to pay the rent when due as herein specified. The Lessors shall forward notice of such default in writing to the Lessee, and the failure of the Lessee to cure such default within thirty (30) days after the date of receipt of such notice shall, at the option of the Lessors, authorize the Lessors to terminate this Lease.
(ii) The abandonment of the Demised Premises by the Lessee.
(iii) A failure by the Lessee to observe and perform any other provision of this Lease, where such failure continues for thirty (30) days after written notice by the Lessors. However, if the nature of such default is such that it cannot reasonable be cured within such period, the Lessee shall not be deemed to be in default if the Lessee shall within this period commence to cure and then diligently complete such curing.
(iv) The making by the Lessee of an assignment of its interest hereunder without prior written approval from the Lessors, or if the Lessee shall file a petition in bankrupt or the appointment of a receiver or assignee shall automatically terminate all rights of the Lessee under this Lease and no rights thereto shall pass to the receiver, trustee in bankruptcy or assignee.
(b) In any such events, the Lessors may give the Lessee written notice specifying a day not less than five (5) days thereafter whereupon the Term shall end, and on the day specified the Term shall expire as if that day were the day herein fixed for the expiration of the Term, and the Lessee shall quit and surrender the Demised Premises to the Lessors, and the rent for the balance of the Term of this Lease shall become immediately due to compensate the Lessors for all damages sustained by the Lessors which resulted from the Lessee's failure to perform its obligations hereunder.
Default by Lessee. Each of the following shall be an "Event of Default" (sometimes referred to herein as a "default") by Lessee and a material breach of this Lease:
(a) Lessee shall fail to make any payment owed by Lessee under this Lease, as and when due, and the Lessor shall have delivered a Notice to Pay or Quit. Any such notice shall be in lieu of, and not in addition to, any notice required under Section 1161 of the California Code of Civil Procedure;
(b) Lessee shall fail to observe, keep or perform any of the terms, covenants, agreements or conditions under this Lease that Lessee is obligated to observe or perform, other than that described in subsection (a) above, for a period of ten (10) days after notice to Lessee of said failure; provided, however, that if the nature of Lessee's default is such that more than ten (10) days are reasonably required for its cure, then Lessee shall not be deemed to be in default under this Lease if Lessee shall commence the cure of such default so specified within said ten (10) day period and diligently prosecute the same to completion within thirty (30) days after the original notice to Lessee of said failure. Such notice shall be in lieu of, and not in addition to, any notice required under Section 1161 of the California Code of Civil Procedure.
(c) Lessee shall (i) make any general arrangement or assignment for the benefit of creditors; (ii) become a "debtor" as defined in 11 U.S.C. Section 101 or any successor statute thereto (unless, in case of a petition filed against Lessee, the same is dismissed within 60 days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within 30 days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within 30 days. Provided, however, in the event that any provision of this subparagraph is contrary to any applicable law, such provision shall be of no force or effect; or
Default by Lessee. Lessee covenants and agrees that if Lessee shall make default in the payment of any Base Rental, Adjusted Base Rental or other charges required to be made by it to Lessor hereunder, or in the faithful performance of any other covenant to be performed by it hereunder, then Lessor may exercise any and all remedies available at law or in equity, including, but not limited to, declare this Agreement terminated and without additional notice to Lessee the Lessor or any of its agents may reenter the Leased Premises and remove all persons and property therefrom, with or without legal process and without prejudice to any of Lessor's other legal rights hereunder and/or, Lessor may take possession of the Leased Premises and re-let the same for the remainder of the term hereof for the account of Lessee, it being understood that under any of said options, Lessee shall remain liable for all rental and other sums payable under the provisions hereof. In the event of any reentry by Lessor, Lessee hereby expressly waives all claims for damages by reason hereof, as well as all claims for damages by reason of any eviction proceedings or proceedings by way of sequestration or any other legal proceedings which Lessor may employ to recover any sums due hereunder or possession of the Leased Premises.
Default by Lessee. The occurrence of any one or more of the following events shall constitute a default of this Lease by Lessee:
(a) The vacating or abandonment of the Premises by Lessee combined with the failure to pay rent;
(b) The failure of Lessee to make any payment of rent or any other payment required to be made by Lessee hereunder, as and when due, where such failure shall continue to for a period of ten (10) days after written notice thereof from Lessor to Lessee; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161;
(c) The failure by Lessee to observe or perform any of the covenants, conditions or provisions of this Lease (or the covenants, conditions and restrictions governing Santa Xxxxxxx Tech Center to be observed or performed by Lessee, other than described in Paragraph 12.1 (b) hereof, where such failure shall continue for a period of thirty (30) days after written notice thereof from Lessor to Lessee; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161; provided further, that if the nature of Lessee’s default is such that more than thirty (30) days are reasonably required for its cure, then Lessee shall not be deemed to be in default if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion; or
(d) The making by Lessee of any general assignment or general arrangement for the benefit of creditors; the filing by or against Lessee of a petition to have Lessee adjudged a bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days); the appointment of a trustee or receiver to take possession of substantially all of Lessee’s assets located at the Premises, or of Lessee’s interest in this Lease, where possession is not restored to Lessee within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Lessee’s assets located at the Premises or of Lessee’s interest in this Lease, where such seizure is not discharged within thirty (30) days.
Default by Lessee. If Lessee defaults, Lessor shall have any or all remedies set forth below.
Default by Lessee. The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by Lessee:
(a) the failure by Lessee to make any payment required to be made by Lessee hereunder as and when the same becomes due and payable, if such failure continues for a period of 15 days following written notice from Lessor;
(b) the failure by Lessee to observe or perform any of the other covenants, conditions or provisions of this Lease to be observed or performed by Lessee, if such failure continues for a period of 30 days following written notice from Lessor; provided, however, if a reasonable time to cure such default would exceed 30 days, Lessee shall not be in default so long as Lessee begins to cure such default within 30 days of receiving written notice from Lessor and thereafter completes the curing of such default within reasonable period of time (under the circumstances) following the receipt of such written notice from Lessor;
(c) the occurrence of any Bankruptcy Event with respect to Lessee;
(d) the termination of the Ethylene Sales Agreement by Lessor or Lessor’s Affiliates, in accordance with the provisions thereof, due to a breach or default by Lessee thereunder, or due to the occurrence of a Force Majeure (as defined in the Ethylene Sales Agreement); or
(e) the failure by Lessee to operate the Lessee Assets and Additional Improvements for any period of six consecutive months (subject to extension for Force Majeure in accordance with Section 11.18), other than during periods of reconstruction due to the occurrence of a Casualty Event or condemnation, so long as such reconstruction is being performed in compliance with this Lease.
Default by Lessee. If Lessee shall default in any covenant or agreement to be performed by Lessee under this lease, and if after written notice has been sent by Lessor to Lessee, such default shall continue for a period of days, or if the leasehold interest of Lessee shall be taken on execution or other process of law or if Lessee shall petition to be or be declared bankrupt or insolvent according to law or make any conveyance or general assignment for the benefit of creditors or if a receiver be appointed for Lessee’s property and such appointment is not vacated and set aside within days from the date of such appointment, or if proceedings for reorganization, arrangement, composition or other proceedings with creditors be instituted by or against Lessee, then, and in any of such events, Lessor may immediately or at any time thereafter, and without further notice or demand, enter into and upon the premises and take absolute possession of the premises, without such reentry working a forfeiture of the rents to be paid and the covenants to be performed by Lessee for the full term of this lease. In such events, Lessor may at Lessor’s election lease or sublet the premises or any part thereof upon such terms and conditions and for such rent and for such term as Lessor may elect and, after crediting the rent actually collected by Lessor from subletting against the rentals required to be paid under this lease by Lessee, collect from Lessee any balance due on the rent required by this lease.
Default by Lessee. The following shall be deemed to be events of default by Lessee under this Lease;
(1) Lessee shall fail to pay when due any installment of rent or any other payment required pursuant to this Lease and such failure is not cured within ten days after written notice to Lessee;
(2) Lessee shall abandon any substantial portion of the leased premises;
(3) Lessee shall fail to comply with any term, provision or covenant of this Lease, other than the payment of rent, and the failure is not cured within 20 days after written notice to Lessee;
(4) Lessee shall file a petition or be adjudged bankrupt or insolvent under any applicable federal or state bankruptcy or insolvency law or admit that it cannot meet its financial obligations as they become due; or a receiver or trustee shall be appointed for all or substantially all of the assets of Lessee; or Lessee shall make a transfer in fraud of creditors or shall make an assignment for the benefit of creditors; or
(5) Lessee shall do or permit to be done any act which results in a lien being filed against the leased premises or the building and/or project of which the leased premises are a part.
Default by Lessee. The following provisions shall govern default by the LESSEE:
20.1. LESSEE will be in default under this Lease upon the happening of any one or more of the following events:
20.1.1. Failure of LESSEE to make any rent payment when due or fully and timely perform any obligation contained in this Lease.
20.1.2. Any warranty, representation or statement made or furnished to LESSOR by or on behalf of LESSEE for the purpose of inducing the execution of this Lease or any other agreement between the parties proves to have been false in any material respect when made or furnished.
20.1.3. LESSEE is dissolved or its existence terminated; LESSEE becomes insolvent, its business fails, or a receiver is appointed for any of LESSEE'S property; LESSEE is generally not paying its debts as they become due; or LESSEE makes an assignment for the benefit of its creditors or is the subject of any voluntary or involuntary bankruptcy or insolvency proceeding.
20.1.4. Any of the occurrences set forth in Section 20.1.3. of this Lease above occurs with respect to any guarantor or surety of LESSEE'S obligations.
20.1.5. LESSEE abandons the Premises, or the Premises or LESSEE'S
20.2. If LESSEE defaults, LESSOR may enforce its rights by an action for rent and possession, unlawful detainer, or other legal remedy. LESSEE agrees that, notwithstanding LESSOR'S possession of the Premises, LESSEE shall remain liable for and shall pay LESSOR an amount equal to the entire rent payable to the end of the then-applicable term of this Lease. This amount may either (a) be accelerated and become payable at once, or (b) become due and be payable monthly, at the sole option of LESSOR. In addition, LESSEE shall be liable for and shall pay to LESSOR any loss or deficiency sustained by LESSOR because of LESSEE'S default.
20.3. Notwithstanding LESSOR'S re-entry and possession of the Premises, LESSOR, upon LESSEE'S default, shall have the right, without notice to LESSEE, and without terminating this Lease, to make alterations and repairs for the purpose of reletting the Premises. LESSOR may relet or attempt to relet the Premises or any part of the Premises for the remainder of the then-applicable Lease term or for any longer or shorter period as opportunity may offer, to such persons and at such rent as may be obtained. Nothing in this Lease shall require LESSOR to relet or make any attempt to relet the Premises, and any reletting shall be done by LESSOR as agent for LESSEE. In case the Premises are relet, ...
