Default by Manager. Manager shall be deemed to be in breach hereunder in the event Manager shall fail to keep, observe or perform any covenant, agreement, term or provision of this Agreement to be kept, observed or performed by Manager, and such breach shall continue for a period of thirty (30) days after notice thereof by Owner to Manager, or if such breach cannot be cured within thirty (30) days, then such additional period as shall be reasonable, provided that Manager is capable of curing same and is diligently proceeding to cure such breach, and provided further that if such breach is a failure to pay money, such, cure period shall be five (5) days after notice from Owner with no additional period thereafter.
Default by Manager. (a) The occurrence of any one of the following shall constitute a default by Manager hereunder.
(i) if Manager fails to observe or perform any of its material obligations hereunder in any material respect and such failure continues uncured for a period of thirty (30) days after written notice thereof to Manager from Medical Group or, if such failure cannot be cured within such thirty (30) day period, Manager has failed to commence to cure such failure within such thirty (30) day period and diligently proceed to effect such cure;
(ii) if Manager: (A) makes an assignment for the benefit of creditors; (B) admits in writing its inability to pay its debt as they become due; (C) files a petition seeking reorganization and arrangement, readjustment or similar arrangement under the present or future statute, law or regulation, if any present or future; (D) files an answer admitting the material allegations of a petition filed against it and any such proceeding; or (E) consents to or acquiesces in the appointment of a trustee, receiver, or liquidator of all or any part of its assets or properties; or
(iii) if, within sixty (60) days after the commencement of any proceedings against Manager seeking reorganization or similar relief under any present or future statute, law or regulation, such proceedings shall have not been dismissed, or if within sixty (60) days after the appointment (without Manager’s consent or acquiescence) of any trustee, receiver or liquidator of all or any substantial part of its assets or properties, such appointment shall not have been vacated.
(b) Upon a default by Manager which has not been cured within an applicable cure period, Medical Group shall have the right to immediately terminate this Agreement.
Default by Manager. Manager shall be deemed to be in default under this Agreement at any time following the occurrence of an Event of Default. As used herein, the term "Event of Default" shall mean the occurrence of one or more of the following: (a) the failure by Manager to pay monies or make distributions when due and as required pursuant to the terms of this Agreement and such failure continues for three (3) business days after notice thereof; (b) a breach by Manager of any non-monetary term or condition of this Agreement and such breach continues for thirty (30) days after notice thereof; (c) the negligence, fraud, or willful misconduct by Manager in carrying out its duties and obligations under or in connection with this Agreement; (d) the occurrence of any Bankruptcy with respect to Manager or criminal indictment or conviction of a crime involving fraud, theft, or financial misdeeds with respect to (i) Manager, or (ii) any other officer, director, general partner, or managing member of Manager or any Affiliate of Manager; or (e) the loss of any license necessary for Manager to carry out its obligations under this Agreement.
Default by Manager. An Event of Default with respect to Manager shall occur in the event of any of the following:
(a) the Bankruptcy of the Manager,
(b) the gross negligence or willful misconduct of Manager with respect to its duties and obligations under this Agreement,
(c) the permit(s), license(s) or certificate(s) required for use, operation or management of the Facility are at any time suspended, terminated or revoked and not reinstated with the applicable appeal period, if any, for any reason due solely to the acts or omissions of Manager,
(d) Manager’s failure to keep, observe or perform any material covenant, agreement, term or provision of this Agreement to be kept, observed or performed by Manager, which failure shall continue (i) for a period of five (5) Business Days after Manager receives notice from SNH TRS in case of monetary defaults or (ii) for a period of twenty (20) Business Days after Manager receives notice from SNH TRS in the case of non-monetary defaults, in each case, specifying the default; provided, however, that if such non-monetary default cannot be cured within such twenty (20) Business Day period, then Manager shall be entitled to such additional time as shall be reasonable, provided the default is curable and Manager has promptly proceeded to commence cure of such default within said period, and thereafter diligently prosecutes the cure to completion; provided, however, that in no event shall such additional time exceed ninety (90) days,
(e) a Change in Control of Manager to which SNH TRS does not consent,
(f) a default by Manager or any Affiliate of Manager under any other agreement between Manager or an Affiliate of Manager and SNH TRS or an Affiliate of SNH TRS, which continues beyond any applicable notice and cure period.
Default by Manager. The following events shall be deemed to be events of default by the Manager under this Agreement:
Default by Manager. Manager shall be in default hereunder in the event Manager fails to perform or comply with any material term of this Agreement to be performed or complied with by Manager and such default is not remedied within: (a) thirty (30) days after written notice of any non-monetary default given to Manager by Owner; provided, however, if Manager is exercising good faith efforts to remedy such a non-monetary default, the aforesaid thirty (30) day period may be extended for such additional period as is reasonable to cure such default; or (b) immediately upon written notice in the event Manager misappropriates funds of Owner or commits fraud or willful misconduct against Owner.
Default by Manager. In the event of a breach of the provisions of ------------------ this Agreement by Manager, Owner shall have the right to give to Manager thirty (30) days' written notice to cure such breach, and in the event of the failure of Manager to do so within such period, Owner shall have the right to thereafter terminate this Agreement upon at least thirty (30) days' written notice of such election to terminate, such termination to be effective as of the end of the first full month following the giving of such termination notice; provided that if the breach is of such nature that it cannot be cured within such thirty (30) day period, this Agreement shall not be terminable on account of such breach so long as, within such thirty (30) day period, Manager shall have commenced to cure such breach and shall thereafter diligently prosecute the cure thereof.
Default by Manager. Manager shall be deemed to be in default hereunder in the event Manager shall materially fail to keep, observe or perform any material covenant, agreement, term or provision of this Agreement to be kept, observed or performed by Manager, and such default shall continue for a period of thirty (30) days after notice thereof by Owner to Manager, or if such default cannot be cured within thirty (30) days, then such additional period as shall be reasonable, provided Manager is capable of curing same and has proceeded to cure such default.
Default by Manager. (1) If Manager defaults in any material respect in performing any of its obligations under this Agreement and such default is not cured within thirty (30) days after notice thereof is given by Company to Manager, then, subject to Section 6.2(2) hereof, Company shall have the right to terminate this Agreement by giving written notice to that effect to Manager.
(2) If such default is curable but is of such nature that it cannot reasonably be cured within such thirty (30) day period, then the cure period shall be extended for a reasonable period of time thereafter, so long as Manager promptly after receiving such notice commences to cure such default and thereafter proceeds with reasonable diligence to complete the curing thereof.
Default by Manager. In the event of any default, non-performance or breach of any of the terms or conditions of this Agreement by Manager, Licensee agrees that Manager’s liability hereunder shall be limited to repayment of any amount of deposit or rent previously paid to Manager by Licensee under this Agreement, less any applicable Special Facilities Charges or Out-of-Pocket Expenses.
