Common use of Default by Manager Clause in Contracts

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. 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, in the case of any default which can be cured by the payment of a liquidated sum of money, ten (10) days and, in the case of all other defaults, 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. 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, or upon the gross negligence, malfeasance or willful misconduct of Manager, and such default shall continue for a period of, in the case of any default which can be cured by the payment of a liquidated sum of money, ten (10) days and, in the case of all other defaults, thirty (30) days after written 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.