Default by Operator. Each of the following events shall be deemed to constitute breach of this Agreement and, unless cured within ninety (90) days, shall constitute a default hereunder by the Operator:
Default by Operator. Thirty (30) days after the acceleration by any Borrower of the obligations of an Operator as a result of any default in the payment of amounts which are due and owing under any lease, note, mortgage or related security documents in connection with any Facility of such Operator (such Facility, herein referred to as the "DEFAULTED FACILITY"), in the event the Lease Rental Expense and/or Mortgage Expense arising from the Defaulted Facility accounts for 20% or more of the aggregate amount of all Lease Rental Expense and/or Mortgage Expense owing to the Borrowers from all Operators during the immediately preceding four (4) calendar quarters.
Default by Operator. Ninety (90) days after the occurrence of any default by an Operator in the payment of amounts which are due and owing under any lease, note, mortgage or deed of trust (or related security documents) between an Operator and any Borrower or any other event of default by an Operator under the applicable lease, note, mortgage or deed of trust (or related security document) as a result of which such Borrower accelerates the obligations of such Operator, with respect in each case to an Operator whose aggregate Lease Rental Expense and/or Mortgage Expense accounts for 15% or more of the aggregate amount of all Lease Rental Expense and/or Mortgage Expense owing to the Borrowers from all Operators. -82- 89
Default by Operator. Thirty (30) days after the acceleration by the Borrower or any Subsidiary of the obligations of an Operator as a result of any default in the payment of amounts which are due and owing under any lease, note, mortgage or related security documents in connection with any Facility of such Operator (such Facility, herein referred to as the “Defaulted Facility”), in the event the Lease Rental Expense and/or Mortgage Expense arising from the Defaulted Facility accounts for 20% or more of the aggregate amount of all Lease Rental Expense and/or Mortgage Expense owing to the Borrower and the Subsidiaries from all Operators during the immediately preceding four calendar quarters.
Default by Operator. The following events shall be deemed to be Events of Default by Operator under this Agreement:
Default by Operator. A material failure to keep, perform, meet or comply with any covenant, agreement, term or provision of this Agreement to be kept, observed, met, performed, or complied with by OPERATOR hereunder, which such failure continues for a period of sixty (60) days after OPERATOR has written notice thereof, shall constitute an Event of Default on the part of the OPERATOR.
Default by Operator. If Operator fails to perform any obligation to be performed by Operator hereunder, the Xxxxx Entities shall give Operator a written notice of default setting forth in reasonable detail the defaults of Operator and stating the actions that, if taken and pursued to completion, would cure such defaults. If Operator has not cured such defaults within thirty (30) days after receiving said notice, or within a reasonable time after receiving said notice (if the default is of a kind that reasonably cannot be cured within thirty (30) days), the Xxxxx Entities shall have the right and option to remove the Operator as provided in Section 11.6 and/or to terminate this Agreement and to pursue its remedies at law or in equity, subject to the provisions of Section 10.
Default by Operator. The occurrence of any one or more of the following events constitutes a default by the Operator under this Agreement ("Operator Default"):
Default by Operator. Unless the Assigned Credit Advance Value for such Eligible Facility is first paid in full, thirty (30) days after the acceleration by any Loan Party of the obligations of an Operator or a Substantial Tenant as a result of any default in the payment of amounts which are due and owing under any third party lease or related security documents in connection with any Eligible Facility of such Operator or Substantial Tenant (such Eligible Facility, herein referred to as the “Defaulted Facility”), in the event the Lease Rental Expense arising from the Defaulted Facility accounts for 20% or more of the aggregate amount of all Lease Rental Expense owing to the Borrower from all Operators and Substantial Tenants during the immediately preceding four (4) calendar quarters.
Default by Operator. Should Operator fail to pay Royalty, Royalty Sur-Charge or any other amounts due hereunder on the day when such amounts shall become due and payable, and shall continue in default for a period of ten (10) days after written notice thereof by Establishment Licensee, or should Operator fail to comply with other obligations of this Operating Agreement, within thirty (30) days from the mailing by Establishment Licensee of notice demanding same, Establishment Licensee shall have the right, at Establishment Licensee's option, to immediately terminate this agreement, and/or xxx for the damages, and/or seek specific performance of this Operating Agreement by Operator. The foregoing provisions are without prejudice to any remedy which might otherwise be available under Louisiana or other applicable law for breaches of contract or to any lien to which Establishment Licensee may be entitled. If Operator has taken steps to cure any default not curable in twenty (20) days, such additional reasonable time as is necessary in Establishment Licensee's sole discretion to cure such default shall be granted to Operator. Should Establishment Licensee terminate this Operating Agreement as provided in this article, Establishment Licensee may remove all persons and personal property without legal process, and all claims for damages by reason of such removal are hereby expressly waived by Operator. Establishment Licensee's failure to strictly and promptly enforce these conditions shall not operate as a waiver of Establishment Licensee's rights, Establishment Licensee hereby expressly reserving the right to always enforce prompt payment of all sums due hereunder, and/or to cancel this Operating Agreement regardless of any indulgences or extensions previously granted. In the event Operator defaults in the performance of any of the terms, covenants, agreements or conditions contained in this Operating Agreement and Establishment Licensee places the enforcement of this Operating Agreement, or any part thereof, or the collection of any amounts due or to become due hereunder, or recovery of the possession of the Truck Stop in the hands of an attorney, or files suit upon same, Operator agrees to pay Establishment Licensee's reasonable attorney's fees and the other costs and expenses of Establishment Licensee incurred to enforce this Operating Agreement.
