Common use of Default in Other Covenants Clause in Contracts

Default in Other Covenants. Failure of Lessee to comply with any term or condition or fulfill any obligation of the Vehicle Lease (other than the payment of rent or other charges) within twenty (20) calendar days after written notice by LCOG specifying the nature of the default with reasonable particularity. If the default is of such a nature that it cannot be completely remedied within the twenty (20) calendar day period, this provision shall be complied with if Lessee begins correction of the default within the twenty (20) calendar day period and thereafter proceeds with reasonable diligence and in good faith to effect the remedy as soon as practicable. Lessee shall be entitled to only one (1) such notice in each Vehicle Lease year and subsequent defaults of any condition or obligation of the Vehicle Lease shall permit LCOG to proceed with all available remedies without further notice to Lessee being required.

Default in Other Covenants. Failure of Lessee to comply with any term or condition or fulfill any obligation of the Vehicle Lease (other than the payment of rent or other charges) within twenty (20) 20 calendar days after written notice by LCOG LTD specifying the nature of the default with reasonable particularity. If the default is of such a nature that it cannot be completely remedied within the twenty (20) 20 calendar day period, this provision shall be complied with if Lessee begins correction of the default within the twenty (20) 20 calendar day period and thereafter proceeds with reasonable diligence and in good faith to effect the remedy as soon as practicable. Lessee shall be entitled to only one (1) such notice in each Vehicle Lease year and subsequent defaults of any condition or obligation of the Vehicle Lease shall permit LCOG LTD to proceed with all available remedies without further notice to Lessee being required.