Common use of DEFAULT OF LESSEE Clause in Contracts

DEFAULT OF LESSEE. A. If default is made by Lessee in the observance, or per- formance of any of the provisions, terms or conditions hereof other than provisions providing for the payment of rents, and such default shall continue for thirty (30) days after written demand for performance specifying the nature of the default claimed, given by Lessor to Lessee, or should Lessee abandon the Leased Premises or any part thereof, then, at its option, Lessor, its successors or assigns, may, without notice or process of law, re-enter and take possession of the Leased Premises and remove all persons and all Lessee's property therefrom, and, if necessary, place Lessee's personal property in storage at the expense and risk of Lessee; and to seek enforcement by suit of the provisions hereof on the part of the Lessee required to be kept or performed. Lessee shall not be deemed in default if said default cannot with due diligence be cured within the aforementioned thirty (30) day period and prior to the expiration of such thirty (30) days, Lessee commences to eliminate the cause of such default and proceeds diligently and with reasonable dispatch to take all steps and do all things required to cure such default and does so cure such default within a reasonable time thereafter. B. In case the Lessee shall fail to pay when due any rent or other money coming due to Lessor hereunder, the Lessor shall have the right after five (5) days written notice of such default, to terminate this Lease to the same extent and with all legal incidents as though the Lease Term had expired by efflux of time, except that the Lessee shall have the right to reinstate said Lease by payment in full of all rents and monies due and owing within said five (5) day period; and if Lessee fails to cure said default, it shall be lawful for the Lessor or its agents, to re-enter the Leased Premises and repossess itself of said Leased Premises as of its original estate, and the Lessor may have any other remedies available to it either in equity or at law. C. No re-entry upon the Leased Premises by the Lessor shall be construed as an election on its part to terminate this Lease unless written notice of such intention is given to the Lessee. D. No receipt of monies by Lessor f from Lessee, after the termination for any cause of this Lease shall reinstate, continue or extend the terms of this Lease, it being agreed that, after the commence- ment of a suit or after final judgment for possession of the Leased Premises, the payment of any monies shall not waive or affect said suit or judgment, except by mutual written agreement between Lessor and Lessee.

DEFAULT OF LESSEE. A. If default is (I) Lessee shall fail to pay any monthly installment of Monthly Base Rent or any other Rent as reserved hereunder when and as the same are due (although no legal or formal demand shall have been made by Lessee in the observancetherefor), or per- formance of (ii) Lessee shall violate or fail to perform any of the provisionsother conditions, terms covenants or conditions hereof other than provisions providing for the payment of rentsagreements herein made or imposed upon Lessee, and such default violation or failure shall continue for a period of ten (10) days after written notice thereof to Lessee from Lessor (provided that, for any default which cannot reasonably be cured within said ten (10) day period, the cure period therefor shall be extended for such time as is reasonably necessary to effect a cure of such default (but in no event beyond forty-five (45) days after delivery of notice of such default), on the conditions that Lessee immediately commences to cure such default and diligently pursues such cure to completion, and that, promptly upon determining that the aforesaid ten (10) day cure period is inadequate, Lessee shall deliver notice to Landlord of the steps being taken to cure such default and the amount of time reasonably estimated by Lessee to effect such cure; but provided further that, no notice or cure period shall be required to be provided with regard to any intentional or willful default by Lessee hereunder, or with regard to any default which (A) by its nature cannot be cured (or cannot be cured within the aforesaid forty-five (45) day period), (B) constitutes a hazard to the health and/or safety of any occupant of the Property, (C) has caused the insurer of any policy of insurance on the Property to issue a notice of cancellation of such policy, (D) involves the failure by the Lessee to maintain any insurance required to be maintained by Lessee hereunder, or (E) subjects Landlord to the risk of civil or criminal liability, fine, penalty or prosecution), or (iii) if (a) Lessee becomes "insolvent," as defined in Title 11 of the United States Code, entitled "Bankruptcy," 11 U.S.C. Section 101, et seq. (the "Bankruptcy Code"), or under the insolvency laws of any State, District, Commonwealth or Territory of the United States of America ("Insolvency Laws"), (b) a receiver or custodian is appointed for any or all of Lessee's property or assets, or if there is instituted a foreclosure action on any of Lessee's property, (c) Lessee files a voluntary petition under the Bankruptcy Code or any Insolvency Laws, (d) there is filed an involuntary petition against Lessee as the subject debtor under Bankruptcy Code or any Insolvency Laws, which such petition is not dismissed within thirty (30) days after written demand of filing or results in issuance of an order for performance specifying relief against the nature of the default claimed, given by Lessor to LesseeLessee as debtor, or should (e) Lessee abandon the Leased Premises makes or any part thereof, then, at its option, Lessor, its successors or assigns, may, without notice or process of law, re-enter and take possession of the Leased Premises and remove all persons and all Lessee's property therefrom, and, if necessary, place Lessee's personal property in storage at the expense and risk of Lessee; and consents to seek enforcement by suit of the provisions hereof on the part of the Lessee required to be kept or performed. Lessee shall not be deemed in default if said default cannot with due diligence be cured within the aforementioned thirty (30) day period and prior to the expiration of such thirty (30) days, Lessee commences to eliminate the cause of such default and proceeds diligently and with reasonable dispatch to take all steps and do all things required to cure such default and does so cure such default within a reasonable time thereafter. B. In case the Lessee shall fail to pay when due any rent or other money coming due to Lessor hereunder, the Lessor shall have the right after five (5) days written notice of such default, to terminate this Lease to the same extent and with all legal incidents as though the Lease Term had expired by efflux of time, except that the Lessee shall have the right to reinstate said Lease by payment in full of all rents and monies due and owing within said five (5) day period; and if Lessee fails to cure said default, it shall be lawful for the Lessor or its agents, to re-enter the Leased Premises and repossess itself of said Leased Premises as an assignment of its original estate, and the Lessor may have any other remedies available to it either in equity or at law. C. No re-entry upon the Leased Premises by the Lessor shall be construed as an election on its part to terminate this Lease unless written notice of such intention is given to the Lessee. D. No receipt of monies by Lessor f from Lessee, after the termination for any cause of this Lease shall reinstate, continue or extend the terms of this Lease, it being agreed that, after the commence- ment of a suit or after final judgment for possession of the Leased Premises, the payment of any monies shall not waive or affect said suit or judgment, except by mutual written agreement between Lessor and Lessee.assets,

DEFAULT OF LESSEE. A. If Any of the following events shall be a default is made by Lessee of Lessee: (a) Lessee's default in the observancepayment on the due date of the Basic Rents and/or additional rents and/or any other payment required of Lessee by this Lease, or per- formance unless Lessee shall cure such default within five (5) days after the due date of such Basic Rent and/or additional rent and/or other payment required of Lessee hereunder; (b) Lessee's default in the performance of any of the provisions, terms other covenants of Lessee or conditions hereof other than provisions providing for the payment of rentsthis Lease, and unless Lessee shall cure such default shall continue for within thirty (30) days after written demand for performance specifying the nature notice of the such default claimed, given by Lessor to Lessee(or if any such default is of such nature that it cannot be completely cured within such period, or should Lessee abandon the Leased Premises or any part thereof, then, at its option, Lessor, its successors or assigns, may, without notice or process of law, re-enter and take possession of the Leased Premises and remove all persons and all Lessee's property therefrom, and, if necessary, place Lessee's personal property in storage at the expense and risk of Lessee; and to seek enforcement by suit of the provisions hereof on the part of the Lessee required to be kept or performed. then unless Lessee shall not be deemed in default if said default cannot with due diligence be cured commence such curing within the aforementioned thirty (30) day period and prior to the expiration of such thirty (30) days, Lessee commences to eliminate the cause days after notice of such default given by Lessor and proceeds diligently and shall thereafter proceed with reasonable dispatch to take all steps due diligence and do all things required in good faith to cure such default and does so cure shall succeed in curing such default within a reasonable time thereafter. B. In case the Lessee shall fail to pay when due any rent or other money coming due to Lessor hereunder, the Lessor shall have the right after five (5) days written notice of such default, to terminate this Lease to the same extent and with all legal incidents as though the Lease Term had expired by efflux period of time, except and provided that the Lessee shall have the right existence of such default for more than fifteen (15) days does not, in Lessor's reasonable judgment, itself result in substantial damages to reinstate said Lease Lessor and place Lessor in risk of substantial damage by payment in full of all rents and monies due and owing within said five (5) day period; and if Lessee fails such additional time to cure said such default, it shall be lawful for the Lessor or its agents, to re-enter the Leased Premises and repossess itself ); (c) insolvency of said Leased Premises Lessee as of its original estate, and the Lessor may have any other remedies available to it either set forth in equity or at law. C. No re-entry upon the Leased Premises by the Lessor shall be construed as an election on its part to terminate this Lease unless written notice of such intention is given to the Lessee. D. No receipt of monies by Lessor f from Lessee, after the termination for any cause of this Lease shall reinstate, continue or extend the terms Paragraph 13 of this Lease; (d) the sale or attempted sale by or under execution or other, it being agreed thatlegal process of Lessee's leasehold interest hereunder and/or substantially all of Lessee's other assets; (e) the initiation of legal proceedings to effect, after or resulting in, the commence- ment seizure, sequestering or impounding of a suit any of Lessee's goods or after final judgment for possession chattels used in, or incident to, the operation of the Leased Premises, Premises by Lessee; (f) assignment by operation of law of Lessee's leasehold interest hereunder; (g) any attempt by Lessee to assign the payment within Lease or Sublet the Demised Premises without the express prior written consent of the Lessor; or (h) any monies shall not waive act or affect said suit omission of Lessee constituting an anticipatory breach or judgment, except by mutual written agreement between Lessor and Lesseerepudiation of this Lease.

DEFAULT OF LESSEE. A. If 22.1. Each of the following shall, if not cured within the time periods prescribed in Section 22.2. hereof, constitute an event of default (each, ---- an "Event of Default") under this Sublease: ---------------- (a) The Rent or any additional rent is made by not paid within five (5) days of the due date. (b) Lessee fails or is unable to pay its debts generally as they become due. (c) Lessee transfers property in fraud of creditors. (d) Lessee makes an assignment for the observance, benefit of creditors. (e) A receiver or per- formance of trustee is appointed for any of the provisions, terms or conditions hereof other than provisions providing for the payment of rents, Lessee's assets and such default appointment is not vacated within thirty (30) days. (f) Lessee fails to comply with any term, provision, covenant or condition of this Sublease. 22.2. Lessor shall continue for give Lessee notice of each and every Event of Default as it or they occur and Lessee shall have ten (10) days from the date of such notice to cure any and all Events of Default described in Section 22.1(a) hereof and ---------------- thirty (30) days after written demand for performance specifying from the nature date of the default claimed, given by Lessor such notice to Lessee, cure (or should Lessee abandon the Leased Premises or any part thereof, then, at its option, Lessor, its successors or assigns, may, without notice or process of law, re-enter commence and take possession of the Leased Premises and remove all persons and all Lessee's property therefrom, andprosecute a good faith effort to cure, if necessary, place Lessee's personal property in storage at the expense and risk an Event of Lessee; and to seek enforcement by suit of the provisions hereof on the part of the Lessee required to be kept or performed. Lessee shall not be deemed in default if said default Default cannot with due diligence reasonably be cured within such thirty-day period) any and all Events of Default described in Section 22.1(b)-(h) hereof. ------------------- 22.3. Upon notice to Lessee by Lessor of the aforementioned thirty (30) day period occurrence of an Event of Default and prior to the expiration failure of such thirty (30) days, Lessee commences to eliminate the cause of such default and proceeds diligently and with reasonable dispatch to take all steps and do all things required to cure such default and does so cure such default Event of Default within a reasonable the time thereafter. B. In case the Lessee shall fail to pay when due any rent or other money coming due to Lessor hereunderperiods stated above, the Lessor shall have the right after five and option (51) days written notice of such default, to terminate this Lease Sublease by written notice to the same extent and with all legal incidents as though the Lease Term had expired by efflux of time, except that the Lessee (in which event Lessee shall have immediately surrender the right Sublet Premises to reinstate said Lease by payment in full of Lessor) and retain all rents and monies (including a security deposit, if applicable) received from Lessee (but without prejudice to Lessor's rights to recover from Lessee any amounts remaining to be paid under the Sublease, including the Rent not yet due and owing within said five payable), or (52) day period; to enter the Sublet Premises and if remove Lessee fails and Lessee's property therefrom with or without force and without being liable to cure said defaultLessee in any manner whatsoever for any damage, and to attempt to relet the Sublet Premises for Lessee's account on such terms as Lessor alone shall determine, or (3) to continue this Sublease and xxx for Lessee's performance hereunder (including payment of the Rent or any additional rent as it becomes due). In all events, Lessor shall be lawful entitled to recover from Lessee all costs and expenses incurred by Lessor as a result of an Event of Default, including reasonable attorneys' fees. The proceeds of any reletting during the term of this Sublease shall be applied first to all expenses incurred as a result of Lessee's default and of such reletting (including, without limitation, reasonable attorneys' fees, leasing commissions and the cost of any alterations and redecorating of the Sublet Premises that Lessor deems to be desirable) and second to payment of the Rent and any additional rent due hereunder. Lessee shall be liable to Lessor for any deficiency (including all costs of collection and reasonable attorneys' fees) but shall not be entitled to any surplus that may arise. 22.4. The remedies provided Lessor above are in addition to, and not in lieu of, any other rights and remedies Lessor may have under this Sublease, at law or in equity. No delay by Lessor in the Lessor or its agents, enforcement of the provisions of this Sublease shall be deemed to re-enter the Leased Premises and repossess itself constitute a waiver of said Leased Premises as any default of its original estateLessee, and the pursuit by Lessor may have of one or more remedies shall not be deemed to constitute an election of remedies to the exclusion of any other remedies available to it either in equity or at law. C. No re-entry upon the Leased Premises by the remedy. Notwithstanding any other provision of this Sublease, Lessor shall be construed as an election on its part under no obligation to terminate this Lease unless written notice of such intention is given to relet the Lessee. D. No receipt of monies by Lessor f from Sublet Premises if Lessee, after the termination for any cause of this Lease shall reinstatereason whatsoever, continue or extend vacates the terms of this Lease, it being agreed that, after Sublet Premises before the commence- ment of a suit or after final judgment for possession end of the Leased Premises, the payment of any monies shall not waive or affect said suit or judgment, except by mutual written agreement between Lessor and LesseeTerm.

DEFAULT OF LESSEE. A. If Any of the following events shall be a default is made by Lessee of Lessee: (i) Lessee's default in the observancepayment on the due date of the Basic Rents and/or additional rents and/or any other payment required of Lessee by this Lease, or per- formance unless Lessee shall cure such default within five (5) days after the due date of such Basic Rent and/or additional rent and/or other payment required of Lessee hereunder; (ii) Lessee's default in the performance of any of the provisions, terms other covenants of Lessee or conditions hereof other than provisions providing for the payment of rentsthis Lease, and unless Lessee shall cure such default shall continue for thirty within fifteen (3015) days after written demand for performance specifying the nature notice of the such default claimed, given by Lessor to Lessee(or if any such default is of such nature that it cannot be completely cured within such period, or should Lessee abandon the Leased Premises or any part thereof, then, at its option, Lessor, its successors or assigns, may, without notice or process of law, re-enter and take possession of the Leased Premises and remove all persons and all Lessee's property therefrom, and, if necessary, place Lessee's personal property in storage at the expense and risk of Lessee; and to seek enforcement by suit of the provisions hereof on the part of the Lessee required to be kept or performed. then unless Lessee shall not be deemed in default if said default cannot with due diligence be cured commence such curing within the aforementioned thirty fifteen (3015) day period and prior to the expiration of such thirty (30) days, Lessee commences to eliminate the cause days after notice of such default given by Lessor and proceeds diligently and shall thereafter proceed with reasonable dispatch to take all steps due diligence and do all things required in good faith to cure such default and does so cure shall succeed in curing such default within a reasonable time thereafter. B. In case the Lessee shall fail to pay when due any rent or other money coming due to Lessor hereunder, the Lessor shall have the right after five (5) days written notice of such default, to terminate this Lease to the same extent and with all legal incidents as though the Lease Term had expired by efflux period of time, except and provided that the Lessee shall have the right existence of such default for more than fifteen (15) days does not, in Lessor's reasonable judgment, itself result in substantial damages to reinstate said Lease Lessor and place Lessor in risk of substantial damage by payment in full of all rents and monies due and owing within said five (5) day period; and if Lessee fails such additional time to cure said such default); (iii) insolvency of Lessee as set forth in the preceding paragraph above; (iv) the sale or attempted sale by or under execution or other legal process of Lessee's leasehold interest hereunder and/or substantially all of Lessee's other assets; (v) the initiation of legal proceedings to effect, it shall be lawful for or resulting in, the Lessor seizure, sequestering or its agentsimpounding of any of Lessee's goods of chattels used in, to re-enter or incident to, the Leased Premises and repossess itself operation of said Leased Premises as of its original estate, and the Lessor may have any other remedies available to it either in equity or at law. C. No re-entry upon the Leased Premises by Lessee; (vi) assignment by operation of law of Lessee's leasehold interest hereunder; (vii) any attempt by Lessee to assign the Lessor shall be construed as an election on its part to terminate this within Lease unless or sublet the Demised Premises without the express prior written notice consent of such intention is given to the Lessee. D. No receipt Lessor; or (viii) any act of monies by Lessor f from Lessee, after the termination for any cause omission of this Lease shall reinstate, continue Lessee constituting and anticipatory breach or extend the terms repudiation of this Lease, it being agreed that, after the commence- ment of a suit or after final judgment for possession of the Leased Premises, the payment of any monies shall not waive or affect said suit or judgment, except by mutual written agreement between Lessor and Lessee.