Common use of Default of Tenant Clause in Contracts

Default of Tenant. Each of the following shall be an "Event of Default" under this Lease: (a) any failure of Tenant to pay any rent when due and such failure continues uncured for fifteen (15) days after Landlord gives Tenant notice of such failure; (b) any failure of Tenant to perform any other of the terms, conditions or covenants of this Lease to be performed by Tenant and such failure continues uncured for thirty (30) days after written notice from Landlord specifying such failure, except that in cases where Tenant cannot reasonably cure within said thirty (30) day period, only if Tenant fails to commence to cure within such thirty (30) day period and thereafter to diligently continue to cure the same until fully corrected; and (c) if both (i) Tenant's estate created by this Lease shall be taken upon execution, attachment or other process of law, and any such execution, attachment or other process be not vacated or set aside within thirty (30) days thereafter, or if Tenant shall be adjudged as bankrupt, or if Tenant shall file a voluntary petition in bankruptcy, or if an involuntary petition in bankruptcy be filed and not vacated or set aside within ninety (90) days thereafter, and (ii) there otherwise occurs an Event of Default as specified in subparagraphs "(a)" and "

Appears in 2 contracts

Samples: Agreement of Sale (Plug Power Inc), Lease Agreement (Mechanical Technology Inc)

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Default of Tenant. Each of the following shall be an "Event of Default" under this Lease: (a) any failure of Tenant to pay any rent when due and such failure continues uncured for fifteen (15) days after Landlord gives Tenant notice of such failure; (b) any failure of Tenant to perform any other of the terms, conditions or covenants of this Lease to be performed by Tenant and such failure continues uncured for thirty (30) days after written notice from Landlord specifying such failure, except that in cases where Tenant cannot reasonably cure within said thirty (30) day period, only if Tenant fails to commence to cure within such thirty (30) day period and thereafter to diligently continue to cure the same until fully corrected; and (c) if both (i) Tenant's estate created by this Lease shall be taken upon execution, attachment or other process of law, and any such execution, attachment or other process be not vacated or set aside within thirty (30) days thereafter, or if Tenant shall be adjudged as bankrupt, or if Tenant shall file a voluntary petition in bankruptcy, or if an involuntary petition in bankruptcy be filed and not vacated or set aside within ninety (90) days thereafter, and (ii) there otherwise occurs an Event of Default as specified specifi ed in subparagraphs "(a)" and "(b)" above.

Appears in 1 contract

Samples: Agreement of Sale (Plug Power Inc)

Default of Tenant. Each a) For purposes of this Lease, any of the following shall be an constitute a "Event of Tenant Default" under this Lease: ": (ai) any failure of Tenant to pay any rent when Base Rent or any installment of Tenant's TI Contribution due and such failure continues uncured for fifteen hereunder within ten (1510) days after Landlord gives Tenant written notice of default (provided, however, that if Lessor shall give three such failure; notices in any twelve month period, no notice of any further default shall be required during the balance of the twelve month period commencing the first date of such notice); or (bii) any failure of Tenant to pay any Additional Rent which is not being contested in good faith pursuant to the provisions of Section 6(c) hereof within ten (10) days after written notice of default; or (iii) any failure of Tenant to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant and such failure continues uncured for more than thirty (30) days after written notice from Landlord specifying of such failurefailure shall have been given to Tenant; provided, except however, that in cases where Tenant if such default cannot reasonably cure with due diligence be wholly cured within said such thirty (30) day perioddays, only if Tenant fails shall have such longer period as may be reasonably necessary to cure the default, so long as Lessor proceeds promptly to commence to the cure of same within such thirty (30) day period and thereafter diligently prosecutes the cure to diligently continue to cure the same until fully corrected; and completion, or (civ) if both (i) Tenant's estate created by Tenant or any guarantor of this Lease shall be taken upon execution, attachment file or other process have filed against it any petition or claim for relief under any federal or state law relating to bankruptcy or insolvency or for reorganization or for the appointment of law, and any such execution, attachment a receiver or other process be not vacated or set aside within thirty (30) days thereafter, or if Tenant shall be adjudged as bankrupt, or if Tenant shall file a voluntary petition in bankruptcy, or if an involuntary petition in bankruptcy be filed and not vacated or set aside within ninety (90) days thereafter, and (ii) there otherwise occurs an Event trustee of Default as specified in subparagraphs "(a)" and "all or

Appears in 1 contract

Samples: Office/Warehouse Lease (Manufacturers Services LTD)

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Default of Tenant. Each of the following shall be an "Event of Default" under this Lease:; (a) any failure of Tenant to pay any rent Rent or Additional Rent when due and such failure continues uncured for fifteen five (155) days after Landlord gives Tenant notice of such failure;due date; or (b) any failure of Tenant to perform any other of the terms, conditions or covenants of this Lease to be performed by Tenant and such failure continues uncured for thirty (30) days after written notice from Landlord specifying such failure, except that in cases where Tenant cannot reasonably cure within said the thirty (30) day period, only if Tenant fails to commence to cure within such thirty (30) day period and thereafter to diligently continue to cure the same until fully corrected; and (c) if both (i) Tenant's estate created by this Lease shall be taken upon execution, attachment or other process of law, and any such execution, attachment or other process be not vacated or set aside within thirty (30) days thereafter, or if Tenant shall be adjudged as bankrupt, or if Tenant shall file a voluntary petition in bankruptcy, or if an involuntary petition in bankruptcy be filed and not vacated or set aside within ninety (90) days thereafter, and (ii) there otherwise occurs an Event of Default as specified in subparagraphs "(a)" and "

Appears in 1 contract

Samples: Lease Agreement (National Medical Health Card Systems Inc)

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