Default Provisions. In addition to any Default arising under Section 20.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty ...
Default Provisions. The Grantee will be in default under this Grant Agreement if any of the following occur:
Default Provisions. If the Depositor does not choose any of the distribution methods under Article IV of this Agreement by the April 1st following the calendar year in which the Depositor reaches age 70 1/2, distribution shall be determined based upon the distribution period in the uniform lifetime distribution period table in Regulation section 1.401(a)(9)-9. However, no payment will be made until the Depositor provides the Custodian with a proper distribution request acceptable to the Custodian. The Custodian reserves the right to require a minimum balance in the Custodial Account in order to make periodic payments from the Custodial Account. Upon receipt of such distribution request, the Depositor may switch to a joint life expectancy in determining the required minimum distribution if the Depositor's spouse was the sole beneficiary as of January 1st of the distribution calendar year and such spouse is more than 10 years younger than the Depositor.
Default Provisions. The failure of an Investor General Partner to timely make a required additional Capital Contribution under this section results in his personal liability to the other Investor General Partners for the amount in default. The remaining Investor General Partners, in proportion to their respective number of Units, must pay the defaulting Investor General Partner’s share of Partnership liabilities and obligations called for by the Managing General Partner. In that event, the remaining Investor General Partners:
Default Provisions. The occurrence of one or more of the following events shall constitute an event of default:
Default Provisions. Funding Recipient will be in default under this Funding Agreement if any of the following occur:
Default Provisions. The occurrence and continuance of one or more of the following events shall constitute an event of default of this entire Agreement:
Default Provisions. (a) Any of the following occurrences or acts shall constitute an event of default (each, an "Event of Default") under this Lease:
Default Provisions. Developer shall be in default under this Agreement if:
Default Provisions. If LESSEE defaults under any provisions of this lease or fails to pay any amounts due to LESSOR, the LESSOR may, at its election, declare the lease in default, accelerate the rent due under this Lease, and proceed against LESSEE in any manner allowed by law. LESSEE shall pay collection charges and attorney's fees incurred by LESSOR in enforcing this lease. LESSEE shall pay an office charge of $300.00, due upon default of any lease terms. LESSEE agrees that the attorney's fee shall be equal to the greater of $750.00 plus $250.00 per hour in excess of three (3) hours, or 30% of the amount due to LESSOR at the time the account is turned over for collection. LESSEE agrees that said amount is reasonable. [LESSEE’S INITIALS]. The aforesaid fees or collection costs shall be due whether or not litigation is commenced by LESSOR. In addition, at the end of the school year, LESSEE agrees that any charges that LESSOR deems to be due pursuant to this lease shall be chargeable to the LESSEE's Student Account at Xxxxxxxx University and may also be collected in accordance with Xxxxxxxx University policy. The LESSEE agrees to allow LESSOR to pursue all legal claims and suits in the Circuit Court of Macon County, Illinois, thereby waiving any defense of lack of jurisdiction or venue in said suits. The LESSOR, attorney, or debt collector is granted permission to request a credit report on LESSEE and/or LESSEE's guarantor(s) or contact any of LESSES provided references at the time of application and/or if LESSEE's outstanding balance to LESSOR is past due over thirty (30) days.
