Common use of DEFAULTS BY LESSEE Clause in Contracts

DEFAULTS BY LESSEE. The occurrence of any one or more of the following events shall constitute a material default and breach of this Agreement by Lessee: (a) The vacating or abandonment of the Premises by Lessee; or (b) The failure by Lessee to make any payment of rent or any other payment required to be made by Lessee hereunder, as and when due, where such failure shall continue for a period of three (3) days after written notice thereof from Lessor to Lessee. In the event that Lessor serves Lessee with a Notice to Pay Rent or Quit pursuant to applicable Unlawful Detainer statutes, such Notice to Pay Rent or Quit shall not constitute the notice required by this subparagraph; or (c) The failure by Lessee to observe or perform any of the covenants, conditions or provisions of this Agreement to be observed or performed by Lessee, other than as described in paragraph (b) above, where such failure continues for a period of thirty (30) days after written notice thereof from Lessor to Lessee; provided, however, that if the nature of Lessee's default is such that more than thirty (30) days are reasonably required for its cure, then Lessee shall not be deemed to be in default if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion; or (d) The occurrence of any two (2) audits during any twelve (12) month period disclosing that Lessee has understated its receipts by three percent (3 %) or more as described in Paragraph 4.2 above; or (e) Failure of Lessee to maintain the Television System or Telephone System in good condition and repair comparable with similar services, where such failure continues for a period of fifteen (15) days after written notice thereof from Lessor to Lessee; or (f) Failure of Lessee to provide telephone service or television service to residents of the Project comparable with similar services, or to make service calls upon request in a prompt fashion as provided herein, where Such failure continues for a period of five (5) days after written notice thereof from Lessor to Lessee (provided that Lessee shall not be entitled to such five (5) day "cure" period upon the second (2nd) to occur of any such failure within any thirty (30) day period), except for any failure which results from the failure of a tenant to timely pay its bills for telephone or television services rendered, destruction of equipment without fault of Lessee (provided, however, that such destroyed equipment is to be promptly replaced and repaired by Lessee at its cost), or other commercially acceptable cause reasonably beyond the control of Lessee; or (g) Failure of Lessee to provide telephone or television services at rates equal to or less than those charged by the applicable public utility or local cable franchise, as the case may be, where such failure continues for a period of thirty (30) days after written notice thereof from Lessor to Lessee; or (h) The filing, of a voluntary petition of bankruptcy by Lessee or the filing of an involuntary petition by Lessee's creditors, with such petition remaining undischarged for a period of sixty (60) days; or (i) A general assignment by Lessee for the benefit of creditors; or (j) An appointment of a receiver to take possession of substantially all of Lessee's assets or of the Premises, with such receivership remaining undissolved for a period of sixty (60) days; or (k) The attachment, execution or other judicial seizure of substantially all of Lessee's assets or the Premises, with such attachment, execution or seizure remaining undismissed for period of sixty (60) days.

DEFAULTS BY LESSEE. The occurrence of any one or more of the following events shall constitute a material default and breach of this Agreement by LesseeAgreement: (a) The vacating or abandonment of the Premises Equipment Room/s by Lessee; or (b) The failure by of Lessee to make any payment of rent or any other payment required to be tobe made by Lessee hereunder, as and when due, where such failure shall continue for a period of three five (35) days after written notice thereof from Lessor to Lessee. In the event that Lessor serves Lessee with a Notice to Pay Rent or Quit pursuant Pursuant to applicable Unlawful unlawful Detainer statutes, such Notice to Pay Rent or Quit shall not constitute the notice required by this subparagraph; or (c) The failure by Lessee to observe or perform any of the covenants, conditions or provisions of this Agreement to be observed or performed by Lessee, other than as described in paragraph Paragraph (b) above, where such failure continues for a period of thirty (30) days after written notice thereof from Lessor to Lessee; , which notice shall specify the specific nature of the failure, provided, however, that if the nature of Lessee's default is such that more than thirty (30) days are reasonably required for its cure, then than Lessee shall not be deemed to be in default if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion; or (d) The occurrence of any two (2) audits during any twelve (12) month period disclosing that Lessee has understated its receipts by three percent (3 3%) or more as described in Paragraph 4.2 above; or (e) Failure of Lessee to maintain the Telephone System and/or Television System or Telephone System in good condition and repair comparable with similar services, where such failure continues for a period of fifteen (15) days after written notice thereof from Lessor to Lessee; or (f) Failure of Lessee to provide state of the art telephone service or and/or television service to residents of the Project comparable with similar services, or to make service calls upon request in a prompt fashion as provided herein, where Such such failure continues for a period of five (5) days after written notice thereof from Lessor to Lessee (provided that Lessee shall not be entitled to such five (5) day "cure" period upon the second (2nd) to occur occurrence of any such failure within any thirty (30) day period), except for any failure which results from the failure of a tenant to timely pay its bills for telephone or television services rendered, destruction of equipment without fault of be Lessee (provided, however, however that such destroyed equipment is to be promptly replaced and repaired by Lessee at its cost), or other commercially acceptable cause reasonably beyond the control of Lessee; or (g) Failure of Lessee to provide telephone or television services at rates equal equal, to or less than those charged by the applicable public utility or local cable franchise, as the case may beutility, where such failure continues for a period of thirty (30) days after written notice thereof from Lessor to Lessee; or (h) The filing, of a voluntary petition of bankruptcy by Lessee or the filing of an involuntary petition by Lessee's creditors, with such petition remaining undischarged for a period of sixty (60) days; or (i) A general assignment by Lessee for the benefit of creditors; or (j) An appointment of a receiver to take possession Possession of substantially all of Lessee's assets or of the Premises, with such receivership remaining undissolved for a period of sixty (60) days; or (ki) The attachment, execution or other judicial seizure of if substantially all of Lessee's assets or the Premises, with such attachment, execution or seizure remaining undismissed for a period of sixty (60) days.

DEFAULTS BY LESSEE. The occurrence of any one or more of the following events shall constitute a material default and breach of this Agreement by Lessee: (a) The vacating or abandonment of the Premises by Lessee; or (b) The failure by Lessee to make any payment of rent or any other payment required to be made by Lessee hereunder, as and when due, where such failure shall continue for a period of three (3) days after written notice thereof from Lessor to Lessee. In the event that Lessor serves Lessee with a Notice to Pay Rent or Quit pursuant to applicable Unlawful unlawful Detainer statutes, such Notice to Pay Rent or Quit shall not constitute the notice required by this subparagraph; or (c) The failure by Lessee to observe or perform any of the covenants, conditions or provisions of this Agreement to be observed or performed by Lessee, other than as described in paragraph (b) above, where such failure continues for a period of thirty (30) days after written notice thereof from Lessor to Lessee; provided, however, that if the nature of Lessee's default is such that more than thirty (30) days are reasonably required for its cure, then Lessee shall not be deemed to be in default if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion; or (d) The occurrence of any two (2) audits during any twelve (12) month period disclosing that Lessee has understated its receipts by three percent (3 3%) or more as described in Paragraph paragraph 4.2 above; or (e) Failure of Lessee to maintain the Television System or Telephone System in good condition and repair comparable with similar services, where such failure continues for a period of fifteen (15) days after written notice thereof from Lessor to Lessee; or (f) Failure of Lessee to provide telephone service or television service to residents of the Project comparable with similar services, or to make service calls upon request in a prompt fashion as provided herein, where Such such failure continues for a period of five (5) days after written notice thereof from Lessor to Lessee (provided that Lessee shall not be entitled to such five (5) day "cure" period upon the second (2nd) to occur of any such failure within any thirty (30) day period), except for any failure which results from the failure of a tenant to timely pay its bills for telephone or television services rendered, destruction of equipment without fault of Lessee (provided, however, that such destroyed equipment is to be promptly replaced and repaired by Lessee at its cost), or other commercially acceptable cause reasonably beyond the control of Lessee; or (g) Failure of Lessee to provide telephone or television services at rates equal to or less than those charged by the applicable public utility or local cable franchise, as the case may be, where such failure continues for a period of thirty (30) days after written notice thereof from Lessor to Lessee; or (h) The filing, filing of a voluntary petition of bankruptcy by Lessee or the filing of an involuntary petition by Lessee's creditors, with such petition remaining undischarged for a period of sixty (60) days; or (i) A general assignment by Lessee for the benefit of creditors; or (j) An appointment of a receiver to take possession of substantially all of Lessee's assets or of the Premises, with such receivership remaining undissolved for a period of sixty (60) days; or (k) The attachment, execution or other judicial seizure of substantially all of Lessee's assets or the Premises, with such attachment, execution or seizure remaining undismissed for period of sixty (60) days.