Common use of Defaults by Lessor Clause in Contracts

Defaults by Lessor. The occurrence of any one or more of the following events shall constitute a material default and a breach of this Agreement by Lessor: (a) Failure to perform any of the material obligations required of Lessor to be performed, provided that such failure continues for a period of thirty (30) days after written notice thereof from Lessee to Lessor, which notice shall specify the specific nature of the failure, provided, however, that if the nature of Lessor's default is such that more than thirty (30) days are reasonably required for its cure, than Lessor shall not be deemed to be in default if Lessor commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion; or (b) If bad debt exceeds five (5) percent during any consecutive three (3) month period; normal bad debt being three (3) percent of gross receipts; or (c) Failure of the Property ownership or management to present either the Telephone System or the Television System in a positive manner to prospective residents or prospective clients; or (d) Failure to remove or correct any mechanical, electrical or any other type of interference that was caused by any device installed by Lessor during the term of this Agreement that would prevent or hinder Lessee in providing quality telephone and/or television service to the property.

Defaults by Lessor. The occurrence of any one or more of the following followin events shall constitute a material default and a breach of this Agreement by Lessor: (a) Failure to perform any of the material obligations required of Lessor to be performed, provided that such failure continues for a period of thirty (30) days after written notice thereof from Lessee to Lessor, which notice shall specify the specific nature of the failure, provided, however, that if the nature of Lessor's default is such that more than thirty (30) days are reasonably required for its cure, than Lessor shall not be deemed to be in default if Lessor commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion; or (b) If bad debt exceeds five (5) percent during any consecutive three (3) month period; normal bad debt being three (3) percent of gross receipts; or (c) Failure of the Property ownership or management to present either the Telephone System or the Television System in a positive manner to prospective residents or prospective clients; or (d) Failure to remove or correct any mechanical, electrical or any other type of interference that was caused by any device installed by Lessor during the term of this Agreement that would prevent or hinder Lessee in providing quality telephone and/or television service to the property.