Common use of Definition of Default Clause in Contracts

Definition of Default. Landlord will be in default under this Lease if Landlord fails to comply with any material term, condition or obligation of Landlord under the Lease, and that failure continues for a period of thirty (30) days after Tenant gives Landlord written notice of failure, unless that failure cannot reasonably be cured with the thirty (30) day period, in which event the cure period will extend so long as Landlord has in good faith begun to take action to cure the default with the thirty (30) day period and diligently proceeds to completion thereafter.

Appears in 2 contracts

Samples: Lease (Southwest Casino Corp), Lease (Southwest Casino Corp)

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Definition of Default. Landlord will shall be in default under this Lease if Landlord fails shall fail to comply with any material term, condition or obligation of Landlord under the Lease, and that such failure to comply continues for a period of thirty (30) days after Tenant gives Landlord written notice of such failure, unless that such failure cannot reasonably be cured with the within such thirty (30) day period, in which event the cure period will shall extend so long as Landlord has in good faith begun to take action to cure the default with within the thirty (30) day period and diligently proceeds to completion thereafter.

Appears in 2 contracts

Samples: Lease (Southwest Casino Corp), Lease (Southwest Casino Corp)

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