Common use of Definition of Event of Default Clause in Contracts

Definition of Event of Default. Each one of the following events constitutes an “Event of Default”: (i) Any failure by Tenant to pay rent or other monetary sums required to be paid hereunder on the date such sums are due and the continuance of such failure for a period of thirty (30) days after written notice of such failure from Landlord. (ii) The filing of any petition or the commencement of any case or proceeding by Tenant under any provision or chapter of the federal Bankruptcy Act, the federal Bankruptcy Code, or any other federal or state law relating to insolvency, bankruptcy, or reorganization, or the adjudication that Tenant is insolvent or bankrupt, or the entry of an order for relief under the federal Bankruptcy Code with respect to Tenant. (iii) The filing of any petition or the commencement of any case or proceeding described in Section 14.A.(ii) above against Tenant, unless such petition and all proceedings initiated thereby are dismissed within sixty (60) days from the date of such filing; the filing of an answer by Tenant admitting the allegations of any such petition; the appointment of or taking possession by a custodian, trustee or receive for all or any assets of Tenant, unless such appointment is vacated or dismissed within sixty (60) days from the date of such appointment. (iv) Tenant fails to perform any of the other material agreements, terms, covenants or conditions of the Lease on Tenant’s part to be performed, and such non-performance continues for a period of thirty (30) days after written notice thereof by Landlord to Tenant or, if such performance cannot reasonably be attained within such thirty (30) day period, Tenant does not in good faith commence such performance within such thirty (30) day period and does not diligently proceed therewith to completion.

Definition of Event of Default. Each one of the following events constitutes is herein referred to as an “Event of Default”: (i1) Any failure by Tenant Lessee to pay the rent or any other monetary sums required to be paid hereunder on the date such sums are due and the continuance of such failure for a period of thirty fifteen (3015) days after written notice of such failure from Landlord. (ii2) The filing of any petition or the commencement of any case or proceeding by Tenant Lessee under any provision or chapter of the federal Federal Bankruptcy Act, the federal Federal Bankruptcy Codecode, or any other federal or state law relating to insolvency, bankruptcy, or reorganization, reorganization or the adjudication that Tenant Lessee is insolvent or bankrupt, bankrupt or the entry of an order for relief under the federal Federal Bankruptcy Code with respect to TenantLessee. (iii3) The filing of any petition or the commencement of any case or proceeding described in Section 14.A.(iisubparagraph (2) above against TenantLessee, unless such petition and all proceedings initiated thereby are dismissed within sixty (60) days from the date of such filing; the filing of an answer by Tenant Lessee admitting the allegations of any such petition; the appointment of or taking possession by a custodian, trustee or receive receiver for all or any assets of TenantLessee, unless such appointment is vacated or dismissed within sixty (60) days from the date of such appointment. (iv4) Tenant fails Lessee shall fail to perform any of the other material agreements, agreements terms, covenants covenants, or conditions of the Lease hereof on TenantLessee’s part to be performed, performed and such non-performance continues shall continue for a period of thirty (30) days after written notice thereof by Landlord Lessor to Tenant Lessee or, if such performance cannot be reasonably be attained had within such thirty (30) day period, Tenant does Lessee shall not in good faith commence have commenced such performance within such thirty (30) day period and does shall not diligently proceed therewith to completion.

Definition of Event of Default. Each one of the following events constitutes is herein referred to as an “Event of Default.”: (i1) Any failure by Tenant to pay the rent or any other monetary sums required to be paid hereunder on the date such sums are due and the continuance of such failure for a period of thirty (30) days after written notice of such failure from Landlord. (ii2) After the Commencement Date, Tenant shall vacate or abandon the Premises, except that , mere vacation as may be necessary to facilitate the re-occupancy of the Premises for a permitted use pursuant to an assignment or subletting authorized under the terms of this Lease, or caused by any casualty or condemnation, or as ordered by any legal authority shall not constitute an Event of Default hereunder. (3) The filing of any petition or the commencement of any case or proceeding by Tenant under any provision or chapter of the federal Federal Bankruptcy Act, the federal Federal Bankruptcy Code, or any other federal or state law relating to insolvency, bankruptcy, or reorganization, reorganization or the adjudication that Tenant is insolvent or bankrupt, bankrupt or the entry of an order for relief under the federal Federal Bankruptcy Code with respect to Tenant. (iii4) The filing of any petition or the commencement of any case or proceeding described in Section 14.A.(iisubparagraph (3) above against Tenant, unless such petition and all proceedings initiated thereby are dismissed within sixty (60) days from the date of such filing; the filing of an answer by Tenant admitting the allegations of any such petition; the appointment of or taking possession by a custodian, trustee or receive receiver for all or any assets of Tenant, unless such appointment is vacated or dismissed within sixty (60) days from the date of such appointment. (iv5) The insolvency of Tenant or the execution by Tenant of an assignment for the benefit of creditors; the convening by Tenant of a meeting of its creditors, or any class thereof, for purposes of effecting a moratorium upon or extension or composition of its debts; or the failure of Tenant generally to pay its debts as they mature. (6) Tenant fails shall fail to take possession of the Premises on the Commencement Date. (7) Tenant shall fail to perform any of the other material agreements, agreements terms, covenants covenants, or conditions of the Lease hereof on Tenant’s part to be performed, performed and such non-performance continues shall continue for a period of thirty (30) days after written notice thereof by Landlord to Tenant or, if such performance cannot be reasonably be attained had within such thirty (30) day period, Tenant does shall not in good faith commence have commenced such performance within such thirty (30) day period and does shall not diligently proceed therewith to completion.

Definition of Event of Default. Each one of the following events constitutes is herein referred to as an “Event of Default.”: (i1) Any failure by Tenant to pay the rent or any other monetary sums required to be paid hereunder on the date such sums are due and the continuance of such failure for a period of thirty (30) days after written notice of such failure from Landlord. (ii2) After the Commencement Date, Tenant shall vacate or abandon the Premises, except that, mere vacation as may be necessary to facilitate the re-occupancy of the Premises for a permitted use pursuant to an assignment or subletting authorized under the terms of this Lease, or caused by any casualty or condemnation, or as ordered by any legal authority shall not constitute an Event of Default hereunder. (3) The filing of any petition or the commencement of any case or proceeding by Tenant under any provision or chapter of the federal Federal Bankruptcy Act, the federal Federal Bankruptcy Code, or any other federal or state law relating to insolvency, bankruptcy, or reorganization, reorganization or the adjudication that Tenant is insolvent or bankrupt, bankrupt or the entry of an order for relief under the federal Federal Bankruptcy Code with respect to Tenant. (iii4) The filing of any petition or the commencement of any case or proceeding described in Section 14.A.(iisubparagraph (3) above against Tenant, unless such petition and all proceedings initiated thereby are dismissed within sixty (60) days from the date of such filing; the filing of an answer by Tenant admitting the allegations of any such petition; the appointment of or taking possession by a custodian, trustee or receive receiver for all or any assets of Tenant, unless such appointment is vacated or dismissed within sixty (60) days from the date of such appointment. (iv5) The insolvency of Tenant or the execution by Tenant of an assignment for the benefit of creditors; the convening by Tenant of a meeting of its creditors, or any class thereof, for purposes of effecting a moratorium upon or extension or composition of its debts; or the failure of Tenant generally to pay its debts as they mature. (6) Tenant fails shall fail to take possession of the Premises on the Commencement Date. (7) Tenant shall fail to perform any of the other material agreements, agreements terms, covenants covenants, or conditions of the Lease hereof on Tenant’s part to be performed, performed and such non-performance continues shall continue for a period of thirty (30) days after written notice thereof by Landlord to Tenant or, if such performance cannot be reasonably be attained had within such thirty (30) day period, Tenant does shall not in good faith commence have commenced such performance within such thirty (30) day period and does shall not diligently proceed therewith to completion.