Events of Default by Contractor Defined. The following shall be “Events of Default” of the Contractor under this Master Facilities Lease. The terms “Event of Default” and “Default” shall mean, whenever they are used as to the Contractor in the Master Site Lease or this Master Facilities Lease, shall only be one or more of the following events:
Events of Default by Contractor Defined. The following shall be “Events of Default” of the Contractor under this Facilities Lease. The terms “Event of Default” and “Default” shall mean, whenever they are used as to the Contractor in the Site Lease or this Facilities Lease, shall only be one or more of the following events: Contractor unreasonably refuses or fails to prosecute the work on the Project with such reasonable diligence as will accomplish Project Completion within the Contract Time or any extension thereof; Prior to Project Completion, Contractor is adjudged a bankrupt, or files for bankruptcy, or if it should make a general assignment for the benefit of its creditors, or if a receiver should be appointed on account of its insolvency; Contractor persistently disregards applicable law as indicated in Exhibit D, or otherwise be in violation of Exhibit D. Failure by the Contractor to perform any material covenant, condition or agreement in this Facilities Lease and that failure continues for a period of seven (7) days after District provides Contractor with written notice specifying that failure and requesting that the failure be remedied; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, District shall not unreasonably withhold its consent to an extension of such time if corrective action is instituted by the Contractor within the applicable period and diligently pursued until the default is corrected.
