Events of Default by District Defined. The following shall be “Events of Default” of the District under this Facilities Lease. The terms “
Events of Default by District Defined. The following shall be “Events of Default” of the District under this Facilities Lease. The terms “Event of Default” and “Default” shall mean, whenever they are used as to the District in the Site Lease or this Facilities Lease, shall only be one or more of the following events: Failure by the District to pay payments required pursuant to the Guaranteed Project Cost Provisions indicated in Exhibit C, and the continuation of such failure for a period of forty-five (45) days. Failure by the District to perform any material covenant, condition or agreement in this Facilities Lease and that failure continues for a period of forty-five (45) days after Contractor provides District 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, Contractor shall not unreasonably withhold its consent to an extension of such time if corrective action is instituted by the District within the applicable period and diligently pursued until the default is corrected.
