Common use of Events of Default by Lessee Clause in Contracts

Events of Default by Lessee. The occurrence of any of the following shall constitute a material default and breach of this Lease by Lessee: (1) Any failure by Lessee to pay Rent or make any other payment required to be made by Lessee hereunder, where such failure continues for thirty (30) days after receipt of written notice from the Lessor, subject to the right of Lessee, reasonably exercised, to contest any such payment. In the event Lessee withholds any such payment, and it is determined that such withholding was wrongful, Lessee shall pay interest to Lessor on such monies wrongfully withheld at the rate of 15% per annum or the maximum amount allowed by law, whichever is less. (2) A failure by Lessee to observe and perform any other material provision or covenant of this Lease to be observed or performed by the Lessee, where such failure continues for thirty (30) days after written notice thereof by Lessor to Lessee, except that this thirty (30) day period shall be extended for a reasonable period of time if the alleged default is not reasonably capable of cure within said thirty (30) day period and Lessee proceeds to diligently cure the default. (3) Any failure of Lessee's representations or warranties to remain true and correct throughout the Lease Term; provided that no event of default shall occur if such representation or warranty is again true and correct within thirty (30) days after receipt of written notice from Lessor. (4) The making by Lessee of any general assignment for the benefit of creditors, the filing by or against Lessee of a petition to have Lessee adjudged a bankrupt, or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days), the appointment of a trustee or receiver to take possession that is not restored to Lessee within thirty (30) days.

Events of Default by Lessee. The occurrence of any of the following shall constitute a material default and breach of this Lease by Lessee:. (1) Any failure by Lessee to pay Rent or make any other payment required to be made by Lessee hereunder, where such failure continues for thirty (30) days after receipt of written notice from the Lessor, subject to the right of Lessee, reasonably exercised, to contest any such payment. In the event Lessee withholds any such payment, and it is determined that such withholding was wrongful, Lessee shall pay interest to Lessor on such monies wrongfully withheld at the rate of 15% per annum or the maximum amount allowed by law, whichever is less. (2) A failure by Lessee to observe and perform any other material provision or covenant of this Lease to be observed or performed by the Lessee, where such failure continues for thirty (30) days after written notice thereof by Lessor to Lessee, except that this thirty (30) day period shall be extended for a reasonable period of time if the alleged default is not reasonably capable of cure within said thirty (30) day period and Lessee proceeds to diligently cure the default. (3) Any failure of Lessee's representations representatives or warranties to remain true and correct throughout the Lease Term; provided that no event of default shall occur if is such Pipeline Lease Agreement representation or of warranty is again true and correct within thirty (30) days after receipt of written notice from Lessor. (4) The making by Lessee of any general assignment for the benefit of creditors, the filing by or against Lessee of a petition to have Lessee adjudged a bankrupt, or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days), the appointment of a trustee or receiver to take possession that is not restored to Lessee within thirty (30) days.

Events of Default by Lessee. The occurrence of any Each of the following shall constitute a material default and breach constitutes an Event of Default by Lessee (a) Lessee fails or refuses to pay any installment of basic rent, or any other sum payable under this Lease by Lessee: (1) Any when due, and the failure by Lessee to pay Rent or make any other payment required to be made by Lessee hereunder, where such failure refusal continues for thirty (30at least ten(10) days after receipt of written notice from the LessorLessor stating such non-payment provided, subject Lessor shall be obligated to the right of Lessee, reasonably exercised, to contest any provide only once such payment. In the event Lessee withholds any such payment, and it is determined that such withholding was wrongful, Lessee shall pay interest to Lessor on such monies wrongfully withheld at the rate of 15% notice per annum or the maximum amount allowed by law, whichever is lesscalendar year. (2b) A failure by Lessee fails or refuses to observe and perform comply with any other material provision or covenant of this Lease to be observed not requiring the payment of money, and the failure or performed by the Lessee, where such failure refusal continues for at least thirty (30) days after written notice thereof from Lessor; provided, however, if any failure by Lessor Lessee to comply with this Lease cannot be corrected within such 30-day period solely as a result of nonfinancial circumstances outside of Lessee's control, except that this thirty (and if Lessee has commenced substantial corrective actions within such 30) -day period and is diligently pursuing such corrective actions, such 30-day period shall be extended for a reasonable period such additional time as is reasonably necessary to allow completion of time if the alleged default is not reasonably capable of cure within said thirty (30) day period and Lessee proceeds actions to diligently cure the defaultcorrect Lessee's noncompliance. (3c) Any failure of Lessee's representations leasehold estate is taken on execution or warranties to remain true and correct throughout the Lease Term; provided that no event other process of default shall occur if such representation or warranty is again true and correct within thirty (30) days after receipt of written notice from Lessorlaw in any action against Lessee. (4d) The making by Lessee or any guarantor of this Lease files a petition under any general chapter of the United States Bankruptcy Code, as amended, or under any similar law or statute of the United States or any state, or a petition is filed against Lessee or any such guarantor under any such statute and not dismissed with prejudice within ninety (90) days of filing, or a receiver or trustee is appointed for Lessee's leasehold estate or for any substantial part of the assets of Lessee or any such guarantor and such appointment is not dismissed with prejudice within ninety (90) days, or Lessee or any such guarantor makes an assignment for the benefit of creditors, the filing by or against Lessee of a petition to have Lessee adjudged a bankrupt, or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days), the appointment of a trustee or receiver to take possession that is not restored to Lessee within thirty (30) days.

Events of Default by Lessee. The occurrence of any Each of the following events shall constitute a material default and breach an "Event of this Lease Default by Lessee": (1) Any failure by . Lessee fails to pay Rent or make any other payment required to be made by Lessee hereunderrentals, where fees and charges when due, and such failure default continues for thirty a period of ten (3010) days after receipt of written notice from the Lessor, subject to the right of Lessee, reasonably exercised, to contest any such payment. In the event Lessee withholds any such payment, and it is determined Lessor that such withholding was wrongful, Lessee shall pay interest to Lessor on such monies wrongfully withheld at the rate non-payment constitutes an event of 15% per annum or the maximum amount allowed by law, whichever is less. (2) A failure by Lessee to observe and perform any other material provision or covenant of this Lease to be observed or performed by the Lessee, where such failure continues for thirty (30) days after written notice thereof by Lessor to Lessee, except that this thirty (30) day period shall be extended for a reasonable period of time if the alleged default is not reasonably capable of cure within said thirty (30) day period and Lessee proceeds to diligently cure the default. (3) Any failure of Lessee's representations or warranties to remain true and correct throughout the Lease Term; provided that no event of default shall occur if such representation or warranty is again true and correct within thirty (30) days 2. Lessee fails after receipt of written notice by certified mail from Lessorthe Lessor to keep, perform or observe any term, covenant or condition of this Agreement, other than as set forth in Subsection 1 (above) and such failure continues for sixty (60) days after such receipt, or if by its nature such event of default by Lessees cannot be cured within such sixty (60) day period, Lessee fails to commence to cure or remove such event of default by the Lessee within said sixty (60) days and to cure or remove same as promptly as reasonably practicable. (4) The making by 3. Lessee shall become insolvent, shall take the benefit of any present or future insolvency statute, shall make a general assignment for the benefit of creditors, the filing by or against Lessee of shall file a voluntary petition to have Lessee adjudged a bankrupt, in bankruptcy or a petition for or answer seeking a reorganization or arrangement the readjustment of its indebtedness under the federal bankruptcy laws or under and other law or statute of the United States or of any law relating state thereof, or shall consent to bankruptcy (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days), the appointment of a trustee receiver, trustee, or receiver to take possession that is liquidation of all or substantially all of its property. 4. An Order for Relief shall be entered at the request of Lessee or any of its creditors under the federal bankruptcy or reorganization laws or under any law or statute of the United States or any state thereof. 5. A petition under any part of the federal bankruptcy laws or an action under any present or future insolvency law or statute shall be filed against the Lessee and shall not restored to Lessee be dismissed within thirty (30) days after the filing thereof. Lessee shall pay to the Lessor all reasonable costs and fees, including attorney and accounting fees and expenses, incurred by the Lessor in the exercise of any remedy in the event of any default by the Lessee. 6. By or pursuant to, or under, any legislative act, resolution or rule, or any order of decree of any court or governmental board or agency, an officer, receiver, trustee or liquidator shall take possession or control of all or substantially all of the property of Lessee and such possession or control shall continue in effect for a period of fifteen (15) days. 7. Lessee shall become a corporation in dissolution, or voluntarily or involuntarily forfeit their corporate charter, other than through merger with a successor corporation. 8. The rights of the Lessee hereunder shall be transferred to, pass to, or devolve upon, by operation of law or otherwise, any other person, firm, corporation or other entity, as a result of any bankruptcy, insolvency, trusteeship, liquidation or other proceedings or occurrence described in Subsections 3 through 7 above.

Events of Default by Lessee. The occurrence of any one or more of the following shall constitute events constitutes a material default and breach of (“Default”) by Lessee under this Lease by LesseeLease: (1) Any failure a. Failure by Lessee to pay Rent or make any other payment required to be made by Lessee hereunder, where such installment of rent when the same is due and the failure continues for thirty five (305 days): b. Failure by Lessee to pay, within ten (10) days after receipt of written notice from the Lessor, subject to the right of Lessee, reasonably exercised, to contest any such payment. In the event other sums due and payable from Lessee withholds any such payment, and it is determined that such withholding was wrongful, Lessee shall pay interest to Lessor on such monies wrongfully withheld at the rate of 15% per annum or the maximum amount allowed by law, whichever is lessunder this lease. (2) A failure c. Failure by Lessee to cure forthwith, promptly after receipt of notice from Lessor, any Hazardous conditions which Lessee has created in violation of law of or this Lease. d. Failure by Lessee to observe and or perform any other material provision or covenant covenant, term of condition of this Lease to be observed or performed by the Lessee, where if such failure continues for thirty (30) days after written notice thereof to Lessee by Lessor to Lessor, unless the nonobservance of nonperformance is of a nature that it cannot be corrected in thirty days and Lessee has commenced observance or performance and is pursuing it with diligence. e. The levy upon under execution or the attachment by legal process or the leasehold interest of Lessee, except that this or the filing or creations of a lien in respect of such leasehold interest which Lessee does not discharge within thirty (30) day period shall be extended for a reasonable period of time if the alleged default is not reasonably capable of cure within said thirty (30) day period and Lessee proceeds to diligently cure the defaultdays. (3) Any failure of Lessee's representations or warranties to remain true and correct throughout the Lease Term; provided that no event of default shall occur if such representation or warranty is again true and correct within thirty (30) days after receipt of written notice from Lessor. (4) The making f. Failure by Lessee to observe or perform any of any general the covenants in respect to assignment and subletting; g. Lessee vacates or abandons the Leased Premises; h. Lessee becomes insolvent or bankrupt or admits in writing his inability to pay his debts as they mature, or makes an assignment for the benefit of or creditors, the filing by or against Lessee of a petition applies for or consents to have Lessee adjudged a bankrupt, or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days), the appointment of a trustee or receiver to take possession that for Lessee or the major part of his property; i. A trustee or receiver is appointed for Lessee or for the major part of its property and is not restored to Lessee discharged within thirty (30) daysdays after such appointment; j. Any proceedings for relief under any bankruptcy law, or similar law for relief of debtors, are instituted by or against Lessee, and if instituted against Lessee, are allowed against him or are consented to by him, or are not dismissed within sixty days after such institution.

Events of Default by Lessee. The occurrence of any one or more of the following shall constitute events constitutes a material default and breach of (“Default”) by Lessee under this Lease by LesseeLease: (1) Any failure a. Failure by Lessee to pay Rent or make any other payment required to be made by Lessee hereunder, where such installment of rent when the same is due and the failure continues for thirty five (305 days); b. Failure by Lessee to pay, within ten (10) days after receipt of written notice from the Lessor, subject to the right of Lessee, reasonably exercised, to contest any such payment. In the event other sums due and payable from Lessee withholds any such payment, and it is determined that such withholding was wrongful, Lessee shall pay interest to Lessor on such monies wrongfully withheld at the rate of 15% per annum or the maximum amount allowed by law, whichever is lessunder this lease. (2) A failure c. Failure by Lessee to cure forthwith, promptly after receipt of notice from Lessor, any hazardous condition which Lessee has created in violation of law of or this Lease. d. Failure by Lessee to observe and or perform any other material provision or covenant covenant, term of condition of this Lease to be observed or performed by the Lessee, where if such failure continues for thirty (30) days after written notice thereof to Lessee by Lessor to Lessor, unless the nonobservance of nonperformance is of a nature that it cannot be corrected in thirty days and Lessee has commenced observance or performance and is pursuing it with diligence. e. The levy upon under execution or the attachment by legal process or the leasehold interest of Lessee, except that this or the filing or creation of a lien in respect of such leasehold interest which Lessee does not discharge within thirty (30) day period shall be extended for a reasonable period of time if the alleged default is not reasonably capable of cure within said thirty (30) day period and Lessee proceeds to diligently cure the defaultdays. (3) Any failure of Lessee's representations or warranties to remain true and correct throughout the Lease Term; provided that no event of default shall occur if such representation or warranty is again true and correct within thirty (30) days after receipt of written notice from Lessor. (4) The making f. Failure by Lessee to observe or perform any of any general the covenants in respect to assignment and subletting; g. Lessee vacates or abandons the Leased Premises; h. Lessee becomes insolvent or bankrupt or admits in writing his inability to pay his debts as they mature, or makes an assignment for the benefit of or creditors, the filing by or against Lessee of a petition applies for or consents to have Lessee adjudged a bankrupt, or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days), the appointment of a trustee or receiver to take possession that for Lessee or the major part of his property; i. A trustee or receiver is appointed for Lessee or for the major part of its property and is not restored to Lessee discharged within thirty (30) daysdays after such appointment; j. Any proceedings for relief under any bankruptcy law, or similar law for relief of debtors, are instituted by or against Lessee, and if instituted against Lessee, are allowed against him or are consented to by him, or are not dismissed within sixty days after such institution.