Common use of Events of Default by Lessee Clause in Contracts

Events of Default by Lessee. Any of the following events which shall occur shall constitute an Event of Default by the Lessee under this Agreement: a) Subject to the provisions of Section 4.8 hereof, the nonpayment by the Lessee of any payment required hereunder, or failure of the Lessee to perform any of the obligations, covenants, terms and provisions contained or referred to in this Agreement, which nonpayment or failure to perform is not cured within fifteen (15) calendar days of the receipt of written notice (certified mail, return receipt requested) thereof from the Lessor to the Lessee; provided, however, that the termination as described in Article 7 shall not constitute an Event of Default hereunder and shall not give rise to any of the remedies hereinafter authorized. b) Any warranty, representation, or statement of the Lessee contained in this Agreement which proves to have been false in any material respect when made or furnished. c) Dissolution, termination of existence, discontinuance of its business, insolvency, business failure, or appointment of a receiver of any part of the property of or assignment for the benefit of creditors by Lessee or the commencement of any proceedings under any bankruptcy whether voluntary or involuntary, reorganization or arrangement laws by or against Lessee. d) Failure by Lessee to maintain insurance as required by Section 5.6. e) Lessor may require Lessee to pay (and Xxxxxx agrees that it shall pay) all out-of-pocket costs and expenses incurred by Lessor as a result (directly or indirectly) of the Event of Default and/or of Lessor’s actions under this section, including, without limitation, any attorney fees, and expenses and any costs related to the repossession, safekeeping, storage, repair, reconditioning or disposition of any Equipment. f) Failure by Lessee to comply with Section 5.9 of this Agreement.

Events of Default by Lessee. Any The happening of any one or more of the following listed events and the expiration of any notice and cure periods herein provided (which shall occur events, upon such expiration, are hereinafter referred to singularly as “event of default” and plurally as “events of default”) shall constitute an Event a breach of Default by this Agreement on the Lessee under this Agreementpart of Lessee: (a) Subject to the provisions of Section 4.8 hereofThe filing by, the nonpayment by the on behalf of, or against Lessee of any payment required hereunderpetition or pleading to declare Lessee a bankrupt, voluntary or involuntary, under any Bankruptcy Act or law, which is not dismissed within sixty (60) days after the date of filing. (b) The commencement in any court or tribunal of any proceeding, voluntary or involuntary, to declare Lessee insolvent or unable to pay its debts, which is not dismissed within sixty (60) days after the date of filing. (c) The failure of the Lessee to perform pay any rent or any other amount payable under this Agreement within ten (10) days after written notice by the Lessor that the same is due and payable. (d) The appointment by any court or under any law of a receiver, trustee or other custodian of the obligationsproperty, covenantsassets or business of Lessee, terms and provisions contained or referred to who is not dismissed within sixty (60) days after the date of appointment. (e) Except as expressly permitted in this Agreement, which nonpayment the assignment by Lessee of all or any part of its property or assets for the benefit of creditors. (f) The failure of Lessee to perform is use the Leased Premises over a continuous period in excess of sixty (60) days for reasons that are not cured within fifteen (15) calendar days otherwise excused under this Agreement. Any personal property belonging to Lessee and left upon the Leased Premises and any or all of Lessee's improvements and facilities thereon after abandonment shall, at the option of the receipt Lessor, be deemed to be abandoned by Lessee and shall, at the sole option of the Lessor, become the property of Lessor. (g) The failure of Lessee to comply with the Lessor’s Minimum Standards. (h) Lessee’s breach of the SASO Agreement with Lessor. (i) Except as specifically provided in Section 12(a)-(h), the failure in any material respect of Lessee to perform, fully and promptly, any act required of it under the terms of this Agreement, or otherwise to comply with any term or provision hereof within thirty (30) days after written notice (certified mail, return receipt requested) thereof from by the Lessor to the Lessee; providedLessee to do so, howeverunless such default cannot be cured within such period and Lessee has in good faith commenced and is prosecuting the cure thereof, that the termination as described in Article 7 shall not constitute an Event of Default hereunder and shall not give rise to any of the remedies hereinafter authorized. b) Any warranty, representation, or statement of which case the Lessee contained shall have a reasonable extension of such period in this Agreement which proves order to have been false in any material respect when made or furnishedcure such default. c) Dissolution, termination of existence, discontinuance of its business, insolvency, business failure, or appointment of a receiver of any part of the property of or assignment for the benefit of creditors by Lessee or the commencement of any proceedings under any bankruptcy whether voluntary or involuntary, reorganization or arrangement laws by or against Lessee. d) Failure by Lessee to maintain insurance as required by Section 5.6. e) Lessor may require Lessee to pay (and Xxxxxx agrees that it shall pay) all out-of-pocket costs and expenses incurred by Lessor as a result (directly or indirectly) of the Event of Default and/or of Lessor’s actions under this section, including, without limitation, any attorney fees, and expenses and any costs related to the repossession, safekeeping, storage, repair, reconditioning or disposition of any Equipment. f) Failure by Lessee to comply with Section 5.9 of this Agreement.

Events of Default by Lessee. Any Each of the following events which shall occur shall constitute an "Event of Default by the Lessee under this AgreementLessee": a1. Lessee fails to pay rentals, fees and charges when due, and such default continues for a period of ten (10) Subject to the provisions of Section 4.8 hereof, the nonpayment by the Lessee of any payment required hereunder, or failure of the Lessee to perform any of the obligations, covenants, terms and provisions contained or referred to in this Agreement, which nonpayment or failure to perform is not cured within fifteen (15) calendar days of the after receipt of written notice (certified mail, return from Lessor that such non-payment constitutes an event of default. 2. Lessee fails after receipt requested) thereof of written notice from the Lessor to the Lessee; providedkeep, howeverperform or observe any term, that the termination covenant or condition of this Agreement, other than as described set forth in Article 7 shall not constitute an sub-section A (above) and such failure continues for thirty (30) days after such receipt, or if by its nature such Event of Default hereunder by Lessee cannot be cured within such thirty (30) day period, Lessee fails to commence to cure or remove such Event of Default by Lessee within said thirty (30) days and shall not give rise to any of the remedies hereinafter authorizedcure or remove same as promptly as reasonably practicable. b) Any warranty3. Lessee shall become insolvent, representation, or statement of shall take the Lessee contained in this Agreement which proves to have been false in any material respect when made or furnished. c) Dissolution, termination of existence, discontinuance of its business, insolvency, business failure, or appointment of a receiver benefit of any part present of the property of or future insolvency statute, shall make a general assignment for the benefit of creditors by creditors, shall file a voluntary petition in bankruptcy or a petition or answer seeking a reorganization or the readjustment of its indebtedness under the federal bankruptcy laws or under another law or statute of the United States or of any state thereof, or shall consent to the appointment of a receiver, trustee, or 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 commencement 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 Lessee and shall not be dismissed within thirty (30) days after the filing thereof. 6. By or pursuant to or under the City of any proceedings under legislative act, resolution or rule, or any bankruptcy whether voluntary order of decree of any court or involuntarygovernmental board or agency, reorganization an officer, receiver, trustee, or arrangement laws by liquidator shall take possession or against Lesseecontrol 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. d) Failure by 7. Lessee to maintain insurance as required by Section 5.6shall become a corporation in dissolution or voluntarily or involuntarily forfeit its corporate charter other than through merger with a successor corporation. e) Lessor may require 8. The rights of Lessee to pay (and Xxxxxx agrees that it hereunder shall pay) all out-of-pocket costs and expenses incurred be transferred to, pass to, or devolve upon, by Lessor operation of law or otherwise, any other person, firm, corporation, or other entity, as a result (directly or indirectly) of the Event of Default and/or of Lessor’s actions under this section, including, without limitation, any attorney fees, and expenses and any costs related to the repossession, safekeeping, storage, repair, reconditioning or disposition of any Equipmentbankruptcy, insolvency, trusteeship, liquidation, or other proceedings or occurrence described in paragraph 3 through paragraph 7 above. f) Failure by Lessee to comply with Section 5.9 of this Agreement.

Events of Default by Lessee. Lessee agrees to pay the Annual Rent and the Additional Rent, as set forth in Section 6, at the time, in the amount and in the manner herein described. Any one of the following events which shall occur shall constitute an Event be deemed a default by Lessee and a breach of Default by the Lessee under this AgreementLease, namely: (a) Subject If Lessee fails to the provisions timely pay any installment of Section 4.8 hereof, the nonpayment by the Annual Rent or to pay any Additional Rent within five (5) days of written demand therefore; or (b) If Lessee of any payment required hereunder, fails to observe or failure of the Lessee to perform any of the obligationsother terms, covenantscovenants or conditions of this Lease other than paying rents when due, terms and provisions contained such failure continues after the expiration of thirty (30) days from the date Landlord gives written notice to Lessee calling attention to the existence of such failure, provided however, that if Lessee cannot reasonably correct the default (other than non-payment) within said thirty (30) day period, Lessee shall be given a reasonable period of time to correct the default; or (c) If Lessee is declared bankrupt or referred to insolvent by judicial decree; or (d) If Lessee takes the benefit of any federal reorganization or composition proceedings; or (e) If Lessee makes a general assignment for benefit of creditors; or (f) If Lessee's Leasehold interest in this Agreement, which nonpayment Lease is sold under any process of law; or (g) If a trustee in bankruptcy or failure to perform a receiver is not cured within fifteen (15) calendar days of the receipt of written notice (certified mail, return receipt requested) thereof from the Lessor to appointed or elected for the Lessee; providedor (h) If Lessee abandons the Leased Property and fails to pay any installment of Base Rent or to pay any Additional Rent; or (i) If any materialman's, howevermechanic's or other lien is filed against the Leased Property in connection with any improvements, that alterations or additions made by Lessee, and Lessee permits the termination as described in Article 7 shall lien or liens to stand against the Leased Property, not constitute an Event of Default hereunder and shall not give rise to any securing the discharge of the remedies hereinafter authorized. bLeased Property from such liens by filing an appropriate bond within thirty (30) Any warrantydays from date of written demand from Landlord pursuant to applicable law. Should Lessee file a bond and elect to contest the lien or liens, representation, or statement no default shall be in effect pending final legal determination of the Lessee contained in this Agreement which proves to have been false in any material respect when made or furnisheddisputed lien. c) Dissolution, termination of existence, discontinuance of its business, insolvency, business failure, or appointment of a receiver of any part of the property of or assignment for the benefit of creditors by Lessee or the commencement of any proceedings under any bankruptcy whether voluntary or involuntary, reorganization or arrangement laws by or against Lessee. d) Failure by Lessee to maintain insurance as required by Section 5.6. e) Lessor may require Lessee to pay (and Xxxxxx agrees that it shall pay) all out-of-pocket costs and expenses incurred by Lessor as a result (directly or indirectly) of the Event of Default and/or of Lessor’s actions under this section, including, without limitation, any attorney fees, and expenses and any costs related to the repossession, safekeeping, storage, repair, reconditioning or disposition of any Equipment. f) Failure by Lessee to comply with Section 5.9 of this Agreement.

Events of Default by Lessee. Any of the following events which shall occur shall constitute an Event of Default by the Lessee under this Agreement: a) Subject to the provisions of Section 4.8 hereof, the nonpayment by the Lessee of any payment required hereunder, or failure of the Lessee to perform any of the obligations, covenants, terms and provisions contained or referred to in this Agreement, which nonpayment or failure to perform is not cured within fifteen (15) calendar days of the receipt of written notice (certified mail, return receipt requested) thereof from the Lessor to the Lessee; provided, however, that the termination as described in Article 7 shall not constitute an Event of Default hereunder and shall not give rise to any of the remedies hereinafter authorized. b) Any warranty, representation, or statement of the Lessee contained in this Agreement which proves to have been false in any material respect when made or furnished. c) Dissolution, termination of existence, discontinuance of its business, insolvency, business failure, or appointment of a receiver of any part of the property of or assignment for the benefit of creditors by Lessee or the commencement of any proceedings under any bankruptcy whether voluntary or involuntary, reorganization or arrangement laws by or against Lessee. d) Failure by Lessee to maintain insurance as required by Section 5.6. e) Lessor may require Lessee to pay (and Xxxxxx Lessee agrees that it shall pay) all out-out- of-pocket costs and expenses incurred by Lessor as a result (directly or indirectly) of the Event of Default and/or of Lessor’s actions under this section, including, without limitation, any attorney fees, and expenses and any costs related to the repossession, safekeeping, storage, repair, reconditioning or disposition of any Equipment. f) Failure by Lessee to comply with Section 5.9 of this Agreement.

Events of Default by Lessee. Any of the following events which shall occur shall constitute an Event of Default by the Lessee under this Agreement: a) Subject to the provisions of Section 4.8 hereof, the nonpayment by the Lessee of any payment required hereunder, or failure of the Lessee to perform any of the obligations, covenants, terms and provisions contained or referred to in this Agreement, which nonpayment or failure to perform is not cured within fifteen (15) calendar days of the receipt of written notice (certified mail, return receipt requested) thereof from the Lessor to the Lessee; provided, however, that the termination as described in Article 7 shall not constitute an Event of Default hereunder and shall not give rise to any of the remedies hereinafter authorized. b) Any warranty, representation, or statement of the Lessee contained in this Agreement which proves to have been false in any material respect when made or furnished. c) Dissolution, termination of existence, discontinuance of its business, insolvency, business failure, or appointment of a receiver of any part of the property of or assignment for the benefit of creditors by Lessee or the commencement of any proceedings under any bankruptcy whether voluntary or involuntary, reorganization or arrangement laws by or against Lessee. d) Failure by Lessee to maintain insurance as required by Section 5.6. e) Lessor may require Lessee to pay (and Xxxxxx Lessee agrees that it shall pay) all out-out- of-pocket costs and expenses incurred by Lessor as a result (directly or indirectly) of the Event of Default and/or of Lessor’s actions under this section, including, without limitation, any attorney fees, and expenses and any costs related to the repossession, safekeeping, storage, repair, reconditioning or disposition of any Equipment. f) Failure by Lessee to comply with Section 5.9 of this Agreement.