Common use of Failure to Pay Rent Clause in Contracts

Failure to Pay Rent. Lessee shall fail to make any payment of Interim Rent or Basic Rent within seven Business Days from the due date thereof; or Lessee shall fail to make any other payments required to be made by it under the Operative Agreements within ten Business Days after the receipt of written demand therefor delivered to Lessee by Lessor after such payments were required to have been made (provided, that any failure to pay any amount owed by Lessee under the Tax Indemnity Agreement or any failure of Lessee to pay to Lessor or the Owner Participant when due any Excluded Payments shall not constitute a Lease Event of Default unless written notice is given by the Owner Participant to Lessee and the Indenture Trustee that such failure shall constitute a Lease Event of Default); or

Failure to Pay Rent. Lessee shall fail to make any payment of Interim Rent Basic Rent, Stipulated Loss Value, Termination Value or Basic Rent Special Purchase Price or any amount due pursuant to Section 3.4 within seven Business Days from the due date thereof; or Lessee shall fail to make any other payments required to be made by it under the Operative Agreements within ten Business Days after the receipt of written demand therefor delivered to Lessee by Lessor after such payments were required to have been made (provided, that any failure to pay any amount owed by Lessee under the Tax Indemnity Agreement or any failure of Lessee to pay to Lessor or the Owner Participant when due any Excluded Payments shall not constitute a Lease Event of Default unless written notice is given by the Owner Participant to Lessee and the Indenture Trustee that such failure shall constitute a Lease Event of Default); or

Failure to Pay Rent. Lessee shall fail to make any payment of Interim Basic Rent or Basic Supplemental Rent payable in connection with principal, interest, Premium or Break Amount due on the Certificates, within seven Business Days from the due date thereof; or Lessee shall fail to make any other payments required to be made by it under the Operative Agreements within ten Business Days after the receipt of written demand therefor delivered to Lessee by Lessor after such payments were required to have been made (provided, that any failure to pay any amount owed by Lessee under the Tax Indemnity Agreement or any failure of Lessee to pay to Lessor or the Owner Participant when due any Excluded Payments shall not constitute a Lease Event of Default unless written notice is given by the Owner Participant to Lessee and the Indenture Trustee that such failure shall constitute a Lease Event of Default); or

Failure to Pay Rent. Lessee shall fail to make any payment of Interim Rent or Basic Rent within seven Business Days from the due date thereof; or Lessee shall fail to make any other payments required to be made by it under the Operative Agreements within ten Business Days after SALE AND LEASE AGREEMENT [N605SW] -48- 55 the receipt of written demand therefor delivered to Lessee by Lessor after such payments were required to have been made (provided, that any failure to pay any amount owed by Lessee under the Tax Indemnity Agreement or any failure of Lessee to pay to Lessor or the Owner Participant when due any Excluded Payments shall not constitute a Lease Event of Default unless written notice is given by the Owner Participant to Lessee and the Indenture Trustee that such failure shall constitute a Lease Event of Default); or