Leasing Default Sample Clauses

Leasing Default. (a) If any Leasing Default shall occur, the FCRHA may (subject to Section 24.14 below), at its option, give notice to Tenant stating that the FCRHA is terminating any Management Agreement then in effect for the Project and removing the Approved Property Manager from the Premises. Thereafter, the FCRHA, without further notice, may re-enter and repossess the Premises using such force for that purpose as may be necessary without being liable to indictment, prosecution or damages therefor, and undertake any leasing and property management duties, responsibilities or obligations that the FCRHA deems necessary or desirable for the Project, provided such actions are commercially reasonable and consistent with the management of comparable market rate apartment projects in Fairfax County, Virginia. During any period that the FCRHA undertakes leasing or property management duties as the result of a Leasing Default, the FCRHA shall use good faith efforts to cure the Residential Criteria Defaults that resulted in the Leasing Default. The FCRHA shall not be liable to indictment, prosecution or damages for any actions or failure to act by the FCRHA in its leasing or property management capacity, except to the extent such action or failure to act was not commercially reasonable. Any sums expended by the FCRHA in connection with the FCRHA’s duties set forth in this Section 24.06(a) shall be Additional Costs and shall be paid by Tenant in accordance with the terms of this Lease. Failure to pay Additional Costs in accordance with the terms hereof will (after the applicable notice and cure period) constitute an Event of Default by Tenant under Section 24.01(a) above. Without limitation of the foregoing, the FCRHA agrees that if the FCRHA shall terminate the Management Agreement and remove the Approval Property Manager from the Premises, then if the FCRHA shall desire to appoint a replacement property manager, the FCRHA shall request the consent of the then current Mortgagee (which consent shall not be unreasonably withheld, delayed or conditioned). If the Mortgagee shall fail to respond to the FCRHA within ten (10) Business Days after receipt of FCRHA’s request, or if the Mortgagee shall withhold its consent without specifying the reasons therefor in reasonable detail, then the Mortgagee shall be deemed to have consented to the proposed property manager.
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Related to Leasing Default

  • Notice of Event of Default If the Mortgagee shall have Actual Knowledge of an Event of Default or of a Default arising from a failure to pay Rent, the Mortgagee shall give prompt written notice thereof to the Owner Trustee, the Owner Participant, Lessee, and each Note Holder. Subject to the terms of Sections 2.13, 4.03, 4.04, 4.08, 5.02 and 5.03 hereof, the Mortgagee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Mortgagee shall be instructed in writing by a Majority in Interest of Note Holders. Subject to the provisions of Section 5.03, if the Mortgagee shall not have received instructions as above provided within 20 days after mailing notice of such Event of Default to the Note Holders, the Mortgagee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 5.01, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect to such Event of Default or Default as it shall determine advisable in the best interests of the Note Holders; PROVIDED, HOWEVER, that the Mortgagee may not sell the Aircraft or any Engine without the consent of a Majority in Interest of Note Holders. For all purposes of this Trust Indenture, in the absence of Actual Knowledge on the part of the Mortgagee, the Owner Trustee or the Owner Participant, the Mortgagee, the Owner Trustee or the Owner Participant, as the case may be, shall not be deemed to have knowledge of a Default or an Event of Default (except, in the case of the Mortgagee, the failure of Lessee to pay any installment of Basic Rent within one Business Day after the same shall become due, if any portion of such installment was then required to be paid to the Mortgagee, which failure shall constitute knowledge of a Default) unless notified in writing by Lessee, the Owner Trustee, the Owner Participant or one or more Note Holders.

  • No Event of Default No Default or Event of Default has occurred and is continuing.

  • Event of Default Any of the following shall constitute an “Event of Default”:

  • Default H-GAC may, by written notice of default to the Contractor, terminate the whole or any part of the Agreement, in any one of the following circumstances:

  • Developer Default Each of the following shall be an Event of Default by Developer:

  • Termination and Default Either party, upon determination that the other party has failed or refused to perform or is otherwise in breach of any obligation or provision under this Agreement or the Contract Document, may give written notice of default to the defaulting party in the manner specified for the giving of notices herein. Termination of this Agreement by either party for any reason shall have no effect upon the rights or duties accruing to the parties prior to termination.

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