LESSEE'S DEFAULT. (i) If Lessee shall default in the payment of the Fixed Annual Rent, any additional rent or any other sums payable by Lessee herein when due, and such default shall continue for a period of five (5) days after written notice, or (ii) if Lessee shall default in the performance of any nonmonetary covenants or agreements of this Lease and said default shall continue for twenty (20) days after written notice thereof, or in the event that the default be of such a nature as cannot with diligent effort be cured within said twenty (20) day period, if Lessee shall not commence to cure within said period and diligently prosecute remedial efforts to completion within a reasonable time thereafter, not to exceed sixty (60) (iii) if Lessee should become bankrupt or insolvent or any debtor proceedings be taken by or against Lessee or (iv) if Lessee shall abandon or vacate the Premises prior to the expiration of the term of this Lease, then and in addition to any and all other legal remedies and rights available to Lessor at law or in equity, Lessor may:
A. Declare the entire balance of fixed Annual Rent due hereunder for the remainder of the term of this Lease to be due and payable and may collect the same by distress or otherwise;
B. Terminate this Lease and any right of renewal thereof, and retake possession of the Premises;
C. Without terminating this Lease, re-enter and re-let the Premises, or any part thereof, with or without legal process, as the agent and for the account of Lessee, upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, necessary renovation and alterations of the Premises, reasonable attorney’s fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other charges, (i) at Lessor’s option, Lessee shall pay Lessor any deficiency immediately upon demand therefor, notwithstanding Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefor as such deficiency shall arise, or (ii) at Lessor’s option, the entire deficiency, which is subject to ascertainment for the remaining term of this Lease, shall be immediately due...
LESSEE'S DEFAULT. If Lessee delivers Lessee's Purchase Option Notice and fails to consummate the purchase of the Leased Property in accordance with the terms hereof for any reason other than Lessor's willful and unexcused refusal to deliver the Deed or exercise of the right of rescission in Section 18.3.2 hereof, (a) Lessee shall thereafter have no further right to purchase the Leased Property pursuant to this Section, although this Lease shall otherwise continue in full force and effect and (b) Lessor shall have the right to xxx for specific performance of Lessee's obligations to purchase the Leased Property provided such suit for specific performance is commenced within one (1) year after the applicable Purchase Option Date on which such sale was supposed to occur.
LESSEE'S DEFAULT. The occurrence of any one of the following events (each an “Event of Default”) shall constitute a material breach of this Lease by Lessee:
A. Lessee’s failure to pay Base Monthly Rent within five (5) calendar days of the date when due.
B. If Lessee shall fail to pay any other sum (all of which sums shall be deemed to be additional rent hereunder) to Lessor within five (5) calendar days of the date when due.
C. Lessee’s failure to perform any other provisions of this Lease if the failure to perform is not cured within fifteen (15) days after notice has been given to Lessee. If the default cannot reasonably be cured within fifteen (15) days, Lessee shall not be in default of this Lease if Lessee commences to cure the default within the fifteen (15) day period and diligently and in good faith continues to cure the default thereafter.
D. If this Lease or any estate of Lessee hereunder shall be levied upon under any attachment or execution and such attachment or execution is not vacated within sixty (60) days.
E. If within sixty (60) days after the commencement of any proceeding against Lessee seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed, or if, within sixty (60) days after the appointment of a receiver or liquidator of Lessee and such appointment shall not have been vacated.
LESSEE'S DEFAULT. Each of the following events shall constitute an "Event of Default" hereunder:
(a) Lessee shall fail to make payment of any Aggregate Rental when due and such failure shall continue for five (5) business days after Lessor gives Lessee written notice of such failure; or
(b) Lessee shall fail to perform or observe any other covenant, condition or agreement to be performed or observed by it under this Lease or any agreement, document or certificate delivered by Lessee in connection herewith in any material respect, and such failure shall continue for thirty (30) days after written notice thereof from Lessor to Lessee; or
(c) Any representation or warranty made by Lessee in this Lease or any agreement, document, certificate delivered by the Lessee in connection herewith is or shall become incorrect in any material respect, and, if such a default is susceptible of being corrected, Lessee fails to correct such default with thirty (30) days of a written notice from Lessor requesting correction of same; or
(d) Lessee shall become insolvent or cease to do business as a going concern; or
(e) Lessee makes an assignment for the benefit of creditors, or if a petition is filed by or against Lessee under any bankruptcy or insolvency law; or If a receiver is appointed for Lessee or any of Lessee's property.
LESSEE'S DEFAULT. Lessee will be in "Default" if (i) Lessee fails to pay Base Rent, additional expenses or any other amount owning hereunder when due, and such failure continues for ten (10) days after written notice to Lessee of such failure; (ii) Lessee fails to perform any other material covenant or agreement contained in this Lease within thirty (30) days after written notice of the failure from Lessor; provided, however if the failure is of such a nature that it cannot be cured within said thirty (30) day period, Lessee will not be deemed in default provided Lessee commences to cure the default within said thirty (30) day period and thereafter continuously prosecutes such cure to completion; and/or (iii) Lessee vacates or abandons the Leased Premises or removes or manifests an intention to remove Lessee’s goods and property from the Leased Premises other than in the ordinary course of its business; and/or (iv) Lessee is adjudicated a bankrupt in a proceeding initiated by or against it or a receiver for Lessee or for all or a substantial part of its property is appointed, or a court order is entered approving a petition seeking reorganization or an arrangement under the Bankruptcy Code, and any such adjudication, appointment or order is not vacated, set aside or otherwise terminated or stayed within sixty (60) days from the date of its entry.
LESSEE'S DEFAULT. This Guaranty is a guaranty of payment and performance, and not of collection. Upon any breach or default by Lessee under the Lease, Lessor may proceed immediately against Lessee and/or Guarantor to enforce any of Lessor's rights or remedies against Lessee or Guarantor pursuant to this Guaranty, the Lease, or at law or in equity without notice to or demand upon either Lessee or Guarantor. This Guaranty shall not be released, modified or affected by any failure or delay by Lessor to enforce any of its rights or remedies under the Lease or this Guaranty, or at law or in equity.
LESSEE'S DEFAULT. The Lessee agrees to pay all expenses including reasonable attorney’s fees, incurred by the Lessor in the event of the Lessee’s breach of any of the covenants herein. In the event the Lessor retakes possession of the demised premises during the term of this Lease because of the Lessee’s abandonment of same or breach of any of the covenants of this Lease, the Lessee shall nonetheless remain liable for any loss of rent sustained by the Lessor with respect to the balance of the term, and Lessee expressly consents to the reletting of the premises in order to discharge or reduce his liability hereunder, provided that the Lessor shall not be obligated to effect such reletting.
LESSEE'S DEFAULT. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Lessee:
(a) The vacation or abandonment of the Premises by the Lessee.
(b) The failure by Lessee to make any payment of Rent or any other payment required hereunder after receiving ten (10) days written notice that Lessee has failed to make such payment by the date said payment is due.
(c) The failure of Lessee to observe, perform or comply with any of the conditions or provisions of this Lease for a period of thirty (30) days after written notice, or such additional time as may be reasonably required to remedy the same by appropriate action promptly commenced and diligently continued.
(d) Lessee becoming the subject of any bankruptcy (including reorganization or arrangement proceedings pursuant to any bankruptcy act) or insolvency proceeding whether voluntary or involuntary.
(e) The use or storage by Lessee of Hazardous Materials on the Premises other than as permitted by the provisions of Section 27 of this Lease for a period of thirty (30) days after written notice or such additional time as may be reasonably necessary to remedy the same by appropriate action promptly commenced and diligently continued.
LESSEE'S DEFAULT. The Lessee shall be considered in default of this Lease Agreement upon failure to pay when due the rent or any other sum required by the terms of this Lease; the failure to perform any material term, covenant, or condition of this Lease Agreement; the commencement of any action or proceeding for the dissolution, liquidation, or reorganization under the Bankruptcy Act, of Lessee, or for the appointment of a receiver or trustee of the Lessee’s property; the making of any assignment for the benefit of creditors by Lessee; the suspension of business; or the abandonment of the Demised Premises by the Lessee. In each case, Lessee shall only be in default if the Lessee is given written notice by Lessor of the specific grounds for the default termination and twenty business days from receipt of such notice to correct such default and Lessee fails to do so.
LESSEE'S DEFAULT. In addition to the terms provided in this Lease, the occurrence of any of the following shall constitute a default in the terms of this Lease:
A. The failure to pay rent by the 10th of the month.
B. The failure to substantially comply with the terms of this Lease after thirty (30) days written notice of the provision in default and a failure to cure, excepting rent payments.
C. The filing of a petition in bankruptcy or the appointment of a receiver or an assignment for the benefit of creditors.
