Lessor’s Event of Default Sample Clauses

Lessor’s Event of Default. Lessor shall be in default (“Lessor’s Event of Default”) under this Lease if Lessor shall breach or fail to keep, observe or perform any term, provision, agreement, representation, warranty or covenant of this Lease to be kept, observed or performed by Lessor, and Lessor does not cure such breach or failure within thirty (30) days (or such shorter period of time as may be necessary to protect the health or welfare of any patient or other resident of the Leased Property) after Notice thereof from Lessee to Lessor and any Facility Mortgagee with respect to which Lessor has notified Lessee (or if such breach or failure cannot be cured within thirty (30) days, or the above described shorter time period, Lessor does not commence to cure said breach or failure prior to the expiration of said thirty (30) day period, or the above described shorter time period, and diligently pursue such cure to completion). Any Facility Mortgagee to whom a Notice of Lessor’s Event of Default is given shall have the same periods of time as Lessor within which to cure such breach or default on the part of Lessor. All payments made, and all acts performed by such Facility Mortgagee shall be effective as if the payments and acts were performed by Lessor instead of by the Facility Mortgagee. The time periods within which Lessor (or such Facility Mortgagee) shall be required to cure any such breach or default shall be subject to extension of time due to the occurrence of any Unavoidable Delay. If Lessor (or such Facility Mortgagee) fails to commence and diligently prosecute such cure to completion as provided herein, in addition to any other rights or remedies to which it may be entitled under applicable law, all of which shall be cumulative, Lessee shall have the right upon further Notice to Lessor and any such Facility Mortgagee to cure or attempt to cure such Lessor’s Event of Default, and Lessor shall reimburse Lessee for all reasonable costs and expenses actually incurred and paid by Lessee in doing so on written demand therefor, together with interest thereon at the Overdue Rate from the due date until paid. If Lessor shall fail to so reimburse Lessee within thirty (30) days following such written demand therefor, then Lessee shall have the right to and may set off against and deduct from up to 50% of each one of the next successive monthly installments of Rent due under this Lease the amount of such costs and expenses together with interest thereon until such time as the entire a...
Sample 1
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Lessor’s Event of Default. Each of the following shall be deemed a “Lessor Event of Default” under this Lease:
Sample 1

Related to Lessor’s Event of Default

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

  • No Event of Default, etc No condition or event has occurred or exists which constitutes or which, after notice or lapse of time or both, would constitute an Event of Default.

  • Waiver of Event of Default The Majority Certificateholders may, on behalf of all Certificateholders, by notice in writing to the Trustee, direct the Trustee to waive any events permitting removal of any Master Servicer under this Agreement, provided, however, that the Majority Certificateholders may not waive an event that results in a failure to make any required distribution on a Certificate without the consent of the Holder of such Certificate. Upon any waiver of an Event of Default, such event shall cease to exist and any Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other event or impair any right consequent thereto except to the extent expressly so waived. Notice of any such waiver shall be given by the Trustee to the Rating Agency.

  • Event of Default Any of the following shall constitute an "Event of Default":

  • No Default or Event of Default No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date unless such Default or Event of Default shall have been waived in accordance with this Agreement.

  • Default or Event of Default Seller shall, as soon as possible but in no event later than two (2) Business Days after obtaining actual knowledge of such event, notify Purchaser of the occurrence of any Default or Event of Default.

  • After Event of Default Borrower further agrees to pay, or reimburse Lender, for all reasonable out-of-pocket costs and expenses, including without limitation reasonable attorneys’ fees and disbursements incurred by Lender after the occurrence of an Event of Default (i) in enforcing any Obligation or in foreclosing against the Collateral or exercising or enforcing any other right or remedy available by reason of such Event of Default; (ii) in connection with any refinancing or restructuring of the credit arrangements provided under this Agreement in the nature of a “work-out” or in any insolvency or bankruptcy proceeding; (iii) in commencing, defending or intervening in any litigation or in filing a petition, complaint, answer, motion or other pleadings in any legal proceeding relating to Borrower and related to or arising out of the transactions contemplated hereby; (iv) in taking any other action in or with respect to any suit or proceeding (whether in bankruptcy or otherwise); (v) in protecting, preserving, collecting, leasing, selling, taking possession of, or liquidating any of the Collateral; or (vi) in attempting to enforce or enforcing any Lien in any of the Collateral or any other rights under the Security Instrument.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

  • Events of Default by Tenant All covenants and agreements to be kept or performed by Tenant under this Lease shall be performed by Tenant at Tenant’s sole cost and expense and without any reduction of Rent. The occurrence of any of the following shall constitute a default of this Lease by Tenant:

  • Event of Default; Waiver The Holders of a Majority in Liquidation Amount of the Preferred Securities may, on behalf of the Holders, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Guarantee Agreement, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent therefrom.

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