Licensor Default. The occurrence of any one or more of the following shall constitute a default by Licensor under this Agreement (each, a “Licensor Default”):
(a) Failure by Licensor to timely pay any amount owed by Licensor to the Knicks pursuant to this Agreement if such failure shall continue for thirty (30) days after notice thereof is received by Licensor;
(b) The making by Licensor of an assignment for the benefit of creditors; an adjudication that Licensor is bankrupt, insolvent or unable to pay its debts as they mature; the filing by or against Licensor of a petition to have Licensor adjudged bankrupt, or a petition for reorganization or arrangement under any law relating to bankruptcy unless, in the case of a petition filed against the Licensor, the case is dismissed within sixty (60) days after the filing thereof; the appointment of a trustee or receiver to take possession of substantially all of Licensor’s assets or Licensor’s interests in this Agreement; or an attachment, execution or levy against substantially all of Licensor’s interests in this Agreement;
(c) Failure by Licensor to provide the Knicks with any of the Knicks’ rights hereunder that interferes with the playing of Home Games in the Arena;
(d) Failure by Licensor to cause the Arena to be maintained and operated in accordance with, or otherwise to meet and observe, the Standard, and such failure shall continue for fifteen (15) days after notice thereof from the Knicks to Licensor; provided that if such failure cannot reasonably be cured within such fifteen (15) days, then Licensor shall have up to an additional fifteen (15) days to cure such failure as long as, within fifteen (15) days after such notice, it diligently undertakes and pursues such cure and provides the Knicks with reasonable evidence that it is diligently undertaking and pursuing such cure, but in any event, Licensor shall not have more thirty (30) days from its receipt of notice of such failure from the Knicks to cure such failure; and
(e) Failure by Licensor to observe or perform in any material respect any covenant, agreement, condition, or provision of this Agreement not otherwise specified in this ARTICLE XVIII if such failure shall continue for sixty (60) days after notice thereof from the Knicks to Licensor; provided that Licensor shall not be in a Licensor Default with respect to matters that cannot reasonably be cured within sixty (60) days so long as within sixty (60) days after such notice Licensor commences such cure and di...
Licensor Default. Licensor shall not be in default under this Agreement unless Licensor fails to perform obligations required of Licensor within ten (10) days after written notice is delivered by Customer to Licensor specifying the obligation which Licensor has failed to perform: provided, however, that if the nature of Licensor’s obligation is such that more than ten (10) days are required for performance, then Licensor shall not be in default if Licensor commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. Customer hereby waives the benefit of any laws granting it the right to perform Licensor’s obligations, and Customer shall not be entitled to perform any of Licensor’s obligations.
Licensor Default. RANGERS’ RIGHTS AND REMEDIES; RIGHTS IN THE EVENT OF REPEAL OF PROPERTY TAX EXEMPTION
Licensor Default. If Licensor fails to disprove or correct the violation within thirty (30) days, or, in the case of a violation which cannot be corrected in thirty (30) days, Licensor has failed to initiate a reasonable plan of corrective action and to correct the violation within the specified time frame in such plan, then Company may declare in writing that Licensor is in default.
Licensor Default. If Licensor breaches any covenant or obligation of Licensor under this Agreement in any manner, and if Licensor fails to commence to cure such breach within thirty (30) days after receiving written notice from Licensor specifying the violation (or if Licensor fails thereafter to diligently prosecute the cure to completion), then Licensee may terminate this Agreement if such failure is in relation to the Agreement as a whole, or any individual Supplements if such failure is in connection solely with such Supplement, by written notice to Licensor, and enforce any and all of its rights and/or remedies provided under this Agreement or by Law.
Licensor Default. Any one or more of the following events shall constitute a default by LICENSOR (“LICENSOR Default”):
(i) The failure of LICENSOR’S representations in Section 4(b) of this MLA to be true and accurate in all respects; or
(ii) The failure to perform any of its obligations under this MLA and/or SLA and such failure continues for thirty (30) days from the date LICENSEE gives written notice thereof to LICENSOR (unless another time period is specified for a particular default under this MLA or the SLA); provided, however, that if more than thirty (30) days are required in order to cure any non-monetary LICENSOR Default, LICENSOR shall have a reasonable period of time to cure such a default if LICENSOR shall have commenced and is diligently pursuing corrective action within such initial thirty (30) days.
Licensor Default. Failure by a Licensor to perform its obligations under this MSA within 15 days after written notice is delivered by Customer to such Licensor specifying the obligation which Licensor has failed to perform; provided, however, that if the nature of such Licensor’s obligation is such that more than 15 days are required for performance, then such Licensor shall not be in breach or default (and a Licensor Default shall not exist) if such Licensor commences performance within such 15-day period and thereafter diligently prosecutes the same to completion. Minimum Common Facilities Amount: Defined in the Basic Provisions.
Licensor Default. If Licensor is in default under this License and such default shall continue for ten (10) days after Licensee has notified the Licensor by written notice of such default (except in the case of a default which cannot be remedied within ten (10) days and where Licensor shall have commenced and shall be diligently pursuing all necessary action to remedy such default), the Licensee may, but shall not be obligated to: (i) cure the default itself and deduct the cost and expense thereof from the Fee due Licensor under this License; or (ii) immediately terminate this License by providing Licensor written notice as provided for herein. The remedies under the terms of this License are not intended to be exclusive of any other rights or remedies Licensee may have and shall be in addition to any other remedies, existing now or hereafter, at law, in equity or by statute.
Licensor Default. At Distributor’s option and upon written notice given to Licensor, Distributor shall have the right to terminate this Agreement and shall be entitled to immediate repayment of all out-of-pocket costs incurred by Distributor in connection with the Picture and may declare all obligations hereunder due and owing and may proceed to enforce payment and performance by Xxxxxxxx and exercise all of Distributor’s rights and remedies at law or equity, if (i) Licensor breaches any material covenant, agreement or obligation under this Agreement and fails to cure such breach within forty-eight (48) hours after receipt of written notice from Distributor (except such right to cure shall not apply to Licensor’s failure to timely deliver the Picture by the Delivery Date in accordance with Paragraph 9(b)); (ii) any representation or warranty made by Licensor is untrue or incomplete in any material respect on or as of the date made; or (iii) Licensor becomes insolvent or a petition under any bankruptcy or insolvency law shall be filed by or against Licensor or any property of Licensor is attached and such attachment is not released within 30 days or if Licensor executes an assignment for the benefit of creditors or if a receiver, custodian, liquidator or trustee is appointed for Licensor. Without limiting any other remedies available to it hereunder or by law, Distributor shall have the right to withhold and reserve from any monies whatsoever payable to Licensor hereunder, sums reasonably sufficient to secure Distributor from and against Licensor’s liabilities or the material breach of any of its obligations under this Agreement.
Licensor Default. Each of the following events will, unless otherwise expressly agreed by the Licensee in writing, constitute a "Licensor Default" under this Agreement:
20.3.1 The Licensor materially breaches or fails to comply with any material provision of this Agreement applicable to the Licensor, and such breach or noncompliance continues for a period of thirty (30) days after written notice thereof by the Licensee to the Licensor; or, if such breach or noncompliance cannot reasonably be cured within such 30-day period, the Licensor does not commence to cure such breach or noncompliance within such 30-day period or, after commencing to cure such breach or noncompliance, does not thereafter pursue such cure in good faith to completion.
20.3.2 The Licensor files a petition in bankruptcy or insolvency, or for reorganization or arrangement under any Applicable Laws related to bankruptcy or insolvency, or voluntarily takes advantage of any such Applicable Laws by answer or otherwise, or dissolves or makes a general assignment for the benefit of creditors, or involuntary proceedings under any such Applicable Laws or for the dissolution of the Licensor are instituted against the Licensor, or a receiver or trustee is appointed for the Arena or for all or substantially all of the Licensor property, and such involuntary proceedings are not dismissed or such receivership or trusteeship vacated within ninety (90) days after such institution or appointment.
