MONETARY DEFAULT BY LESSEE Sample Clauses
The 'Monetary Default by Lessee' clause defines the circumstances under which a lessee is considered to be in default due to failure to make required payments under a lease agreement. Typically, this clause outlines what constitutes a monetary default, such as missing rent payments or failing to pay other financial obligations like taxes or maintenance fees by specified deadlines. Its core practical function is to clearly establish the lessee's payment responsibilities and the consequences of non-payment, thereby protecting the lessor's financial interests and providing a basis for enforcement actions if the lessee fails to meet their monetary obligations.
MONETARY DEFAULT BY LESSEE. It shall be an event of default if Lessee fails to pay the Ground Lease Fee or other charges required by the terms of this Lease and such failure is not cured by Lessee or a Permitted Mortgagee within thirty (30) days after notice of such failure is given by Lessor to Lessee and Permitted Mortgagee. However, if Lessee shall make a good faith partial payment of at least two-thirds (2/3) of the amount owed during such initial 30 day period, then such period shall be extended one additional 30-day period.
MONETARY DEFAULT BY LESSEE. Lessee shall be in default of this Lease if Lessee fails to make a payment of rent, or any other sums, when due and such failure continues for ten (10) calendar days after Lessor notifies Lessee in writing of such failure.
MONETARY DEFAULT BY LESSEE. It shall be an event of default if Lessee fails to pay the Ground Lease Fee or other charges required by the terms of this Lease and such failure is not cured by Lessee or a Permitted Mortgagee within thirty (30) days after notice of such failure is given by Lessor to Lessee and Permitted Mortgagee. However, if Lessee shall make a good faith partial payment of at least two thirds (2/3) of the amount owed during such initial thirty (30)-day period, then such period shall be extended one additional thirty (30)-day period. The full amount of the delinquent Lease Fee or other charges must be paid at the end of this additional period. This paragraph may be used to extend payment deadlines no more than once in every twelve (12)- month period.
MONETARY DEFAULT BY LESSEE it shall be an event of default if a homeowner/ lessee fails to pay the ground lease fee, and such failure is not timely cured in accordance with the terms and provisions of the ground lease. Refer to Article
12.1 for further details regarding curing a default due to nonpayment of the ground lease fee.
MONETARY DEFAULT BY LESSEE. It shall be an event of default if Lessee fails to pay the Ground Lease Fee or any other fees, charges or payments (including late fees) required by the terms of this Lease and such failure is not cured by Lessee or a Permitted Mortgagee within fifteen (15) days after notice of such failure is given by Lessor to Lessee and Permitted Mortgagee. However, with respect to any Ground Lease Fee, if Lessee shall make a good faith partial payment of at least two thirds (2/3) of the amount owed during such initial 15-day period, then such period shall be extended one additional 15-day period for payment of the balance of the Ground Lease Fee by ▇▇▇▇▇▇.