NONCURABLE DEFAULTS Sample Clauses

NONCURABLE DEFAULTS. If within any twelve (12) month period during the Lease Term Tenant is provided two (2) or more written notices by the Landlord of any monetary or non-monetary default under this Lease, then regardless of whether such defaults are being or have been timely cured, the issuance of the next succeeding written notice of default by Landlord (regardless of the nature of such third (3rd) default) shall constitute a nondurable default and Landlord may terminate this Lease and extinguish all of Tenant’s rights hereunder upon ten (10) days written notice to Xxxxxx.
Sample 1
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NONCURABLE DEFAULTS. For the purposes hereof, the term "Noncurable Defaults" shall refer to the following events: (i) the abandonment of the Premises by Lessee, (ii) the insolvency or bankruptcy of Lessee, (iii) any other event constituting an event of default under the Lease which, by virtue of the fact that the event is triggered upon the passage of a stated date or period of time which has elapsed prior to the time that is allotted to the Lender for cure of the same, is not susceptible of cure by Lender (it being understood that upon subsequent assumption of Lessee's obligations under the Lease, the Lender shall be obligated thereafter to cure such event).
Sample 1
NONCURABLE DEFAULTS. If Tenant, two (2) times within any twelve (12) month period, is provided written notice by the Landlord of any default under any provision or provisions of this Lease and receives a notice of default from Landlord, then regardless of whether such defaults are or have been timely cured, the provision of a third written notice of default (even if of a different nature) shall constitute a noncurable default and Landlord shall be entitled to terminate this Lease by giving thirty (30) days' written notice to Tenant.
Sample 1
NONCURABLE DEFAULTS. Notwithstanding paragraph (a), the parties acknowledge that because the Premises is part of an airport, severe, dangerous circumstances could occur that would warrant County proceeding with terminating the lease upon notice under Code of Civil Procedure section 1161(3) or (4) (relating to non-curable breaches) instead of the 30-day notice specified in paragraph (a). Specifically, termination upon notice under Code of Civil Procedure section 1161(3) or (4) may occur when the breach or default cannot be cured by Lessee after notice; when Tenant uses the Airport for an unlawful purpose; when Tenant commits, maintains, or allows the commission or maintenance of a nuisance (as defined in Civil Code section 3479 et seq.) on the Airport; or the breach or default causes a serious risk to the safety or security of persons or property at the Airport , including, without limitation, a deliberate act of violence; criminal activity that jeopardizes the Airport or people or property thereon; willful disobedience of published rules and regulations; or willful disobedience of lawful instructions of Department of Airports staff relating to aircraft operations or an immediate safety or security need at the Airport. In these circumstances, maintaining the lease for an additional 30 calendar days would result in danger to the public, other tenants, or the Airport. The parties do not intend de minimis breaches or trivial defaults to warrant termination upon notice under Code of Civil Procedure section 1161(3) or (4).
Sample 1
NONCURABLE DEFAULTS. In the case of a default by Lessor in the performance or observance of any term, covenant, condition, or agreement on Lessor's part to be performed under this Lease, if such default is of such a nature that the same cannot practicably be cured by Lender, and provided Lessee shall not be subjected to any criminal liability, then Lessee shall not serve a notice of election to terminate this Lease pursuant to the terms thereof, or otherwise terminate the leasehold estate of Lessor hereunder by reason of such default, if and so long as Lender shall promptly institute and diligently prosecute to completion foreclosure proceedings, unless, in the meantime, Lender shall acquire Lessor's estate hereunder, either in its own name or through a nominee, by assignment in lieu of foreclosure. Lender shall not be required to continue to prosecute foreclosure proceedings if and when such default shall be cured. Nothing herein shall preclude Lessee from exercising any rights or remedies with respect to any other default by Lessor during any period when Lessee shall be forbearing termination of this Lease as above provided, but in such event Lender shall have all of the rights and protections hereinabove provided. If Lender, or its nominee, or a purchaser at a foreclosure sale, shall acquire title to the Premises, and shall cure all defaults of Lessor hereunder, which, given the nature of such default, can be cured by Lender, or by said purchaser, as the case may be, then the defaults of any prior holder of the Premises hereunder which, due to the nature of such default, cannot be cured by Lender (or by said purchaser) shall no longer be deemed to be defaults hereunder.
Sample 1
NONCURABLE DEFAULTS. Upon the occurrence of those defaults described in Subsections 12.01(d), 12.01(e) or 12.01(f) above, this Lease shall forthwith and without notice terminate and all rights of Lessee hereunder shall cease subject to the provisions of Section 12.04 hereof.
Sample 1
NONCURABLE DEFAULTS. In the case of a default that is not ------------------- reasonably susceptible of cure by Mortgagee. Mortgagee's cure period shall continue for such additional time as Mortgagee may reasonahl) require to institute proceedings and diligently prosecute the same to completion so as to cause a Foreclosure Event to occur. On the occurrence of a Foreclosure Event, this Lease and Tenant's obligation to pay Rent as provided in this Lease shall continue in full force and effect as if no default(s) had occurred, and Mortgagee shall have no obligation to cure such default as a condition to the continuation of this Lease.
Sample 1
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Related to NONCURABLE DEFAULTS

  • Specific Defaults The Company fails to perform or observe any term, covenant or agreement contained in any of Section 6.01, 6.02, 6.03 or 6.09(c) or in Article VII; or

  • Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default known to the Guarantee Trustee, transmit by mail, first class postage prepaid, to the Holders, notice of any such Event of Default known to the Guarantee Trustee, unless such Event of Default has been cured before the giving of such notice, provided that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders. (b) The Guarantee Trustee shall not be deemed to have knowledge of any Event of Default unless the Guarantee Trustee shall have received written notice, or a Responsible Officer charged with the administration of this Guarantee Agreement shall have obtained written notice, of such Event of Default.

  • Notice of Defaults and Events of Default As soon as possible and in any event within ten (10) days after the occurrence of each Default or Event of Default, a written notice setting forth the details of such Default or Event of Default and the action which is proposed to be taken by the Borrower with respect thereto.

  • Covenant Defaults Borrower fails to perform or observe any covenant, agreement or obligation contained in this Agreement or in any of the Loan Documents. However, if any default described in this Section 7.1(b) is curable and if Borrower or Guarantor, as the case may be, has not been given a notice of a similar default within the preceding 12 months, such default be cured if Borrower or Guarantor, as the case may be, after receiving written notice from Lender demanding cure of such default: (1) cures the default within 30 days; or (2) if the cure requires more than 30 days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical, which, in all events, must occur within 60 days of such failure. The foregoing notice and cure period shall not apply to a breach by Borrower of any covenant or agreement obligating Borrower to pay the Loan or any other amounts due under the Loan Documents, the covenants, agreements, and obligations in Sections 6.1(c)(i) (provided, however, that, in connection with Sections 6.1(c)(i), in all circumstances other than the lapse of insurance, the foregoing notice and cure period specified above shall apply), 6.1(g), 6.1(m), 6.2(b) or 6.2(c), or the covenants, agreements and obligations that are otherwise specifically addressed in other subsections of this Section 7.1.

  • Major Default The Purchasers shall be considered to be in “Major Default” in the event that (a) the Purchasers are in breach of their obligations under the Agreement and (b) such breaches, individually or in the aggregate, resulted or would reasonably be expected to result in (i) material Losses to the Sellers or their Affiliates, (ii) material reputational harm to the Sellers or their Affiliates, (iii) material and adverse regulatory consequences to the Sellers or their Affiliates, for which, in each case of clauses (i) through (iii), indemnification by the Purchasers pursuant to Article 8 of the Agreement would not be sufficient to remedy all damages incurred by the Sellers and their Affiliates or (iv) if the Sellers reasonably determine, based on the advice of counsel, that it would reasonably be expected to be a violation of their fiduciary duties under applicable Law to not terminate the Agreement, taking into account the indemnification by the Purchasers pursuant to Article 8 of the Agreement; provided, that the following breaches shall be excluded, and not taken into account, in determining if a Major Default has occurred: (x) any breach to the extent resulting from any action taken by the Purchasers pursuant to and in accordance with written direction given by the Sellers and (y) any breach to the extent arising out of or resulting from, directly or indirectly, a breach by the Sellers of the Agreement, the Transition Services Agreement or the Purchase Agreement.

  • Automatic Defaults If any Event of Default referred to in Section 7.11 hereof shall occur: (a) all of the Commitment shall automatically and immediately terminate, if not previously terminated, and no Lender thereafter shall be under any obligation to grant any further Loan, nor shall the Fronting Lender be obligated to issue any Letter of Credit; and (b) the principal of and interest then outstanding on all of the Loans, and all of the other Obligations, shall thereupon become and thereafter be immediately due and payable in full (if the Obligations are not already due and payable), all without any presentment, demand or notice of any kind, which are hereby waived by each Borrower.

  • Events of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Capital Securities and the Guarantor, notices of all Events of Default actually known to a Responsible Officer of the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, however, that the Guarantee Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Capital Securities. (b) The Guarantee Trustee shall not be deemed to have knowledge of any Event of Default unless the Guarantee Trustee shall have received written notice from the Guarantor or a Holder of the Capital Securities (except in the case of a payment default), or a Responsible Officer of the Guarantee Trustee charged with the administration of this Guarantee shall have obtained actual knowledge thereof.

  • CURING TENANT'S DEFAULTS If Tenant defaults in the performance of any of its obligations under this Lease, Landlord may (but shall not be obligated to) without waiving such default, perform the same for the account at the expense of Tenant. Tenant shall pay Landlord all costs of such performance promptly upon receipt of a xxxx therefor.

  • 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.

  • Bankruptcy Defaults When any Event of Default described in subsections (j) or (k) of Section 9.1 hereof has occurred and is continuing, then all outstanding Loans shall immediately become due and payable together with all other amounts payable under the Loan Documents without presentment, demand, protest or notice of any kind, the obligation of the Lenders to extend further credit pursuant to any of the terms hereof shall immediately terminate and the Borrower shall immediately deliver to the Administrative Agent Cash Collateral in an amount equal to 102% of the aggregate amount of each Letter of Credit then outstanding, the Borrower acknowledging and agreeing that the Lenders would not have an adequate remedy at law for failure by the Borrower to honor any such demand and that the Lenders, and the Administrative Agent on their behalf, shall have the right to require the Borrower to specifically perform such undertaking whether or not any draws or other demands for payment have been made under any of the Letters of Credit.

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