Common use of Termination Due to Default Clause in Contracts

Termination Due to Default. If and whenever (a) the Tenant fails to pay any rent or other amount owing under this Lease when due, whether or not demanded by the Landlord; (b) the Tenant fails to observe or perform any of its obligations under this Lease and the Tenant has not, within seven days after notice from the Landlord specifying the default, cured the default, or if the cure reasonably requires a longer period, the Tenant has not commenced to cure the default within the seven day period and thereafter does not diligently pursue the cure of such default; (c) re-entry is permitted under other terms of this Lease; (d) without the consent of the Landlord, the Premises are vacant or the Tenant fails to operate its business within the Premises for 10 days or more; (e) the Term or any of the goods or chattels of the Tenant on the Premises are seized by a creditor or the Tenant receives a notice from a creditor that the creditor intends to realize on security located on the Premises; (f) a receiver is appointed to control the conduct of the business of the Tenant on or from the Premises; (g) the Tenant becomes bankrupt or insolvent or takes the benefit of any legislation in force for bankrupt or insolvent debtors; (h) proceedings are instituted for the winding-up or termination of the corporate existence of the Tenant; (i) without the consent of the Landlord, the Tenant abandons or attempts to abandon the Premises or disposes of the bulk of its goods and chattels on the Premises (j) or taken in execution or attachment by any creditor of the Tenant or under xxxx of sale or chattel mortgage; (k) a writ of execution issues against the goods and chattels of the Tenant; (l) the Tenant makes any assignment for the benefit of creditors or becomes insolvent or bankrupt; (m) the Tenant permits a builders lien to arise in respect of the Premises and to remain registered against title to the Premises for more than 60 days; then the Landlord may re-enter and take possession of the Premises as though the Tenant or other occupant was holding over after the expiration of the Term and this Leas may, at the Landlord’s option, be immediately terminated by notice left at the Premises.

Termination Due to Default. If and whenever (a) the Tenant If either party fails or neglects to perform covenants or provisions of this AGREEMENT (other than pursuant to Paragraph 3.06) and if such default is (a) for failure to pay undisputed amounts due hereunder and such default is not cured within ten (10) business days, or (b) for any rent or default other amount owing than non-payment and such default is not corrected within sixty (60) days after receiving written notice from the other party with respect to such default, such other party shall have the right to terminate rights to PRODUCT of the defaulting party under this Lease when due, whether or not demanded AGREEMENT by giving written notice to the Landlord;party in default provided the notice of termination is given within six (6) months of the default and prior to correction of the default. (b) In the Tenant fails event that a party's ("Terminating Party") rights to observe or perform the DEVELOPMENT and/or commercialization of PRODUCT in the TERRITORY are terminated at any of its obligations time under this Lease AGREEMENT in accordance with Paragraph 12.04, then all rights to PRODUCT granted to the Terminating Party in the TERRITORY shall terminate and revert to the other party ("Surviving Party"), the JDC, the Development Coordinators and/or the JMC shall terminate and the Tenant has not, within seven days after notice from Surviving Party shall have sole responsibility for DEVELOPMENT and commercialization in the Landlord specifying the default, cured the default, or if the cure reasonably requires a longer periodTERRITORY, the Tenant has not commenced licenses to cure the default within Terminating Party under SB PATENTS and SB KNOW-HOW or PDL PATENTS and PDL KNOW-HOW, as the seven day period case may be, shall terminate in the TERRITORY, and thereafter does not diligently pursue the cure Terminating Party shall promptly transfer all clinical, preclinical and other relevant data and information related to PRODUCT in the TERRITORY in its possession (including the assignment of such default; (cany filings with REGULATORY AUTHORITIES held by the Terminating Party) reto the Surviving Party at no cost to the Surviving Party, and the Surviving Party shall immediately have an exclusive license to make, have made, import, use and sell PRODUCT in the TERRITORY under all relevant SB PATENTS, SB KNOW-entry is permitted under other terms of this Lease; (d) without HOW or PDL PATENTS and PDL KNOW-HOW, as the consent of the Landlordcase may be. In either case, the Premises are vacant Surviving Party shall use commercially reasonable efforts and diligence, consistent with the effort that is used by the Surviving Party in the development, testing, manufacture, registration, marketing and sale of pharmaceutical products at a similar stage of development, having a comparable level of market potential, and being subject to a comparable regulatory review, to develop and commercialize PRODUCT in the TERRITORY and any subsequent sales of PRODUCT by the Surviving Party in the [CONFIDENTIAL TREATMENT REQUESTED] shall be subject to the royalty obligation set forth in Paragraphs 5.03 or the Tenant fails 5.04 (if SB elects to operate its business within the Premises for 10 days or more; (e) the Term or any of the goods or chattels of the Tenant on the Premises are seized by a creditor or the Tenant receives a notice from a creditor that the creditor intends to realize on security located on the Premises; (f) a receiver is appointed to control the conduct of the business of the Tenant on or from the Premises; (g) the Tenant becomes bankrupt or insolvent or takes the benefit of any legislation in force for bankrupt or insolvent debtors; (h) proceedings are instituted for the winding-up or termination of the corporate existence of the Tenant; (i) without the consent of the Landlord, the Tenant abandons or attempts to abandon the Premises or disposes of the bulk of its goods and chattels on the Premises (jterminate) or taken in execution or attachment by any creditor of 5.05 (if PDL elects to terminate), as the Tenant or under xxxx of sale or chattel mortgage; (k) a writ of execution issues against the goods and chattels of the Tenant; (l) the Tenant makes any assignment for the benefit of creditors or becomes insolvent or bankrupt; (m) the Tenant permits a builders lien to arise in respect of the Premises and to remain registered against title to the Premises for more than 60 days; then the Landlord case may re-enter and take possession of the Premises as though the Tenant or other occupant was holding over after the expiration of the Term and this Leas may, at the Landlord’s option, be immediately terminated by notice left at the Premisesbe.

Termination Due to Default. If and whenever: (a) the Tenant fails to pay any rent or other amount owing under this Lease when due, whether or not demanded by the Landlord; (b) the Tenant fails to observe or perform any of its obligations under this Lease and the Tenant has not, within seven days after notice from the Landlord specifying the default, cured the default, or if the cure reasonably requires a longer period, the Tenant has not commenced to cure the default within the seven day period and thereafter does not diligently pursue the cure of such default; (c) re-entry is permitted under other terms of this Lease; (d) without the consent of the Landlord, the Premises are vacant or the Tenant fails to operate its business within the Premises for 10 days or more; (e) the Term or any of the Caretaker’s goods or chattels of the Tenant on in the Premises are seized by a creditor or the Tenant receives a notice from a creditor that the creditor intends to realize on security otherwise located on the Premises; (f) a receiver is appointed to control the conduct of the business of the Tenant on or from the Premises; (g) the Tenant becomes bankrupt or insolvent or takes the benefit of Rodeo Grounds are at any legislation in force for bankrupt or insolvent debtors; (h) proceedings are instituted for the winding-up or termination of the corporate existence of the Tenant; (i) without the consent of the Landlord, the Tenant abandons or attempts to abandon the Premises or disposes of the bulk of its goods and chattels on the Premises (j) time seized or taken in execution or attachment by any creditor of the Tenant Caretaker or under xxxx of or sale or chattel mortgage; (kb) a writ of execution issues against the goods and chattels of the TenantCaretaker; (lc) the Tenant Caretaker makes any assignment for the benefit of creditors or becomes insolvent or bankrupt; (md) proceedings are begun to dissolve or wind up the Caretaker; (e) the Tenant Caretaker is in default in the payment of any amount payable to the District under this Agreement and the default continues for fourteen (14) days after notice from the District or its representative to the Caretaker; (f) the Rodeo Grounds or any part of them are destroyed or damaged by any cause so that, in the opinion of the District, the Rodeo Grounds are no longer reasonably fit for use as a public rodeo facility in accordance with this Agreement for any period of time in excess of sixty (60) days; (g) the Caretaker does not fully observe, perform, and keep each and every term, covenant, agreement, stipulation, obligation, condition, and provision of this Agreement to be observed, performed, and kept by the Caretaker, and persists in such default for thirty (30) days after notice from the District or its representative; or (h) the Caretaker uses or permits a builders lien to arise in respect or suffers the use of the Premises for any purpose other than as contemplated and to remain registered against title to permitted by this Agreement, and such default persists for five (5) days after notice from the Premises for more than 60 days; District or its representative, then the Landlord may re-enter and take possession of the Premises as though the Tenant or other occupant was holding over after the expiration of the Term and this Leas District may, at the Landlord’s its option, be immediately terminated by terminate this Agreement effective upon notice left at to the PremisesCaretaker.

Termination Due to Default. If and whenever: (a) the Tenant fails to pay any rent or other amount owing under this Lease when due, whether or not demanded by the Landlord; (b) the Tenant fails to observe or perform any of its obligations under this Lease and the Tenant has not, within seven days after notice from the Landlord specifying the default, cured the default, or if the cure reasonably requires a longer period, the Tenant has not commenced to cure the default within the seven day period and thereafter does not diligently pursue the cure of such default; (c) re-entry is permitted under other terms of this Lease; (d) without the consent of the Landlord, the Premises are vacant or the Tenant fails to operate its business within the Premises for 10 days or more; (e) the Term or any of the goods or chattels of the Tenant on the Premises are seized by a creditor or the Tenant receives a notice from a creditor that the creditor intends to realize on security located on the Premises; (f) a receiver is appointed to control the conduct of the business of the Tenant on or from the Premises; (g) the Tenant becomes bankrupt or insolvent or takes the benefit of any legislation in force for bankrupt or insolvent debtors; (h) proceedings are instituted for the winding-up or termination of the corporate existence of the Tenant; (i) without the consent of the Landlord, the Tenant abandons or attempts to abandon the Premises or disposes of the bulk of its goods and chattels on the Premises (j) or taken in execution or attachment by any creditor of the Tenant or under xxxx of sale or chattel mortgage; (k) a writ of execution issues against the goods and chattels of the Tenant; (l) the Tenant Lessee makes any assignment for the benefit of creditors or becomes insolvent or bankrupt; (mb) proceedings are begun to wind up the Lessee or the Lessee is dissolved; c) the Tenant Lessee fails to pay any amount due hereunder on the day or dates appointed for the payment thereof (provided the Lessor first gives five (5) days' written notice to the Lessee of any such failure and the Lessee fails to make the payment within the 5 day period); d) the Lessee fails to observe or perform any other of the terms, covenants or conditions of this Agreement to be observed or performed by the Lessee provided the Lessor first gives the Lessee ten (10) days, or such shorter period of time as is otherwise provided herein, written notice of any such failure to perform and the Lessee within such period of ten (10) days fails to commence diligently and thereafter to proceed diligently to cure any such failure to perform; e) the Lessee assigns, transfers, encumbers, sublets or permits a builders lien to arise in respect the occupation or use or the parting with or sharing possession of all or any part of the Premises and by anyone except in a manner permitted by this Lease; or f) the Lessee ceases to remain registered against title to the Premises for more than 60 days; then the Landlord may re-enter and take possession of the Premises as though the Tenant or other occupant was holding over after the expiration of the Term and this Leas may, at the Landlord’s option, be immediately terminated by notice left operate a hockey team in a Junior A League at the Premises; g) then and in every such case the Lessor, in addition to any other rights or remedies it has pursuant to this Lease or by-law, has the immediate right of re-entry upon the Premises and it may repossess the Premises and enjoy them as of its former state and may expel all persons and remove all property from the Premises and such property may be removed and sold or disposed of by the Lessor as it deems appropriate. The Lessor may also, in its absolute and sole discretion, terminate this Lease Agreement and relet the ice to others. The Lessee shall indemnify and hold harmless the Lessor from any claim, damage, action or cause of action as a result of such entry, sale or relet by the Lessor.

Termination Due to Default. I. If and whenever: (a) the Tenant fails to pay any rent or other amount owing under this Lease when due, whether or not demanded by the Landlord; (b) the Tenant fails to observe or perform any of its obligations under this Lease and the Tenant has not, within seven days after notice from the Landlord specifying the default, cured the default, or if the cure reasonably requires a longer period, the Tenant has not commenced to cure the default within the seven day period and thereafter does not diligently pursue the cure of such default; (c) re-entry is permitted under other terms of this Lease; (d) without the consent of the Landlord, the Premises are vacant or the Tenant fails to operate its business within the Premises for 10 days or more; (e) the Term or any of the Tenant’s goods or chattels of the Tenant on the Premises are at any time seized by a creditor or the Tenant receives a notice from a creditor that the creditor intends to realize on security located on the Premises; (f) a receiver is appointed to control the conduct of the business of the Tenant on or from the Premises; (g) the Tenant becomes bankrupt or insolvent or takes the benefit of any legislation in force for bankrupt or insolvent debtors; (h) proceedings are instituted for the winding-up or termination of the corporate existence of the Tenant; (i) without the consent of the Landlord, the Tenant abandons or attempts to abandon the Premises or disposes of the bulk of its goods and chattels on the Premises (j) or taken in execution or attachment by any creditor of the Tenant or under xxxx bill of sale or chattel mortgage; (kb) a writ of execution issues against the goods and chattels of the Tenant; (lc) the Tenant makes any assignment for the benefit of creditors or becomes insolvent or bankrupt; (md) proceedings are begun to wind up the Tenant; (e) the Tenant is in default in the payment of the Lease Fee or any other amount payable under this Lease and the default continues for 30 days after delivery of written notice by the City to the Tenant; (f) the Tenant does not fully observe, perform and keep each and every term, covenant, agreement, stipulation, obligation, condition and provision of this Lease to be observed, performed and kept by the Tenant, and persists in such default for 30 days after written notice by the City or, in the case of a default that cannot with due diligence be cured within the period of 30 days, the Tenant does not fully proceed promptly after the giving of such notice to cure such default; or (g) the Tenant vacates or abandons the Premises or uses or permits a builders lien to arise in respect or suffers these of the Premises for any purpose other than the purposes permitted by this Lease, and such default persists for 30 days after written notice by the City, then the City may, at its option, terminate this Lease and the Term shall then become immediately forfeited and void and the Tenant shall immediately cease all use and occupation of the Premises and to remain registered against title to the Premises for more than 60 days; then the Landlord may re-enter shall vacate and take deliver up possession of the Premises as though and the Tenant City may without notice or other occupant was holding over after any form of legal process and without any adherence to public law duties or procedural fairness or the expiration principles of natural justice, forthwith re-enter the Term Premises and this Leas may, at repossess and enjoy the Landlord’s option, be immediately terminated by notice left at the Premisessame.