Xxxxxx's Default. The occurrence of any of the following events shall constitute a default by Tenant under this Agreement: (i) Tenant fails to timely pay any installment of rent or any additional rent; (ii) Tenant ceases to provide any service that Tenant is required to provide under this Agreement for a period of seven (7) consecutive days; (iii) Tenant violates any requirement under this Agreement and fails to cure the same within twenty (20) days following written notice of such violation from City (except that in the case of insurance coverage required to be maintained, such period shall be five (5) days); (iv) Tenant assigns or encumbers any right in this Agreement, delegates any performance hereunder, or subleases any part of the Premises (except as expressly permitted in this Agreement); (v) Tenant files a petition in bankruptcy, becomes insolvent, or has a petition filed against Tenant in bankruptcy, insolvency, or for reorganization or appointment of a receiver or trustee which is not dismissed within sixty (60) days; (vi) Tenant petitions for or enters into an arrangement for the benefit of creditors, or suffers this Agreement to become subject to a writ of execution and such writ is not released within thirty (30) days; or (vii) Tenant is in breach of this Agreement (including, but not limited to, operational deficiencies pursuant to Section 4.K.viii) three (3) or more times during a twelve (12) month period (whether or not cured).
Xxxxxx's Default. If LESSOR should default in the performance of any provision, covenant, condition or obligation on its part to be performed under this Lease, and such default is not cured or commenced to be cured (and diligently prosecuted to completion thereafter) within sixty (60) days after written notice from LESSEE to LESSOR specifying the default, LESSEE may, at its option, perform the same at the expense of LESSOR. LESSEE shall then have the right in that event to deduct its reasonable and documented costs and expenses (including reasonable attorney’s fees) incurred by it by reason of any such default of LESSOR under this Lease against the next ensuing monthly installment(s) of Rent hereunder until it has been fully reimbursed for same. Regardless of the foregoing, if XXXXXX’s default materially impairs the operations of LESSEE at the Leased Premises LESSEE may, upon the expiration of the aforesaid sixty (60) day cure period and LESSOR having failed to cure (or to commence to cure and diligently pursue thereafter) during such sixty (60) day period, give LESSOR a second notice of default and state therein that XXXXXX’s failure to timely cure the default (or commence to cure and diligently pursue) is materially interfering with the LESSEE’s operations at the Leased Premises. XXXXXX shall then have a period of fifteen (15) Business Days from the receipt of the second notice to cure (or commence to cure and diligently pursue) the default. If LESSOR fails to cure the default within the fifteen (15) Business Day period, LESSEE, in addition to all other remedies available to LESSEE at law or in equity for LESSOR’s default, shall have the right to terminate this Lease upon notice to LESSOR given at any time thereafter, but before actual cure of the default by XXXXXX. Such termination shall be effective on a date specified in the notice which is not more than thirty (30) days following the date of the notice. In the event of such termination by XXXXXX, LESSOR, after deduction for unpaid Rent through the effective date of the termination, shall pay to LESSEE an amount equal to the net book value (i.e., the cost less straight line depreciation over the shorter of (i) useful life of the improvement under the Internal Revenue Code or (ii) twenty-five (25) years), as of the effective date of the termination, of any improvements to the Leased Premises by LESSEE that were approved by LESSOR under Section 5.06 or any other applicable provision of this Lease. LESSOR’s obligation to ...
Xxxxxx's Default. A. Any one of the following shall constitute an event of default by Lessee hereunder:
Xxxxxx's Default. If Landlord applies the security deposit as contemplated by this Section, Tenant shall, within five (5) days after written demand therefore by Landlord, deposit with Landlord the amount so applied. If Tenant complies with all of the covenants and conditions of this Lease throughout the Lease term, the security deposit shall be repaid to Tenant without interest within thirty (30) days after the surrender of the Premises by Xxxxxx in the condition required hereunder by Section 11 of this Lease.
Xxxxxx's Default. 15.1 The following events shall each constitute "events of default" on the part of the Lessee hereunder:
Xxxxxx's Default. A “Default” will mean the occurrence of any one or more of the following events:
Xxxxxx's Default. A. Xxxxxx's breach of any of the terms of this Lease shall constitute a default and shall be a basis for termination of the Lease. Lessor shall provide Lessee written notice of the breach or violation and, if applicable, the corrective action required of Lessee. The notice shall specify the reasonable time to make a correction or cure the violation or breach if a correction or cure is possible. If the corrective action or cure is not taken within the specified time or does not occur, then the Lessor may cancel the Lease effective on the date specified for the corrective action or cure to have taken place.
Xxxxxx's Default. Each of the following shall be an event of default ("Event of Default") hereunder:
Xxxxxx's Default. If on the Closing Date, Seller fails to perform the transaction described in this Contract for any reason, except Purchaser’s default, Purchaser may as its sole and exclusive remedy terminate this Contract by giving notice to Seller and shall receive the Xxxxxxx Money, less the Option Fee as independent consideration for the right granted by Seller to Purchaser to terminate this Contract, thereby releasing Seller from this Contract. BID #23-004 SALE OF REAL PROPERTY – FORMER BUS BARN
