A Default definition
A Default. Any action or inaction or omission by You or any guest or visitor or occupant that causes a "strike" to be placed on any property owned or managed by Us shall be a default of the Lease.
A Default under the Note or Borrower's failure to perform its obligations under this Agreement shall constitute a default under this Agreement.
A Default gives LANDLORD the right (without further notice except as hereinafter expressly provided) to: (a) immediately reenter the Leased Premises, change the locks, and remove all persons and property; (b) at TENANT's expense, store or sell said property for TENANT's account; (c) treat said property as abandoned upon TENANT's failure to remove it within ten (10) days of written demand to remove; (d) make alternations and repairs; (e) without terminating the Lease, relet all or part of the Leased Premises, at TENANT's expense and for its account, on such terms, for such rentals, and for such a term as LANDLORD in its sole discretion deems advisable and/or (f) resort to any other remedy authorized by this Lease or by statute, law or equity. Whether or not LANDLORD reenters and/or relets the Leased Premises, TENANT will remain liable for all periods in which this Lease is in full force and not terminated, for the Gross Rent, Base Rent, Additional Rent and utilities due hereunder, subject only to a credit for rentals received from a substitute tenant over and above expenses of reletting and other sums due hereunder. Additionally, whether or not LANDLORD has already resorted to any other above- mentioned right, LANDLORD may elect, by giving a written notice, to terminate the Lease effective as of any date specified in the notice. No act, including the re-entering and/or reletting, except the giving of such notice, shall be deemed a termination, or acceptance of surrender of the Lease. Upon said effective date, TENANT will comply with any surrender provisions. TENANT will be liable for (a) all expenses and damages incurred by LANDLORD resulting, whether before or after termination, from a Default, including without limitation reasonable attorney's fees and brokers' fees to obtain a new tenant, reclaiming possession and alteration or repair costs to obtain a new tenant and (b) 10% interest on any sum due under the Lease, from the date 10 days after the date due. Whether or not LANDLORD terminates the Lease, LANDLORD may elect, by giving written notice, to accelerate unaccrued rent and hold TENANT immediately liable for the net present value of the excess of the Gross (if applicable) and Base rents payable during the remainder of the Lease term over the reasonable rental value (on a triple net basis) of the Lease Premises for such period, using a 10% discount rate, plus LANDLORD's cost to relet the Leased Premises and to prepare the Leased Premises for a new tenant and o...
Examples of A Default in a sentence
A Default or Event of Default shall be deemed to exist at all times during the period commencing on the date that such Default or Event of Default occurs to the date on which such Default or Event of Default is waived in writing pursuant to this Agreement or, in the case of a Default, is cured within any period of cure expressly provided for in this Agreement; and an Event of Default shall “continue” or be “continuing” until such Event of Default has been waived in writing by the Required Lenders.
A "Default" by Lessee is defined as a failure by Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to Lessee under this Lease.
A "Default" is defined as a failure by the Lessee to comply with or perform any of the terms, covenants, conditions or rules under this Lease.
A Default or an Event of Default shall be deemed to exist at all times during the period commencing on the date that such Default or Event of Default occurs to the date on which such Default or Event of Default is waived in writing pursuant to this Agreement or, in the case of a Default, is cured within any period of cure expressly provided for in this Agreement; and an Event of Default shall “continue” or be “continuing” until such Event of Default has been waived in writing by Required Lenders.
A "Default" is defined as a failure by the Lessee to comply with or perform any of the terms, covenants, conditions or Rules and Regulations under this Lease.
More Definitions of A Default
A Default of the subject Loan that is not cured upon the expiration of applicable cure periods shall also, at Lender’s sole option, constitute a default of all other loans and indebtedness owing by Borrower to Lender, whether presently existing or hereafter made during the term of the subject Loan, including without limitation under or pursuant to any Financial Contract. Further, a default of any other loan or indebtedness owing by Borrower to Lender (including without limitation under or pursuant to any Financial Contract) or to anyone else, whether presently existing or hereafter made during the term of the subject Loan, which default is not cured upon the expiration of applicable cure periods shall also, at Lender’s sole option, constitute a default of the subject Loan.
A Default means:
(i) TeamStaff fails to pay (whether when due, upon acceleration or otherwise) any sum owed hereunder; or
(ii) TeamStaff: becomes insolvent or bankrupt; makes an assignment for the benefit of creditors or consents to the appointment of a trustee or receiver; a trustee or a receiver is appointed for a Borrower or for a significant portion of a Borrower's assets; bankruptcy, reorganization or insolvency proceedings are instituted by or against a Borrower; or if any of the foregoing occurs with respect to any guarantor or other party liable for any of a Borrower's obligations owing to Lender.
A Default has occurred and is continuing under the Loan Agreement by reason of the Borrower's failure to maintain a minimum consolidated Fixed Charge Coverage Ratio of at least 1.10 to 1 for the Fiscal Quarter ending on September 30, 1997, as required under Section 10.1(a) of the Loan Agreement (the "Existing Default"), as a result of which the Lenders are entitled to exercise the rights and remedies provided for in the Loan Agreement. The Borrower has requested that the Lenders waive the Existing Default, modify certain financial covenants and amend certain other provisions of the Loan Agreement, and the Lenders have agreed, upon and subject to the terms, conditions and provisions of this Amendment.
A Default. (as defined in the Master Netting, Setoff, and Security Agreement dated as of ________ among ______________, as the same may be amended (the "Master Agreement")) has occurred and is continuing with respect to the Account Group or any member of the Account Group under the Master Agreement and no Default has occurred and is continuing with respect to the beneficiary of this Letter of Credit or any other member of its Group (as defined in the Master Agreement). Wherefore, the undersigned does hereby demand payment of $_________________"; or
A Default. (as defined in the Lease) has occurred by Inflow, Inc. under that certain Lease Agreement between Inflow, Inc. and (the "Lease") and Tenant has failed to cure its default after the expiration of any applicable cure period and therefore the EXHIBIT "A" ----------- EXHIBIT A Land ---- [DIAGRAM] EXHIBIT "B" ----------- Premises, including parking area and equipment area EXHIBIT B Premises -------- [DIAGRAM] EXHIBIT "C" ----------- Landlord and Tenant agree to attach the Plans and Specifications of the Premises for the tenant improvements to be constructed by Tenant prior to the Commencement Date. Tenant shall submit its Plans and Specifications for the initial improvements on or before February 1, 2000. Landlord's review of such Plans and Specifications shall be performed in accordance with the provisions of the Addendum attached to this Lease.
A Default. (other than an Event of Default) is "CONTINUING" if it has not been remedied or waived and an Event of Default or Certain Funds Event of Default is "CONTINUING" if it has not been remedied or waived.
A Default means the occurrence of any of the following: