Examples of Act of Default in a sentence
At any time during the Term, expiry of the Term, if an Act of Default occurs or upon termination of this Lease if the Tenant is in arrears of any rent whatsoever the Tenant agrees that the Landlord shall be permitted to register such lien on the Hangar under the Personal Property Security Act and possession of the Hangar will not be obtained by the Tenant until the lien is paid in full with all accrued interest and legal fees.
Should Tenant do any of the foregoing without the prior written consent of Landlord, it shall constitute an Act of Default (as hereinafter defined) and shall enable Landlord to resort to any of its remedies hereunder.
Notwithstanding any other provision of this Agreement, if the Hauler commits an Act of Default, then until the resolution of such Act of Default and for a period of [two years] thereafter, OTS may in its sole discretion require that Hauler advise it, no less than [48 hours] in advance, of the time and location all deliveries of Used Tires to Registered Processors, and permit an OTS representative to observe any aspect of such delivery.
If CMAR commits an Act of Default under Section B of this Article, County will give written notice by FAX and Certified Mail, Return Receipt Requested to CMAR and CMAR’s Performance Bond Surety (“Surety”).
The Association may also advance funds to any Injured Person, Threatened Owner or any other person who is damaged by an Act of Default to compensate them for their expenses (including legal fees).