Lease Default Notice definition
Examples of Lease Default Notice in a sentence
For the sake of clarity, the parties acknowledge that during any Step In Period, the Tenant OSA shall continue in full force and effect and the provisions of Sections 2 hereof shall continue to be in effect as to any Rental Arrear as to which a Monetary Lease Default Notice has been given to BCLC.
For greater certainty, despite the termination of this Agreement, if the Landlord was prevented by court order or other applicable law from delivering a Monetary Lease Default Notice for Rental Arrear that accrued prior to such termination, at such time that BCLC does receive a Monetary Lease Default Notice for such Rental Arrear, BCLC will comply with this Section 2.
Licensor covenants to provide a copy of all notices delivered to Licensor from any landlord relating to a possible or actual default or threat to remove Licensor from any Site under Licensor's lease with such landlord immediately upon receipt thereof (the "Lease Default Notice").
Borrower agrees that failure of Borrower or RFI, as applicable, to timely provide any Ground Lease Default Notice to Bank shall be an Event of Default hereunder.
Colo Solutions covenants to provide a copy of all notices delivered to Colo Solutions from any landlord relating to a possible or actual default or threat to remove Colo Solutions from any Premises under Colo Solutions's lease with such landlord immediately upon receipt thereof (the "Lease Default Notice").
Notwithstanding the foregoing, if either party delivers a Lease Default Notice to the other party within ten (10) days prior to the scheduled date of Settlement, Seller shall have the right, but not the obligation, to extend the date of Settlement for up to ten (10) business days to attempt to resolve or cure the default in question.
If either Seller or Buyer becomes aware of any default under the Lease prior to Settlement, the party obtaining such knowledge shall promptly notify the other party thereof in writing (a "Lease Default Notice").
Therefore, it is a material condition and a material consideration to Bank’s making and continuing the Loan to Borrower that Borrower shall timely provide, or shall cause RFI to timely provide, any Ground Lease Default Notice to Bank.
Upon receipt of a Lease Default Notice which Licensee reasonably believes will result in a termination of Licensor's lease within thirty (30) days thereafter, Licensee may immediately notify Licensor of its intention to terminate the License for the Space covered by such notice and unless Licensor provides evidence in support of the lease continuing beyond such 30 day period within five (5) days after receipt of such notice, the Licensee may immediately terminate the License with respect to such Space.