Lessee Default definition

Lessee Default means any default by the applicable Lessee in payment of a total of three months of rent pursuant to such Lease, and such default remains uncured for more than 120 days from the original due date of the latest payment resulting in a total of three months of rent remaining unpaid.

Lessee Default has the meaning ascribed thereto in Section 10.3.

Lessee Default has the meaning ascribed thereto in Section 16.1(a).

Examples of Lessee Default in a sentence

• In the case of any item of Software or License Agreement subject to a Lease Schedule, at the time of the occurrence of a Non-Appropriation or a Lessee Default, Lessee shall also be automatically deemed to have reassigned any License Agreement, and all Software.

• So long as no Lessee Default exists, and no event shall have occurred and be continuing which, with the giving of notice or the passage of time or both, would constitute a Lessee Default, neither Lessor nor any party acting or claiming through Lessor, by assignment or otherwise, will disturb Xxxxxx’s quiet enjoyment of the Equipment during the Term of the related Lease.

• So long as no Lessee Default exists, and no event shall have occurred and be continuing which, with the giving of notice or the passage of time or both, would constitute a Lessee Default, neither Lessor nor any party acting or claiming through Lessor, by assignment or otherwise, will disturb Xxxxxx’s quiet enjoyment of the Equipment during the Total Term of the related Lease.

• Upon acceptance of the Equipment by Lessee hereunder, title to the Equipment will vest in Lessee; provided, however, that (i) in the event of termination of this Lease by Lessee pursuant to Section 7 hereof, or (ii) upon the occurrence of a Lessee Default as defined in Section 22 hereof, and as long as such Lessee Default is continuing, title to the Equipment (including Substitute Equipment) will immediately vest in Lessor or its assignee.

More Definitions of Lessee Default

Lessee Default has the meaning specified in Section 21.

Lessee Default has the meaning specified in Section 22. “Lessor” has the meaning specified in the preamble hereof.

Lessee Default means any of the following events or circumstances:

Lessee Default means a “Lessee Default” under, and as defined in, the Master Lease Agreement.

Lessee Default under this Agreement means Xxxxxx’s failure to cure a Lessee Breach under this Agreement within (a) ten (10) days after Xxxxxx’s receipt of written notice from County in the case of the payment of money, or (b) thirty (30) days after Xxxxxx’s receipt of written notice from County in the case of any other obligation or covenant of Lessee under this Agreement; provided, however, that if the nature of the Lessee Breach under this clause (b) is such that it cannot with reasonable diligence be cured within thirty (30) days, then the cure period set forth in this clause (b) shall be extended for such additional period as reasonably required for the cure of the Lessee Breach as long as Lessee commences cure of the Lessee Breach within thirty (30) days after Xxxxxx’s receipt of written notice from County and diligently prosecutes such cure to completion.

Lessee Default shall have the meaning set forth in Section 12.1 hereof.

Lessee Default means an event that with the giving of notice or the lapse of time, or both, would constitute a Lessee Event of Default, (c) the term “Lessor Event of Default” shall mean any event described in Section 11.2 hereof, and (d) the term “Lessor Default” shall mean an event that with the giving of notice or the lapse of time, or both, would constitute a Lessor Event of Default.