Cumulative Default Sample Clauses
The Cumulative Default clause defines a situation where multiple defaults, even if individually minor, are aggregated to trigger a default event under a contract. In practice, this means that if a party repeatedly breaches certain obligations—such as missing several small payments or failing to meet minor deadlines—these breaches can be counted together to reach a threshold that constitutes a formal default. The core function of this clause is to protect the non-breaching party from a pattern of repeated minor violations that, when taken together, undermine the contract’s integrity, thereby allowing for remedies or termination that would not be available for isolated incidents.
Cumulative Default. Notwithstanding the notice and cure periods set forth above, and subject to the inspection procedures or rights set forth herein, City shall only be required to provide tenant with notice and opportunity to cure two (2) cumulative defaults in any calendar year. Only for purposes of this paragraph, cumulative default means: (i) tenant’s failure to pay money due under this lease; (ii) tenant’s failure to comply with the use of premises section of this lease; and (iii) any violation of the terms and conditions of this lease which has the likelihood in City’s reasonable discretion to cause harm to life or property. In addition, City shall only be required to provide tenant with notice and opportunity to cure two (2) defaults of failing to allow an inspection of the premises in any calendar year. Beginning with the third (3rd) cumulative default or third (3rd) failure to allow an inspection in any calendar year, City will not be required to provide notice and opportunity to cure and may immediately take such action as City deems appropriate under this lease.
Cumulative Default. Notwithstanding the written notice and cure periods set forth above, MAC shall only be required to provide Tenant with notice and opportunity to cure two (2) Cumulative Defaults in any calendar year. Only for purposes of this paragraph, Cumulative Default means: (i) Tenant’s failure to timely pay money due under this Lease; (ii) Tenant’s failure to submit a report to MAC as required by Ordinance 107; (iii) Tenant’s failure to comply with Section 3 [Use of Leased Property] of this Lease; and (iv) any violation of the terms and conditions of this Lease which has the likelihood in MAC’s reasonable discretion to cause harm to life or property. In addition, MAC shall only be required to provide Tenant with notice and opportunity to cure two (2) defaults of failing to allow an inspection of the Leased Property in any calendar year. Beginning with the third (3rd) Cumulative Default or third (3rd) failure to allow an inspection in any calendar year, MAC will not be required to provide notice and opportunity to cure for such Cumulative Default or failure and may immediately take such action as MAC deems appropriate under this Lease.
Cumulative Default. Notwithstanding the notice and cure periods set forth above, and subject to the inspection procedures or rights set forth herein, City shall only be required to provide Tenant with notice and opportunity to cure two (2) cumulative defaults in any calendar year. Only for purposes of this paragraph, cumulative default means: (i) Tenant’s failure to pay money due under this lease; (ii) Tenant’s failure to comply with the use of premises section of this lease; and
Cumulative Default. Notwithstanding the notice and cure periods set forth above, and subject to the inspection procedures or rights set forth herein, City shall only be required to provide Lessee with notice and opportunity to cure two