Default by Operator. Each of the following events shall be deemed to constitute breach of this Agreement and, unless cured within ninety (90) days, shall constitute a default hereunder by the Operator:
Default by Operator. Thirty (30) days after the acceleration by any Borrower of the obligations of an Operator as a result of any default in the payment of amounts which are due and owing under any lease, note, mortgage or related security documents in connection with any Facility of such Operator (such Facility, herein referred to as the "DEFAULTED FACILITY"), in the event the Lease Rental Expense and/or Mortgage Expense arising from the Defaulted Facility accounts for 20% or more of the aggregate amount of all Lease Rental Expense and/or Mortgage Expense owing to the Borrowers from all Operators during the immediately preceding four (4) calendar quarters.
Default by Operator. Ninety (90) days after the occurrence of any default by an Operator in the payment of amounts which are due and owing under any lease, note, mortgage or deed of trust (or related security documents) between an Operator and any Borrower or any other event of default by an Operator under the applicable lease, note, mortgage or deed of trust (or related security document) as a result of which such Borrower accelerates the obligations of such Operator, with respect in each case to an Operator whose aggregate Lease Rental Expense and/or Mortgage Expense accounts for 15% or more of the aggregate amount of all Lease Rental Expense and/or Mortgage Expense owing to the Borrowers from all Operators. -82- 89
Default by Operator. Thirty (30) days after the acceleration by the Borrower or any Subsidiary of the obligations of an Operator as a result of any default in the payment of amounts which are due and owing under any lease, note, mortgage or related security documents in connection with any Facility of such Operator (such Facility, herein referred to as the “Defaulted Facility”), in the event the Lease Rental Expense and/or Mortgage Expense arising from the Defaulted Facility accounts for 20% or more of the aggregate amount of all Lease Rental Expense and/or Mortgage Expense owing to the Borrower and the Subsidiaries from all Operators during the immediately preceding four calendar quarters.
Default by Operator. Each of the following shall independently constitute a Default by Operator:
Default by Operator. The occurrence of any one or more of the following events constitutes a default by the Operator under this Agreement ("Operator Default"):
Default by Operator. In the event of any default by the Operator under any covenant, agreement or obligation of this Agreement, subject to the arbitration permitted in Section 706 hereof, each Participant may bring any suit, action or proceeding in law or in equity, including mandamus, injunction, and action for specific performance as may be necessary or appropriate to enforce any covenant, agreement, or obligation or this Agreement against the Operator. Default by the Operator shall not relieve any Participant of its liability for payment of amounts specified herein.
Default by Operator. The following events shall be deemed to be Events of Default by Operator under this Agreement:
Default by Operator. A material failure to keep, perform, meet or comply with any covenant, agreement, term or provision of this Agreement to be kept, observed, met, performed, or complied with by OPERATOR hereunder, which such failure continues for a period of ten (10) days after OPERATOR has written notice thereof, shall constitute an Event of Default on the part of the OPERATOR, provided, however, that OPERATOR shall not be in default if it is taking all reasonable actions to comply with such agreement and that such compliance can be obtained in not more than thirty (30) days. OPERATOR shall indemnify INDUSTRY CONTRACTOR and AQ for all losses incurred by reason of not being able to conduct the contemplated activities at the Buildings.
Default by Operator. If Operator fails to perform any obligation to be performed by Operator hereunder, the Xxxxx Entities shall give Operator a written notice of default setting forth in reasonable detail the defaults of Operator and stating the actions that, if taken and pursued to completion, would cure such defaults. If Operator has not cured such defaults within thirty (30) days after receiving said notice, or within a reasonable time after receiving said notice (if the default is of a kind that reasonably cannot be cured within thirty (30) days), the Xxxxx Entities shall have the right and option to remove the Operator as provided in Section 11.6 and/or to terminate this Agreement and to pursue its remedies at law or in equity, subject to the provisions of Section 10.
