Common use of Default by Subtenant Clause in Contracts

Default by Subtenant. The occurrence of any of the following events shall constitute a default by Subtenant under this Sublease: (a) Subtenant fails to pay in a timely manner any installment of Sublease Basic Monthly Rent or any other sum due under the Lease or this Sublease within three (3) business days after receipt of written notice that the same is past due; (b) Subtenant fails to observe or perform in a timely manner any other term, covenant or condition to be observed or performed by Subtenant under the Lease or this Sublease within ten (10) calendar days after written notice is given to Subtenant of such failure; provided, however, that if more than ten (10) calendar days is reasonably required to cure such failure, Subtenant shall not be in default if Subtenant commences such cure within such ten (10) day period and diligently prosecutes such cure to completion; (c) Subtenant files a petition in bankruptcy, becomes insolvent, has taken against Subtenant in any court, pursuant to state or federal statute, a petition in bankruptcy or insolvency or for reorganization or appointment of a receiver or trustee, petitions for or enters into an arrangement for the benefit of creditors or suffers this Sublease to become subject to a writ of execution; or (d) Subtenant vacates or abandons the Subleased Premises.

Default by Subtenant. The occurrence of any of the following events shall constitute a default by Subtenant under this Sublease: (a) Subtenant fails to pay in a timely manner any installment of Sublease Basic Monthly Rent or any other sum due under the Lease or this Sublease within three five (35) business days after receipt of written notice is given to Subtenant that the same is past due; (b) Subtenant fails to observe or perform in a timely manner any other term, covenant or condition to be observed or performed by Subtenant under the Lease or this Sublease within ten (10) calendar business days after written notice is given to Subtenant of such failure; provided, however, that if more than ten (10) calendar business days is reasonably required to cure such failure, Subtenant shall not be in default if Subtenant commences such cure within such ten (10) business day period and diligently prosecutes such cure to completion; or (c) Subtenant files a petition in bankruptcy, becomes insolvent, has taken against Subtenant in any court, pursuant to state or federal statute, a petition in bankruptcy or insolvency or for reorganization or appointment of a receiver or trustee, petitions for or enters into an arrangement for the benefit of creditors or suffers this Sublease to become subject to a writ of execution; or (d) Subtenant vacates or abandons the Subleased Premises.

Default by Subtenant. The occurrence (a) Upon the happening of any of the following events shall constitute a default by Subtenant under this Sublease: following: (ai) Subtenant fails to pay in a timely manner any installment of Sublease Basic Monthly Rent or any other sum due under the Lease or this Sublease within three (3) business days after receipt of written notice that the same is past due; (b) Subtenant fails to observe or perform in a timely manner any other term, covenant or condition to be observed or performed by Subtenant under the Lease or this Sublease within ten (10) calendar days after written the due date; (ii) Subtenant fails to pay any other amount due by the applicable due date from Subtenant hereunder and such failure continues for five (5) days after notice thereof from Sublandlord to Subtenant; (iii) Subtenant fails to perform or observe any other covenant or agreement set forth in this Sublease and such failure continues for seven (7) days after notice thereof from Sublandlord to Subtenant; or if such failure to perform or observe is given to Subtenant of such failure; providednot curable within seven (7) days, however, that if more than ten (10) calendar days is reasonably required to cure such failure, Subtenant shall not be in default if Subtenant commences fails to commence such cure within such ten seven (107) day period and diligently prosecutes pursue such cure to completion; . (civ) any other event occurs which involves Subtenant files or the Premises and which would constitute a petition default under the Master Lease if it involved Sublandlord or the premises covered by the Master Lease; (b) In the event Subtenant fails or refuses to make any payment or perform any covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, amounts so paid and amounts expended in bankruptcyundertaking such performance, becomes insolventtogether with all costs, has taken against Subtenant expenses and attorneys’ fees incurred by Sublandlord in any courtconnection therewith, pursuant to state or federal statute, a petition in bankruptcy or insolvency or for reorganization or appointment of a receiver or trustee, petitions for or enters into an arrangement for the benefit of creditors or suffers this Sublease to become subject to a writ of execution; or (d) Subtenant vacates or abandons the Subleased Premisesshall be additional rent hereunder.