Common use of Default by Subtenant Clause in Contracts

Default by Subtenant. (a) Each of the following occurrences shall be considered a “Default”: (i) Subtenant’s failure to pay any portion of Rent or Additional Rent within five (5) days of when due; and (ii) Subtenant’s failure to comply with any term, provision, condition or covenant of this Sublease, if the failure is not cured within thirty (30) days after written notice to Subtenant of such failure. In the event a default in the nature of clause (ii) above cannot be remedied using commercially reasonable efforts within such thirty (30) day period, Subtenant shall not be in Default provided Subtenant commences commercially reasonably steps to remedy the Default within said thirty (30) day period and delivers written notice to Sublandlord of the same, and thereafter diligently prosecutes the same to completion. (b) Upon a Subtenant Default, Sublandlord may choose: (a) re-enter the Premises and terminate this Sublease and hold Subtenant responsible for all damages resulting from the breach; or (b) re-enter the Premises, keep this Sublease intact, and attempt to relet the Premises on behalf of Subtenant as Subtenant’s agent; or (c) choose not to re-enter but to hold Subtenant responsible for all terms of this Sublease. Upon re-entering the Premises, Sublandlord may relet the Premises or any part thereof for such term, on such conditions, and at such rental as Sublandlord may deem advisable with the right to make alterations and repairs to the Premises and no such re-entry shall be considered or construed to be forcible entry or detainer.

Default by Subtenant. (a) Each Any of the following occurrences shall be considered constitutes a “material breach of this Sublease by Subtenant ("Default”: "): (i) Subtenant’s failure Subtenant fails to pay any portion monetary obligation for a period of Rent or Additional Rent within five three (53) days of when dueafter notice from Sublandlord; and or (ii) Subtenant’s failure Subtenant fails to comply with perform any term, provision, condition or covenant other obligation of this Sublease, if the Sublease for more than a reasonable time (not exceeding ten (10) days) after Sublandlord delivers notice to Subtenant (unless the failure complained of, other than a failure for the payment of money, cannot be cured within such ten (10)-day period, then Subtenant shall not be considered to be in Default of the Sublease so long as it commences to cure the Default within such ten (10)-day period and thereafter diligently and continuously prosecutes the cure to completion, but not more than sixty (60) days); or (iii) Subtenant vacates or abandons the Premises; or (iv) Subtenant makes a general assignment for the benefit of creditors; or (iv) a Governmental Use Action occurs under Section 5.1(d)(iii); or (v) the attachment or judicial seizure of substantially all of Subtenant's assets located at the Premises or Subtenant's interest in this Sublease (where the seizure is not cured discharged within thirty (30) days after written notice to Subtenant of such failure. In the event a default in the nature of clause (ii) above cannot be remedied using commercially reasonable efforts within such thirty (30) day period, Subtenant shall not be in Default provided Subtenant commences commercially reasonably steps to remedy the Default within said thirty (30) day period and delivers written notice to Sublandlord of the same, and thereafter diligently prosecutes the same to completion. (b) Upon a Subtenant Default, Sublandlord may choose: (a) re-enter the Premises and terminate this Sublease and hold Subtenant responsible for all damages resulting from the breachdays); or (bvi) re-enter Subtenant or any Guarantor fails to pay its debts as they become due or admits in writing its inability to pay its debts, or makes a general assignment for the Premises, keep this Sublease intact, and attempt to relet the Premises on behalf benefit of Subtenant as Subtenant’s agentcreditors; or (cvii) choose not any financial statements given to re-enter but to hold Subtenant responsible for all terms Sublandlord by Subtenant, any assignee of this Sublease. Upon re-entering the PremisesSubtenant, Sublandlord may relet the Premises any Guarantor, or any part thereof for such term, on such conditions, and at such rental as Sublandlord may deem advisable with the right to make alterations and repairs to the Premises and no such re-entry shall be considered Transferee of Subtenant are materially false or construed to be forcible entry or detainer.misleading; or