Default Provisions Conditional Limitation Sample Clauses

Default Provisions Conditional Limitation. Section 16.01. Subject to the provisions of Sections 16.02 and 16.03, if one or more of the events in Section 16.01.A, B or C (an "Event of Default") shall have occurred and shall not have been remedied, within any applicable cure period, then Landlord may, at Landlord's option, give to Tenant a notice of election to end the term of this Lease at the expiration of five (5) days from the date of service of such notice, and, if that notice is given, if same is not cured within such time, then, at the expiration of those five (5) days the term of this Lease and all right, title, and interest of Tenant under it shall expire as fully and completely as if that day were the date specifically fixed for the expiration of the term of this Lease, and Tenant will then quit and surrender the Demised Premises to Landlord, but Tenant shall remain liable as hereinafter provided. A. Default shall be made in the payment of the Rent or any other fixed financial obligation of Tenant to Landlord when due and such default shall continue for a period of five (5) days after the due date, or default shall be made n the payment of any non-recurring financial obligation for a period of five (5) days after notice; or B. Default shall be made in the performance of any other covenant or agreement on the part of Tenant to be performed under this Lease, and such default shall continue for a period of thirty (30) days after notice thereof, specifying such default, shall have been given to Tenant; provided, however, in the case of a default which cannot with reasonable diligence be remedied by Tenant within a period of thirty (30) days, if Tenant shall commence within such period of thirty (30) days to remedy the default and thereafter shall prosecute the remedying of such default with all reasonable diligence, the period of time after the giving of such notice within which to remedy the default shall be extended for such period as may be necessary to remedy the same with all reasonable diligence, but in no event longer than an additional thirty (30) days. (1) If Tenant, shall (a) make an assignment for the benefit of creditors, (b) file or acquiesce to a petition in any court (whether or not pursuant to any statute of the United States or of any state) in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, or (c) make an application in any such proceedings for or acquiesce to the appointment of a trustee or receiver for it or all of any portion o...

Default Provisions Conditional Limitation