Common use of Default Provisions Clause in Contracts

Default Provisions. Each of the following shall constitute a default by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on three separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a five day period in which to cure any such failure; or (b) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord's delivery to Tenant of written notice of such default under this Section 21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then Landlord shall not exercise its remedies under Section 22 unless such default remains uncured for more than 60 days after Landlord's notice.

Appears in 1 contract

Sources: Lease Agreement (MRS Fields Financing Co Inc)

Default Provisions. Each of the following shall constitute a default by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within five days after written notice from Landlord of such failure to pay on the due date; hereunder, provided, however, that if in that, upon the first two occurrences of any consecutive 12 month period, Tenant shall, on three separate occasions, fail to pay such delinquency during any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is duegiven Operational Year, Landlord shall be relieved from any obligation to provide notice to Tenantnotify Tenant in writing of such delinquency, and such delinquency shall constitute a default hereunder only if it continues for five (5) business days after delivery of such notice from Landlord; (b) if Tenant shall then no longer have a five day period in which to cure any such failureabandons or vacates the Premises; or (bc) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord's ’s delivery to Tenant of written notice of such default under this Section 21.2(b21.2 (b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then Landlord shall not exercise its remedies under Section 22 unless such default remains uncured for more than 60 sixty (60) days after Landlord's ’s notice.

Appears in 1 contract

Sources: Lease Agreement (Digital Lightwave Inc)

Default Provisions. Each of the following shall constitute a default by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment within seven (7) days of the date when due hereunder within five days after written notice from Landlord of such failure to pay on the due date; (provided, however, that if for the first occurrence within any period of twelve (12) consecutive months of a failure by Tenant to pay Rent or another payment under this Lease on or before the due date therefor as specified in any consecutive 12 month periodthis Lease, Tenant shall, on three separate occasions, fail will not be in default under this Lease unless Tenant's failure to pay any installment such Rent or other payment continues for more than seven (7) days after written notice of Rent on the date such installment of Rent failure is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice given to Tenant, and Tenant shall then no longer have a five day period in which to cure any such failure); or (b) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord's delivery to Tenant of written notice of such default under this Section subsection 21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then Landlord shall not exercise its remedies under Section 22 unless such default remains uncured for more than 60 sixty (60) days after Landlord's noticeinitial delivery to Tenant of notice of such default.

Appears in 1 contract

Sources: Industrial Building Lease (Gantos Inc)

Default Provisions. Each of the following shall constitute a default by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on three two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a five day period in which to cure any such failure; or (b) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord's delivery to Tenant of written notice of such default under this Section SECTION 21.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then Landlord shall not exercise its remedies under Section SECTION 22 unless such default remains uncured for more than 60 days after the initial delivery of Landlord's original default notice.

Appears in 1 contract

Sources: Industrial Building Lease (Research Inc /Mn/)

Default Provisions. Each of the following shall constitute a default by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder and fails to cure such breach within five (5) days after receipt of Landlord's written notice from Landlord of such failure to pay on the due date; thereof (provided, however, that if such notice from Landlord shall not be a condition precedent to declaring such default by Tenant after Landlord has given such notice twice in any consecutive 12 twelve (12) month period, Tenant shall, on three separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a five day period in which to cure any such failure); or (b) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord's delivery to Tenant of written notice of such default under this Section 21.2(bsubsection 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then Landlord shall not exercise its remedies under Section 22 21 unless such default remains uncured for more than 60 sixty (60) days after Landlord's noticeinitial delivery to Tenant of notice of such default.

Appears in 1 contract

Sources: Industrial Building Lease (Sparta Foods Inc)

Default Provisions. Each of the following shall constitute a default by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within five days after subject to written notice from by Landlord of such default and Tenant's failure to pay on the due date; providedcure such default within ten (10) days thereafter, however, provided that if in Landlord shall only be required to give Tenant one written notice of any consecutive 12 monetary default within any twelve (12) calendar month period, Tenant shall, on three separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a five day period in which to cure any such failure; or (b) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord's delivery to Tenant of written notice of such default under this Section 21.2(bsubsection 18.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then Landlord shall not exercise its remedies under Section 22 Article 18 unless such default remains uncured for more than 60 sixty (60) days after Landlord's notice.. RIGHTS AND REMEDIES

Appears in 1 contract

Sources: Lease (Atmi Inc)

Default Provisions. Each of the following shall constitute a default by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within five ten (10) days after written notice thereof from Landlord of such failure to pay on the due date; (provided, however, that if and to the extent Tenant fails to pay Rent or any other payment when due hereunder more than twice in any consecutive 12 twelve (12) month period, Tenant shall, on three separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any have no obligation whatsoever to provide such written notice to Tenant, and Tenant shall then no longer have a five day period in which to cure or allow any such failureten (10) day period); or (b) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord's delivery to Tenant of written notice of such default under this Section 21.2(bsubsection 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then than Landlord shall not exercise its remedies under Section 22 21 unless such default remains uncured for more than 60 sixty (60) days after Landlord's noticeinitial delivery to Tenant of notice of such default.

Appears in 1 contract

Sources: Industrial Building Lease (Sabratek Corp)

Default Provisions. Each of the following shall constitute a default by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within five days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on three two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent Relit on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a five day period in which to cure any such failure; or (b) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord's delivery to Tenant of written notice of such default under this Section 21.2(b21.2(b ); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then Landlord shall not exercise its remedies under Section 22 unless such default remains uncured for more than 60 days after the initial delivery of Landlord's original default notice.

Appears in 1 contract

Sources: Lease Agreement (Wentworth Ii Inc)

Default Provisions. Each of the following shall constitute a default by Tenant under this Lease: (a) if Tenant fails to pay Rent or any other payment when due hereunder within and such failure remains uncured for a period of (i) five (5) business days after following written notice from Landlord of such failure to pay on the due date; provided, however, that if two (2) occasions in any consecutive 12 twelve (12) month period, Tenant shalland (ii) within five (5) business days after the same is due on any subsequent occasion within said twelve (12) month period, on three separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a five day period in which to cure any such failure; or (b) if Tenant fails, whether by action or inaction, fails to timely comply with, or satisfy, any or all of with the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 thirty (30) days after Landlord's delivery to Tenant of written notice of such default under this Section 21.2(bSECTION 20.1(B); provided, however, that if the default cannot, by its nature, be cured within such 30 thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 thirty (30) day cure period, then Landlord shall not exercise its remedies under Section 22 SECTION 21 unless such default remains uncured for more than 60 beyond a reasonable time period required to cure such default not to exceed one hundred fifty (150) days after Landlord's notice, or (c) Tenant shall assign or sublet all or a portion of the Premises in contravention of the provisions of SECTION 7 of this Lease.

Appears in 1 contract

Sources: Industrial Building Lease (Tractor Supply Co /De/)