Common use of Headlease Clause in Contracts

Headlease. Forfeiture proceedings are commenced against an Obligor under a Headlease or a Headlease is forfeited, provided that an Event of Default will not occur if the Agent is satisfied that such Obligor has commenced an action for relief against forfeiture within five Business Days of the date of commencement of such proceedings, is at all times using all reasonable endeavours to pursue such action and is acting in accordance with the directions of the Agent in respect of such action.