Lease Default. Grantor shall, at ▇▇▇▇▇▇▇’s sole cost and expense, give Grantee prompt written notice of any Lease Default (defined below). The term “Lease Default” shall mean there shall exist (i) any “Event of Default” as defined in any Lease, or (ii) any default under a Lease by Grantor after the expiration of any applicable notice or cure period, in respect of a covenant, misrepresentation, violation or other occurrence that Grantee, in its reasonable discretion, determines to be a material covenant, misrepresentation, violation or occurrence under such Lease.
Appears in 3 contracts
Sources: Deed to Secure Debt (Cole Credit Property Trust III, Inc.), Deed to Secure Debt (Cole Credit Property Trust III, Inc.), Deed to Secure Debt (Cole Credit Property Trust III, Inc.)