Common use of Lessee Default Clause in Contracts

Lessee Default. Each of the following events shall constitute a “Lessee Default”: 6.1.1. Lessee materially breaches any term of this Agreement and (i) if such breach is capable of being cured within thirty (30) days after Lessor’s notice of such breach, Lessee has failed to cure the breach within such thirty (30) day period, or (ii) if Lessee has diligently commenced work to cure such breach during such thirty (30) day period but such breach is not capable of cure within such period, Lessee has failed to cure the breach within a further one hundred fifty (150) day period (such aggregate period not to exceed one hun- dred eighty (180) days from the date of Lessor’s notice); and (i) Lessee commences a voluntary case under any bankruptcy law; (ii) Les- see fails to controvert in a timely and appropriate manner, or acquiesces in writing to, any petition filed against Lessee in an involuntary case under any bankruptcy law; or (iii) any involuntary bankruptcy proceeding commenced against Lessee remains undismissed or un- discharged for a period of sixty (60) days.

Appears in 1 contract

Sources: System Site Lease Agreement

Lessee Default. Each of the following events shall constitute a “Lessee Default”: 6.1.1. 7.1.1 Lessee materially breaches any material term of this Agreement and (i) if such breach is capable of being cured within thirty (30) days after Lessor’s notice of such breach, Lessee has failed to cure the breach within such thirty (30) day period, or (ii) if Lessee has diligently commenced work to cure such breach during such thirty (30) day period but such breach is not capable of cure within such period, Lessee has failed to cure the breach within a further one hundred and fifty (150) day period (such aggregate period not to exceed one hun- dred hundred and eighty (180) days from the date of Lessor’s notice); and (i) Lessee commences a voluntary case under any bankruptcy law; ; (ii) Les- see Lessee fails to controvert in a timely and appropriate manner, or acquiesces in writing to, any petition filed against Lessee ▇▇▇▇▇▇ in an involuntary case under any bankruptcy law; or or (iii) any involuntary bankruptcy proceeding commenced against Lessee ▇▇▇▇▇▇ remains undismissed or un- discharged undischarged for a period of sixty (60) days.

Appears in 1 contract

Sources: System Site Lease Agreement

Lessee Default. Each of the following events shall constitute a “Lessee Default”: 6.1.1. 8.1.1 Lessee materially breaches any term of this Agreement Lease and (i) if such breach is capable of being cured within thirty (30) days after Lessor’s notice of such breach, Lessee has failed to cure the breach within such thirty (30) day period, or (ii) if Lessee has diligently commenced work to cure such breach during such thirty (30) day period but such breach is not capable of cure within such period, Lessee has failed to cure the breach within a further one hundred fifty ninety (15090) day period (such aggregate period not to exceed one hun- dred eighty hundred twenty (180120) days from the date of Lessor’s notice); andor 8.1.2 (i) Lessee commences a voluntary case under any bankruptcy law; (ii) Les- see Lessee fails to controvert in a timely and appropriate manner, or acquiesces in writing to, any petition filed against Lessee in an involuntary case under any bankruptcy law; or (iii) any involuntary bankruptcy proceeding commenced against Lessee ▇▇▇▇▇▇ remains undismissed or un- discharged undischarged for a period of sixty (60) days.

Appears in 1 contract

Sources: Carport System Site Lease Agreement

Lessee Default. Each of the following events shall constitute a “Lessee Default”: 6.1.1. 7.1.1 Lessee materially breaches any material term of this Agreement and (i) if such breach is capable of being cured within thirty (30) days after Lessor’s notice of such breach, Lessee has failed to cure the breach within such thirty (30) day period, or (ii) if Lessee has diligently commenced work to cure such breach during such thirty (30) day period but such breach is not capable of cure within such period, Lessee has failed to cure the breach within a further one hundred and fifty (150) day period (such aggregate period not to exceed one hun- dred hundred and eighty (180) days from the date of Lessor’s notice); and 7.1.2 (i) Lessee commences a voluntary case under any bankruptcy law; (ii) Les- see Lessee fails to controvert in a timely and appropriate manner, or acquiesces in writing to, any petition filed against Lessee in an involuntary case under any bankruptcy law; or (iii) any involuntary bankruptcy proceeding commenced against Lessee ▇▇▇▇▇▇ remains undismissed or un- discharged undischarged for a period of sixty (60) days.

Appears in 1 contract

Sources: Power Purchase Agreement