OPERATOR'S DEFAULT Clause Samples
The "Operator's Default" clause defines the circumstances under which the operator of a contract is considered to be in default. Typically, this clause outlines specific actions or failures—such as not performing required services, breaching material terms, or failing to make payments—that would trigger a default status. For example, if the operator fails to maintain equipment as agreed or does not comply with safety regulations, these could constitute defaults under this clause. Its core practical function is to clearly establish what constitutes a breach by the operator, thereby providing a basis for the other party to seek remedies or terminate the agreement if necessary.
OPERATOR'S DEFAULT. If this agreement is terminated by reason of a default by Operator, Licensee shall have the option (i) with respect to an Equipment Purchase, to purchase the Transferable Equipment at a price equal the lesser of (A) to the then fair market value of the Transferable Equipment (taking into account depreciation) or (B) the net book value of the Transferable Equipment, or (ii) with respect to an Equipment Lease, to lease the Transferable Equipment from Operator for a period of not longer than the date on which the FCC License expires or is otherwise terminated at a lease rate equal to the then fair market lease value of the Transferable Equipment.
OPERATOR'S DEFAULT. Each of the following events shall constitute an "Event of Default" hereunder (whatever the reason for such event of default and whether it shall be voluntary or involuntary, or come about or be effected by operation of law, or be pursuant to or in compliance with any judgment, degree, or order of any court of any order, rule, or regulation of any administrative or governmental body):
a. Operator shall fail to make payment of any Aggregate Rental within thirty (30) days after the same shall become due and such failure shall continue for five (5) days after written notice thereof from Owner to Operator; or
b. Operator shall fail to perform or observe any covenant, condition, or agreement to be performed or observed by it under this Agreement or any agreement, document, or certificate delivered by Operator in connection herewith. Owner shall endeavor to provide Operator with written notice and three (3) days to cure such breach, except in the case of emergency or a continuing breach which cannot be cured; or
c. Any representation or warranty made by Operator in this Agreement or any agreement, document, or certificate delivered by the Operator in connection herewith is or shall become incorrect in any material respect, and, if such a default is susceptible of being corrected, Operator fails to correct such default within three (3) days of a written notice of Owner requesting correction of same; or
d. Operator shall become insolvent; or
e. Operator makes an assignment for the benefit of creditors, or if a petition is file by or against Operator under any bankruptcy or insolvency law; or
f. A receiver is appointed for Operator or any of Operator's property.
OPERATOR'S DEFAULT. The occurrence of any of the following events shall constitute a default by Operator under this Agreement: (i) Operator fails to timely pay any installment of rent or any additional rent; (ii) Operator ceases to provide any service that Operator is required to provide under this Agreement for a period of seven (7) consecutive days;
OPERATOR'S DEFAULT. If Operator shall fail in the material performance of or material compliance with any of the material covenants, agreements, terms or conditions contained in this Agreement and shall continue for a period of thirty (30) days after written notice thereof from NYRA to Operator specifying in detail the nature of such failure, or, in the case such failure cannot with due diligence be cured within such period of thirty (30) days, if Operator fails to proceed promptly and with all due diligence to cure the same and thereafter to prosecute the curing of such failure with all due diligence, it being intended that in connection with a failure not susceptible of being cured with due diligence within thirty (30) days that the time within which to cure the same shall be extended for such period as may be necessary to complete the same with all due diligence unless such failure is not susceptible to cure regardless of time period in which case no cure period shall be provided;
OPERATOR'S DEFAULT. The breach of any provision of this Agreement, the failure to keep, observe or perform any covenant including, without limitation, the occurrence of any one or more of the following events shall constitute a default and breach of this Agreement by OPERATOR, which will allow CITY to terminate the Agreement:
a. OPERATOR'S abandonment or vacation of the Premises for more than 24 consecutive hours;
b. OPERATOR'S failure promptly and fully to perform any other covenant, condition or agreement contained in this Agreement where such failure continues for thirty
OPERATOR'S DEFAULT. The Operator shall be in default of its obligations under this Agreement if the Operator: (a) fails to perform any of its obligations under this Agreement and such failure continues for fifteen (15) days after receipt by the Operator of notice of such failure from the User; or (b) takes any action to prevent or hinder the performance by the User of any of his obligations under the Agreement. In the event of any default by the Operator, the User may terminate the Agreement immediately and pursue any other remedy available to the User in law or equity.
OPERATOR'S DEFAULT. The occurrence of any of the following shall constitute a default by Operator under this Permit:
i. Operator’s failure to pay when due any fee required to be paid under this Permit if the failure continues for three (3) days after written notice of the failure from County to Operator.
ii. Operator’s failure to perform any other obligation under this Permit if the failure continues for fifteen (15) days after written notice of the failure from County to Operator.
iii. Operator’s failure to comply with Section 5 of this Permit.
iv. Conduct or behavior by operator and/or its employees, agents, clients, contractors, subcontractors, and representatives that demonstrates in the judgment of County that Operator is not able to comply with the requirements of Section 5 of this Permit.
OPERATOR'S DEFAULT. In the event the Operator fails to comply with every this Agreement ("Default") and such Default has not been cured by the Operator within the time specified below for such cure, the City may immediately terminate this Agreement by delivering written notice of such termination to the Operator. Operator shall have three (3) days to effect a cure of any default involving the remittance of any City receivable and ten (10) days to effect a cure of any other default; each such cure period shall commence upon the Operator's receipt of the City's notice specifying such Default and demand for its correction.
OPERATOR'S DEFAULT. The occurrence of any one or more of the following events shall be deemed an Event of Default by Operator:
10.1.1 Default in the payment of any amount due hereunder on the part of Operator to be paid within the time periods specified herein if such default continues for a period of 5 days after written notice, specifying such default, is given to Operator;
10.1.2 Default in the performance of any other covenant or agreement on the part of Operator to be performed hereunder, within the time periods specified herein, but subject to Unavoidable Delays, if such default continues for a period of 30 days after written notice, specifying such default, is given to Operator. However, in the case of a default which cannot with due diligence be remedied by Operator within such period of 30 days, if Operator proceeds as promptly as may reasonably be possible after the service of such notice and with all due diligence to remedy such default, and thereafter prosecutes the remedying of such default with all due diligence, the period of time after the giving of such notice within which Operator may remedy such default shall be extended for such period as may be necessary to remedy the same with all due diligence (including any period of Unavoidable Delays);
10.1.3 The making by Operator of any assignment for the benefit of creditors, the filing by or against Operator of a petition to have Operator adjudged bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy or insolvency (unless in the case of a petition filed against Operator, the same is dismissed within 90 days), the appointment of a trustee or receiver to take possession of all or substantially all of Operator's assets or of Operator's interest under this Agreement where possession is not restored to Operator within 90 days, or the attachment, execution or other judicial seizure of all or substantially all of Operator's assets or of Operator's interest under this Agreement, where such seizure is not discharged within 90 days; or
10.1.4 Operator's abandonment or surrender of the Airport Movement Areas or any portion thereof.
OPERATOR'S DEFAULT. The OPERATOR’s breach of any provision of this Agreement, the failure to keep, observe or perform any material covenant including, without limitation, the occurrence of any one or more of the following events shall constitute a default and breach of this Agreement by OPERATOR:
a) OPERATOR's abandonment or vacation of the Premises;
b) OPERATOR's expenditure of Direct Costs exceeds the Direct Cost Budget by 10% annually of, except if the level of such costs is greater than might reasonably be caused by increased patronage of the Premises, results from causes beyond OPERATOR’s reasonable control or if OPERATOR has given CITY written notice of the event(s) causing such cost overruns
c) OPERATOR's Cost of Goods Sold for Pro Shop merchandise during any six (6) month period exceeds 80% of gross sales during that period and food and beverages during any six (6) month period exceeds 45% of gross sales during that period except if the level of such costs is greater than might reasonably be caused by increased levels of patronage of the Premises, results from causes beyond OPERATOR’s reasonable control or if OPERATOR has given CITY written notice of the event(s) causing such cost overruns;
d) OPERATOR’s use of Bank Account funds for any purpose not expressly provided for by this Agreement or approved by the Director in writing;
e) The levy of a writ of attachment or execution on this Agreement or on any of the property of OPERATOR located in or on the Premises and such levy or execution is not stayed prior to the enforcement of such writ of attachment or execution; or
f) An event of bankruptcy or insolvency including but not limited to: (i) OPERATOR applies for or consents to the appointment of a receiver, trustee or liquidator of OPERATOR or of all or a substantial part of its assets; (ii) OPERATOR files a voluntary petition in bankruptcy or commences a proceeding seeking reorganization, liquidation, or an arrangement with creditors; (iii) OPERATOR files an answer admitting the material allegations of a bankruptcy petition, reorganization proceeding, or insolvency proceeding filed against OPERATOR; (iv) OPERATOR admits in writing its inability to pay its debts as they come due;