SECURITY DEPOSIT PAYMENT DEFAULT Clause Samples

SECURITY DEPOSIT PAYMENT DEFAULT. If Tenant shall fail to pay any Security Deposit at the time and in the amount required by SECTION 2 of Article III hereof, Landlord shall give Tenant written notice specifying such default and Tenant shall then have fifteen (15) Business Days from the date Landlord gave such written notification to Tenant in which to cure the same. If after such fifteen (15) Business Day period Tenant shall not have cured such default, then Landlord shall give Tenant a second and final notice specifying such default. If Tenant shall fail to cure such default within five (5) days after such second and final notice, then such failure shall constitute a "SECURITY DEPOSIT PAYMENT DEFAULT."
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Related to SECURITY DEPOSIT PAYMENT DEFAULT

  • Other Payment Default The Borrower shall default in the payment when and as due (whether at maturity, by reason of acceleration or otherwise) of interest on any Loan or Reimbursement Obligation or the payment of any other Obligation, and such default shall continue for a period of three (3) Business Days.

  • Payment Defaults Tenant shall fail to pay any installment of Rent or any other payment hereunder when due; provided, however, that Landlord will give Tenant notice and an opportunity to cure any failure to pay Rent within 3 days of any such notice not more than once in any 12 month period and Tenant agrees that such notice shall be in lieu of and not in addition to, or shall be deemed to be, any notice required by law.

  • Payment Default Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

  • No Payment Default Except for payment delinquencies that have been continuing for a period of not more than 29 days, no payment default under the terms of any Receivable exists as of the Cutoff Date.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."