Common use of Sublessee Default Clause in Contracts

Sublessee Default. The occurrence of any one or more of the following events shall constitute a default under this Sublease by Sublessee: a. The vacation or abandonment of the Subleased Premises by Sublessee without the payment of Minimum Monthly Rent. b. The failure by Sublessee to make any payment of Minimum Rent or any other payment required to be made by Sublessee hereunder on the date due where such failure shall continue for a period of five (5) business days after the same shall become due and payable. c. The failure by Sublessee to observe or perform any of the covenants, conditions or provisions of this Sublease other than as described in the immediately preceding paragraph and/or the failure by Sublessee to observe or perform any of the covenants, conditions or provisions of the Lease to which Sublessee has agreed to be

Appears in 2 contracts

Sources: Sublease Agreement (Landacorp Inc), Sublease Agreement (Landa Management Systems Corp)