Common use of Tenant Default Clause in Contracts

Tenant Default. In addition to any other default specifically described in this Lease, each of the following occurrences shall be a "Default": (a) Tenant's failure to pay any portion of Rent within five (5) business days after it was due ("Monetary Default"); provided, that Tenant shall be entitled to two (2) written notices from Landlord of such failure to pay each calendar year during the Term; (b) Tenant's failure (other than a Monetary Default) to comply with any term, provision, condition or covenant of this Lease, if the failure is not cured within fifteen (15) business days after written notice to Tenant; provided, however, if Tenant's failure to comply cannot reasonably be cured within fifteen (15) business days, Tenant shall be allowed additional time (not to exceed sixty (60) days) as is reasonably necessary to cure the failure so long as Tenant begins the cure within fifteen (15) business days and diligently pursues the cure to completion; (c) Tenant or any Guarantor becomes insolvent, makes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business unless in the case of such a proceeding filed against Tenant or any guarantor the same is dismissed within sixty (60) days;

Appears in 1 contract

Sources: Lease Agreement (Digimarc CORP)

Tenant Default. In addition to any other Tenant shall be in default specifically described in under this Lease, each Lease only upon the occurrence of one (1) or more of the following occurrences shall be events (each a "“Tenant Default": ”): (ai) Tenant's ’s failure to pay any portion of Rent when due, unless such failure is cured by Tenant within five ten (510) business days after it was due receives written notice from Landlord; or ("Monetary Default"); provided, that Tenant shall be entitled to two (2) written notices from Landlord of such failure to pay each calendar year during the Term; (bii) Tenant's ’s failure (other than a Monetary Default) to comply with any term, provision, condition or covenant of the terms of this LeaseLease other than those related to the payment of Rent, if the unless such failure is not cured within fifteen thirty (1530) business days after Tenant receives written notice to Tenantfrom Landlord; provided, however, provided if Tenant's such failure to comply cannot reasonably be cured within fifteen the aforementioned thirty (1530) business daysday period, then no Tenant Default shall be allowed additional time (not deemed to exceed sixty (60) days) as is reasonably necessary to cure the failure have occurred so long as Tenant begins the commences to cure such failure within thirty (30) days after receiving written notice from Landlord and completes such cure within fifteen a reasonable time thereafter; or (15iii) business days and diligently pursues (A) the cure filing by or against Tenant of a petition (voluntary or involuntary) seeking to completion; (c) have Tenant declared bankrupt or any Guarantor becomes insolvent, makes a transfer in fraud of creditors, makes an assignment for unless the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business unless in the case of such a proceeding filed against Tenant or any guarantor the same petition is dismissed within sixty (60) days;days after its filing, (B) the appointment of a receiver or trustee for all or substantially all of Tenant’s assets, or (C) the assignment of all or substantially all of Tenant’s assets for the benefit of its creditors.

Appears in 1 contract

Sources: Lease Agreement (American Outdoor Brands Corp)

Tenant Default. In addition to The occurrence and continuance of any other default specifically described in this Lease, each one or more of the following occurrences events during the Term shall be a "constitute an “Event of Default": ” under this Lease by Tenant: (a) Tenant's failure Tenant fails to pay Rent or any portion of Rent other payment due hereunder when such sum is due and such failure continues and is not remedied within five ten (510) business days after it was due ("Monetary Default"); providedwritten notice thereof to Tenant, provided that Tenant shall only be entitled to two such notice and cure period twice in any twelve (212) written notices from Landlord of such failure to pay each calendar year during the Term; month period; (b) Tenant's failure Tenant fails to comply with any provision of this Lease (other than a Monetary Defaultfailure in any payment due hereunder which is addressed by paragraph (a) to comply with any term, provision, condition or covenant of this Lease, if the above) and such failure continues and is not cured remedied within fifteen thirty (1530) business days after written notice thereof to Tenant; provided, however, that if Tenant's the failure to comply cannot reasonably not, by its nature, be cured within fifteen such thirty (1530) business daysday period, but Tenant has commenced and is diligently pursuing a cure of such failure, then no Event of Default shall be allowed additional time (not deemed to exceed sixty (60) days) as is reasonably necessary to cure the failure have happened so long as Tenant begins remedies the cure failure within fifteen (15) business days and diligently pursues the cure to completiona reasonable period of time; or (c) the filing of a petition is made against Tenant for adjudication of it as a bankrupt or any Guarantor becomes insolvent, makes or for its reorganization, or the appointment of a transfer in fraud receiver or trustee for the benefit of its creditors, makes if such petition is not dismissed within ninety (90) days of filing; or the filing of such a petition is made by Tenant; or an assignment is made by Tenant for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business unless in the case of such a proceeding filed against Tenant or any guarantor the same is dismissed within sixty (60) days;.

Appears in 1 contract

Sources: Lease Agreement (Ikaria, Inc.)

Tenant Default. In addition to The occurrence of any other default specifically described in this Lease, each of the following occurrences shall be an “Event of Default” by Tenant or a "“Tenant Default": ”: (a1) Tenant's The failure of Tenant to pay any portion Payment due and payable under Article 4 of Rent this Lease Agreement if such failure continues for more than ten (10) days after Landlord gives written notice to Tenant that such amount was not paid when due; (2) The failure of Tenant to perform each and every covenant and agreement of Tenant with respect to insurance policies and coverages to be maintained by Tenant pursuant to and in accordance with Article 8.01 of this Lease Agreement if such failure is not remedied within five (5) business days after it was due Landlord gives written notice to Tenant of such failure; ("Monetary Default"); provided, that 3) Any material representation or warranty confirmed or made in this Lease Agreement by Tenant shall be entitled found to two have been incorrect in any material respect when made or deemed to have been made if such failure is not remedied within thirty (30) days after Landlord gives notice to Tenant of such failure; (4) The failure of Tenant to keep, observe or perform any of the terms, covenants or agreements contained in this Lease Agreement on Tenant’s part to be kept, performed or observed (other than those referred to in clauses (1), (2), (3) written notices or above) if (i) such failure is not remedied by Tenant within thirty (30) days after notice from Landlord of such failure to pay each calendar year during the Term; default or (bii) Tenant's failure (other than a Monetary Default) to comply with any term, provision, condition or covenant of this Lease, if the failure is not cured within fifteen (15) business days after written notice to Tenant; provided, however, if Tenant's failure to comply cannot reasonably be cured within fifteen (15) business days, Tenant shall be allowed additional time (not to exceed sixty (60) days) as is reasonably necessary to cure the failure so long as Tenant begins the cure within fifteen (15) business days and diligently pursues the cure to completion; (c) Tenant or any Guarantor becomes insolvent, makes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business unless in the case of any such a proceeding filed against Tenant or any guarantor the same is dismissed default which cannot with due diligence and good faith be cured within sixty thirty (6030) days;, Tenant fails to commence to cure such default within thirty

Appears in 1 contract

Sources: Lease Agreement

Tenant Default. In addition to any other default specifically described in this Lease, each Each of the following occurrences shall be a constitutes an event of default (an "Event of Default": ) by Tenant: (a) Tenant's failure Tenant fails or refuses to pay any portion installment of Rent within Rent, Additional Rent, or any other sum payable under this Lease when due, and the failure or refusal continues for at least five (5) business days after it was the due ("Monetary Default")date; provided, that Tenant shall be entitled however, that, with respect to the first (1st) two (2) such failures to timely pay during any Lease Year only, no Event of Default on the part of Tenant shall be deemed to have occurred if Tenant cures such failure on or before the fifth (5th) business day after the delivery of written notices from Landlord notice of such failure from Landlord to pay each calendar year during the Term; Tenant. (b) Tenant's failure (other than a Monetary Default) Tenant fails or refuses to comply with any term, provision, condition or covenant provision of this LeaseLease not requiring the payment of money, if and the failure is not cured within fifteen or refusal continues for at least thirty (1530) business days after written notice to Tenantfrom Landlord; provided, however, if any failure by Tenant to comply with this Lease cannot be corrected within such 30-day period solely as a result of nonfinancial circumstances outside of Tenant's failure to comply cannot reasonably be cured control, and if Tenant has commenced substantial corrective actions within fifteen (15) business dayssuch 30-day period and is diligently pursuing such corrective actions, Tenant such 30-day period shall be allowed extended for such additional time (not to exceed sixty (60) days) as is reasonably necessary to cure the failure so long as Tenant begins the cure within fifteen (15) business days and diligently pursues the cure allow completion of actions to completion; (c) Tenant or any Guarantor becomes insolvent, makes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business unless in the case of such a proceeding filed against Tenant or any guarantor the same is dismissed within sixty (60) days;correct Tenant's noncompliance.

Appears in 1 contract

Sources: Lease Agreement (Net2000 Communications Inc)

Tenant Default. In addition to any other Tenant shall be in default specifically described in under this Lease, each Lease only upon the occurrence of one (1) or more of the following occurrences shall be events (each a "“Tenant Default": ”): (ai) Tenant's ’s failure to pay any portion of Rent when due, unless such failure is cured by Tenant within five ten (510) business days after it was due receives written notice from Landlord; or ("Monetary Default"); provided, that Tenant shall be entitled to two (2) written notices from Landlord of such failure to pay each calendar year during the Term; (bii) Tenant's ’s failure (other than a Monetary Default) to comply with any term, provision, condition or covenant of the terms of this LeaseLease other than those related to the payment of Rent, if the unless such failure is not cured within fifteen thirty (1530) business days after ▇▇▇▇▇▇ receives written notice to Tenantfrom Landlord; provided, however, provided if Tenant's such failure to comply cannot reasonably be cured within fifteen the aforementioned thirty (1530) business daysday period, then no Tenant Default shall be allowed additional time (not deemed to exceed sixty (60) days) as is reasonably necessary to cure the failure have occurred so long as Tenant begins the commences to cure such failure within thirty (30) days after receiving written notice from Landlord and completes such cure within fifteen a reasonable time thereafter; or (15iii) business days and diligently pursues (A) the cure filing by or against Tenant of a petition (voluntary or involuntary) seeking to completion; (c) Tenant have ▇▇▇▇▇▇ declared bankrupt or any Guarantor becomes insolvent, makes a transfer in fraud of creditors, makes an assignment for unless the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business unless in the case of such a proceeding filed against Tenant or any guarantor the same petition is dismissed within sixty (60) days;days after its filing, (B) the appointment of a receiver or trustee for all or substantially all of Tenant’s assets, or (C) the assignment of all or substantially all of Tenant’s assets for the benefit of its creditors.

Appears in 1 contract

Sources: Lease Agreement (American Outdoor Brands, Inc.)