Examples of Head Lease Event of Default in a sentence
Each of the events or circumstances set out in this Clause 15 is a Head Lease Event of Default and a repudiation of this Agreement by the Head Lessee.
A Head Lease Event of Default is deemed to occur under any Head Lessee Document.
The City was in good financial health to where they could spend time putting money into various places in the City where money needed to be spent.
Event of Default/Head Lease Event of Default Any Development Agreement (Expansion Property) Event of Default or Head Lease Event of Default occurs and such Development Agreement (Expansion Property) Event of Default or Head Lease Event of Default is not remedied to the satisfaction of the Head Lessor within the time specified by the Head Lessor.
The Head Lessee confirms that any failure to deliver such conditions subsequent within the required time frame shall be a Head Lease Event of Default.
If a Head Lease Event of Default shall have occurred and be continuing, any such insurance proceeds shall be paid to, or retained by, Head Lessor or the Indenture Trustee and applied in accordance with the priority of payments established under the Indenture.
To the extent that the Head Lessor shall at any time receive from the Head Lessee funds in excess of the Monthly Lease Payment and Supplemental Rent then due and payable, then, so long as no Head Lease Event of Default is then continuing, the Head Lessor shall promptly return to the Head Lessee the amount of such excess payment.
In the event that any payments received by Head Lessor or Indenture Trustee referred to in the immediately preceding sentence with respect to any Compressor exceed any amounts due and owing by Head Lessee to Head Lessor under the Related Documents, then, provided there are no amounts due and owing by Head Lessee under the Related Documents and no Head Lease Event of Default shall have occurred and be continuing, such excess shall forthwith be paid to Head Lessee.
Upon request by Head Lessor, Head Lessee shall promptly deliver to Head Lessor and Deal Agent (x) a schedule of all User Leases of the Compressor including Users certified by a Responsible Officer of Head Lessee and (y) for so long as a Head Lease Event of Default has occurred and is continuing, copies of each User Lease at the time in effect.
During the existence and continuance of a Head Lease Event of Default, the Head Lessor or its designee may, but shall not be obligated to, (i) subject to the terms of any Related Document, perform any and all acts required by the Head Lessee's covenants herein contained and take all such action thereon as in the Head Lessor's opinion may be reasonably necessary or appropriate therefor and (ii) make advances to perform the same.