Lessee Default definition

Lessee Default means any default by the applicable Lessee in payment of a total of three months of rent pursuant to such Lease, and such default remains uncured for more than 120 days from the original due date of the latest payment resulting in a total of three months of rent remaining unpaid.

Lessee Default has the meaning specified in Section 21.

Lessee Default has the meaning ascribed thereto in Section 16.1(a).

Examples of Lessee Default in a sentence

• Lessor and Lessee agree that if an attorney is consulted by Lessor in connection with a Lessee Default or Breach (as hereinafter defined), $350.00 is a reasonable minimum sum per such occurrence for legal services and costs in the preparation and service of a notice of Default, and that Lessor may include the cost of such services and costs in said notice as rent due and payable to cure said default.

• Lessor and Lessee agree that if an attorney is consulted by Lessor in connection with a Lessee Default or Breach (as hereinafter defined), $350.00 is a reasonable minimum sum per such occurrence for legal services and costs in the preparation and service of a notice of Default, and that Lessor may include the cost of such services and costs in said notice as rent due and payable to cure said Default.

• No Sublease shall be cancelled or terminated, and Lessor shall not take any affirmative action to cancel or terminate any Sublease, as a result of the surrender of the Project Property following a Lessee Default and any such attempts shall be null and void.

• Inspection, review or Audit not followed by a notice of Lessee Default shall not constitute a waiver of any Lessee Default or constitute an acknowledgement that there has been or will be compliance with this Agreement and applicable Law.

• Notwithstanding any of the provisions of this Section 4 to the contrary, if any Lessee Default shall have occurred and be continuing at any time during the last 90 days of the Then Applicable Term of any Lease, Lessor may cancel any Renewal Term or optional or other automatic extension of the Then Applicable Term immediately upon written notice to Lessee.

More Definitions of Lessee Default

Lessee Default means a “Lessee Default” under, and as defined in, the Master Lease Agreement.

Lessee Default means any of the following events or circumstances:

Lessee Default has the meaning ascribed thereto in Section 10.3.

Lessee Default shall have the meaning set forth in Section 12.1 hereof.

Lessee Default under this Agreement means Xxxxxx’s failure to cure a Lessee Breach under this Agreement within (a) ten (10) days after Xxxxxx’s receipt of written notice from County in the case of the payment of money, or (b) thirty (30) days after Xxxxxx’s receipt of written notice from County in the case of any other obligation or covenant of Lessee under this Agreement; provided, however, that if the nature of the Lessee Breach under this clause (b) is such that it cannot with reasonable diligence be cured within thirty (30) days, then the cure period set forth in this clause (b) shall be extended for such additional period as reasonably required for the cure of the Lessee Breach as long as Lessee commences cure of the Lessee Breach within thirty (30) days after Xxxxxx’s receipt of written notice from County and diligently prosecutes such cure to completion.

Lessee Default means: (i) failure of a Lessee under any Contract to make a Payment within ninety (90) days of the due date of that Payment; (ii) failure of any Lessee to perform any of its material obligations under any Contract; (iii) insolvency of any Lessee, inability of any Lessee to pay its debts as they mature, the making by any Lessee of an assignment for the benefit of creditors, or institution of any proceeding by or against any Lessee alleging that the Lessee is insolvent or unable to pay its debts as they mature.

Lessee Default shall have the meaning set forth in the Lease Agreement.