Examples of Material Lease Default in a sentence
To the best of the Borrower’s knowledge, no Material Lease Default, no Lease Event of Default and no Total Loss or event which, with the passage of time, would become a Total Loss, has occurred.
No Event of Loss, Lease Event of Default, Material Lease Default or event that with the passage of time or notice or both would constitute a Lease Event of Default will occur solely by the execution of this Agreement; provided, however, that the commencement or pendency of the Chapter 11 Cases (and any default related to the non-payment of Rent during the pendency of the Chapter 11 Cases) shall not be considered a Lease Event of Default for purposes of this Section 3.1.
No Lease Event of Default, Material Lease Default or event that with the passage of time or notice or both would constitute a Lease Event of Default has occurred or will occur upon execution and delivery of the Operative Documents.
The Lease Financing Parties shall attempt to conduct their inspections at the same time and, except during the continuance of a Material Lease Default or a Lease Event of Default or during the last 24 months of the Facility Lease Term (unless the Facility Lessee shall have exercised its option to renew the Facility Lease), no more than one inspection a year shall be conducted by any Lease Financing Party.
At such time as no Material Lease Default or Lease Event of Default shall be continuing, such amounts, net of any amounts previously applied to Lessee's obligations hereunder or under any other Operative Documents, shall be paid to Lessee.