Material Monetary Default definition

Material Monetary Default means the failure to pay to TM royalty fees when due and payable pursuant to Paragraph 2C herein and unpaid for a period exceeding ten (10) days after receipt of written notice unless such payments are then being contested by MARKETING in good faith.
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Material Monetary Default means any failure by Tenant (A) to pay Fixed Rent or Real Estate Taxes, in either case when, as and in the amount required to be paid by Tenant pursuant to the terms of this Restated Lease or (B) in the case of insurance, to maintain the insurance coverage required in Article 12. Notwithstanding the preceding sentence, a "Material Monetary Default" will not be deemed to occur with respect to Tenant's failure to pay any Real Estate Tax unless Tenant fails to pay such Real Estate Tax on or prior to the last day on which such Real Estate Tax may be paid to the appropriate taxing authority without penalty or interest.
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Material Monetary Default means Monetary Defaults by a Member and/or any Members that are Affiliates of such Member shall have occurred (i.e., the Member and/or any Member who is an Affiliate of such Member that committed a Potential Monetary Default has failed to contribute the required capital contribution within ten (10) Business Days after receiving the Default Notice pursuant to Section 4.3(b)) and the cumulative amount of unfunded capital under such Monetary Defaults which have not been cured by the applicable Defaulting Member and Members that are Affiliates of such Defaulting Member is in excess of $250,000 at the time such determination is being made.
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Examples of Material Monetary Default in a sentence

  • TM shall have the right to terminate this License Agreement upon (a) a Material Monetary Default or (b) the determination that a Material Non-Monetary Default has occurred, as provided in this Paragraph 13, and such Material Non-Monetary Default has not been cured by MARKETING within one year of such determination or within thirty (30) days of such determination if the breach giving rise to such Material Non-Monetary Default constitutes commingling as described in Section 1 of Schedule B attached hereto.

  • An Event of Default shall be deemed to have occurred if a Material Monetary Default shall occur and the Material Monetary Default shall continue and not be remedied for ten (10) days after Landlord has given Tenant Notice of such Material Monetary Default, specifying in reasonable detail the amount of money required to be paid by Tenant and the nature of such payment (any such Event of Default being referred to hereinafter as a "Material Monetary Event of Default").

  • The term "Material Monetary Default" means any failure by Tenant (A) to pay Fixed Rent or Real Estate Taxes, in either case when, as and in the amount required to be paid by Tenant pursuant to the terms of this Restated Lease or (B) in the case of insurance, to maintain the insurance coverage required in Article 12.

  • Without limiting the preceding sentence, in the event of a Material Monetary Default, Landlord shall diligently endeavor to relet the Premises under any circumstances where such reletting would mitigate Landlord's damages, provided, however, that Landlord shall only be obligated to relet or sell the Premises or any Property in a manner consistent with fair market economic conditions at that time and other terms and conditions customary at that time.

  • Notwithstanding the preceding sentence, a "Material Monetary Default" will not be deemed to occur with respect to Tenant's failure to pay any Real Estate Tax unless Tenant fails to pay such Real Estate Tax on or prior to the last day on which such Real Estate Tax may be paid to the appropriate taxing authority without penalty or interest.

  • The term "Non-Monetary Default" means any failure by Tenant to comply with any terms or provisions of, or perform as required by, this Restated Lease, other than a Material Monetary Default or a Non-Material Monetary Default.

  • A copy of any Notice of Tenant's Material Monetary Default delivered to Guarantor pursuant to this Article shall simultaneously be sent to Akin, Gump, Strauss, Haue▇ ▇▇▇ Feld, ▇.L.P., 590 ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇tention: Patr▇▇▇ ▇▇▇▇▇▇, ▇▇q.

  • In any Insolvency Proceeding, Landlord's claims against the assets of Tenant with respect to a Material Monetary Default accruing prior to the Liability Termination Date shall be paid in full before any payment is made to Guarantor, including any payment in connection with reimbursement for payment of a Material Monetary Default to or on behalf of Tenant, whether such payment is in kind or in cash.

  • If, however, Tenant is the subject of any Insolvency Proceeding (or Landlord is otherwise not reasonably able to give Tenant Notice of Tenant's Material Monetary Default) then Landlord may give Guarantor a Material Monetary Default Notice whether or not Landlord has given or simultaneously gives Tenant a Notice of Tenant's Material Monetary Default, and such Material Monetary Default Notice shall be fully valid and effective as against Guarantor, as if it had already been given to Tenant.

  • Guarantor waives presentment; notice of dishonor; protest and notice of non-payment, non-performance or non-observance; notice of acceptance of this Guaranty; notice of any obligations or liabilities contracted or incurred by Tenant; and all other notices and demands otherwise required by law which Guarantor may lawfully waive, except for giving Guarantor (but not Tenant) the Material Monetary Default Notice.


More Definitions of Material Monetary Default

Material Monetary Default means any failure of Tenant to pay the items set forth in Section 17.1(a) after the applicable notice and grace period of which the aggregate unpaid amount equals or exceeds Fifty Thousand ($50,000) Dollars.
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Material Monetary Default means a Default in the amount of $5,000.00 or more; provided, however, that in the event that Tenant in good faith shall have notified Landlord that Tenant disputes a particular amount which Landlord has, charged to Tenant (other than an amount owed as Base Rent. and amounts in excess of $125,000.00), then, notwithstanding anything to the contrary in this Lease, Tenant's failure to pay such amount after applicable notice and cure periods shall not constitute a "material monetary Default."
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Material Monetary Default means an uncured monetary default under the Lease for non-payment of Base Rent in excess of
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Material Monetary Default means an uncured monetary default under the Lease for non-payment of Base Rent in excess of $10,000.00.
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Material Monetary Default means Monetary Default(s) by a Partner and/or any Partners that are Affiliates of such Partner shall have occurred (i.e., the Partner and/or any Partner who is an Affiliate of such Partner that committed a Potential Monetary Default has failed to contribute the required capital contribution within ten (10) Business Days after receiving the Default Notice pursuant to Section 4.3(b)) and the cumulative amount of unfunded capital under such Monetary Defaults which have not been cured by the applicable Defaulting Partner and Partners that are Affiliates of such Defaulting Partner is in excess of $250,000 at the time such determination is being made.
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Related to Material Monetary Default

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Senior Nonmonetary Default means the occurrence or existence and continuance of any event of default with respect to any Designated Senior Debt, other than a Senior Payment Default, permitting the holders of such Designated Senior Debt (or a trustee or agent on behalf of the holders thereof) to declare such Designated Senior Debt due and payable prior to the date on which it would otherwise become due and payable. In the event that, notwithstanding the foregoing, the Company shall make any Securities Payment to the Trustee or any Holder prohibited by the foregoing provisions of this Section, and if such fact shall, at or prior to the time of such Securities Payment, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such Securities Payment shall be paid over and delivered forthwith to the Company. The provisions of this Section shall not apply to any Securities Payment with respect to which Section 1203 would be applicable.

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).