Personal Default definition

Personal Default means any Nonmonetary Default of Tenant that is not reasonably susceptible of cure by a Leasehold Mortgagee or assignee of Tenant, such as (to the extent, if any, that any of the following may actually constitute a Default under this Lease) a Bankruptcy Proceeding affecting Tenant or any other Person; failure to deliver financial information within Tenant’s control; and any other Nonmonetary Default that by its nature relates only to, or can reasonably be performed only by, Tenant.

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Personal Default means any nonmonetary default under this Agreement that is not susceptible to cure by a Leasehold Mortgagee.

Personal Default means any nonmonetary default under this Agreement that is not susceptible to cure by a ArenaCo Lender.

Examples of Personal Default in a sentence

• In no event, however, shall the New Operator be required to cure a Personal Default of OVG as a condition to obtaining or retaining a New Agreement or otherwise.

• In no event, however, shall the New Operator be required to cure a Personal Default of ArenaCo as a condition to obtaining or retaining a New Agreement or otherwise.

• Any Default that may be cured by the payment of money is not a Personal Default.

• Nothing in the Prime Mortgagee protections provided for in this Lease shall be construed to either (a) extend the Term beyond the expiration date provided for in this Lease that would have applied if no Default had occurred; (b) require any Prime Mortgagee to cure any Personal Default by Tenant; (c) excuse Tenant or any Subtenant from personal liability for the performance of Lease obligations; or (d) prevent or delay any personal action against Tenant or any Subtenant or any of their respective assets.

• The financial condition of any Prime Mortgagee shall not be considered in determining whether a Default is a Personal Default.

• Any Default that can be cured by the payment of money is not a Personal Default.

More Definitions of Personal Default

Personal Default is a default that (a) cannot be cured by the payment of money or performance of maintenance, repair, or construction work or (b) is otherwise not readily susceptible to cure by a party other than Tenant.

Personal Default means any Nonmonetary Default that is not reasonably susceptible of cure by a Leasehold Mortgagee, such as (to the extent, if any, that any of the following may actually constitute a default) a bankruptcy proceeding affecting Lessee; a prohibited transfer; failure to deliver financial information within Lessee’s control; failure to remove or retain any particular officer, employee, or director of Lessee; failure to comply with restrictions on competition or other activities that relate to other sites owned or leased by Lessee; and any other Nonmonetary Default that by its nature relates only to, or can reasonably be performed only by, Lessee.