Definition of Tenant Monetary Default

  1. Tenant Monetary Default means (i) a default by any tenant in the payment of scheduled rent under its Lease which continues beyond any applicable grace period, or (ii) the filing of any petition or the commencement of any case or proceeding by or against any tenant under any provisions or chapter of the Federal Bankruptcy Code or any other federal or state law relating to insolvency, bankruptcy, rehabilitation, liquidation or reorganization.

Definition of Tenant Monetary Default in Loan and Security Agreement

Tenant Monetary Default means (i) a default by any tenant in the payment of scheduled rent under its Lease which continues beyond any applicable grace period, or (ii) the filing of any petition or the commencement of any case or proceeding by or against any tenant under any provisions or chapter of the Federal Bankruptcy Code or any other federal or state law relating to insolvency, bankruptcy, rehabilitation, liquidation or reorganization.