Tenant-Specific Default definition

Tenant-Specific Default means any Event of Default that: (a) arises from any lien or encumbrance attaching solely to the Leasehold Estate (not the Fee Estate) but junior to the Leasehold Mortgage; or (b) is a Nonmonetary Default that Leasehold Mortgagee or New Tenant cannot with diligence and commercially reasonable efforts cure, but specifically excluding any default in connection with Tenant’s Construction Obligations, which shall not be deemed to be a Tenant-Specific Default.
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Tenant-Specific Default means any Nonmonetary Default that by its nature relates only to, or can reasonably be performed only by, Tenant or its Affiliates.
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Tenant-Specific Default means any Default that: (a) is not reasonably susceptible of cure by a Leasehold Mortgagee, such as (to the extent, if any, that it actually constitutes a Default under this Lease) any Default resulting from a Bankruptcy Proceeding affecting any Person; prohibited transfer; prohibited change of management; failure to deliver required financial information within Tenant's control; failure to remove or retain any particular officer, employee, or director of Tenant; failure to comply with restrictions or requirements regarding nondisclosure, competition, or obligations regarding other activities that relate to other real property of Landlord or Tenant; (b) by its nature relates only to, or can reasonably be performed only by, Tenant or its Affiliates; or (c) consists of Tenant's failure to satisfy or discharge any lien, charge, or encumbrance that: (1) attaches to the Leasehold Estate but not the Fee Estate; (2) is junior to the Leasehold Mortgage; and (3) this Lease prohibits. TENANT-SPECIFIC OBLIGATION. A "TENANT-SPECIFIC OBLIGATION" shall mean any obligation whose breach would constitute a Tenant-Specific Default.
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Examples of Tenant-Specific Default in a sentence

  • In no event shall any Leasehold Mortgagee or New Tenant be required to cure any Tenant-Specific Default as a condition to obtaining or retaining a New Lease or otherwise.


More Definitions of Tenant-Specific Default

Tenant-Specific Default means any Tenant Default that: (i) Leasehold Mortgagee or New Tenant cannot reasonably cure; or (ii) arises from any lien or encumbrance that attaches solely to this Lease (not to the Fee Estate) but is junior to the Leasehold Mortgage.
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Tenant-Specific Default means any Event of Default that: (a) arises from any lien or encumbrance attaching solely to the Leasehold Estate (not the Fee Estate) but junior to the Leasehold Mortgage; (b) is a Nonmonetary Default that Leasehold Mortgagee or New Tenant cannot with diligence and commercially reasonable efforts cure, but specifically excluding any default in connection with Tenant’s Construction Obligations, which shall not be deemed to be a Tenant-Specific Default, or (c) arises from a Bankruptcy Action or any related action, omission, event, circumstance, matter or related Event of Default.
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Related to Tenant-Specific Default

  • Landlord Default shall have the meaning given such term in Article 14.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Minor Default means any Event of Default that is not a Major Default.

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p) of this Note.

  • Tenant Delay means an actual delay in the occurrence of the Substantial Completion Date or the Final Completion Date with respect to Landlord’s Work as the result of: (1) any unreasonable delay by Tenant in approving the Plans; (2) any request by Tenant that Landlord delay the commencement or completion of Landlord’s Work for any reason; (3) any request by Tenant to change the Plans after initial approval thereof by Tenant, or the making of any changes to Landlord’s Work requested by Tenant and agreed to by Landlord after initial approval of the Plans by Tenant; (4) any failure by Tenant to respond in writing within seven (7) business days after any written request by Landlord for clarification or interpretation of the Plans or for approval of changes in the Plans deemed necessary by Landlord; or (5) any other act or omission of Tenant or its officers, agents, employees or contractors; Notwithstanding the foregoing, no event shall be deemed to be a Tenant Delay until and unless Landlord has given Tenant written notice (the “Tenant Delay Notice”) advising Tenant (i) that a Tenant Delay is occurring, (ii) of the basis on which Landlord has determined that a Tenant Delay is occurring, and (iii) the actions which Landlord believes that Tenant must take to eliminate such Tenant Delay, and Tenant has failed to correct the Tenant Delay specified in the Tenant Delay Notice within forty-eight (48) hours following receipt thereof. No period of time prior to expiration of such 48-hour period shall be included in the period of time charged to Tenant pursuant to such Tenant Delay Notice if Tenant corrects the Tenant Delay specified in the Tenant Delay Notice within such 48-hour period.