Events of Default Clause Example with 4 Variations from Business Contracts
This page contains Events of Default clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Events of Default. Each of the following occurrences shall be a “Default”: (a) Tenant’s failure to pay any portion of Rent when due, if the failure continues for five (5) days after written notice to Tenant (“Monetary Default”); (b) Tenant’s failure (other than a Monetary Default) to comply with any term, provision, condition or covenant of this Lease, if the failure is not cured within thirty (30) days after written notice to Tenant provided, however, if Tenant’s failure to comply cannot reasonably be cured withi...n thirty (30) days, Tenant shall be allowed additional time (not to exceed 60 days) as is reasonably necessary to cure the failure so long as Tenant begins the cure within ten (10) days after such notice to Tenant and diligently pursues the cure to completion; (c) Tenant or any guarantor of this Lease becomes insolvent, makes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business; (d) the leasehold estate is taken by process or operation of Law; or (e) Tenant is in default beyond any notice and cure period under any other lease or agreement with Landlord at the Building or Property. If Landlord provides Tenant with notice of Tenant’s failure to comply with any specific provision of this Lease on three (3) separate occasions during any 12-month period, Tenant’s subsequent violation of such provision shall, at Landlord’s option, be an incurable Default by Tenant. All notices sent under this Section shall be in satisfaction of, and not in addition to, notice required by Law.View More
Variations of a "Events of Default" Clause from Business Contracts
Events of Default. Each In addition to any other default specifically described in this Lease, each of the following occurrences shall be a “Default”: (a) Tenant’s failure to pay any portion of Rent when due, if the failure continues for five (5) 3 days after written notice to Tenant (“Monetary Default”); (b) Tenant’s failure (other than a Monetary Default) to comply with any term, provision, condition or covenant of this Lease, if the failure is not cured within thirty (30) 10 days after written notice to Tenant ...provided, however, if Tenant’s failure to comply cannot reasonably be cured within thirty (30) 10 days, Tenant shall be allowed additional time (not to exceed 60 days) as is reasonably necessary to cure the failure so long as Tenant begins the cure within ten (10) 10 days after such notice to Tenant and diligently pursues the cure to completion; (c) Tenant permits a Transfer without Landlord’s required approval or otherwise in violation of Section 11 of this Lease; (d) Tenant or any guarantor of this Lease Guarantor becomes insolvent, makes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business; (d) (e) the leasehold estate is taken by process or operation of Law; (f) in the case of any ground floor or (e) retail Tenant, Tenant does not take possession of or abandons or vacates all or any portion of the Premises; or (g) Tenant is in default beyond any notice and cure period under any other lease or agreement with Landlord at the Building or Property. If Landlord provides Tenant with notice of Tenant’s failure to comply with any specific provision of this Lease on three (3) 3 separate occasions during any 12-month 12 month period, Tenant’s subsequent violation of such provision shall, at Landlord’s option, be an incurable Default by Tenant. All notices sent under this Section shall be in satisfaction of, and not in addition to, notice required by Law. View More
Events of Default. Each In addition to any other default specifically described in this Lease, each of the following occurrences shall be a “Default”: (a) Tenant’s failure to pay any portion of Rent when due, if the failure continues for five (5) days 3 Business Days after written notice to Tenant (“Monetary Default”); (b) Tenant’s failure (other than a Monetary Default) to comply with any term, provision, condition or covenant of this Lease, if the failure is not cured within thirty (30) 10 days after written not...ice to Tenant provided, however, if Tenant’s failure to comply cannot reasonably be cured within thirty (30) 10 days, Tenant shall be allowed additional time (not to exceed 60 90 days) as is reasonably necessary to cure the failure so long as Tenant begins the cure within ten (10) 10 days after such notice to Tenant and diligently pursues the cure to completion; (c) Tenant permits a Transfer without Landlord’s required approval or otherwise in violation of Section 11 of this Lease; (d) Tenant or any guarantor of this Lease Guarantor becomes insolvent, makes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business; (d) (e) the leasehold estate is taken by process or operation of Law; (f) in the case of any ground floor or (e) retail Tenant, Tenant does not take possession of or abandons or vacates all or any portion of the Premises for a period of 30 days or longer; or (g) Tenant is in default beyond any notice and cure period under any other lease or agreement with Landlord at the Building or Property. If Landlord provides Tenant with notice of Tenant’s failure to comply with any specific provision of this Lease on three (3) 3 separate occasions during any 12-month 12 month period, Tenant’s subsequent violation of such provision shall, at Landlord’s option, be an incurable Default by Tenant. All notices sent under this Section shall be in satisfaction of, and not in addition to, notice required by Law. View More
Events of Default. Each In addition to any other default as specifically described in Section 11.01 or Section 12 of this Lease, each of the following occurrences shall be a “Default”: (a) Tenant’s failure to pay any portion of Rent when due, if the failure continues for five (5) days 3 Business Days after written notice to Tenant (“Monetary Default”); (b) Tenant’s failure (other than a Monetary Default) to comply with any term, provision, condition or covenant of this Lease, if the failure is not cured within thi...rty (30) 15 days after written notice to Tenant provided, however, if Tenant’s failure to comply cannot reasonably be cured within thirty (30) 15 days, Tenant shall be allowed additional time (not to exceed 60 90 days) as is reasonably necessary to cure the failure so long as Tenant begins the cure within ten (10) 15 days after such notice to Tenant and diligently pursues the cure to completion; (c) Tenant permits a Transfer without Landlord’s required approval or otherwise in violation of Section 11 of this Lease; (d) Tenant or any guarantor of this Lease Guarantor becomes insolvent, makes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business; (d) (e) the leasehold estate is taken by process or operation of Law; (f) in the case of any ground floor or (e) retail Tenant, Tenant does not take possession of or abandons or vacates all or any portion of the Premises; or (g) Tenant is in default beyond any notice and cure period under any other lease or agreement with Landlord at the Building or Property. If Landlord provides Tenant with notice of Tenant’s failure to comply with any specific non-Monetary term or provision of this Lease on three (3) 3 separate occasions during any 12-month 12 month period, Tenant’s subsequent violation of such non-Monetary term or provision shall, at Landlord’s option, be an incurable Default by Tenant. All notices sent under this Section shall be in satisfaction of, and not in addition to, notice required by Law. View More
Events of Default. Each of the following occurrences shall be a “Default”: (a) Tenant’s failure to pay any portion of Rent when due, if the failure continues for five (5) days after written notice to Tenant (“Monetary (a “Monetary Default”); (b) except for a Monetary Default and (c) - (h) below (for which there shall be no cure period) Tenant’s failure (other than a Monetary Default) to comply with any term, provision, condition or covenant of this Lease, if the failure is not cured within thirty (30) days after w...ritten notice to Tenant provided, however, if Tenant’s failure to comply cannot reasonably be cured within thirty (30) days, Tenant shall be allowed additional time (not to exceed 60 days) as is reasonably necessary to cure the failure so long as Tenant begins the cure within ten (10) days after such notice to Tenant and diligently pursues the cure to completion; Tenant; (c) Tenant or any guarantor of this the Lease becomes insolvent, makes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business; (d) the leasehold estate is taken by process or operation of Law; or (e) Tenant abandons the Premises and fails to pay Rent when due; (f) Tenant is in default beyond any notice and cure period under any other lease or agreement with Landlord at the Building or Property. Property; (g) Tenant fails to carry any of Tenant’s Insurance and/or Tenant fails to deliver a certificate evidencing Tenant’s Insurance within five (5) Business Days of Landlord’s request therefor or (h) Tenant is in default under Sections 11.1 or 12 above beyond any applicable notice and cure periods. If Landlord provides Tenant with notice of there are two (2) Defaults during the Term due to Tenant’s failure to comply with any specific provision of this Lease on three (3) two (2) separate occasions during in any 12-month period, Tenant’s subsequent violation of such provision shall, at Landlord’s option, be an incurable Default by Tenant. Tenant, which shall not require notice and which shall not require a cure period. All notices sent under this Section shall be in satisfaction of, and not in addition to, notice required by Law. Notwithstanding anything contained in this Lease to the contrary, Landlord shall not be in default in the performance of any of Landlord’s obligations under this Lease unless and until Landlord shall have failed to perform such obligations within thirty (30) days after receipt of written notice from Tenant to Landlord specifying wherein Landlord has failed to perform any such obligation, provided that if such cure may not be reasonably be completed within such 30-day period, Landlord shall have such additional time as may be reasonably required to cure such default so long as Landlord diligently continues to pursue such cure. View More
