This office lease clause is an onerous approach to a default remedies clause. This clause is similar to those found in many New York City landlord office lease forms.
Alaska Onerous Approach to Default Remedy Clause
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US-OL14032
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How to fill out Onerous Approach To Default Remedy Clause?
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FAQ
If you don't file a response to divorce papers, your spouse can request a default. This means asking the court to decide the case without your input. In a default divorce, the court makes the final decisions based on the information from your spouse, and what the law says, without hearing your side.
A party who fails to appear or who appears but fails to answer or otherwise defend may be defaulted by the clerk not less than seven days following service of the application for default.
This provision specifies the remedies for an Event of Default and also outlines the order in which available funds will be disbursed to the lenders. all outstanding borrowings become immediately due and payable. all outstanding borrowings become immediately due and payable.
ENTRY OF DEFAULT The Plaintiff properly served the Defendant, and the Defendant did not file an Answer to the Complaint, file a written response to the Complaint, or otherwise defend this action. IT IS ORDERED that default is entered against the Defendant.
A default judgment means: The Plaintiff gets what was asked for in the Complaint and the court will not hear the Defendant's side of the story.
A default is a failure to perform a duty in legal proceedings. A default judgment is binding, and the defaulting defendant may not litigate his case or present any evidence. A civil action default judgment will grant the amount of relief sought in a plaintiff's complaint.