Warning of Default on Commercial Lease - Wisconsin 2025

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A potential event of default is a condition or circumstance that, with the passage of time or the giving of notice, would become an event of default. This gives the lender time to address the issue in good faith before it fully escalates.
Legal and Financial Consequences For Tenants Accumulating late fees can lead to financial strain, potential eviction, and legal action for unpaid rent. For Landlords Persistent defaults may result in lost revenue, legal costs, and challenges in re-leasing the property.
Typical events of default include non-payment or late payment of amounts due, breach of certain material representations and warranties or covenants, cross-default, breach of change of control provisions, and insolvency.
Typical events of default include non-payment of interest or principal, breach of representation, breach of covenant, cross-default, material adverse change and insolvency.
A rental agreement will be void and unenforceable if it allows the landlord to terminate the tenancy of a tenant for a crime committed in relation to the rental property if it does not also include the new domestic abuse protection language set forth in sec. 704. 14, Wis.

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An event of default is an event that is set out in a commercial contract, which gives the non-defaulting party the right to terminate the agreement. It is commonly used in finance transactions such as loan agreements or debt instruments.
A default is a failure to comply with a provision in the lease. Curing or remedying the default means correcting the failure or omission. A common example is a failure to pay the rent on time.

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