Common use of Additional Lender Protection Provisions Clause in Contracts

Additional Lender Protection Provisions. The terms and conditions set forth below in this Paragraph 7 shall be binding upon the Landlord as if fully set forth in the Lease, and to the extent of any inconsistency between the terms and provisions contained in the Lease and the terms and conditions set forth below in this Paragraph 7, the terms and conditions set forth below in this Paragraph 7 shall govern and control: (a) Notices to Lender; Lender's Right to Cure. (i) Landlord shall send to Lender, by certified or registered mail, a true, correct and complete copy of any notice to Tenant of a default by Tenant under the Lease at the same time as and whenever any such notice of default shall be given by Landlord to Tenant, addressed to Lender at the address specified in Paragraph 9 hereof or, if different, the address, if any, last furnished to Landlord by such Lender as provided in Paragraph 9 hereof no notice by Landlord shall be deemed to have been given unless and until a copy thereof shall have been so given to and received by Lender. Tenant irrevocably directs that Landlord accept, and Landlord agrees to accept, performance and compliance by Lender of and with any term, covenant, agreement, provision, condition or limitation on Tenant's part to be kept, observed or performed under the Lease with the same force and effect as though kept, observed or performed by Tenant. (ii) Notwithstanding anything provided to the contrary in the Lease, the Lease shall not be terminated because of a default or breach thereunder on the part of Tenant until and unless: (A) Notice of any such default or breach shall have been delivered to the Lender in accordance with the provisions of Paragraph 7(a)(i) above; (B) With respect to a default or breach that is curable solely by the payment of money, Lender has not cured such default or breach within sixty (60) days following the expiration of any of Tenant's notice and cure period set forth in the Lease; and (C) With respect to a default or breach that is not curable solely by the payment of money, Lender has not cured such default or breach within ninety (90) days following the expiration of any of Tenant's notice and cure periods set forth in the Lease or, if such default or breach is curable but cannot be cured within such time period, (aa) Lender has not notified Landlord within such time period that it intends to cure such default or breach, (bb) Lender has not diligently commenced to cure such default or breach, or (cc) Lender does not prosecute such cure to completion. Furthermore, notwithstanding anything to the contrary contained herein, if the Leasehold Mortgagee determines to foreclose or cause its designee to foreclose the Leasehold Mortgages or to acquire or cause its designee to acquire the Leasehold Estate or to succeed or cause its designee to succeed to Tenant's possessory rights with respect to the Premises or to appoint a receiver before it effectuates the cure of any breach or default by Tenant hereunder, the cure periods set forth above shall be extended by any period during which foreclosure proceedings, or legal proceedings to succeed to Tenant's possessory rights, or proceedings to appoint the receiver are conducted, as the case may be. Any such proceedings shall be commenced promptly after the notice of default is delivered to the Leasehold Mortgagee and shall be diligently prosecuted. Promptly after the Leasehold Mortgagee or a designee of the Leasehold Mortgagee acquires the Leasehold Estate pursuant to foreclosure proceedings or otherwise or succeeds to Tenant's possessory rights or promptly after a receiver is appointed, as the case may be, the Leasehold Mortgagee or its designee shall cure said breach or default. (iii) Notwithstanding anything provided to the contrary in the Lease, the Lease shall not be terminated because of a default or breach thereunder on the part of Tenant which cannot be cured.

Additional Lender Protection Provisions. The terms and conditions set forth below in this Paragraph 7 shall be binding upon the Landlord as if fully set forth in the Lease, and to the extent of any inconsistency between the terms and provisions contained in the Lease and the terms and conditions set forth below in this Paragraph 7, the terms and conditions set forth below in this Paragraph 7 shall govern and control: (a) Notices to Lender; LenderXxxxxx's Right to Cure. (i) Landlord shall send to Lender, by certified or registered mail, a true, correct and complete copy of any notice to Tenant of a default by Tenant under the Lease at the same time as and whenever any such notice of default shall be given by Landlord to Tenant, addressed to Lender at the address specified in Paragraph 9 hereof or, if different, the address, if any, last furnished to Landlord by such Lender as provided in Paragraph 9 hereof no notice by Landlord shall be deemed to have been given unless and until a copy thereof shall have been so given to and received by LenderXxxxxx. Tenant irrevocably directs that Landlord accept, and Landlord Xxxxxxxx agrees to accept, performance and compliance by Lender Xxxxxx of and with any term, covenant, agreement, provision, condition or limitation on Tenant's part to be kept, observed or performed under the Lease with the same force and effect as though kept, observed or performed by TenantXxxxxx. (ii) Notwithstanding anything provided to the contrary in the Lease, the Lease shall not be terminated because of a default or breach thereunder on the part of Tenant until and unless: (A) Notice of any such default or breach shall have been delivered to the Lender in accordance with the provisions of Paragraph 7(a)(i) above; (B) With respect to a default or breach that is curable solely by the payment of money, Lender Xxxxxx has not cured such default or breach within sixty (60) days following the expiration of any of Tenant's notice and cure period set forth in the Lease; and (C) With respect to a default or breach that is not curable solely by the payment of money, Lender has not cured such default or breach within ninety (90) days following the expiration of any of Tenant's notice and cure periods set forth in the Lease or, if such default or breach is curable but cannot be cured within such time period, (aa) Lender has not notified Landlord within such time period that it intends to cure such default or breach, (bb) Lender has not diligently commenced to cure such default or breach, or (cc) Lender does not prosecute such cure to completion. Furthermore, notwithstanding anything to the contrary contained herein, if the Leasehold Mortgagee determines to foreclose or cause its designee to foreclose the Leasehold Mortgages or to acquire or cause its designee to acquire the Leasehold Estate or to succeed or cause its designee to succeed to Tenant's possessory rights with respect to the Premises or to appoint a receiver before it effectuates the cure of any breach or default by Tenant hereunder, the cure periods set forth above shall be extended by any period during which foreclosure proceedings, or legal proceedings to succeed to TenantXxxxxx's possessory rights, or proceedings to appoint the receiver are conducted, as the case may be. Any such proceedings shall be commenced promptly after the notice of default is delivered to the Leasehold Mortgagee and shall be diligently prosecuted. Promptly after the Leasehold Mortgagee or a designee of the Leasehold Mortgagee acquires the Leasehold Estate pursuant to foreclosure proceedings or otherwise or succeeds to Tenant's possessory rights or promptly after a receiver is appointed, as the case may be, the Leasehold Mortgagee or its designee shall cure said breach or default. (iii) Notwithstanding anything provided to the contrary in the Lease, the Lease shall not be terminated because of a default or breach thereunder on the part of Tenant which cannot be cured.

Additional Lender Protection Provisions. The terms and conditions set forth below in this Paragraph 7 shall be binding upon the Landlord as if fully set forth in the Lease, and to the extent of any inconsistency between the terms and provisions contained in the Lease and the terms and conditions set forth below in this Paragraph 7, the terms and conditions set forth below in this Paragraph 7 shall govern and control: (a) Notices to Lender; Lender's Right to Cure. (i) Landlord shall send to Lender, by certified or registered mail, a true, correct and complete copy of any notice to Tenant of a default by Tenant under the Lease at the same time as and whenever any such notice of default shall be given by Landlord to Tenant, addressed to Lender at the address specified in Paragraph 9 hereof or, if different, the address, if any, last furnished to Landlord by such Lender as provided in Paragraph 9 hereof no notice by Landlord shall be deemed to have been given unless and until a copy thereof shall have been so given to and received by Lender. Tenant irrevocably directs that Landlord accept, and Landlord agrees to accept, performance and compliance by Lender of and with any term, covenant, agreement, provision, condition or limitation on Tenant's part to be kept, observed or performed under the Lease with the same force and effect as though kept, observed or performed by Tenant. (ii) Notwithstanding anything provided to the contrary in the Lease, the Lease shall not be terminated because of a default or breach thereunder on the part of Tenant until and unless: (A) Notice of any such default or breach shall have been delivered to the Lender in accordance with the provisions of Paragraph 7(a)(i) above; (B) With respect to a default or breach that is curable solely by the payment of money, Lender has not cured such default or breach within sixty (60) days following the expiration of any of Tenant's notice and cure period set forth in the Lease; and (C) With respect to a default or breach that is not curable solely by the payment of money, Lender has not cured such default or breach within ninety (90) days following the expiration of any of Tenant's notice and cure periods set forth in the Lease or, if such default or breach is curable but cannot be cured within such time period, (aa) Lender has not notified Landlord within such time period that it intends to cure such default or breach, (bb) Lender has not diligently commenced to cure such default or breach, or and (cc) Lender does not prosecute such cure to completion. Furthermore, notwithstanding anything to the contrary contained herein, if the Leasehold Mortgagee determines to foreclose or cause its designee to foreclose the Leasehold Mortgages or to acquire or cause its designee to acquire the Leasehold Estate or to succeed or cause its designee to succeed to Tenant's possessory rights with respect to the Premises or to appoint a receiver before it effectuates the cure of any breach or default by Tenant hereunder, the cure periods set forth above shall be extended by any period during which foreclosure proceedings, or legal proceedings to succeed to Tenant's possessory rights, or proceedings to appoint the receiver are conducted, as the case may be. Any such proceedings shall be commenced promptly after the notice of default is delivered to the Leasehold Mortgagee and shall be diligently prosecuted. Promptly after the Leasehold Mortgagee or a designee of the Leasehold Mortgagee acquires the Leasehold Estate pursuant to foreclosure proceedings or otherwise or succeeds to Tenant's possessory rights or promptly after a receiver is appointed, as the case may be, the Leasehold Mortgagee or its designee shall cure said breach or default. (iii) Notwithstanding anything provided to the contrary in the Lease, the Lease shall not be terminated because of a default or breach thereunder on the part of Tenant which cannot be cured.

Additional Lender Protection Provisions. The terms and conditions set forth below in this Paragraph 7 shall be binding upon the Landlord as if fully set forth in the Lease, and to the extent of any inconsistency between the terms and provisions contained in the Lease and the terms and conditions set forth below in this Paragraph 7, the terms and conditions set forth below in this Paragraph 7 shall govern and control: (a) Notices to Lender; Lender's Right to Cure. (i) Landlord shall send to Lender, by certified or registered mail, a true, correct and complete copy of any notice to Tenant of a default by Tenant under the Lease at the same time as and whenever any such notice of default shall be given by Landlord to Tenant, addressed to Lender at the address specified in Paragraph 9 hereof or, if different, the address, if any, last furnished to Landlord by such Lender as provided in Paragraph 9 hereof no notice by Landlord shall be deemed to have been given unless and until a copy thereof shall have been so given to and received by Lender. Tenant irrevocably directs that Landlord accept, and Landlord agrees to accept, performance and compliance by Lender of and with any term, covenant, agreement, provision, condition or limitation on Tenant's part to be kept, observed or performed under the Lease with the same force and effect as though kept, observed or performed by Tenant. (ii) Notwithstanding anything provided to the contrary in the Lease, the Lease shall not be terminated because of a default or breach thereunder on the part of Tenant until and unless: (A) Notice of any such default or breach shall have been delivered to the Lender in accordance with the provisions of Paragraph 7(a)(i) above; (B) With respect to a default or breach that is curable solely by the payment of money, Lender has not cured such default or breach within sixty (60) days following the expiration of any of Tenant's notice and cure period set forth in the Lease; and (C) With respect to a default or breach that is not curable solely by the payment of money, Lender has not cured such default or breach within ninety (90) days following the expiration of any of Tenant's notice and cure periods set forth in the Lease or, if such default or breach is curable but cannot be cured within such time period, (aa) Lender has not notified Landlord within such time period that it intends to cure such default or breach, (bb) Lender has not diligently commenced to cure such default or breach, or and (cc) Lender does not prosecute such cure to completion. Furthermore, notwithstanding anything to the contrary contained herein, if the Leasehold Mortgagee determines to foreclose or cause its designee to foreclose the Leasehold Mortgages or to acquire or cause its designee to acquire the Leasehold Estate or to succeed or cause its designee to succeed to Tenant's possessory rights with respect to the Premises or to appoint a receiver before it effectuates the cure of any breach or default by Tenant hereunder, the cure periods set forth above shall be extended by any period during which foreclosure proceedings, or legal proceedings to succeed to Tenant's possessory rights, or proceedings to appoint the receiver are conducted, as the case may be. Any such proceedings shall be commenced promptly after the notice of default is delivered to the Leasehold Mortgagee and shall be diligently prosecuted. Promptly after the Leasehold Mortgagee or a designee of the Leasehold Mortgagee acquires the Leasehold Estate pursuant to foreclosure proceedings or otherwise or succeeds to Tenant's possessory rights or promptly after a receiver is appointed, as the case may be, the Leasehold Mortgagee or its designee shall cure said breach or default. (iii) Notwithstanding anything provided to the contrary in the Lease, the Lease shall not be terminated because of a default or breach thereunder on the part of Tenant which cannot be cured.