Advances by Landlord Clause Samples
The "Advances by Landlord" clause defines the landlord's right to pay amounts on behalf of the tenant if the tenant fails to fulfill certain financial obligations under the lease, such as paying utilities, taxes, or maintenance costs. Typically, this clause allows the landlord to advance funds to cover these expenses and then require the tenant to reimburse the landlord, often with interest or additional fees. Its core practical function is to ensure that essential payments related to the property are made on time, protecting the landlord's interests and maintaining the property's compliance with legal and contractual requirements.
Advances by Landlord. If Tenant shall fail to make or perform any payment or act required by this Lease within any applicable cure period, then Landlord may at its option make such payment or perform such act for the account of Tenant, and Landlord shall not thereby be deemed to have waived any default or released Tenant from any obligation hereunder. Landlord shall give Tenant five (5) business days’ notice (except in the case of an emergency) prior to Landlord making such payment or protective advance. All amounts so paid by Landlord and all incidental out-of-pocket costs and expenses (including reasonable attorneys’ fees and expenses) actually incurred in connection with such payment or performance, together with interest at the Default Interest rate (or at the highest rate not prohibited by applicable law, whichever is less) from and including the date of the making of such payment or of the incurring of such costs and expenses to and including the date of repayment, shall be paid by Tenant to Landlord on demand.
Advances by Landlord. In the event that Tenant shall fail to timely pay any amount due Landlord under this Lease other than the Base Rent within ten (10) days after written notice to Tenant, Landlord, at its option, may advance such payment on behalf of Tenant (each an “Advance”). Tenant shall pay Landlord the amount of any Advance, together with interest thereon at the Default Rate from the date of such advance by Landlord until repayment thereof by Tenant. Tenant shall make such repayment not later than the first day of the calendar month following the date of such Advance.
Advances by Landlord. In any instance in which Landlord has elected to advance monies that are otherwise the responsibility of Tenant, said advances shall bear interest at the Default Rate commencing on the date of said advance by Landlord (subject, however, to any notice or grace period that may otherwise be specifically set forth in this Lease). Any and all such advances and interest thereon shall be considered Rent hereunder.
Advances by Landlord. If an event of default has occurred and is continuing, and at any time if Tenant fails to maintain insurance in accordance with Article 14 hereof, if Tenant shall fail to make or perform any payment or act required by this Lease within any applicable cure period, then Landlord may at its option make such payment or perform such act for the account of Tenant, and Landlord shall not thereby be deemed to have waived any default or released Tenant from any obligation hereunder. All amounts so paid by Landlord and all incidental costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with such payment or performance, together with interest at the annual rate equal to the greater of (i) thirteen percent (13%) and (ii) three percent (3%) above the prime rate as announced from time to time in New York City by Citibank, N.A. (or at the highest rate not prohibited by applicable law, whichever is less) (the “Overdue Interest Rate”) from and including the date of the making of such payment or of the incurring of such costs and expenses to and including the date of repayment, shall be paid by Tenant to Landlord on demand.
Advances by Landlord. If an Event of Default has occurred and is continuing, and at any time if Tenant fails to maintain insurance in accordance with Article 14 hereof, if Tenant shall fail to make or perform any payment or act required by this Lease within any applicable cure period, then Landlord may at its option make such payment or perform such act for the account of Tenant, and Landlord shall not thereby be deemed to have waived any default or released Tenant from any obligation hereunder. All amounts so paid by Landlord and all incidental costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with such payment or performance, together with interest at the Applicable Rate from and including the date of the making of such payment or of the incurring of such costs and expenses to and including the date of repayment, shall be paid by Tenant to Landlord on demand.
Advances by Landlord. In the event of Tenant's breach of any covenant of this Agreement, in addition to or in lieu of the remedies set forth in paragraph 22 of this Agreement, Landlord may, after 30 days following notice of such breach, and provided Tenant has not initiated and in the process of affecting a reasonable cure to said breach as reasonably agreed by the landlord, cure such breach at the expense of Tenant. If Landlord incurs any expense to cure any such breach, that expense, together with all interest, costs, attorneys’ fees, and damages, shall be deemed to be additional rent under this Agreement and shall be due from Tenant to Landlord on the first day of the month following the incurrence of such expenses.
Advances by Landlord. Any amounts paid by Landlord for Tenant's account as herein provided and any amounts paid by Landlord to keep the Premises in a clean, safe and healthy condition, as herein specified, or to make up any default on Tenant's part, or to fulfill Tenant's covenants herein written, are hereby agreed and declared to be so much additional rent and shall be due and payable with the next installment of rent thereafter due under this Lease.
Advances by Landlord. If Tenant shall fail to make or perform any payment or act required by this Lease within any applicable cure period, then Landlord may at its option make such payment or perform such act for the account of Tenant, and Landlord shall not thereby be deemed to have waived any default or released Tenant from any obligation hereunder. Landlord shall give Tenant five (5) days notice (except in the case of an emergency) prior to Landlord making such payment or protective advance. All amounts so paid by Landlord and all incidental costs and expenses (including reasonable attorneys' fees and expenses) actually incurred in connection with such payment or performance, together with interest at the annual rate equal to the greater of (i)
Advances by Landlord. In the event of Tenant's breach of any covenant of this Agreement, in addition to or in lieu of the remedies set forth in paragraph 23 of this Agreement, Landlord may, after 30 days following delivery of written notice of such breach, and provided Tenant has not initiated and in the process of a reasonable cure to said breach, cure such breach at the expense of Tenant. If Landlord incurs any expense to cure any such breach, that expense, together with all interest, costs, attorneys’ fees, and damages, shall be deemed to be additional rent under this Agreement and shall be due from Tenant to Landlord on the first day of the month following the incurrence of such expenses. Alternatively, Landlord may pay for such expenses by applying Tenant’s security deposit, which Tenant shall restore within 30 days if Landlord and Tenant agree to continue the terms of the lease.
Advances by Landlord. Landlord has the right, but shall not be obligated, to pay or otherwise advance on behalf of Tenant any amounts payable by Tenant pursuant to this Lease. Any payment or advance by Landlord pursuant to this Section 3.3 shall be reimbursed by Tenant, immediately upon Landlord's demand, and shall be in addition to, and not in limitation of, any other rights or remedies available to Landlord under this Lease, at law or in equity.