Common use of Certain Defaults Clause in Contracts

Certain Defaults. In the event a default by the Tenant occurs in the performance or observance of any non-monetary term, covenant, condition or agreement on the Tenant’s part to be performed under this Lease which cannot practicably be cured by the Permitted Leasehold Mortgagee without taking possession of the Premises, or if such non-monetary default is of such a nature that the same is not susceptible of being cured by the Permitted Leasehold Mortgagee because it is personal to Tenant, then Landlord shall not serve a notice of election to terminate this Lease or Tenant’s right of possession pursuant to the terms hereof, or otherwise terminate the leasehold estate or any other estate, right, title or interest of the Tenant hereunder by reason of such default without allowing the Permitted Leasehold Mortgagee reasonable time (not to exceed one hundred eighty (180) calendar days from the date on which notice is received by the Permitted Leasehold Mortgagee) within which: a) In the case of a default which cannot practically be cured by the Permitted Leasehold Mortgagee without taking possession of the Premises, to obtain possession of the Premises as mortgagee (through the appointment of a receiver or otherwise), and, upon obtaining possession, to commence promptly and diligently prosecute to completion such action as may be necessary to cure such default; and b) In the case of a default which cannot be cured by the Permitted Leasehold Mortgagee because it is personal to Tenant, to commence promptly and diligently prosecute to completion foreclosure proceedings or to acquire the Tenant’s estate hereunder, either in its own name or through a nominee, by assignment in lieu of foreclosure.

Certain Defaults. In the event a default by the Tenant User occurs in the performance or observance of any non-monetary term, covenant, condition or agreement on the TenantUser’s part to be performed under this Lease MSA which cannot practicably be cured by the Permitted Leasehold User’s Mortgagee without taking possession of the PremisesSites, or if such non-monetary default is of such a nature that the same is not susceptible of being cured by the Permitted Leasehold User’s Mortgagee because it is personal to TenantUser, then Landlord GoldenState shall not serve a notice of election to terminate or otherwise exercise remedies under or in respect of this Lease or Tenant’s right of possession pursuant to the terms hereofMSA, or otherwise terminate the leasehold estate or any other estate, right, title or interest of the Tenant User hereunder by reason of such default without allowing the Permitted Leasehold User’s Mortgagee reasonable time (not to exceed one hundred eighty (180) calendar days from the date on which notice is received by the Permitted Leasehold Mortgagee) within which: a(i) In the case of a default which cannot practically be cured by the Permitted Leasehold User’s Mortgagee without taking possession of the PremisesSite(s), to obtain possession of the Premises Site(s) as mortgagee (through the appointment of a receiver or otherwise), and, upon obtaining possession, to commence promptly and diligently prosecute to completion such action as may be necessary to cure such default; and b(ii) In the case of a default which cannot be cured by the Permitted Leasehold User’s Mortgagee because it is personal to TenantUser, to commence promptly and diligently prosecute to completion foreclosure proceedings or to acquire the TenantUser’s estate hereunder, either in its own name or through a nominee, by assignment in lieu of foreclosureforeclosure or otherwise. The User’s Mortgagee shall not be required to continue to proceed to obtain possession, or to continue in possession as mortgagee, of the Sites pursuant to clause (i) above, or to continue to prosecute foreclosure proceedings pursuant to clause (ii) above, if and when such default shall be cured. If the User’s Mortgagee, or its nominee, or a purchaser at a foreclosure sale, shall acquire title to the User’s leasehold estate hereunder, and shall cure all defaults of User hereunder (except with respect to such defaults that cannot be cured because they are personal to User) which are reasonably susceptible of being cured, then the defaults of any prior holder of User’s leasehold estate or any other estate, right, title or interest hereunder which are not susceptible of being cured by the User’s Mortgagee (or by such nominee or purchaser) because they are personal to User shall no longer be deemed to be defaults hereunder.

Certain Defaults. In the event a default by the Tenant occurs in the performance or observance of any non-monetary term, covenant, condition or agreement on the Tenant’s 's part to be performed under this Lease which cannot practicably be cured by the Permitted Leasehold Tenant's Mortgagee without taking possession of the Premises, or if such non-monetary default is of such a nature that the same is not susceptible of being cured by the Permitted Leasehold Tenant's Mortgagee because it is personal "personal" to Tenant, then Landlord shall not serve a notice of election to terminate or otherwise exercise remedies under or in respect of this Lease or Tenant’s right of possession pursuant to the terms hereofthereof, or otherwise terminate the leasehold estate or any other estate, right, title or interest of the Tenant hereunder by reason of such default without allowing the Permitted Leasehold Tenant's Mortgagee reasonable time (not to exceed one hundred eighty ninety (18090) calendar days from the date on which notice is received by the Permitted Leasehold Tenant's Mortgagee) within which: a(i) In the case of a default which cannot practically be cured by the Permitted Leasehold Tenant's Mortgagee without taking possession of the Premises, to obtain possession of the Premises as mortgagee (through the appointment of a receiver or otherwise), and, upon obtaining possession, to commence promptly and diligently prosecute to completion such action as may be necessary to cure such default; and b(ii) In the case of a default which cannot be cured by the Permitted Leasehold Tenant's Mortgagee because it is personal to Tenant, to commence promptly and diligently prosecute to completion foreclosure proceedings or to acquire the Tenant’s 's estate hereunder, either in its own name or through a nominee, by assignment in lieu of foreclosure. The Tenant's Mortgagee shall not be required to continue to proceed to obtain possession, or to continue in possession as mortgagee, of the Premises pursuant to clause (i) above, or to continue to prosecute foreclosure proceedings pursuant to clause (ii) above, if and when such default shall be cured. If the Tenant's Mortgagee, or its nominee, or a purchaser at a foreclosure sale, shall acquire title to the Tenant's leasehold estate hereunder, and shall cure all defaults of the Tenant hereunder (except with respect to such defaults that cannot be cured by Tenant's Mortgagee because they are personal to Tenant) which are reasonably susceptible of being cured by the Tenant's Mortgagee, or by such nominee or purchaser, as the case may be, then the defaults of any prior holder of the Tenant's leasehold estate or any other estate, right, title or interest hereunder which are not susceptible of being cured by the Tenant's Mortgagee because they are personal to Tenant (or by such nominee or purchaser) shall no longer be deemed to be defaults hereunder.