Chronic Delinquency. For the purpose of this Lease, “Chronic Delinquency” by Tenant shall mean failure by Tenant to pay Monthly Base Rent, Escalations, or any other payment required to be paid by Tenant under this Lease, within five (5) days after the date such payment is due hereunder (including if such delinquency results from a check presented by Tenant being returned by the drawee bank or an EFT transaction being refused by Tenant’s bank for any reason) on two (2) or more separate occasions during any consecutive twelve (12) month period. In the event of a Chronic Delinquency, Landlord shall have the right, in addition to all other remedies under this Lease and law, to require that subsequent installments of Rent be paid by Tenant quarterly in advance, by certified check, and that Tenant shall, within five (5) days after request, increase the Security Deposit by an amount equal to twice the then applicable Monthly Base Rent. This provision shall not limit in any way nor be construed as a waiver of the rights and remedies of Landlord provided herein or by law in the event of even one instance of delinquency.
Appears in 5 contracts
Samples: Office Lease (Eidos Therapeutics, Inc.), Office Lease (Eidos Therapeutics, Inc.), Office Lease (Audentes Therapeutics, Inc.)
