Common use of County’s Default Clause in Contracts

County’s Default. County shall not be considered to be in default under this Lease unless Tenant has given County written notice specifying the default, and either (i) as to monetary defaults, County has failed to cure the same within ten (10) business days after written notice from Tenant, or (ii) as to nonmonetary defaults, County has failed to cure the same within thirty (30) days after written notice from Tenant, or if the nature of Tenant’s nonmonetary default is such that more than thirty (30) days are reasonably required for its cure, then such thirty (30) period shall be extended automatically so long as County commences a cure within such thirty (30) day period and thereafter diligently pursues such cure to completion. Tenant shall have no right to offset or xxxxx alleged amounts owing by County under this Lease against Monthly Rent owing by Tenant under this Lease. Additionally, Tenant’s sole remedy for any monetary default shall be towards the County’s interest in the property and not to any other assets. Any and all claims or actions accruing hereunder shall be absolutely barred unless such action is commenced within six (6) months of the event or action giving rise to the default.

Appears in 3 contracts

Samples: Ground Lease, Option Agreement, Ground Lease

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County’s Default. County shall not be considered to be in default under this Lease unless Tenant has given County written notice specifying the default, and either (i) as to monetary defaults, County has have failed to cure the same within ten (10) business days after written notice from Tenant, or (ii) as to nonmonetary defaults, County has have failed to cure the same within thirty (30) days after written notice from Tenant, or if the nature of TenantCounty’s nonmonetary default is such that more than thirty (30) days are reasonably required for its cure, then such thirty (30) day period shall be extended automatically so long as County commences a cure within such thirty (30) day period and thereafter diligently pursues such cure to completion. Tenant shall have no right to offset or xxxxx alleged amounts owing by County under this Lease against Monthly Rent any amounts owing by Tenant under this Lease. Additionally, TenantXxxxxx’s sole remedy for any monetary default shall be towards the County’s interest in the property and not to any other assets. Any and all claims or actions accruing hereunder shall be absolutely barred unless such action is commenced within six (6) months of the event or action giving rise to the default.

Appears in 3 contracts

Samples: Ground Lease, Ground Lease, Ground Lease

County’s Default. County shall not be considered to be in default under this Lease unless Tenant has given County written notice specifying the default, and either (i) as to monetary defaults, County has failed to cure the same within ten (10) business days after written notice from Tenant, or (ii) as to nonmonetary defaults, County has failed to cure the same within thirty (30) days after written notice from Tenant, or if the nature of Tenant’s nonmonetary default is such that more than thirty (30) days are reasonably required for its cure, then such thirty (30) period shall be extended automatically so long as County commences a cure within such thirty (30) day period and thereafter diligently pursues such cure to completion. Tenant shall have no right to offset or xxxxx alleged amounts owing by County under this Lease against Monthly Rent owing by Tenant under this Lease. Additionally, Tenant’s sole remedy for any monetary default shall be towards the County’s interest in the property and not to any other assets. Any and all claims or actions accruing hereunder shall be absolutely barred unless such action is commenced within six (6) months of the event or action giving rise to the default.

Appears in 1 contract

Samples: Ground Lease

County’s Default. County shall not be considered to be in default under this Lease unless Tenant has given County written notice specifying the default, and either (i) as to monetary defaults, County has failed to cure the same within ten (10) business days after written notice from Tenant, or (ii) as to nonmonetary defaults, County has failed to cure the same within thirty (30) days after written notice from Tenant, or if the nature of Tenant’s nonmonetary default is such that more than thirty (30) days are reasonably required for its cure, then such thirty (30) period shall be extended automatically so long as County commences a cure within such thirty (30) day period and thereafter diligently pursues such cure to completion. Tenant shall have no right to offset or xxxxx alleged amounts owing by County under this Lease against Monthly Rent owing by Tenant under this Lease. Additionally, TenantTexxxx’s sole remedy for any monetary default shall be towards the County’s interest in the property and not to any other assets. Any and all claims or actions accruing hereunder shall be absolutely barred unless such action is commenced within six (6) months of the event or action giving rise to the default.

Appears in 1 contract

Samples: Option Agreement

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County’s Default. County shall not be considered to be in default under this Lease unless Tenant has given County written notice specifying the default, and either (i) as to monetary defaults, County has have failed to cure the same within ten (10) business days after written notice from Tenant, or (ii) as to nonmonetary defaults, County has have failed to cure the same within thirty (30) days after written notice from Tenant, or if the nature of TenantCounty’s nonmonetary default is such that more than thirty (30) days are reasonably required for its cure, then such thirty (30) day period shall be extended automatically so long as County commences a cure within such thirty (30) day period and thereafter diligently pursues such cure to completion. Tenant shall have no right to offset or xxxxx alleged amounts owing by County under this Lease against Monthly Rent any amounts owing by Tenant under this Lease. Additionally, Tenant’s sole remedy for any monetary default shall be towards the County’s interest in the property and not to any other assets. Any and all claims or actions accruing hereunder shall be absolutely barred unless such action is commenced within six (6) months of the event or action giving rise to the default.

Appears in 1 contract

Samples: Ground Lease

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