Common use of Cure by Mortgagee Clause in Contracts

Cure by Mortgagee. Landlord shall give to any mortgagee who has notified Landlord of its Leasehold Mortgage, simultaneously with service on Tenant, a duplicate of any and all notices or demands given by Landlord to Tenant and no such notice to Tenant shall be effective unless a copy is so served upon said mortgagee. Such mortgagee shall have the right, but not the obligation, to cure any default by Tenant hereunder, by completing such cure at any time within sixty (60) days following the expiration of the cure period otherwise applicable to Tenant, or, if said default is of a nature that it may not reasonably be cured within the applicable cure period, then if mortgagee commences to cure during the applicable cure period and proceeds with such cure diligently and with reasonable dispatch, and Landlord shall accept performance by or at the instance of such mortgagee as if the same had been made by Tenant.

Cure by Mortgagee. Landlord shall give to any mortgagee who has notified Landlord of its Leasehold Mortgage, simultaneously with service on Tenant, a duplicate of any and all notices or demands given by Landlord to Tenant and no such notice to Tenant shall be effective unless a copy is so served upon said mortgagee. Such mortgagee shall have the right, but not the obligation, to cure any default by Tenant hereunder, by completing such cure at any time within sixty (60) days following the expiration of the cure period otherwise applicable to Tenant, or, if said default is of a nature that it may not reasonably be cured within the applicable cure period, then if mortgagee commences to cure during the applicable cure period and proceeds with such cure diligently and with reasonable dispatch, and Landlord shall accept performance by or at the instance of such mortgagee as if the same had been made by TenantXxxxxx.