Curing Defaults. Section 25.1 If a party shall default in the performance of any of its obligations under
Section 25.2 Bills for any reasonable expenses actually incurred by the non-defaulting party or the Board of Managers in connection with any such performance by it for the account of the defaulting party, as well as bills for any property, material, labor or services provided, furnished or rendered, by the non-defaulting party or the Board of Managers or at its instance to the defaulting party shall be rendered monthly, or immediately, at the non-defaulting party’s or the Board of Manager’s option, and shall be due and payable within thirty (30) days after rendition. The defaulting party may dispute any such bill provided it pays the amount thereof, without prejudice, when due, and such dispute shall be determined by arbitration pursuant to Article 28. Bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in enforcing or endeavoring to enforce any rights against the defaulting party, or to resist or defend any claim, action or proceeding brought by the defaulting party, under or in connection with this Lease, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings, may be sent upon final determination or settlement of the action, proceeding or claim involved in the non- defaulting party’s or the Board of Managers’ favor and shall be due and payable within thirty (30) days after rendition. Any bills referred to in the first sentence of this Section that are not paid within thirty (30) days of rendition and all bills referred to in the third sentence of this Section shall be paid with interest at the agreed rate from the date of expense, cost or disbursement involved was due and payable (or paid, if later), to the date paid. If any action, proceeding or claim referred to in the second sentence of this Section 25.2 shall be finally determined or settled in Tenant’s favor, Tenant shall be entitled to offset the amount of its judgment against any amounts otherwise due under this Lease. The parties’ obligations under this Article 25 shall survive the termination of this Lease.
Curing Defaults. Should Tenant fail to repair, maintain, and/or service the Leased Premises, or any part or contents thereof at any time or times, or perform any other obligations imposed by this Lease or otherwise, then after having given Tenant reasonable notice of the failure or failures and a reasonable opportunity which in no case shall exceed thirty (30) days, to remedy the failure, Landlord may perform or contract for the performance of the repair, maintenance, or other Tenant obligation, and Tenant shall pay Landlord for all direct and indirect costs incurred in connection therewith within ten (10) days of receiving a xxxx therefor from Landlord.
Curing Defaults. 16.1 If the Contractor is in default of any of its obligations under this Agreement, then the City may without terminating this Agreement, upon 5 days written notice to the Contractor, remedy the default and set-off all costs and expenses of such remedy against any amounts owing to the Contractor. Nothing in this Agreement will be interpreted or construed to mean that the City has any duty or obligation to remedy any default of the Contractor.
Curing Defaults. If Tenant fails to repair, maintain, keep clean, or service any of the Premises or fails to perform any other Lease obligation, then after having given Tenant reasonable Notice of any failure and a reasonable opportunity to remedy the failure, which in no case shall exceed ten days, Landlord may enter upon the Premises and perform or contract for the performance of the repair, maintenance, or other Tenant obligation, and Tenant shall pay Landlord as Additional Rent all direct and indirect costs incurred in connection therewith.
Curing Defaults. Any default by Manager under clause (a) of Section 8.01 or Lessee under clause (b) of Section 8.02, as the case may be, which is susceptible of being cured, shall not constitute a basis of termination if the nature of such default shall not permit it to be cured within the grace period allotted, provided that within such grace period either Manager or Lessee shall have commenced to cure such default and shall proceed to complete the same with reasonable diligence.
Curing Defaults. If Tenant is in default under any obligation of this lease, then Landlord may take action to correct that default and charge Tenant the cost of doing so. Tenant must immediately pay that cost, along with any additional expenses of Landlord, within 15 days after notice of the amount due.
Curing Defaults. (a) If Sublessee shall be in default in the performance of any of its obligations hereunder beyond any applicable notice and cure period, Sublessor, without any obligation to do so, in addition to any other rights it may have in law or equity, may elect (but shall not be obligated) to cure such default after the applicable cure period at any time after delivery of five (5) business days’ notice to Sublessee. Sublessee shall reimburse Sublessor, upon demand for one hundred percent (100%) of all costs and expenses paid or incurred by Sublessor in curing such default, and interest thereon from the respective dates of Sublessor’s making the payments and incurring such costs, at the lesser of (i) the prime rate announced by Bank of America NT&SA from time to time (the “Prime Rate”) plus two percent (2%), or (ii) the maximum amount allowed by law, which sums and costs together with interest thereon shall be deemed Additional Rent payable promptly upon being billed therefor.
(b) If Sublessor shall be in default in the performance of any of its obligations under the Master Lease beyond any applicable notice and cure period, Sublessee, without any obligation to do so, in addition to any other rights it may have in law or equity, may elect (but shall not be obligated) to cure such default after the applicable cure period at any time after delivery of five (5) business days’ notice to Sublessor. Sublessor shall reimburse Sublessee, upon demand for one hundred percent (100%) of all costs and expenses paid or incurred by Sublessee in curing such default, and interest thereon from the respective dates of Sublessee’s making the payments and incurring such costs, at the lesser of (i) the Prime Rate plus two percent (2%), or (ii) the maximum amount allowed by law, which sums and costs together with interest thereon shall be payable promptly upon being billed therefor.
Curing Defaults. If Tenant is in default under any obligation of this Lease, then the Landlord may take action to correct that default and charge the Tenant the cost in doing so. Tenant must immediately pay the cost along with any additional expenses of the Landlord within 10 days after notification of the amount due.
Curing Defaults. Should Tenant fail to repair, maintain, and/or service the Leased Premises, or any part or contents thereof at any time or times, or perform any other obligations imposed by this Lease or otherwise, then after having given Tenant reasonable notice of the failure or failures and a reasonable opportunity which in no case shall exceed thirty (30) days, to remedy the failure (unless Tenant commenced such remedy within the thirty (30) day period and is diligently proceeding to cure), Landlord may perform or contract for the performance of the repair, maintenance, or other Tenant obligation, and Tenant shall pay Landlord for all out of pocket costs incurred in connection therewith within ten (10) business days of receiving a xxxx therefor from Landlord.
Curing Defaults. Borrower shall execute and deliver, on request of Lender, such instruments as Lender may deem useful or required to permit Lender to cure any default under the Ground Lease or permit Lender to take such other action as the Lender considers desirable to cure or remedy the matter in default and preserve the interest of Lender in the Mortgaged Property.
