Common use of DEFAULT AND DEFEASANCE Clause in Contracts

DEFAULT AND DEFEASANCE. This demise is upon the express condition that if Lessee shall fail to pay said rent or any part thereof within fifteen (15) days after written notice to Lessee, or shall fail to begin to remedy the violation or breach of any of its other covenants or agreements herein within sixty (60) days after written notice thereof given by Lessor to Lessee and/or fail to complete the same in diligent and workmanlike manner, or shall abandon said premises, or if this lease or any estate or interest of Lessee hereunder shall be sold under any attachment or execution, Lessor may at once re-enter said premises or any part thereof in the name of the whole and, upon or without such entry, at its option terminate this lease, without further service of notice or legal process and without prejudice to any other remedy or right of action for arrears of rent or for any preceding or other breach of contract. If this lease is recorded in the Hawaii Bureau of Conveyances or filed in the Office of the Assistant Registrar of the Land Court of Hawaii, such termination may but need not necessarily be made effective by recording or filing in such place an affidavit thereof by Lessor or a judgment thereof by a court of competent jurisdiction. If Lessee shall fail to observe or perform any of its covenants herein contained, Lessor at any time thereafter may, but shall not be obligated to, observe or perform such covenant for the account and at the expense of Lessee, and all costs and expenses incurred by Lessor in observing and performing such covenant shall constitute additional rent and shall bear interest as provided in paragraph 6 hereof.

DEFAULT AND DEFEASANCE. This demise is upon the express condition ---------------------- that if Lessee shall fail to pay said rent or any part thereof within fifteen thirty (1530) days after written notice the same becomes due, whether the same shall or shall not have been legally demanded, or shall fail to observe and perform faithfully any of its covenants or agreements herein contained performable by the payment of money (other than the payment of rent) and such default shall continue for sixty (60) days after a statement therefor given by the obligee to Lessee, or shall fail to begin to remedy the violation observe or breach of perform faithfully any of its other covenants or agreements herein within sixty contained and such default shall continue for thirty (6030) days after written notice thereof given by Lessor to Lessee and/or fail to complete the same in diligent and workmanlike mannerLessee, or shall abandon said premises, or if this lease Lease or any estate or interest of Lessee hereunder shall be sold under any attachment or execution, execution Lessor may at once re-enter said premises or any part thereof in the name of the whole and, upon or without such entry, at its option terminate this leaseLease, without further service of notice or legal process and without prejudice to any other remedy or right of action for arrears of rent or for any preceding or other breach of contract. If this lease Lease is recorded in the Hawaii Bureau of Conveyances of the State of Hawaii or filed in the Office of the Assistant Registrar of the Land Court of the State of Hawaii, such termination may but need not necessarily be made effective by recording or filing in such place an affidavit thereof by Lessor or a judgment thereof by a court of competent jurisdiction. If Lessee shall fail to observe or perform any of its covenants herein contained, Lessor at any time thereafter and without notice may, but shall not be obligated to, observe or perform such covenant for the account and at the expense of Lessee, and all reasonable costs and expenses incurred by Lessor in observing and performing such covenant shall constitute additional rent and shall bear interest as provided in paragraph 6 Paragraph 3 hereof.

DEFAULT AND DEFEASANCE. This demise is upon the express condition that if Lessee shall fail to pay said rent or any part thereof within fifteen (15) days after written notice to Lessee, or shall fail to begin to remedy the violation or breach of any of its other covenants or agreements herein within sixty (60) days after written notice thereof given by Lessor Lessors to Lessee and/or fail to complete the same in diligent and workmanlike manner, or shall abandon said premises, or if this lease or any estate or interest of Lessee hereunder shall be sold under any attachment or execution, Lessor Lessors may at once re-enter said premises or any part thereof in the name of the whole and, upon or without such entry, at its their option terminate this lease, without further service of notice or legal process and without prejudice to any other remedy or right of action for arrears of rent or for any preceding or other breach of contract. If this lease is recorded in the Hawaii Bureau of Conveyances or filed in the Office of the Assistant Registrar of the Land Court of Hawaii, such termination may but need not necessarily be made effective by recording or filing in such place an affidavit thereof by Lessor Lessors or a judgment thereof by a court of competent jurisdiction. If Lessee shall fail to observe or perform any of its covenants herein contained, Lessor Lessors at any time thereafter may, but shall not be obligated to, observe or perform such covenant for the account and at the expense of Lessee, and all costs and expenses incurred by Lessor Lessors in observing and performing such covenant shall constitute additional rent and shall bear interest as provided in paragraph 6 hereof.

DEFAULT AND DEFEASANCE. This demise grant of easements is upon the express condition that if Lessee Grantee shall fail to pay said rent or any part thereof within fifteen (15) days after written notice to Lessee, Grantee or shall fail to begin to remedy the violation or breach of any of its other covenants or agreements herein within sixty (60) days after written notice thereof given by Lessor Grantor to Lessee Grantee and/or fail to complete the same in diligent and workmanlike manner, or shall abandon said premisesthe Easement Area, or if this lease grant of easements or any estate or interest of Lessee Grantee hereunder shall be sold under any attachment or execution, Lessor Grantor may at once re-enter said premises reenter the Easement Area or any part thereof in the name of the whole and, upon or without such entry, at its option terminate this leasegrant of easements, without further service of notice or legal process and without prejudice to any other remedy or right of action for arrears of rent or for any preceding or other breach of contract. If this lease grant of easements is recorded in the Hawaii Bureau of Conveyances or filed in the Office of the Assistant Registrar of the Land Court of Hawaii, such termination may but need not necessarily be made effective by recording or filing in such place an affidavit thereof by Lessor Grantor or a judgment thereof by a court of competent jurisdiction. If Lessee Grantee shall fail to observe or perform any of its covenants herein contained, Lessor Grantor at any time thereafter may, but shall not be obligated to, observe or perform such covenant for the account and at the expense of LesseeGrantee, and all costs and expenses incurred by Lessor Grantor in observing and performing such covenant shall constitute additional rent and shall bear interest as provided in paragraph 6 5 hereof.