Common use of Default and Late Charge Clause in Contracts

Default and Late Charge. Notwithstanding anything to the contrary in the Lease, Lessee shall not be deemed to be in default, Lessor shall not be entitled to cure any breach by Lessee under the Lease, nor shall any late charge or interest be imposed, on account of (i) Lessee's failure to pay money to Lessor, unless Lessee's failure to pay continues for five (5) days after Lessee's actual receipt of written notice of delinquency; or (ii) Lessee's failure to perform any covenant of this Lease (other than a covenant to pay money to Lessor), unless Lessee's failure to perform such covenant continues after Lessee's actual receipt of written notice for a period of thirty (30) days or such longer time as may reasonably be required to cure the default. Further, Lessee shall not be in default of this Lease solely because (a) it abandons or vacates the Premises; or (b) as a consequence of the filing of an involuntary bankruptcy petition, the appointment of a receiver, the attachment of any interest in the Lease or of Lessee's other assets or the exercise by any third party of any other remedy with respect to Lessee, Lessee's interest in this Lease or Lessee's other assets, unless the petition, receiver, attachment or other remedy is not discharged within sixty (60) days.

Default and Late Charge. A. Notwithstanding anything to the contrary in the LeaseLease Form, (i) Lessee shall not be deemed to be in default, Lessor shall not be entitled to cure any breach by Lessee under the Lease, nor shall any late charge or interest be imposed, default on account of (i) Lessee's failure to pay money when due to Lessor, unless Lessee's failure to pay continues for five (5) days after Lessee's actual receipt of written notice from Lessor of the delinquency; or , (ii) Lessee's failure Lessee shall not be in default for failing to perform any covenant of this Lease (other than a covenant to pay money to Lessor), ) unless Lessee's failure to perform such covenant continues after Lessee's actual receipt of written notice for a period of thirty (30) days or if such longer time as may default can not reasonably be required cured in thirty (30) days, then within seventy-five (75) days, provided, however, that Lessee has commenced to cure the default. Furtherdefault within such thirty (30) day period and is diligently prosecuting such cure to completion, and (iii) Lessee shall not be in default of this Lease solely because (a) it abandons or vacates the Premises; or (b) as a consequence of the filing of an involuntary bankruptcy petition, the appointment of a receiver, the attachment of any interest in the Lease or of Lessee's other assets or the exercise by any third party of any other remedy with respect to Lessee, Lessee's interest in this Lease or Lessee's other assets, unless the petition, receiver, attachment or other remedy is not discharged within sixty (60) days. Notwithstanding the foregoing, if the time required to cure the default in subsection (ii) above shall require longer than seventy-five days, Lessor shall not unreasonably withhold an extension of time to cure such default so long as Lessee is diligently prosecuting such cure. Furthermore, Lessor may not confess judgment against Lessee for payment of rent or other sums due or for ejectment until the second default of any kind by Lessee within any twelve (12) month period during the term of this Lease or any extension or continuation thereof.

Default and Late Charge. Notwithstanding anything to the contrary in the Lease, Lessee shall not be deemed to be in default, Lessor shall not be entitled to cure any breach by Lessee under the Lease, nor shall any late charge or interest be imposed, on account of (i) Lessee's failure to pay money to Lessor, unless Lessee's failure to pay continues for five (5) days after Lessee's actual receipt of written notice of delinquency; or (ii) Lessee's failure to perform any covenant of this Lease (other than a covenant to pay money to Lessor), unless Lessee's failure to perform such covenant continues after Lessee's actual receipt of written notice for a period of thirty (30) days or such longer time as may reasonably be required to cure the default. Further, Lessee shall not be in default of this Lease solely because (a) it abandons or vacates the Premises; or (b) as a consequence of the filing of an involuntary bankruptcy petition, the appointment of a receiver, the attachment of any interest in the Lease or of Lessee's other assets or the exercise by any third party of any other remedy with respect to Lessee, Lessee's interest in this Lease or Lessee's other assets, unless the petition, receiverreceivership, attachment or other remedy is not discharged within sixty (60) days.