Common use of Default by Landlord and Remedies of Tenant Clause in Contracts

Default by Landlord and Remedies of Tenant. Landlord shall be in default if it fails to perform any term, condition, covenant or obligation required under this Lease for a period of thirty (30) days after written notice thereof from Tenant to Landlord; provided, however, that if the term, condition, covenant or obligation to be performed by Landlord is such that it cannot reasonably be performed within thirty (30) days, such default shall be deemed to have been cured if Landlord commences such performance within said thirty-day period and thereafter diligently undertakes to complete the same. If Landlord fails to cure such default as set forth herein, Tenant’s sole remedy shall be to cure such default of Landlord by performing the relevant obligations, in which case Landlord shall reimburse Tenant for all out of pocket costs actually and reasonably incurred by Xxxxxx in the performance of such obligations within thirty (30) days of receiving an itemized and detailed invoice thereof from Tenant. Tenant shall have no right to terminate this Lease or xxxxx Xxxxxx due to a Default of the Lease by Landlord.

Appears in 2 contracts

Samples: Office Lease, Office Lease

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Default by Landlord and Remedies of Tenant. Landlord The following shall be in an event of default if it by Landlord under this Lease ("Landlord Default"): Landlord fails to perform comply with any term, condition, covenant or obligation required under provision of this Lease for a period of thirty (30) (fifteen (15) days if the failure causes the Leased Premises or a portion thereof to be untenantable (as defined in Section 5.03 hereof) or more after Landlord receives written notice thereof from Tenant to Landlord; providedTenant, however, except that if the term, condition, covenant or obligation to be performed by Landlord is such that it compliance cannot reasonably be performed achieved within the thirty (30) daysor fifteen (15) day period, such default as applicable, there shall be deemed no Landlord Default by Landlord so long as Landlord promptly attempts and diligently and continuously pursues actions intended to have been cured if bring about compliance. In the event of a Landlord commences such performance within said thirty-day period and thereafter diligently undertakes Default, Tenant (in addition to complete the same. If Landlord fails all other remedies to which Tenant may be entitled at law or in equity) may cure such default as set forth hereinby Landlord on behalf of, Tenant’s and at the sole remedy shall be to cure such default of Landlord by performing the relevant obligationsreasonable cost and expense of, in which case Landlord. Landlord shall reimburse Tenant for all out of pocket costs actually and reasonably incurred by Xxxxxx in the performance of such obligations within thirty (30) days after Tenant's delivery to Landlord of receiving a statement therefor for an itemized amount equal to one hundred twenty-five percent (125%) of Tenant's costs and detailed invoice thereof from Tenant. expenses in connection therewith plus the amount of Rental paid by Tenant shall have no right to terminate this Lease or xxxxx Xxxxxx due to a Default that is allocable for any untenantable area of the Lease by LandlordLeased Premises for the period the area was rendered untenantable as a result of the Landlord Default .

Appears in 1 contract

Samples: Office Lease (Idg Books Worldwide Inc)

Default by Landlord and Remedies of Tenant. Landlord It shall be in a default under and breach of this Lease by Landlord if it fails shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of thirty (30) days after written notice thereof from Tenant to LandlordTenant; provided, however, that if the term, condition, covenant or obligation to be performed by Landlord is of such nature that it the same cannot reasonably be performed within such thirty (30) daysday period, such default shall be deemed to have been cured if Landlord commences such performance within said thirty-thirty (30) day period and thereafter diligently undertakes to complete the same. If So long as the Leased Premises remain suitable for Tenant's proposed use, Tenant shall not be entitled to terminate this Lease as a result of any such default. However, in the event Landlord fails does not cure the above described default in the applicable time period, then in such event Tenant may do all things necessary to cure remedy such default as set forth herein, Tenant’s sole remedy shall be to cure such default and perform the obligations of Landlord by performing the relevant obligations, in which case have not been fully or property performed. Landlord shall reimburse Tenant promptly for all out of pocket costs actually and expenses reasonably incurred by Xxxxxx Tenant in connection with the performance foregoing following Landlord's receipt of such obligations within thirty (30) days of receiving an itemized and detailed invoice thereof from Tenant. Tenant shall have no right to terminate this Lease or xxxxx Xxxxxx due to a Default of the Lease by Landlordtherefor.

Appears in 1 contract

Samples: Lease Agreement (Ipayment Inc)

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Default by Landlord and Remedies of Tenant. 28.1 If Landlord shall be default in its obligation to pay money to Tenant for a period often (10) days (hereafter “Monetary Default”), or default if it fails in its obligation to perform or observe any other term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of thirty (30) days after written notice thereof from Tenant to LandlordTenant; providedPROVIDED, howeverHOWEVER, that if the term, condition, covenant or obligation to be performed by Landlord is of such nature that it the same cannot reasonably be performed within such thirty (30) daysday period, excluding any Monetary Default, such default shall be deemed to have been cured if Landlord commences such performance within said thirty-thirty (30) day period and thereafter diligently undertakes to complete the same. If Landlord fails to Upon the occurrence of any such default, Tenant may (a) xxx for injunctive relief, and (b) cure such default as set forth herein, Tenant’s sole remedy shall be to cure such any default of Landlord by performing the relevant obligations, in which case event Landlord shall reimburse Tenant for all out any costs and expenses which Tenant may incur to cure such default, failing payment of pocket costs actually and reasonably incurred which by Xxxxxx in the performance of such obligations Landlord within thirty (30) days of receiving after Tenant renders an itemized invoice to Landlord therefor, deduct the amount due from all rents and detailed invoice thereof other amounts due Landlord from Tenant. Tenant shall have no right to terminate this Lease or xxxxx Xxxxxx due to a Default of the Lease by Landlord.

Appears in 1 contract

Samples: Lease Agreement (Ikaria, Inc.)

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