Default by Landlord and Remedies of Tenant. It shall be a default and breach of this Lease by Landlord if it 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 notice thereof from Tenant; provided, however, that if the term, condition, covenant or obligation to be performed by Landlord is of such nature that the same cannot reasonably be performed within such thirty (30) day period, such default shall be deemed to have been cured if Landlord commences such performance within said thirty (30) day period and thereafter diligently undertakes to complete the same and does complete the same with all deliberate speed and within a reasonable time. Tenant shall not have the right to terminate this Lease or to withhold, offset or xxxxx the payment of rent based upon the unreasonable or arbitrary withholding by Landlord of its consent or approval of any matter requiring Landlord’s consent or approval, including but not limited to any proposed assignment or subletting. Tenant’s remedies in such instance being limited to a declaratory relief action, specific performance, injunctive relief or an action of actual damages. Tenant shall not in any case be entitled to any consequential or punitive damages based upon any Landlord default or withholding of consent or approval. Notwithstanding anything to the contrary contained in this Lease, Tenant agrees and understands that Tenant shall look solely to the estate and property of Landlord in the Building of which the Premises are a part for the enforcement of any judgment (or other judicial decree) requiring the payment of money by Landlord to Tenant by reason of any default or breach by Landlord in the performance of its obligations under this Lease, it being intended hereby that no other assets of Landlord or any of Landlord’s Affiliates shall be subject to levy, execution, attachment or any other legal process for the enforcement or satisfaction of the remedies pursued by Tenant in the event of such default or breach. In the event of a sale or transfer of the Premises by Landlord, the Landlord named herein, or, in the case of a subsequent transfer, the transferor, shall, after the date of such transfer, be automatically released from all personal liability for the performance or observance of any term, condition, covenant or obligation required to be performed or observed by Landlord hereunder; and the transferee shall be deemed to have assumed all of such terms, conditions, covenants and obligations, it being intended hereby that such terms, conditions, covenants and obligations shall be binding upon Landlord, its successors and assigns only during and in respect of their successive periods of ownership during the Term.
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Default by Landlord and Remedies of Tenant. From and after the Expansion Premises Commencement Date, Section 15.3 of the Lease will be deleted in its entirety and the following inserted in lieu thereof: “It shall be a default under and breach of this Lease by Landlord if it 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) 30 days after notice thereof from Tenant; provided, however, that if the term, condition, covenant or obligation to be performed by Landlord is of such nature that the same cannot reasonably be performed within such thirty (30) 30 day period, such default shall be deemed to have been cured if Landlord commences such performance within said thirty (30) 30 day period and thereafter diligently undertakes to complete the same and does complete completes the same with all deliberate speed and required action within a reasonable time, but not more than 60 days after Tenant’s notice in any event. Anything to the contrary contained herein notwithstanding, no written notice shall be required in the event of an emergency which threatens imminent loss of property or injury to persons (although Tenant shall not provide oral notice to Landlord at such time as is reasonable under the circumstances) and Tenant shall have the right to terminate this Lease cure such condition immediately. If Landlord fails to cure any default as and when required hereunder, Tenant may, in addition to all other remedies now or to withholdhereafter afforded or provided by law, offset perform such covenant or xxxxx the payment agreement for or on behalf of rent based upon the unreasonable Landlord, or arbitrary withholding by Landlord of its consent or approval of otherwise cure any matter requiring Landlord’s consent or approvalsuch default, including but not limited to and any proposed assignment or subletting. Tenant’s remedies in such instance being limited to a declaratory relief action, specific performance, injunctive relief or an action of actual damages. reasonable and necessary amount which Tenant shall not in any case advance pursuant thereto shall be entitled to any consequential or punitive damages based upon any Landlord default or withholding of consent or approval. Notwithstanding anything to the contrary contained in this Lease, Tenant agrees and understands that Tenant shall look solely to the estate and property of Landlord in the Building of which the Premises are a part for the enforcement of any judgment (or other judicial decree) requiring the payment of money repaid by Landlord to Tenant by reason of any default or breach by Landlord in the performance of its obligations under this Leasewithin 30 days after written demand therefore, it being intended hereby that no other assets of Landlord or any of Landlord’s Affiliates shall be subject to levy, execution, attachment or any other legal process for the enforcement or satisfaction of the remedies pursued by Tenant and in the event of Landlord does not so reimburse Tenant within such default or breach. In time period, Tenant may deduct from Base Rent and Additional Rent (if any) payments owed under this Lease the event of a sale or transfer of amount equal to the Premises cost and expenses incurred by Landlord, the Landlord named herein, or, in the case of a subsequent transfer, the transferor, shall, after the date of such transfer, be automatically released from all personal liability for the performance or observance of any term, condition, covenant or obligation required to be performed or observed by Landlord hereunder; and the transferee shall be deemed to have assumed all of such terms, conditions, covenants and obligations, it being intended hereby that such terms, conditions, covenants and obligations shall be binding upon Landlord, its successors and assigns only during and in respect of their successive periods of ownership during the TermTenant therefor.”
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Samples: Lease Agreement (Ikaria, Inc.)
Default by Landlord and Remedies of Tenant. It shall be a default under and breach of this Lease by Landlord if it 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 notice thereof from Tenant; provided, however, that mat if the term, condition, covenant or obligation to be performed by Landlord is of such nature that the same cannot reasonably be performed within such thirty (30) day period, such default shall be deemed to have been cured if Landlord commences such performance within said thirty (30) day period and thereafter diligently undertakes to complete the same and does complete same. So long as the same with all deliberate speed and within a reasonable time. Leased Premises remain suitable for Tenant's proposed use, Tenant shall not have the right be entitled to terminate this Lease or to withhold, offset or xxxxx the payment of rent based upon the unreasonable or arbitrary withholding by Landlord of its consent or approval as a result of any matter requiring Landlord’s consent or approvalsuch default. However, including but in the event Landlord does not limited to any proposed assignment or subletting. Tenant’s remedies cure the above described default in the applicable time period, then in such instance being limited event Tenant may do all things necessary to a declaratory relief action, specific performance, injunctive relief or an action of actual damages. Tenant shall not in any case be entitled to any consequential or punitive damages based upon any Landlord remedy such default or withholding of consent or approval. Notwithstanding anything to and perform the contrary contained in this Lease, Tenant agrees and understands that Tenant shall look solely to the estate and property obligations of Landlord in the Building of which the Premises are a part have not been fully or property performed. Landlord shall reimburse Tenant promptly for the enforcement of any judgment (or other judicial decree) requiring the payment of money by Landlord to Tenant by reason of any default or breach by Landlord in the performance of its obligations under this Lease, it being intended hereby that no other assets of Landlord or any of Landlord’s Affiliates shall be subject to levy, execution, attachment or any other legal process for the enforcement or satisfaction of the remedies pursued all costs and expenses reasonably incurred by Tenant in connection with the event foregoing following Landlord's receipt of an itemized invoice therefor. If Landlord fails to make such default or breach. In the event payment within 60 days of a sale or transfer of the Premises by LandlordTenant's written demand, the Landlord named herein, or, in the case of a subsequent transfer, the transferor, shall, after the date of such transfer, be automatically released Tenant may deduct said amount from all personal liability for the performance or observance of any term, condition, covenant or obligation required to be performed or observed by Landlord hereunder; and the transferee shall be deemed to have assumed all of such terms, conditions, covenants and obligations, it being intended hereby that such terms, conditions, covenants and obligations shall be binding upon Landlord, its successors and assigns only during and in respect of their successive periods of ownership during the TermTenant's next Monthly Rental Installment then due.
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Samples: Lease Agreement (I Trax Inc)
Default by Landlord and Remedies of Tenant. It shall be a default and breach of this Lease by Landlord if it 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 notice thereof from Tenant; provided, however, that if the term, condition, covenant or obligation to be performed by Landlord is of such nature that the same cannot reasonably be performed within such thirty (30) day period, such default shall be deemed to have been cured if Landlord commences such performance within said thirty (30) day period and thereafter diligently undertakes to complete the same and does complete same. Tenant shall not have the same with all deliberate speed and within right based upon a reasonable timedefault of Landlord to terminate this Lease or to withhold, offset or xxxxx rent, Tenant's sole recourse for Landlord's default being an action for damages against Landlord for diminution in the rental value of the Premises for the period of Landlord's default, which is proximately caused by Landlord's default. Tenant shall not have the right to terminate this Lease or to withhold, offset or xxxxx the payment of rent based upon the unreasonable or arbitrary withholding by Landlord of its consent or approval of any matter requiring Landlord’s 's consent or approval, including but not limited to any proposed assignment or subletting. , Tenant’s 's remedies in such instance being limited to a declaratory relief action, specific performance, injunctive relief or an action of actual damages. Tenant shall not in any case be entitled to any consequential or punitive damages based upon any Landlord default or withholding of consent or approval. Notwithstanding anything to the contrary contained in this Lease, Tenant agrees and understands that Tenant shall look solely to the estate and property of Landlord in the Building of which the Premises are a part for the enforcement of any judgment (or other judicial decree) requiring the payment of money by Landlord to Tenant by reason of any default or breach by Landlord in the performance of its obligations under this Lease, it being intended hereby that no other assets of Landlord or any of Landlord’s 's Affiliates shall be subject to levy, execution, attachment or any other legal process for the enforcement or satisfaction of the remedies pursued by Tenant in the event of such default or breach. In the event of a sale or transfer of the Premises by Landlord, the Landlord named herein, or, in the case of a subsequent transfer, the transferor, shall, after the date of such transfer, be automatically released from all personal liability for the performance or observance of any term, condition, covenant or obligation required to be performed or observed by Landlord hereunder; and the transferee shall be deemed to have assumed all of such terms, conditions, covenants and obligations, it being intended hereby that such terms, conditions, covenants and obligations shall be binding upon Landlord, its successors and assigns only during and in respect of their successive periods of ownership during the Term.
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