Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offset.
Appears in 2 contracts
Samples: www.sec.gov, Lease (Solyndra, Inc.)
Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder unless if Landlord fails or Landlord’s Mortgagee commences to perform cure the obligations required of Landlord failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after written the expiration of the foregoing notice by and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord and under this Lease (including with respect to any Mortgagee monetary or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein other judgment or award obtained against Landlord has failed to perform such obligation; provided, however, that if the nature for Landlord’s default of Landlord’s obligation is such that more than thirty obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (30) days is required for performanceand not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to terminate this Lease as a result levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsethereunder.
Appears in 2 contracts
Samples: Lease Agreement (Fusion-Io, Inc.), Lease Agreement (Fusion-Io, Inc.)
Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord (except in cases of emergency in which case Landlord’s obligations hereunder shall be performed as soon as reasonably practicable) and to the holder of any Mortgagee mortgage or Ground Lessor (as defined in Subparagraph 34(m) below) deed of trust covering the Premises whose name and address shall have been previously furnished to Tenant in writing specifying wherein what obligation Landlord has failed to perform such obligationperform; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, performance then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease . In addition to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Leaseabove, if Landlord Lxxxxxxx fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such Landlord default within the time period provided aboveLandlord cure period, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord or fails to commence such to cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to the Landlord unless cure period and thereafter diligently pursue the same contains to completion, as applicable, Tenant may, but shall have no obligation to do so, perform the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”same for the account of Landlord. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenantshall, within thirty (30) days following Xxxxxxxxof demand therefor, at Lxxxxxxx’s receipt of a written statementelection, for all reasonable and actual either (i) credit against Txxxxx’s obligation to pay Basic Rent the documented, out-of-pocket costs reasonably incurred by Xxxxxx Tenant in performing curing such obligations on behalf of Landlord. If Landlord fails to pay default, or (ii) reimburse Tenant the documented, out-of-pocket costs reasonably incurred by Tenant in curing such amount prior to Landlord default together with interest thereon at the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In Default Rate from the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment date demanded by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetTxxxxx.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Polarityte, Inc.), Lease Agreement (Polarityte, Inc.)
Default by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for performanceits cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s 's default; Xxxxxx’s , and Tenant's remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and and/or an injunction. Tenant hereby waives any its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. This Lease and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained obligations of Tenant hereunder shall not be interpreted affected or impaired because Landlord is unable to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform fulfill any of its repair and/or maintenance obligations under Subparagraph 13(b) hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord's performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease and does not cure such default within or the time period provided above, then Tenant negotiations which preceded this Lease shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expensebarred unless Tenant commences an action thereon, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure or interposes a defense by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenantreason thereof, within thirty six (306) days following Xxxxxxxx’s receipt months after the date of a written statementthe inaction, for all reasonable and actual costs incurred by Xxxxxx in performing omission, event or action that gave rise to such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodclaim, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courtdemand, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetor defense.
Appears in 2 contracts
Samples: Standard Office Lease (Motivating the Masses Inc), Office Lease (United Panam Financial Corp)
Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate under this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) hereunder and such failure continues for a period of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt after Tenant delivers written notice of a written statement, for all reasonable such failure to Landlord and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration holder(s) of any indebtedness or other obligations secured by any mortgage or deed of trust affecting the Premises, the name and address of which have been provided to Tenant in writing, provided that if such failure cannot reasonably be cured within such thirty (30) day period, Landlord shall not be in default hereunder as long as Landlord or such holder(s) commences the remedying of such failure within such thirty-day period and diligently prosecutes the same to completion, during which time Landlord and such holder(s), or either of them, or their agents or employees, shall be entitled to enter upon the Premises and do whatever may be necessary to remedy such failure. If, except for the passage of time, Tenant would have the right under the provisions of this Section 27 to cure a default by Landlord and the default is one wherein an emergency situation exists, then Tenant may cure the default to the extent reasonably necessary under the circumstances without the need to provide the otherwise required notice and/or to await the otherwise prescribed time. If an event of default of Landlord relating to the Complex occurs and the same can be cured and if Landlord is not exercising diligence to cure the same, Tenant may, subject to any approval the holder(s) of any indebtedness or other obligations secured by any mortgage or deed of trust affecting the Complex, but shall not be obligated to, cure the same in whole or in part and upon receipt of a statement of the costs reasonably incurred by Tenant, Landlord shall forthwith pay the same to Tenant with interest from the date the statement was received by Landlord to the date payment in full is made to Tenant at its election bring an action for damages against the Default Rate. In addition, if Tenant is the prevailing party, Tenant may recover from Landlord on account thereofall reasonable and actual legal fees, costs and expenses (including paralegal fees, expert fees, and other professional fees and expenses) Tenant incurs investigating, negotiating, settling or enforcing any of Tenant’s rights or remedies under this Lease. In the event of a default by Landlord as provided in this Section 27, Tenant is able may exercise any and all remedies given hereunder or by Laws or equity; provided, however, in no instance will Landlord be liable to obtain Tenant for special or punitive damages for a unappealable monetary judgment against failure to perform or a default by Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offset.under this Lease. OFFICE LEASE AGREEMENT/TARGET CORPORATION – Page 35
Appears in 2 contracts
Samples: Office Lease Agreement, Office Lease Agreement (FSP 50 South Tenth Street Corp)
Default by Landlord. It is agreed that in the event Landlord fails or refuses to perform any of the provisions, covenants or conditions of this Lease on Landlord’s part to be kept or performed, that Tenant, prior to exercising any right or remedy Tenant may have against Landlord on account of such default, shall give written notice to Landlord of such default, specifying in said notice the default with which Landlord is charged and Landlord shall not be deemed in default hereunder unless Landlord fails to perform if the obligations required of Landlord same is cured within thirty (30) calendar days after written notice by of receipt of said notice. Notwithstanding any other provisions hereof, Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, agrees that if the default complained of in the notice provided for by this Section 20.6 is of such a nature of that the same can be rectified or cured by Landlord’s obligation is such that more than , but cannot with reasonable diligence be rectified or cured by Landlord within said thirty (30) days is required for performancecalendar-day period, then such default shall be deemed to be rectified or cured if Landlord within a thirty (30) calendar-day period shall commence the rectification and curing thereof and shall continue thereafter with all due diligence to cause such rectification and curing to proceed. For so long as the Loan is outstanding, Tenant shall promptly notify Lender of any default by Landlord hereunder and of any act or omission of Landlord which would give Tenant the right to cancel or terminate this Lease or to claim a partial or total eviction, which continues beyond any applicable cure period. In the event of a default Landlord hereunder which would give Tenant the right, immediately or after the lapse of a period of time, to cancel or terminate this Lease or to xxxxx or offset against the payment of rent or to claim a partial or total eviction, or in the event of any other act or omission of Landlord which would give Tenant the right to cancel or terminate this Lease or to xxxxx or offset against the payment of rent or to claim a partial or total eviction, Tenant shall not be exercise such right (a) until Tenant has given written notice of such default, act or omission to Lender and (b) unless Lender has failed, within thirty (30) days, unless this Lease provides for a longer cure period in default which case such longer cure period shall apply, after Lender receives such notice to cure or remedy the default, act or omission or, if Landlord commences performance such default, act or omission is not reasonably capable of being remedied by Lender within such thirty (30) day or longer cure period, as applicable, until a reasonable period for remedying such default, act or omission not to exceed the greater of (i) ninety (90) days or (ii) the period to which Landlord would be entitled under the Lease, after similar notice, to effect such remedy, shall have elapsed following the giving of notice to Lender, provided that Lender shall with due diligence give Tenant written notice of its intention to, and thereafter diligently prosecutes the same to completionshall commence and continue to, remedy such default, act or omission. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; providedNothing contained herein, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted construed or operate to mean that Tenant is excused from paying rent due hereunder as a result of obligate or require Lender to remedy such default, act or omission. To the extent Lender incurs any default by Xxxxxxxx. Notwithstanding anything to the contrary contained expenses or other costs in this Leasecuring or remedying such default, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease act or omission, including, without limitation, attorneys’ fees and does not cure such default within the time period provided abovedisbursements, then Tenant Lender shall be permitted subrogated to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of rights against Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offset.
Appears in 2 contracts
Samples: Lease Agreement (Bh Re LLC), Lease Agreement (Bh Re LLC)
Default by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after receipt of written notice by from Tenant to Landlord and to the holder of any Mortgagee first mortgage or Ground Lessor (as defined deed of trust covering the Premises whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein that Landlord has failed to perform such obligation; provided, however, that if the nature of CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[***]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT OF 1933. Landlord’s obligation is such that more than thirty (30) days is are reasonably required for performance, performance then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no the event Landlord does not commence performance of any maintenance or repair required of Landlord hereunder within the thirty (30) day period provided herein, and in the event that such maintenance or repair relates to improvements which are wholly within the Premises (not including any Building core systems or equipment), Tenant may perform such maintenance or repair, and Tenant shall be entitled to prompt reimbursement by Landlord of Tenant’s reasonable costs and expenses in taking such action, together with interest thereon at the Agreed Rate. Tenant have the waives any right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited or to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to vacate the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation Premises on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations sole remedy on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring ’s default is an action for damages against Landlord on account thereof. In (subject to the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court terms of competent jurisdiction in connection with said action (the “Judgment”Article XVI hereof) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetor injunctive or declaratory relief.
Appears in 2 contracts
Samples: Work Letter Agreement (Cloudera, Inc.), Work Letter Agreement (Cloudera, Inc.)
Default by Landlord. Landlord shall not be in default hereunder unless of the performance of its obligations under this Lease if Landlord defaults in the performance or observation of any agreement, liability, or obligation imposed on it by this Lease and Landlord fails to perform the obligations required of Landlord cure such default within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation obligations is such that more than thirty (30) days is are required for performance, performance then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently and continuously prosecutes the same to completioncompletion (a “Landlord’s Default”). In no event shall Tenant have Upon the occurrence of a Landlord’s Default under this Lease, Tenant, at its option, without further notice or demand, and without limiting its right to terminate this Lease receive any late delivery payments in connection with Landlord’s delivery of the Leased Premises as a result specified above, may: (a) pursue the remedy of specific performance or injunction; (b) seek declaratory relief; (c) pursue an action for actual and direct damages for loss; and (d) unless such Landlord’s Default results from Landlord’s failure to perform any construction obligations hereunder, but including without limitation repair and maintenance obligations of Landlord, take reasonable measures to cure such Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease Default to the contraryextent relating to the repair or maintenance of the Leased Premises on Landlord’s account, under no circumstances in which event Landlord shall Landlord be liable hereunder to reimburse Tenant for any consequential damages actual out-of-pocket reasonable costs or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure contractual liability incurred by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action such cure (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”including reasonable attorneys’ fees) within thirty (30) days following entry of such Judgment by the courtLandlord’s receipt of a written demand, then and only then statement or invoice, including reasonable back-up documentation; provided that Tenant shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment withhold from its payments of Basic Annual Rent next due and Additional Rent any such amounts that remain unreimbursed by Landlord beyond such thirty (30) day period until all such amounts have been fully reimbursed, and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetamounts not paid to Tenant when due shall accrue interest thereafter at the Default Rate.
Appears in 2 contracts
Samples: Lease Agreement (Healthequity Inc), Lease Agreement (Healthequity Inc)
Default by Landlord. Landlord shall not be deemed to be in default hereunder or ------------------- breach in the performance of any obligation required to be performed by Landlord under this Lease unless Landlord fails and until it has failed to perform the obligations required of Landlord such obligation within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein that Landlord has failed to perform such obligation; provided, however, however that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for its performance, then Landlord shall not be deemed to be in default or breach if Landlord commences it shall commence such performance within such thirty (30) day period and thereafter diligently prosecutes prosecute the same to completion. In Tenant shall have no event shall Tenant have the right to terminate this Lease, except where Landlord fails to cure a material breach within the time periods set forth in the immediately preceding sentence. No default or breach on the part of Landlord that would entitle Tenant under the terms of this Lease or by law to terminate this Lease shall result in a termination of this Lease unless (i) Tenant has given written notice of such default or breach by registered or certified mail to any beneficiary of a deed of trust or mortgagee of a mortgage covering the Premises whose address shall have been furnished to Tenant and (ii) Tenant offers such beneficiary or mortgagee the same opportunity to cure the default or breach as a result is available to Landlord under the express terms of this Lease. It is expressly understood and agreed that any money judgment against Landlord resulting from any default or other claim arising under this Lease or related thereto shall be satisfied only out of Landlord’s default; Xxxxxx’s remedies 's equity interest in the Premises, and no other real, personal or mixed property of Landlord, wherever situated, shall be limited subject to levy on any other remedy available at such judgment obtained against Landlord and if such equity interest in the Premises is insufficient for the payment of such judgment, Tenant will not institute any further action, suit, claim or demand, in law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay for the amount of such Judgment (deficiency. Tenant hereby waives, to the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courtextent waivable under law, then and only then shall Tenant have the any right to offset satisfy said money judgment against Landlord except from Landlord's equity interest in the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetPremises.
Appears in 2 contracts
Samples: Office Lease (Chemdex Corp), Office Lease (Chemdex Corp)
Default by Landlord. Landlord shall not in no event be charged with default in default any of its obligations hereunder unless and until Landlord fails shall have failed to perform the such obligations required of Landlord within thirty (30) days (or such additional time as is reasonably required to correct any such default provided Landlord has commenced action to correct such default within said 30 day period and continues to diligently prosecute such action to completion) after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein by Tenant, specifically describing such failure. All obligations of Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies hereunder shall be limited to any other remedy available at law or in equityconstrued as covenants, not conditions; providedand, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord except as may be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as otherwise expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Tenant may not terminate this Lease for breach of Landlord’s obligations hereunder. All obligations of Landlord fails to perform any under this Lease will be deemed binding upon Landlord only during the period of its repair and/or maintenance obligations under Subparagraph 13(b) ownership of the Project and not thereafter. The term “Landlord” in this Lease and does not cure such default within shall mean only the owner, for the time period provided abovebeing of the Project, then Tenant and in the event of the transfer by such owner of its interest in the Project, such owner shall thereupon be released and discharged from all obligations of Landlord thereafter accruing, but such obligations shall be permitted binding during the Lease term upon each new owner for the duration of such owner’s ownership. Any liability of Landlord under this Lease shall be limited solely to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligationsits interest in the Project, and provided in no event shall any personal liability be asserted against Landlord fails in connection with this Lease nor shall any recourse be had to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf any other property or assets of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event of an immediate necessary repair, Tenant may act for Landlord if Landlord is able unable to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) achieve immediate results, and Landlord fails to pay the amount of shall reimburse Tenant for all reasonable expense incurred by Tenant in such Judgment (the “Judgment Amount”) within thirty (30) days following entry of action based on Landlord’s payment experience with such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetrepair.
Appears in 2 contracts
Samples: Industrial Lease (Wornick CO Right Away Division, L.P.), Industrial Lease (TWC Holding Corp.)
Default by Landlord. Landlord In the event of any alleged default on the part of Landlord, Tenant shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written give notice by Tenant to Landlord and afford Landlord a reasonable opportunity to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform cure such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completiondefault. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies Such notice shall be limited to any other remedy available at law or ineffective unless a copy is simultaneously also delivered in equity; provided, however, notwithstanding anything the manner required in this Lease to any holder of a mortgage and/or deed of trust affecting all or any portion of the contraryBuilding Complex (collectively, under "Mortgagee"), provided that prior to such notice Tenant has been notified (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of a Mortgagee. If Landlord fails to cure such default within the time provided, then Mortgagee shall have an additional 30 days following a second notice from Tenant or, if such default cannot be cured within that time, such additional time as may be necessary provided within such 30 days, Mortgagee commences and diligently pursues a cure (including commencement of foreclosure proceedings if necessary to effect such cure). Tenant's sole remedy will be equitable relief or actual damages but in no circumstances shall event is Landlord be liable hereunder to Tenant or any Mortgagee responsible for any consequential damages or for loss of business, revenue, income or profits and lost profit incurred by Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails a Mortgagee, or transferee under such Mortgage (hereafter defined), succeeds to Landlord's interest as a result of foreclosure or otherwise, such party shall not be: (i) liable for any default, nor subject to any setoff or defenses that Tenant may have against Landlord; (ii) bound by any amendment (including an agreement for early termination) without its consent made at any time after notice to Tenant that such Mortgage requires such consent; and (iii) bound by payment of Rent in advance for more than 30 days. Tenant agrees to pay such amount prior Rent (and will receive credit under this Lease) as directed in any Mortgagee's notice of Landlord's default under the Mortgage reciting that Mortgagee is entitled to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetcollect Rent.
Appears in 1 contract
Default by Landlord. Except as otherwise provided in the state’s statutes governing Landlord shall Tenant Law, if there is a material noncompliance by Landlord with this Lease and Sublease Agreement, Tenant may deliver a written notice to the Landlord specifying the acts and omissions constituting the breach and that the Lease and Sublease Agreement will terminate upon a periodic rent-paying date not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within less than thirty (30) days after receipt of the notice. The Lease and Sublease Agreement shall terminate as provided in the notice, subject to the following: If the breach is remediable by repairs or the payment of damages or otherwise, and Landlord adequately initiates a good faith effort to remedy the breach within fourteen (14) days after receipt of the notice, the Lease and Sublease Agreement shall not terminate. However, in the event that the same or a similar breach occurs after the 14-day period provided therein, Tenant may deliver a written notice by Tenant to Landlord specifically describing the breach and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, stating that if the nature of Landlord’s obligation is such that more Lease and Sublease Agreement shall terminate upon a periodic rent-paying date not less than thirty (30) days after the receipt of such notice by Landlord. The Lease and Sublease Agreement shall then terminate as provided in such notice. Tenant may not terminate for a condition caused by an act or omission of, or which is required or can be properly attributable to or applicable to, Tenant or any person on the Premises at any time with Tenant’s express or implied permission or consent. Except as otherwise provided in the Ohio Landlord Tenant Law, Tenant may recover damages and obtain injunctive relief for performanceany noncompliance by Landlord with the Lease and Sublease Agreement. The remedy provided in this paragraph shall be in addition to any right of Tenant arising earlier in this Section 18. If the Lease and Sublease Agreement is terminated, then Landlord shall return that portion of the security deposit recoverable by Tenant under the State’s Residential Landlord and Tenant Act. The provisions of this Section 18 shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the limit Landlord’s or Tenant’s right to terminate this Lease as a result of Landlordand Sublease Agreement pursuant to State’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Statutes governing Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligationsLaw, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetamendments thereto.
Appears in 1 contract
Samples: Lease and Sublease Agreement
Default by Landlord. In the event of any alleged default on the part ------------------- of Landlord hereunder, Tenant shall give written notice to Landlord in the manner herein set forth and shall afford Landlord a reasonable opportunity to cure any such default. Notice to Landlord of any such alleged default shall be ineffective unless notice is simultaneously delivered to any holder of a Mortgage and/or Trust Deed affecting all or any portion of the Building Complex ("Mortgagees"), as hereafter provided. Xxxxxx agrees to give all Mortgagees, by certified mail, return receipt requested, a copy of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified, in writing (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of such Mortgagees. Tenant further agrees that if Landlord shall not be have failed to cure such default within the time provided for in default hereunder unless Landlord fails to perform this Lease, then the obligations required of Landlord within Mortgagees shall have an additional thirty (30) days after written notice by Tenant within which to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform cure such obligation; provideddefault or, however, if such default cannot be cured within that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performancetime, then Landlord shall not such additional time as may be in default if Landlord commences performance necessary, if, within such thirty (30) day period days, any Mortgagee has commenced and thereafter is diligently prosecutes pursuing the same remedies necessary to completioncure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being so diligently pursued. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall will Landlord or any Mortgagee be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant responsible for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder incurred by Xxxxxx as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Leasedefault, if Landlord fails to perform including, but not limited to, lost profits or interruption of business as a result of any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a alleged default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsethereunder.
Appears in 1 contract
Samples: Lease (Daily Journal Corp)
Default by Landlord. Landlord shall not be in default hereunder unless If Landlord fails to perform the obligations required or observe any covenant, term, provision or condition of Landlord within this Lease, and such default should continue beyond a period of ten (10) days as to a monetary default or thirty (30) days (or such longer period as is reasonably necessary to remedy such non-monetary default, provided Landlord shall continuously and diligently pursue such remedy at all times until such default is cured) as to a non-monetary default, after in each instance written notice thereof is given by Tenant to Landlord [and a copy of said notice is sent simultaneously therewith to any Mortgagee or Ground Lessor party (as defined including without limitation a mortgagee) entitled to receive notice pursuant to Section 17.04 hereof (the “Notice Parties”)] then, in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform any such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord event Tenant shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to (i) cure such default, and Landlord shall reimburse Tenant for all reasonable sums expended in so curing said default (which reimbursement Tenant may effect through the withholding of Rent), and/or (ii) commence such actions at law or in equity to which Tenant may be entitled (other than an action to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies Lease). Tenant shall be entitled to offset against Base Rent (provided that such offset shall be limited to twenty percent (20%) of any Base Rent installment), or to counterclaim for any amounts owed to Tenant by Landlord pursuant to this Lease, plus interest thereon at the Default Interest Rate, to the extent that such amounts remain unpaid. Notwithstanding the foregoing, Tenant may offset against all Base Rent and other remedy Rent next coming due without limitation (and not just 20% thereof) (1) any portion of the Finish Allowance not paid by Landlord to Tenant when due in accordance with Exhibit “D-1”, (2) any portion of the Security Amount not paid by Landlord to Tenant when due in accordance with Section 7.01 (e), (3) any portion of the sums owed to Tenant under Section 5.04 not paid when due, and/or (4) any amounts determined to be Landlord’s liability pursuant to Section 17.29 or in any judgment entered by a court and to which execution has not been stayed (through appeal or bond), plus interest on all such sums in (1), (2), (3) and (4) at the Default Interest Rate. Tenant agrees that the cure of any default by any of the Notice Parties shall be deemed a cure by Landlord under this Lease. The foregoing provisions shall not limit other remedies available to Tenant under this Lease or at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offset.
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (I2 Technologies Inc)
Default by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations an obligation required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any each Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing of which Tenant has received prior written notice, specifying wherein Landlord has failed to perform such obligationthe nature of the alleged default; provided, however, that if the nature of Landlord’s the obligation is such that more than thirty (30) days is are required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have agrees to give each Mortgagee, at the right same time Tenant delivers written notice to terminate this Lease as Landlord, by registered or certified mail or nationally recognized overnight delivery service, a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result copy of any notice of default served upon Landlord by XxxxxxxxTenant, provided that, prior to such notice, Tenant has been notified in writing (by way of service on Tenant of a copy of assignment of rents and leases or otherwise) of the address of such Mortgagee. Notwithstanding anything to the contrary contained in this Lease, Tenant further agrees that if Landlord fails shall have failed to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statementafter such notice to Landlord (or if such default cannot be cured or corrected within that time, for all reasonable and actual costs incurred by Xxxxxx in performing then such obligations on behalf of Landlord. If additional time as may be necessary if Landlord fails to pay such amount prior to the expiration of has commenced within such thirty (30) day periodperiod and is diligently pursuing the remedies or steps necessary to cure or correct such default), Tenant may at its election bring then any Mortgagee shall have an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within additional thirty (30) days following entry within which to cure or correct such default (or if such default cannot be cured or corrected within that time, then such additional time as may be necessary if such Mortgagee has commenced within such thirty (30) day period and is diligently pursuing the remedies or steps necessary to cure or correct such default). Notwithstanding the foregoing, in no event shall any Mortgagee have any obligation to cure any default of such Judgment Landlord. "Mortgagee" shall mean the holder of any mortgage or deed of trust secured by the courtBuilding or the real property on which the Building is located, then the master lessor under any master lease affecting the Building or the real property on which the Building is located, and/or the ground lessor under any ground lease affecting the Building or the real property on which the Building is located. If any event of default by Landlord has not been cured within the time periods provided for herein, Tenant shall have all rights and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetremedies afforded under Applicable Law in connection therewith.
Appears in 1 contract
Samples: Allos Therapeutics Inc
Default by Landlord. In the event of any alleged default on the part ------------------- of Landlord, Tenant shall give notice to Landlord and afford Landlord a reasonable opportunity to cure such default. Such notice shall be ineffective unless a copy is simultaneously also delivered in the manner required in this Lease to any holder of a mortgage and/or deed of trust affecting all or any portion of the Building Complex (collectively, "Mortgagee"), provided that prior to such notice Tenant has been notified (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of a Mortgagee. If Landlord fails to cure such default within the time provided, then Mortgagee shall have an additional 30 days following a second notice from Tenant or, if such default cannot be cured within that time, such additional time as may be necessary provided within such 30 days, Mortgagee commences and diligently pursues a cure (including commencement of foreclosure proceedings if necessary to effect such cure). If such default is in Landlord's failure to make repairs, provide essential services or pay utility bills as are required under this Lease, then following such applicable cure period, Tenant may (but shall not be obligated to) make such repairs (in such manner as to not to void applicable warranties), provide services or pay such bills as are reasonably required to cure such default hereunder unless Landlord fails to perform the obligations required on behalf of Landlord and Landlord shall reimburse Tenant within thirty (30) 30 days after written notice of receipt of Tenant's invoice the full amount of such reasonable out-of-pocket cost and expense incurred by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligationTenant; provided, however, that if Landlord disputes that such default exists or disputes the nature reasonableness of Landlord’s obligation is such that more than thirty (30) days is required for performancethe amount to be paid, by notice to Tenant prior to the expiration of the 30 day period, then Landlord shall have no obligation to pay such amount until Tenant has obtained a final non-appealable court judgment that such sum was due and payable to Tenant under the terms of this Section 21 and wrongfully withheld by Landlord. If any such repairs will affect the HVAC, plumbing, electrical or mechanical systems of the Building (the "Building Systems"), the structural integrity of the Building, or the exterior appearance of the Building, Tenant shall use only those contractors used by Landlord in the Building for work on the Building Systems, or its structure, and Landlord shall provide Tenant (upon Tenant's request) with notice identifying such contractors and any changes to the list of such contractors, unless such contractors are unwilling or unable to perform such work or the cost of such work is not competitive, in which event Tenant may utilize the services of any other qualified contractors which normally and regularly performs similar work on comparable buildings. To the extent any sum thus reimbursed to Tenant by Landlord represents an amount that would have been included in the Operating Expenses of the Building if paid by Landlord to perform the obligation in question, Landlord shall be entitled to include in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes Operating Expenses the same sum reimbursed to completionTenant. In Tenant's sole additional remedy will be equitable relief or actual damages but in no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to is Landlord or any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant Mortgagee responsible for any consequential damages or for loss of business, revenue, income or profits and lost profit incurred by Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If a Mortgagee, or transferee under such Mortgage (hereafter defined), succeeds to Landlord's interest as a result of foreclosure or otherwise, such party shall not be: (i) liable for any default, nor subject to any setoff or defenses that Tenant may have against Landlord fails (but such limitation shall not relieve such party from the responsibility to perform the obligations as successor to Landlord ongoing during its period of ownership); (ii) bound by any amendment (including an agreement for early termination) without its consent made at any time after notice to Tenant that such Mortgage requires such consent; and (iii) bound by payment of Rent in advance for more than 30 days. Tenant agrees to pay such amount prior Rent (and will receive credit under this Lease) as directed in any Mortgagee's notice of Landlord's default under the Mortgage reciting that Mortgagee is entitled to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetcollect Rent.
Appears in 1 contract
Samples: Lease Agreement (Lifeminders Inc)
Default by Landlord. If Landlord defaults in the observance or performance of any covenant, condition or obligation in this Lease on its part to be observed or performed, Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within have thirty (30) days after receiving written notice from Tenant stating the default complained of and referring to the Article and Section in this Lease relied on by Tenant Tenant, to Landlord and cure or cause to be cured any Mortgagee such default, or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform if such obligation; provided, however, that if the nature default is not capable of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance being cured within such thirty (30) day period and thereafter diligently prosecutes days to commence to cure the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any during such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt and thereafter proceed to cure the same in good faith, with diligence, and within a reasonable period of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlordtime. If Landlord fails to pay cure any such default or to diligently and in good faith pursue the cure as provided for herein, or if any representation or warranty made by or on behalf of Landlord in this Lease or in any document or agreement delivered in connection with the transactions contemplated by this Lease shall prove to have been false or incorrect or breached in any material respect on the date as of which made, then Tenant may xxx Landlord for its damages, including, without limitation, such additional sums as the court may adjudge reasonable as attorneys' fees in any successful suit or action instituted by Tenant to enforce the provisions of this Lease, and may further obtain injunctive relief if necessary to maintain operation of the Demised Premises or comply with applicable legal requirements of any governmental authority. In addition, Tenant may at its option, without waiving any claim for damages for breach of agreement, at any time thereafter cure such default for the account of Landlord, and any amount paid or any contractual liability incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord agrees to reimburse Tenant therefor or save Tenant harmless therefrom; provided that Tenant may cure any such default as aforesaid prior to the expiration of such said thirty (30) day periodperiod if reasonably necessary to cure a default under any mortgage or encumbrance which is a lien on the Demised Premises, or to protect the Demised Premises or Tenant's interest therein, or to prevent injury or damage to persons or property, or to enable Tenant to conduct its business in the Demised Premises. If Landlord shall fail to reimburse Tenant upon demand for any amount paid for the account of Landlord hereunder or for any other sum payable to Tenant pursuant to this Lease, said amount plus interest thereon at the rate per annum set forth in Section 3.1.4 hereof from the date of demand upon Landlord for payment, may at its election bring an action for damages against Landlord on account thereof. In be deducted by Tenant from the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and or any succeeding monthly installments payments of Basic Annual Rent until fully satisfied from such offsetdue hereunder.
Appears in 1 contract
Samples: Lease Agreement (Integrated Living Communities Inc)
Default by Landlord. Subject to the terms and conditions of this section 16.3, Landlord's failure to perform its obligations under this Lease shall constitute a breach of this Lease by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust encumbering the Premises whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for performanceits cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. This Lease and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained obligations of Tenant hereunder shall not be interpreted affected or impaired because Landlord is unable to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform fulfill any of its repair and/or maintenance obligations under Subparagraph 13(b) hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord's performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease and does not cure such default within or the time period provided above, then Tenant negotiations which preceded this Lease shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expensebarred unless Tenant commences an action thereon, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure or interposes a defense by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenantreason thereof, within thirty one (301) days following Xxxxxxxx’s receipt year after the date of a written statementthe inaction, for all reasonable and actual costs incurred by Xxxxxx in performing omission, event or action that gave rise to such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodclaim, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courtdemand, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetor defense.
Appears in 1 contract
Default by Landlord. In the event of any default by Landlord hereunder, Tenant's exclusive remedy shall be an action for damages and/or equitable relief, but prior to any such action Tenant shall give Landlord written notice specifying such default with reasonable detail, and Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thereupon have thirty (30) days after written notice by Tenant in which to Landlord and to cure any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is default. If such that more than default cannot reasonably be cured within such thirty (30) days is day period, the length of such period shall be extended for the period reasonably required for performance, then Landlord shall not be in default therefore if Landlord commences performance curing such default within such thirty (30) day period and thereafter diligently prosecutes continues the curing thereof with reasonable diligence and continuity. Unless Landlord fails to cure any default after such notice, Tenant shall not have any remedy or cause of action by reason thereof. Tenant will give notice by registered or certified mail to any beneficiary of a deed of trust or mortgagee of a mortgage covering the Premises whose address Landlord has supplied to Tenant at the same time notice is sent to completionLandlord, and shall offer such beneficiary or mortgagee a reasonable opportunity to cure the default, but no longer than forty-five (45) days after the notice is sent. The term "Landlord" shall mean only the last owner of the Building and Land, and in the event of the transfer by such owner of its interest in the Building and Land, such owner shall thereupon be released and discharged from all covenants and obligations of the Landlord thereafter accruing, but such covenants and obligations shall be binding during the term of this Lease upon each new owner of the Building and Land for the duration of such owner's ownership of the Building and Land. In no event addition, Tenant specifically agrees to look solely to Landlord's interest in the Building and Land for the recovery of any judgment from Landlord pursuant to this Lease, it being agreed that neither Landlord nor any successors or assigns of Landlord nor any future owner of the Building and Land shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall ever be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be personally liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetjudgment.
Appears in 1 contract
Default by Landlord. Subject to Section 10.1, it is agreed that in the event Landlord fails or refuses to perform any of the provisions, covenants or conditions of this Lease on Landlord's part to be kept or performed, that Tenant, prior to exercising any right or remedy Tenant may have against Landlord on account of such default, shall give written notice to Landlord of such default, specifying in said notice the default with which Landlord is charged and Landlord shall not be deemed in default hereunder unless Landlord fails to perform if the obligations required of Landlord same is cured within thirty (30) days after written notice by of receipt of said notice. Notwithstanding any other provision hereof, Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, agrees that if the default complained of in the notice provided for by this Section is of such a nature of that the -same can be rectified or cured by Landlord’s obligation is such that more than , but cannot with reasonable diligence be rectified or cured by Landlord within said thirty (30) days is required for performanceday period, then Landlord such default shall not be in default deemed to be rectified or cured if Landlord commences performance within such a thirty (30) day period shall commence the rectification and curing thereof and shall continue thereafter diligently prosecutes the same with all due diligence to completioncause such rectification and curing to proceed. In no event shall Tenant have the right to terminate or rescind this Lease as a result of Landlord’s default; Xxxxxx’s 's default as to any covenant or agreement contained in this Lease or as a result of the breach of any promise or inducement hereof, whether in the Lease or elsewhere. Tenant hereby waives such remedies of termination and recession and hereby agrees that Tenant's remedies for default hereunder and for breach of any promise or inducement shall be limited to any other remedy available at law or in equity; provideda suit for specific performance, howeverdeclaratory judgment, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetinjunctive relief.
Appears in 1 contract
Samples: Lease (Mego Financial Corp)
Default by Landlord. No default by Landlord hereunder shall not constitute an eviction or disturbance of Tenant’s use and possession of the Premises or render Landlord liable for damages, of any kind or nature, or entitle Tenant to be in default relieved from any of Tenant’s obligations hereunder unless Landlord fails (including the obligation to perform pay Rent) or grant Tenant any right of deduction, abatement, set-off or recoupment, or entitle Tenant to take any action whatsoever with regard to the obligations required of Landlord within Premises or Landlord, until thirty (30) days after Tenant has given Landlord written notice specifically setting forth such default by Tenant to Landlord Landlord, and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform cure such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than default within said thirty (30) days is required for performanceday period, or in the event such default cannot be cured within said thirty (30) day period, then within an additional reasonable period of time so long as Landlord shall not be in default if Landlord commences performance has commenced curative action within such said thirty (30) day period and thereafter is diligently prosecutes the same attempting to completioncure such default. In no the event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such said thirty (30) day period, or within said the additional reasonable period of time, Tenant may shall have the right, as its sole and exclusive remedy, to proceed to cure such default and deduct the cost of curing same plus interest thereon at the rate of ten percent (10%) per annum from the next succeeding Base Rent installment(s) due by Tenant to Landlord hereunder. If any mortgagee of Landlord has given Tenant its election bring address for notices and specifically requests such notice, Xxxxxx agrees to give the notice required hereinabove to such mortgagee at the time Tenant gives same to Landlord, and to accept curative action, if any, undertaken by such mortgagee as if such curative action had been taken by Landlord. The liability of Landlord (and all other Addison Persons and all Manager Persons) for any default by Landlord under this Lease shall be limited to an action for damages against Landlord on account thereof. In the event Tenant is able amount equal to obtain a unappealable monetary judgment against Landlord from a court twelve (12) months of competent jurisdiction in connection with said action Base Rent (the “Judgment”) and Landlord fails to pay the amount of such Judgment (Base Rent being the “Judgment Amount”) within thirty (30) days following entry amount in effect at the time of such Judgment by the courtdefault), then and only then Landlord (and all other Addison Persons and all Manager Persons) shall not be otherwise or personally liable for any deficiency, claim, harm, loss, judgment, liability, or for any other matter whatsoever, and Xxxxxx (for itself and all Tenant have the right to offset the Judgment Amount Persons) fully waives all other rights of recovery against up to twenty-five percent Landlord (25%and all other Addison Persons and all Manager Persons) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments assets of Basic Rent until fully satisfied from such offsetLandlord (and all other Addison Persons and all Manager Persons).
Appears in 1 contract
Samples: agendas.addisontx.gov
Default by Landlord. In the event of any default by Landlord, Tenant's exclusive remedy shall be an action for actual direct damages (Tenant hereby waiving the benefit of any laws granting it a lien upon the property of Landlord and/or upon rent due Landlord), but prior to any such action Tenant will give Landlord written notice specifying such default with particularity, and Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thereupon have thirty (30) days in which to cure any such default. Unless and until Landlord fails to so cure any default after written notice such notice, Tenant shall not have any remedy or cause of action by Tenant to reason thereof. All obligations of Landlord hereunder will be construed as covenants, not conditions, and to all such obligations will be binding upon Landlord only during the period of its possession of the Premises and not thereafter. The term "Landlord" shall mean only the owner, for the time being of the Premises and in the event of the transfer by such owner of its interest in the Premises, such owner shall thereupon be released and discharged from all covenants and obligations of the Landlord thereafter accruing, but such covenants and obligations shall be binding during the lease term upon each new owner for the duration of such owner's ownership. Notwithstanding any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; providedother provision hereof, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereofpersonal liability hereunder. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment breach ol default by Landlord in any term or provision of Basic Rent next due this Lease Tenant agrees to look solely to the equity or interest then owned by Landlord and in the Property, however, in no event, shall any succeeding monthly installments deficiency judgment or any money judgment of Basic Rent until fully satisfied from such offsetany kind be sought or obtained against any Landlord.
Appears in 1 contract
Default by Landlord. Landlord shall not be in default hereunder unless of this Lease if Landlord fails to perform any of its obligations under this Lease within ten (10) days after receipt of written notice from Tenant specifying such failure in the case of monetary obligations required of owed by Landlord within to Tenant or thirty (30) days after receipt of written notice by from Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined specifying such failure in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; the case of non-monetary obligations, provided, however, that if the nature of Landlord’s obligation such default is such that more than thirty (30) days is required for performanceit cannot reasonably be cured within such period, then Landlord shall not be in default if have such additional time as is reasonably required to cure such default, provided that Landlord commences performance to cure the default within such thirty (30) day period and thereafter diligently prosecutes the same proceeds to completioncomplete such cure with diligence and continuity. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if If Landlord fails to perform its obligations as set forth above or in the event of an emergency, Tenant may, at its option, in addition to any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided aboveother remedies at law or equity, then Tenant shall be permitted incur any expense necessary to perform the obligations of Landlord specified in such repair and/or maintenance obligation notice on Landlord’s 's behalf and at as Landlord’s sole cost and expense's agent (but Landlord shall remain responsible for such work), provided in which event Landlord shall reimburse Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all any reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf Tenant within fifteen (15) days after receipt of Landlordan invoice therefor. If Landlord fails to pay such amount prior to the expiration costs within fifteen (15) days after receipt of such thirty (30) day periodan invoice therefor, then Landlord shall be in default hereunder and Tenant may pursue all rights and remedies available hereunder and at its election bring an action for damages against Landlord on account thereoflaw or in equity. In the event that Tenant is able to obtain obtains a unappealable monetary money judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courtLandlord, then Tenant shall be entitled to deduct such amounts from the Annual Base Rent, additional rent and only then other charges otherwise becoming due hereunder, together with interest on the unpaid balance thereof at the Interest Rate from the date originally due, provided that in any given month Tenant shall Tenant have the right to not offset the Judgment Amount against up to twenty-five a sum greater than fifty percent (2550%) of any monthly installment of Basic Rent next all charges due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from during such offsetmonth.
Appears in 1 contract
Samples: Commercial Lease Agreement (Bioanalytical Systems Inc)
Default by Landlord. Except where the provisions of this Lease grant Tenant an express, exclusive remedy, or expressly deny Tenant a remedy, if: (i) Landlord shall not be in default fails to pay any amount payable by Landlord hereunder unless on or before the date such payment is due and such failure to pay continues and remains unremedied for a period of ten (10) days after written notice thereof given by Tenant to Landlord; or (ii) Landlord fails to perform the obligations required or observe any covenant, term, provision or condition of Landlord within this Lease, and such failure continues for a period of thirty (30) days after written notice thereof given by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligationLandlord; provided, however, that if the nature of Landlord’s obligation the default is such that more than it cannot be cured with the exercise of Landlord's reasonable and good faith efforts within such thirty (30) days is required for performanceday period, then Landlord shall not be in default if have such additional time as is reasonably necessary to cure such default, provided Landlord commences performance such curative action within such thirty (30) day period and thereafter diligently prosecutes the same and continuously proceeds with such curative action using Landlord's reasonable and good faith efforts; then, Tenant may deliver a second notice to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair continue uncured by Landlord and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord its mortgagee for an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to after the expiration delivery of such thirty second notice (30) day periodsuch event thereby becoming an "Event of Default" by Landlord), Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset exercise one or more of the Judgment Amount following options (but not (A) and (B) simultaneously): (A) Tenant may cure the default in which event Landlord shall reimburse Tenant (which reimbursement may be effected through the withholding of or offsetting of such amounts against up to twenty-five fifty percent (2550%) of the Base Rent due hereunder) for all reasonable sums expended in so curing said default, (B) if the Event of Default by Landlord causes more than fifty percent (50%) of the Premises to be Untenantable for a continuous period in excess of one (1) year from the date of Tenant's initial notice of default, Tenant may terminate this Lease at any monthly installment time prior to the date such Event of Basic Rent next due Default has been cured by Landlord, and (C) Tenant may pursue all other remedies at law or in equity to which Tenant may be entitled. No notice to Landlord and under this Section 8.8 shall be effective until a copy thereof is delivered to each Landlord mortgagee for which Tenant has received a notice address in writing from Landlord or its mortgagee. The rights of Tenant pursuant to this Section 8.8 shall be subject to the express provisions of this Lease providing for remedies different from, or in exclusion of, the remedies above-described. Without limiting the immediately preceding sentence, the provisions of this Section 8.8 shall not apply to a default of Landlord under, or the failure of Landlord to provide the services described in, Section 4.1 of this Lease. Tenant may not terminate this Lease because of Landlord's default unless specifically permitted pursuant to this Section 8.8 or unless otherwise specifically provided in this Lease. Tenant specifically agrees that the cure of any succeeding monthly installments of Basic Rent until fully satisfied from such offsetdefault by any Landlord mortgagee shall be deemed a cure by Landlord under this Lease.
Appears in 1 contract
Default by Landlord. Landlord shall not be deemed to be in default hereunder unless under this Lease if Tenant has given written (or verbal, in case of emergency) notice to Landlord fails (and, if requested by Landlord, to perform Landlord’s mortgagee if the obligations required mortgagee has notified Tenant in writing of its interest and the address to which such notices are to be sent) of any such default by Landlord and Landlord has failed to cure such default within thirty (30) days (or with reasonable promptness, in case of emergency) after written Landlord received notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; providedthereof. Provided, however, that if the nature of Landlord’s obligation default in a non-emergency situation is such that more than thirty (30) days is are reasonably required for performancea cure, then Landlord shall not be deemed to be in default if Landlord commences performance such cure within such the original thirty (30) day period and thereafter diligently prosecutes the same cure to completion. In no the event Landlord defaults in any material obligation under the Lease and the applicable cure period has expired, Tenant shall be entitled to cure the default, at Tenant’s option, including the payment of monies directly to the party to whom the obligation is owed, or Tenant have may terminate the right Lease by notice to terminate this Lease Landlord at any time before the default is cured, or Tenant may pursue any other remedy permitted or available to Tenant under applicable law. In the event of any such payment by Tenant, Tenant shall receive credit toward any Rent due to Landlord to the extent of any payment made. Tenant shall be entitled to a fair and reasonable abatement of Rent during the time and to the extent that the Premises are untenantable as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails failure to perform any condition or covenant required under the Lease to be performed by Landlord. The failure of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant to pursue any remedy shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless as a waiver by reason of any subsequent breach or breaches by the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”Landlord. Any such cure The exercise of any remedy by Tenant shall not be deemed an election of a default by Landlord under Subparagraph 13(b) above shall be performed remedies or preclude Tenant from exercising any other remedies in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetfuture.
Appears in 1 contract
Samples: Office Lease (Annie's, Inc.)
Default by Landlord. Landlord shall not will be in default hereunder unless under this Lease if Landlord fails to perform the obligations required cure a breach of Landlord within thirty (30) days after written this Lease following 30 days’ notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completionfrom Tenant. In no the event shall Tenant have the right of such Landlord default, Tenant, in addition to terminate this Lease as a result of Landlord’s default; Xxxxxx’s pursuing any or all other remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease will have the right to the contrary, under no circumstances shall Landlord be liable hereunder take commercially reasonable actions to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any cure Landlord’s default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Leaseand, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(breimburse Tenant for the reasonable costs, fees and expenses (including reasonable attorneys’ fees) of this Lease and does not cure for such default within the time period provided abovecurative actions, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If or if Landlord fails to pay any other amount owed to Tenant under this Lease, in either case, within 30 days after demand therefor and accompanied by supporting evidence of the expenses incurred by Tenant where applicable, Tenant may (a) offset up to 50% of Base Rent each month (provided that such amounts may be accelerated in order for Tenant to recover the full amount prior to the expiration of such thirty the Term); or (30b) day period, Tenant may at its election bring an action for damages against Landlord on account thereofto recover such costs, fees and expenses, and reasonable attorneys’ fees incurred by Tenant in bringing such action for damages. Any liability of Landlord under this Lease is limited solely to its interest in the Building and the Land and to the rents and any proceeds therefrom (including insurance proceeds). In the event Tenant that (A) there is able any material interruption of Tenant’s utility services or access to obtain the Premises, (B) Landlord materially interferes with Tenant’s use of or access to the Premises, (C) Landlord’s breach of this Lease or its activities on the property materially interferes with Tenant’s use of the Premises or (D) there is any other material interruption in Tenant’s use of the Premises (each of the foregoing, a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “JudgmentMaterial Interference”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court), then and only then shall Tenant have beginning on the right 6th Business Day after any such event, Rent will xxxxx in proportion to offset the Judgment Amount against square footage of the Premises affected until the problem is corrected, provided that, if any such Material Interference continues for more than 180 days (which may be extended for Force Majeure up to twenty30 days), then Tenant may terminate this Lease on 30 days’ notice, provided that such termination will be null and void if the Material Interference is cured within such 30-five percent (25%) day period. Notwithstanding the foregoing sentence, if the Material Interference is not due to the actions, omissions, or negligence of any monthly installment of Basic Landlord Party, then Rent next due Landlord will not xxxxx; provided that if any such Material Interference continues for more than 270 days (which may be extended for Force Majeure up to 30 days), then Tenant may terminate this Lease on 30 days’ notice, provided that such termination will be null and any succeeding monthly installments of Basic Rent until fully satisfied from void if the Material Interference is cured within such offset30-day period.
Appears in 1 contract
Samples: Lease Agreement
Default by Landlord. In the event of any breach, default or noncompliance hereunder by Landlord, Tenant shall, before exercising any right or remedy provided herein or by law, give Landlord written notice of the claimed breach, default or noncompliance and if prior to its giving such notice to the Landlord, Tenant has been notified in writing (by way of any notice of assignment of rents and leases, or otherwise) of the address of the holder of any mortgage, trust deed or other security agreement then affecting Landlord's interest in the Building, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such holder. For the 30 days following the giving of the notice(s) required by the foregoing portion of this section (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within 30 days), Landlord shall not be in default hereunder unless Landlord fails have the right to perform cure the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee breach, default, or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein noncompliance involved. If Landlord has failed to perform cure a default on its part within that period, the aforesaid holder shall have an additional 30 days within which to cure the same or, if such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall default cannot be in default cured within that period, such additional time as may be necessary if Landlord commences performance within such thirty (30) 30 day period the holder has commenced and thereafter is diligently prosecutes pursuing the same actions or remedies necessary to completion. In no cure the breach, default, or noncompliance involved (including but not limited to commencement and prosecution of proceedings to foreclose the mortgage, hold a trustee's sale or otherwise, if necessary to effect such cure), in which event shall Tenant have the right to terminate this Lease as a result may not be terminated by Tenant while such actions or remedies are being diligently pursued by the holder. If, at the expiration of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything the applicable period(s) provided for in this Lease to the contraryParagraph, under no circumstances shall Landlord be liable hereunder to such default, breach or noncompliance has not been cured, Tenant for may exercise any consequential damages available right or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damagesremedy. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary Nothing contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant Section 18.8 shall be permitted deemed to perform such repair and/or maintenance impose any obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers any lender to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such correct or cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetcondition.
Appears in 1 contract
Samples: Assignment and Extension of Lease (Caldera Systems Inc)
Default by Landlord. The failure of Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required any obligation of Landlord within thirty (30) days after written as set forth in this Lease shall be an event of default by Landlord. In the event of any alleged default on the part of Landlord, Tenant shall give notice by Tenant to Landlord and afford Landlord a reasonable opportunity to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform cure such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completiondefault. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies Such notice shall be limited to any other remedy available at law or ineffective unless a copy is simultaneously also delivered in equity; provided, however, notwithstanding anything the manner required in this Lease to any holder of a mortgage and/or deed of trust affecting all or any portion of the contraryPremises (collectively, under "Mortgagee"), provided that prior to such notice Tenant has been notified (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of a Mortgagee. If Landlord fails to cure such default within the time provided, then Mortgagee shall have an additional 30 days following a second notice from Tenant or, if such default cannot be cured within that time, such additional time as may be necessary provided within such 30 days, Mortgagee commences and diligently pursues a cure (including commencement of foreclosure proceedings if necessary to effect such cure). Tenant's sole remedy will be equitable relief or actual damages but in no circumstances shall event is Landlord be liable hereunder to Tenant or any Mortgagee responsible for any consequential damages or for loss of business, revenue, income or profits and lost profit incurred by Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If a Mortgagee, or transferee under such Mortgage (hereafter defined), succeeds to Landlord's interest as a result of foreclosure or otherwise, Tenant shall thereafter have the same remedies against such Mortgagee or transferee for breach of the Lease that Tenant might have had against Landlord fails if such Mortgagee or transferee had not succeeded to the interest of Landlord; provided, however, in no event shall such party be: (i) liable to Tenant for any damages arising against Landlord; (ii) bound by any amendment (including an agreement for early termination) without its consent made at any time after notice to Tenant that such Mortgage requires such consent; and (iii) bound by payment of Rent in advance for more than 30 days. Tenant agrees to pay such amount prior Rent (and will receive credit under this Lease) as directed in any Mortgagee's notice of Landlord's default under the Mortgage reciting that Mortgagee is entitled to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetcollect Rent.
Appears in 1 contract
Default by Landlord. It is agreed that in the event Landlord fails or refuses to perform any of the provisions, covenants or conditions of this Lease on Landlord's part to be kept or performed, that Tenant, prior to exercising any right or remedy Tenant may have against Landlord on account of such default, shall give a twenty (20) day written notice to Landlord of such default, specifying in said notice the default with which Landlord is charged. Notwithstanding any other provision hereof, Tenant agrees that if the default complained of in the notice provided for by this Section is of such a nature that the same can be rectified or cured by Landlord, but cannot with reasonable diligence be rectified or cured within said twenty (20) day period, then such default shall be deemed to be rectified or cured if Landlord within said twenty (20) day period shall commence the rectification and curing thereof and shall continue thereafter with all due diligence to cause such rectification and curing to proceed and so does complete the same, with the use of diligence as aforesaid. The liability of Landlord to Tenant for any default by Landlord under the terms of this Lease shall be limited to the lesser of: (i) the interest of Landlord in the Demised Premises; or (ii) the interest Landlord would have in the Demised Premises if the Demised Premises were encumbered by third party debt in an amount equal to eighty percent (80%) of the value of the Demised Premises (as such value is determined by Landlord) and Tenant agrees to look solely to such amount for recovery of any judgment from Landlord, it being intended that Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be personally liable hereunder to Tenant for any consequential damages judgment or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetdeficiency.
Appears in 1 contract
Default by Landlord. In no event shall Landlord shall not be deemed to be in default of any obligation hereunder unless Landlord fails to perform the obligations required of Landlord within and until thirty (30) days have expired after written delivery of notice by Tenant of such deficiency to Landlord and to anyone else, or to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein lien holder, to whom Landlord has failed instructed Tenant to perform such obligationsend duplicative notices, specifying in detail Landlord's failure to perform, to Landlord and to the holder of any recorded interest pertaining to the Building; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (deficiency cannot be cured or corrected within such 30) days is required for performance, then -day period Landlord shall not be in default if Landlord or anyone on behalf of Landlord commences performance such cure or correction within such thirty (30) -day period and thereafter diligently prosecutes the same to completion. In no event If Landlord is deemed to be in default under the provisions of this Subsection, Tenant shall Tenant have be entitled to bring an action for declaratory judgment or specific performance, or for damages (subject to the right to terminate provisions of this Lease as a result of limiting Landlord’s 's liability) shown by Tenant to have been proximately caused by such default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails Tenant agrees that, in the event that it becomes entitled to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided abovereceive damages from Landlord, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given allowed to recover from Landlord unless consequential damages or damages in excess of the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELFout-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure of-pocket expenditures incurred by Tenant as a result of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with Landlord. Landlord's liability to Tenant for damages resulting from Landlord's breach of any provision or provisions of Subparagraph 14(bthe Lease shall not exceed the value of Landlord's equity interest in the Facility. Tenant hereby expressly waives its rights under any and all Laws, now or hereafter in effect, to terminate this Lease (whether prior to or after the commencement of the Term) or to withhold any payment owed by Tenant under this Lease, on account of any damage, condemnation, destruction, or state of disrepair of the Premises, or any part thereof, it being the parties' intent that the provisions of this Lease. Xxxxxxxx agrees Lease shall govern the parties' rights and obligations with respect to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetmatters.
Appears in 1 contract
Samples: Virage Inc
Default by Landlord. In the event of any default by Landlord, Tenant's exclusive remedy shall be an action for damages (Tenant hereby waiving the benefit of any laws granting to it a lien upon the property of Landlord and/or upon Rent due Landlord), but prior to any such action Tenant will give Landlord written notice specifying such default with particularity, and Landlord shall thereupon have thirty (30) days in which to cure such default or to commence to cure such default if any such default cannot be cured within such 30-day period, in default hereunder unless which event Landlord shall prosecute such cure with diligence to a conclusion. Unless and until Landlord fails to so cure or proceed with diligence to cure any default after such notice, Tenant shall not have any remedy or cause of action by reason thereof. All obligations of Landlord hereunder will be construed as covenants, not conditions; and all such obligations will be binding upon Landlord only during the period of its ownership of the Shopping Center and not thereafter. In the event Landlord fails to cure its default within the time period set forth herein, Tenant may, at its option (in addition to all other rights and remedies provided Tenant at law, in equity or under this Lease), upon written notice to Landlord of Tenant's intention to exercise its self-help remedies hereunder, incur any reasonable expense necessary to perform the obligations required obligation of Landlord specified in such notice and bill Landlord for the cost thereof. If Landlord has not reimbursed Texxxx within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statementTenant's bill, for all Tenant may deduct the reasonable cost of such expense from the Xxxxmum Guaranteed Rent and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to Additional Charges next becoming due after the expiration of such said thirty (30) day period. The self-help option given in this Section is for the sole protection of Tenant, and its existence shall not release Landlord from its obligation to perform the terms, provisions, covenants and agreements herein provided to be performed by Landlord or deprive Tenant of any legal rights which it may have by reason of any such default by Landlord. Notwithstanding the foregoing, Tenant may at its election bring an action for damages against Landlord on account thereof. In shall not deduct more than one-quarter of the event Tenant is able to obtain a unappealable monetary judgment against Landlord Minimum Guaranteed Rental from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due thereof if there are sufficient months remaining in the Lease Term to enable Tenant to fully recover the amount owed by Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetpursuant hereto.
Appears in 1 contract
Samples: Center Lease Agreement (Conns Inc)
Default by Landlord. Landlord shall not be deemed to be in default hereunder unless of this Lease if Landlord fails to perform make any payments to Tenant required under this Lease and such failure continues for ten (10) days after written notice from Tenant to Landlord, or if Landlord shall be in default in the obligations required prompt and full performance of Landlord within any other of its promises, covenants or agreements contained in this Lease and such default in performance continues for more than thirty (30) days after written notice by thereof from Tenant to Landlord and to any Mortgagee specifying the particulars of such default or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligationbreach of performance; provided, however, that if the default complained of, other than for the payment of monies, is of such a nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall the same cannot be in default if Landlord commences performance rectified or cured within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, then such default shall be deemed to be rectified or cured if Landlord, within such thirty (30) day period, shall have commenced such cure and shall continue thereafter with due diligence to cause such cure to be completed. Upon any default of this Lease by Landlord, Tenant may shall be entitled to pursue any and all remedies available to Tenant at its election bring an action for damages against Landlord on account thereoflaw or in equity. In Notwithstanding the event foregoing, Tenant’s notice under this Section 21 shall be ineffective unless a copy is simultaneously also delivered in the manner required in this Lease to any Mortgagee, provided that prior to such notice Tenant is able to obtain has been notified (in accordance with Section 29 herein), of the address of a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Mortgagee. If Landlord fails to pay cure such default within the amount of such Judgment (the “Judgment Amount”) within time provided, then Mortgagee shall have an additional thirty (30) days following entry a second notice from Tenant or, if such default cannot be cured within that time, such additional time as may be reasonably necessary, provided within such thirty (30) days Mortgagee commences and diligently pursues a cure (including commencement of foreclosure proceedings if necessary to effect such Judgment cure). Tenant’s sole remedy will be equitable relief or actual damages but in no event is Landlord or any Mortgagee responsible for consequential damages or lost profit incurred by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) as a result of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetdefault by Landlord.
Appears in 1 contract
Samples: Lease (Constant Contact, Inc.)
Default by Landlord. Landlord shall not be considered to be in default in the performance of any obligation to be performed by Landlord under this Lease unless (a) Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after the date of delivery of written notice of such failure by Tenant to Landlord; provided, however, that if such failure cannot reasonably be cured within said thirty (30) day period (other than Landlord’s payment of any monetary obligation to Tenant), Landlord shall not be in default hereunder unless Landlord fails to perform commence the obligations required cure of Landlord said failure as soon as reasonably practicable under the circumstances, or fails diligently to pursue the same to completion; and (b) each Holder of whose identity Tenant has been notified in writing shall have failed to cure such default within thirty (30) days (or such longer period of time as may be specified in any written agreement between Tenant and such Holder regarding such matter) after receipt of written notice by from Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty failure to cure within the time periods provided above (30) days is required for performance, then a “Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completionDefault”). In no the event of a Landlord Default, Tenant shall use reasonable efforts to mitigate its damages and losses arising from any such Landlord Default and Tenant have the right may pursue any and all remedies available to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available it at law or in equity; provided, however, notwithstanding anything in no event shall Tenant claim a constructive or actual eviction or that the Premises have become unsuitable or untenantable prior to a Landlord Default and failure to cure by Landlord and its Holder under this Lease and, further, in no event shall Tenant be entitled to the contraryreceive more than its actual direct damages arising from any Landlord Default, it being agreed that for all purposes under no circumstances shall Landlord be liable hereunder to this Lease, Tenant waives any claim it otherwise may have for any special or consequential damages or for any damages attributable to lost profits or revenue or loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted interruption to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetoperations.
Appears in 1 contract
Samples: Office Lease Agreement (Velti PLC)
Default by Landlord. Except if a shorter time period is specifically otherwise provided in this Lease, including, without limitation, in SECTION 10.5 hereof, if (i) Landlord shall not default in the observance or performance of any material obligation on Landlord's part to be in observed or performed under or by virtue of any of the terms or provisions of this Lease, and (ii) Tenant shall notify Landlord of the existence of said default, and (iii) said default hereunder unless Landlord fails to perform the obligations required shall continue for a period of Landlord within thirty (30) days after written said notice by Tenant to Landlord and to any Mortgagee or, if such observance or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall performance cannot be in default if Landlord commences performance reasonably had within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law period, Landlord has not in good faith commenced such observance or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default performance within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within said thirty (30) days following Xxxxxxxx’s receipt of a written statementday period or does not prosecute the same with reasonable diligence to completion, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to (iv) after the expiration of such thirty (30) day or longer period, as applicable, Tenant may, in addition to other remedies provided herein, (a) give Landlord a notice stating that Tenant will commence the performance of such obligation if Landlord does not so commence the observance or performance of the same within three (3) days and Landlord does not so commence such observance or performance within such three (3) day period, then Tenant may (but shall not be obligated) immediately or at its election bring an action for damages against any time thereafter and without further notice perform the obligation of Landlord on account thereof. In the event hereunder or (b) give Landlord notice that Tenant is able to obtain a unappealable monetary judgment against terminating the Lease based on Xxxxxxxx's material default which termination shall be effective upon no less than forty-five (45) days after receipt by Landlord from a court of competent jurisdiction said notice. If Tenant, in connection with said action (any such default by Landlord, makes any expenditure or incurs any obligations for the “Judgment”) and payment of money, such reasonable sums so paid or incurred, together with interest thereon at the Agreed Rate from the date Tenant pays or incurs such sums to the date Landlord fails reimburses Tenant therefor, shall be repaid by Landlord to pay the amount of such Judgment (the “Judgment Amount”) Tenant within thirty (30) days following entry of such Judgment by after demand or Tenant may set off the court, then and only then shall Tenant have amount thereof together with accrued interest thereon at the right to offset Agreed Rate against the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly or installments of Basic Rent Rent, Additional Rent, or other amounts due from Tenant to Landlord coming due hereunder until fully satisfied from such offsetamount is exhausted.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Ocwen Asset Investment Corp)
Default by Landlord. Landlord It shall not be in an event of default hereunder unless under this Lease if Landlord fails to perform the obligations required of Landlord any material term or condition under this Lease within thirty (30) days after receipt of written notice by from Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; the failure, provided, however, that if such failure is of such a nature that Landlord cannot reasonably cure the nature of Landlord’s obligation is same within such that more than thirty (30) days is required for performanceday period, then Landlord shall not no such failure will be in default deemed to exist if Landlord commences performance to cure the default within such thirty (30) day period and thereafter diligently prosecutes the same to completioncompletion with reasonable diligence (but in no event later than ninety (90) days from the date the notice is received from Tenant unless otherwise agreed upon in writing). In no the event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law an emergency or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform cure or to commence performance and diligently pursue the cure of any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such non-monetary Landlord default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right right, but not the obligation to offset the Judgment Amount against up incur any commercially reasonable cost or make any commercially reasonable expenditure necessary to twenty-five percent (25%) cure Landlord’s default. Landlord shall reimburse Tenant for any such expenditure made or such cost incurred. Any sums due Tenant from Landlord under this Section may be deducted from amounts due or to become due to Landlord under this Lease, or Tenant may seek recovery from Landlord for all such expenses incurred. Without limiting any of any monthly installment of Basic Rent next due Tenant’s rights and remedies hereunder, and in addition to all other amounts Landlord is otherwise obligated to pay, Tenant shall be entitled to recover from Landlord all reasonable costs and any succeeding monthly installments of Basic Rent until fully satisfied expenses, including reasonable attorney fees, incurred by Tenant in enforcing this Lease from such offsetand after a Landlord default subject to Landlord’s cure rights as set forth above.
Appears in 1 contract
Samples: Solar Lease Agreement
Default by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of by Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust covering the Premises or ground lessor of the Premises whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, provided however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for performance, performance then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In Tenant further agrees that if Landlord shall have failed to cure such default within such time period as set forth hereinabove, then the holder of the mortgage or deed of trust covering the Premises and/or the ground lessor of the Premises shall have an additional thirty (30) days within which to cure such default after the Landlord's cure period specified hereinabove, or if such default cannot be cured within that time, then such additional time as may be necessary if within such additional thirty (30) day period any such holder of the mortgage or deed of trust and/or ground lessor has commenced and is diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary, to effect such cure). Notwithstanding any provision of this Lease to the contrary, in no event shall Tenant have the right to terminate this Lease as a result of Landlord’s 's default; Xxxxxx’s , and Tenant's remedies shall be limited to any other remedy available at law or in equity; provideddamages and/or injunction, however, notwithstanding anything in this Lease subject to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided restrictions in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetSection 48below.
Appears in 1 contract
Default by Landlord. Landlord If LANDLORD shall (i) fail to comply with any term, condition or covenant of this Lease that is required to be performed or observed by LANDLORD, or (ii) breach any of its representations and warranties set forth in this Lease, or if A&M SYSTEM is unable to use the Premises for more than 30 consecutive calendar days due to any law or any order, rule, or regulation of any competent governmental authority, and LANDLORD shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord cure or correct such failure, breach or condition within thirty (30) 30 days after receipt of written notice from A&M SYSTEM to LANDLORD (or, in the case of an emergency, within 24 hours after receipt of written or telephonic notice thereof given by Tenant A&M SYSTEM to Landlord LANDLORD), or, if such failure, breach or condition (other than an emergency situation as aforesaid) cannot reasonably be cured within said 30 day period, LANDLORD shall not have commenced to cure such failure or breach within said 30 days and shall not thereafter with reasonable diligence and in good faith proceed to any Mortgagee cure such failure or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performancebreach, then Landlord shall not be A&M SYSTEM, in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited addition to any other remedy available at provided by law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of may terminate this Lease and does not all of A&M SYSTEM’s obligations hereunder by giving written notice thereof to LANDLORD or, without being obligated to do so, A&M SYSTEM may cure or correct such default within or breach for the time period provided aboveaccount of LANDLORD, then Tenant in which event all amounts expended or incurred by A&M SYSTEM (including reasonable attorneys' fees), together with interest thereon at the maximum rate of interest permitted by applicable law from the date of advancement until repaid, shall be permitted due and payable by LANDLORD to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business A&M SYSTEM within 10 days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlordafter demand. If Landlord LANDLORD fails to pay such any amount prior to due with the expiration of such thirty (30) 10-day period, Tenant A&M SYSTEM may at its election bring an action for damages against Landlord on account thereof. In deduct such amounts from the rent due or to become due hereunder (in such order and manner as A&M SYSTEM may elect), and/or terminate this Lease by giving written notice thereof to LANDLORD, in which event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court all rent shall be apportioned as of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courteffective termination date, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from rent paid for any period beyond such offsetdate and all other prepaid charges paid by A&M SYSTEM to LANDLORD shall be refunded to A&M SYSTEM.
Appears in 1 contract
Samples: Agreement for Lease of Space
Default by Landlord. Landlord shall not be considered to be in default in the performance of any obligation to be performed by Landlord under this Lease unless (a) Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after the date of delivery of written notice of such failure by Tenant to Landlord (which notice shall be delivered concurrently to any Holder of whose identity Tenant has been notified in writing); provided, however, that if such failure cannot reasonably be cured within said thirty (30) day period (other than Landlord’s payment of any monetary obligation to Tenant), Landlord shall not be in default hereunder unless Landlord fails to perform commence the obligations required cure of said failure as soon as reasonably practicable under the circumstances, or fails diligently to pursue the same to completion; and (b) each Holder of whose identity Tenant has been notified in writing shall have failed to cure such default within the time periods provided above (provided that, in the case of any default of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall which cannot be in default if Landlord commences performance cured within such thirty (30) day period, if Lender shall within such period proceed to cure the same [including such time as may be necessary to acquire possession of the Premises if possession is necessary to effect such cure] and thereafter diligently prosecutes shall prosecute the same curing of such default, then the time within which such default may be cured by Holder shall be extended for such period as may be reasonably necessary to completioncomplete the curing of the same) (a “Landlord Default”). In no the event of a Landlord Default, Tenant shall use reasonable efforts to mitigate its damages and losses arising from any such Landlord Default and Tenant have the right may pursue any and all remedies available to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available it at law or in equity; provided, however, notwithstanding anything in no event shall Tenant claim a constructive or actual eviction or that the Premises have become unsuitable or untenantable prior to a Landlord Default and failure to cure by Landlord and its Holder under this Lease and, further, in no event shall Tenant be entitled to the contraryreceive more than its actual direct damages arising from any Landlord Default, it being agreed that for all purposes under no circumstances shall Landlord be liable hereunder to this Lease, Tenant waives any claim it otherwise may have for any special or consequential damages or for any damages attributable to lost profits or revenue or loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted interruption to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetoperations.
Appears in 1 contract
Samples: Office Lease Agreement (Turo Inc.)
Default by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is are required for performanceits cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. Except to the extent that Tenant obtains a final judgment of constructive eviction in accordance with Florida law or as otherwise permitted by applicable Florida law, in no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx, and Tenant’s remedies shall be limited to any other remedy available at law damages and/or an injunction. This Lease and the obligations of Tenant hereunder shall not be affected or in equity; provided, however, notwithstanding anything in this Lease impaired because Landlord is unable to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform fulfill any of its repair and/or maintenance obligations under Subparagraph 13(b) hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord’s performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease and does not cure such default within or the time period provided above, then Tenant negotiations which preceded this Lease shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expensebarred unless Tenant commences an action thereon, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure or interposes a defense by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenantreason thereof, within thirty one (301) days following Xxxxxxxx’s receipt year after the date of a written statementthe inaction, for all reasonable and actual costs incurred by Xxxxxx in performing omission, event or action that gave rise to such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodclaim, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courtdemand, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetor defense.
Appears in 1 contract
Samples: Office Lease (Ladenburg Thalmann Financial Services Inc)
Default by Landlord. In the event of any alleged default on the part of Landlord hereunder, Tenant shall give written notice to Landlord in the manner herein set forth and shall afford Landlord a reasonable opportunity to cure any such default. Notice to Landlord of any such alleged default shall be ineffective unless notice is simultaneously delivered to any holder of a mortgage or Deed of Trust affecting all or any portion of the Premises (“Mortgagee”), as hereafter provided. Tenant agrees to give all Mortgagees, by certified mail, return receipt requested, a copy of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified, in writing (by way of notice of assignment of rents and Leases, or otherwise), of the address of such Mortgagees. Tenant further agrees that if Landlord shall not be have failed to cure such default within the time provided for in default hereunder unless Landlord fails to perform this Lease, then the obligations required of Landlord within Mortgagees shall have an additional thirty (30) days after written notice by Tenant within which to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform cure such obligation; provideddefault or, however, if such default cannot be cured within that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performancetime, then Landlord shall not such additional time as may be in default if Landlord commences performance necessary, if, within such thirty (30) day period days, any Mortgagee has commenced and thereafter is diligently prosecutes pursuing the same remedies necessary to completioncure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being so diligently pursued. In no event shall will Landlord or any Mortgagee be responsible for any consequential damages incurred by Tenant as a result of any default, including, but not limited to, lost profits or interruption of business as a result of any alleged default by Landlord hereunder. Tenant will not have the any right to terminate this Lease as unless a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or final, nonappealable judgment granting such termination is entered in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetfavor.
Appears in 1 contract
Samples: For (Sirenza Microdevices Inc)
Default by Landlord. Landlord shall not be in default hereunder unless In the event Landlord fails or refuses to perform any of the obligations required provisions, covenants or conditions of this Lease on Landlord's part to be kept or performed, Tenant, prior to exercising any other right or remedy Tenant may have against Landlord within on account of any such default, shall provide thirty (30) days after written notice by Tenant to Landlord of such default, specifying in reasonable detail the alleged nature of the default and specifically referencing each paragraph and subparagraph which Tenant believes to be in default. Notwithstanding any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; providedother provision hereof, however, Tenant agrees that if the said default is of such a nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall can be limited to any other remedy available at law rectified or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default cured by Landlord under Subparagraph 13(b) above shall but cannot with reasonable diligence be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, rectified or cured within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such said thirty (30) day period, Tenant may at its election bring an action for damages against then such default shall be deemed to be rectified or cured if Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with within said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry day period shall have diligently commenced the rectification or curing thereof and shall diligently continue thereafter to cause such rectification or curing to proceed to completion. In addition, upon any such failure by Landlord, Tenant shall give notice by registered or certified mail to any person or entity with a security interest in the Premises ("Mortgagee") that has provided Tenant with notice of its interest in the Premises, and shall provide Mortgagee a reasonable opportunity to cure such Judgment failure, including such time to obtain possession of the Premises by power of sale or judicial foreclosure, if such should prove necessary to effectuate a cure. Tenant agrees that each of the court, then and only then shall Mortgagees to whom this Lease has been assigned is an expressed third-party beneficiary hereof. Tenant have waives any right under California Civil Code Section 1950.7 or any other present or future law to the right to offset the Judgment Amount against up to twenty-five percent (25%) collection of any monthly installment payment or deposit from Mortgagee or any purchaser at a foreclosure sale of Basic Rent next due Landlord Mortgagee's interest unless Mortgagee or such purchaser shall have actually received and not refunded the applicable payment or deposit. In consideration of the benefits accruing hereunder, Tenant and all successors and assigns covenant and agree that, in the event of any succeeding monthly installments of Basic Rent until fully satisfied from such offset.actual or alleged failure, breach or default hereunder by Landlord:
Appears in 1 contract
Samples: Chicago Pizza & Brewery Inc
Default by Landlord. Landlord shall not be in default hereunder unless If Landlord fails to perform the obligations required perform, comply with or observe any agreement or obligation of Landlord within thirty (30) days under this Lease and the failure continues after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) the cure period described below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s may pursue its remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease if Tenant delivers a second written notice to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any perform, comply with or observe such agreement or obligation within an additional ten (10) Business Days after Landlord’s receipt of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided abovesecond notice, then Tenant shall be permitted have the right upon the expiration of such ten (10) Business Day period, to perform such repair and/or maintenance obligation on or otherwise cure Landlord’s behalf and at Landlord’s sole cost and expensedefault. If Tenant does such work or performs such obligation, provided Landlord agrees that it will reimburse Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Selffor the reasonable out-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Selfof-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, pocket costs thereof within thirty (30) days following Xxxxxxxx’s after receipt of a written statement, for all reasonable notice from Tenant which notice shall include supporting documentation of the work performed and actual the costs incurred by Xxxxxx in performing such obligations on behalf of LandlordTenant. If Landlord fails does not reimburse Tenant within forty-five (45) days after receipt of such written notice from Tenant, then Tenant shall have the right to pay offset an amount not to exceed ten percent (10%) of each monthly installment Gross Rent next coming due under this Lease until Tenant has recouped such amount prior in full, together with interest at the Default Rate accruing from the date Tenant incurs such costs until the date the costs are recouped in full. In the event that Landlord, acting in good faith, disputes either the necessity of the expense or repair, the obligation to make the expiration same or the cost thereof, Tenant’s remedy shall be an action at law or in equity and Tenant shall not be permitted any offsets or deductions from rent. As used above, Landlord’s cure period shall be thirty (30) calendar days after Tenant has delivered to Landlord written notice of the failure specifically describing the failure or such longer period as reasonably necessary to cure such failure, provided that Landlord commences to cure such failure within said thirty (30) day periodperiod and thereafter diligently pursues such cure to completion, Tenant may at its election bring an action for damages against Landlord on account thereof. In the but in no event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action more than sixty (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (3060) days following entry after receipt of such Judgment by Tenant’s notice. Notwithstanding anything herein to the courtcontrary, then and only then in no event shall Tenant have be permitted to make structural repairs to the right to offset Premises, the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetBuilding or the Complex.
Appears in 1 contract
Samples: Office Lease Agreement (Cray Inc)
Default by Landlord. In the event of any alleged default on the part of Landlord hereunder, Tenant shall give written notice to Landlord in the manner herein set forth and shall afford Landlord a reasonable opportunity to cure any such default. Notice to Landlord of any such alleged default shall be ineffective unless notice is simultaneously delivered to any holder of a Mortgage and/or Trust Deed affecting all or any portion of the Building Complex ("Mortgagees"), as hereafter provided. Tenant agrees to give all Mortgagees, by certified mail, return receipt requested, a copy of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified, in writing (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of such Mortgagees. Tenant further agrees that if Landlord shall not be have failed to cure such default within the time provided for in default hereunder unless Landlord fails to perform this Lease, then the obligations required of Landlord within Mortgagees shall have an additional thirty (30) days after written notice by Tenant within which to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform cure such obligation; provideddefault or, however, if such default cannot be cured within that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performancetime, then Landlord shall not such additional time as may be in default if Landlord commences performance necessary, if, within such thirty (30) day period days, any Mortgagee has commenced and thereafter is diligently prosecutes pursuing the same remedies necessary to completioncure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being so diligently pursued. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall will Landlord or any Mortgagee be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant responsible for any consequential damages or for loss of business, revenue, income or profits and incurred by Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Leasedefault, if Landlord fails to perform including, but not limited to, lost profits or interruption of business as a result of any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a alleged default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsethereunder.
Appears in 1 contract
Samples: Exactis Com Inc
Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within a reasonable time, but in no event earlier than thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee first mortgage or Ground Lessor (as defined in Subparagraph 34(m) below) in writing deed of trust covering the Premises specifying wherein Landlord has failed to perform such obligationobligations; provided, however, that if the nature of Landlord’s obligation 's obligations is such that more than thirty (30) days is are required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In If Landlord is in default of this lease, Tenant's sole remedy shall be to institute suit against Landlord in a court of competent jurisdiction and Tenant shall have no event shall Tenant have the right to terminate this Lease offset any sums expended by Tenant as a result of Landlord’s default; Xxxxxx’s remedies shall be limited 's default against future rent and other sums due and payable pursuant to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlordlease. If Landlord fails to pay such amount prior to the expiration is in default of such thirty (30) day periodthis lease, and as a consequence Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain recovers a unappealable monetary money judgment against Landlord, the judgment shall be satisfied only out of the proceeds of sale received on execution of the judgment and levy against the right, title and interest of Landlord in the Project of which the Premises are a part, and out of rent or other income from such real property receivable by Landlord or out of the consideration received by Landlord from the sale or other disposition of all or any part of Landlord's right, title and interest in the Project of which the Premises are a court part. Neither Landlord nor any of competent jurisdiction in connection with said action (the “Judgment”) and partners, comprising the partnership designated as Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of be personally liable for any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetdeficiency.
Appears in 1 contract
Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty a reasonable time, but in no event later than (30) days after receipt of written notice by Tenant to Landlord and to the holder of any Mortgagee first mortgage or Ground Lessor (as defined deed of trust covering the Premises whose name and address shall have heretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligationobligations; provided, however, that if the nature of Landlord’s obligation obligations is such that more than thirty (30) days is are required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; providedLandlord shall, however, notwithstanding anything in this Lease make a reasonable effort to take immediate action on an emergency situation that impairs (i) the contrarysafety of the Building and/or (ii) the occupancy of the Building. Multi Tenant/Single Parcel Page 32 of 55 Initial: /S/ JA; RP; VP In the event during the Term of the Lease, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages Xxxxxxx X. Xxxxx Separate Property Trust or for loss Xxxx Xxxxxxxxx Survivor’s Trust and/or their affiliates and/or members of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided their respective families do not have an interest in the immediately succeeding paragraphPremises lease herein, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, then if Landlord fails to perform any of its repair and/or maintenance material obligations under Subparagraph 13(b) of this Lease Lease, and does provided the work to be performed by Landlord was not cure caused by Tenant and/or Landlord’s delay was not caused and/or contributed to by Tenant, and such default within failure materially affects Tenant’s ability to reasonably use and occupy the time period provided abovePremises for the purposes permitted herein, then Tenant shall be permitted have the right, but not the obligation, to perform such repair and/or maintenance obligation on obligations of Landlord if such failure continues for more than thirty (30) days after written notice from Tenant; provided, however, that if the nature of the Landlord’s behalf obligations is such that more than thirty (30) days are required to complete the same, Landlord shall have such additional time as is reasonably necessary to complete such obligations so long as Landlord takes appropriate action to commence the performance of the same within such thirty (30) day period and at thereafter diligently pursues such obligations to completion. In such event, Landlord shall reimburse Tenant for the reasonable out of pocket costs incurred and paid by Tenant to third parties to complete such Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, obligations within thirty (30) days following Xxxxxxxx’s after receipt of a Tenant’s written statement, for all reasonable and actual costs demand therefor. If Landlord objects to the work performed or the expenses incurred by Xxxxxx Tenant in performing such obligations on behalf work, Landlord shall deliver a written notice of Landlord’s objection to Tenant evidencing the expenses incurred by Tenant. If Landlord fails to pay Landlord’s notice shall set forth in reasonable detail Landlord’s reasons for its claim that such amount prior to work was not required or was not Landlord’s obligation under the expiration terms of this Lease and/or the reasons for Landlord’s dispute of the expenses incurred by Tenant in performing such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetwork.
Appears in 1 contract
Default by Landlord. Landlord Sub-Sublandlord shall not be in default hereunder unless Landlord fails liable to Sub-Subtenant for Landlord's failure to perform any of Landlord's obligations under the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee Prime Lease or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed for Sublandlord's failure to perform such obligation; providedany of Sublandlord's obligations under the Sublease, however, that if the nature nor shall Sub-Sublandlord have any obligation to perform same or to bring legal proceedings or take any other action against Landlord to assure performance of Landlord’s obligation is such that more than thirty (30) days is required for performance's obligations under the Prime Lease or against Sublandlord to assure performance of Sublandlord's obligations under the Sublease nor shall the Landlord's failure to perform any of Landlord's obligations under the Prime Lease or Sublandlord's failure to perform any of Sublandlord's obligations under the Sublease affect Sub-Subtenant's duty to fulfill its obligations under this Sub-Sublease, then Landlord including without limitation, the duty to pay Rent to Sub-Sublandlord hereunder. Except as otherwise provided herein, whenever Sub-Sublandlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this enforce any rights against Landlord, Sublandlord or any other party under the Prime Lease as a result or Sublease because of the default or breach of Landlord’s default; Xxxxxx’s remedies shall be limited to any , Sublandlord or such other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease party with respect to the contraryPremises, under no circumstances shall Landlord be liable hereunder Sub-Sublandlord shall, at Sub-Subtenant's expense paid in advance, give notice to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any Sublandlord requesting Sublandlord enforce such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations right on behalf of Landlord. If Landlord itself, Sub-Sublandlord and Subtenant and if, within a reasonable period after Sub-Subtenant's request, Sublandlord fails to pay enforce such amount prior rights, then, provided Sub-Subtenant is not in default under this Sub-Sublease, Sub-Subtenant shall have the right, in the name of Sub-Subtenant or, if necessary, in the name of Sub-Sublandlord, to enforce any such rights of Sub-Sublandlord with respect to the expiration Premises. Such enforcement shall be at the sole expense of Sub-Subtenant, and Sub-Subtenant shall indemnify Sub-Sublandlord (and shall indemnify Sublandlord if such thirty (30) day period, Tenant may at its election bring an action for damages enforcement involves a proceeding against Landlord on account thereof. In the event Tenant is able by Sub-Subtenant) against all costs and expenses, including but not limited to obtain a unappealable monetary judgment reasonable attorneys' fees, which may be incurred by Sub-Sublandlord (and Sublandlord if proceedings against Landlord from a court of competent jurisdiction Landlord) in connection with said action (the “Judgment”) and Landlord fails to pay the any claim, action, or proceeding so undertaken by Sub-Subtenant. Any amount of such Judgment (recovery obtained by Sub-Subtenant shall be the “Judgment Amount”) within thirty (30) days following entry property of Sub-Subtenant, except that Sub-Sublandlord shall be compensated therefrom for any damages sustained by Sub-Sublandlord as a consequence of such Judgment by default or breach on the courtpart of Sublandlord, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from or such offsetother party.
Appears in 1 contract
Samples: Sub Sublease (Ipayment Inc)
Default by Landlord. If Landlord fails to timely perform any of its obligations under this Lease, which failure continues for a period of more than thirty (30) days after receipt of written notice from Tenant specifying such failure, or if such failure is of a nature that it cannot be cured within said thirty (30) day period and continues beyond the time reasonably necessary to cure (and Landlord has not commenced cure within the initial thirty (30) day cure period and thereafter diligently pursued cure to completion), then Landlord shall not be in default hereunder unless Landlord fails under this Lease and Tenant, subject to perform the obligations required terms of Section 23 of this Lease, shall have the right to cure such default for and on behalf of Landlord and collect the reasonable costs of cure from Landlord, and if Landlord does not pay any such reasonable costs of cure incurred by Tenant within thirty (30) days after receipt of written notice demand for payment (together with backup reasonably required by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform substantiating such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performancecosts incurred), then Landlord shall not be in default if Landlord commences performance within Tenant may offset such thirty (30) day period and thereafter diligently prosecutes past due amounts against the same to completion. In no event shall Tenant have the right to terminate this Lease as a result next installments of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent Base Rent coming due hereunder as a result of any default by Xxxxxxxxhereunder. Notwithstanding anything to the contrary contained in this Lease, Tenant shall not deduct more than fifty percent (50%) of the Base Rent from any monthly installment of Base Rent if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) there are sufficient months remaining in the term of this Lease within which to fully recover the amount owed by Landlord (the “Maximum Offset Amount”). If the default by Landlord is such as to constructively evict or effectively dispossess Tenant, or substantially destroy Tenant’s right to quiet enjoyment, Tenant shall have the right to invoke any and does not all rights and remedies Tenant may have at law and in equity; or the option to exercise any other rights or remedies which Tenant may have at law or equity. Notwithstanding the foregoing, the notice and cure such default within the time period provided above, then Tenant to Landlord above shall be permitted not apply to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided obligation to timely deliver the Premises as required under this Lease. If Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant makes any advances because of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, landlord not cured within thirty (30) days following Xxxxxxxx’s receipt of a written statementafter notice from Tenant, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails is obligated to pay such amount prior to repay the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the full amount of such Judgment advances, together with interest on the amount advanced at the rate of interest set forth in Section 35.I. (12% annum or the “Judgment maximum rate of interest permitted by law). No remedy herein or otherwise conferred upon or reserved to Tenant shall be considered to exclude or suspend any other remedy but the same shall be cumulative and shall be in addition to every other remedy given hereunder, or now or hereafter existing at law or in equity or by statute, and every power and remedy given by this Lease to Tenant may be exercised from time to time and so often as occasion may arise or as may be deemed expedient, and no remedy required herein shall supercede the Tenant’s limitation to deduct more than the Maximum Offset Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offset.
Appears in 1 contract
Default by Landlord. Landlord In the event of any alleged default on the part ------------------- of Landlord, Tenant shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written give notice by Tenant to Landlord and afford Landlord a reasonable opportunity to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed commence to perform cure such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same proceed with due diligence to completioncure such default. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies Such notice shall be limited to any other remedy available at law or ineffective unless a copy is simultaneously also delivered in equity; provided, however, notwithstanding anything the manner required in this Lease to any holder of a mortgage and/or deed of trust affecting all or any portion of the contraryBuilding Complex (collectively, under "Mortgagee"), provided that prior to such notice Tenant has been notified (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of a Mortgagee. If Landlord fails to cure such default within the time provided, then Mortgagee shall have an additional 30 days following a second notice from Tenant or, if such default cannot be cured within that time, such additional time as may be necessary provided within such 30 days, Mortgagee commences and diligently pursues a cure (including commencement of foreclosure proceedings if necessary to effect such cure). Tenant's sole remedy will be equitable relief or actual damages but in no circumstances shall event is Landlord be liable hereunder to Tenant or any Mortgagee responsible for any consequential damages or for loss of business, revenue, income or profits and lost profit incurred by Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails a Mortgagee, or transferee under such Mortgage (hereafter defined), succeeds to Landlord's interest as a result of foreclosure or otherwise, such party shall not be: (i) liable for any default, nor subject to any setoff or defenses that Tenant may have against Landlord, (ii) bound by any amendment (including an agreement for early termination) without its consent made at any time after notice to Tenant that such Mortgager requires such consent; and (iii) bound by payment of Rent in advance for more than 30 days. Tenant agrees to pay such amount prior Rent (and will receive credit under this Lease) as directed in any Mortgagee's notice of Landlord's default under the Mortgage reciting that Mortgagee is entitled to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetcollect Rent.
Appears in 1 contract
Samples: 8 Lease Agreement (Digimarc Corp)
Default by Landlord. Landlord shall not be in default hereunder unless if Landlord (i) fails to perform or observe any covenant, warranty, condition or agreement in this Lease to be performed or observed by Landlord or (ii) fails to pay any real estate taxes or any other charge when such payments are required to be paid by Landlord which shall become a lien upon the Premises, and if Landlord fails to perform the obligations required of Landlord cure such default within thirty (30) days after written notice by from Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; providedthe default. Notwithstanding the foregoing, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default under this Lease if the matter in question cannot reasonably be cured within the thirty (30) day period as long as Landlord commences performance to cure the default within such the thirty (30) day period and thereafter continuously diligently prosecutes proceeds to complete the same performance required to completioncure such default. In no event Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall Tenant have the right at any time thereafter to terminate this Lease as a result (i) cure such default for the account of Landlord’s default; Xxxxxx’s remedies , and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be limited to any other remedy available at law deemed paid or in equity; providedincurred for the account of Landlord, however, notwithstanding anything in this Lease to the contrary, under no circumstances and Landlord shall Landlord be liable hereunder to reimburse Tenant for any consequential damages amounts paid upon written demand by Tenant, or for loss (ii) if such default materially and adversely affects Tenant’s use of businessthe Premises, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in may terminate this Lease, if Landlord fails to perform any whereupon all obligations of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant hereunder shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day periodcease. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given may cure any default prior to Landlord unless the same contains expiration of the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt day period described in preceding paragraph, after such notice to Landlord, if the curing of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount default prior to the expiration of such thirty (30) day periodperiod is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant may at to conduct its election bring an action for damages against Landlord on account thereofusual business operations in the Premises. In the event Tenant is able The remedies provided in this Section shall be cumulative to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment those provided elsewhere herein or by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetlaw.
Appears in 1 contract
Samples: Lease Agreement (Gevity Hr Inc)
Default by Landlord. If Landlord shall not be in default hereunder unless Landlord fails from time to perform the obligations required of Landlord within time fail to pay any sum or sums due to Tenant and if such failure continues for thirty (30) days after written receipt of notice from Tenant of such default, then such failure, subject to the immediately succeeding sentence, shall be a “Landlord Payment Default”. Upon the occurrence and continuation of a Landlord Payment Default, Tenant shall have the right and is hereby irrevocably authorized and directed to deduct such sum or sums from Fixed Rent and other sums due Landlord, together with interest thereon at the so-called prime rate charged from time to time by Tenant JX Xxxxxx Chase Bank (or its successors and assigns), plus two percent (2%) until fully reimbursed (the “Default Rate”). If Landlord shall from time to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed time fail to perform any act or acts required of Landlord by this Lease and if such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than failure continues for thirty (30) days after receipt of notice from Tenant of such failure (such failure, subject to the immediately succeeding sentence, a “Landlord Performance Default”), Tenant shall then have the right, in addition to such remedies as may be available under law or in equity, at Tenant’s option, to perform such act or acts, in such manner as Tenant deems reasonably necessary, and the full amount of the cost and expense so incurred shall immediately be owing by Landlord to Tenant, and Tenant shall have the right and is required for performancehereby irrevocably authorized and directed to deduct such amount from Fixed Rent and other sums due Landlord, then Landlord shall together with interest thereon at the Default Rate until fully reimbursed by Landlord. Notwithstanding the foregoing, if such failure, despite commercially reasonable efforts to cure it, cannot be cured in default if Landlord commences performance within such thirty (30) day period days and thereafter Landlord shall in good faith within said thirty (30) days commence to correct such failure, and diligently prosecutes the same proceed therewith to completion. In no event shall Tenant have the right to terminate this Lease as a result completion of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided abovecorrection, then a Landlord Performance Default shall not be deemed to have occurred. If a condition that would constitute a Landlord Performance Default constitutes an imminent threat of harm to Tenant, the Premises or persons upon the Premises, Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf take immediate curative action and Landlord shall reimburse Tenant the costs thereof, plus interest at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two the Default Rate (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided or if Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt Tenant shall have a right of a written statement, setoff for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodsame); provided, Tenant may at its election bring an shall notify Landlord of the condition and Tenant’s curative action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetas promptly as reasonably possible.
Appears in 1 contract
Default by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for performanceits cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx, and Tenant’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and and/or an injunction. Tenant hereby waives any its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. This Lease and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained obligations of Tenant hereunder shall not be interpreted affected or impaired because Landlord is unable to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform fulfill any of its repair and/or maintenance obligations under Subparagraph 13(b) hereunder or is delayed in doing so, if such inability or delay is caused by reason of strike or other labor problems, acts of God, riot, insurrection, governmental actions or requirements, or any other cause beyond the reasonable control of Landlord, and the time for Landlord's performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease and does not cure such default within or the time period provided above, then Tenant negotiations which preceded this Lease shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expensebarred unless Tenant commences an action thereon, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure or interposes a defense by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenantreason thereof, within thirty six (306) days following Xxxxxxxx’s receipt months after the date of a written statementthe inaction, for all reasonable and actual costs incurred by Xxxxxx in performing omission, event or action that gave rise to such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodclaim, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courtdemand, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetor defense.
Appears in 1 contract
Default by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is are required for performanceits cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. This Lease and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained obligations of Tenant hereunder shall not be interpreted affected or impaired because Landlord is unable to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform fulfill any of its repair and/or maintenance obligations under Subparagraph 13(b) hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord’s performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease and does not cure such default within or the time period provided above, then Tenant negotiations which preceded this Lease shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expensebarred unless Tenant commences an action thereon, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure or interposes a defense by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenantreason thereof, within thirty one (301) days following Xxxxxxxx’s receipt year after the date of a written statementthe inaction, for all reasonable and actual costs incurred by Xxxxxx in performing omission, event or action that gave rise to such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodclaim, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courtdemand, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetor defense.
Appears in 1 contract
Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within a reasonable time, but in no event shall a reasonable time be earlier than thirty (30) days after written notice by Tenant to Landlord (and to the holder of any Mortgagee first mortgage or Ground Lessor (as defined deed of trust covering the Leased Premises whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(mwriting) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is are required for performance, then Landlord shall not be in default if Landlord or the holder of any such mortgage or deed of trust commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event Tenant further agrees not to invoke any of its remedies under this Lease until such thirty (30) days have elapsed. Tenant’s remedies for Landlord’s default hereunder shall be limited to damages and/or an injunction to the extent suitable, and the parties agree that Tenant shall not have the right to terminate this Lease as except in such cases where termination is Tenant’s only suitable remedy. If Landlord shall fail to make a result of Landlord’s default; Xxxxxx’s remedies shall be limited repair Landlord is required to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, perform under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if and Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does shall not cure such default within the time period provided above, then Tenant shall be permitted to perform commence such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt after Tenant gives written notice of such failure, or if Landlord fails to diligently pursue such repair once commenced, then Tenant may perform such repair for the account of and at the expense of Landlord and render a written statement, xxxx to Landlord for all such reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlordexpense. If Landlord fails to pay such amount prior to the expiration of such thirty xxxx within ten (3010) day perioddays after it is rendered, Tenant may at its election bring an suitable legal action for damages against to require Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount xxxx. If the final judgment of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by action determines that Landlord was obligated to make the courtrepair and that Tenant, in making the repair, incurred a reasonable expense, then Tenant, in addition to its normal remedies, shall be entitled to deduct such expenses from payments of rent and only then other charges due or to become due in the future under this Lease. The amount which may be deducted shall Tenant have include interest on the right judgment at the statutory interest rate for judgments from the date of the cure to offset the Judgment Amount against up to twenty-five percent (25%) date of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetpayment.
Appears in 1 contract
Default by Landlord. If Landlord fails to comply with any obligation of Landlord contained in the Lease and such failure continues uncured for a period of thirty (30) days following written notice thereof from Tenant to Landlord, or such longer period as may be reasonable under the circumstances so long as Landlord commences to cure within such thirty (30} day period and thereafter diligently prosecutes such cure to completion (a “Landlord Default”), then Tenant shall have the right to pursue any and all remedies permitted at law (exclusive of consequential, punitive, or special damages) or in equity, including, without limitation, specific performance of Landlord’s obligations under this Lease; provided, however, that unless the default by Landlord renders the Leased Premises unusable for the purposes leased hereunder, Tenant may not seek to terminate this Lease. Notwithstanding anything to the contrary in this Lease, Landlord shall not have any personal liability for any of its obligations as landlord under this Lease except to the extent of its interest in the Project (which interest includes, without limitation, the proceeds of insurance and condemnation). Tenant will not institute, seek or enforce any personal or deficiency judgment against Landlord or any of Landlord’s officers, directors, shareholders or partners or their property, except the Project, which shall be in available to satisfy any such judgment. If Tenant receives a final, nonappealable judgment for damages against Landlord as a result of an uncured default hereunder unless by Landlord fails to perform the obligations required of Landlord under this Lease, which is not satisfied within thirty (30) days after written notice by Tenant to Landlord it becomes final and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performancenonappealable, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant will have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to deduct the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the unpaid amount of such Judgment judgment (plus interest) against the “Judgment Amount”) within thirty (30) days following entry Base Rent and Tenant’s Share of such Judgment by the court, then and only then shall Tenant have the right Operating Costs to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next become due Landlord and any succeeding monthly installments of Basic Rent under this Lease until fully satisfied from such offsetcredited.
Appears in 1 contract
Samples: Garage Lease (Virgin Trains USA LLC)
Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty a reasonable time, but in no event later than Thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee first mortgage or Ground Lessor (as defined deed of trust covering the Premises whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; , provided, however, that if the nature of Landlord’s obligation is such that more than thirty Thirty (30) days is are required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty Thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have Notwithstanding the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Leaseforegoing, if Landlord fails to perform defaults in performing any of its repair and/or and maintenance obligations under Subparagraph 13(b) of to the Premises as expressly stated in this Lease and does such default creates a risk of imminent injury to person or substantial property damage, or unreasonably and materially interferes with Tenant’s ability to conduct its business at the Premises, and Landlord has not cured such default within fifteen (15) business days after Tenant shall have given Landlord written notice specifying such default, and in the case of any such default which cannot with due diligence and in good faith be cured within fifteen (15) business days, within such additional period, if any, as may be reasonably required to cure such default with due diligence and in good faith (it being intended that, in connection with any such default which is not susceptible of being cured with due diligence and in good faith within fifteen (15) business days, the time within which Landlord is required to cure such default shall be extended for such additional period provided aboveas may be necessary for the curing thereof with due diligence and in good faith), then Tenant, without being obligated to do so, shall have the right, but not the obligation, to perform the repair or maintenance obligation to the Premises which Landlord failed to perform. The full amount of the reasonable costs and expenses so incurred by Tenant (the “Reimbursable Costs”) shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default paid by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt after written demand therefor (provided that such written demand is accompanied by reasonable documented evidence of a written statement, for all reasonable and actual costs incurred the Reimbursable Costs). Tenant shall give advance notice by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior telephone to the expiration individual from time to time designated by Landlord to receive such notice of such thirty (30) day period, Tenant may at Tenant’s intentions to exercise its election bring rights under this Section only in the case of an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetemergency.
Appears in 1 contract
Samples: Industrial Lease Agreement (CF Finance Acquisition Corp II)
Default by Landlord. Landlord shall not be in default hereunder in the ------------------- performance of any obligation required to be performed under this Lease unless Landlord fails has failed to perform the obligations required of Landlord such obligation within thirty (30) days after the receipt of written notice by from Tenant specifying in detail Landlord's failure to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligationperform; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is required for its performance, then Landlord shall not be deemed in default if Landlord commences shall commence such performance within such thirty (30) day period days and thereafter diligently prosecutes pursues the same to completion. In Tenant shall have no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder rights as a result of any default by XxxxxxxxLandlord until Tenant gives thirty (30) days written notice to any person who has a recorded interest pertaining to the Building, specifying the nature of Landlord's default. Such person shall then have the right to cure such default, and Landlord shall not be deemed in default if such person cures such default within thirty (30) days after receipt of notice of the default, or within such longer period of time as may reasonably be necessary to cure the default. If Landlord or such person does not cure the default, Tenant may exercise such rights or remedies or shall be provided or permitted by law to recover any damages proximately caused by such default. Notwithstanding anything to the contrary contained in the Lease, Landlord's liability to Tenant for damages resulting from Landlord's breach of any provision or provisions of the Lease shall not exceed the value of Landlord's equity interest in the Project. Neither Landlord nor Landlord's Employees shall have any personal liability for any matter in connection with this Lease or its obligation as Landlord of the Premises. Tenant shall not institute, seek or enforce any personal or deficiency judgment against Landlord or Landlord's Employees, and none of their property shall be available to satisfy any judgment hereunder. Except as specifically set froth in this Lease, if Landlord fails Tenant hereby waives and relinquishes any right which Tenant may have to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of terminate this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure or withhold any payment owed by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this the Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment damage, condemnation, destruction or state of Basic Rent next due Landlord disrepair of the Premises (including, without limiting the generality of the foregoing, those rights under California Civil Code Sections 1932, 1933, 1941, 1941.1 and any succeeding monthly installments of Basic Rent until fully satisfied from such offset1942).
Appears in 1 contract
Default by Landlord. Landlord shall not be deemed to be in default hereunder in the performance of any obligation required by it under this Lease, or under any agreement executed in connection herewith, unless Landlord fails and until it has failed to perform the obligations required of Landlord such obligation within thirty (30) days after receipt of written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing Landlord, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is are required for its performance, then Landlord shall not be deemed to be in default if Landlord commences it shall commence such performance within such thirty (30) day period and thereafter diligently prosecutes prosecute the same to completion. In no event Nothing in this Article 19 shall be interpreted to mean that Tenant shall have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent any Rent due hereunder as a result of any default by Xxxxxxxxhereunder. Notwithstanding anything to the contrary contained foregoing, in this Lease, if the event Landlord fails to perform any comply with the terms of its repair and/or maintenance obligations under Subparagraph 13(b) Article 7 of this Lease and does not cure such default within the time period provided aboveafter thirty (30) days’ notice from Tenant, then Tenant shall be permitted have the right, after delivering a second notice to Landlord and Landlord’s failure, within five (5) days of Landlord’s receipt of the second notice, to commence to perform any such maintenance or repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers items for which Landlord is expressly obligated to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligationsperform in the Premises, and provided to prosecute such maintenance or repair to completion. In such event, Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty ten (3010) business days following Xxxxxxxx’s receipt of a written statementxxxx therefor, for all reasonable and the actual out of pocket costs incurred by Xxxxxx Tenant in performing any such obligations on behalf of Landlordmaintenance or repair. If If, in connection with the foregoing, Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodtimely reimburse Tenant, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to deduct and offset such amounts owed by Landlord against the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetunder this Lease.
Appears in 1 contract
Samples: Office Lease (TrueCar, Inc.)
Default by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for performanceits cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s 's default; Xxxxxx’s , and Txxxxx's remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and and/or an injunction. Tenant hereby waives any its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. This Lease and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained obligations of Tenant hereunder shall not be interpreted affected or impaired because Landlord is unable to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform fulfill any of its repair and/or maintenance obligations under Subparagraph 13(b) hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord's performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease and does not cure such default within or the time period provided above, then Tenant negotiations which preceded this Lease shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expensebarred unless Txxxxx commences an action thereon, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure or interposes a defense by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenantreason thereof, within thirty six (306) days following Xxxxxxxx’s receipt months after the date of a written statementthe inaction, for all reasonable and actual costs incurred by Xxxxxx in performing omission, event or action that gave rise to such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodclaim, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courtdemand, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetor defense.
Appears in 1 contract
Samples: Standard Office Lease (Auxilio Inc)
Default by Landlord. Landlord shall not be in default hereunder unless ------------------- Landlord fails to perform the obligations required of Landlord within a reasonable time, but in no event earlier than thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee first mortgage or Ground Lessor (as defined in Subparagraph 34(m) below) in writing deed of trust covering the Premises specifying wherein Landlord has failed to perform such obligationobligations; provided, however, that if the nature of Landlord’s obligation 's obligations is such that more than thirty (30) days is are required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In If Landlord is in default of this lease, Tenant's sole remedy shall be to institute suit against Landlord in a court of competent jurisdiction, and Tenant shall have no event shall Tenant have the right to terminate this Lease offset any sums expended by Tenant as a result of Landlord’s default; Xxxxxx’s remedies shall be limited 's default against future rent and other sums due and payable pursuant to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlordlease. If Landlord fails to pay such amount prior to the expiration is in default of such thirty (30) day periodthis lease, and as a consequence Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain recovers a unappealable monetary money judgment against Landlord, the judgment shall be satisfied only out of the proceeds of sale received on execution of the judgment and levy against the right, title and interest of Landlord in the Project of which the Premises are a part, and out of rent or other income from such real property receivable by Landlord or out of the consideration received by Landlord from the sale or other disposition of all or any part of Landlord's right, title and interest in the Project of which the Premises are a court part. Neither Landlord nor any of competent jurisdiction in connection with said action (the “Judgment”) and partners comprising the partnership designated as Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of be personally liable for any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetdeficiency.
Appears in 1 contract
Samples: Work Letter Agreement (Ebay Inc)
Default by Landlord. Tenant’s remedies with regard to Landlord’s default in the performance of its maintenance and repair obligations are set forth in Section 7.2. If Landlord shall not should be in default hereunder unless Landlord fails to perform in the performance of any of its other obligations required under this Lease, which default continues for a period of Landlord within thirty more than twenty (3020) days after receipt of written notice by from Tenant specifying such default, or if such default is of a nature to Landlord require more than twenty (20) days for remedy and continues beyond the time reasonably necessary to any Mortgagee or Ground Lessor cure (as defined in Subparagraph 34(m) below) in writing specifying wherein and Landlord has failed not undertaken procedures to perform such obligation; provided, however, that if cure the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty twenty (3020) day period and thereafter diligently prosecutes the same pursued such efforts to completion. In no event shall complete such cure), Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited may, in addition to any other remedy available at law or in equity; provided, however, notwithstanding anything including incurring reasonable expenses necessary to perform the obligation of Landlord specified in this Lease to such notice and in the contrary, under no circumstances shall event Landlord be liable hereunder to does not reimburse Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, reasonable expenses within thirty (30) days following Xxxxxxxxof prior written notice plus an administrative charge equal to five percent (5%) of the amount thereof, then Tenant shall be entitled to deduct such expense from the Base Rent or other charges next becoming due. Furthermore, in the event that Landlord’s receipt of breach has a written statementmaterial adverse effect upon Tenant’s use, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior quiet enjoyment or access to the expiration of such thirty Premises, then following a second ten (3010) day periodwritten notice to Landlord, in the event that the Landlord does not undertake the cure within said ten (10) day period and thereafter proceed diligently to complete same, Tenant may at its election bring an action for damages against Landlord on account thereofshall be entitled to terminate this Lease. In Notwithstanding the above, in the event that Landlord disputes that it is in default hereunder by providing written notice thereof to Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action within the twenty (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (3020) days following entry of such Judgment by the courtTenant’s initial notice, then the dispute will be resolved pursuant to the expedited arbitration provisions of Exhibit H and only then in the event that the arbitrator determines that Landlord was in default, Landlord shall be provided with a reasonable opportunity to cure (not to exceed thirty [30] days) and in the event that Landlord effectuates the cure, Tenant shall not have the right to offset terminate the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetLease.
Appears in 1 contract
Samples: Office Lease (Skechers Usa Inc)
Default by Landlord. No default by Landlord hereunder shall not constitute an eviction or disturbance of Tenant’s use and possession of the Premises or render Landlord liable for damages, of any kind or nature, or entitle Tenant to be in default relieved from any of Tenant’s obligations hereunder unless Landlord fails (including the obligation to perform pay Rent) or grant Tenant any right of deduction, abatement, set-off or recoupment, or entitle Tenant to take any action whatsoever with regard to the obligations required of Landlord within Premises or Landlord, until thirty (30) days after Tenant has given Landlord written notice specifically setting forth such default by Tenant to Landlord Landlord, and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform cure such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than default within said thirty (30) days is required for performanceday period, or in the event such default cannot be cured within said thirty (30) day period, then within an additional reasonable period of time so long as Landlord shall not be in default if Landlord commences performance has commenced curative action within such said thirty (30) day period and thereafter is diligently prosecutes the same attempting to completioncure such default. In no the event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such said thirty (30) day period, or within said the additional reasonable period of time, Tenant may shall have the right, as its sole and exclusive remedy, to proceed to cure such default and deduct the cost of curing same plus interest thereon at the rate of ten percent (10%) per annum from the next succeeding Base Rent installment(s) due by Tenant to Landlord hereunder. If any mortgagee of Landlord has given Tenant its election bring address for notices and specifically requests such notice, Tenant agrees to give the notice required hereinabove to such mortgagee at the time Tenant gives same to Landlord, and to accept curative action, if any, undertaken by such mortgagee as if such curative action had been taken by Landlord. The liability of Landlord (and all other Addison Persons and all Manager Persons) for any default by Landlord under this Lease shall be limited to an action for damages against Landlord on account thereof. In the event Tenant is able amount equal to obtain a unappealable monetary judgment against Landlord from a court twelve (12) months of competent jurisdiction in connection with said action Base Rent (the “Judgment”) and Landlord fails to pay the amount of such Judgment (Base Rent being the “Judgment Amount”) within thirty (30) days following entry amount in effect at the time of such Judgment by the courtdefault), then and only then Landlord (and all other Addison Persons and all Manager Persons) shall not be otherwise or personally liable for any deficiency, claim, harm, loss, judgment, liability, or for any other matter whatsoever, and Tenant have the right to offset the Judgment Amount (for itself and all Tenant Persons) fully waives all other rights of recovery against up to twenty-five percent Landlord (25%and all other Addison Persons and all Manager Persons) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments assets of Basic Rent until fully satisfied from such offsetLandlord (and all other Addison Persons and all Manager Persons).
Appears in 1 contract
Samples: agendas.addisontx.gov
Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within a reasonable time, but in no event less than thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligationobligations; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such a thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Initial ________ 30. THE FOLLOWING PLATS, EXHIBITS, AND RIDERS, ARE HEREBY ATTACHED HERETO AND INCORPERATED BY THIS REFERENCE. Addendum A Landlord’s default; XxxxxxCredit for Tenant’s remedies Work Addendum B Building Standard Work Addendum C Building Non-Standard Work Addendum D Option to Extend Addendum E Environmental Compliance Report Addendum F Rules and Regulations Addendum G Notary Page Addendum H Floor Plan WITNESS the following signatures and seals: Accepted and agreed to this ______ day of _______ , 2019 Tenant: Silicom Connectivity Solutions Landlord: York Property, LLC By: _______________________ By: _______________________ Name & Title By: _______________________ Name & Title Initial ________ ADDENDUM A LANDLORD’S CREDIT FOR TENANT’S WORK Tenant may make alterations, additions and improvements to the Premises consistent with the provisions of the Lease, specifically including, without limitation, Section 8 of the Lease. All such alterations, additions and improvements shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at LandlordTenant’s sole cost and expense, provided . Except that the Landlord shall pay to Tenant first delivers an improvement allowance of an amount not to exceed $14,000.00 to reimburse Tenant for the reasonable and necessary costs and expenses actually incurred by Tenant for the following: 1. Install common hallway in Suite 105 to give Landlord an additional two unrestricted access 24 hour per day to one bathroom (2) business days prior written notice see attached floor plan). (“Tenant's Up-fit Work”). Tenant’s SelfUp-Help Notice”) that Tenant will fit Work must be performing such obligationscompleted on or before January 31, 2020 and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxxany work completed on or after February 1, 2020 shall be at Tenant’s Self-Help Notice will sole cost and expense and shall not be deemed given subject to any reimbursement by the Landlord. The cost of Tenant’s Up-fit Work shall be documented in a cost certification affidavit signed by Tenant and must include copies of all invoices and receipts for Tenant’s Up-fit Work (collectively the “Cost Certification”). The Cost Certification must be delivered to Landlord unless on or before January 31, 2020 and the same contains the following language Landlord shall reimburse Tenant within fifteen (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (3015) days following Xxxxxxxxof Landlord’s receipt of a written statementproper cost certification; provided that payment shall not be made until the earlier of (a) the date that Tenant has procured unconditional lien waivers and indemnity forms from all contractors and materialmen performed work in the Premises, or (b) the date the "mechanic's lien period" for all reasonable such construction and actual costs incurred by Xxxxxx in performing such obligations on behalf materials acquisition shall have expired. Tenant, at its sole cost and expense, shall be responsible for the installation of Landlordits own phone system and security system and shall not be considered Tenant’s Work subject to reimbursement hereunder. If Initial ________ ADDENDUM B BUILDING STANDARD WORK Landlord fails to pay such amount prior shall complete the following work: Premises work: Notwithstanding anything else to the expiration of such thirty (30) day periodcontrary, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have Reserves the right to offset reasonably alter the Judgment Amount against up plans as may be necessary to twentyinstall and accommodate the installation of the heating and air conditioning system, electrical work and/or the plumbing work that has to be done either to the premises or the project. Tenant, at its sole cost and expense, shall be responsible for the installation of its own phone system. Initial ________ ADDENDUM C BUILDING NON-five percent STANDARD WORK Tenant shall be responsible for all other work. Tenant is responsible for changing A/C filters every three (25%3) months, service A/C unit twice per year and submit in writing to our office that this has been done. Tenant is also responsible for changing all light bulbs. Landlord reserves the right to charge a lock-out fee according to the lock-out fee schedule below. No trash is allowed to accumulate outside of any monthly installment the space. Dumpster is only to be used for business related trash. No inoperable or personal vehicles are allowed to be stored on the site. No signs are allowed in grass along Timberwood Blvd and Xxxxxxxx Drive. The property is for business use only and is not permitted to be used as living quarters. Lock-out fee schedule Weekdays- 4:00pm-9:30pm: $85.00 9:30pm-9:00am: $110.00 Weekends- Anytime $125.00 Holidays- Anytime $150.00 Initial ________ 1st OPTION TO EXTEND Landlord hereby grants to Tenant the option to extend the term of Basic Rent next due Landlord this Lease for a 2 (two) year period commencing when the original term expires and any succeeding monthly installments terminating December 31, 2024, upon each and all of Basic Rent until fully satisfied from such offset.the following terms and conditions:
Appears in 1 contract
Samples: Commercial Lease (Silicom Ltd.)
Default by Landlord. Landlord shall perform all conditions and covenants required to be performed by Landlord, as set forth in this Lease, including, but not limited to, making all payments required by Landlord to be made on any obligation secured by the real property subject to this Lease. Notwithstanding anything herein to the contrary, Landlord shall not be deemed to be in default hereunder under this Lease unless and until Tenant has given written notice to Landlord fails of any such default by Landlord and Landlord has failed to perform the obligations required of Landlord cure such default within thirty (30) days after written Landlord received notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; providedthereof. Provided, however, that if the nature of Landlord’s obligation 's default is such that more than thirty (30) days is are reasonably required for performancea cure, then Landlord shall not be deemed to be in default for up to an additional thirty (30) day period if Landlord commences performance such cure within such the original thirty (30) day period and thereafter diligently prosecutes the same cure to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default completion within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction should be in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) default of any monthly installment obligation as herein set forth herein, or in any other manner under this Lease, and the applicable cure period has expired, Tenant shall be entitled to cure the default, at Tenant's option, including the payment of Basic Rent next monies directly to the party to whom the obligation is owed, or Tenant may terminate this Lease by notice to Landlord at any time before the default is cured, or Tenant may pursue any other remedy now or hereafter permitted or available to Tenant under the laws or judicial decisions of the State of Vermont. In the event of any such payment by Tenant, Tenant shall receive credit toward any rent due to Landlord to the extent of any payment made. Tenant shall be entitled to a fair and reasonable abatement of rental during the time and to the extent that the Land is untenantable as a result of Landlord's failure to perform any succeeding monthly installments of Basic Rent until fully satisfied from such offsetcondition or covenant required by this Lease to be performed by Xxxxxxxx. .
Appears in 1 contract
Samples: Ground Lease
Default by Landlord. If Landlord shall not be in default hereunder unless fail to perform any of its obligations as required by this Lease or if Landlord fails to perform pay to Tenant any amounts owed by Landlord to Tenant, and if Landlord shall fail to cure such failure within the obligations required of Applicable Grace Period (or such other applicable grace period expressly provided herein), then Tenant shall have its rights and remedies at law or in equity and Tenant may also elect to: (i) take such steps as may be necessary to cure Landlord's default, in which event Tenant shall be entitled to recover from Landlord all amounts expended by Tenant for said purposes, together xxxx xttorney's fees and interest thereon from the date expended by Tenant until the date paid at the Interest Rate specified in Section 16.13 hereof, and if Landlord fails to pay to Tenant such amounts within thirty one (301) days month after written notice demand therefor, then Tenant shall be entitled to deduct such amounts from any amounts owed by Tenant to Landlord, (ii) deduct any amounts due by Landlord to Tenant, together with attorney's fees and interest thereon from the date due until the date paid at the Interest Rate specified in Section 16.13 hereof, from any amounts owed by Tenant to any Mortgagee or Ground Lessor Landlord, and/or (as defined in Subparagraph 34(miii) below) in writing specifying wherein Landlord has failed to perform such obligationterminate this Lease; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord Tenant shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the exercise its right to terminate this Lease as a result until (a) Tenant has given written notice of Landlord’s 's default to any mortgagee xx Xxxxlord of whom Tenant has been notified in writing xx xxe last address of such mortgagee furnished to Tenant in writing, and (b) such mortgagee has had a reasonable period of time following such notice (but in no event in excess of two (2) months) to remedy such default; Xxxxxx’s remedies . Nothing in this Section 10.2 shall be limited deemed to limit any other remedy available at law or additional remedies for a Landlord default set forth elsewhere in equity; providedthis Lease, nor shall any such additional remedies be deemed to limit any remedies for a Landlord default set forth in this Section 10.2. In no event, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any indirect or consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offset.
Appears in 1 contract
Samples: Startek Inc
Default by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust encumbering the Building whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for performanceits cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In no event This Lease and the obligations of Tenant hereunder shall Tenant have not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of strike or other labor problems, acts of God, riot, insurrection, governmental actions or requirements, or any other cause beyond the right to terminate reasonable control of Landlord, and the time for Landlord's performance shall be extended for the period of any such delay. Similarly, this Lease as a result and the obligations of Landlord’s default; Xxxxxx’s remedies Landlord hereunder shall not be affected or impaired because Tenant is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of strike or other labor problems, acts of God, riot, insurrection, governmental actions or requirements, or any other cause beyond the reasonable control of Tenant, and the time for Tenant's performance shall be limited to extended for the period of any other remedy available at law or in equity; such delay, provided, however, notwithstanding anything in this Lease sentence shall not be applicable to the contraryany obligation of Tenant to pay money to Landlord or any other person, under no circumstances which monetary obligations shall Landlord not be liable hereunder subject to Tenant extension for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetreason.
Appears in 1 contract
Samples: Lease by And (Cambex Corp)
Default by Landlord. In the event of any alleged default on the part of Landlord hereunder, Tenant shall give written notice to Landlord in the manner herein set forth and shall afford Landlord a reasonable opportunity to cure any such default. Notice to Landlord of any such alleged default shall be ineffective unless notice is simultaneously delivered to any holder of a Mortgage and/or Trust Deed affecting all or any portion of the Building Complex ("Mortgagees"), as hereafter provided. Xxxxxx agrees to give all Mortgagees, by certified mail, return receipt requested, a copy of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified, in writing (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of such Mortgagees. Tenant further agrees that if Landlord shall not be have failed to cure such default within the time provided for in default hereunder unless Landlord fails to perform this Lease, then the obligations required of Landlord within Mortgagees shall have an additional thirty (30) days after written notice by Tenant within which to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform cure such obligation; provideddefault or, however, if such default cannot be cured within that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performancetime, then Landlord shall not such additional time as may be in default if Landlord commences performance necessary, if, within such thirty (30) day period days, any Mortgagee has commenced and thereafter is diligently prosecutes pursuing the same remedies necessary to completioncure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being so diligently pursued. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall will Landlord or any Mortgagee be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant responsible for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder incurred by Xxxxxx as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Leasedefault, if Landlord fails to perform including, but not limited to, lost profits or interruption of business as a result of any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a alleged default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsethereunder.
Appears in 1 contract
Default by Landlord. In the event Landlord fails or refuses to perform any of the provisions, covenants or conditions of this Lease on Landlord’s part to be kept or performed, then Tenant, prior to exercising any right or remedy Tenant may have against Landlord on account of such default, shall give written notice to Landlord and any Facility Mortgagee(s) of such default, specifying in said notice the default with which Landlord is charged, and Landlord shall not be deemed in default hereunder unless Landlord fails to perform if the obligations required of Landlord same is cured within thirty (30) calendar days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligationof receipt of said notice; provided, however, that if the default complained of in the notice is of such a nature of that the same can be rectified or cured by Landlord’s obligation is such that more than , but cannot with reasonable diligence be rectified or cured by Landlord within said thirty (30) days is required for performancecalendar-day period, then Landlord such default shall not be in default deemed to be rectified or cured if Landlord commences performance within such a thirty (30) calendar-day period shall commence the rectification and curing thereof and shall continue thereafter diligently prosecutes with all due diligence to cause such rectification and curing to proceed. Notwithstanding the same foregoing to completionthe contrary, with respect to a default by Landlord in funding a draw on the Working Capital Line, or other default involving the payment by or delivery by Landlord of funds, then the applicable cure period shall be ten (10) Business Days. In no event shall Upon the occurrence of a default hereunder by Landlord, and subject to applicable rights of notice and cure as provided in this Section 14.6, Tenant have may exercise any and all rights or remedies available to it at law or in equity (including, without limitation, the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damagesLease). Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) The provisions of this Lease and does not cure such default within the time period provided above, then Tenant Section 13.6 shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless amend, limit or vitiate the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetSection 11.4.
Appears in 1 contract
Samples: Casino Lease (Bref Hr, LLC)
Default by Landlord. No default by Landlord hereunder shall not constitute an eviction or disturbance of Tenant’s use and possession of the Premises or render Landlord liable for damages, of any kind or nature, or entitle Tenant to be in default relieved from any of Tenant’s obligations hereunder unless Landlord fails (including the obligation to perform pay Rent) or grant Tenant any right of deduction, abatement, set-off or recoupment, or entitle Tenant to take any action whatsoever with regard to the obligations required of Landlord within Premises or Landlord, until thirty (30) days after Tenant has given Landlord written notice specifically setting forth such default by Tenant to Landlord Landlord, and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform cure such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than default within said thirty (30) days is required for performanceday period, or in the event such default cannot be cured within said thirty (30) day period, then within an additional reasonable period of time so long as Landlord shall not be in default if Landlord commences performance has commenced curative action within such said thirty (30) day period and thereafter is diligently prosecutes the same attempting to completioncure such default. In no the event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such said thirty (30) day period, or within said the additional reasonable period of time, Tenant may shall have the right, as its sole and exclusive remedy, to proceed to cure such default and deduct the cost of curing same plus interest thereon at the rate of ten percent (10%) per annum from the next succeeding Base Rent installment(s) due by Tenant to Landlord hereunder. If any mortgagee of Landlord has given Tenant its election bring address for notices and specifically requests such notice, Xxxxxx agrees to give the notice required hereinabove to such mortgagee at the time Tenant gives same to Landlord, and to accept curative action, if any, undertaken by such mortgagee as if such curative action had been taken by Landlord. The liability of Landlord (and all other Addison Persons and all Manager Persons) for any default by Landlord under this Lease shall be limited to an action for damages against Landlord on account thereof. In the event Tenant is able amount equal to obtain a unappealable monetary judgment against Landlord from a court twelve (12) months of competent jurisdiction in connection with said action Base Rent (the “Judgment”) and Landlord fails to pay the amount of such Judgment (Base Rent being the “Judgment Amount”) within thirty (30) days following entry amount in effect at the time of such Judgment by the courtdefault), then and only then Landlord (and all other Addison Persons and all Manager Persons) shall not be otherwise or personally liable for any deficiency, claim, harm, loss, judgment, liability, or for any other matter whatsoever, and Tenant have the right to offset the Judgment Amount (for itself and all Tenant Persons) fully waives all other rights of recovery against up to twenty-five percent Landlord (25%and all other Xxxxxxx Xxxxxxx and all Manager Persons) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments assets of Basic Rent until fully satisfied from such offsetLandlord (and all other Addison Persons and all Manager Persons).
Appears in 1 contract
Samples: agendas.addisontx.gov
Default by Landlord. So long as the Security Deed remains outstanding and unsatisfied, Tenant will mail or deliver to Lender, at the address and in the manner herein provided, a copy of all notices permitted or required to be given to Landlord shall not be by Tenant under and pursuant to the terms and provisions of the Lease. In addition thereto, so long as the Security Deed remains outstanding and unsatisfied, Tenant will mail or deliver to Lender, at the address and in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after manner hereinabove provided, written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxxor claimed default of Landlord under the Lease (whether or not Tenant is obligated under the Lease to give written notice thereof to Landlord). Notwithstanding anything If Landlord shall fail to the contrary contained in this Lease, if Landlord fails to perform cure any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided aboveprescribed by the Lease, then Tenant shall be give further notice of such fact to Lender. At any time before the rights of Landlord shall have been forfeited or adversely affected because of any default of Landlord, or within the time permitted to perform such repair and/or maintenance Landlord for curing any default under the Lease as therein provided (but not less than sixty (60) days from the receipt of notice), Lender may, but shall have no obligation on Landlord’s behalf to, pay any taxes and at Landlord’s sole cost assessments, make any repairs and expenseimprovements, provided Tenant first delivers to make any deposits or do any other act or thing required of Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligationsby the terms of the Lease, and provided all payments so made and all things so done and performed by Lender shall be as effective to prevent the rights of Landlord fails from being forfeited or adversely affected because of any default under the Lease as the same would have been if done and performed by Landlord. Tenant agrees that notwithstanding any provisions of the Lease, no notice of cancellation or abatement shall be effective unless Lender has received notice as herein provided, and Lender has failed within sixty (60) days of its receipt of such notice to cure the default, or if the default cannot be cured within sixty (60) days, has failed to commence such cure within such additional two and diligently prosecute the curing of the default (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will which may include, but not be deemed given limited to, commencement of foreclosure proceedings, if necessary to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2effect such cure) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any which gave rise to such cure by Tenant right of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetcancellation or abatement.
Appears in 1 contract
Default by Landlord. In the event of any default by Landlord, Tenant's exclusive remedy shall be an action 34 for actual direct damages (Tenant hereby waiving the benefit of any laws granting it a lien upon the property of Landlord and/or upon rent due Landlord), but prior to any such action Tenant will give Landlord written notice specifying such default with particularity, and Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thereupon have thirty (30) days in which to cure any such default. Unless and until Landlord fails to so cure any default after written notice such notice, Tenant shall not have any remedy or cause of action by Tenant to reason thereof. All obligations of Landlord hereunder will be construed as covenants, not conditions, and to all such obligations will be binding upon Landlord only during the period of its possession of the Premises and not thereafter. The term "Landlord" shall mean only the owner, for the time being of the Premises, and in the event of the transfer by such owner of its interest in the Premises, such owner shall thereupon be released and discharged from all covenants and obligations of the Landlord thereafter accruing, but such covenants and obligations shall be binding during the lease term upon each new owner for the duration of such owner's ownership. Notwithstanding any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; providedother provision hereof, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereofpersonal liability hereunder. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment breach or default by Landlord in any term or provision of Basic Rent next due this Lease, Tenant agrees to look solely to the equity or interest then owned by Landlord and in the Property, however, in no event, shall any succeeding monthly installments deficiency judgment or any money judgment of Basic Rent until fully satisfied from such offsetany kind be sought or obtained against any Landlord.
Appears in 1 contract
Default by Landlord. In the event of any alleged default on the part of Landlord hereunder, Tenant shall give written notice to Landlord in the manner herein set forth and shall afford Landlord a reasonable opportunity to cure any such default. Notice to Landlord of any such alleged default shall be ineffective unless notice is simultaneously delivered to any holder of a Mortgage and/or Trust Deed affecting all or any portion of the Shopping Center ("Mortgagees"), as hereafter provided. Tenant agrees to give all Mortgagees, by certified mail, return receipt requested, a copy of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified, in writing (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of such Mortgagees. Tenant farther agrees that if Landlord shall not be have failed to cure such default within the time provided for in default hereunder unless Landlord fails to perform this Lease, then the obligations required of Landlord within Mortgagees shall have an additional thirty (30) days after written notice by Tenant within which to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform cure such obligation; provideddefault or, however, if such default cannot be cured within that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performancetime, then Landlord shall not such additional time as may be in default if Landlord commences performance necessary, if, within such thirty (30) day period days, any Mortgagee has commenced and thereafter is diligently prosecutes pursuing the same remedies necessary to completioncure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being so diligently pursued. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall will Landlord or any Mortgagee be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant responsible for any consequential damages or for loss of business, revenue, income or profits and incurred by Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Leasedefault, if Landlord fails to perform including, but not limited to, lost profits or interruption of business as a result of any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a alleged default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsethereunder.
Appears in 1 contract
Samples: Front Range Capital Corp
Default by Landlord. Landlord shall not be in default hereunder unless of its obligations under this Lease if Landlord fails shall fail to observe or perform the obligations required any term, covenant or condition of Landlord within thirty this Lease on its part to be performed and such failure shall continue for a period of sixty (3060) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor thereof from Tenant, unless such failure cannot with reasonable diligence be cured within a period of sixty (as defined 60) days, in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform which case such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord failure shall not be in default deemed to continue if Landlord commences performance Landlord, within such thirty said sixty (3060) day period period, proceeds promptly and thereafter with reasonable diligence to cure the failure and diligently prosecutes completes the same curing thereof (the “Landlord Cure Period”). The time within which Landlord shall be obligated to completioncure any such failure shall also be subject to extension of time due to the occurrence of any Unavoidable Delay. In no the event shall Landlord fails to cure any such default within the period provided, Tenant have the right may seek such remedies available to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available Tenant hereunder or at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything shall have no right to terminate the contrary contained in this LeaseLease unless and until (i) such default, if left uncured, would render the Premises Unsuitable for its Permitted Use in Tenant’s commercially reasonable opinion, (ii) Tenant has provided Landlord fails with a second written notice of default relating to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days matters which were set forth in a prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing and which were not cured during the aforementioned Landlord Cure Period, which second notice shall clearly and unequivocally state that, if such obligations, and provided matters are not cured in a second Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodCure Period, Tenant may terminate the Lease, and (iii) Landlord’s failure shall then continue for a second Landlord Cure Period. Any sums owed Tenant by Landlord hereunder shall bear interest at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord Overdue Rate from a court of competent jurisdiction in connection with said action (the “Judgment”) date due and Landlord fails to pay payable until the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetdate paid.
Appears in 1 contract
Samples: Lease Agreement (Cornerstone Healthcare Plus Reit, Inc.)
Default by Landlord. Landlord shall not be in default hereunder unless of the performance of its obligations under this Lease if Landlord defaults in the performance or observation of any agreement, liability, or obligation imposed on it by this Lease and Landlord fails to perform the obligations required of Landlord cure such default within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation obligations is such that more than thirty (30) days is are required for performance, performance then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently and continuously prosecutes the same to completioncompletion (a “Landlord’s Default”). In no event shall Tenant have Upon the occurrence of a Landlord’s Default under this Lease, Tenant, at its option, without further notice or demand, and without limiting its right to terminate this Lease receive any late delivery payments in connection with Landlord’s delivery of the Leased Premises as a result specified above, may: (a) pursue the remedy of specific performance or injunction; (b) seek declaratory relief; (c) pursue an action for actual and direct damages for loss; and (d) unless such Landlord’s Default results from Landlord’s failure to perform any construction obligations hereunder, but including without limitation repair and maintenance obligations of Landlord, take 36 reasonable measures to cure such Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease Default to the contraryextent relating to the repair or maintenance of the Leased Premises on Landlord’s account, under no circumstances in which event Landlord shall Landlord be liable hereunder to reimburse Tenant for any consequential damages actual out-of-pocket reasonable costs or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure contractual liability incurred by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action such cure (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”including reasonable attorneys’ fees) within thirty (30) days following entry of such Judgment by the courtLandlord’s receipt of a written demand, then and only then statement or invoice, including reasonable back-up documentation; provided that Tenant shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment withhold from its payments of Basic Annual Rent next due and Additional Rent any such amounts that remain unreimbursed by Landlord beyond such thirty (30) day period until all such amounts have been fully reimbursed, and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetamounts not paid to Tenant when due shall accrue interest thereafter at the Default Rate.
Appears in 1 contract
Samples: Lease Agreement (Healthequity Inc)
Default by Landlord. In the event Landlord shall not be in default hereunder unless Landlord fails neglect or fail to perform or observe any of the obligations required of Landlord covenants, provisions or conditions contained in this Lease on its part to be performed or observed within thirty (30) 60 days after written notice of default (or if more than 60 days shall be required because of the nature of the default, if Landlord shall fail to proceed diligently to cure such default after written notice thereof), then in that event Landlord shall be liable to Tenant for any and all actual damages as contrasted to consequential damages sustained by Tenant as a result of Landlord's breach. If the Properties or any part thereof are at any time subject to Landlord a fee mortgage and this Lease or the rentals due from Tenant hereunder are assigned to any Mortgagee the fee mortgagee, trustee or Ground Lessor beneficiary (as defined the "Assignee") and Tenant is given written notice hereof, including the post office address of such Assignee, then Tenant shall give written notice to such Assignee in Subparagraph 34(m) below) the manner required by Section 21.10 hereof, specifying the default in writing specifying wherein Landlord has failed reasonable detail. Assignee shall have a period of 60 days after receipt of written notice of Landlord's default within which to perform such obligationcure the same; provided, however, that if the nature of Landlord’s obligation is such that default requires more than thirty (30) 60 days to cure the same, Assignee shall have such additional time as may be reasonably necessary to make performance on behalf of Landlord so long as Assignee is required for performance, then Landlord shall not be in proceeding with due diligence to cure the default if Landlord commences performance within prior to the expiration of such thirty (30) 60 day period and thereafter diligently prosecutes pursues the same cure to completion. In no event Assignee shall not have any liability whatsoever to Tenant for any such default; provided, however, if and when the said Assignee has made performance on behalf of Landlord, such default shall be deemed cured. If, after such notice to Landlord and Assignee, if any, Landlord or Assignee shall fail to cure such default as provided herein, Tenant shall have the right to cure any such default at Landlord's (but not Assignee's) expense, including in such expenditure all reasonable costs and attorney's fees incurred to cure such default or breach of the terms and provisions of this Lease and Landlord shall reimburse Tenant for the full amount of such costs within ten days after the receipt by Landlord of an invoice therefor. All sums not paid to Tenant by the expiration of the aforesaid ten day period shall bear interest at the Late Payment Rate from the due date thereof until paid in full. Tenant shall have no right to terminate this Lease as a result of any default by Landlord hereunder or to offset against any rent payable hereunder the amount of costs incurred by Tenant in curing a default by Landlord’s default; Xxxxxx’s remedies . In no event shall any rent be limited to any other remedy available at law abated whatsoever during, or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of of, any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsethereunder.
Appears in 1 contract
Samples: Lease Agreement (Meyer Fred Inc)
Default by Landlord. Should Landlord shall not fail to promptly perform any maintenance or repairs required by the provisions of this Lease to be in default hereunder unless performed by Landlord, Tenant may by written notice request that Landlord fails make such repairs or perform such maintenance and upon Landlord's failure or refusal to perform the obligations required of Landlord do so within thirty (30) days (plus an additional reasonable period as may be required by Landlord to cure such default, if Landlord shall diligently pursue the cure of such default until same shall be cured) after written issuance of such notice by (and in any event, in case of an emergency irrespective of whether Tenant to Landlord and to any Mortgagee shall have requested or Ground Lessor obtained Landlord's prior consent), Tenant shall have the right (as defined in Subparagraph 34(mbut shall not be obligated) below) in writing specifying wherein Landlord has failed to perform such obligationmaintenance or make such repairs; providedthereupon, howeverLandlord will pay (or reimburse Tenant for) the reasonable cost of such maintenance or repairs. For these purposes, that if an "emergency" shall be deemed to exist if, in the nature good faith judgment of Tenant, prompt repairs are needed in order to prevent death, bodily injury or property damage. In any case in which Tenant shall exercise its aforesaid right to make emergency repairs which were the responsibility of the Landlord’s obligation is , the Tenant shall not make repairs more extensive than are reasonably necessary to abate the emergency. In the event of any other default by Landloxx, Tenant's exclusive remedy shall be an action for damages, but prior to pursuing any such that more than action Tenant will give Landlord written notice specifying such default with particularity, and Landlord shall have thirty (30) days is (plus an additional reasonable period as may be required for performance, then by Landlord shall not be in default if Landlord commences performance within to cure such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any shall diligently pursue the cure of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant until same shall be permitted cured) in which to perform cure any such repair and/or maintenance obligation on Landlord’s behalf default. Unless and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided until Landlord fails to commence so cure any default after such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodnotice, Tenant may at its election bring an shall not have any remedy or causes of action for damages against Landlord on account by reason thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offset.
Appears in 1 contract
Samples: Lease Agreement (Farah Inc)
Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within a reasonable time, but in no event later than thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee first mortgage or Ground Lessor (as defined in Subparagraph 34(m) below) deed of trust covering the Premises whose name and address have been furnished in writing to Tenant ("NOTICED LENDER"), specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completioncompletion (the "CURE PERIOD"). In no addition, the Noticed Lender shall be entitled to such additional period of time to cure any such default as is set forth in Section 33 hereof. Notwithstanding anything in this Lease to the contrary, if access to the Premises is unavailable as a result of any blockage occurring in the Common Areas that is caused by Landlord or its agents, Tenant shall have the right to give Landlord and any Noticed Lender notice of such events (an "ABATEMENT NOTICE"). If the blockage in the Common Areas which denies access to the Premises has not been repaired within the Cure Period or such additional period of time for the Noticed Lender to cure any such default as is set forth in Section 33 hereof (not to exceed thirty (30) days after the Cure Period), Tenant's obligations to pay Monthly Base Rent and Common Area Expenses (or if applicable, Operating Expenses) shall be abated for the period after the Abatement Notice until the cure of the condition giving rise to such notice for the entire amount of Monthly Base Rent and Common Area Expenses (or if applicable, Operating Expenses), provided (i) the condition giving rise to such abatement right is a denial of access to the Premises due to a blockage of the Common Areas that is caused by Landlord or its agents and (ii) Tenant is actually unable to and actually does not use any of the Premises for the conduct of its business. In the event that for a period of ninety (90) consecutive days following the Abatement Notice, the condition giving rise to such notice has not been cured and Tenant has not conducted its business from the Premises during such ninety (90) day period, Tenant shall have the right to deliver an additional notice (a "TERMINATION NOTICE") to Landlord and the Noticed Lender specifying that such item has not been cured within such period and if such condition is not then cured within thirty (30) business days after the Termination Notice, Tenant may terminate this Lease by giving notice thereof to Landlord and the Noticed Lender prior to the date upon which such condition is cured. The foregoing rights and remedies are in addition to all other rights and remedies available to Tenant at law or in equity. Except as provided in this Article 49, Tenant shall not have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies 's default hereunder. Landlord's liability hereunder in the event of a default shall be limited to any other remedy available at law or as set forth in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by XxxxxxxxArticle 43 hereof. Notwithstanding anything to the contrary contained in this Leaseherein, if Landlord fails to perform any the blockage occurring in the Common Areas is the result of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided abovea fire or other casualty or a taking in eminent domain, then Tenant this Article 49 shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf inapplicable and at Landlord’s sole cost Articles 21 and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless 22 hereof shall govern the same contains rights of the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetparties.
Appears in 1 contract
Samples: Lease (Sports Club Co Inc)
Default by Landlord. In the event of any default by Landlord hereunder, Tenant's exclusive remedy shall be an action for damages but prior to any such action Tenant shall give Landlord written notice specifying such default with reasonable detail, and Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thereupon have thirty (30) days after written notice by Tenant in which to Landlord and to cure any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is default. If such that more than default cannot reasonably be cured within such thirty (30) days is day period, the length of such period shall be extended for the period reasonably required for performance, then Landlord shall not be in default therefore if Landlord commences performance curing such default within such thirty (30) day period and thereafter diligently prosecutes continues the same to completioncuring thereof with reasonable diligence and continuity. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Unless Landlord fails to perform cure any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure default after such default within the time period provided abovenotice, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure have any remedy or cause of action by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account reason thereof. In the event any default on the part of Landlord remains uncured after said notice, Tenant is able will give notice by registered or certified mail to obtain any beneficiary of a unappealable monetary judgment against deed of trust or mortgagee of a mortgage covering the Premises whose address shall have been furnished it, and shall offer such beneficiary or mortgagee a reasonable opportunity to cure the default. The term "Landlord" shall mean only the last owner of the Building and Property, and in the event of the transfer by such owner of its interest in the Building and Property, such owner shall thereupon be released and discharged from all covenants and obligations of the Landlord from a court thereafter accruing, but such covenants and obligations shall be binding during the term of competent jurisdiction in connection with said action (this Lease upon each new owner of the “Judgment”) Building and Landlord fails to pay Property for the amount duration of such Judgment (owner's ownership of the “Judgment Amount”) within thirty (30) days following entry of such Judgment by Building and Property. In addition, Tenant specifically agrees to look solely to Landlord's interest in the court, then Building and only then shall Tenant have Property for the right to offset the Judgment Amount against up to twenty-five percent (25%) recovery of any monthly installment judgment from Landlord pursuant to this Lease, it being agreed that neither Landlord nor any successors or assigns of Basic Rent next due Landlord nor any future owner of the Building and Property shall ever be personally liable for any succeeding monthly installments of Basic Rent until fully satisfied from such offsetjudgment.
Appears in 1 contract
Samples: Standard Office Lease (Argyle Security Acquisition CORP)
Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails Landlord's failure to perform the or observe any of its obligations required under this Lease or to correct a breach of Landlord any warranty or representation made in this Lease within thirty (30) days after receipt of written notice by from Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined setting forth in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if reasonable detail the nature and extent of Landlord’s obligation is such that the failure referencing pertinent Lease provisions or if more than thirty (30) days is required for performanceto cure the breach, then Landlord shall not be in default if Landlord commences performance Landlord's failure to begin curing within such the thirty (30) day period and thereafter diligently prosecutes prosecute the same cure to completion, shall constitute a default. In no event If Landlord commits a default that materially affects Tenant's use of the Premises, and Tenant has provided simultaneous written notice thereof to Landlord's mortgagee (if any and if Tenant has notice thereof) and Landlord (and/or Landlord's mortgagee if any) has failed to commence to cure such default within thirty (30) days (or such shorter time as is commercially reasonable in the case of an emergency threatening imminent harm to persons or property), Tenant may, without waiving any claim for damages for breach of agreement, thereafter cure the default for the account of the Landlord, which cure shall be preceded by an additional written notice given at least three (3) days prior to such cure to Landlord and Landlord's mortgagee that Tenant plans to undertake the cure, and the reasonable cost of such cure shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for Tenant's out-of-pocket expenditures paid to third parties to effectuate such cure, such reimbursement to be within thirty (30) days after completion of the cure and invoice to Landlord showing the costs of cure. Tenant s cure rights shall be in lieu of any right to terminate this Lease; Tenant shall not have the right to terminate this Lease as for a result Landlord default. If Landlord disputes either the necessity of Landlord’s default; Xxxxxx’s remedies the cure or the cost thereof, the matter shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to settled by arbitration administered by the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed American Arbitration Association in accordance with provisions its Rules for the Real Estate Industry before a single neutral arbitrator of Subparagraph 14(bthe American Arbitration Association sitting in Seattle, Washington. The arbitrator shall be a person having at least ten (10) of this Leaseyears' experience and knowledge about commercial leasing and property management. Xxxxxxxx agrees to reimburse Tenant, The arbitration shall be held within thirty sixty (3060) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual Landlord notifying Tenant it disputes Tenant's cure. The costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment arbitrator shall be shared equally by the court, then parties. The prevailing party shall be entitled to an award of reasonable attorney's fees. The arbitrator's award shall be final and only then shall Tenant have binding on the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetparties.
Appears in 1 contract
Default by Landlord. It is agreed that in the event Landlord fails or refuses to perform any of the provisions, covenants or conditions of this Lease on Landlord's pari to be kept or performed, that Tenant, prior to exercising any right or remedy Tenant may have against Landlord on account of such default, shall give a twenty (20) day written notice to Landlord of such default, specifying in said notice the default with which Landlord is charged. Notwithstanding any other provision hereof, Tenant agrees that if the default complained of in the notice provided for by this Section is of such a nature that the same can be rectified or cured by Landlord, but cannot with reasonable diligence be reclined or cured within said twenty (20) day period, then such default shall be deemed to be rectified or cured if Landlord within said twenty (20) day period shall commence the rectification and curing thereof and shall continue thereafter with all due diligence to cause such rectification and curing to proceed and so does complete the same, with the use of diligence as aforesaid. The liability of Landlord to Tenant for any default by Landlord under the terms of this Lease shall be limited to the lesser of: (i) the interest of Landlord in the Demised Premises; or (ii) the interest Landlord would have in the Demised Premises if the Demised Premises were encumbered by third party debt in an amount equal to eighty percent (80%) of the value of the Demised Premises (as such value is determined by Landlord) and Tenant agrees to look solely to such amount for recovery of any judgment from Landlord, it being intended that Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be personally liable hereunder to Tenant for any consequential damages judgment or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetdeficiency.
Appears in 1 contract
Default by Landlord. Except with respect to the specific notice and cure periods set forth in Section 11.5 of this Lease, Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for performanceits cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. Except to the extent Tenant obtains a final judgment of constructive eviction in accordance with applicable law or as otherwise permitted by applicable law, in no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx, and Tenant’s remedies shall be limited to any other remedy available at law damages and/or an injunction. This Lease and the obligations of Tenant hereunder shall not be affected or in equity; provided, however, notwithstanding anything in this Lease impaired because Landlord is unable to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform fulfill any of its repair and/or maintenance obligations under Subparagraph 13(b) hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord's performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease and does not cure such default within or the time period provided above, then Tenant negotiations which preceded this Lease shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expensebarred unless Tenant commences an action thereon, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure or interposes a defense by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenantreason thereof, within thirty one (301) days following Xxxxxxxx’s receipt year after the date of a written statementthe inaction, for all reasonable and actual costs incurred by Xxxxxx in performing omission, event or action that gave rise to such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodclaim, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courtdemand, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetor defense.
Appears in 1 contract
Samples: Office Lease (Opko Health, Inc.)
Default by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust encumbering the Premises whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for performanceits cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s 's default; Xxxxxx’s , and Tenant's remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and and/or an injunction. Tenant hereby waives any its right to recover lost profits or punitive damages arising out of a Landlord default. This Lease and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained obligations of Tenant hereunder shall not be interpreted affected or impaired because Landlord is unable to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform fulfill any of its repair and/or maintenance obligations under Subparagraph 13(b) hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord's performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease and does not cure such default within or the time period provided above, then Tenant negotiations which preceded this Lease shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expensebarred unless Tenant commences an action thereon, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure or interposes a defense by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenantreason thereof, within thirty twelve (3012) days following Xxxxxxxx’s receipt months after the date of a written statementthe inaction, for all reasonable and actual costs incurred by Xxxxxx in performing omission, event or action that gave rise to such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodclaim, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courtdemand, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetor defense.
Appears in 1 contract
Samples: Homegrocer Com Inc
Default by Landlord. Landlord shall not be considered to be in default in the performance of any obligation to be performed by Landlord under this Lease unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after the date of delivery of written notice of such failure by Tenant to Landlord and each Holder of whose identity Tenant has been notified in writing; provided, however, that (i) if such failure cannot reasonably be cured within said thirty (30) day period (other than Landlord’s payment of any monetary obligation to Tenant), Landlord shall not be in default hereunder unless Landlord fails to perform commence the obligations required cure of Landlord said failure as soon as reasonably practicable under the circumstances, or fails diligently to pursue the same to completion; and (b) each Holder of whose identity Tenant has been notified in writing shall have failed to cure such default within thirty (30) days (or such longer period of time as may be specified in any written agreement between Tenant and such Holder regarding such matter) after receipt of written notice by from Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation failure to cure within the time periods provided above (a “Landlord Default”). However, if Tenant notifies Landlord that Landlord’s failure is such that more than thirty (30) days is required for performancecausing material interference to Tenant’s operations, then Landlord shall not be in default if Landlord commences performance within commence the cure as soon as reasonably possible and shall diligently pursue such thirty (30) day period cure and thereafter diligently prosecutes will use commercially reasonable efforts to keep Tenant informed as to the same to completion. In no event shall Tenant have the right to terminate this Lease as a result status of Landlord’s default; Xxxxxx’s cure efforts. In the event of a Landlord Default, Tenant shall use reasonable efforts to mitigate its damages and losses arising from any such Landlord Default and Tenant may pursue any and all remedies shall be limited available to any other remedy available it at law or in equity; provided, however, notwithstanding anything in no event shall Tenant claim a constructive or actual eviction or that the Premises have become unsuitable or untenantable prior to a Landlord Default and failure to cure by Landlord and its Holder under this Lease and, further, in no event shall Tenant be entitled to the contraryterminate this Lease or receive more than its actual direct damages arising from any Landlord Default, it being agreed that for all purposes under no circumstances shall Landlord be liable hereunder to this Lease, Tenant waives any claim it otherwise may have for any special or consequential damages or for any damages attributable to lost profits or revenue or loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted interruption to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetoperations.
Appears in 1 contract
Samples: Office Lease Agreement (On24 Inc)
Default by Landlord. So long as the Security Deed remains outstanding and unsatisfied, Tenant will mail or deliver to Lender, at the address and in the manner herein provided, a copy of all notices permitted or required to be given to Landlord shall not be by Tenant under and pursuant to the terms and provisions of the Lease. In addition thereto, so long as the Security Deed remains outstanding and unsatisfied, Tenant will mail or deliver to Lender, at the address and in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after manner hereinabove provided, written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxxor claimed default of Landlord under the Lease. Notwithstanding anything If Landlord shall fail to the contrary contained in this Lease, if Landlord fails to perform cure any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided aboveprescribed by the Lease, then Tenant shall be give further notice of such fact to Lender. At any time before the rights of Landlord shall have been forfeited or adversely affected because of any default of Landlord, or within the time permitted to perform such repair and/or maintenance Landlord for curing any default under the Lease as therein provided, Lender may, but shall have no obligation on Landlord’s behalf to, pay any taxes and at Landlord’s sole cost assessments, make any repairs and expenseimprovements, provided Tenant first delivers to make any deposits or do any other act or thing required of Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligationsby the terms of the Lease, and provided all payments so made and all things so done and performed by Lender shall be as effective to prevent the rights of Landlord fails to commence such cure within such additional two (2) business day periodfrom being forfeited or adversely affected because of any default under the Lease as the same would have been if done and performed by Landlord. Tenant acknowledges agrees that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless notwithstanding any provisions of the same contains the following language (in at least 12 pointLease, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant no notice of a default by Landlord under Subparagraph 13(b) above cancellation or abatement shall be performed in accordance with provisions effective unless Lender has received notice as herein provided, which gave rise to such right of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetcancellation or abatement.
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (Witness Systems Inc)
Default by Landlord. In the event of any default by Landlord, Tenant shall have the right to bring an action for actual damages, but prior to any such action Tenant will give Landlord written notice specifying such default with particularity, and Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required have a period of Landlord within thirty (30) days after written following the date of such notice by Tenant in which to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform commence the appropriate cure of such obligation; provideddefault, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord which cure shall not thereafter be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same pursued to completion. Unless and until Landlord fails to commence and diligently pursue the appropriate cure of such default after such notice or complete same within a reasonable period of time, Tenant shall not have any remedy or cause of action by reason thereof (except in the case of emergency as provided below). In the event of any breach or default by Landlord of any term or provision of this Sublease, Tenant agrees to look solely to the equity or interest then-owned by Landlord in the Building, and in no event shall Tenant have the right any deficiency judgment be sought or obtained against Landlord. In addition to terminate this Lease as a result of Landlord’s default; Xxxxxx’s Tenant's other remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Leasehereunder, if Landlord fails to perform defaults in the performance of any of its repair and/or maintenance obligations obligation imposed on it under Subparagraph 13(b) of this Lease Sublease and does not cure such default within the time period as provided above, then Tenant Tenant, without waiver of or prejudice to any other right or remedy it may have, shall be have the right, to the extent permitted by the Master Lease, at any time thereafter, to perform cure such repair and/or maintenance obligation on default for the account of the Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails shall reimburse Tenant upon invoice for any amount paid and any expense or contractual liability so incurred. In the event of emergency, or where necessary to commence such prevent injury to persons or damage to property or to mitigate damages, and to the extent permitted by the Master Lease, Tenant may cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to before the expiration of such thirty (30) day the waiting period, Tenant may at its election bring an action for damages against but after giving such written or oral notice to Landlord on account thereof. In as is reasonably practical under all of the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetcircumstances.
Appears in 1 contract
Samples: Sublease Agreement (A21 Inc)
Default by Landlord. Landlord shall not be in default hereunder unless of this Lease if Landlord fails to perform the any of its obligations required of Landlord under this Lease within thirty (30) days after receipt of written notice by from Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined specifying such failure in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; the case of non-monetary obligations, provided, however, that if the nature of Landlord’s obligation such default is such that more than it cannot reasonably be cured within such period, then, upon notice to Tenant, Landlord shall have such additional time as is reasonably required to cure such default, provided that Landlord commences to cure the default within such period and proceeds to complete such cure with diligence and continuity. If Landlord fails to perform its obligations as set forth above, Tenant may, at its option, in addition to any other remedies at law or equity, incur any expense necessary to perform the obligations of Landlord specified in such notice on Landlord's behalf as Landlord's agent (but Landlord shall remain responsible for such work), in which event Landlord shall reimburse Tenant for the actual costs incurred by Tenant within thirty (30) days is required for performance, then after receipt of an invoice therefor. If Landlord shall not be in default if Landlord commences performance fails to pay such costs within such thirty (30) day period days after receipt of an invoice therefor, then in addition to all other rights and thereafter diligently prosecutes remedies that Tenant may have against Landlord (but without duplication in recovering the same amounts due Tenant), Tenant shall be entitled to completiondeduct the unpaid and overdue amount of such costs from the Rent otherwise becoming due hereunder, together with interest on the unpaid balance thereof at the Default Rate from the date originally due. In no event Notwithstanding the foregoing, Tenant shall not have the right to make any repairs on behalf of Landlord outside of the Premises other than the Common Areas within ten (10) feet of the Premises. If Landlord’s default materially affects Tenant’s business, as reasonably determined by Tenant and such default continues for thirty (30) days after a second written notice from Landlord to Tenant, Tenant shall have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior upon written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offset.
Appears in 1 contract
Samples: Lease Agreement (DSW Inc.)
Default by Landlord. Except with respect to the specific notice and cure periods set forth in Section 11.5 of this Lease, Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is are required for performanceits cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx, and Tenant’s remedies shall be limited to any other remedy available at law damages and/or an injunction. This Lease and the obligations of Tenant hereunder shall not be affected or in equity; provided, however, notwithstanding anything in this Lease impaired because Landlord is unable to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform fulfill any of its repair and/or maintenance obligations under Subparagraph 13(b) hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord’s performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease and does not cure such default within or the time period provided above, then Tenant negotiations which preceded this Lease shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expensebarred unless Tenant commences an action thereon, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure or interposes a defense by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenantreason thereof, within thirty six (306) days following Xxxxxxxx’s receipt months after the date of a written statementthe inaction, for all reasonable and actual costs incurred by Xxxxxx in performing omission, event or action that gave rise to such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodclaim, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the courtdemand, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetor defense.
Appears in 1 contract
Samples: Office Lease (Ladenburg Thalmann Financial Services Inc)
Default by Landlord. If Landlord shall not be in default hereunder unless Landlord fails from time to perform the obligations required of Landlord within time fail to pay any sum or sums due to Tenant and if such failure continues for thirty (30) days after written receipt of notice from Tenant of such default, then such failure, subject to the immediately succeeding sentence, shall be a “Landlord Payment Default”. Upon the occurrence and continuation of a Landlord Payment Default, Tenant shall have the right and is hereby irrevocably authorized and directed to deduct such sum or sums from Fixed Rent and other sums due Landlord, together with interest thereon at the so-called prime rate charged from time to time by Tenant XX Xxxxxx Chase Bank (or its successors and assigns), plus two percent (2%) until fully reimbursed (the “Default Rate”). If Landlord shall from time to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed time fail to perform any act or acts required of Landlord by this Lease and if such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than failure continues for thirty (30) days after receipt of notice from Tenant of such failure (such failure, subject to the immediately succeeding sentence, a “Landlord Performance Default”), Tenant shall then have the right, in addition to such remedies as may be available under law or in equity, at Tenant’s option, to perform such act or acts, in such manner as Tenant deems reasonably necessary, and the full amount of the cost and expense so incurred shall immediately be owing by Landlord to Tenant, and Tenant shall have the right and is required for performancehereby irrevocably authorized and directed to deduct such amount from Fixed Rent and other sums due Landlord, then Landlord shall together with interest thereon at the Default Rate until fully reimbursed by Landlord. Notwithstanding the foregoing, if such failure, despite commercially reasonable efforts to cure it, cannot be cured in default if Landlord commences performance within such thirty (30) day period days and thereafter Landlord shall in good faith within said thirty (30) days commence to correct such failure, and diligently prosecutes the same proceed therewith to completion. In no event shall Tenant have the right to terminate this Lease as a result completion of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided abovecorrection, then a Landlord Performance Default shall not be deemed to have occurred. If a condition that would constitute a Landlord Performance Default constitutes an imminent threat of harm to Tenant, the Premises or persons upon the Premises, Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf take immediate curative action and Landlord shall reimburse Tenant the costs thereof, plus interest at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two the Default Rate (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided or if Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt Tenant shall have a right of a written statement, setoff for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day periodsame); provided, Tenant may at its election bring an shall notify Landlord of the condition and Tenant’s curative action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetas promptly as reasonably possible.
Appears in 1 contract
Default by Landlord. The failure of Landlord to observe and perform ------------------- any provision of this Lease to be observed and performed by Landlord, where such failure continues for thirty (30) days after notice by Tenant to Landlord (provided, however, that if the cure of such failure requires, despite the use of diligent efforts, a period in excess of thirty (30) days, then such thirty (30) day period shall not be extended for so long as Landlord pursues the cure thereof with reasonable diligence) shall constitute a default under this Lease by Landlord. Provided that Tenant receives written notice of the name and address of any lender to Landlord that is the beneficiary of a deed of trust that encumbers the Premises, Tenant hereby covenants to give such lender written notice of any failure by Landlord to observe and perform any provision of this Lease to be observed and performed by Landlord, which notice shall be given simultaneously with, and in the same manner as, the notice of such failure given by Tenant to Landlord. Furthermore, Tenant hereby covenants to accept the cure of such failure by such lender provided that such cure occurs within thirty (30) days after receipt of such notice by such lender; provided further, however, that if such cure requires,despite the use of diligent efforts, a period in excess of thirty (30) days, then such thirty (30) day period shall be extended for so long as such lender pursues the cure thereof with reasonable diligence. Notwithstanding the foregoing, such lender shall in no case be obligated to cure any failure by Landlord. Upon the occurrence of a default hereunder unless by Landlord, Tenant may pursue any remedy provided under this Lease or by law, subject to any provisions of this Lease limiting Tenant's remedies (including, without limitation, the provisions of Section 15.1). Without limiting the remedies ------------- otherwise conferred upon Tenant, if Landlord fails to perform a repair which it is obligated to perform under this Lease and such failure continues for fifteen (15) days after notice by Tenant to Landlord (provided, however, that if the obligations required cure of such failure requires, despite the use of diligent efforts, a period in excess of fifteen (15) days, then such fifteen (15) day period shall be extended for so long as Landlord pursues the cure thereof with reasonable diligence), then Tenant shall have the right (but not the obligation) to perform such repair on Landlord's behalf and any reasonable amount which Tenant spends in performing such repair shall be repaid by Landlord within thirty (30) days after written notice by Tenant delivery to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if of a copy of the nature of Landlord’s obligation is such that more than thirty (30) days is required invoice for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant together with proof of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account payment thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offset.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Default by Landlord. In the event of any default by Landlord, Tenant's exclusive remedy shall be an action for actual direct damages (Tenant hereby waiving the benefit of any laws granting it a lien upon the property of Landlord and/or upon rent due Landlord), but prior to any such action Tenant will give Landlord written notice specifying such default with particularity, and Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thereupon have thirty (30) days in which to cure any such default. Unless and until Landlord fails to so cure any default after written notice such notice, Tenant shall not have any remedy or cause of action by Tenant to reason thereof. All obligations of Landlord hereunder will be construed as covenants, not conditions, and to all such obligations will be binding upon Landlord only during the period of its possession of the Premises and not thereafter. The term "Landlord" shall mean only the owner, for the time being of the Premises, and in the event of the transfer by such owner of its interest in the Premises, such owner shall thereupon be released and discharged from all covenants and obligations of the Landlord thereafter accruing, but such covenants and obligations shall be binding during the lease term upon each new owner for the duration of such owner's ownership. Notwithstanding any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; providedother provision hereof, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereofpersonal liability hereunder. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment breach or default by Landlord in any term or provision of Basic Rent next due this Lease, Tenant agrees to look solely to the equity or interest then owned by Landlord and in the Property, however, in no event, shall any succeeding monthly installments deficiency judgment or any money judgment of Basic Rent until fully satisfied from such offsetany kind be sought or obtained against any Landlord.
Appears in 1 contract
Samples: Deed of Lease Agreement (Exigent International Inc)
Default by Landlord. Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations an obligation required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any each Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing of which Tenant has received prior written notice, specifying wherein Landlord has failed to perform such obligationthe nature of the alleged default; provided, however, that if the nature of Landlord’s the obligation is such that more than thirty (30) days is are required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have agrees to give each Mortgagee, at the right same time Tenant delivers written notice to terminate this Lease as Landlord, by registered or certified mail or nationally recognized overnight delivery service, a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result copy of any notice of default served upon Landlord by XxxxxxxxTenant, provided that, prior to such notice, Tenant has been notified in writing (by way of service on Tenant of a copy of assignment of rents and leases or otherwise) of the address of such Mortgagee. Notwithstanding anything to the contrary contained in this Lease, Tenant further agrees that if Landlord fails shall have failed to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statementafter such notice to Landlord (or if such default cannot be cured or corrected within that time, for all reasonable and actual costs incurred by Xxxxxx in performing then such obligations on behalf of Landlord. If additional time as may be necessary if Landlord fails to pay such amount prior to the expiration of has commenced within such thirty (30) day periodperiod and is diligently pursuing the remedies or steps necessary to cure or correct such default), Tenant may at its election bring then any Mortgagee shall have an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within additional thirty (30) days following entry within which to cure or correct such default (or if such default cannot be cured or corrected within that time, then such additional time as may be necessary if such Mortgagee has commenced within such thirty (30) day period and is diligently pursuing the remedies or steps necessary to cure or correct such default). Notwithstanding the foregoing, in no event shall any Mortgagee have any obligation to cure any default of such Judgment Landlord. "MORTGAGEE" shall mean the holder of any mortgage or deed of trust secured by the courtBuilding or the real property on which the Building is located, then the master lessor under any master lease affecting the Building or the real property on which the Building is located, and/or the ground lessor under any ground lease affecting the Building or the real property on which the Building is located. If any event of default by Landlord has not been cured within the time periods provided for herein, Tenant shall have all rights and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetremedies afforded under Applicable Law in connection therewith.
Appears in 1 contract
Samples: Office Lease (Allos Therapeutics)
Default by Landlord. Landlord shall be in default under this Lease if Landlord fails to perform any of its obligations hereunder and such failure continues for a period of thirty (30) days after Tenant delivers written notice of such failure to Landlord, provided that if such failure cannot reasonably be cured within such thirty (30) day period, Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if long as Landlord commences performance the remedying of such failure within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right If, Landlord should fail to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to make any other remedy available at law payment, perform any obligation, or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of cure any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Leasehereunder, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers after 30 days notice to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing or such obligations, and longer period as is necessary to cure the same provided Landlord fails to commence commences such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within said thirty (30) days following Xxxxxxxx’s receipt and thereafter diligently prosecutes the same, Tenant, without obligation to do so and without thereby waiving such failure or default, may, after giving fifteen (15) days additional notice to Landlord and any mortgagee of a written statementwhose address Tenant has been informed (unless such cure is completed within said fifteen (15) days or, if the same cannot reasonably be cured within said fifteen (15) day period, unless such cure is commenced within such fifteen (15) days and thereafter diligently prosecuted) make such payment, perform such obligation, and/or remedy such other default for the account of Landlord. Landlord shall immediately pay to Tenant upon demand all reasonable and actual costs incurred by Xxxxxx in performing of Tenant remedying such obligations on behalf default of Landlord. If Landlord fails to does not promptly pay such amount prior costs upon demand or if Landlord disputes whether such default occurred or costs are due then the parties hereby agree that either party may submit such dispute to binding arbitration before the expiration American Arbitration Association with such arbitration to be heard on an expedited basis and in accordance with the then applicable rules of such thirty (30) day periodthe American Arbitration Association for arbitrating commercial disputes. To the extent of any arbitration decision or award determined in favor of Tenant, Tenant may at its election bring shall be entitled to apply all costs incurred by Tenant in taking such remedial action as an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent 25% of the Rent (25%as defined in Section 1(c) of hereof) at any monthly installment of Basic Rent time next due Landlord and any succeeding monthly installments from time to time hereunder until all of Basic Rent until fully satisfied from such offsetcosts have been so applied or otherwise reimbursed to Tenant.
Appears in 1 contract
Samples: Lease Agreement (Mykrolis Corp)
Default by Landlord. So long as the Deed remains outstanding and unsatisfied, Tenant will mail or deliver to Lender, at the address and in the manner herein provided, a copy of all notices permitted or required to be given to Landlord by Tenant under and pursuant to the terms and provisions of the Lease. In addition thereto, so long as the Deed remains outstanding and unsatisfied, Tenant will mail or deliver to Lender, at the address and in the manner hereinabove provided, written notice of any default or claimed default of Landlord under the Lease (whether or not Tenant is obligated under the Lease to give written notice thereof to Landlord). If Landlord shall not be in fail to cure any default hereunder unless Landlord fails within the time prescribed by the Lease, Tenant shall give further notice of such fact to perform Lender. At any time before the obligations required rights of Landlord within thirty (30) days after written notice by Tenant to Landlord and to shall have been forfeited or adversely affected because of any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature default of Landlord’s obligation is such that more , or within the time permitted Landlord for curing any default under the Lease as therein provided (but not less than thirty (30) days is from the receipt of notice), Lender may, but shall have no obligation to, pay any taxes and assessments, make any repairs and improvements, make any deposits or do any other act or thing required for performanceof Landlord by the terms of the Lease, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies all payments so made and all things so done and performed by Lender shall be limited as effective to any other remedy available at law prevent the rights of Landlord from being forfeited or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result adversely affected because of any default under the Lease as the same would have been if done and performed by XxxxxxxxLandlord. Notwithstanding anything to Tenant agrees that notwithstanding any provisions of the contrary contained in this Lease, if Landlord fails to perform any no notice of cancellation shall be effective unless Lender has received notice as herein provided, and Lender has failed within sixty (60) days of its repair and/or maintenance obligations under Subparagraph 13(breceipt of such notice to cure the default, or if the default cannot be cured within sixty (60) of this Lease and does not cure such default within the time period provided abovedays, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails has failed to commence such cure within such additional two and diligently prosecute the curing of the default (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will which may include, but not be deemed given limited to, commencement of foreclosure proceedings, if necessary to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2effect such cure) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any which gave rise to such cure by Tenant right of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetcancellation.
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (Edutrek Int Inc)
Default by Landlord. Except with respect to the specific notice and cure periods set forth in Section 11.5 of this Lease, Landlord shall not be in default hereunder under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee mortgage or Ground Lessor (as defined deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in Subparagraph 34(m) below) in writing writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for performanceits cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes pursues the same to completion. In no event Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. Tenant shall Tenant only have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx, which default remains uncured after any applicable cure period, and where the default materially impacts Tenant’s remedies use of the Premises. This Lease and the obligations of Tenant hereunder shall not be limited affected or impaired because Landlord is unable to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform fulfill any of its repair and/or maintenance obligations under Subparagraph 13(b) hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord's performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease and does not cure such default within or the time period provided above, then Tenant negotiations which preceded this Lease shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expensebarred unless Tenant commences an action thereon, provided Tenant first delivers to Landlord an additional two or interposes a defense by reason thereof, within one (21) business days prior written notice (“year after the date of Tenant’s Self-Help Notice”) actual notice of the inaction, omission, event or action that Tenant will be performing gave rise to such obligationsclaim, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 pointdemand, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetor defense.
Appears in 1 contract
Samples: Office Lease (Vector Group LTD)
Default by Landlord. Except as otherwise expressly provided in this Lease, Landlord shall not be in default hereunder in the performance of any obligation required to be performed under this Lease unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligationobligation within CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION after the receipt of notice from Tenant specifying in detail Landlord's failure to perform; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION are required for its performance, then the Landlord shall not be deemed in default if Landlord commences it shall commence such performance within such thirty (30) day period CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION and thereafter diligently prosecutes pursues the same to completion. In Tenant shall have no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder rights as a result of any default by XxxxxxxxLandlord until Tenant gives CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION notice to the then current lender(s) who have a recorded interest pertaining to the Building, specifying the nature of the default. Such person shall then have the right to cure such default, and Landlord shall not be deemed in default if such person cures such default within CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION after receipt of notice of the default, or within such longer period of time as may reasonably be necessary to cure the default. If Landlord or such person does not cure the default, Tenant may exercise such rights or remedies or shall be provided or permitted by law to recover any damages proximately caused by such default. Notwithstanding anything to the contrary contained in the Lease, Tenant's remedy for any breach of the Lease by Landlord shall be limited to an action for damages. Tenant agrees that, in the event that it becomes entitled to receive damages from Landlord, Tenant shall not be allowed to recover from Landlord consequential damages or damages in excess of the out-of-pocket expenditures incurred by Tenant as a result of a default by Landlord. In any event, Landlord's liability to Tenant for damages resulting from Landlord's breach of any provision or provisions of the Lease shall not exceed the value of Landlord's equity interest in the Building. Except as expressly provided otherwise in this Lease, if Landlord fails Tenant hereby waives and relinquishes any right which Tenant may have to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of terminate this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure or withhold any payment owed by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this the Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment damage, condemnation, destruction or state of Basic Rent next due Landlord disrepair of the Premises (including, without limiting the generality of the foregoing, those rights under California Civil Code Sections 1932, 1933(4), 1941, 1941.1 and any succeeding monthly installments of Basic Rent until fully satisfied from such offset1942).
Appears in 1 contract
Samples: Lease Agreement (Brilliant Digital Entertainment Inc)
Default by Landlord. Landlord In the event of any alleged default on the part of Landlord, Tenant shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written give notice by Tenant to Landlord and afford Landlord a reasonable opportunity to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform cure such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completiondefault. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s remedies Such notice shall be limited to any other remedy available at law or ineffective unless a copy is simultaneously also delivered in equity; provided, however, notwithstanding anything the manner required in this Lease to any holder of a mortgage and/or deed of trust affecting all or any portion of the contraryBuilding Complex (collectively, under "Mortgagee"), provided that prior to such notice Tenant has been notified (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of a Mortgagee. If Landlord fails to cure such default within the time provided, then Mortgagee shall have an additional 30 days following a second notice from Tenant or, if such default cannot be cured within that time, such additional time as may be necessary provided within such 30 days, Mortgagee commences and diligently pursues a cure (including commencement of foreclosure proceedings if necessary to effect such cure). Tenant's sole remedy will be equitable relief or actual damages but in no circumstances shall event is Landlord be liable hereunder to Tenant or any Mortgagee responsible for any consequential damages or for loss of business, revenue, income or profits and lost profit incurred by Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails a Mortgagee, or transferee under such Mortgage (hereafter defined), succeeds to Landlord's interest as a result of foreclosure or otherwise, such party shall not be: (i) liable for any default, nor subject to any setoff or defenses that Tenant may have against Landlord, for a default occurring prior to such transfer or succession; (ii) bound by any amendment (including an agreement for early termination) without its consent made at any time after notice to Tenant that such Mortgage requires such consent; and (ii) bound by payment of Rent in advance for more than 30 days. Tenant agrees to pay such amount prior Rent (and will receive credit under this Lease) as directed in any Mortgagee's notice of Landlord's default under the Mortgage reciting that Mortgagee is entitled to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetcollect Rent.
Appears in 1 contract
Samples: Lease Agreement (Verio Inc)
Default by Landlord. Landlord shall not be deemed to be in default hereunder in the performance of any obligation required to be performed by it under this Lease unless Landlord fails and until it has failed to perform the obligations required of Landlord such obligation within thirty (30) days after written notice by Tenant to Landlord Landlord, and to any Mortgagee mortgagee or Ground Lessor (as defined beneficiary of a deed of trust with an interest in Subparagraph 34(m) below) any encumbrance affecting Landlord's interest in writing the Premises, specifying wherein Landlord has failed to perform in reasonable detail the nature and extent of any such obligationfailure; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty (30) days is are required for its performance, then Landlord shall not be deemed to be in default if Landlord it commences such performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event If, after notice to Landlord of default, Landlord fails to cure such default as provided herein, then Tenant shall have the right to cure such default at Landlord's expense. Tenant shall not have the right to terminate this Lease as a result or to withhold, reduce or offset any amount against any payments of Landlord’s default; Xxxxxx’s remedies basic annual rent or any other charges due and payable hereunder, and Tenant's remedy shall be limited to damages and/or an injunction. It is expressly understood and agreed to that any money judgment resulting from any default or other remedy available at claim arising under this Lease shall be satisfied only out of the rents, issues, profits or other income ("Income") actually received from the operation of the Building and no other real, personal or mixed property of Landlord (the term "Landlord" for purposes of this Section only shall mean any and all investors, owners, managers and agents, if any, of Landlord), wherever situated, shall be subject to levy on any such judgment obtained against Landlord and whether or not such Income is sufficient for the payment of such judgment, Tenant will not institute any further action, suit, claim or demand, in law or in equity; provided, howeveragainst Landlord for or on the account of such deficiency. Tenant hereby waives, notwithstanding anything in this Lease to the contraryextent waivable under law, under no circumstances shall Landlord be liable hereunder any right to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary satisfy said money judgment against Landlord except from a court Income received by Landlord for the operation of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetBuilding.
Appears in 1 contract
Samples: DVD Express Inc
Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty a reasonable time, but in no event later than forty-five (3045) days after written notice by Tenant to Landlord and to the holder of any Mortgagee first mortgage or Ground Lessor (as defined in Subparagraph 34(m) below) deed of trust covering the Premises, or the lessor of any underlying or ground lease affecting the Project, in writing specifying wherein Landlord has failed to perform such obligation, OR IF LANDLORD FAILS TO MAINTAIN THE INSURANCE REQUIRED UNDER PARAGRAPH 16 HEREOF; provided, however, that if the nature of Landlord’s 's obligation is such that more than thirty forty-five (3045) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty forty-five (3045) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s 's default; Xxxxxx’s Tenant's remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing Nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxxlandlord. Notwithstanding anything to the contrary contained in this LeaseIN THE EVENT OF DAMAGE TO THE PORTIONS OF THE PREMISES WHICH LANDLORD IS OBLIGATED TO REPAIR AND MAINTAIN UNDER THIS LEASE AND WHICH AFFECT THE PREMISES TO SUCH AN EXTENT (A) AS TO CAUSE AN IMMINENT THREAT OF INJURY TO PERSONS OR DAMAGE TO PERSONAL PROPERTY WITHIN THE PREMISES, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(bOR (B) of this Lease and does not cure such default within the time period provided aboveAS TO PREVENT TENANT'S OCCUPANCY OR USE OF ALL OR ANY MATERIAL PORTION OF THE PREMISES FOR ITS EXISTING PERMITTED USES, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expenseIF LANDLORD FAILS TO RESPOND WITHIN SEVENTY-TOW (72) HOURS AFTER NOTICE FROM TENANT THEN TENANT SHALL HAVE THE RIGHT (SO LONG AS TENANT IS NOT IN DEFAULT UNDER THIS LEASE) TO UNDERTAKE REPAIRS, provided Tenant first delivers to Landlord an additional two TO THE EXTENT NECESSARY ONLY TO SECURE THE PREMISES FROM THE IMMINENT THREAT OF INJURY TO PERSONS OR DAMAGE TO PERSONAL PROPERTY OR TO ALLOW TENANT TO OPERATE ITS BUSINESS FORM THE PREMISES. THE COST OF SUCH REPAIRS SHALL BE BORNE BY TENANT, BUT SHALL BE SUBJECT TO REIMBURSEMENT FROM LANDLORD THROUGH WRITTEN REQUEST FOR PAYMENT ACCOMPANIED BY COPIES OF ITEMIZED, PAID INVOICES AND LIEN RELEASE WAIVERS EXECUTED BY ALL CONTRACTORS WHO PROVIDED SUCH REPAIR SERVICES, AND LANDLORD SHALL HAVE FORTY-FIVE (245) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING FROM RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT SUCH REQUEST AND ALL SUPPORTING DOCUMENTATION TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (the “Judgment”) and Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetPAY SUCH COSTS TO TENANT.
Appears in 1 contract
Samples: Global Directmail Corp
Default by Landlord. The following shall be deemed to a "Landlord shall not Default": (a) failure by Landlord to observe or perform any term or condition of this Lease to be in default hereunder unless Landlord fails to perform the obligations required observed or performed by Landlord; and (b) continuation of Landlord within thirty (30) such failure for 30 days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligationfrom Tenant; provided, however, provided that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord it shall not be in default a "Landlord Default" if such failure cannot be cured by Landlord within 30 days, despite reasonably diligent effort, so long as Landlord diligently commences performance to cure such failure within 15 days, and continues to pursue such thirty (30) day period and thereafter diligently prosecutes the same cure to completion. In no the event of a Landlord Default, Tenant shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Xxxxxx’s all rights or remedies shall be limited to any other remedy available at law or in equity; provided. With 33 respect to Landlord Defaults, howeverTenant shall have the right to perform such obligations on behalf of Landlord, notwithstanding anything without such performance being construed as a waiver of the Landlord Default or of any other right or remedy of Tenant with respect to such Landlord Default, or as a waiver of any term or condition of this Lease. Landlord shall pay to Tenant on demand all reasonable costs and expenses incurred by Tenant to perform any such obligations in accordance with the terms and conditions of this Lease Section. If any amount due to Tenant by Landlord hereunder shall become overdue for a period in excess of five days, then Landlord shall pay the Tenant interest on such unpaid amount from the date due to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss date of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in payment at the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result rate of any default by Xxxxxxxx1.5% per month. Notwithstanding anything to the contrary contained in this Leaseset forth herein, if if: (a) Landlord fails to perform any of its repair and/or maintenance obligations maintain the insurance required to be maintained by it under Subparagraph 13(bSubsection 16(a) of this Lease and does not cure hereof; (b) Tenant performs such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) the terms and conditions of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty Section; and (30c) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay to Tenant on demand all reasonable costs and expenses incurred by Tenant to perform such amount prior to obligation (the expiration of such thirty (30) day period, "Tenant Insurance Costs"); then Tenant may at its election bring an action for damages offset the Tenant Insurance Costs against payments of Rent. Upon any Landlord on account thereof. In the event Default, Landlord shall indemnify and hold harmless Tenant is able to obtain a unappealable monetary judgment against Landlord from a any and all claims, judgments, liabilities, losses, costs and expenses (including, without limitation, reasonable attorneys' fees and court of competent jurisdiction costs) incurred by Tenant and arising from, or in connection with, a Landlord Default or the exercise by Tenant of its rights and remedies with said action (the “Judgment”) and respect to such Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetDefault.
Appears in 1 contract
Samples: Lease (Brightpoint Inc)
Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform a material obligation hereunder within the obligations time periods set forth herein, or if no time period is indicated, then within a reasonable time, after written notice of default by Tenant to Landlord. RECONSTRUCTION If the Premises are totally destroyed by storm, fire, lightning, earthquake or other casualty, this Lease shall terminate as of the date of such destruction, and all rent shall be accounted for as between Landlord and Tenant through such date. If the Premises are damaged but not wholly destroyed by any of such casualties, so long as Tenant has functional space in order to run its business in a normal fashion and in accordance with applicable law, this Lease shall not terminate and, rent shall xxxxx in such proportion as use of the Premises has been destroyed, and Landlord shall restore the Premises to substantially the same condition as before damage as speedily as practicable, whereupon full rent shall recommence; provided, however, that in the event of such partial destruction, Landlord or Tenant shall have the option (in lieu of any restoration obligation) to terminate this Lease, by notice to the other given within thirty (30) calendar days following such damage, if either (i) the cost of such restoration (whether or not compensated for by insurance) shall exceed the annual fixed rent then payable under Paragraph 4; or (ii) such damage reduced the gross rentable floor area of the Premises by fifty (50%) percent or more or, if such damage occurs during the last half of the term of this Lease, twenty-five (25%) percent or more or (iii) the cost of such restoration exceeds the amount of casualty insurance on the Premises maintained by Landlord; (iv) or the required restoration cannot be completed within 180 days of the damage, Tenant shall place personal property and install fixtures in the Premises at Tenant’s sole risk and expense. No insurance carried by Landlord will provide coverage of any kind for such personal property and fixtures. If the Center shall be damaged by storm, fire, lightning, earthquake or other casualty, and such damage reduces by more than twenty-five (25%) percent the gross rentable floor area of the Center, Landlord shall have the option to terminate this Lease regardless of whether or not such casualty damages the Premises and whether or not the restoration of such damage would be compensated by insurance. Landlord shall notify Tenant in writing within thirty (30) days after written notice by Tenant the occurrence of any such casualty if Landlord intends to Landlord and to so terminate this Lease; any Mortgagee or Ground Lessor (such termination shall be effective as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform of the date of such obligation; providedcasualty. Provided, however, that if the nature of LandlordTenant’s obligation is such that more than thirty (30) days is required for performance, then Landlord to pay rent hereunder shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease continue so long as a result of Landlord’s default; Xxxxxx’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result in possession of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease Premises and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless Premises is usable for the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed purposes for which it was leased in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlord. If Landlord fails to pay such amount prior to the expiration of such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord on account thereofapplicable law. In the event Tenant is able such damage, destruction, or appropriation by eminent domain does not give rise to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in connection with said action (insurance or award for the “Judgment”) and Landlord fails Tenant, then the Landlord’s rights herein to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment cancel would be subject to repayment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) Landlord of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetTenant’s unamortized leasehold improvements.
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Default by Landlord. Landlord shall not be in default hereunder unless Landlord ------------------- fails to perform the obligations required of Landlord within a reasonable time, but in no event earlier than thirty (30) days after written notice by Tenant to Landlord and to the holder of any Mortgagee first mortgage or Ground Lessor (as defined in Subparagraph 34(m) below) in writing deed of trust covering the Premises specifying wherein Landlord has failed to perform such obligationobligations; provided, however, that if the nature of Landlord’s obligation 's obligations is such that more than thirty (30) days is are required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In If Landlord is in default of this lease, Tenant's sole remedy shall be to institute suit against Landlord in a court of competent jurisdiction, and Tenant shall have no event shall Tenant have the right to terminate this Lease offset any sums expended by Tenant as a result of Landlord’s default; Xxxxxx’s remedies shall be limited 's default against future rent and other sums due and payable pursuant to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Xxxxxxxx. Notwithstanding anything to the contrary contained in this Lease, if Landlord fails to perform any of its repair and/or maintenance obligations under Subparagraph 13(b) of this Lease and does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Xxxxxx’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Xxxxxxxx agrees to reimburse Tenant, within thirty (30) days following Xxxxxxxx’s receipt of a written statement, for all reasonable and actual costs incurred by Xxxxxx in performing such obligations on behalf of Landlordlease. If Landlord fails to pay such amount prior to the expiration is in default of such thirty (30) day periodthis lease, and as a consequence Tenant may at its election bring an action for damages against Landlord on account thereof. In the event Tenant is able to obtain recovers a unappealable monetary money judgment against Landlord, the judgment shall be satisfied only out of the proceeds of sale received on execution of the judgment and levy against the right, title and interest of Landlord in the Project of which the Premises are a part, and out of rent or other income from such real property receivable by Landlord or out of the consideration received by Landlord from the sale or other disposition of all or any part of Landlord's right, title and interest in the Project of which the Premises are a court part. Neither Landlord nor any of competent jurisdiction in connection with said action (the “Judgment”) and partners comprising the partnership designated as Landlord fails to pay the amount of such Judgment (the “Judgment Amount”) within thirty (30) days following entry of such Judgment by the court, then and only then shall Tenant have the right to offset the Judgment Amount against up to twenty-five percent (25%) of be personally liable for any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such offsetdeficiency.
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Samples: Lease (Atmi Inc)