Default by Landlord. Landlord shall be in default hereunder 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 cure such default within thirty (30) days after notice from Tenant specifying the default. Notwithstanding the foregoing, 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 to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by law.
Appears in 1 contract
Samples: Lease Agreement (Gevity Hr Inc)
Default by Landlord. If Landlord shall be defaults in default hereunder if Landlord (i) fails to perform the observance or observe performance of any covenant, warranty, condition or agreement obligation in this Lease on its part to be performed observed or observed by performed, 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 cure such default within have thirty (30) days after receiving written notice from Tenant specifying stating the default. Notwithstanding default complained of and referring to the foregoing, Landlord shall not be Article and Section in default under this Lease if the matter in question cannot reasonably relied on by Tenant, to cure or cause to be cured any such default, or if such default is not capable of being cured within the such thirty (30) day period as long as Landlord commences days to commence to cure the default within the same during such thirty (30) day period days and thereafter continuously diligently proceeds to complete the performance required proceed to cure such defaultthe same in good faith, with diligence, and within a reasonable period of time. Upon Landlord’s default and failure If Landlord fails to cure any such default or to diligently and in accordance 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 terms 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 Section 24Lease, 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 shall have the right may at its option, without waiving any claim for damages for breach of agreement, at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall agrees to reimburse Tenant for any amounts paid upon written demand by Tenant, therefor or (ii) if such default materially and adversely affects Tenant’s use of the Premises, save Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. harmless therefrom; provided that Tenant may cure any such default as aforesaid prior to the expiration of the said thirty (30) day period described in preceding paragraphif reasonably necessary to cure a default under any mortgage or encumbrance which is a lien on the Demised Premises, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary or to protect the Demised Premises or Tenant’s 's interest therein, or to prevent injury or damage to persons or property, or to permit enable Tenant to conduct its usual business operations in the Demised Premises. The remedies provided 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 this Section shall 3.1.4 hereof from the date of demand upon Landlord for payment, may be cumulative to those provided elsewhere herein deducted by Tenant from the next or by lawany succeeding payments of Annual Rent due hereunder.
Appears in 1 contract
Samples: Lease Agreement (Integrated Living Communities Inc)
Default by Landlord. Landlord shall not be in default hereunder if under this Lease unless Landlord (i) fails to perform or observe any covenantan obligation required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to each Mortgagee of which Tenant has received prior written notice, warrantyspecifying the nature of the alleged default; provided, condition or agreement in this Lease to be performed or observed by Landlord or however, that if the nature of the obligation is such that more than thirty (ii30) fails to pay any real estate taxes or any other charge when such payments days are required to for performance, then Landlord shall not be paid by Landlord which shall become a lien upon the Premises, and in default if Landlord fails commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. Tenant agrees to give each Mortgagee, at the same time Tenant delivers written notice to Landlord, by registered or certified mail or nationally recognized overnight delivery service, a copy of any notice of default served upon Landlord by Tenant, 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. Tenant further agrees that if Landlord shall have failed to cure such default within thirty (30) days after such notice from Tenant specifying the default. Notwithstanding the foregoing, to Landlord shall (or if such default cannot be in default under this Lease cured or corrected within that time, then such additional time as may be necessary if the matter in question cannot reasonably be cured Landlord has commenced within the thirty (30) day period as long as Landlord commences to cure the default within the such thirty (30) day period and thereafter continuously is diligently proceeds to complete pursuing the performance required remedies or steps necessary to cure or correct such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24), Tenant then any Mortgagee shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the an additional thirty (30) day period described in preceding paragraph, after such notice days within which to Landlord, if the curing of cure or correct such default prior to the expiration of (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 protect cure or correct such default). Notwithstanding the Premises foregoing, in no event shall any Mortgagee have any obligation to cure any default of Landlord. "MORTGAGEE" shall mean the holder of any mortgage or Tenant’s interest thereindeed of trust secured by the Building or the real property on which the Building is located, to prevent injury the master lessor under any master lease affecting the Building or damage to persons the real property on which the Building is located, and/or the ground lessor under any ground lease affecting the Building or propertythe 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, or to permit Tenant to conduct its usual business operations shall have all rights and remedies afforded under Applicable Law in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawconnection therewith.
Appears in 1 contract
Samples: Office Lease (Allos Therapeutics)
Default by Landlord. 20.1. It shall be a default under and breach of this Lease if Landlord shall be in default hereunder if Landlord (i) fails fail to perform or observe any covenantterm, warrantycondition, condition covenant or agreement in this Lease obligation required 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 it under this Lease for a lien upon the Premises, and if Landlord fails to cure such default within period of thirty (30) days after notice thereof to Landlord from Tenant, or any period less than thirty (30) days if an emergency exists that poses an immediate threat to life or Tenant's property or would have a material adverse affect on Tenant's operations ("Tenant specifying the default. Notwithstanding the foregoingEmergency"); provided, Landlord shall not be in default under this Lease however, that if the matter in question term, condition, covenant or obligation to be performed by Landlord is not a Tenant Emergency and is of such nature that the same cannot reasonably be cured performed within the such thirty (30) day period as long as period, such default shall be deemed to have been cured if Landlord commences to cure the default such performance within the said thirty (30) day period and thereafter diligently and continuously diligently proceeds to complete pursues and completes the performance required to cure such defaultsame within ninety (90) days of Tenant's original notice. Upon the occurrence and during the continuance of any such default by Landlord’s default , following Tenant's notice and failure to the applicable cure in accordance with period, Tenant may effect a cure on behalf of the terms Landlord and deduct the actual and reasonable costs of this Section 24such cure from any Minimum Rent thereafter coming due from Tenant under the Lease. Upon request from Landlord, Tenant shall provide Landlord with satisfactory evidence detailing Tenant's actual costs of cure.
20.2. If the holder of record of any mortgage(s) covering all or any portion of Landlord's Parcel shall have given prior notice to Tenant that it is the holder thereof and such notice includes the address at which notices to such mortgagee(s) are to be sent, then Tenant shall give to said holder notice simultaneously with any notice given to Landlord to correct any default of Landlord as hereinabove provided. The holder of record of such mortgage(s) shall have the right at any time thereafter to (i) cure such default for right, but not the account of Landlordobligation, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the within thirty (30) day period described in preceding paragraphdays after receipt of said notice, after to correct or remedy such notice to Landlord, if the curing default before Tenant may take any action under this Lease by reason of such default; provided, however, that if such default prior to the expiration of such cannot by its nature be cured within said thirty (30) day period days, then Tenant shall not take any action under this Lease by reason of such default provided the correction or remedy of such default commences within said thirty (30) days and is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premisesdiligently prosecuted thereafter. The remedies provided in this Section Any notice of default given Landlord shall be cumulative null and void unless simultaneous notice has been given to those provided elsewhere herein or by lawsaid mortgagee(s).
Appears in 1 contract
Default by Landlord. Landlord shall not be in default hereunder if under this Lease unless Landlord (i) fails to perform or observe any covenantan obligation required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to each Mortgagee of which Tenant has received prior written notice, warrantyspecifying the nature of the alleged default; provided, condition or agreement in this Lease to be performed or observed by Landlord or however, that if the nature of the obligation is such that more than thirty (ii30) fails to pay any real estate taxes or any other charge when such payments days are required to for performance, then Landlord shall not be paid by Landlord which shall become a lien upon the Premises, and in default if Landlord fails commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. Tenant agrees to give each Mortgagee, at the same time Tenant delivers written notice to Landlord, by registered or certified mail or nationally recognized overnight delivery service, a copy of any notice of default served upon Landlord by Tenant, 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. Tenant further agrees that if Landlord shall have failed to cure such default within thirty (30) days after such notice from Tenant specifying the default. Notwithstanding the foregoing, to Landlord shall (or if such default cannot be in default under this Lease cured or corrected within that time, then such additional time as may be necessary if the matter in question cannot reasonably be cured Landlord has commenced within the thirty (30) day period as long as Landlord commences to cure the default within the such thirty (30) day period and thereafter continuously is diligently proceeds to complete pursuing the performance required remedies or steps necessary to cure or correct such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24), Tenant then any Mortgagee shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the an additional thirty (30) day period described in preceding paragraph, after such notice days within which to Landlord, if the curing of cure or correct such default prior to the expiration of (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 protect cure or correct such default). Notwithstanding the Premises foregoing, in no event shall any Mortgagee have any obligation to cure any default of Landlord. "Mortgagee" shall mean the holder of any mortgage or Tenant’s interest thereindeed of trust secured by the Building or the real property on which the Building is located, to prevent injury the master lessor under any master lease affecting the Building or damage to persons the real property on which the Building is located, and/or the ground lessor under any ground lease affecting the Building or propertythe 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, or to permit Tenant to conduct its usual business operations shall have all rights and remedies afforded under Applicable Law in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawconnection therewith.
Appears in 1 contract
Default by Landlord. In the event of any default by Landlord, Tenant shall have all remedies available at law or in equity, but prior to any exercise of any remedy, Tenant will give Landlord written notice specifying such default with particularity, and Landlord shall be in default hereunder 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 have a lien upon the Premises, and if Landlord fails to cure such default within period of thirty (30) days after following the date of such notice from Tenant specifying the in which to cure such default. Notwithstanding the foregoing; provided, Landlord shall not be in however, that if such default under this Lease if the matter in question cannot reasonably be cured within the requires more than thirty (30) day period as long as days to cure, Landlord shall have a reasonable time to cure the default provided Landlord commences to cure the default within the such thirty (30) day period and thereafter continuously diligently proceeds prosecutes such cure to complete the performance required completion. Unless and until Landlord fails to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24foregoing sentence, Tenant shall not have any remedy or cause of action by reason thereof. Notwithstanding anything contained herein to the right at any time thereafter to (i) cure such default for the account of Landlordcontrary, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant remedies hereunder shall cease. Tenant may cure any not include termination unless Landlord’s default prior to (after the expiration of the thirty foregoing notice and cure period) results in a construction eviction pursuant to and in accordance with the requirements of Florida law. In addition, if there is an interruption in an essential Building service (30such as elevators, electricity, or HVAC), and such interruption (i) day period described in preceding paragraph, after such notice to is caused by the negligence or willful misconduct of Landlord, if its agents, employees, or contractors, and (ii) renders all or any portion of the curing Premises untenantable, and (iii) continues for a period of such default prior seven (7) consecutive days after Landlord’s receipt of written notice from Tenant, then so long as the correction of the problem is within Landlord’s reasonable control, Tenant shall be entitled to an abatement of Base Rent for each day that the Premises are untenantable with respect to the expiration portion of such thirty (30) day period is necessary to protect the Premises that is untenantable (provided, however that so long as one (1) passenger or Tenant’s interest thereinfreight elevator servicing each Building is in working condition, then the Premises shall not be deemed to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations be untenantable as regarding access in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawconnection herewith).
Appears in 1 contract
Samples: Lease Agreement (Office Depot Inc)
Default by Landlord. Each of the following shall be a default by Landlord and a material breach of this Lease:
(a) Landlord shall fail to make any payment owed by Landlord under this Lease, as and when due, and where such failure is not cured within five (5) business days following receipt of written notice by Landlord from Tenant; and
(b) Landlord shall be in default hereunder if Landlord (i) fails to perform or observe in the performance of any covenant, warranty, condition or agreement in this Lease obligation required to be performed or observed by Landlord or under this Lease, other than that described in subparagraph (iia) fails above, if Landlord has failed to pay any real estate taxes or any other charge when perform such payments obligation within thirty (30) days after the receipt of notice from Tenant specifying in detail Landlord’s failure to perform; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days are required for its performance, Landlord shall not be deemed in default if it shall commence such performance within thirty (30) days and thereafter diligently pursues the same to be paid completion. Tenant shall have no rights as a result of any default by Landlord which until Xxxxxx gives thirty (30) days’ notice to any person who has a recorded interest pertaining to the Buildings, specifying the nature of the default. Such person shall become a lien upon then have the Premisesright to cure such default, and Landlord shall not be deemed in default if Landlord fails to cure such person cures such default within thirty (30) days after receipt of notice from Tenant specifying of the default, or within such longer period of time as may reasonably be necessary to cure the default. Notwithstanding anything to the foregoing, Landlord shall not be contrary 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 to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations Landlord’s liability to Tenant for damages resulting from Xxxxxxxx’s breach of Tenant hereunder any provision or provisions of this Lease shall cease. Tenant may cure any default prior to not exceed the expiration value of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s equity interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative Buildings and its right to those provided elsewhere herein or by lawinsurance proceeds.
Appears in 1 contract
Default by Landlord. (a) In the event Landlord shall be default in default hereunder if Landlord (i) fails to perform or observe the payment, when due, of 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 monetary obligations to be paid by Landlord which shall become a lien upon the Premiseshereunder (including any interest or Tenant Improvement Allowance [as defined in Exhibit F] due hereunder), and Landlord has acknowledged the existence of its obligation to make the payment and the actual amount due, and Landlord fails to cure said default within fifteen (15) days after written notice thereof from Tenant, or if Tenant has obtained a final, nonappealable judgment against Landlord for a liquidated sum and Landlord fails to pay such amount within fifteen (15) days after written notice thereof from Tenant, Tenant shall be entitled to offset the amount owed by Landlord (including any interest due hereunder) against rent next accruing hereunder. If Landlord shall default in performing any of the covenants, terms or provisions of this Lease (other than the payment, when due, of any of Landlord's monetary obligations hereunder to which the preceding sentence applies), and fails to cure such default within thirty fifteen (3015) days after written notice thereof from Tenant specifying the default. Notwithstanding the foregoing, Landlord shall not (or such longer period as may be in reasonably necessary to cure such default under this Lease if the matter in question cansuch default is not reasonably be susceptible to being cured within the thirty such fifteen (30) day period as long as Landlord commences to cure the default within the thirty (3015) day period and thereafter continuously diligently proceeds to complete the performance required Landlord commences its efforts promptly to cure the same and thereafter diligently, continuously and in good faith pursues the curing of the same to completion as soon as possible and in any event within forty-five (45) days), then, and in any of said events, Tenant shall be entitled to exercise any other right or remedy available to Tenant under law or equity, except for self-help or set-off. The remedies set forth above are in addition to and cumulative with Tenant's rental abatement rights set forth elsewhere in the Lease. Such rental abatement rights are independent of any rights or remedies set forth above.
(b) No waiver of any provision of this Lease shall be implied by any failure of Tenant to enforce any remedy on account of the violation of such default. Upon Landlord’s default provision, even if such violation shall continue or be repeated subsequently, any waiver by Tenant of any provision of this Lease may only be in writing, and failure no express waiver shall affect any provision other than the one specified in such waiver and that one only for the time and in the manner specifically stated.
(c) In addition to and not in lieu of any cure rights given to Landlord herein in the event that Landlord defaults under this Lease, each and every mortgagee and ground lessor having an interest in the Property shall have the right (but not the obligation) to cure any such defaults on the part of Landlord hereunder in accordance with and subject to the terms of any separate subordination, nondisturbance and attornment between it and Tenant or, in the absence of such a separate agreement, the following terms and conditions:
(i) The rights granted hereunder to a mortgagee or a ground lessor shall be given to any mortgagee or ground lessor of which Tenant has written notice prior to the occurrence of such default in accordance with the terms notice provisions specified herein. Such notice shall specify the name and address for such notice purposes of this Section 24the mortgagee or ground lessor in question, and the instrument or document from which the interest of the mortgagee or ground lessor derives.
(ii) Tenant shall deliver to all such mortgagee or ground lessors a copy of any notice of default or demand to perform on the part of Landlord hereunder at the time such notice or demand is delivered to Landlord, and no such notice shall be effective as to the mortgagee or ground lessor unless and until it has been so delivered to such mortgagee or ground lessor;
(iii) The mortgagee or ground lessor in question shall have the right at any same amount of time thereafter from the date of default that Landlord has (without duplication) to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to on the expiration party of Landlord under this Lease; and
(iv) Tenant shall accept a cure of the thirty (30) day mortgagee or the ground lessor in question within any applicable cure period described in preceding paragraph, after as if such notice to cure were the cure of Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by law.
Appears in 1 contract
Samples: Lease Agreement (Edutrek Int 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 if unless Landlord (i) fails to perform commence the cure of said failure as soon as reasonably practicable under the circumstances, or observe any covenant, warranty, condition or agreement fails diligently to pursue the same to completion; and (b) each Holder of whose identity Tenant has been notified 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 writing shall become a lien upon the Premises, and if Landlord fails 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 from Tenant specifying the default. Notwithstanding the foregoing, Landlord shall not be in default under this Lease if the matter in question cannot reasonably be cured of Landlord’s failure to cure within the thirty time periods provided above (30) day period as long as a “Landlord commences Default”). In the event of a Landlord Default, Tenant shall use reasonable efforts to cure mitigate its damages and losses arising from any such Landlord Default and Tenant may pursue any and all remedies available to it at law or in equity; provided, however, in no event shall Tenant claim a constructive or actual eviction or that the default within the thirty (30) day period and thereafter continuously diligently proceeds Premises have become unsuitable or untenantable prior to complete the performance required to cure such default. Upon Landlord’s default a Landlord Default and failure to cure by Landlord and its Holder under this Lease and, further, in accordance with the terms of this Section 24no event shall Tenant be entitled to receive more than its actual direct damages arising from any Landlord Default, Tenant shall have the right at any time thereafter to (i) cure such default it being agreed that for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate all purposes under this Lease, whereupon all obligations Tenant waives any claim it otherwise may have for special or consequential damages or any damages attributable to lost profits or revenue or loss of Tenant hereunder shall cease. Tenant may cure any default prior or interruption to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawoperations.
Appears in 1 contract
Samples: Office Lease Agreement (Velti PLC)
Default by Landlord. In the event Landlord shall be in default hereunder if Landlord (i) fails neglect or fail to perform or observe any covenantof the covenants, warranty, condition provisions or agreement conditions contained in this Lease on its part to be performed or observed by Landlord within 60 days after written notice of default (or (ii) fails to pay any real estate taxes or any other charge when such payments are if more than 60 days shall be required to be paid by Landlord which shall become a lien upon because of the Premisesnature of the default, and if Landlord fails shall fail to proceed diligently to cure such default within thirty 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 a fee mortgage and this Lease or the rentals due from Tenant hereunder are assigned to the fee mortgagee, trustee or beneficiary (30the "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 the manner required by Section 21.10 hereof, specifying the default in reasonable detail. Assignee shall have a period of 60 days after receipt of written notice from Tenant specifying the default. Notwithstanding the foregoing, Landlord shall not be in of Landlord's default under this Lease if the matter in question cannot reasonably be cured within the thirty (30) day period as long as Landlord commences which to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24same; provided, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlordhowever, if the curing nature of such default requires more than 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 proceeding with due diligence to cure the default prior to the expiration of such thirty (30) 60 day period is necessary and thereafter diligently pursues the cure to protect completion. Assignee shall not have any liability whatsoever to Tenant for any such default; provided, however, if and when the Premises 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 Tenant’s 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 therein, at the Late Payment Rate from the due date thereof until paid in full. Tenant shall have no right to prevent injury terminate this Lease as a result of any default by Landlord hereunder or damage to persons or propertyoffset against any rent payable hereunder the amount of costs incurred by Tenant in curing a default by Landlord. In no event shall any rent be abated whatsoever during, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or as a result of, any default by lawLandlord hereunder.
Appears in 1 contract
Samples: Lease Agreement (Meyer Fred Inc)
Default by Landlord. Landlord shall not be in default hereunder if unless Landlord (i) fails to perform or observe any covenantthe obligations required of Landlord within a reasonable time, warranty, condition or agreement but 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 cure such default within no event later than thirty (30) days after notice from by Tenant to Landlord and to the holder of any first mortgage or 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 default. Notwithstanding the foregoingnature of Landlord's obligation is such that more than thirty (30) days are 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 to cure the default performance within the such thirty (30) day period and thereafter continuously diligently proceeds prosecutes the same to complete completion (the performance required "CURE PERIOD"). In addition, the Noticed Lender shall be entitled to such additional period of time to cure any such defaultdefault as is set forth in Section 33 hereof. Upon Landlord’s default and failure Notwithstanding anything in this Lease to cure the contrary, if access to the Premises is unavailable as a result of any blockage occurring in accordance with the terms of this Section 24Common Areas that is caused by Landlord or its agents, Tenant shall have the right at 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 thereafter 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) cure the condition giving rise to such default for abatement right is a denial of access to the account Premises due to a blockage of Landlord, the Common Areas that is caused by Landlord or its agents and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (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 default materially and adversely affects Tenant’s use of condition is not then cured within thirty (30) business days after the PremisesTermination Notice, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default Lease by giving notice thereof to Landlord and the Noticed Lender prior to the expiration 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 hereunder. Landlord's liability hereunder in the thirty (30) day period described event of a default shall be limited as set forth in preceding paragraph, after such notice Article 43 hereof. Notwithstanding anything to Landlordthe contrary contained herein, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations blockage occurring in the Premises. The remedies provided Common Areas is the result of a fire or other casualty or a taking in eminent domain, then this Section Article 49 shall be cumulative to those provided elsewhere herein or by lawinapplicable and Articles 21 and 22 hereof shall govern the rights of the parties.
Appears in 1 contract
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 shall 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 in default hereunder 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 reasonably required to be paid by Landlord which shall become cure a lien upon the Premisesmatter which, and if Landlord fails due to cure such default within thirty (30) days after notice from Tenant specifying the default. Notwithstanding the foregoingits nature, Landlord shall not be in default under this Lease if the matter in question cannot reasonably be cured rectified within the thirty (30) day period as long as 30 days), Landlord commences to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlordbreach, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenantdefault, or (ii) noncompliance involved. If Landlord has failed to 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 default materially cannot be cured within that period, such additional time as may be necessary if within such 30 day period the holder has commenced and adversely affects Tenant’s use is diligently pursuing the actions or remedies necessary to cure the breach, default, or noncompliance involved (including but not limited to commencement and prosecution of proceedings to foreclose the Premisesmortgage, hold a trustee's sale or otherwise, if necessary to effect such cure), in which event this Lease may not be terminated by Tenant may terminate this Leasewhile such actions or remedies are being diligently pursued by the holder. If, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to at the expiration of the thirty (30applicable period(s) day period described provided for in preceding paragraphthis Paragraph, after such notice to Landlorddefault, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises breach or Tenant’s interest thereinnoncompliance has not been cured, to prevent injury Tenant may exercise any available right or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premisesremedy. The remedies provided Nothing contained in this Section 18.8 shall be cumulative deemed to those provided elsewhere herein impose any obligation on any lender to correct or by lawcure any condition.
Appears in 1 contract
Samples: Assignment and Extension of Lease (Caldera Systems Inc)
Default by Landlord. In the event that Landlord shall be in default hereunder if Landlord (i) fails fail to perform or observe any covenant, warranty, condition or agreement in of its obligations under 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 and shall become a lien upon the Premises, and if Landlord fails fail to cure such default within thirty 10 days after Tenant shall have given written notice of such default, and within ten (3010) days after of Tenant giving further notice from Tenant specifying of its intent to exercise the default. Notwithstanding the foregoingremedies provided in this Section 24.02, to Landlord and to any mortgagees of Landlord (provided that Landlord shall not be in have informed Tenant of such mortgagee's name and address) or, with respect to a default under this Lease if the matter in question that cannot reasonably be cured within the thirty (30) day period as long as 10 days, if Landlord commences or any such mortgagee fails to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required commence to cure such defaultdefault within such period and to diligently pursue such cure to completion, then a Landlord default ("Landlord Default") shall be deemed to have occurred, and Tenant shall have the following rights. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right to cure the default and after effecting such cure the reasonable cost thereof shall be reimbursed to Tenant by Landlord within 15 days after receiving Tenant's invoices, failing which Tenant, in addition to all remedies available at law or in equity to collect such costs, may withhold the amount thereof from Additional Rent (but not Annual Rent). In addition to the foregoing, Tenant shall be entitled to all remedies available at law and in equity for a Landlord Default. For purposes of this Section 24.02, any time thereafter to (i) cure such default for the account by a mortgagee of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing Landlord shall be deemed paid to be a cure by Landlord. Any improper exercise of Tenant's right hereunder to withhold all or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use portion of the Premises, Tenant may terminate this Lease, whereupon all obligations Additional Rent shall constitute a default of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration as of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if date of the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawimproper withholding.
Appears in 1 contract
Default by Landlord. (a) Landlord shall not be deemed to be in default hereunder if Landlord (i) fails to perform or observe in the performance of any covenant, warranty, condition or agreement in this Lease obligation required to be performed or observed by Landlord or (ii) fails it hereunder unless and until it has failed to pay any real estate taxes or any other charge when perform such payments are required to be paid by Landlord which shall become a lien upon the Premises, and if Landlord fails to cure such default obligations within thirty (30) days after written notice from by Tenant to Landlord specifying wherein Landlord has failed to perform such obligation; provided, however, that if the default. Notwithstanding the foregoingnature of Landlord's obligation is such that more than thirty (30) days are required for its performance, then Landlord shall not be deemed to be in default under this Lease if it shall commence such performance within such thirty (30)-day period and thereafter diligently prosecute the matter in question cannot reasonably same to completion. In no event shall Landlord be cured liable to Tenant for loss of profits, business interruption, or consequential damages if Landlord performs its obligations within the time periods specified in this Paragraph.
(b) Tenant agrees to give any mortgagee and/or trust deed holders, by registered mail, a copy of any Notice of Default served upon the 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 mortgagee and/or trust deed holder. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then the mortgagees and/or trust deed holders shall have an additional thirty (30) day period as long as Landlord commences days within which to cure the such default, or if such default cannot be cured within the that time, then such additional time as may be necessary if within thirty (30) day period days mortgagee and/or trust deed holder has commenced and thereafter continuously is diligently proceeds to complete pursuing the performance required remedies necessary to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms (including, but not limited to, commencement of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlordforeclosure proceedings, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest thereineffect such cure), to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The which event this Lease shall not be terminated while remedies provided in this Section shall be cumulative to those provided elsewhere herein or by laware being so diligently pursued.
Appears in 1 contract
Default by Landlord. Landlord It shall be in an event of default hereunder if Landlord (i) fails to perform or observe any covenant, warranty, condition or agreement in under 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 cure such default perform any material term or condition under this Lease within thirty (30) days after receipt of written notice from Tenant specifying the default. Notwithstanding the foregoingfailure, provided, however, that if such failure is of such a nature that Landlord shall not be in default under this Lease if the matter in question cannot reasonably cure the same within such thirty (30) day period, no such failure will be cured deemed to exist if Landlord commences to cure the default within the such thirty (30) day period as long as and thereafter prosecutes the same to completion 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 the event of an emergency or if Landlord commences fails to cure or to commence performance and diligently pursue the cure of any non-monetary Landlord default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24period, Tenant shall have the right at right, but not the obligation to incur any time thereafter commercially reasonable cost or make any commercially reasonable expenditure necessary to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and ’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 paid upon written demand by Tenant, due or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate to become due to Landlord under this Lease, whereupon all obligations of Tenant hereunder shall cease. or Tenant may cure seek recovery from Landlord for all such expenses incurred. Without limiting any of 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 expenses, including reasonable attorney fees, incurred by Tenant in enforcing this Lease from and after a Landlord default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice subject to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawcure rights as set forth above.
Appears in 1 contract
Samples: Solar Lease Agreement
Default by Landlord. Landlord shall not be in default hereunder if unless Landlord (i) fails to perform 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 first mortgage or observe deed of trust covering the Premises whose name and address shall have theretofore been furnished to Tenant 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 are required for performance, Landlord shall not be in default if Landlord commences performance within such Thirty (30) day period and thereafter diligently prosecutes the same to completion. Notwithstanding the foregoing, if Landlord defaults in performing any covenant, warranty, condition or agreement of its repair and maintenance obligations to the Premises as expressly stated in this Lease and 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 performed or observed by Landlord or cured within fifteen (ii15) fails to pay any real estate taxes or any other charge when business days, within such payments are 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 as 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 paid by Landlord which shall become a lien upon the Premisesto Tenant, and if Landlord fails to cure such default within thirty (30) days after written demand therefor (provided that such written demand is accompanied by reasonable documented evidence of the Reimbursable Costs). Tenant shall give advance notice by telephone to the individual from Tenant specifying the default. Notwithstanding the foregoing, time to time designated by Landlord shall not be in default to receive such notice of Tenant’s intentions to exercise its rights under this Lease if the matter in question cannot reasonably be cured within the thirty (30) day period as long as Landlord commences to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations only in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawcase of an emergency.
Appears in 1 contract
Samples: Industrial Lease Agreement (CF Finance Acquisition Corp II)
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 be in default hereunder 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 have failed to cure such default within the time provided for in this Lease, then the Mortgagees shall have an additional thirty (30) days after notice from Tenant specifying the default. Notwithstanding the foregoingwithin which to cure such default or, Landlord shall not be in if such default under this Lease if the matter in question cannot reasonably be cured within the thirty (30) day period that time, then such additional time as long as Landlord commences to cure the default may be necessary, if, within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period days, any Mortgagee has commenced and is diligently pursuing the remedies necessary to protect the Premises cure 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 will Landlord or Tenant’s interest thereinany Mortgagee be responsible for any consequential damages incurred by Tenant as a result of any default, to prevent injury including, but not limited to, lost profits or damage to persons or property, or to permit Tenant to conduct its usual interruption of business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or as a result of any alleged default by lawLandlord hereunder.
Appears in 1 contract
Samples: Lease (Exactis Com Inc)
Default by Landlord. Unless a shorter period of time is ------------------- specified by which Landlord shall be in default hereunder if Landlord (i) fails is required 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 cure such default within thirty (30) days after notice from Tenant specifying the default. Notwithstanding the foregoingits obligation, Landlord shall not be in default unless Landlord fails to perform its obligations under this Lease if within a reasonable time, but in no event later than thirty (30) days after written notice by Tenant to Landlord specifying wherein Landlord has failed to perform such obligations; provided, however, that in the matter in question event that any such cure cannot reasonably be cured within the thirty (30) day period as long as Landlord commences to cure the default within the completed with such thirty (30) day period and thereafter continuously provided further that Landlord has commenced and is diligently proceeds pursuing such cure, Landlord shall have an additional period of thirty (30) days to complete such cure. Tenant's obligation to provide written notice to Landlord of a default by Landlord is limited to those instances where knowledge of Landlord's default is, within the performance required actual knowledge of Tenant. If Landlord fails to cure such default. Upon Landlord’s a default and failure to cure within the time period described in accordance with the terms of this Section 2410.07, and if such default renders all or any part of the Premises untenantable or unusable for Tenant's ordinary business, Tenant shall have the right at option to cure the default, in addition to any time thereafter other remedies permitted by law. Should Tenant elect to cure the default itself, all reasonable costs associated with such cure, including reasonable attorneys' fees (i) cure such default for the account of Landlordif any), and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred reimbursed. by Landlord to Tenant within ten (10) days of receipt of Tenant's invoice for the account of said costs. However, upon Landlord's failure to so reimburse or, and Landlord at Tenants option, said costs shall reimburse Tenant for any amounts paid upon written demand by be held from rent due hereunder. If Landlord's default hereunder prevents Tenant, or (ii) if such default materially and adversely affects Tenant’s 's use of the Premises, Tenant may terminate this Lease, whereupon all obligations there shall be an abatement of Tenant hereunder shall cease. Tenant may cure any default prior to rental payments for the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawnon-use.
Appears in 1 contract
Samples: Lease (Impac Medical Systems Inc)
Default by Landlord. Landlord In the event of any default by Landlord, Tenant's exclusive remedy shall be in default hereunder if Landlord an action for actual direct damages (i) fails to perform or observe Tenant hereby waiving the benefit of 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 laws granting it a lien upon the Premisesproperty 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 if Landlord fails to cure such default within shall thereupon have thirty (30) days after notice from Tenant specifying the in which to cure any such default. Unless and until Landlord fails to so 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 Building and the Property 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 the foregoingany other provision hereof, Landlord shall not be have any personal liability hereunder. In the event of any breach or default by Landlord 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 to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms any term or provision of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior agrees to look solely to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises equity or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations then owned by Landlord in the PremisesProperty, however, in no event, shall any deficiency judgment or any money judgment of any kind be sought or obtained against any Landlord. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by law.----------------------- /14/ twelve percent (12%)
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 (not to exceed thirty (30) days unless (a) in the case of an emergency constituting a threat to human health, life or safety or an imminent loss of or damage to property in which case such cure shall such be in default hereunder if Landlord (i) fails immediately instituted by Landlord, and diligently prosecuted to perform or observe any covenantcompletion, 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 in the case of a lien upon the Premises, and if Landlord fails to default not susceptible of cure such default within thirty (30) days after notice from Tenant specifying the default. Notwithstanding the foregoingif such cure is diligently pursued, in which case Landlord shall not have a reasonable time thereafter to complete such cure provided that Landlord diligently pursues such cure). 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") that has been identified as such in a writing delivered to Tenant, as hereafter provided. Tenant agrees to give all Mortgagees, by certified mail, return receipt requested, a copy of any notice of default under this Lease served upon Landlord, provided that prior to such notice Tenant has been notified, in writing by Landlord or by way of receipt of actual notice of an Assignment of Rents and Leases, or similar assignment, of the address of such Mortgagees. Tenant further agrees that if the matter in question cannot reasonably be cured Landlord shall have failed to cure such default within the time provided for in this Lease, then (other than in the case of an emergency constituting a threat to human health, life or safety or an imminent loss of or damage to property) the Mortgagees shall have an additional thirty (30) day period as long as Landlord commences to cure the default days within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required which to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24or, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premisescannot be cured within that time, Tenant then such additional time as may terminate this Leasebe necessary, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraphif, after such notice to Landlord, if the curing of such default prior to the expiration of within such thirty (30) day period days, any Mortgagee has commenced and is diligently pursuing the remedies necessary to protect the Premises cure 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 will Landlord or Tenant’s interest thereinany Mortgagee be responsible for any consequential damages incurred by Tenant as a result of any default, to prevent injury including, but not limited to, lost profits or damage to persons or property, or to permit Tenant to conduct its usual interruption of business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or as a result of any alleged default by lawLandlord hereunder.
Appears in 1 contract
Samples: Lease (Infocrossing 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. 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 be in default hereunder 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 have failed to cure such default within the time provided for in this Lease, then the Mortgagees shall have an additional thirty (30) days after notice from Tenant specifying the default. Notwithstanding the foregoingwithin which to cure such default or, Landlord shall not be in if such default under this Lease if the matter in question cannot reasonably be cured within the thirty (30) day period that time, then such additional time as long as Landlord commences to cure the default may be necessary, if, within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period days, any Mortgagee has commenced and is diligently pursuing the remedies necessary to protect the Premises cure 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 will Landlord or Tenant’s interest thereinany Mortgagee be responsible for any consequential damages incurred by Xxxxxx as a result of any default, to prevent injury including, but not limited to, lost profits or damage to persons or property, or to permit Tenant to conduct its usual interruption of business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or as a result of any alleged default by lawLandlord hereunder.
Appears in 1 contract
Samples: Lease (Daily Journal Corp)
Default by Landlord. Landlord shall not be in default hereunder if unless Landlord (i) fails to perform or observe any covenantthe obligations required of Landlord within a reasonable time, warranty, condition or agreement but 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 cure such default within no event later than thirty (30) days after notice from by Tenant to Landlord and to the holder of any first mortgage or 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 default. Notwithstanding the foregoingnature of Landlord's obligation is such that more than thirty (30) days are 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 to cure the default performance within the such thirty (30) day period and thereafter continuously diligently proceeds prosecutes the same to complete completion (the performance required "CURE PERIOD"). In addition, the Noticed Lender shall be entitled to such additional period of time to cure any such defaultdefault as is set forth in Section 33 hereof. Upon Landlord’s default and failure Notwithstanding anything in this Lease to cure the contrary, if access to the Premises is unavailable as 64 a result of any blockage occurring in accordance with the terms of this Section 24Common Areas that is caused by Landlord or its agents, Tenant shall have the right at 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 thereafter 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) cure the condition giving rise to such default for abatement right is a denial of access to the account Premises due to a blockage of Landlord, the Common Areas that is caused by Landlord or its agents and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (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 default materially and adversely affects Tenant’s use of condition is not then cured within thirty (30) business days after the PremisesTermination Notice, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default Lease by giving notice thereof to Landlord and the Noticed Lender prior to the expiration 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 hereunder. Landlord's liability hereunder in the thirty (30) day period described event of a default shall be limited as set forth in preceding paragraph, after such notice Article 43 hereof. Notwithstanding anything to Landlordthe contrary contained herein, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations blockage occurring in the Premises. The remedies provided Common Areas is the result of a fire or other casualty or a taking in eminent domain, then this Section Article 49 shall be cumulative to those provided elsewhere herein or by lawinapplicable and Articles 21 and 22 hereof shall govern the rights of the parties.
Appears in 1 contract
Samples: Lease (Sports Club Co Inc)
Default by Landlord. In the event of any default by Landlord, Tenant’s exclusive remedy will be an action for damages; provided, however, prior to any such action Tenant will give Landlord shall written notice specifying such default with particularity, and Landlord will have a period of 20 days following the date of such notice in which to commence the appropriate cure of such default. 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 will not have any remedy or cause of action by reason thereof. Notwithstanding any provision of this Lease, Landlord will not at any time have any personal liability under this Lease, and Tenant’s sole remedy with respect thereto will be in a suit for damages and not a termination of the Lease. As a material inducement to Landlord to enter into this Lease with Tenant, Tenant hereby acknowledges and agrees that Landlord's liability for any breach or default hereunder if by Landlord of any term or provision of this Lease is limited to the greater of the following (the "Liability Cap"): (i) fails to perform Landlord's equity or observe any covenant, warranty, condition or agreement in this Lease to be performed or observed interest then owned by Landlord in the Building, 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 cure such default within thirty (30) days after notice from Tenant specifying the defaultcumulative maximum of $2,500,000.00. Notwithstanding the foregoing, in the event that any breach or default by Landlord shall not be in default under of any term or provision of this Lease if results from Landlord's gross negligence or willful misconduct, the matter Liability Cap set forth above shall be increased to a cumulative maximum of $5,000,000.00. In no event will any deficiency judgment be sought or obtained against Landlord in question cannot reasonably be cured within the thirty (30) day period as long as Landlord commences to cure event Tenant's damages exceed the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of LandlordLiability Cap, and Tenant hereby expressly waives any amount paid or any contractual liability reasonably incurred by Tenant claims for damages in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use excess of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawLiability Cap.
Appears in 1 contract
Default by Landlord. Landlord shall not be in default hereunder if unless Landlord (i) fails to perform or observe any covenantthe obligations required of Landlord within a reasonable time, warranty, condition or agreement but 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 cure such default within no event later than thirty (30) days after notice from by Tenant to Landlord and to the holder of any first mortgage or 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 default. Notwithstanding the foregoingnature of Landlord's obligation is such that more than thirty (30) days are 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 to cure the default performance within the such thirty (30) day period and thereafter continuously diligently proceeds prosecutes the same to complete completion (the performance required "CURE PERIOD"). In addition, the Noticed Lender shall be entitled to such additional period of time to cure any such defaultdefault as is set forth in Section 33 hereof. Upon Landlord’s default and failure Notwithstanding anything in this Lease to cure the contrary, if access to the Premises is unavailable as a result of any blockage occurring in accordance with the terms of this Section 24Common Areas that is caused by Landlord or its agents, Tenant shall have the right at 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 thereafter 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) cure the condition giving rise to such default for abatement right is a denial of access to the account Premises due to a blockage of Landlord, the Common Areas that is caused by Landlord or its agents and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (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 default materially and adversely affects Tenant’s use of condition is not then cured within thirty (30) business days after the PremisesTermination Notice, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default Lease by giving notice thereof to Landlord and the Noticed Lender prior to the expiration 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 Landxxxx'x xefault hereunder. Landxxxx'x xiability hereunder in the thirty (30) day period described event of a default shall be limited as set forth in preceding paragraph, after such notice Article 43 hereof. Notwithstanding anything to Landlordthe contrary contained herein, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations blockage occurring in the Premises. The remedies provided Common Areas is the result of a fire or other casualty or a taking in eminent domain, then this Section Article 49 shall be cumulative to those provided elsewhere herein or by lawinapplicable and Articles 21 and 22 hereof shall govern the rights of the parties.
Appears in 1 contract
Samples: Lease Agreement (Sports Club Co Inc)
Default by Landlord. Landlord shall be in In the event of any default hereunder 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 cure such default within thirty (30) days after notice from Tenant specifying the default. Notwithstanding the foregoing, 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 to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, 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 have a period of thirty (30) days following the date of such notice in which to commence the appropriate cure of such default, which cure shall thereafter be diligently 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 any deficiency judgment be sought or obtained against Landlord. In addition to Tenant's other remedies hereunder, if Landlord defaults in the performance of any obligation imposed on it under this Sublease and does not cure such default as provided above, Tenant, without waiver of or prejudice to any other right or remedy it may have, shall have the right, to the extent permitted by the Master Lease, at any time thereafter thereafter, to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant upon invoice for any amounts amount paid upon written demand by Tenantand any expense or contractual liability so incurred. In the event of emergency, or (ii) if such default materially where necessary to prevent injury to persons or damage to property or to mitigate damages, and adversely affects Tenant’s use of to the Premisesextent permitted by the Master Lease, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any a default prior to by Landlord before the expiration of the thirty (30) day period described in preceding paragraphwaiting period, but after giving such written or oral notice to Landlord, if Landlord as is reasonably practical under all of the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawcircumstances.
Appears in 1 contract
Samples: Sublease Agreement (A21 Inc)
Default by Landlord. The Landlord shall be in default hereunder agrees that 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) it fails to pay any real estate installment of taxes prior to sale of said taxes or assessments or any interest, principal, costs of other charge when such payments are required to be paid by Landlord which shall become a lien charges upon any mortgage or mortgages, or other liens and encumbrances affecting the leased Premises, and to which this Lease may be subordinate when any of the same become due, or if the Landlord fails to cure make any repairs or do any work required of the Landlord by the provisions of this Lease, or in any other respect fails to perform any covenant and agreement in the Lease contained on the part of the Landlord to be performed, then, and in any such event or events, the Tenant, after the continuance of any such failure of default within for thirty (30) days after notice from in writing thereof is given by the Tenant specifying to the default. Notwithstanding the foregoingLandlord, 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 to cure the default within the thirty (30) day period may at its option pay said taxes, assessments, interest, principal, costs, and thereafter continuously diligently proceeds to complete the performance required to other charges and cure such default. Upon Landlord’s default defaults all on behalf of and failure to cure in accordance with at the terms expense of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and do all necessary work and make all necessary payments in connection therewith including but not limiting the same to the payment of any fees, costs and reasonable charges of or in connection with any legal action which may have been brought; and the Landlord agrees to pay to the Tenant forthwith the amount so paid by the Tenant, together with interest at the rate often percent (10% ) per annum and agrees that the Tenant may withhold any and all rental payments thereafter becoming due to the Landlord pursuant to the provisions of this Lease or any contractual liability reasonably incurred extension thereof and may apply the same to the payment of such indebtedness of the Landlord to the Tenant until such indebtedness is fully paid with interest as herein provided. Nothing herein contained shall preclude the Tenant from proceeding to collect the amount so paid by it as aforesaid without waiting for rental off-sets to accrue or from exercising any other right or remedy available to Tenant at law or in so doing shall be deemed paid or incurred for the account of Landlordequity. Landlord agrees to indemnify and save Tenant harmless from all fines, claims, demands, actions, proceedings, judgments, and damages (including court costs and reasonable attorney fees) of any kind or nature by anyone whomsoever arising or growing out of any breach or nonperformance by Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate covenants in this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by law.
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 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 be in default hereunder 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 have failed to cure such default within the time provided for in this Lease, then the Mortgagees shall have an additional thirty (30) days after notice from Tenant specifying the default. Notwithstanding the foregoingwithin which to cure such default or, Landlord shall not be in if such default under this Lease if the matter in question cannot reasonably be cured within the thirty (30) day period that time, then such additional time as long as Landlord commences to cure the default may be necessary, if, within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period days, any Mortgagee has commenced and is diligently pursuing the remedies necessary to protect the Premises cure 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 will Landlord or Tenant’s interest thereinany 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 any right to prevent injury or damage to persons or propertyterminate this Lease unless a final, or to permit Tenant to conduct nonappealable judgment granting such termination is entered in its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawfavor.
Appears in 1 contract
Default by Landlord. Landlord shall be in default hereunder of its obligations under this Lease if Landlord (i) fails shall fail to observe or perform any term, covenant or observe any covenant, warranty, condition or agreement in of this Lease on its part to be performed or observed by and such failure shall continue for a period of sixty (60) days after written notice thereof from Tenant, unless such failure cannot with reasonable diligence be cured within a period of sixty (60) days, in which case such failure shall not be deemed to continue if Landlord, within said sixty (60) day period, proceeds promptly and with reasonable diligence to cure the failure and diligently completes the curing thereof (the “Landlord or (ii) fails Cure Period”). The time within which Landlord shall be obligated to pay cure any real estate taxes or such failure shall also be subject to extension of time due to the occurrence of any other charge when such payments are required to be paid by Landlord which shall become a lien upon Unavoidable Delay. In the Premises, and if event Landlord fails to cure any such default within thirty (30) days after notice from the period provided, Tenant specifying the default. Notwithstanding the foregoingmay seek such remedies available to Tenant hereunder or at law or in equity; provided, 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 to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24however, that Tenant shall have no right to terminate the right at any time thereafter to Lease unless and until (i) cure such default default, if left uncured, would render the Premises Unsuitable for the account of Landlordits Permitted Use in Tenant’s commercially reasonable opinion, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) Tenant has provided Landlord with a second written notice of default relating to matters which were set forth in a prior written notice and which were not cured during the aforementioned Landlord Cure Period, which second notice shall clearly and unequivocally state that, if such default materially and adversely affects Tenant’s use of the Premisesmatters are not cured in a second Landlord Cure Period, Tenant may terminate this the Lease, whereupon all obligations of and (iii) Landlord’s failure shall then continue for a second Landlord Cure Period. Any sums owed Tenant by Landlord hereunder shall cease. Tenant may cure any default prior to bear interest at the expiration of Overdue Rate from the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if date due and payable until the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawdate paid.
Appears in 1 contract
Samples: Lease Agreement (Cornerstone Healthcare Plus Reit, 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. 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 be in default hereunder 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 have failed to cure such default within the time provided for in this Lease, then the Mortgagees shall have an additional thirty (30) days after notice from Tenant specifying the default. Notwithstanding the foregoingwithin which to cure such default or, Landlord shall not be in if such default under this Lease if the matter in question cannot reasonably be cured within the thirty (30) day period that time, then such additional time as long as Landlord commences to cure the default may be necessary, if, within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period days, any Mortgagee has commenced and is diligently pursuing the remedies necessary to protect the Premises cure 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 will Landlord or Tenant’s interest thereinany Mortgagee be responsible for any consequential damages incurred by Xxxxxx as a result of any default, to prevent injury including, but not limited to, lost profits or damage to persons or property, or to permit Tenant to conduct its usual interruption of business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or as a result of any alleged default by lawLandlord hereunder.
Appears in 1 contract
Default by Landlord. Landlord shall be deemed to be in default hereunder only if Landlord (i) fails to perform or observe comply with any covenantmaterial obligation on its part hereunder and
(i) such failure shall continue for more than the time of any cure period provided herein, warranty, condition or agreement in this Lease to be performed or observed by Landlord or 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 Premisesif no cure period is provided herein, and if Landlord fails to cure such default within thirty for more than sixty (3060) days after written notice thereof from Tenant specifying the default. Notwithstanding the foregoingTenant, Landlord shall not be in or, (iii) if such default under this Lease if the matter in question cannot reasonably be cured within such applicable cure period, subject to Force Majeure, Landlord shall not within such period commence the thirty (30) day period as long as Landlord commences to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure of such default, or, having so commenced, shall thereafter fail to diligently prosecute such cure. Upon Landlord’s the occurrence of default by Landlord as described above, which default substantially and failure to cure in accordance materially interferes with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Leaseshall have the exclusive right (a) to offset or deduct only from the Rent becoming due hereunder, whereupon the amount of actual damages incurred by Tenant as a direct result of Landlord’s default, but only after obtaining a judgment in a court of competent jurisdiction for such damages, or (b) to seek equitable relief in accordance with applicable Laws; provided, however, (i) in no event shall Tenant be entitled to offset from all obligations or any portion of the Rent becoming due hereunder or to otherwise recover or obtain from Landlord or its Agents any damages (including, without limitation, any consequential, incidental, punitive or other damages proximately arising out of a default by Landlord hereunder) or Losses other than Tenant’s actual damages as described in the foregoing clause (a), and (ii) Tenant agrees that, notwithstanding anything to the contrary herein or pursuant to any applicable Laws, Tenant’s remedies hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or constitute Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or sole and absolute right and remedy for a default by lawLandlord hereunder.
Appears in 1 contract
Samples: Lease Agreement
Default by Landlord. Landlord shall not be considered to be in default hereunder if in the performance of any obligation to be performed by Landlord under this Lease unless (ia) Landlord 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 of its obligations hereunder and said failure continues for a lien upon the Premises, and if Landlord fails to cure such default within period of thirty (30) days after the date of delivery of written notice from of such failure by Tenant specifying the default. Notwithstanding the foregoingto 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 commence the cure of said failure as soon as reasonably practicable under this Lease if the matter circumstances, or fails diligently to pursue the same to completion; and (b) each Holder of whose identity Tenant has been notified in question writing shall have failed to cure such default within the time periods provided above (provided that, in the case of any default of Landlord which cannot reasonably be cured within the thirty (30) day period as long as Landlord commences to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of 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 protect effect such cure] and thereafter shall prosecute the 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 complete the curing of the same) (a “Landlord Default”). 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 available to it at law or in equity; provided, however, 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 receive more than its actual direct damages arising from any Landlord Default, it being agreed that for all purposes under this Lease, Tenant waives any claim it otherwise may have for special or consequential damages or any damages attributable to lost profits or revenue or loss of or interruption to Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawoperations.
Appears in 1 contract
Samples: Office Lease Agreement (Turo Inc.)
Default by Landlord. If Landlord shall be in default hereunder if Landlord (i) fails to perform or observe any covenant, warrantyterm, provision or condition or agreement in of 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 PremisesLease, and if Landlord fails to cure such default within should continue beyond a period of ten (10) days as to a monetary default or thirty (30) days after notice from Tenant specifying the (or such longer period as is reasonably necessary to remedy such non-monetary default. Notwithstanding the foregoing, provided Landlord shall not be continuously and diligently pursue such remedy at all times until such default is cured) as to a non-monetary default, after in default under this Lease if each instance written notice thereof is given by Tenant to Landlord [and a copy of said notice is sent simultaneously therewith to any party (including without limitation a mortgagee) entitled to receive notice pursuant to Section 17.04 hereof (the matter “Notice Parties”)] then, in question cannot reasonably be cured within the thirty (30) day period as long as Landlord commences to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure any such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, event Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlorddefault, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenantall reasonable sums expended in so curing said default (which reimbursement Tenant may effect through the withholding of Rent), or and/or (ii) if commence such default materially and adversely affects Tenant’s use actions at law or in equity to which Tenant may be entitled (other than an action to terminate this 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 PremisesDefault Interest Rate, to the extent that such amounts remain unpaid. Notwithstanding the foregoing, Tenant may terminate offset against all Base Rent and other 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, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The foregoing provisions shall not limit other remedies provided available to Tenant under this Lease or at law or in this Section shall be cumulative to those provided elsewhere herein or by lawequity.
Appears in 1 contract
Samples: Lease (I2 Technologies Inc)
Default by Landlord. Landlord shall be deemed to be in default hereunder under this Lease if Tenant has given written (or verbal, in case of emergency) notice to Landlord (i) fails and, if requested by Landlord, to perform or observe any covenant, warranty, condition or agreement Landlord’s mortgagee if the mortgagee has notified Tenant in this Lease writing of its interest and the address to which such notices are to be performed or observed sent) of any such default by Landlord or (ii) fails to pay any real estate taxes or any other charge when such payments are required to be paid by and Landlord which shall become a lien upon the Premises, and if Landlord fails has failed to cure such default within thirty (30) days (or with reasonable promptness, in case of emergency) after Landlord received notice from Tenant specifying thereof. Provided, however, that if the default. Notwithstanding the foregoingnature of Landlord’s default in a non-emergency situation is such that more than thirty (30) days are reasonably required for a cure, then Landlord shall not be deemed to be in default under this Lease if the matter in question cannot reasonably be cured Landlord commences such cure within the thirty (30) day period as long as Landlord commences to cure the default within the original thirty (30) day period and thereafter continuously diligently proceeds prosecutes the cure to complete completion. In the performance required to event Landlord defaults in any material obligation under the Lease and the applicable cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24period has expired, Tenant shall have be entitled to cure the right default, at Tenant’s option, including the payment of monies directly to the party to whom the obligation is owed, or Tenant may terminate the Lease by notice to Landlord at any time thereafter before the default is cured, or Tenant may pursue any other remedy permitted or available to (i) cure Tenant under applicable law. In the event of any such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand 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 failure to perform any condition or (ii) if such default materially and adversely affects Tenant’s use of covenant required under the Premises, Tenant may terminate this Lease, whereupon all obligations Lease to be performed by Landlord. The failure of Tenant hereunder to pursue any remedy shall ceasenot be deemed as a waiver by reason of any subsequent breach or breaches by the Landlord. The exercise of any remedy by Tenant may cure shall not be deemed an election of remedies or preclude Tenant from exercising any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations other remedies in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawfuture.
Appears in 1 contract
Samples: Office Lease (Annie's, 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 if unless Landlord (i) fails to perform commence the cure of said failure as soon as reasonably practicable under the circumstances, or observe any covenant, warranty, condition or agreement fails diligently to pursue the same to completion; and (b) each Holder of whose identity Tenant has been notified 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 writing shall become a lien upon the Premises, and if Landlord fails 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 from Tenant specifying of Landlord’s failure to cure within the defaulttime periods provided above (a “Landlord Default”). Notwithstanding the foregoingHowever, if Tenant notifies Landlord that Landlord’s failure is causing material interference to Tenant’s operations, Landlord shall not be in default under this Lease if commence the matter in question cannot cure as soon as reasonably be cured within possible and shall diligently pursue such cure and will use commercially reasonable efforts to keep Tenant informed as to the thirty (30) day period as long as Landlord commences to cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon status of Landlord’s default 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 available to it at law or in equity; provided, however, 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 accordance with the terms of no event shall Tenant be entitled to terminate this Section 24Lease or receive more than its actual direct damages arising from any Landlord Default, Tenant shall have the right at any time thereafter to (i) cure such default it being agreed that for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate all purposes under this Lease, whereupon all obligations Tenant waives any claim it otherwise may have for special or consequential damages or any damages attributable to lost profits or revenue or loss of Tenant hereunder shall cease. Tenant may cure any default prior or interruption to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or by lawoperations.
Appears in 1 contract
Samples: Office Lease Agreement (On24 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 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 be in default hereunder 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 have failed to cure such default within the time provided for in this Lease, then the Mortgagees shall have an additional thirty (30) days after notice from Tenant specifying the default. Notwithstanding the foregoingwithin which to cure such default or, Landlord shall not be in if such default under this Lease if the matter in question cannot reasonably be cured within the thirty (30) day period that time, then such additional time as long as Landlord commences to cure the default may be necessary, if, within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such default for the account of Landlord, and any amount paid or any contractual liability reasonably incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord shall reimburse Tenant for any amounts paid upon written demand by Tenant, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior to the expiration of the thirty (30) day period described in preceding paragraph, after such notice to Landlord, if the curing of such default prior to the expiration of such thirty (30) day period days, any Mortgagee has commenced and is diligently pursuing the remedies necessary to protect the Premises cure 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 will Landlord or Tenant’s interest thereinany Mortgagee be responsible for any consequential damages incurred by Tenant as a result of any default, to prevent injury including, but not limited to, lost profits or damage to persons or property, or to permit Tenant to conduct its usual interruption of business operations in the Premises. The remedies provided in this Section shall be cumulative to those provided elsewhere herein or as a result of any alleged default by lawLandlord hereunder.
Appears in 1 contract
Default by Landlord. Landlord shall be in default hereunder if Landlord (i) fails Landlord's failure to perform or observe any covenant, warranty, condition of its obligations under this Lease or agreement to correct a breach of any warranty or representation made in this Lease to be performed within thirty (30) days after receipt of written notice from Tenant setting forth in reasonable detail the nature and extent of the failure referencing pertinent Lease provisions or observed by Landlord or if more than thirty (ii30) fails to pay any real estate taxes or any other charge when such payments are days is required to be paid by cure the breach, Landlord's failure to begin curing within the thirty (30) day period and diligently prosecute the cure to completion, shall constitute a default. If Landlord which shall become commits a lien upon 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 fails (and/or Landlord's mortgagee if any) has failed to commence to cure such default within thirty (30) days after notice from (or such shorter time as is commercially reasonable in the case of an emergency threatening imminent harm to persons or property), Tenant specifying the default. Notwithstanding the foregoingmay, 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 to without waiving any claim for damages for breach of agreement, thereafter cure the default within the thirty (30) day period and thereafter continuously diligently proceeds to complete the performance required to cure such default. Upon Landlord’s default and failure to cure in accordance with the terms of this Section 24, Tenant shall have the right at any time thereafter to (i) cure such 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 any amount paid or any contractual liability reasonably incurred by Landlord's mortgagee that Tenant in so doing 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 any amounts Tenant's out-of-pocket expenditures paid upon written demand by Tenantto third parties to effectuate such cure, or (ii) if such default materially and adversely affects Tenant’s use of the Premises, Tenant may terminate this Lease, whereupon all obligations of Tenant hereunder shall cease. Tenant may cure any default prior reimbursement to the expiration of the be within thirty (30) day period described days after completion of the cure and invoice to Landlord showing the costs of cure. Tenant s cure rights shall be in preceding paragraphlieu of any right to terminate this Lease; Tenant shall not have the right to terminate this Lease for a Landlord default. If Landlord disputes either the necessity of the cure or the cost thereof, after such notice to Landlordthe matter shall be settled by arbitration administered by the American Arbitration Association in accordance with its Rules for the Real Estate Industry before a single neutral arbitrator of the American Arbitration Association sitting in Seattle, if the curing of such default prior to the expiration of such thirty (30) day period is necessary to protect the Premises or Tenant’s interest therein, to prevent injury or damage to persons or property, or to permit Tenant to conduct its usual business operations in the PremisesWashington. The remedies provided in this Section arbitrator shall be cumulative a person having at least ten (10) years' experience and knowledge about commercial leasing and property management. The arbitration shall be held within sixty (60) days of Landlord notifying Tenant it disputes Tenant's cure. The costs of the arbitrator shall be shared equally by the parties. The prevailing party shall be entitled to those provided elsewhere herein or by lawan award of reasonable attorney's fees. The arbitrator's award shall be final and binding on the parties.
Appears in 1 contract