Common use of Default by Sublessee Clause in Contracts

Default by Sublessee. In addition to the events of default defined in the Base Lease, it is understood and agreed that Sublessee will be in default and that an event of default will have occurred under this Sublease if Sublessee fails in any way to fully comply with the terms and conditions of the Base Lease or of this Sublease for twenty (20) days after receipt of written notice from Sublessor specifically setting forth such default or event of default, and Sublessee has failed to cure such default or event of default within said twenty (20) day period, or, in the event such default or event of default cannot be cured within twenty (20) days, then within an additional reasonable period of time so long as Sublessee has commenced curative action within said twenty (20) day period and thereafter is diligently attempting to cure such default. In the event that any of such events of default occurs, including those defined in the Base Lease. Sublessor will be entitled to (i) all the rights and remedies reserved by or granted to the Base Lessor in the Base Lease after an event of default, (ii) cure such default, in which event Sublessee will reimburse Sublessor on demand for all costs and expenses expended or incurred by Sublessor in curing such default together with interest thereon at the highest legal contractual rate until reimbursement is made to Sublessor by Sublessee. (iii) exercise all rights and remedies provided by law, and/or (iv) immediately terminate this Sublease. Nothing in this Lease will be construed as imposing any duty upon Sublessor to relet the Demised Premises. Except as required by applicable law, Sublessor will have no duty to mitigate or minimize Sublessor’s damages by virtue of Sublessee’s default. Any duty imposed by law on Sublessor to mitigate damages after a default by Sublessee under this Sublease will be satisfied in full if Sublessor undertakes to lease the Demised Premises to another tenant (a “Substitute Tenant”) in accordance with the following criteria:

Default by Sublessee. In addition The following shall be deemed to the be events of default defined in (“Event of Default”) by Sublessee under this Sublease: (1) Sublessee shall fail to pay any installment of Rent or any other payment required pursuant to this Sublease, and the Base default is not cured within three (3) business days after written notice thereof to Sublessee; (2) Sublessee shall abandon any substantial portion of the Subleased Premises; (3) Sublessee shall fail to comply with any term, provision or covenant of this Sublease (or the Primary Lease, it for which Sublessee is, through Section 14 of this Sublease, bound) other than the defaults described in subparts (1) and (2) of this sentence, and the failure is understood not cured within ten (10) days after written notice thereof to Sublessee; provided, if the nature of Sublessee’s failure is non-monetary and agreed that more than ten (10) days are reasonably required in order to cure, Sublessee will shall not be in default and that an event of default will have occurred under this Sublease if Sublessee fails in any way to fully comply with the terms and conditions of the Base Lease or of this Sublease for twenty (20) days after receipt of written notice from Sublessor specifically setting forth such default or event of default, and Sublessee has failed commences to cure such default or event of default failure within said twenty such ten (20) day period, or, in the event such default or event of default cannot be cured within twenty (20) days, then within an additional reasonable period of time so long as Sublessee has commenced curative action within said twenty (2010) day period and thereafter is diligently attempting pursues such cure to cure such default. In the event that completion; (4) Sublessee or any of such events of default occurs, including those defined in the Base Lease. Sublessor will be entitled to (i) all the rights and remedies reserved by or granted to the Base Lessor in the Base Lease after an event of default, (ii) cure such default, in which event Sublessee will reimburse Sublessor on demand for all costs and expenses expended or incurred by Sublessor in curing such default together with interest thereon at the highest legal contractual rate until reimbursement is made to Sublessor by Sublessee. (iii) exercise all rights and remedies provided by law, and/or (iv) immediately terminate this Sublease. Nothing in this Lease will be construed as imposing any duty upon Sublessor to relet the Demised Premises. Except as required by applicable law, Sublessor will have no duty to mitigate or minimize Sublessor’s damages by virtue guarantor of Sublessee’s default. Any duty imposed by obligations hereunder shall file a petition or be adjudged bankrupt or insolvent under any applicable federal or state bankruptcy or insolvency law on Sublessor or admit that it cannot meet its financial obligations as they become due; or a receiver or trustee shall be appointed for all or substantially all of the assets of Sublessee or any guarantor of Sublessee’s obligations hereunder, or Sublessee or any guarantor of Sublessee’s obligations hereunder shall make a transfer in fraud of creditors or shall make an assignment for the benefit of creditors; (5) Sublessee shall do or permit to mitigate damages after be done any act which results in a default by lien being filed against the Subleased Premises or the Building; or (6) the liquidation, termination, dissolution of Sublessee under this Sublease will be satisfied in full if Sublessor undertakes to lease the Demised Premises to another tenant (a “Substitute Tenant”) in accordance with the following criteria:or any guarantor of Sublessee’s obligations hereunder.

Default by Sublessee. In addition If (i) Sublessee does not fulfill any of the terms, covenants, or agreements of the Lease or this Sublease to be performed by Sublessee, including, but not limited to, the events payment of default defined in the Base LeaseRent, it is understood the Sublessee Escalation or additional rent, and agreed that such breach shall not have been remedied (or proper 8 corrective measures to cure the breach have not commenced) within five (5) days after written notice from Sublessor; or (ii) Sublessee will be in default and that an commits any event of default will have occurred as described in Article 8.01 of the Lease (DEFAULT BY TENANT), as herein incorporated, and such is not cured within the notice and cure period provided for therein; or (iii) Sublessee causes Sublessor to be put into default under the terms of the Lease; or (iv) Sublessee is the subject of an attachment, execution or other judicial seizure of substantially all of Sublessee's assets located at the Subleased Premises or of Sublessee's interest in this Sublease; or (v) Sublessee assigns this Sublease if Sublessee fails in or sublets all or any way to fully comply with the terms and conditions portion of the Base Lease or Subleased Premises, except as expressly provided for in Section 1 (d) of this Sublease for Sublease, and such assignment or sublet is not amended, modified or terminated within twenty (20) days after receipt of written notice from Sublessor specifically setting to Sublessee, which notice shall set forth how such default assignment or event sublet is in violation of defaultthe terms of this Sublease; or (vi) Sublessee is the subject of the filing of a petition in any bankruptcy or other insolvency proceeding, and by or against Sublessee, or Sublessee has failed commences an act seeking any relief under any state or federal debtor relief law, or Sublessee is the subject of the filing, by or against Sub lessee, for the reorganization or modification of Sublessee's capital structure, or a trustee or receiver is appointed to cure take possession of substantially all of Sublessee's assets or the leasehold; however, if such default a filing or petition is filed against Sublessee by non-affiliated third parties, then such filing shall not be a Sublessee Default unless Sublessee fails to have the proceedings initiated by such petition dismissed within sixty (60) days after filing thereof; or (vii) Sublessee admits or indicates an admission that it cannot meet its obligations as they become due; or (viii) or Sublessee makes an assignment for the benefit of its creditors; then such failure or occurrence or any such events as set forth in (i) through (viii) shall constitute a Sublessee event of default hereunder (a Sublessee Default"). Upon the occurrence of any Sublessee Default which is not cured by Sublessee within said twenty (20) day periodthe grace periods specified in this Section, orSublessor shall have the following rights and remedies, in the event such default or event of default cannot be cured within twenty (20) days, then within an additional reasonable period of time so long as Sublessee has commenced curative action within said twenty (20) day period and thereafter is diligently attempting addition to cure such default. In the event that any of such events of default occurs, including those defined in the Base Lease. Sublessor will be entitled to (i) all the other rights and remedies reserved by or granted available to Sublessor pursuant to the Base Lessor Lease, or in the Base Lease after an event of default, (ii) cure such default, law or in which event Sublessee will reimburse Sublessor on demand for all costs and expenses expended or incurred by Sublessor in curing such default together with interest thereon at the highest legal contractual rate until reimbursement is made to Sublessor by Sublessee. (iii) exercise all rights and remedies provided by law, and/or (iv) immediately terminate this Sublease. Nothing in this Lease will be construed as imposing any duty upon Sublessor to relet the Demised Premises. Except as required by applicable law, Sublessor will have no duty to mitigate or minimize Sublessor’s damages by virtue of Sublessee’s default. Any duty imposed by law on Sublessor to mitigate damages after a default by Sublessee under this Sublease will be satisfied in full if Sublessor undertakes to lease the Demised Premises to another tenant (a “Substitute Tenant”) in accordance with the following criteriaequity:

Default by Sublessee. In addition to Each of the events of following shall constitute an "EVENT OF DEFAULT" by Sublessee under this Sublease: (i) if default defined shall be made in the Base Leasepayment of any sum of Rent, it is understood and agreed that or of any sum other than Rent, to be paid by Sublessee will be in default and that an event of default will have occurred to Sublessor under this Sublease and such failure to pay continues for a period of five (5) days after written notice thereof has been given by Sublessor to Sublessee (provided, however, Sublessor shall not be required to provide such notice more than once in any twelve (12) month period, the second such failure constituting an Event of Default without Sublessor providing such notice); or (ii) if default shall be made in the performance of any of the other covenants and conditions which Sublessee is required to observe and perform under this Sublease and such default continues for a period of thirty (30) days after written notice thereof has been given by Sublessor to Sublessee; or (iii) if the interest of Sublessee under this Sublease shall be levied on under execution or other legal process; or (iv) if any petition shall be filed by or against Sublessee to declare Sublessee a bankrupt or to delay, reduce or modify Sublessee's debts or obligations; or (v) if Sublessee fails in is declared insolvent according to law or if any way to fully comply with assignment of Sublessee's property shall be made for the benefit of creditors or if a receiver or trustee is appointed for Sublessee or its property; or (vi) if Sublessee shall default under any of the terms and conditions provisions of the Base Master Lease which, by the terms of this Sublease, are applicable hereto; then Sublessor may treat the occurrence of any one or more of the foregoing events as a breach of this Sublease for twenty (20) days after receipt and thereupon, at Sublessor's option, Sublessor shall have any one or more of written notice from Sublessor specifically setting forth such default or event of default, and Sublessee has failed to cure such default or event of default within said twenty (20) day period, orthe following described remedies, in the event such default or event of default cannot be cured within twenty (20) days, then within an additional reasonable period of time so long as Sublessee has commenced curative action within said twenty (20) day period and thereafter is diligently attempting addition to cure such default. In the event that any of such events of default occurs, including those defined in the Base Lease. Sublessor will be entitled to (i) all the rights and remedies reserved by or granted to the Base Lessor in the Base Lease after an event of default, (ii) cure such default, in which event Sublessee will reimburse Sublessor on demand for all costs and expenses expended or incurred by Sublessor in curing such default together with interest thereon at the highest legal contractual rate until reimbursement is made to Sublessor by Sublessee. (iii) exercise all other rights and remedies provided by law, and/or (iv) immediately terminate this Sublease. Nothing at law or in this Lease will be construed as imposing any duty upon Sublessor to relet the Demised Premises. Except as required by applicable law, Sublessor will have no duty to mitigate or minimize Sublessor’s damages by virtue of Sublessee’s default. Any duty imposed by law on Sublessor to mitigate damages after a default by Sublessee under this Sublease will be satisfied in full if Sublessor undertakes to lease the Demised Premises to another tenant (a “Substitute Tenant”) in accordance with the following criteriaequity:

Default by Sublessee. In addition to the events of event that Sublessee shall default defined in the Base Leasepayment of base rent and/or any additional rent when due, it is understood and agreed that Sublessor shall notify Sublessee will be in default and that an event writing of default will have occurred under this Sublease if Sublessee fails in any way to fully comply with the terms and conditions of the Base Lease or of this Sublease for twenty (20) days after receipt of written notice from Sublessor specifically setting forth such default or event of default, and Sublessee has failed shall have three days from the date of delivery of such notice to pay such base rent and/or additional rent. If Sublessee cures the default within the three-day period, Sublessee shall not be in default hereunder but the provisions of the Master Lease with respect to late charges and interest shall apply to any such payment. In the event that Sublessee shall default in the performance of any of Sublessee's obligations or duties under this Sublease, Sublessor shall notify Sublessee in writing of such default, and Sublessee shall have 20 days from the date of delivery of such notice to cure such default or event of default within said twenty (20) day perioddefault, or, in the event if such default or event is not capable of being cured by Sublessee within 20 days thereafter (except that if such default cannot be cured within twenty (said 20) days-day period, then within this period shall be extended for an additional reasonable period of time so long as time, provided that Sublessee has commenced curative action commences to cure such default within said twenty (such 20) -day period and proceeds diligently thereafter is diligently attempting to effect such cure such default. In the event that any of such events of default occursas quickly as possible), including those defined in the Base Lease. Sublessor will be entitled and if Sublessee fails to (i) all the rights and remedies reserved by or granted to the Base Lessor in the Base Lease after an event of default, (ii) cure such default, in which event Sublessee will reimburse addition to being a default under this Sublease, Sublessor on demand for all costs and expenses expended or incurred by Sublessor in curing shall be entitled, at Sublessor's option, to cure such default together with interest thereon at for the highest legal contractual rate until reimbursement is made to Sublessor by Sublessee. (iii) exercise all rights and remedies provided by law, and/or (iv) immediately terminate this Sublease. Nothing in this Lease will be construed as imposing any duty upon Sublessor to relet the Demised Premises. Except as required by applicable law, Sublessor will have no duty to mitigate or minimize Sublessor’s damages by virtue account of Sublessee’s default. Any duty imposed by law on Sublessor to mitigate damages after a default by Sublessee under this Sublease will be satisfied in full if Sublessor undertakes to lease the Demised Premises to another tenant (a “Substitute Tenant”) in accordance with the following criteria:.