Default by Subtenant. (a) Upon the happening of any of the following: (i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it is due; (ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant; (iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in this Sublease and such failure continues until the earlier of (1) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may be; or (iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant). (b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 5 contracts
Samples: Fourth Amendment (Neiman Marcus Group LTD LLC), Credit Agreement (Neiman Marcus Group LTD LLC), Indenture (Neiman Marcus Group LTD LLC)
Default by Subtenant. The occurrence of any one or more of the following events (in this Section 19 sometimes called an “Event of Default”) shall constitute a default and breach of this Sublease by Subtenant:
(a) Upon the happening of any of the following:
(i) If Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount when due from Subtenant hereunder and payable, and such failure continues for five a period of three (53) business days after written notice thereof from is given by Sublandlord to Subtenant;
(iii) Subtenant fails ; provided, that, Sublandlord shall be required to perform or observe any other covenant, obligation or agreement set forth in this Sublease and deliver such failure continues until the earlier of (1) ten (10) business days after notice thereof from Sublandlord to Subtenant or only two (2) times in any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may be; or
twelve (iv12) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereundermonth period, and Sublandlord may exerciseany subsequent failure to pay any Rent when due in any such twelve (12) month period shall constitute an Event of Default, without any further demand the necessity of written notice from Sublandlord or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder three (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)3) business day grace period.
(b) In the event If Subtenant fails or refuses to make any payment or perform any covenantof Subtenant’s nonmonetary obligations under this Sublease for a period of fifteen (15) business days after written notice thereof is given by Sublandlord to Subtenant; provided, obligation however, that if such failure is of the nature that it cannot reasonably be cured within such fifteen-business day period, then Subtenant shall have such additional time as is reasonably necessary to cure such failure as long as; (i) Subtenant commences to cure such failure within such fifteen-business day period and thereafter diligently pursues such cure to completion, and (ii) such additional cure period does not result in a default under the Master Lease.
(c) If: (i) Subtenant makes a general assignment or agreement general arrangement for the benefit of creditors; (ii) a petition for adjudication of bankruptcy or for reorganization or rearrangement is filed by or against Subtenant; (iii) a trustee or receiver is appointed to be performed hereunder by take possession of substantially all of Subtenant’s assets located at the Demised Premises or of Subtenant’s interest in this Sublease; or (iv) substantially all of Subtenant’s assets located at the Demised Premises or of Subtenant’s interest in this Sublease is subjected to attachment, execution or other judicial or non-judicial seizure. Notwithstanding the forgoing, none of items (ii), (iii) or (iv) above shall, to the extent initiated without the cooperation of Subtenant, constitute an Event of Default if the same are removed to the satisfaction of Sublandlord may make on or before sixty (60) days after such payment filing, appointment, attachment or undertake seizure.
(d) If Subtenant fails to perform such covenantcomply with any of the terms and provisions of the Master Lease assumed pursuant to this Sublease or causes or permits any default under the Master Lease beyond the applicable grace period.
(e) If Subtenant fails to comply with any of its obligations or permits any default under the Asset Purchase Agreement.
(f) If the leasehold estate created by this Sublease or the Master Lease is taken by process or operation of any applicable statues, obligation or agreement (but shall not have codes, ordinances, orders, rules and regulations of any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereundermunicipal governmental entity.
Appears in 2 contracts
Samples: Sublease Agreement, Sublease Agreement (Equinix Inc)
Default by Subtenant. (a) Upon the happening of any of the following, Subtenant will be in default under this Sublease and Sublandlord may exercise, without limitation of any other rights and remedies available to it under this Sublease or at law or in equity, any and all rights and remedies of Landlord set forth in the Prime Lease in the event of a default by Sublandlord under the Prime Lease:
(i) Subtenant fails more than once during any twelve-month period during the Term to pay any Base Rent or Additional Rent within five (5) days after of the date it is duewhen due any Rent payable by Subtenant under the terms of this Sublease;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of (1) ten (10) business for 10 days after notice thereof from Sublandlord Sublandlord, unless compliance is not possible within 10 days and Subtenant began to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may becomply within 10 days and diligently pursues it to completion; or
(iviii) any other event occurs which that involves Subtenant or the Leased Premises or any part thereof and which that would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant).Space;
(b) In the event If Subtenant fails or refuses to timely make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenantagreement, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunderRent.
Appears in 2 contracts
Samples: Sublease (Gevo, Inc.), Sublease (Gevo, Inc.)
Default by Subtenant. If Subtenant shall at any time be in default in the payment of Rent or of any other sum required to be paid by Subtenant under this Sublease, or in the performance of or compliance with any of the terms, covenants, conditions or provisions of this Sublease or the Prime Lease, or if Subtenant breaches or otherwise commits an event of default under Section 19.1 of the Prime Lease, then and in addition to any other rights or remedies Sublandlord may have under this Sublease and at law and in equity, shall have the following rights:
(a) Upon Sublandlord shall have the happening same rights and remedies against Subtenant for default of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in this Sublease and such failure continues until as the earlier of (1) ten (10) business days after notice thereof from Landlord would have against Sublandlord to Subtenant or (2) any earlier date specified for default as Tenant under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exerciseincluding, without any further demand or noticelimitation, the rights of rental acceleration, Sublease termination, retaking possession and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)damages.
(b) In If Subtenant shall be in default in the event Subtenant fails payment of Rent or refuses to make any payment or perform any covenant, obligation or agreement other sum required to be performed hereunder paid by SubtenantSubtenant under this Sublease beyond any applicable grace period set forth in Section 15 below, Subtenant shall pay interest on the delinquent amounts at the rate of ten percent (10%) per annum from the date due to the date paid.
(c) If Subtenant shall be in default in the performance of any of its obligations hereunder, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant be obligated to do so), in addition to any other rights it may have in law or equity, cure such default on behalf of Subtenant. In such event, all amounts so paid and all amounts expended Subtenant shall reimburse Sublandlord upon demand, as additional rent, for any costs incurred by Sublandlord in undertaking such performancecuring said defaults, together with all costs, expenses and including without limitation reasonable attorneys’ fees incurred from the date Sublandlord incurs such costs, along with interest from the date Sublandlord cures any such default until the date such sum is paid, at the rate specified in Section 12(a)(ii) herein.
(d) No waiver by Sublandlord of any breach by Subtenant of any of Subtenant’s obligation, agreements or Landlord in connection therewith, together with interest at the Default Rate, covenants herein shall be additional rent hereundera waiver of any subsequent breach or of any obligation, agreement of covenant, nor shall any forbearance by Sublandlord to seek a remedy for any breach by Subtenant be a waiver by Sublandlord of any rights and remedies with respect to such or any subsequent breach.
Appears in 2 contracts
Samples: Assignment of Sublease (Jaguar Animal Health, Inc.), Assignment of Sublease (Jaguar Animal Health, Inc.)
Default by Subtenant. The following shall be an Event of Default hereunder (a) Upon the happening “Event of Default”):
a. Subtenant does not pay in full any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder charge or payment whether or not herein included as Rent when due, and such failure continues for to pay is not cured within five (5) business days after following Subtenant’s receipt of notice thereof from Sublandlord thereof; provided, however, that Sublandlord shall only be obligated to give Subtenant notice of failure to pay Rent two (2) times during any period of 12 consecutive calendar months. Thereafter, for the duration of such 12-calendar-month period, Subtenant shall be in default immediately upon Subtenant’s failure to pay in full, when due, any installment or payment of Rent or any other charge or payment whether or not herein included as Rent, without benefit of such notice and grace period;
(iii) b. Subtenant uses or occupies the Subleased Premises otherwise than as permitted by Section 5 of this Sublease;
c. Subtenant violates or fails to perform or observe otherwise breaks any other covenant, obligation agreement or agreement set forth condition herein contained and Subtenant fails to cure such default within twenty (20) days after written notice from Sublandlord, plus such additional time as may be necessary to effect a cure provided that Subtenant promptly commences such cure and diligently pursues it to completion; provided, however, notwithstanding the foregoing, Subtenant’s cure period hereunder shall in no event be longer than the cure period applicable to such violation pursuant to the Primary Sublease or Master Lease;
d. Subtenant commits an act of bankruptcy or files a petition or commences any proceeding under any bankruptcy or insolvency law;
e. A petition is filed or any proceeding is commenced against Subtenant under any bankruptcy or insolvency law and such petition or proceeding is not stayed or dismissed within thirty (30) days;
f. Subtenant is adjudicated a bankrupt;
g. Subtenant by any act indicates its consent to, approval of or acquiescence in, or a court approves, a petition filed or proceeding commenced against Subtenant under any bankruptcy or insolvency law;
h. A receiver or other official is appointed for Subtenant or for a substantial part of Subtenant’s assets or for Subtenant’s interests in this Sublease;
i. Any attachment or execution against a substantial part of Subtenant’s assets or of Subtenant’s interest in this Sublease and such failure continues until the earlier remains unstayed or undismissed for a period of more than thirty (130) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may bedays; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant).
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 2 contracts
Samples: Sublease (2U, Inc.), Sublease (2U, Inc.)
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it such payment is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for fifteen (115) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may beSubtenant; or
(iv) any other event occurs which involves Subtenant or the Leased Subleased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Master Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest on all of the foregoing at the Default Raterate specified in Section 4(d) above as applicable to late payments of rent, shall be due as additional rent hereunder.
Appears in 2 contracts
Samples: Sublease Agreement (Capitalsource Inc), Sublease (Capitalsource Inc)
Default by Subtenant. (a) Upon the happening The occurrence of any of the following:following shall be considered a Event of Default hereunder (“Event of Default”):
(i) a. Subtenant fails to does not pay in full any Base installment of Rent or Additional any other charge or payment whether or not herein included as Rent within five (5) days after the date it is when due;
(ii) b. Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenantuses or occupies the Subleased Premises otherwise than as permitted by Section 5 of this Sublease;
(iii) c. Subtenant violates or fails to perform or observe otherwise breaks any covenant, agreement or condition herein contained or any other covenant, obligation or agreement set forth in this Sublease of Subtenant to Sublandlord and Subtenant fails to cure such failure continues until the earlier of default within twenty (120) ten (10) business days after written notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representativesuch lesser cure period as may be applicable with respect to such violation pursuant to the Primary Sublease or Master Lease);
d. Tenant vacates or abandons the Subleased Premises,
e. Subtenant removes or attempts to remove Subtenant’s property from the Subleased Premises other than in the ordinary course of business without first having sought and received Sublandlord’s permission whose permission shall not be unreasonably withheld, officer, director, manager conditioned or shareholder of Subtenant) or the Leased Premises, subject delayed and having first paid to any notice Sublandlord in full all Rent and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights charges that may have become due; provided however, that so long as Subtenant is current in its current and remedies available future obligations to it hereunder pay Rent and other charges that may be due, such removal or at law attempt to remove shall not constitute a default;
f. Subtenant enters into any assignment or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease sub-sublease transaction with respect to the Leased Subleased Premises or this Sublease,
g. Subtenant commits an act of bankruptcy or files a petition or commences any proceeding under any bankruptcy or insolvency law;
h. A petition is filed or any proceeding is commenced against Subtenant under any bankruptcy or insolvency law and such petition or proceeding is not dismissed within sixty (60) days;
i. Subtenant is adjudicated a bankrupt;
j. Subtenant by any act indicates its consent to, approval of or acquiescence in, or a court approves, a petition filed or proceeding commenced against Subtenant under any bankruptcy or insolvency law;
k. A receiver or other official is appointed for Subtenant or for a substantial part of Subtenant’s assets or for Subtenant’s interests in the event this Sublease;
l. Any attachment or execution against a substantial part of a default by Sublandlord thereunder (including without limitation the right to terminate Subtenant’s assets or of Subtenant’s interest in this Sublease and recover possession remains unstayed or undismissed for a period of more than thirty (30) days;
m. A substantial part of Subtenant’s assets or of Subtenant’s interest in this Sublease is taken by legal process in any action against Subtenant; or
n. Any of the Leased Premises free of all rights and interests foregoing occur as to any guarantor or surety of Subtenant)’s performance under this Sublease, or such guarantor or surety defaults on any provision under its guaranty or suretyship agreement.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 2 contracts
Samples: Sublease (Cord Blood America, Inc.), Sublease (Cord Blood America, Inc.)
Default by Subtenant. (a) Each of the following shall be an “Event of Default” by Subtenant and a material breach of the provisions of this Sublease: if Subtenant (i) fails to pay in full any amounts owed under this Sublease on the date due and such failure continues for more than three (3) days past such due date, provided that if such failure is the first (1st) failure of the current calendar year, Subtenant shall be entitled to an additional grace period of five (5) days after written notice from Sublandlord; or (ii) fails to perform any other obligation, term, covenant or condition of this Sublease or of the Master Lease which pursuant to this Sublease is the obligation of the Subtenant, and such failure continues for more than thirty (30) days after receiving notice thereof from Sublandlord, or (iii) commits any act or omission, or allows to be committed any act or omission, which constitutes a breach of any of the terms, obligations, covenants or conditions under the Master Lease applicable to the Tenant or under this Sublease. Upon the happening occurrence of any Event of Default by Subtenant, Sublandlord may, at Sublandlord’s option without any further demand or notice, in addition to any other remedy or right, given hereunder or by law, do any of the following:
(i) Re-enter the Sublease Premises, take possession thereof, eject all persons therefrom using all necessary force to do so, and, with or without re-entry, declare this Sublease at an end, in which event Subtenant fails shall immediately pay Sublandlord a sum of money equal to pay any Base Rent or Additional Rent within five the worth at the time of award of the aggregate of (51) days the unpaid rent which had been earned at the time of termination, (2) the amount by which (i) the unpaid rent which would have been earned after termination until the time of award by the Court having jurisdiction thereof exceeds (ii) the amount of such rental loss that the Subtenant proves could have been reasonably avoided by Sublandlord, (3) the amount by which (i) the unpaid rent for the balance of the Term after the date it is due;time of the award exceeds (ii) the amount of such rental loss that Subtenant proves could reasonably be avoided, and (4) all other amounts necessary to compensate Sublandlord for all the detriment proximately caused by Subtenant’s default or which in the ordinary course of things would be likely to result therefrom, including actual or anticipated costs of releasing the Sublease Premises. The amounts covered by items (1) and (2) shall be computed by allowing interest at the Interest Rate described in the Master Lease. The worth at the time of award of the amount described in (3) shall be discounted at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus one percent (1%).
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in this Sublease and such failure continues until the earlier of (1) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord In accordance with California Civil Code Section 1951.4 (or any agentsuccessor statute), Subtenant acknowledges that this Sublease shall continue in effect for so long as Sublandlord does not elect to terminate the Sublease in accordance with item (i) above. representative, officer, director, manager or shareholder Without termination of Subtenant) or the Leased Premises, subject ’s right to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all possession of the equivalent rights and remedies of Sublease Premises Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation shall have the right to terminate collect, by action or otherwise, each installment of Base Rental or other sum as the same becomes due and payable, which rent or other sum shall bear interest at the Interest Rate from the date when due until paid, or enforce, by action or otherwise, any other term or covenant of this Sublease or the Master Lease. Acts of Maintenance, preservation or efforts to lease the Sublease Premises, or the appointment of a receiver upon application of Sublandlord to protect Sublandlord’s interest under this Sublease, shall not constitute an election by Sublandlord to terminate Subtenant’s right to possession. In addition to its other rights under this Sublease, Sublandlord has the remedy described in California Civil Code Section 1951.4 (Sublandlord may continue the Sublease in effect after Subtenant’s breach and abandonment and recover possession of Base Rental and other amounts as they become due, if Subtenant has the Leased Premises free of all rights and interests of Subtenantright to sublet or assign, subject only to reasonable limitations).
(b) In Sublandlord, when exercising any right of re-entry set forth above, may remove all Subtenant’s property from the event Subtenant fails Sublease Premises, and such property may be stored by Sublandlord in a public warehouse or refuses elsewhere at the sole cost and for the account of Subtenant. If Sublandlord does not elect to make store any payment or perform any covenantall of Subtenant’s property left in the Sublease Premises, obligation or agreement Sublandlord may consider such property to be performed hereunder abandoned by Subtenant, and Sublandlord may make thereupon dispose of such payment or undertake property in any manner deemed appropriate by Sublandlord. Any proceeds realized by Sublandlord on the disposal of any such property shall be applied first to offset all expenses of storage and sale, then credited against Subtenant’s outstanding obligations to Sublandlord under this Sublease (and any balance remaining after satisfaction of all obligations of Subtenant under this Sublease shall be delivered to Subtenant). Notwithstanding any reletting by Sublandlord without termination of this Sublease allowed above and by law, Sublandlord may at any time thereafter elect to terminate this Sublease for any such previous breach. Sublandlord’s right of entry shall include the right to remodel the Sublease Premises and re-let the Sublease Premises. All costs incurred in such entry and re-letting shall be paid by Subtenant.
(c) If an Event of Default occurs, Sublandlord may perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so)condition at its sole option. In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees All costs incurred by Sublandlord in so performing shall immediately be reimbursed to Sublandlord by Subtenant.
(d) The rights and remedies of Sublandlord set forth herein are not exclusive, and Sublandlord may exercise any other right or Landlord remedy available to it under this Sublease, the Master Lease, at law, or in connection therewith, together with interest at the Default Rate, shall be additional rent hereunderequity.
Appears in 2 contracts
Samples: Sub Sublease Agreement, Sub Sublease Agreement (Responsys Inc)
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five fifteen (515) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for thirty (130) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may beSubtenant; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased PremisesPrime Lease Space and such default is not cured within the lesser of (a) thirty (30) days after notice thereof from Sublandlord to Subtenant, subject or (b) such period of time as permitted under the Prime Lease to any notice and cure periods thereunder; such default. Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ ' fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Mai Systems Corp)
Default by Subtenant. (a) Upon the happening The occurrence of any of the following:
following events shall constitute a default by Subtenant under this Sublease: (ia) Subtenant fails to pay in a timely manner any Base installment of Sublease Basic Monthly Rent or Additional Rent any other sum due under this Sublease, and such failure is not cured within five three (53) business days after written notice is given to Subtenant that the date it same is past due;
; (iib) Subtenant fails to pay observe or perform in a timely manner any other amount due from term, covenant or condition to be observed or performed by Subtenant hereunder and such failure continues for under the Lease or this Sublease within five (5) business days after written notice thereof from Sublandlord is given to Subtenant;
Subtenant of such failure; provided, however, that if more than five (5) business days is reasonably required to cure such failure, Subtenant shall not be in default if Subtenant commences such cure within such five (5) business day period and diligently prosecutes such cure to completion; (c) Subtenant (i) files a petition in bankruptcy, (ii) becomes insolvent, (iii) has taken against Subtenant fails in any court, pursuant to perform state or observe any other covenantfederal statute, obligation a petition in bankruptcy or agreement set forth in insolvency or for reorganization or appointment of a receiver or trustee (and such petition is not dismissed within sixty (60) days), (iv) petitions for or enters into an arrangement for the benefit of creditors, or (v) suffers this Sublease to become subject to a writ of execution; or (d) Subtenant vacates or abandons the Subleased Premises, if such vacation would adversely affect or render void the property insurance carried by Landlord on the Building; provided, however, that if the sole, adverse effect caused by such vacation is an increase in the premium for such property insurance and Subtenant pays the incremental amount of such failure continues until the earlier of (1) increase within ten (10) business days after written notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Leasethereof, any Superior Interest or any Ancillary Document, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant such vacation shall not be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate Subtenant under this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)Sublease.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Pluralsight, Inc.)
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent Allowance Amortization Payment within five (5) business days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five ten (510) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for fifteen (115) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may beSubtenant; or
(iv) any other event occurs which involves Subtenant or the Leased Subleased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Master Premises, subject and for which Sublandlord has provided notice to any Subtenant (so long as Sublandlord is entitled to receive notice and cure periods thereunderof such event under the terms of the Prime Lease); Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest on all of the foregoing at the Default Raterate specified in Section 4(c) above as applicable to late payments of rent, shall be due as additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Capitalsource Inc)
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Minimum Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five three (53) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for seven (17) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may beSubtenant; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunderpremises covered by the Prime Lease; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Costar Group Inc)
Default by Subtenant. (a) Upon the happening The following shall constitute events of any default (each an "Event of the following:Default"):
(i) if (A) Subtenant fails shall fail to pay any Base Fixed Rent or Additional Rent on the due date thereof and such default shall continue for a period of three (3) business days after notice by Sublandlord to Subtenant of such default (provided, however, that Sublandlord shall not be required to deliver such notice more than two (2) times in any twelve (12) month period, it being understood that any further failure to pay any Fixed Rent or Additional Rent on the due date thereof within five such twelve (512) month period shall constitute an immediate Event of Default), or (B) Subtenant shall fail to comply with any term, provision or covenant of this Sublease or any applicable term, provision or covenant of the Lease (to the extent incorporated herein by reference), and Subtenant shall fail to remedy such failure within twenty (20) days after notice from Sublandlord, or if such failure complained of shall be of a nature that the same cannot be completely cured and remedied within said twenty (20) day period, and Subtenant shall not (1) promptly upon the giving by Sublandlord of such notice, advise Sublandlord of Subtenant's intention to institute all steps necessary to remedy such situation, (2) promptly institute and thereafter diligently pursue all steps necessary to remedy the same and (3) effect such remedy within a reasonable time not to exceed sixty (60) days after the date it is dueof the giving of said notice by Sublandlord and in any event prior to such time as would either (y) subject Landlord, Sublandlord, Sublandlord's agents or any mortgagee or ground lessee to civil or criminal liability or prosecution for a crime, or (z) cause a default under any applicable mortgage or ground lease;
(ii) if (A) any petition is filed by Subtenant under any provision of Federal or state bankruptcy laws or other statute whether domestic or foreign involving creditors' rights or the insolvency of debtors or any such petition is filed against Subtenant and Subtenant fails to pay any other amount due from secure a dismissal or stay thereof within thirty (30) days, or (B) Subtenant hereunder shall become insolvent or make an assignment for the benefit of creditors, or (C) a receiver is appointed for all or substantially all of the assets of Subtenant and such failure continues for five Subtenant fails to secure a dismissal or stay thereof within thirty (530) business days after notice thereof from Sublandlord to Subtenant;days; or
(iii) if Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in this Sublease and such failure continues until deliver the earlier Letter of (1) ten (10) business days after notice thereof from Sublandlord Credit as required pursuant to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of SubtenantSection 19(a).
(b) Upon the occurrence of an Event of Default Sublandlord shall have the right, at its option, to do and perform any one or more of the following, in addition to, and not in limitation of any other remedy or right permitted it by law, by this Sublease or by the Lease:
(i) terminate this Sublease, in which event Subtenant shall immediately surrender the Subleased Premises to Sublandlord, but if Subtenant shall fail to do so, Sublandlord may, without prejudice to any other right or remedy Sublandlord may have, either by law or under this Sublease or otherwise, obtain possession or rent in arrears or damages for breach of contract, enter upon the Subleased Premises and expel or remove Subtenant and Subtenant's personal property, with or without force and without being liable to Subtenant, and Subtenant agrees to indemnify and hold Sublandlord harmless for all losses or damage which Sublandlord may suffer by reason of such termination, whether through inability to relet the Subleased Premises or through decrease in rent or by damage to the Subleased Premises, or otherwise, or
(ii) enter the Subleased Premises and remove Subtenant and its improvements and personal property therefrom without terminating this Sublease or being liable to Subtenant in any manner whatsoever for such acts, and, at Sublandlord's option, relet the Subleased Premises as the agent of Subtenant and receive rent therefor, and in such event Subtenant shall be liable on a monthly basis when rent is otherwise due and payable to Sublandlord for any deficiency which may arise by reason of such reletting during the remainder of the Term of this Sublease, but shall not be entitled to any surplus so arising. In the event Subtenant fails or refuses to make any payment or perform any covenantof a conflict between the provisions of this Paragraph 8 and the provisions of the Lease, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but the provisions of this Paragraph 8 shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunderprevail.
Appears in 1 contract
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five three (53) business days after notice thereof from Sublandlord to SubtenantSubten-ant;
(iii) Subtenant fails to perform or observe any other covenant, obligation cove-nant or agreement set forth in this Sublease and such failure continues until the earlier of for seven (17) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may beSubtenant; or
(iv) any other event occurs which involves Subtenant or the Leased Sublease Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exerciseexer-cise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performanceperfor-mance, together with all costs, expenses and reasonable expenxxx xnd attorneys’ ' fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Spacedev Inc)
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent on the date it is due; provided, however, Subtenant shall not be in default hereunder unless such failure is not cured within five (5) days after Sublandlord’s written notice of such failure, it being acknowledged and agreed that Sublandlord shall not be obligated to provide such written notice to Subtenant more than once during the date it is dueterm of this Sublease and any subsequent failure by Subtenant to pay Base Rent when due shall be a default hereunder with no notice or cure period required hereunder;
(ii) Subtenant fails to pay additional rent or any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for twenty (120) ten (10) business days after notice thereof from Sublandlord to Subtenant; provided, however, that if such failure is not reasonably capable of being cured within such 20-day period notwithstanding the exercise of diligent efforts by Subtenant or and Subtenant diligently commences to cure such failure and diligently pursues such cure, then the twenty (220) any earlier date specified day period set forth herein shall be extended for default under the Prime Lease, any Superior Interest or any Ancillary Document, such time as the case may beis necessary to cure such failure; or
(iv) any other event occurs which involves Subtenant or the Leased Subleased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Master Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exerciseexercise against Subtenant, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation in its capacity as Tenant pursuant to the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)Prime Lease.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by SubtenantSubtenant and such failure or refusal is not cured within the applicable cure period set forth in Section 7(a) hereof, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest on all of the foregoing at the Default Raterate specified in Section 4(d) above as applicable to late payments of rent, shall be due on demand as additional rent hereunder.
Appears in 1 contract
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) business days after the date it is due; provided that, on up to two (2) occasions in any twelve (12) month period, there shall exist no default unless Subtenant shall have been given written notice of such failure and shall not have made the payment within five (5) business days following the giving of such notice;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after written notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for twenty (120) ten (10) business days after written notice thereof from Sublandlord to Subtenant; but if the failure is of a nature that it cannot be cured within such twenty (20) day period, there shall exist no default if Subtenant or commences the curing of the failure within such twenty (220) any earlier date specified for default under day period and thereafter diligently pursues the Prime Lease, any Superior Interest or any Ancillary Document, as the case may becuring of same; or
(iv) any other event occurs which involves Subtenant or the Leased Subleased Premises or any part thereof and which would constitute a default beyond cure periods under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Master Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may may, after providing Subtenant with written notice and a reasonable opportunity to cure, make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all the reasonable amounts so paid and all the reasonable amounts expended in undertaking such performance, together with all actual out-of-pocket costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest on all of the foregoing at the Default Raterate specified in Section 4(c) above as applicable to late payments of rent, shall be due as additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Capitalsource Inc)
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it such payment is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for thirty (130) ten (10) business days after notice thereof from Sublandlord to Subtenant; provided, however, that if such failure cannot be cured within such 30-day period, then Subtenant or shall not be in default hereunder if Subtenant commences the cure within the 30-day period and thereafter diligently pursues the cure to completion, but not to exceed ninety (290) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may bedays after notice thereof; or
(iv) any other event occurs which involves Subtenant or the Leased Subleased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved the Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Master Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest on all of the foregoing at the Default Raterate specified in Section 4(d) above as applicable to late payments of rent, shall be due as additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Capitalsource Inc)
Default by Subtenant. (a) Upon Subtenant shall do nothing that will subject the happening Main Lease or Main Sublease to termination by Lessor or Landlord, respectively, under the provisions of the Main Lease or Main Sublease. If Subtenant is in default under the provisions of the Main Lease and/or Main Sublease, Landlord and/or Tenant shall be entitled, but not obligated, to cure such default on behalf of and for the account of Subtenant, in which case all damages and expenses, including without limitation reasonable attorneys' fees, incurred by Landlord and/or Tenant in connection with such cure, together with interest thereon until paid at the maximum rate permitted under applicable law, shall be paid by Subtenant to Landlord and/or Tenant, as applicable, immediately upon Landlord and/or Tenant's demand therefor. By so curing any such default of Subtenant on behalf of and for the account of Subtenant, neither Landlord nor Tenant shall not be deemed to have waived any of its/their rights or released Subtenant from any of its obligations under this Sublease. Landlord and/or Tenant shall, however, also be entitled to cure such default on its/their own account to preserve its/their interest in and under the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder Main Lease and/or Main Sublease, and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in may terminate this Sublease by reason of such default of Subtenant if Subtenant does not pay to Landlord and/or Tenant, as applicable, all damages and expenses, including without limitation reasonable attorneys' fees, incurred by Landlord and/or Tenant in connection with such failure continues cure, together with interest thereon until paid at the earlier of (1) maximum rate permitted under applicable law, within ten (10) business days after notice thereof from Sublandlord demand therefor. In the event that the Main Lease is terminated by Lessor, or the Main Sublease is terminated by Landlord by reason of Subtenant's default, Subtenant shall indemnify Landlord and Tenant respectively against, and hold Landlord and/or Tenant harmless from, all damages and expenses that Landlord and/or Tenant may become liable to Subtenant or (2) any earlier date specified for default pay under the Prime LeaseMain Lease resulting from such default, any Superior Interest or any Ancillary Documentplus all other reasonable out-of-pocket expenses relating thereto, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant).
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder' fees.
Appears in 1 contract
Default by Subtenant. (a) The following shall constitute events of default (each an “Event of Default”):
(i) if (A) Subtenant shall fail to pay any Fixed Rent or Additional Rent on the due date thereof and such default shall continue for a period of ten (10) days after notice by Sublandlord to Subtenant of such default, or (B) Subtenant shall fail to comply with any term, provision or covenant of this Sublease or any applicable term, provision or covenant of the Lease, or Subtenant shall violate any rules and regulations now or hereafter established for the operation of the Building and Subtenant shall fail to remedy such failure within thirty (30) days after notice from Sublandlord, or if such failure complained of shall be of a nature that the same cannot be completely cured and remedied within said thirty (30) day period, and Subtenant shall not (1) promptly upon the giving by Sublandlord of such notice, advise Sublandlord of Subtenant’s intention to institute all steps necessary to remedy such situation, (2) promptly institute and thereafter diligently pursue all steps necessary to remedy the same and (3) effect such remedy within a reasonable time after the date of the giving of said notice by Sublandlord and in any event prior to such time as (y) is required under the Lease (taking account of any applicable notice and cure periods granted thereunder and extensions thereof, if any, granted by Landlord), or (z) would subject Landlord or Sublandlord to civil or criminal liability or prosecution for a crime; or
(ii) if (A) any petition is filed by Subtenant under any provision of Federal or state bankruptcy laws or other statute whether domestic or foreign involving creditors’ rights or the insolvency of debtors or any such petition is filed against Subtenant and Subtenant fails to secure a dismissal or stay thereof within ninety (90) days, or (B) Subtenant shall become insolvent or make an assignment for the benefit of creditors, or (C) a receiver is appointed for all or substantially all of the assets of Subtenant and Subtenant fails to secure a dismissal or stay thereof within ninety (90) days, or (D) all or a material portion of the Subleased Premises shall be abandoned, deserted or vacated; or
(iii) if Subtenant fails to deliver the Security Deposit or any replenishment thereof as required pursuant to Section 19 hereof.
(b) Upon the happening occurrence of an Event of Default Sublandlord shall have the right, at its option, to do and perform any one or more of the following, in addition to, and not in limitation of any other remedy or right permitted it by law, by this Sublease or by the Lease:
(i) terminate this Sublease, in which event Subtenant fails shall immediately surrender the Subleased Premises to pay Sublandlord, but if Subtenant shall fail to do so, Sublandlord may, without prejudice to any Base Rent other right or Additional Rent within five (5) days after remedy Sublandlord may have, either by law or under this Sublease or otherwise, obtain possession or rent in arrears or damages for breach of contract, enter upon the date it is due;Subleased Premises and expel or remove Subtenant and Subtenant’s personal property through legal means and without being liable to Subtenant, and Subtenant agrees to indemnify and hold Sublandlord harmless for all losses or damage which Sublandlord may suffer by reason of such termination, whether through inability to relet the Subleased Premises or through decrease in rent or by damage to the Subleased Premises, or otherwise, or less any amounts received by Sublandlord in reletting the Subleased Premises; or
(ii) enter the Subleased Premises and remove Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in its improvements and personal property therefrom without terminating this Sublease and such failure continues until the earlier of (1) ten (10) business days after notice thereof from Sublandlord or being liable to Subtenant or (2) in any earlier date specified manner whatsoever for default under such acts, and, at Sublandlord’s option, relet the Prime Lease, any Superior Interest or any Ancillary Document, Subleased Premises as the case may be; or
(iv) any other agent of Subtenant and receive rent therefor, and in such event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed liable on a monthly basis when rent is otherwise due and payable to be in default hereunder, and Sublandlord for any deficiency which may exercise, without any further demand or notice, and without limitation arise by reason of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all such reletting during the remainder of the equivalent rights and remedies Term of Landlord set forth in the Prime Lease with respect this Sublease, but shall not be entitled to the Leased Premises in any surplus so arising. In the event of a default by Sublandlord thereunder (including without limitation conflict between the right to terminate provisions of this Sublease Section 8 and recover possession the provisions of the Leased Premises free Lease, the provisions of all rights and interests of Subtenant)this Section 8 shall prevail.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Default by Subtenant. (a) The following shall constitute events of default (each an “Event of Default”):
(i) if (A) Subtenant shall fail to pay any Fixed Rent or Additional Rent on the due date thereof and such default shall continue for a period of seven (7) days after notice by Sublandlord to Subtenant of such default (provided, however, that Sublandlord shall not be required to deliver such notice more than two (2) times in any twelve (12) month period, it being understood that any further failure to pay any Fixed Rent or Additional Rent on the due date thereof within such twelve (12) month period shall constitute an immediate Event of Default), or (B) Subtenant shall fail to comply with any term, provision or covenant of this Sublease or any applicable term, provision or covenant of the Lease, or Subtenant shall violate any rules and regulations now or hereafter established for the operation of the Building and Subtenant shall fail to remedy such failure within fifteen (15) days after written notice from Sublandlord, or if such failure complained of shall be of a nature that the same cannot be completely cured and remedied within said fifteen (15) day period, and Subtenant shall not (1) promptly upon the giving by Sublandlord of such notice, advise Sublandlord of Subtenant’s intention to institute all steps necessary to remedy such situation, (2) promptly institute and thereafter diligently pursue all steps necessary to remedy the same and (3) effect such remedy within a reasonable time (not to exceed sixty (60) days) after the date of the giving of said notice by Sublandlord and in any event prior to such time as would either (y) subject Landlord, Sublandlord, Sublandlord’s agents or any mortgagee or ground lessee to civil or criminal liability or prosecution for a crime, or (z) cause a default under any applicable mortgage or ground lease; or
(ii) if (A) any petition is filed by Subtenant under any provision of Federal or state bankruptcy laws or other statute whether domestic or foreign involving creditors’ rights or the insolvency of debtors or any such petition is filed against Subtenant and Subtenant fails to secure a dismissal or stay thereof within thirty (30) days, or (B) Subtenant shall become insolvent or make an assignment for the benefit of creditors, or (C) a receiver is appointed for all or substantially all of the assets of Subtenant and Subtenant fails to secure a dismissal or stay thereof within sixty (60) days, or (D) all or a material portion of the Subleased Premises shall be abandoned, deserted or vacated.
(b) Upon the happening occurrence of an Event of Default, Sublandlord shall have the right, at its option, to do and perform any one or more of the following, in addition to, and not in limitation of any other remedy or right permitted it by law, by this Sublease or by the Lease:
(i) terminate this Sublease, in which event Subtenant fails shall immediately surrender the Subleased Premises to pay Sublandlord, but if Subtenant shall fail to do so, Sublandlord may, without prejudice to any Base Rent other right or Additional Rent within five (5) days after remedy Sublandlord may have, either by law or under this Sublease or otherwise, obtain possession or rent in arrears or damages for breach of contract, enter upon the date it is due;Subleased Premises and expel or remove Subtenant and Subtenant’s personal property, with or without force and without being liable to Subtenant, and Subtenant agrees to indemnify and hold Sublandlord harmless for all losses or damage which Sublandlord may suffer by reason of such termination, whether through inability to relet the Subleased Premises or through decrease in rent or by damage to the Subleased Premises, or otherwise, or
(ii) enter the Subleased Premises and remove Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in its personal property therefrom without terminating this Sublease and such failure continues until the earlier of (1) ten (10) business days after notice thereof from Sublandlord or being liable to Subtenant or (2) in any earlier date specified manner whatsoever for default under such acts, and, at Sublandlord’s option, relet the Prime Lease, any Superior Interest or any Ancillary Document, Subleased Premises as the case may be; or
(iv) any other agent of Subtenant and receive rent therefor, and in such event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed liable on a monthly basis when rent is otherwise due and payable to be in default hereunder, and Sublandlord for any deficiency which may exercise, without any further demand or notice, and without limitation arise by reason of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all such reletting during the remainder of the equivalent rights and remedies Term of Landlord set forth in the Prime Lease with respect this Sublease, but shall not be entitled to the Leased Premises in any surplus so arising. In the event of a default by Sublandlord thereunder (including without limitation conflict between the right to terminate provisions of this Sublease Paragraph 8 and recover possession the provisions of the Leased Premises free Lease, the provisions of all rights and interests of Subtenant)this Paragraph 8 shall prevail.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease Agreement (Actinium Pharmaceuticals, Inc.)
Default by Subtenant. (a) Upon Subtenant shall do nothing that will subject the happening Main Lease to termination by Landlord under the provisions of the Main Lease. If Subtenant is in default under the provisions of the Main Lease, Tenant shall be entitled, but not obligated, to cure such default on behalf of and for the account of Subtenant, in which case all damages and expenses, including without limitation reasonable attorneys’ fees, incurred by Tenant in connection with such cure, together with interest thereon until paid at the maximum rate permitted under applicable law, shall be paid by Subtenant to Tenant, as additional rent hereunder, immediately upon Tenant’s demand therefor. By so curing any such default of Subtenant on behalf of and for the account of Subtenant, Tenant shall not be deemed to have waived any of its rights or released Subtenant from any of its obligations under this Sublease. Tenant shall, however, also be entitled to cure such default on its own account to preserve its interest in and under the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder Main Lease, and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in may terminate this Sublease by-reason of such default of Subtenant if Subtenant does not pay to Tenant, as additional rent hereunder, all damages and expenses, including without limitation reasonable attorneys’ fees, incurred by Tenant in connection with such failure continues cure, together with interest thereon until paid at the earlier of (1) maximum rate permitted under applicable law, within ten (10) business days after notice thereof from Sublandlord demand therefor. In the event Tenant terminates this Sublease due to a default by Subtenant, Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Documentshall immediately reimburse Tenant, as additional rent, the case may be; or
unamortized value of the Free Rent (ivamortized on a straight-line basis over the term of this Sublease) any other event occurs as of the date of such termination, which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant remedy shall be deemed in addition to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation all of any Tenant’s other rights and remedies available to it hereunder or set forth herein and at law or and in equity. In the event that the Main Lease is terminated by Landlord by reason of Subtenant’s default, Subtenant shall indemnify Tenant against, and hold Tenant harmless from, all of which rights are hereby expressly reserveddamages and expenses that Tenant may become liable to pay under the Main Lease resulting from such default, any and plus all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (other expenses relating thereto, including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant).
(bi) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred and the full expense (including the value of the work required to be done by Sublandlord or Landlord in connection therewithTenant’s personnel) of relocating Tenant to new leased premises as a replacement for the Tenant’s Premises, together with interest at the Default Rate, which new leased premises shall be additional rent hereunderat least equivalent to the Tenant’s Premises in terms of size, quality of location, and quality of construction and (ii) the unamortized value of the Free Rent (amortized on a straight-line basis over the term of this Sublease) as of the date of such termination.
Appears in 1 contract
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent any other amount due from Subtenant hereunder within five (5) days after the date it when same is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for thirty (130) ten (10) business days after notice thereof from Sublandlord to Subtenant, except that Subtenant or shall not be in default if said failure cannot be cured within thirty (230) any earlier days after the date specified for default under of such notice provided that Subtenant commences to cure within thirty (30) days after the Prime Leasedate of such notice, any Superior Interest or any Ancillary Document, as thereafter diligently pursues curing of the case may befailure and completes such cure within sixty (60) days after the date of the initial notice from Sublandlord; or
(iviii) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of limiting any other rights and or remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts or expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ ' fees incurred by Sublandlord or Landlord in connection therewith, together with therewith and interest on such amounts from the date when so paid or expended at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Macrochem Corp)
Default by Subtenant. (a) Upon the happening of any of the following:
(ia) Subtenant fails Subtenant's failure to pay any installment of Base Rent or Additional Rent within five (5) days after the date it is when due;
(iib) Subtenant fails Subtenant's failure to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iiic) Subtenant fails Subtenant's failure to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for fifteen (115) ten (10) business days after notice thereof from Sublandlord to Subtenant Subtenant, or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as in the case may beof a default that cannot, with due diligence, be cured within said fifteen (15) days period, Subtenant's failure to commence to cure such default within said fifteen (15) day period and thereafter diligently prosecute the same; or
(ivd) The occurrence of any other event occurs which involves Subtenant involving Subtenant, any guarantor of Subtenant's obligations under the Sublease, or the Leased Sublease Premises or any part thereof and which that would constitute a default under the Prime Lease if it involved Sublandlord (or Sublandlord, any agent. representativeguarantor of Sublandlord's obligations under the Prime Lease, officer, director, manager or shareholder of Subtenant) or the Leased Sublease Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, equity ,any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by the tenant thereunder. No receipt of moneys by Sublandlord thereunder (including without limitation from Subtenant after the right to terminate this Sublease and recover possession termination in any way of the Leased Premises free of all rights and interests term or of Subtenant).
(b) In 's right of possession hereunder or after the event Subtenant fails giving of any notice shall reinstate, continue or refuses to make extend the term or affect any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation notice given to Subtenant or any suit commenced or judgment entered prior to do so). In receipt of such eventmoneys, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred except to the extent expressly agreed to by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunderSublandlord.
Appears in 1 contract
Samples: Sublease (Ipayment Inc)
Default by Subtenant. (a) Upon the happening The occurrence of any of the followingfollowing during the Term of this Sublease will be an event of default:
(i) a. Subtenant fails to pay any installment of Base Rent Rent, or Additional Rent within or any other allowed charge, when the same is due and it remains unpaid for a period of five (5) days after following receipt of written notice by Subtenant from Tenant; or
b. Subtenant fails to comply with any other provision of this Sublease, and does not cure such noncompliance within thirty (30) days of Tenant’s written notice to Subtenant of such noncompliance, or such longer period as may be reasonably necessary to effect a cure given the date nature of such noncompliance, but in no event more than sixty (60) days; or
c. Subtenant files or has filed against it is due;
or any guarantor of this Sublease any bankruptcy or other creditor’s action, or makes an assignment for the benefit of its creditors. Upon the occurrence of an event of default beyond any applicable notice and cure periods, Tenant may elect, upon ten (10 days’ written notice to Subtenant, either (i) to cancel and terminate this Sublease, or (ii) Subtenant fails to pay any other amount due from Subtenant hereunder terminate Subtenant's right to possession only without canceling and such failure continues for terminating this Sublease. Notwithstanding the fact that initially Tenant elects under (ii) above to terminate Subtenant's right to possession only, Tenant will have the continuing right to cancel and terminate this Sublease upon five (5) business days notice to Subtenant of such further election, and will have the right to pursue any remedy of law or in equity that may be available to Tenant. In the event of election under (ii) above to terminate Subtenant's right to possession only, Tenant, at its option, may enter into and take possession of the Premises without such entry and possession terminating this Sublease, or releasing Subtenant, in whole or in part, from Subtenant's obligations to pay the Rent and any other charges provided for herein. Upon and after entering into possession without termination of the Sublease, Tenant may remove all persons and property from the Premises, and such property may be stored in a public warehouse or elsewhere at the cost and for the account of Subtenant, without Tenant becoming liable for any loss or damage which may be occasioned thereby. Upon such re-entry, Subtenant will be liable to Tenant:
a. For the immediate payment of all unpaid installments of Rent and other unpaid sums that were due prior to such re-entry;
b. For the installments of Rent and other sums due pursuant to the provisions of this Sublease for the periods after re-entry, less any rents paid to Tenant thereafter, if any; and
c. For all reasonable expenses, including advertising expenses, brokerage fees, attorneys' fees, and costs of repairs, which will be payable as they are incurred. No re-entry or taking possession of the Premises by Tenant will be construed as an election on its part to terminate this Sublease unless a written notice thereof from Sublandlord of such intention be given to Subtenant;
(iii) Subtenant fails , or unless the termination thereof be decreed by a court of competent jurisdiction. Except as provided by law, all rights and remedies of the parties herein enumerated shall be cumulative and are not intended to perform or observe be exclusive of any other covenant, obligation remedies or agreement set forth means of redress to which such party may be lawfully entitled in case of any breach or threatened breach of the other party of any provision of this Sublease. The failure of either party to insist in any one or more cases upon the strict performance of any of the covenants of this Sublease or to exercise any option herein contained shall not be construed as a waiver or relinquishment for the future of such covenant or option. A receipt by Tenant of rent with knowledge of the breach of any covenant hereof (other than breach of the obligation to pay the portion of such rent paid) shall not be deemed a waiver of such breach, and such failure continues until the earlier no waiver by either party of (1) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder provisions of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant this Sublease shall be deemed to have been made unless expressed in writing and signed by such party. In addition to other remedies in this Sublease provided, the parties shall be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any entitled to all other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all including but not limited to the restraint by injunction of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession violation or attempted or threatened violation of the Leased Premises free covenants, conditions and provisions of all rights and interests of Subtenant)this Sublease.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease Agreement (VioQuest Pharmaceuticals, Inc.)
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Gross Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five three (53) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for seven (17) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may beSubtenant; or
(iv) any other event occurs which that involves Subtenant or the Leased Premises or any part thereof and which that would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunderpremises covered by the Prime Lease; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event that Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Immediatek Inc)
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional within five (5) days after receipt of notice of non-payment from Sublandlord except that in no event shall Sublandlord be obligated to provide written notice of any such monetary default more than two (2) times in any twelve (12) consecutive month period, and following such two (2) instances in any such twelve (12) month period, Subtenant shall be in default hereunder if it fails to pay any Base Rent within five (5) days after the date it same is duedue hereunder (Sublandlord and Subtenant acknowledge and agree that the notice provided for in this clause (i) shall be in lieu of and not in addition to any notice required under California Code of Civil Procedure, Section 1161 (regarding unlawful detainer), or any successor statute);
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five fifteen (515) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for thirty (130) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may beSubtenant; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased PremisesPrime Lease Space and such default is not cured within the lesser of (a) thirty (30) days after notice thereof from Sublandlord to Subtenant, subject or (b) such period of time as permitted under the Prime Lease to any notice and cure periods thereunder; such default. Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ ' fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Western Digital Corp)
Default by Subtenant. The occurrence of any one or more of the following events (in this Section 18 sometimes called an "EVENT OF DEFAULT") shall constitute a default and breach of this Sublease by Subtenant:
(a) If Subtenant fails to pay Rent or any other amount when due and payable, and such failure continues for a period of ten (10) days after written notice thereof is given by Sublandlord to Subtenant.
(b) If Subtenant fails to perform any of Subtenant's nonmonetary obligations under this Sublease for a period of thirty (30) days after written notice thereof is given by Sublandlord to Subtenant; provided, however, that if such failure is of the nature that it cannot reasonably be cured within such thirty-day period, then Subtenant shall have such additional time as is reasonably necessary to cure such failure as long as Subtenant commences to cure such failure within such thirty-day period and thereafter diligently pursues such cure to completion.
(c) If (i) Subtenant makes a general assignment or general arrangement for the benefit of creditors; (ii) a petition for adjudication of bankruptcy or for reorganization or rearrangement is filed by or against Subtenant and is not dismissed within thirty (30) days; (iii) a trustee or receiver is appointed to take possession of substantially all of Subtenant's assets located at the Subleased Premises or of Subtenant's interest in this Sublease and possession is not restored to Subtenant within thirty (30) days; or (iv) substantially all of Subtenant's assets located at the Subleased Premises or of Subtenant's interest in this Sublease is subjected to attachment, execution or other judicial or non-judicial seizure which is not discharged within thirty (30) days.
(d) If Subtenant fails to comply with any applicable terms and provisions of the Lease or causes or permits any default under the Lease. Upon the happening occurrence of an Event of Default by Subtenant, and at any time thereafter, with or without notice or demand and without limiting Sublandlord in the exercise of any of other right or remedy which Sublandlord may have, Sublandlord shall be entitled to exercise the followingfollowing rights and remedies:
(i) Sublandlord may terminate Subtenant's right to possession of the Subleased Premises by any lawful means (in which case this Sublease shall not terminate unless Sublandlord gives written notice to Subtenant fails of its intention to pay any Base Rent or Additional Rent within five (5) days after terminate this Sublease), in which event Subtenant shall immediately surrender possession of the date it is due;Subleased Premises to Sublandlord.
(ii) At any time after an Event of Default, whether or not Sublandlord shall have terminated this Sublease, Sublandlord shall be entitled to recover from Subtenant, and Subtenant fails shall pay to pay Sublandlord, on demand, for damages for Subtenant's default, an amount equal to the then present worth of (A) the aggregate of the Rent and any other amount due from charges to be paid by Subtenant hereunder and such failure continues for five the unexpired portion of the Term (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in assuming this Sublease and such failure continues until had not been terminated), less (B) the earlier of (1) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all fair market rental value of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Subleased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant).
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make during such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performanceperiod, together with all costsother damages suffered by Sublandlord, expenses which shall include, without limitation, all costs of renovating the Subleased Premises and reletting same and reasonable attorneys’ fees incurred ' fees. Nothing herein contained shall limit or prejudice the right of Sublandlord to prove and obtain, as damages, an amount equal to the maximum allowed by Sublandlord any statute or Landlord rule of law in connection therewith, together with interest effect at the Default Ratetime when, and governing the proceedings in which, such damages are to be proved, whether or not such amount is greater than, equal to or less than the amount referred to above. All rights, options and remedies of Sublandlord contained in this Sublease shall be additional rent hereunderconstrued and held to be cumulative, and no one of them shall be exclusive of the other, and Sublandlord shall have the right to pursue any one or all of such remedies or any other remedy or relief which may be provided by law whether or not stated in this Sublease.
Appears in 1 contract
Samples: Land and Building Lease Agreement (Aerobic Creations, Inc.)
Default by Subtenant. (a) Upon In addition to any event or occurrence which constitutes a “default” under the happening terms of any Section 22 of the following:
Prime Lease (i) Subtenant fails to pay which have been incorporated into this Sublease by reference, including any Base Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder notice and such failure continues for five (5) business days after notice thereof from Sublandlord cure periods set forth therein, which shall apply to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement unless a different notice and cure period is set forth in this Sublease and such failure continues until the earlier of (1) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Leaseherein), any Superior Interest or any Ancillary Document, as the case may be; or
(iv) if any other event occurs (after any applicable period of notice and cure) which involves Subtenant or the Leased Sublet Premises or any part thereof and which would constitute a default “default” under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Sublet Premises, subject to any notice and cure periods thereunder; Subtenant such event shall be deemed to be in default constitute a “default” hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default “default” by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In addition to the rights and remedies of Sublandlord set forth in Section 9(a) above, in the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may may, after notice to Subtenant, make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent Rent hereunder, and shall be immediately due and payable from Subtenant to Sublandlord.
Appears in 1 contract
Samples: Sublease (CardioNet, Inc.)
Default by Subtenant. The occurrence of any one or more of the following events (sometimes referred to as an “Event of Default”) shall constitute a default and breach of this Sublease by Subtenant:
(a) Upon the happening of any of the following:
(i) If Subtenant fails to pay any Base Rent or Additional Rent any other amount within five (5) days of when due and payable;
(b) If Subtenant fails to perform any of Subtenant’s nonmonetary obligations under this Sublease for a period of twenty (20) days after written notice of such failure, or if such default is of a nature which cannot be cured within such twenty (20) day period, then Subtenant’s failure to commence to cure such default within such twenty (20) day period and diligently purse the date it same to complete.
(c) If (i) Subtenant makes a general assignment or general arrangement for the benefit of creditors; (ii) a petition of bankruptcy or for reorganization or rearrangement is due;filed by or against Subtenant which is not discharged in 60 days; (iii) a trustee or receiver is appointed to take possession of substantially all of Subtenant’s assets located at the Premises or of Subtenant’s interest in this Sublease which is not discharged in 60 days; or (iv) substantially all of Subtenant’s assets located at the Premises or of Subtenant’s interest in this Sublease is subjected to attachment, execution or other judicial or non-judicial seizure.
(d) If Subtenant fails to comply with any of the terms and provisions of the Master Lease applicable to the Premises or causes or permits any default under the Master Lease. Upon occurrence of an Event of Default by Subtenant, and at any time thereafter, upon notice or demand and without limiting Sublandlord in the exercise of any other right or remedy which Sublandlord may have, Sublandlord shall be entitled to exercise the following rights and remedies:
(i) Sublandlord may terminate Subtenant’s right to possession of the Premises by any lawful means (in which case this Sublease shall not terminate unless Sublandlord gives written notice to Subtenant of its intention to terminate this Sublease), in which event Subtenant shall immediately surrender possession of the Premises to Sublandlord.
(ii) At any time after an Event of default, whether or not Sublandlord shall have terminated this Sublease, Sublandlord shall be entitled to recover from Subtenant, and Subtenant fails shall pay to pay Sublandlord, on demand, for damages for Subtenant’s default, an amount equal to the then present worth of: (A) the aggregate of the Base Rent and any other amount due from charges to be paid by Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in the unexpired portion of the Term assuming this Sublease has not been terminated, less the fair market rental value of the Premises during such period; and such failure continues until the earlier of (1B) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Leaseall other damages suffered by Sublandlord, any Superior Interest or any Ancillary Document, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exerciseinclude, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equitylimitation, all costs of which rights are hereby expressly reserved, any renovating the Premises and all of reletting the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant).
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses same and reasonable attorneys’ fees incurred by fees. All rights, options and remedies of Sublandlord or Landlord contained in connection therewith, together with interest at the Default Rate, this Sublease shall be additional rent hereunderconstrued and held to be cumulative, no one of them shall be exclusive of the other, and Sublandlord shall have the right to purse any one or all of such remedies or any other remedy or relief which may be provided by law or equity whether or not stated in this Sublease.
Appears in 1 contract
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base installment of Sublease Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five within three (53) business days after written notice thereof from Sublandlord to Subtenantthereof;
(iiiii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for twenty (120) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2provided, however, that if the nature of Subtenant’s noncompliance is such that more than twenty (20) any earlier date specified days are reasonably required for its cure, Subtenant shall not be deemed to be in default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may beif Subtenant commences such cure within said twenty (20) day period and thereafter diligently prosecutes such cure to completion); or
(iviii) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default an Event of Default under the Prime Master Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunderSublandlord; Subtenant there shall be deemed to be in default an “Event of Default” hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Master Lease with respect to the Leased Premises in the event upon an Event of a default Default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, and does not cure same within any applicable notice and cure period provided above, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all reasonable amounts so paid and all amounts expended in undertaking such performance, together with all reasonable, actual, out-of-pocket costs, expenses and reasonable expenses, attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, therewith and Interest thereon shall be additional rent Sublease Rent hereunder.
Appears in 1 contract
Default by Subtenant. (a) Upon the happening of any of the following:
If: (i) Subtenant defaults in the payment, when due, of any installment of Rent and Subtenant fails to pay any Base Rent or Additional Rent remedy such default within five (5) days after the date it is such payment was due;
; or (ii) Subtenant fails to pay defaults in fulfilling any other amount due from Subtenant hereunder covenant of this Sublease and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in this Sublease and remedy such failure continues until the earlier of (1) default within ten (10) business days after notice thereof from by Sublandlord to Subtenant specifying the nature of such default (or if such default cannot be completely cured or remedied within such ten (10)-day period and Subtenant shall not have diligently commenced curing such default within a five (5)-day period and shall not thereafter diligently remedy or cure such default within sixty (60) days after notice from Sublandlord); or (2iii) there is any earlier date specified for default under the Prime LeaseDefault by Subtenant, any Superior Interest or any Ancillary Documentthen Sublandlord may, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject in addition to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and all remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all by the terms of the equivalent rights Primes Lease and remedies by notice to Subtenant, cancel this Sublease, and this Sublease and the Term hereunder shall end and expire as fully and completely as if the date of Landlord set forth cancellation were the day herein definitely fixed for the end and expiration of this Sublease and the Term hereof. Subtenant shall then quit and surrender the Premises to Sublandlord, but Subtenant shall remain liable as provided in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)hereunder.
(b) In If: (i) a notice provided for in subsection (a) above shall have been given and the event Term shall expire as aforesaid; or (ii) any execution shall be issued against Subtenant fails or refuses to make any payment of Subtenant's property, whereupon the Premises shall be taken or perform any covenant, obligation occupied or agreement attempted to be performed hereunder taken or occupied by someone other than Subtenant, then and in any of such events, Sublandlord may make such payment may, without notice, re-enter the Premises, and dispossess Subtenant, and the legal representative of Subtenant or undertake other occupant of the Premises, by summary proceedings or otherwise, and remove their effects and hold the Premises as if this Sublease had not been made. Subtenant hereby waives the service of notice of intention to perform such covenantre-enter or to institute legal proceedings to that end, obligation or agreement (but Subtenant shall not have any obligation to Subtenant to do so). In such event, all amounts so paid remain liable for damages as provided in the Prime Lease and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Default by Subtenant. (a) Upon the happening The following shall constitute an "Event of any of the following:
(i) Default" hereunder: Subtenant fails to pay any installment of Base Rent Rental or Additional Rent Subtenant's Taxes Proportionate Share of Taxes or Subtenant's Expenses Proportionate Share of Expenses within five (5) business days after receipt of notice from Sublandlord that the date it same is due;
(ii) Subtenant overdue or fails to pay any other amount due from Subtenant hereunder and such failure continues for five within ten (510) business days after receipt of notice thereof from Sublandlord to Subtenant;
(iii) that the same is overdue; or Subtenant fails to perform or observe any other covenant, obligation material covenant or agreement set forth in this Sublease and such failure continues until the earlier of for thirty (130) ten (10) business days after notice thereof from Sublandlord to Subtenant, provided that if such failure to perform or observe cannot be reasonably be cured within such thirty (30) day period, then, so long as Subtenant commences to so perform or observe within such thirty (230) any earlier date specified for default under day period and diligently prosecutes the Prime Leasesame to completion, any Superior Interest or any Ancillary Document, as the case may be; or
such thirty (iv30) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant day period shall be deemed to extended for such time as may be in default hereunderreasonably necessary. Upon an Event of Default, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant).
(b) thereunder. In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation material covenant or agreement to be performed hereunder by Subtenant, and does not cure same within any applicable notice and cure period provided above, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all reasonable amounts so paid and all amounts expended in undertaking such performance, together with all reasonable costs, expenses and reasonable attorneys’ ' fees incurred by Sublandlord or Landlord in connection therewith, together with therewith and interest thereon at the Default Rate, Interest Rate shall be additional rent hereunder. Anything contained in any provision of this Sublease to the contrary notwithstanding, Subtenant agrees, with respect to the Sublease Premises, to comply with and remedy any default in this Sublease or the Lease which is Subtenant's obligation to cure, within the period allowed to Sublandlord under the Lease, even if such time period is shorter than the period otherwise allowed therein due to the fact that notice of default from Sublandlord to Subtenant is given after the corresponding notice of default from Landlord to Sublandlord, provided that the foregoing time period shall not commence until Subtenant has actually received a copy of any such notice or demand for performance.
Appears in 1 contract
Samples: Sublease Agreement (Federal Home Loan Bank of Chicago)
Default by Subtenant. (a) Each of the following shall be an “Event of Default” by Subtenant and a material breach of the provisions of this Sublease: if Subtenant (i) fails to pay in full any amounts owed under this Sublease on the date due and such failure continues for more than three (3) days after Subtenant’s receipt of a written notice of delinquency from Sublandlord; or (ii) fails to perform any other obligation, term, covenant or condition of this Sublease or of the Master Lease which pursuant to this Sublease is the obligation of the Subtenant, and such failure continues for more than thirty (30) days after receiving notice thereof from Sublandlord, unless the same cannot reasonably be cured within said thirty (30)-day period, in which event Subtenant shall not be deemed in default if Subtenant commences to cure within 30 days and thereafter diligently prosecutes such cure to completion, or (iii) commits any act or omission, or allows to be committed any act or omission, which constitutes an “Event of Default” with respect to any of the terms, obligations, covenants or conditions under the Master Lease applicable to the Tenant under this Sublease. Upon the happening occurrence of any Event of Default by Subtenant, Sublandlord may, at Sublandlord’s option without any further demand or notice, in addition to any other remedy or right, given hereunder or by law, do any of the following:
(i) Subject to all applicable legal due process requirements, re-enter the Sublease Premises, take possession thereof, eject all persons therefrom using all necessary force to do so, and, with or without re-entry, declare this Sublease at an end, in which event Subtenant fails shall, in accordance with California Civil Code Section 1951.2 (or any successor statute, pay Sublandlord a sum of money equal to pay any Base Rent or Additional Rent within five the worth at the time of award of the aggregate of (51) days the unpaid rent, which had been earned at the time of termination, (2) the amount by which (i) the unpaid rent which would have been earned after termination until the time of award by the Court having jurisdiction thereof exceeds (ii) the amount of such rental loss that the Subtenant proves could have been reasonably avoided by Sublandlord, (3) the amount by which (i) the unpaid rent for the balance of the Term after the date it is due;time of the award exceeds (ii) the amount of such rental loss that Subtenant proves could reasonably be avoided, and (4) all other amounts necessary to compensate Sublandlord for all the detriment proximately caused by Subtenant’s default or which in the ordinary course of things would, be likely to result therefrom, including actual or anticipated costs of re-leasing the Sublease Premises. The amounts covered by items (1) and (2) shall be computed by allowing interest at the Interest Rate described in the Master Lease. The worth at the time of award of the amount described, in (3) shall be discounted at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus one percent (1%).
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in this Sublease and such failure continues until the earlier of (1) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord In accordance with California Civil Code Section 1951.4 (or any agentsuccessor statute), Subtenant acknowledges that this Sublease shall continue in effect for so long as Sublandlord does not elect to terminate the Sublease in accordance with item (i) above. representative, officer, director, manager or shareholder Without termination of Subtenant) or the Leased Premises, subject ’s right to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all possession of the equivalent rights and remedies of Sublease Premises Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation shall have the right to terminate collect, by action or otherwise, each installment of Base Rental or other sum as the same becomes due and payable, which rent or other sum shall bear interest at the Interest Rate from the date when due until paid, or enforce, by action or otherwise, any other term or covenant of this Sublease or the Master Lease. Acts of maintenance, preservation or efforts to lease the Sublease Premises, or the appointment of a receiver upon application of Sublandlord to protect Sublandlord’s interest under this Sublease, shall not constitute an election by Sublandlord to terminate Subtenant’s right to possession. In addition to its other rights under this Sublease, Sublandlord has the remedy described in California Code Section 1951.4 (Sublandlord may continue the Sublease in effect after Subtenant’s breach and abandonment and recover possession of Base Rental and other amounts as they become due, if Subtenant has the Leased Premises free of all rights and interests of Subtenantright to sublet or assign, subject only to reasonable limitations).
(b) In Sublandlord, when exercising any right of re-entry set forth above, and subject to all legal due process requirements, may remove all Subtenant’s property, from the event Subtenant fails Sublease Premises; and such property may be stored by Sublandlord in a public warehouse or refuses elsewhere at the sole cost and for the account of Subtenant. If Sublandlord does not elect to make store any payment or perform any covenantall of Subtenant’s property left in the Sublease Premises, obligation or agreement Sublandlord may consider such property to be performed hereunder abandoned by Subtenant, and Sublandlord may make thereupon dispose of such payment or undertake property in any manner deemed appropriate by Sublandlord. Any proceeds realized by Sublandlord on the disposal of any such property shall be applied first to offset all expenses of storage and sale, then credited against Subtenant’s outstanding obligations to Sublandlord under this Sublease (and any balance remaining after satisfaction of all obligations of Subtenant under this Sublease shall be delivered to Subtenant). Notwithstanding any reletting by Sublandlord without termination of this Sublease allowed above and by law, Sublandlord may at any time thereafter elect to terminate this Sublease for any such previous breach. Sublandlord’s right of entry shall include the right to remodel the Sublease Premises and re-let the Sublease Premises. All costs incurred in such entry and re-letting shall be paid by Subtenant.
(c) If an Event of Default occurs, Sublandlord may perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so)condition at its sole option. In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees All costs incurred by Sublandlord in so performing shall immediately be reimbursed to Sublandlord by Subtenant.
(d) The rights and remedies of Sublandlord set forth herein are not exclusive, and Sublandlord may exercise any other right or Landlord remedy available to it under this Sublease, the Master Lease, at law, or in connection therewith, together with interest at the Default Rate, shall be additional rent hereunderequity.
Appears in 1 contract
Samples: Sublease Agreement (Responsys Inc)
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for fifteen (115) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may beSubtenant; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunderpremises covered by the Prime Lease; Subtenant shall be deemed to be in default detach hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ ' fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Planetrx Com)
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iiiii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for fifteen (115) ten (10) business days after notice thereof from Sublandlord to Subtenant, except that Subtenant or shall not be in default if said failure cannot be cured within fifteen (215) any earlier days after the date specified for default under of such notice provided that Subtenant commences to cure within fifteen (15) days after the Prime Leasedate of such notice, any Superior Interest or any Ancillary Document, as thereafter diligently pursues curing of the case may befailure and completes such cure within thirty (30) days after the date of the initial notice from Sublandlord; or
(iviii) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunderpremises covered by the Prime Lease; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of limiting any other rights and or remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts or expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ ' fees incurred by Sublandlord or Landlord in connection therewith, together with therewith and interest on such amounts from the date when so paid or expended at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Quality Systems Inc)
Default by Subtenant. (a) Upon the happening of any of the following:following (each, an “Event of Default”):
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after written notice to Subtenant; provided, however, that Sublandlord shall only be required to provide written notice of such failure to pay Base Rent when due two (2) times in any eighteen (18) month period and on the date third time in such eighteen (18) month period that an installment of Base Rent remains unpaid when due, it is dueshall be an Event of Default without notice;
(ii) Subtenant fails to pay any other amount when due from Subtenant hereunder and such failure continues for five (5) business days after written notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for fifteen (115) ten (10) business days after written notice thereof from Sublandlord to Subtenant; however, if such failure is not capable of being cured within such fifteen (15) day period, then provided that Subtenant or commences curative action within such fifteen (215) any earlier date specified day period and proceeds diligently and in good faith thereafter to cure such failure, such cure period shall be extended for default under the Prime Leaseperiod necessary to complete such cure, any Superior Interest or any Ancillary Document, as the case may bebut not to exceed sixty (60) days; or
(iv) any other event occurs which involves Subtenant or the Leased Subleased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Master Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercisemay, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, equity and exercise any and all of the equivalent other rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest on all of the foregoing at the Default Raterate specified in Section 4(d) above as applicable to late payments of rent, shall be due as additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Capitalsource Inc)
Default by Subtenant. (a) Upon Subtenant shall do nothing that will subject the happening Main Lease to termination by Lessor under the provisions of the Main Lease. If Subtenant is in default under the provisions of the Main Lease, Tenant shall be entitled, but not obligated, to cure such default on behalf of and for the account of Subtenant, in which case all damages and expenses, including without limitation reasonable attorneys' fees, incurred by Tenant in connection with such cure, together with interest thereon until paid at the maximum rate permitted under applicable law, shall be paid by Subtenant to Tenant, as additional rent hereunder, immediately upon Tenant's demand therefor. By so curing any such default of Subtenant on behalf of and for the account of Subtenant, Tenant shall not be deemed to have waived any of its rights or released Subtenant from any of its obligations under this Sublease. Tenant shall, however, also be entitled to cure such default on its own account to preserve its interest in and under the following:
(i) Subtenant fails to pay any Base Rent or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder Main Lease, and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in may terminate this Sublease by reason of such default of Subtenant if Subtenant does not pay to Tenant, as additional rent hereunder, all damages and expenses, including without limitation reasonable attorneys' fees, incurred by Tenant in connection with such failure continues cure, together with interest thereon until paid at the earlier of (1) maximum rate permitted under applicable law, within ten (10) business days after notice thereof from Sublandlord demand therefor. In the event that the Main Lease is terminated by Lessor by reason of Subtenant's default, Subtenant shall indemnify Tenant against, and hold Tenant harmless from, all damages and expenses that Tenant may become liable to Subtenant or (2) any earlier date specified for default pay under the Prime LeaseMain Lease resulting from such default, any Superior Interest or any Ancillary Documentplus all other expenses relating thereto, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation reasonable attorneys' fees and the right to terminate this Sublease and recover possession full expense (including the value of the Leased Premises free of all rights and interests of Subtenant).
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation or agreement work required to be performed hereunder done by SubtenantTenant's personnel) of relocating Tenant to new leased premises as a replacement for the Tenant's Premises, Sublandlord may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, which new leased premises shall be additional rent hereunderat least equivalent to the Tenant's Premises in terms of size, quality of location, and quality of construction.
Appears in 1 contract
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent or Additional Minimum Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until for fifteen (15) days except that if such default is not capable of being cured within such fifteen (15) day period, then so long as Subtenant continues to diligently attempt to cure such default, the earlier fifteen (15) day period shall be extended to sixty (60) days or such lesser period as is reasonably necessary to complete the cure of (1) ten (10) business days such default after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may beSubtenant; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased PremisesPremises and such default continues for fifteen (15) days after notice thereof from Sublandlord to Subtenant except that if such default is not capable of being cured within such fifteen (15) day period, subject then so long as Subtenant continues to any notice and diligently attempt to cure periods thereundersuch default, the fifteen (15) day period shall be extended to sixty (60) days or such lesser period as is reasonably necessary to complete the cure of such default; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Nuvasive Inc)
Default by Subtenant. (a) Upon the happening of any of the following:
(i) Subtenant fails to pay any Base Rent Rent, Additional Rent, or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder charge when due, and such failure continues for five (5) business days after written notice thereof from Sublandlord to SubtenantSubtenant (after two (2) such notices in any calendar year, failure to pay Base Rent shall be a default with no notice required);
(ii) Subtenant abandons the Premises and fails to pay Base Rent;
(iii) Subtenant fails to promptly and fully perform or observe any other covenant, obligation covenant or agreement set forth in this Sublease and such failure continues until the earlier of for twenty (120) ten (10) business days after written notice thereof from Sublandlord to Subtenant; provided, however, if such failure is not susceptible of being cure within twenty (20) days, there shall be no default so long as Subtenant or (2) any earlier date specified for default under commences the Prime Lease, any Superior Interest or any Ancillary Document, as cure of such failure within said 20-day period and thereafter diligently prosecutes the case may besame to completion; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) or the Leased Premises, subject to any notice and cure periods thereunderpremises covered by the Prime Lease; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant)thereunder.
(b) In the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereunder.
Appears in 1 contract
Samples: Sublease (Bio Key International Inc)
Default by Subtenant. (a) Upon the happening of In addition to any of the following:
(i) Subtenant fails to pay any Base Rent events or Additional Rent within five (5) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenant, obligation or agreement set forth in this Sublease and such failure continues until the earlier of (1) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for occurrences which constitute a default under the terms of the Prime LeaseLease (which have been incorporated into this Sublease by reference), any Superior Interest or any Ancillary Document, as the case may be; or
(iv) if any other event occurs (after expiration of any applicable period of notice and cure) which involves Subtenant or the Leased Subleased Premises or any part thereof and the Shared Space which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder of Subtenant) Tenant or the Leased Premises, subject to any notice and cure periods thereunder; Subtenant such event shall be deemed to be in default constitute an “Event of Default” hereunder, and Sublandlord Tenant may exercise, without any further demand or notice, and without limitation of any other rights and remedies available to it hereunder or at law or in equity, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant).
(b) Tenant thereunder. In addition, in the event Subtenant fails or refuses to make any payment or perform any covenant, obligation covenant or agreement to be performed hereunder by Subtenant, Sublandlord such failure or refusal shall constitute an “Event of Default” hereunder, and Tenant may make such payment or undertake to perform such covenant, obligation covenant or agreement (but shall not have any obligation to Subtenant to do so). In such event, all amounts so paid and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred by Sublandlord or Landlord Tenant in connection therewith, together with interest at the Default Rateshall constitute Sublease Charges hereunder, and shall be additional rent hereunderimmediately due and payable from Subtenant to Tenant.
(b) Tenant and/or its subsidiary, as the case may be, and Subtenant are parties to the following agreements (each of which may be referred to in this Sublease as a “Transaction Agreement” and collectively may be referred to as the “Transaction Agreements”): (i) the Asset Purchase Agreement between Tenant and Subtenant (the “Asset Purchase Agreement”) and the following agreements as defined in the Asset Purchase Agreement: (ii) the Verenium License Agreement, (iii) the BP License Agreement, (iv) the Xxxxx Sublicense Agreement, (v) the Joint Intellectual Property Agreement, and (vi) the Verenium Non-Compete Agreement. In the event of a default by Subtenant under any of the Transaction Agreements (after expiration of any applicable period of notice and cure), Tenant shall have the right to terminate this Sublease by delivering written notice thereof to Subtenant, in which event Subtenant shall have ninety (90) days following receipt of Tenant’s notice of termination to vacate the Subleased Premises.
Appears in 1 contract
Samples: Sublease Agreement (Verenium Corp)
Default by Subtenant. (a) Upon the happening of any of the following:
The following shall constitute a default by Subtenant hereunder: (i) any failure of Subtenant fails to pay any Base Fixed Rent, Additional Rent or Additional Rent other charges payable hereunder within five (5) Business Days after notice of such failure in payment shall have been given to Subtenant; or (ii) any failure of Subtenant to perform any other of the terms, covenants or conditions of this Sublease (including those incorporated herein by reference and except those otherwise identified in this Section 20) to be observed or performed by Subtenant for more than twenty (20) days after written notice of such default shall have been served upon Subtenant, or any sooner time otherwise specifically set forth in any provision of this Sublease (including, without limitation, any provision incorporated by reference, as same may be modified by Article 3 hereof), or, if such default cannot reasonably be cured within such period of twenty (20) days, if Subtenant shall not have commenced the cure thereof within such period of time and shall not be proceeding with due diligence and good faith to cure same (so long as such default is cured before the event resulting in such default causes a default by the tenant under the Xxxxxxxxx); or (iii) Intentionally Omitted; or (iv) if by operation of law or otherwise, any interest of Subtenant in or to the Subleased Premises or in or to this Sublease shall pass to another and not revert to Subtenant within twenty (20) days, except for transfers of such interests expressly permitted in Section 16 (a) hereunder; or (v) if Subtenant shall make an assignment of all or a portion of its property for the benefit of creditors, or file a petition in bankruptcy or insolvency or for reorganization or arrangement or for the appointment of a receiver of all or a portion of its property; or if Subtenant shall have filed against it a petition in bankruptcy or insolvency or for reorganization or arrangement or for the appointment of a receiver of all or a portion of its property and such petition shall not be vacated or withdrawn within sixty (60) days after the date it is due;
(ii) Subtenant fails to pay any other amount due from Subtenant hereunder and such failure continues of filing thereof; or if a permanent receiver shall be appointed for five (5) business days after notice thereof from Sublandlord to Subtenant;
(iii) Subtenant fails to perform or observe any other covenantall or, obligation or agreement set forth in this Sublease and such failure continues until a portion of the earlier of (1) ten (10) business days after notice thereof from Sublandlord to Subtenant or (2) any earlier date specified for default under the Prime Lease, any Superior Interest or any Ancillary Document, as the case may be; or
(iv) any other event occurs which involves Subtenant or the Leased Premises or any part thereof and which would constitute a default under the Prime Lease if it involved Sublandlord (or any agent. representative, officer, director, manager or shareholder property of Subtenant) or the Leased Premises, subject to . In case of any notice and cure periods thereunder; Subtenant shall be deemed to be in default hereunder, and Sublandlord may exercisethen, without any further demand or notice, and without limitation of any in addition to all other rights and remedies (including those incorporated herein by reference) available to it hereunder or at law or in equitySublandlord, all of which rights are hereby expressly reserved, any and all of the equivalent rights and remedies of Landlord set forth in the Prime Lease with respect to the Leased Premises in the event of a default by Sublandlord thereunder (including without limitation shall have the right to terminate this Sublease and recover possession of the Leased Premises free of all rights and interests of Subtenant).
on three (b3) In the event Subtenant fails or refuses days' prior written notice to make any payment or perform any covenant, obligation or agreement to be performed hereunder by Subtenant, upon which Sublandlord shall have the immediate right of re-entry and may make such payment or undertake to perform such covenant, obligation or agreement (but shall not have any obligation to Subtenant to do so). In such event, remove all amounts so paid persons and all amounts expended in undertaking such performance, together with all costs, expenses and reasonable attorneys’ fees incurred property from the Subleased Premises by Sublandlord or Landlord in connection therewith, together with interest at the Default Rate, shall be additional rent hereundersummary proceedings.
Appears in 1 contract
Samples: Sublease (Dial Global, Inc. /De/)
