Common use of Intent of Parties Clause in Contracts

Intent of Parties. Except as otherwise provided herein, Tenant covenants and agrees that if (i) it shall at any time fail to pay any costs or expenses, or fail to take out, pay for, maintain or deliver any of the insurance policies, or fail to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expired, then Landlord may, but shall not be obligated to, and without notice to or demand upon Tenant and without waiving or releasing Tenant from any obligations of Tenant contained in this Lease, pay any such cost or expense, effect any such insurance coverage and pay premiums therefore, and may make any other payment or perform any other act on the part of Tenant to be made and performed as provided in this Lease, in such manner and to such extent as Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys’ fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by Landlord, together with interest thereon at the rate of six percent (6.00%) annually from the date of making of such expenditure by Landlord, shall be deemed Additional Rent hereunder, and shall be payable to Landlord within thirty (30) days of written demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and Landlord shall have the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of an Event of Default by Tenant in the payment of the Base Rent or Additional rent due under this Lease.

Appears in 2 contracts

Samples: Commercial Lease (Entellus Medical Inc), Commercial Lease (Entellus Medical Inc)

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Intent of Parties. 35. Except as otherwise provided herein, the Tenant covenants and agrees that if (i) it shall at any time fail to pay any costs cost or expensesexpense required to be paid by Tenant hereunder, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease provided, then the Landlord may, but shall not be obligated toso to do, and without notice to or demand upon the Tenant and without waiving or releasing the Tenant from any obligations of the Tenant contained in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums thereforetherefor, and may make any other payment or perform any other act on the part of the Tenant to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as the Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys’ fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by the Landlord, together with interest thereon at the rate of six ten percent (6.0010%) annually per annum from the date of making of such expenditure expenditure, by Landlord, shall be deemed Additional Rent additional rent hereunder, and shall be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and the Landlord shall have the same rights and remedies in the event of the non-payment nonpayment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 2 contracts

Samples: Lease (Wireless Ronin Technologies Inc), Lease (Wireless Ronin Technologies Inc)

Intent of Parties. Except as otherwise provided herein, Tenant covenants and agrees that if (i) it shall at any time fail to pay any costs or expenses, or fail to take out, pay for, maintain or deliver any of the insurance policies, or fail to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease Agreement, then Landlord may, but shall not be obligated to, and without notice to or demand upon Tenant and without waiving or releasing Tenant from any obligations of Tenant contained in this LeaseLease Agreement, pay any such cost or expense, effect any such insurance coverage and pay premiums therefore, and may make any other payment or perform any other act on the part of Tenant to be made and performed as provided in this LeaseLease Agreement, in such manner and to such extent as Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys’ fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by Landlord, together with interest thereon at the rate of six twelve percent (6.0012%) annually per annum from the date of making of such expenditure by Landlord, shall be deemed Additional Rent hereunder, and shall be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and Landlord shall have the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due under this LeaseLease Agreement.

Appears in 2 contracts

Samples: Commercial Lease (Celcuity LLC), Commercial Lease (Celcuity LLC)

Intent of Parties. 34. Except as otherwise provided herein, Tenant covenants and agrees that if (i) it shall at any time fail to pay any costs or expensesexpenses which this Lease requires Tenant to pay, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease provided, then the Landlord may, but shall not be obligated to, and without notice to or demand upon Tenant (other than the notice provided for under this Lease) and without waiving or releasing Tenant from any obligations of Tenant contained in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums thereforetherefor, and may make any other payment or perform any other act on the part of Tenant to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as Landlord may reasonably deem desirable, ; and in exercising any such right, to Landlord may also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys’ attorney's fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by Landlord, together with interest thereon at the rate of six one and one-half percent (6.001.5%) annually per month from the date of making of such expenditure expenditures by Landlord, shall be deemed Additional Rent hereunder, additional rent hereunder and shall be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid aforesaid, and Landlord shall have the same rights and remedies in the event of the non-payment nonpayment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 2 contracts

Samples: Possis Medical Inc, Possis Medical Inc

Intent of Parties. Except as otherwise provided herein, the Tenant covenants and agrees that if (i) it shall at any time fail fails to pay any costs cost or expensesexpense required to be paid by it, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail fails to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease provided, then the Landlord may, but shall will not be obligated toso to do, and without notice to or demand upon the Tenant and without waiving or releasing the Tenant from any obligations of the Tenant contained in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums therefore, and may make any other payment or perform any other act on the part of the Tenant to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as the Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys’ attorney's fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by the Landlord, together with interest thereon at the rate of six fourteen percent (6.0014%) annually per annum from the date Landlord give written and documented notice of making of such expenditure by Landlordexpenditures, shall will be deemed Additional Rent hereunder, and shall will be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and the Landlord shall will have the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 1 contract

Samples: Commercial Lease (Aetrium Inc)

Intent of Parties. Except as otherwise provided herein, the Tenant covenants and agrees that if (i) it shall at any time fail fails to pay any costs cost or expensesexpense required to be paid by it, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail fails to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease provided, then the Landlord may, but shall will not be obligated toso to do, and without notice to or demand upon the Tenant and without waiving or releasing the Tenant from any obligations of the Tenant contained in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums therefore, and may make any other payment or perform any other act on the part of the Tenant to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as the Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys’ attorney’s fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by the Landlord, together with interest thereon at the rate of six fourteen percent (6.0014%) annually per annum from the date of making of such expenditure expenditures, by Landlord, shall will be deemed Additional Rent additional rent hereunder, and shall will be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and the Landlord shall will have the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 1 contract

Samples: Commercial Lease (Aetrium Inc)

Intent of Parties. Except as otherwise provided herein, Tenant covenants the parties ----------------- covenant and agrees agree that if (i) it a party, within any grace period allowed herein, shall at any time fail to pay any costs cost or expensesexpense, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail to make any other payment or perform any other act on its part to be made or performed as required in this LeaseLease provided, then the other party may, after ten (10) days prior written notice, unless such delay may result in injury to person or property, and (ii) the applicable cure period under Article 17 has expired, then Landlord mayupon such notice as is practicable, but shall not be obligated to, and without notice to or demand upon Tenant and without waiving or releasing Tenant the other party from any obligations of Tenant contained in on its part to be performed under this Lease, pay any such cost or expense, effect any such insurance coverage and pay premiums therefore, therefore and may make any other such payment or perform any other such act on the part of Tenant to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as Landlord the curing party may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys’ attorney's fees. All sums so paid by Landlord the curing party and all necessary and incidental costs and expenses in connection with the performance of any such act by Landlordthe curing party, together with interest thereon computed at an annual rate equal to the reference rate or prime rate quoted by the Wall Street Journal, adjusted weekly as of six the first business day of each week with respect to which interest is being computed until paid plus one and one-half percent (6.001 1/2%) annually from the date of making of such expenditure by Landlordexpenditure, shall be deemed Additional Rent hereunder, and shall be payable to Landlord within thirty (30) days of written the curing party on demand. Tenant The defaulting party covenants to pay any such sum or sums with interest as aforesaid and and, in the event of a cure by Landlord, the Landlord shall have the same rights and remedies in the event of the non-non- payment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 1 contract

Samples: Lease (Spectrum Control Inc)

Intent of Parties. Except as otherwise provided herein, Tenant covenants and agrees that if (i) it shall at any time fail to pay any costs such cost or expenses, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease provided within a reasonable time after receipt of written notice from Tenant, then Landlord may, but shall not be obligated toso to do, and without notice to or demand upon Tenant and without waiving or releasing Tenant from any obligations of Tenant contained in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums thereforetherefor, and may make any other payment or perform any other act on the part of Tenant to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys’ fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by Landlord, together with interest thereon at the rate of six twelve percent (6.0012%) annually per annum from the date of making of such expenditure expenditure, by Landlord, shall be deemed Additional Rent additional rent hereunder, and shall be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and Landlord shall have the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 1 contract

Samples: Commercial Lease (Ciprico Inc)

Intent of Parties. 35. Except as otherwise provided herein, the Tenant covenants and agrees that if (i) it shall at any time fail to pay any costs such cost or expensesexpense, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease provided, then the Landlord may, but shall not be obligated toso to do, and without notice to or demand upon the Tenant and without waiving or releasing the Tenant from any obligations of the Tenant contained in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums thereforetherefor, and may make any other payment or perform any other act on the part of the Tenant to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as the Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys' fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by the Landlord, together with interest thereon at the rate of six TWELVE percent (6.0012%) annually per annum from the date of making of such expenditure expenditure, by Landlord, shall be deemed Additional Rent hereunder, hereunder and shall be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and the Landlord shall have the same rights and remedies in the event of the non-payment nonpayment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 1 contract

Samples: Lectec Corp /Mn/

Intent of Parties. Except as otherwise provided herein, the Tenant covenants and agrees that if (i) it shall at any time fail to pay any costs cost or expensesexpense required to be paid by Tenant hereunder, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail to make any other payment or perform any other act on its part to be made or performed as required in this LeaseLease provided, and (ii) then, after notice required under Section 17, the applicable cure period under Article 17 has expired, then Landlord may, but shall not be obligated toso to do, and without additional notice to or demand upon the Tenant and without waiving or releasing the Tenant from any obligations of the Tenant contained in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums thereforetherefor, and may make any other payment or perform any other act on the part of the Tenant to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as the Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys' fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by the Landlord, together with interest thereon at the rate of six percent (6.00%) annually Default Rate from the date of making of such expenditure expenditure, by Landlord, shall be deemed Additional Rent additional rent hereunder, and shall be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and the Landlord shall have the same rights and remedies in the event of the non-payment nonpayment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 1 contract

Samples: Lease (Mgi Pharma Inc)

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Intent of Parties. Except as otherwise provided herein, Tenant covenants and agrees that if (i) it shall at any time fail to pay any costs cost or expensesexpense required to be paid by it, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail fails to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease provided, then Landlord mayLandlord, may after giving Tenant written notice and reasonable opportunity to cure, but shall not be obligated toso to do, and without notice to or demand upon Tenant and without waiving or releasing Tenant from any obligations of Tenant contained in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums thereforetherefor, and may make any other payment or perform any other act on the part of Tenant to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental reasonable costs and expenses, employ counsel and incur and pay reasonable attorneys’ fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by Landlord, together with interest thereon at the rate of six ten percent (6.0010%) annually per annum from the date of making of such expenditure expenditures, by Landlord, shall be deemed Additional Rent hereunder, and shall be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and Landlord shall have the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 1 contract

Samples: Commercial Lease (EnteroMedics Inc)

Intent of Parties. 42. Except as otherwise provided herein, Tenant the Lessee covenants and agrees that if (i) it shall at any time fail to pay any costs cost or expensesexpense required to be paid by Lessee pursuant to this Lease, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease provided, then Landlord the Lessor may, but shall not be obligated toso to do, and without notice to or demand upon Tenant the Lessee and without waiving or releasing Tenant the Lessee from any obligations of Tenant contained the Lessee in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums thereforetherefor, and may make any other payment or perform any other act on the part of Tenant the Lessee to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as Landlord the Lessor may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys' fees. All sums so paid by Landlord Lessor and all necessary and incidental costs and expenses in connection with the performance of any such act by Landlord, together with Lessor shall accrue interest thereon at the lesser of the rate of six twelve percent (6.0012%) annually from per annum, or the date of making of such expenditure highest rate then permitted by Landlordlaw. Such expenditures by Lessor, shall be deemed Additional Rent hereunder, and shall be payable to Landlord within thirty (30) days of written for Lessor on demand. Tenant Lessee covenants to pay any such sum or sums with interest as aforesaid and Landlord the Lessor shall have the same rights and remedies in the event of the non-payment thereof by Tenant Lessee as in the case of an Event of Default default by Tenant Lessee in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Spectrascience Inc)

Intent of Parties. Except as otherwise provided herein, the Tenant covenants and agrees that if (i) it shall at any time fail to pay any costs cost or expensesexpense required to be paid by it, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail fails to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease provided, then the Landlord may, but shall not be obligated toso to do, and without notice to or demand upon the Tenant and without waiving or releasing the Tenant from any obligations of the Tenant contained in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums thereforetherefor, and may make any other payment or perform any other act on the part of the Tenant to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as the Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys’ attorney’s fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by the Landlord, together with interest thereon at the rate of six fourteen percent (6.0014%) annually per annum from the date of making of such expenditure expenditures, by Landlord, shall be deemed Additional Rent additional rent hereunder, and shall be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and the Landlord shall have the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 1 contract

Samples: Commercial Lease (Restore Medical, Inc.)

Intent of Parties. Except as otherwise provided herein, the Tenant covenants and agrees that if (i) it shall at any time fail to pay any costs cost or expensesexpense required to be paid by it, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail fails to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease provided, then the Landlord may, but shall not be obligated toso to do, and without notice to or demand upon the Tenant and without waiving or releasing the Tenant from any obligations of the Tenant contained in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums thereforetherefor, and may make any other payment or perform any other act on the part of the Tenant to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as the Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys’ attorney's fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by the Landlord, together with interest thereon at the rate of six fourteen percent (6.0014%) annually per annum from the date of making of such expenditure expenditures, by Landlord, shall be deemed Additional Rent hereunder, and shall be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and the Landlord shall have the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 1 contract

Samples: Commercial Lease (BioDrain Medical, Inc.)

Intent of Parties. Except as otherwise provided herein, Tenant covenants and agrees that if (i) it shall at any time fail to pay any costs or expenses, or fail to take out, pay for, maintain or deliver any of the insurance policies, or fail to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expired, then Landlord may, but shall not be obligated to, and without notice to or demand upon Tenant and without waiving or releasing Tenant from any obligations of Tenant contained in this Lease, pay any such cost or expense, effect any such insurance coverage and pay premiums therefore, and may make any other payment or perform any other act on the part of Tenant to be made and performed as provided in this Lease, in such manner and to such extent as Landlord may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys' fees. All sums so paid by Landlord and all necessary and incidental costs and expenses in connection with the performance of any such act by Landlord, together with interest thereon at the rate of six twelve percent (6.0012%) annually per annum from the date of making of such expenditure by Landlord, shall be deemed Additional Rent hereunder, and shall be payable to Landlord within thirty (30) days of written on demand. Tenant covenants to pay any such sum or sums with interest as aforesaid and Landlord shall have the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of an Event of Default default by Tenant in the payment of the Base Rent or Additional rent Rent due under this Lease.

Appears in 1 contract

Samples: Commercial Lease (Celcuity Inc.)

Intent of Parties. 35. Except as otherwise provided herein, Tenant Lessee covenants and agrees that if (i) it shall at any time fail to pay any costs such cost or expenses, or fail to take out, pay for, maintain or deliver any of the insurance policiespolicies above required, or fail to make any other payment or perform any other act on its part to be made or performed as required in this Lease, and (ii) the applicable cure period under Article 17 has expiredLease provided, then Landlord Lessor may, but shall not be obligated toso to do, and without notice to or demand upon Tenant Lessee and without waiving or releasing Tenant Lessee from any obligations of Tenant contained Lessee in this LeaseLease contained, pay any such cost or expense, effect any such insurance coverage and pay premiums thereforetherefor, and may make any other payment or perform any other act on the part of Tenant Lessee to be made and performed as provided in this LeaseLease provided, in such manner and to such extent as Landlord Lessor may reasonably deem desirable, and in exercising any such right, to also pay all necessary and incidental costs and expenses, employ counsel and incur and pay reasonable attorneys' fees. All sums so paid by Landlord Lessor and all necessary and incidental costs and expenses in connection with the performance of any such act by LandlordLessor, together with interest thereon at the rate of six ten percent (6.0010%) annually per annum from the date of making of such expenditure expenditure, by LandlordLessor, shall be deemed Additional Rent additional rent hereunder, and shall be payable to Landlord within thirty (30) days of written Lessor on demand. Tenant Lessee covenants to pay any such sum or sums with interest as aforesaid and Landlord Lessor shall have the same rights and remedies in the event of the non-payment thereof by Tenant Lessee as in the case of an Event of Default default by Tenant Lessee in the payment of the Base Rent or Additional rent due payable under this Lease.

Appears in 1 contract

Samples: Office (Intranet Solutions Inc)

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