Common use of Landlord Default Clause in Contracts

Landlord Default. The following events shall be an event of default hereunder by Landlord and shall constitute a breach of this Lease (individually a “Landlord Default”): if Landlord shall violate or fail to comply with or perform any other term, provision, covenant, agreement or condition to be performed or observed by Landlord under this Lease, and such violation or failure shall continue for a period of thirty (30) days after written notice thereof from Tenant; provided, however, if such violation cannot be cured within the thirty (30) day cure period and Landlord commences to cure said violation within the thirty (30) day cure period and diligently pursues the cure of the violation to completion then Landlord shall have such time as is reasonably necessary to cure the violation. In the event of a Landlord Default hereunder Tenant shall have the right to cure such default on behalf of Landlord and bring suit against Landlord, and upon obtaining a final, non-appealable judgment, recover against Xxxxxxxx’s interest in the Demised Premises. In no event shall Tenant have the right to terminate in whole or in part this Lease as a result of any Landlord Default nor shall have Tenant have any right to offset or withhold Rent. Further notwithstanding the foregoing or any other provisions of this Lease, in no event shall Tenant be entitled to recover punitive, incidental, consequential, indirect, special or exemplary damages against Landlord for a Landlord Xxxxxxx.

Appears in 1 contract

Samples: Unitary Master Lease Agreement (RumbleOn, Inc.)

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Landlord Default. The following events Landlord shall be an event in default of default hereunder by its obligations under this Lease if Landlord and shall constitute a breach fail to observe or perform any term, covenant or condition of this Lease (individually a “Landlord Default”): if Landlord shall violate or fail to comply with or perform any other term, provision, covenant, agreement or condition on its part to be performed or observed by Landlord under this Leaseperformed, and such violation or failure shall continue for a period of thirty (30) days after written notice Notice thereof from Tenant (or such shorter time as may be necessary in order to cure or correct any condition, the presence of which substantially or materially interferes with Tenant; provided’s conduct of its usual business for the Permitted Use(s) or to protect the health or welfare of any resident of the Property or to ensure the ongoing compliance of the Property with applicable law), however, if unless such violation failure cannot be cured with due diligence within the a period of thirty (30) day cure period and Landlord commences days (or the above-described shorter time period), in which case such failure shall not be deemed to cure said violation continue if Landlord, within the such thirty (30) day cure period and diligently pursues days (or the cure of the violation to completion then Landlord shall have such above-described shorter time as is reasonably necessary period), promptly commences its attempt to cure the violationfailure and diligently attempts to complete the curing thereof. In The time within which Landlord shall be obligated to cure any such failure shall also be subject to extension of time due to the event occurrence of a any Unavoidable Delay. If Landlord Default hereunder fails to commence such cure as provided herein, Tenant may cure such default, and so long as Tenant continues to pay Rent, Tenant shall have the right (subject to Section 6.1), as Tenant’s sole remedy (except as otherwise provided in this Section 18.1), by separate and independent action to pursue any claim it may have against Landlord for monetary damages caused by Landlord’s failure to cure such default on behalf of Landlord and bring suit against Landlord, and upon obtaining a final, non-appealable judgment, recover against Xxxxxxxx’s interest in the Demised Premises. In no event shall Tenant have the right to terminate in whole or in part this Lease as a result of any Landlord Default nor shall have Tenant have any right to offset or withhold Rent. Further notwithstanding the foregoing or any other provisions of this Lease, in no event shall Tenant be entitled to recover punitive, incidental, consequential, indirect, special or exemplary damages against Landlord for a Landlord Xxxxxxxdefault.

Appears in 1 contract

Samples: Master Lease (Newcastle Investment Corp)

Landlord Default. 1. The occurrence of any one or more of the following events shall be an event of constitute a default hereunder by Landlord and shall constitute a breach of this Lease (individually a “Landlord Default”): ), which if not cured within any applicable time permitted for cure below, shall constitute a “Landlord Event of Default” and shall violate give rise to Tenant’s remedies set forth in Section 23(B) hereof: (i) failure by Landlord to make when due any payment to Tenant, unless such failure is cured within ten (10) days after Tenant shall have delivered to Landlord a notice specifying such Landlord Default; or fail (ii) failure by Landlord to comply with observe or perform any other term, provision, covenant, agreement of the terms or condition conditions of this Lease to be observed or performed or observed by Landlord under this Leaseother than the payment of money, and unless such violation or failure shall continue for a period of is cured within thirty (30) days after written Tenant shall have delivered to Landlord a notice thereof from Tenant; provided, howeverspecifying such failure (provided that, if the nature of Landlord’s failure is such violation canthat more time is reasonably required to cure same or Landlord is delayed in or prevented from effecting such cure due to Unavoidable Delay, a Landlord Event of Default shall not be cured deemed to have occurred if Landlord commences such cure within the said thirty (30) day cure period and Landlord commences to cure said violation within the thirty (30) day cure period and thereafter diligently pursues the such cure of the violation to completion then Landlord shall have and in fact effects said cure within such time as is shall reasonably necessary to be necessary). 2. The notice and cure the violation. In the event of a Landlord Default hereunder Tenant shall have the right to cure such default on behalf of Landlord and bring suit against Landlordperiods provided herein are in lieu of, and upon obtaining a finalnot in addition to, non-appealable judgment, recover against Xxxxxxxx’s interest in any notice and cure periods provided by Law. To the Demised Premises. In no event shall Tenant have the right to terminate in whole or in part this Lease as a result extent that any of any Landlord Default nor shall have Tenant have any right to offset or withhold Rent. Further notwithstanding the foregoing or notice periods provided for in this Article are greater than the notice periods required under any other provisions of this LeaseLaw, in no event such greater notice periods provided for herein shall Tenant substitute for such shorter notice periods required under such Law, and, to the extent not prohibited by such Law, any notices given pursuant to the terms hereof shall be entitled to recover punitive, incidental, consequential, indirect, special or exemplary damages against Landlord for a Landlord Xxxxxxxdeemed the notice required by any such Law.

Appears in 1 contract

Samples: Office Lease (Vivid Seats Inc.)

Landlord Default. The following events Landlord shall not be in default in the performance of any obligation required to be performed by Landlord under this Lease unless Landlord has failed to perform such obligation within thirty (30) days after the receipt of written notice to Landlord (and any mortgagee of whom Tenant has been notified) from Tenant specifying in detail Landlord's failure to perform; provided however, that if the nature of Landlord's obligation is such that more than thirty (30) days are required for its performance, then Landlord shall not be deemed in default if it commences such performance within such thirty (30) day period and thereafter diligently pursues the same to completion. Tenant agrees that, prior to commencing a legal action against Landlord for failure to cure such default as provided in the preceding sentence, any mortgagee which received notice of such default shall have an event of additional thirty (30) days to cure such default hereunder (unless such cure would take longer and such mortgagee has commenced such cure within said thirty (30) day period). Upon any such uncured default by Landlord and any mortgagee which received notice of such default, Tenant may exercise any of its rights provided in law or at equity; provided, however: (a) Tenant shall constitute a breach have no right to offset or xxxxx rent in the event of this Lease (individually a “Landlord Default”): if Landlord shall violate or fail to comply with or perform any other term, provision, covenant, agreement or condition to be performed or observed default by Landlord under this Lease, and such violation or failure shall continue for a period of thirty except to the extent offset rights are specifically provided to Tenant in this Lease; (30b) days after written notice thereof from Tenant; provided, however, if such violation cannot be cured within the thirty (30) day cure period and Landlord commences to cure said violation within the thirty (30) day cure period and diligently pursues the cure of the violation to completion then Landlord shall have such time as is reasonably necessary to cure the violation. In the event of a Landlord Default hereunder Tenant shall have the right to cure such default on behalf of Landlord and bring suit against Landlord, and upon obtaining a final, non-appealable judgment, recover against Xxxxxxxx’s interest in the Demised Premises. In no event shall Tenant have the right to terminate this Lease; (c) Tenant's rights and remedies hereunder shall be limited to the extent (i) Tenant has expressly waived in whole or in part this Lease as a result any of such rights or remedies and/or (ii) this Lease otherwise expressly limits Tenant's rights or remedies; and (d) Landlord will not be liable for any Landlord Default nor shall have Tenant have any right to offset or withhold Rent. Further notwithstanding the foregoing or any other provisions of this Lease, in no event shall Tenant be entitled to recover punitive, incidental, consequential, indirect, special or exemplary damages against Landlord for a Landlord Xxxxxxxconsequential damages.

Appears in 1 contract

Samples: Office Lease (Kratos Defense & Security Solutions, Inc.)

Landlord Default. The following events Notwithstanding anything to the contrary set forth ---------------- in this Lease, Landlord shall be an event in default in the performance of default hereunder by Landlord and shall constitute a breach of this Lease (individually a “Landlord Default”): if Landlord shall violate or fail to comply with or perform any other term, provision, covenant, agreement or condition obligation required to be performed by Landlord pursuant to this Lease if (i) Landlord is obligated to make a payment of money to Tenant, and Landlord fails to pay such unpaid amounts within ten (10) days of written notice from Tenant that the same was not paid when due, or observed (ii) such failure is other than the obligation to pay money, and Landlord fails to perform such obligation within thirty (30) days after the receipt of notice from Tenant specifying in detail Landlord's failure to perform; provided, however, if the nature of Landlord's obligation is such that more than thirty (30) days are required for its performance, then Landlord shall not be in default under this Lease if it shall commence such performance within such thirty (30) day period and thereafter diligently pursue the same to completion. Upon any such default by Landlord under this Lease, and such violation Tenant may, except as otherwise specifically provided in this Lease to the contrary, exercise any of its rights provided at law or failure shall continue for a period of thirty (30) days after written notice thereof from Tenantin equity; providedprovided that, howeverexcept as otherwise specifically provided in this Lease to the contrary, if such violation cannot be cured within the thirty (30) day cure period and Landlord commences to cure said violation within the thirty (30) day cure period and diligently pursues the cure of the violation to completion then Landlord Tenant shall have such time as is reasonably necessary no right to cure the violationterminate this Lease. In the event of a Landlord Default hereunder Tenant shall have the right to cure such default on behalf of Landlord and bring suit against Landlord, and upon obtaining a final, non-appealable judgment, recover against Xxxxxxxx’s interest in the Demised Premises. In no event shall Tenant have the right to terminate in whole or in part this Lease as if after giving the notice required above, Landlord fails timely to pay the Tenant Improvement Allowance or cure a result breach of any Landlord Default nor shall have Tenant have any right to offset or withhold Rent. Further notwithstanding the foregoing or any other provisions covenant of this Lease, in no event shall Tenant be entitled to recover punitive, incidental, consequential, indirect, special or exemplary damages against Landlord for a Landlord Xxxxxxxquiet enjoyment.

Appears in 1 contract

Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)

Landlord Default. The following events shall be an event of default hereunder by Landlord and shall constitute a breach of this Lease (individually a “Landlord Default”): if Landlord shall violate or fail to comply with or perform any other term, provision, covenant, agreement or condition to be performed or observed by Landlord under this Lease, and such violation or failure shall continue for a period of thirty (30) days after written notice thereof from Tenant; provided, however, if such violation cannot be cured within the thirty (30) day cure period and Landlord commences to cure said violation within the thirty (30) day cure period and diligently pursues the cure of the violation to completion then Landlord shall have such time as is reasonably necessary to cure the violation. In the event of any noncompliance with the terms and conditions of this Lease by Landlord, Tenant shall, before exercising any right or remedy available to it at law, in equity or hereunder, give Landlord written notice of such noncompliance. If prior to its giving such notice, Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases by execution of a subordination agreement, or by notice delivered in accordance with the provisions of Section 22 hereof) of the address of a Mortgagee which has furnished any of the financing referred to in Section 20 hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such Mortgagee. For the 30 days following the giving of the notice(s) required by the foregoing portion of this Section 22 (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot be reasonably rectified within 30 days), Landlord Default hereunder Tenant shall have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such 30 day period, any such Mortgagee shall have 30 days within which to cure the same, or, if such default on behalf cannot be cured within that period, such additional time as may be reasonably necessary to cure such default, if within such 30-day period, said Mortgagee has commenced and diligently pursues the actions or remedies to completion; provided, however, that any such cure must be completed within 90 days following Landlord's cure period. Notwithstanding the foregoing, in case of Landlord and bring suit against Landlord, and upon obtaining a final, non-appealable judgment, recover against Xxxxxxxx’s interest in the Demised Premises. In no event shall Tenant have the right to terminate in whole or in part this Lease bona fide emergency not arising as a result of any force majeure and which results in a substantial portion of the Premises being untenantable and as a result, Tenant has not occupied such portion of the Premises for at least 2 consecutive business days, (i) Tenant shall not be required to give written notice, but may, instead, give oral telephone notice to Landlord Default (so long as such oral notice is promptly followed by written notice, which may be by means of facsimile transmission), and (ii) neither Landlord nor such Mortgagee shall have Tenant have any right to offset or withhold Rent. Further notwithstanding the foregoing or any other provisions of this Lease, in no event shall Tenant be entitled to recover punitivesuch 30-day period to cure any such noncompliance and, incidentalinstead, consequential, indirect, special or exemplary damages against Landlord for a Landlord Xxxxxxx.and such Mortgagee shall have such shorter time as is reasonably

Appears in 1 contract

Samples: Office Lease (Convergent Group Corp)

Landlord Default. The occurrence of any of the following events shall be an event of default hereunder by Landlord and shall constitute a breach of this Lease (individually a “Landlord Default”): if Landlord shall violate ” under this Lease: (a) Landlord’s failure to perform or fail to comply with observe any of the covenants, provisions or perform any other term, provision, covenant, agreement or condition conditions contained in this Lease on its part to be performed or observed by Landlord under this Leaseobserved, and (a) if such violation or failure shall continue for a period of can reasonably be cured within thirty (30) days after Xxxxxxxx’s receipt of written notice thereof from Tenant; providedTenant respecting such failure, however, if such violation canfailure is not be cured within the such thirty (30) day cure period and Landlord commences to cure period; or (b) if such failure cannot reasonably be cured within said violation within the thirty (30) day period, Landlord fails to promptly commence to cure such failure upon receipt of Xxxxxx’s written notice with respect to the same, or thereafter fails to continue to make diligent and reasonable efforts to cure such failure. Notwithstanding the above, Xxxxxxxx acknowledges that continuous operation is critical to Xxxxxx’s business and agrees that if Landlord’s failure causes material interference to Tenant’s operations, Landlord shall commence its cure within such shorter period as is commercially reasonable given the nature of the failure and the interference with Xxxxxx’s operations and shall diligently pursues prosecute the cure to completion. If Tenant notifies Landlord that Landlord’s failure or activity is causing material interference to Tenant’s operations, Landlord shall respond within twenty-four (24) hours with a statement of Landlord’s plan to address the failure or activity and the estimated time for cure, shall commence the cure as soon as reasonably possible (but in any event within forty-eight (48) hours after Tenant’s notice, subject to Force Majeure but only if Landlord commences to take all commercially reasonable actions to cure any such event of Force Majeure within such 48-hour period), and shall diligently pursue and keep Tenant informed of the violation progress of the cure and Landlord’s failure to completion then Landlord comply with this sentence shall have constitute a default hereunder. Notices under the preceding sentence only may be given by email (promptly followed by notice pursuant to Addendum 5) to all of the following addresses (or other email addresses provided by either party in a notice to the other): for Landlord: Xxxxxxx X. XxXxxxxxxx, City Attorney, 000 Xxxxx Xxxxxxxxxxxxx Xxx. Lakeland, Fl 33801; and for Lessee: naops- xxxxxxxx@xxxxxx.xxx, XxxXXXxxxxxxxxxx@xxxxxx.xxx; xx-xxxxxxxxxx@xxxxxx.xxx, and naops- xxxx@xxxxxx.xxx; or (b) Any court of competent jurisdiction shall issue an injunction that materially restricts the use of the Airport for airport purposes and that is not dismissed within thirty (30) days or such additional period of time as is reasonably necessary to cure the violation. In the event dismiss such injunction if Landlord has diligently contested such injunction in good faith through appropriate proceedings; or (c) The United States of a Landlord Default hereunder Tenant shall have the right to cure such default on behalf of Landlord and bring suit against Landlord, and upon obtaining a final, non-appealable judgment, recover against Xxxxxxxx’s interest in the Demised Premises. In no event shall Tenant have the right to terminate in whole America or in part this Lease as a result of any Landlord Default nor shall have Tenant have any right to offset or withhold Rent. Further notwithstanding the foregoing authorized agency thereof or any other provisions Governmental Authority having jurisdiction over the Airport shall assume the operation, control or use of this Leasethe Airport facilities, or any substantial part thereof in such a manner as to restrict for a period of ninety (90) days or more Xxxxxx’s operations hereunder; or (d) Xxxxxxxx initiates any Condemnation Proceeding for the condemnation or taking of the Premises, the Building or the Improvements, or any portion thereof, in no event violation of Section 11.10; or (e) The Airport shall Tenant be entitled to recover punitive, incidental, consequential, indirect, special or exemplary damages against Landlord abandoned for a Landlord Xxxxxxxaviation uses.

Appears in 1 contract

Samples: Ground Lease Agreement

Landlord Default. The following events Landlord shall be an event of in default hereunder by under the Lease if (i) Landlord and shall constitute a breach of this Lease (individually a “Landlord Default”): if Landlord shall violate fails to pay any sum or fail sums due to comply with Tenant or fails to perform any other term, provision, covenant, agreement or condition to be performed or observed by Landlord under this Lease, of its obligations hereunder and such violation or said failure shall continue continues for a period of thirty (30) 30 days after written notice thereof from Tenant; provided, however, Tenant to Landlord (provided that if such violation failure cannot reasonably be cured within the thirty (30) said 30 day cure period and period, Landlord commences shall be in default hereunder only if Landlord fails to cure said violation within the thirty (30) day cure period and diligently pursues commence the cure of said failure as soon as reasonably practicable under the violation circumstances, or having commenced the curative action, fails to completion then Landlord diligently pursue same) and (ii) each Mortgagee, (as defined in Article 23), if any, of whose identity Tenant has been notified in writing shall have failed to cure such default within 30 days (or such longer period of time as is reasonably necessary may be specified in any written agreement between Tenant and Mortgagee regarding such matter) after receipt of written notice from Tenant of Landlord’s failure to cure within the violationtime periods provided above. In the event of a default by Landlord Default hereunder under the Lease, Tenant shall have the right use reasonable efforts to cure mitigate its damages and losses arising from any such default on behalf of Landlord and bring suit against LandlordTenant may pursue any and all remedies available to it at law or in equity, and upon obtaining a finalprovided, non-appealable judgmenthowever, recover against Xxxxxxxx’s interest in the Demised Premises. In no event shall Tenant claim a constructive or actual eviction or that the Premises have become unsuitable or unhabitable prior to a default and failure to cure by Landlord and its Mortgagee, if any, under the right to terminate in whole or in part this Lease as a result of any Landlord Default nor shall have Tenant have any right to offset or withhold Rent. Further notwithstanding the foregoing or any other provisions of this Lease, and further provided, in no event shall Tenant be entitled to recover punitivereceive more than its actual direct damages, incidental, consequential, indirect, it being agreed that Tenant hereby waives any claim it otherwise may have for special or exemplary damages against Landlord for a Landlord Xxxxxxxconsequential damages.

Appears in 1 contract

Samples: Office Lease Agreement (Informatica Corp)

Landlord Default. The following events shall be an In the event of default hereunder by Landlord and shall constitute a breach of this Lease (individually a “Landlord Default”): if that Landlord shall violate or fail to comply with or perform any other term, provision, covenant, agreement or condition obligation of Landlord to be performed or observed by Landlord under this Lease, Tenant’s sole and exclusive remedies for any such violation or failure shall continue be an action for money damages, specific performance and/or injunctive relief (Tenant hereby waiving the benefit of any laws granting Tenant a period lien upon the property of Landlord and/or upon rental due Landlord or granting Tenant a right to terminate this Lease upon a default by Landlord); provided, however, that Landlord shall not be in default hereunder (and Tenant shall have no right to pursue any such claim for damages in connection with any such failure) unless and until Tenant shall have delivered to Landlord a written notice specifying such default with particularity, and Landlord shall thereafter have failed to cure such default within thirty (30) days after written notice thereof from Tenant; provided, however(or, if the nature of Landlord’s obligation is such violation canthat more than thirty (30) days are reasonably required for its performance, then not be cured unless Landlord shall have failed to commence such performance of such cure within the such thirty (30) day cure period and thereafter diligently pursue the same to completion within ninety (90) days). The foregoing notwithstanding, Landlord commences agrees to cure said violation commence Switch Gear Repairs and Water Repairs within the thirty twenty-four (3024) day cure period and diligently pursues the cure hours following receipt of written notice from Tenant of the violation need for same, and shall diligently pursue the curing thereof to completion then completion. Unless and until Landlord shall have so failed to so cure any such time as is reasonably necessary to cure the violation. In the event of a Landlord Default hereunder failure after such notice, Tenant shall not have the right to cure such default on behalf any remedy or cause of action by reason thereof. All obligations of Landlord and bring suit against Landlordhereunder will be construed as covenants, and upon obtaining a final, non-appealable judgment, recover against Xxxxxxxx’s interest in the Demised Premises. In no event shall Tenant have the right to terminate in whole or in part this Lease as a result of any Landlord Default nor shall have Tenant have any right to offset or withhold Rent. Further notwithstanding the foregoing or any other provisions of this Lease, in no event shall Tenant be entitled to recover punitive, incidental, consequential, indirect, special or exemplary damages against Landlord for a Landlord Xxxxxxxnot conditions.

Appears in 1 contract

Samples: Datacenter Lease (SAVVIS, Inc.)

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Landlord Default. The following events shall be an In the event of default hereunder by Landlord any noncompliance with the terms and shall constitute a breach conditions of this Lease by Landlord, Tenant shall, before exercising any right or remedy available to it at law, in equity or hereunder, give Landlord written notice of such noncompliance. If prior to its giving such notice, Tenant has been notified in writing (individually by way of notice of Assignment of Rents and Leases by execution of a “Landlord Default”): if subordination agreement, or by notice delivered in accordance with the provisions of Paragraph 24 hereof) of the address of a Mortgagee which has furnished any of the financing referred to in Paragraph 21 hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such Mortgagee. For the 30 days following the giving of the notice(s) required by the foregoing portion of this Section 22 (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot be reasonably rectified within 30 days), Landlord shall violate have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such Mortgagee shall have 30 days within which to cure the same, or, if such default cannot be cured within that period, such additional time as may be reasonably necessary to cure such default, if within such period, said Mortgagee has commenced and diligently pursues the actions or fail remedies to comply with or perform any other term, provision, covenant, agreement or condition to be performed or observed by Landlord under this Lease, and such violation or failure shall continue for a period of thirty (30) days after written notice thereof from Tenantcompletion; provided, however, if that any such violation cancure must be completed within 160 days following Landlord's cure period. Notwithstanding the foregoing, in case of a bona fide emergency and which results in a substantial portion of the Premises being untenantable not arising as a result of the Non-Abatement Conditions, as hereinafter defined, and as a result, Tenant has not occupied such portion of the Premises for at least 7 consecutive days, (i) Tenant shall not be cured within the thirty required to give written notice, but may, instead, give oral telephone notice to Landlord (so long as such oral notice is promptly followed by written notice, which may be by means of facsimile transmission), and (ii) neither Landlord nor such Mortgagee shall be entitled to such 30) -day cure period and Landlord commences to cure said violation within the thirty (30) day cure period any such noncompliance and, instead, Landlord and diligently pursues the cure of the violation to completion then Landlord such Mortgagee shall have such shorter time as is reasonably necessary to cure such noncompliance in light of the violationnature of the emergency and all surrounding circumstances. In Upon Landlord's (and Mortgagee's, if applicable) failure to cure any failure of its performance of any of its covenants or obligations as set forth in this Lease beyond the event cure period set forth herein, Tenant, at its option, but without obligation, may perform such acts and pay such amounts as are reasonably necessary to cure such default by Landlord, and Landlord shall reimburse Tenant for the out-of-pocket costs reasonably incurred in connection therewith within 30 days following receipt of a Tenant's written request with accompanying paid invoices evidencing such costs. If such amounts are not paid by Landlord Default hereunder within said 30 days, Tenant shall have the right to cure offset such default on behalf amounts against the Base Rent due under this Lease. "Non-Abatement Conditions" shall mean if the emergency condition arises as a result of, (1) the failure of Landlord Tenant to comply with the requirements of this Lease for occupancy and bring suit against use, (2) as to HVAC, the Premises is not being utilized in accordance with the Premises' HVAC and electrical systems and (3) Tenant's installation or use of the Fiber Optic Cable and/or UPS Installation, as hereinafter defined. Further, notwithstanding the foregoing to the contrary, if the reason any such emergency arises is due to force majeure events, including, but not limited to, a (a) failure to furnish or delay in furnishing any such utilities or services when such failure or delay is caused by acts of God or the elements, labor disturbances of any character, Tenant's negligence or wilful misconduct, or other conditions the remedy for which is beyond the control of Landlord, and upon obtaining a finaland/or (b) the limitation, non-appealable judgmentcurtailment, recover against Xxxxxxxx’s interest in rationing or restriction on use of water or electricity, gas or any other form of energy or any other service or utility whatsoever serving the Demised Premises. In no event shall Tenant have Premises or the right to terminate in whole Buildings Complex by utility providers or in part this Lease as a result of any Landlord Default nor shall have Tenant have any right to offset or withhold Rent. Further notwithstanding acts of governmental authorities including under Applicable Laws, the foregoing or any other offset right shall not be available to the Tenant. Finally, provided the Tenant has complied with the notice to Landlord and Mortgagee (and afforded the cure opportunities) pursuant to the terms of the first four sentences of this Paragraph, and has not elected to avail itself of the offset provisions of this LeaseParagraph as Tenant's remedy, in no event the Tenant shall Tenant be entitled to recover punitiveequitable relief and actual damages, incidentalbut not consequential or punitive damages, consequential, indirect, special or exemplary damages against Landlord for a Landlord XxxxxxxLandlord's breach of Landlord's obligations hereunder.

Appears in 1 contract

Samples: Office Lease (Lightbridge Inc)

Landlord Default. The Each of the following events shall be an event of default hereunder by Landlord and shall constitute a breach of Landlord Default hereunder: (i) in the event this Lease terminates due to a termination of the Master Lease or termination of Landlord’s right to possession of the Premises under the Master Lease for any reason based on Landlord’s action or inaction, and if Master Landlord has not then assumed this Lease otherwise unmodified as a direct lease between Master Landlord, as landlord, and Tenant, as tenant, and executes documentation to such effect reasonably satisfactory to Tenant (individually such termination, a “Lease Termination”); or (ii) Landlord Default”): if Landlord shall violate is in default in the performance of any of Landlord’s obligations hereunder or fail under the Master Lease or fails to comply with observe or perform any other term, provisioncovenant or agreement to be performed by Landlord hereunder, covenantand, with respect to any such default or failure hereunder, Landlord shall have failed to perform such obligations within five (5) days after receipt of written notice thereof for monetary defaults and within thirty (30) days for all other defaults or failures as aforesaid after receipt of written notice by Tenant to Landlord, which notice shall specify the nature of such failure of performance; provided, however, (I) that Landlord shall not be permitted any such notice and cure period for a default of any of the representations and warranties, contained herein and (II) that Landlord shall not be in default hereunder if any such failure of performance does not concern financial matters and is of such a nature that Landlord cannot reasonably remedy the same within such thirty (30) day period, and Landlord commences within such thirty (30) day period to cure such failure of performance and thereafter in good faith and with diligence and continuity prosecutes such cure to completion; or (iii) Landlord Guarantor fails to observe or perform any term, covenant or agreement or condition to be performed or observed by Landlord Guarantor under this Lease, the Landlord Guaranty and such violation or failure shall continue continues for a period of thirty (30) days after receipt of written notice thereof from Tenantby Tenant to Landlord, which notice shall specify the nature of such failure; provided, however, if such violation canLandlord Guarantor shall not be cured within the thirty (30) day permitted any notice or cure period and Landlord commences to cure said violation within the thirty (30) day cure period and diligently pursues the cure for a default of any of the violation representations, warranties and covenants set forth in Section 12.15 hereof with the sole exception that in the event that any certificate to completion be delivered under 12.15 (b) hereof is not delivered on a timely basis then such failure shall not constitute a default unless such failure continues for ten (10) days after receipt of written notice thereof by Tenant to Landlord; or (iv) Landlord or either Landlord Guarantor makes an assignment for the benefit of creditors or a composition with creditors, is unable or admits in writing its inability to pay its debts as they mature, files a petition in bankruptcy, becomes insolvent (howsoever such insolvency may be evidenced), is adjudicated insolvent or bankrupt, petitions or applies to any tribunal for the appointment of any receiver, liquidator, or trustee of or for it or any substantial part of its property or assets, commences any proceeding relating to it under any applicable bankruptcy law of any jurisdiction whether now or hereafter in effect relating to bankruptcy, reorganization, arrangement, readjustment of debt, receivership, dissolution, or liquidation; or if there is commenced against Landlord or either Landlord Guarantor any such proceeding that remains undismissed for a period of ninety (90) days or more, or an order, judgment, or decree approving the petition in any such proceeding is entered; or if Landlord or either Landlord Guarantor by any act or failure to act indicates its consent to, approval of, or acquiescence in, any such proceeding or any appointment of any receiver, liquidator, or trustee of or for it or for any substantial part of its property or assets, suffers any such appointment to continue undischarged or unstayed for a period of ninety (90) days or more, or takes any action for the purpose of effecting any of the foregoing; or if any court of competent jurisdiction assumes jurisdiction with respect to any such proceeding, or if a receiver or a trustee or other officer or representative of a court or of creditors, takes and holds possession of any substantial part of the property or assets of Landlord or either Landlord Guarantor. (v) If any change in the financial condition of the Landlord Guarantor occurs which results in a breach of the financial covenants set forth in Section 12.15 (a) hereof, if the Landlord Guarantor fails to either (A) satisfy the reporting requirements set forth in Section 12.15 (b) hereof, or (B) violates the representations and covenants set forth in Section 12.15 (c) hereof, then in either instance a Landlord Default shall have such time as is reasonably necessary to cure the violationoccur. In the event of such a Landlord Default hereunder Tenant Default, Landlord shall have the right ability to cure such default on behalf by providing either: A. Within fifteen (15) days of receipt by Landlord of a notice of such default one or two alternate guarantors acceptable to Tenant in the exercise of its sole discretion with both (i) supporting financial documentation in form and substance acceptable to Tenant in the exercise of its reasonable discretion, and which demonstrate an ability to satisfy the terms of Section 12.15 (a) of the Lease, and (ii) a guaranty agreement duly executed by said alternate guarantor(s) in form and substance similar to the Landlord Guaranty and otherwise in form reasonably satisfactory to Tenant; or B. Within thirty (30) days of its receipt of notice of such default both (i) an irrevocable standby letter of credit in favor of Tenant in the amount of one million dollars ($1,000,000.00) meeting the requirements for letters of credit set forth in Section 3.8 hereof and otherwise satisfactory to Tenant in the exercise of its reasonable discretion and (ii) Landlord and bring suit against Tenant entering into an amendment to this Lease providing for Tenant’s drawing rights with respect to such letter of credit in form and substance analogous to Section 3.8 hereof, and acceptable to Tenant in the exercise of its reasonable discretion. If a Lease Termination occurs, then Tenant lawfully may, immediately or at any time thereafter, declare this Lease terminated pursuant to a Landlord Default, and this Lease shall come to an end on the date specified therein as fully and completely as if such date were the date herein originally fixed for the expiration of the Lease Term, and the Tenant will then quit and surrender the Premises to the Landlord, and upon obtaining a final, non-appealable judgment, recover against Xxxxxxxx’s interest in but the Demised Premises. In no event Landlord shall Tenant have the right to terminate in whole or in part this Lease remain liable as a result of any Landlord Default nor shall have Tenant have any right to offset or withhold Rent. Further notwithstanding the foregoing or any other provisions of this Lease, in no event shall Tenant be entitled to recover punitive, incidental, consequential, indirect, special or exemplary damages against Landlord for a Landlord Xxxxxxxhereinafter provided.

Appears in 1 contract

Samples: Sublease Agreement (TripAdvisor, Inc.)

Landlord Default. The following events shall be an event of default hereunder by Landlord and shall constitute a breach of this Lease (individually a “Landlord Default”): if If Landlord shall violate violate, neglect or fail to comply with perform or perform observe any other termof the covenants, provisionprovisions, covenant, agreement or condition conditions contained in this Lease on its part to be performed or observed by Landlord under this Leaseobserved, which default is causing material interference with Tenant’s use of the Premises for the Permitted Use, and such violation or failure shall continue which default continues for a period of more than thirty (30) days after receipt of written notice thereof from Tenant; providedTenant specifying such default, however, or if such violation cannot be cured within the default is of a nature to require more than thirty (30) day cure period days for remedy and Landlord commences such default continues beyond the time reasonably necessary to cure said violation (provided Landlord must have undertaken procedures to cure the default within the such thirty (30) day cure days period and thereafter failed to diligently pursues the pursue such efforts to cure of the violation to completion completion), then Tenant shall give to Landlord (by facsimile transmission to 000-000-0000, or to such other number as Landlord shall have give written notice to Tenant) a further notice of Landlord’s failure and an additional Business Day to commence to cure. If Landlord continues to fail to commence to cure within such time as is reasonably additional Business Day, then, Tenant may elect to incur any reasonable expense necessary to cure perform the violation. In the event obligation of a Landlord Default hereunder specified in such notice and Tenant shall have be entitled to recover its reasonable out-of-pocket expenses from Landlord. Notwithstanding the right to foregoing, if in Tenant’s reasonable judgment, an emergency situation shall exist, Tenant may cure such default on behalf of with only reasonable (under the circumstances) notice to Landlord and bring suit against Landlord, and upon obtaining a final, non-appealable judgment, recover against Xxxxxxxx’s interest in the Demised Premisesbeing required. In no event shall Tenant have the right to terminate in whole or in part this Lease as a result of any Landlord Default nor shall have Tenant have any right ability to offset or withhold Rent. Further notwithstanding the foregoing deduct any expenses incurred by Tenant from any Base Rent or any other provisions of Additional Rent payable by Tenant under this Lease, in no event shall Tenant be entitled to recover punitive, incidental, consequential, indirect, special or exemplary damages against Landlord for a Landlord Xxxxxxx.

Appears in 1 contract

Samples: Lease Agreement (Higher One Holdings, Inc.)

Landlord Default. The following events A "Landlord Default" shall be an event deemed to exist if (i) Landlord defaults in the performance of default hereunder by Landlord and shall constitute a breach any of its monetary obligations under this Lease and fails to cure such default within ten (individually a “10) business days of Landlord's receipt of written notice of such default or (ii) Landlord Default”): if Landlord shall violate or fail to comply with or perform defaults in the performance of any other term, provision, covenant, agreement or condition to be performed or observed by Landlord of its non-monetary obligations under this LeaseLease and fails to cure such default, or to commence and such violation or failure shall continue for a period of diligently pursue the completion thereof, within thirty (30) days after of Landlord's receipt of written notice thereof from Tenant; of such default, provided, however, that Landlord shall not be deemed in default if such violation default cannot be cured within the such thirty (30) day cure period and Landlord commences to cure said violation curing such default within the such thirty (30) day cure period and thereafter diligently pursues the such cure of the violation to completion then in no more than 60 days from the date of Tenant's original notice, if reasonably possible under the circumstances. Subject to remedies for Landlord shall have such time as is reasonably necessary Default, if any, set forth in other Articles of this Lease and in addition to cure the violation. In the event of any other remedies available in law or in equity, if a Landlord Default hereunder shall exist, Tenant shall have the right may proceed to cure such default on behalf which has not been cured following written notice of Landlord default and bring suit against Landlordexpiration of the cure period stated above in this Article 16.2, and upon obtaining a finaloffset against the Rents, non-appealable judgmentthe costs and expenses incurred by Tenant to cure said default, recover against Xxxxxxxx’s interest together with an administrative charge equal to ten percent (10%) of the amount of said costs and expenses; or if such default which has not been cured following written notice of default and expiration of the cure period stated above in the Demised Premises. In no event shall Tenant have the right to terminate in whole or in part this Lease as a result of any Landlord Default nor shall have Tenant have any right to offset or withhold Rent. Further notwithstanding the foregoing or any other provisions of this Lease, in no event shall Tenant be entitled to recover punitive, incidental, consequential, indirect, special or exemplary damages against Landlord for a Landlord Xxxxxxx.Article

Appears in 1 contract

Samples: Assignment and Assumption of Lease (AEI Income & Growth Fund 27 LLC)

Landlord Default. The following events shall be an event of default hereunder by Landlord and shall constitute a breach of this Lease (individually deemed a “Landlord Default”): if ” by Landlord shall violate hereunder and a material breach of this Lease: If Landlord fails to keep, perform or fail to comply with observe any of the covenants, agreements, terms or perform any other termprovisions, provision, covenant, agreement warranties or condition representations contained in this Lease that are to be kept or performed or observed by Landlord under this Lease, and Landlord fails to cure such violation or failure shall continue for a period of default within thirty (30) days after written receiving notice from Tenant thereof from Tenant; provided, however(or, if such violation same cannot reasonably be cured within the thirty (30) day days, if Landlord shall fail to commence such cure period and Landlord commences to cure said violation within the thirty (30) day cure period days following Tenant’s notice and diligently pursues the prosecute said cure of the violation to completion then Landlord shall have such time as is reasonably necessary to cure the violationcompletion). In the event of If a Landlord Default occurs, Tenant may, at any time thereafter prior to the curing thereof and without waiving any other rights hereunder or available to Tenant shall have the right to cure such default on behalf of Landlord and bring suit against Landlord, and upon obtaining a final, non-appealable judgment, recover against Xxxxxxxx’s interest in the Demised Premises. In no event shall Tenant have the right to terminate in whole at law or in part this Lease as a result equity (Tenant’s rights being cumulative), do any one or more of any the following: (A) perform Landlord’s obligations hereunder and offset the reasonable costs and expenses incurred by Tenant in doing so against Base Rent thereafter coming due hereunder to the extent Landlord Default nor shall have Tenant have any right fails to offset or withhold Rent. Further notwithstanding the foregoing or any other provisions of this Lease, reimburse such reasonable costs within thirty (30) days following written demand (provided in no event shall Tenant be entitled permitted to recover punitiveoffset more than twenty percent [20%] of Base Rent in any given month); or (B) bring suit for the collection of any amounts for which Landlord is in default, incidentalseek injunctive relief, consequentialor seek specific performance for any other covenant or agreement of Landlord, indirect, special or exemplary damages against Landlord for a Landlord Xxxxxxxwithout terminating this Lease.

Appears in 1 contract

Samples: Master Lease Agreement (Texas Roadhouse, Inc.)

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