Common use of Landlords Default Tenants Remedies Clause in Contracts

Landlords Default Tenants Remedies. If during the Term of this Lease, Landlord fails to comply with any of the terms, conditions or provisions of this Lease, or if Landlord breaches any warranty contained in this Lease, and Landlord does not cure such failure or breach within thirty (30) days after receipt of written notice from Tenant specifying such non-compliance or breach, or if such failure or breach is of such a nature that Landlord cannot reasonably remedy the same within such thirty (30) day period, Landlord shall fail to commence to remedy the same within such thirty (30) day period and to prosecute such remedy to completion with reasonable diligence, then, in any of said events, provided that Tenant has also given Landlord's mortgagee notice of such breach or default as required in this Section 19 below, Tenant shall have the right, at Tenant's option, to cure such default or perform such covenant or obligation on the part of Landlord, and Landlord shall be liable for all reasonable out-of-pocket costs and expenses so incurred by Tenant. Notwithstanding the foregoing provisions, in the event of an emergency when action is required to be taken forthwith to avoid personal injury or damage to the Premises or to Tenant's equipment and other personal property, Tenant may take curative action as contemplated under this Section even though the applicable cure period (which applies when an emergency does not exist) of the Landlord has not yet expired. Tenant shall endeavor to give Landlord such prior notice (written or oral), if any, as may be reasonable under the circumstances and shall in any event notify Landlord as soon as possible after taking curative action. If Landlord fails to reimburse Tenant for all such amounts expended within twenty (20) days after receipt of a billing therefor, or if Landlord fails to pay Tenant any other amounts due under this Lease within ten (10) days after Tenant notifies Landlord that such sums are past due, Tenant may deduct such amounts, together with interest thereon at the Applicable Rate from the date of Landlord's receipt of the above billing, from one or more installments of Rent due to Landlord until Tenant is fully reimbursed. Tenant agrees that its right of self-help shall be carefully and judiciously exercised, it being understood and agreed that, whenever possible, Landlord shall be given sufficient opportunity to perform its obligations, in order to avoid any conflict with respect to whether or not self-help action should have been taken. Tenant agrees to give Landlord's mortgagee, by certified mail, return receipt requested, a copy of any notice of default sent to Landlord, provided that Tenant has been notified in writing, (by way of Notice of Assignment of Rents and Leases or otherwise) of the address of Landlord's mortgagee. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then prior to Tenant exercising any right to terminate this Lease on account of such default, Landlord's mortgagee shall have an additional thirty (30) days within which to cure such default. If such default cannot be cured within that time, Landlord's mortgagee shall have additional time as may be necessary if within such thirty (30) days, Landlord's mortgagee has commenced and is diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure). Tenant may not exercise any right to terminate this Lease on account of any such default by Landlord, whether available under this Lease, or at law or in equity, while such remedies are being so diligently pursued by Landlord's mortgagee.

Landlords Default Tenants Remedies. If If, during the Term Term, Landlord defaults in fulfilling any of its covenants, obligations or agreements set forth in this Lease, Tenant may give Landlord notice of such default and, if at the expiration of 30 days after delivery of such notice, such default continues to exist, or in the event of a default which cannot with due diligence be cured within a period of 30 days, if Landlord fails to proceed promptly after the delivery of such notice and with all due diligence to commence to cure the same and thereafter to prosecute the curing of such default with all due diligence to completion as soon as reasonably possible, then Tenant will be entitled to exercise any right or remedy available to Tenant at law or in equity by reason of such default, except to the extent expressly waived or limited by the terms of this Lease, Landlord fails to comply with any of the terms, conditions or provisions of this Lease, or if Landlord breaches any warranty contained in this Lease, and Landlord does not cure such failure or breach within thirty (30) days after receipt of written notice from Tenant specifying such non-compliance or breach, or if such failure or breach is of such a nature that Landlord cannot reasonably remedy the same within such thirty (30) day period, Landlord shall fail to commence to remedy the same within such thirty (30) day period and to prosecute such remedy to completion with reasonable diligence, then, in any of said eventsand, provided that Tenant has also given Landlord's mortgagee stated in such notice of such breach or default as required in to Landlord that Tenant intended to effect its self-help and offset rights under this Section 19 below, Tenant shall have the right, at Tenant's option, to cure such default or perform such covenant or obligation on the part of Landlord, and Landlord shall be liable for all reasonable out-of-pocket costs and expenses so incurred by Tenant. Notwithstanding the foregoing provisions, in the event of an emergency when action is required to be taken forthwith to avoid personal injury or damage to the Premises or to Tenant's equipment and other personal propertySECTION 15.4, Tenant may take curative action as contemplated under this Section even though proceed to cure Landlord's default and offset the applicable cure period (which applies when an emergency does not exist) of the Landlord has not yet expired. amount reasonably expended by Tenant shall endeavor to give Landlord such prior notice (written or oral)in doing so, if any, as may be reasonable under the circumstances and shall in any event notify Landlord as soon as possible after taking curative action. If Landlord fails to reimburse Tenant for all such amounts expended within twenty (20) days after receipt of a billing therefor, or if Landlord fails to pay Tenant any other amounts due under this Lease within ten (10) days after Tenant notifies Landlord that such sums are past due, Tenant may deduct such amounts, together with plus interest thereon at the Applicable Interest Rate from the date incurred to the date offset, against the next accruing amounts of Basic Rent due hereunder; provided, however, in no event may Tenant offset against any monthly installment of Basic Rent an amount exceeding 25% of such installment and if such monthly offset is less than the total amount of Tenant's expenses which are allowable for offset, the remaining balance thereof may be carried forward and offset against future installments of Basic Rent (but never more than 25% of any month's Basic Rent); provided further that, if the balance of the Term will not allow full recovery of the offset amount at the rate of 25% of each installment of Basic Rent, Tenant may amortize the full offset over the balance of the remaining monthly installments of Basic Rent, even if the monthly amortized offsets are in excess of 25% of those installments. Notwithstanding the foregoing, however, if Tenant has been notified of the name and address of any mortgagee, ground lessor, trust deed holder, and/or sale-leaseback lessor of Landlord's receipt interest in the Premises, then Tenant will not exercise any remedy as a result of the above billing, from one or more installments of Rent due to Landlord Landlord's default unless and until Tenant is fully reimbursed. Tenant agrees that its right of self-help shall be carefully and judiciously exercised, it being understood and agreed that, whenever possible, Landlord shall be has given sufficient opportunity to perform its obligations, in order to avoid any conflict with respect to whether or not self-help action should have been taken. Tenant agrees to give Landlord's such mortgagee, ground lessor, trust deed holder and/or sale-leaseback lessor, by registered or certified mail, return receipt requested, a copy of any notice of default sent served upon Landlord simultaneously with the delivery of notice to Landlord, provided that Tenant has been notified in writing, (by way of Notice of Assignment of Rents and Leases or otherwise) of the address of Landlord's mortgagee. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then prior to Tenant exercising any right to terminate this Lease on account of such default, Landlord's mortgagee shall have an additional thirty (30) days within which to cure such default. If such default cannot be cured within that time, Landlord's mortgagee shall have additional time as may be necessary if within such thirty (30) days, Landlord's mortgagee has commenced and is diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure). Tenant may not exercise any right to terminate this Lease on account of any such default by Landlord, whether available under this Lease, or at law or in equity, while such remedies are being so diligently pursued by Landlord's mortgagee.

Landlords Default Tenants Remedies. If If, during the Term Term, Landlord defaults in fulfilling any of its covenants, obligations or agreements set forth in this Lease, Tenant may give Landlord notice of such default and, if at the expiration of 30 days after delivery of such notice, such default will continue to exist, or in the event of a default which cannot with due diligence be cured within a period of 30 days, if Landlord fails to proceed promptly after the delivery of such notice and with all due diligence to commence to cure the same and thereafter to prosecute the curing of such default with all due diligence to completion as soon as reasonably possible, then Tenant will be entitled to exercise any right or remedy available to Tenant at law or in equity by reason of such default, except to the extent expressly waived or limited by the terms of this Lease, Landlord fails to comply with any of the terms, conditions or provisions of this Lease, or if Landlord breaches any warranty contained in this Lease, and Landlord does not cure such failure or breach within thirty (30) days after receipt of written notice from Tenant specifying such non-compliance or breach, or if such failure or breach is of such a nature that Landlord cannot reasonably remedy the same within such thirty (30) day period, Landlord shall fail to commence to remedy the same within such thirty (30) day period and to prosecute such remedy to completion with reasonable diligence, then, in any of said eventsand, provided that Tenant has also given Landlord's mortgagee stated in such notice of such breach or default as required in to Landlord that Tenant intended to effect its self-help and offset rights under this Section 19 below, Tenant shall have the right, at Tenant's option, to cure such default or perform such covenant or obligation on the part of Landlord, and Landlord shall be liable for all reasonable out-of-pocket costs and expenses so incurred by Tenant. Notwithstanding the foregoing provisions, in the event of an emergency when action is required to be taken forthwith to avoid personal injury or damage to the Premises or to Tenant's equipment and other personal property15.4, Tenant may take curative action as contemplated under this Section even though proceed to cure Landlord's default and offset the applicable cure period (which applies when an emergency does not exist) of the Landlord has not yet expired. amount reasonably expended by Tenant shall endeavor to give Landlord such prior notice (written or oral)in doing so, if any, as may be reasonable under the circumstances and shall in any event notify Landlord as soon as possible after taking curative action. If Landlord fails to reimburse Tenant for all such amounts expended within twenty (20) days after receipt of a billing therefor, or if Landlord fails to pay Tenant any other amounts due under this Lease within ten (10) days after Tenant notifies Landlord that such sums are past due, Tenant may deduct such amounts, together with plus interest thereon at the Applicable Interest Rate from the date incurred to the date offset, against the next accruing amounts of Basic Rent due hereunder; provided, however, in no event may Tenant offset against any monthly installment of Basic Rent an amount exceeding of such installment and if such monthly offset is less than the total amount of Tenant's expenses which are allowable for offset, the remaining balance thereof may be carried forward and offset against future installments of Basic Rent (but never more than of any month's Basic Rent); provided further that, if the balance of the Term will not allow full recovery of the offset amount at the rate of of each installment of Basic Rent, Tenant may amortize the full offset over the balance of the remaining monthly installments of Basic Rent, even if the monthly amortized offsets are in excess of of those installments. Notwithstanding the foregoing, however, if Tenant has been notified of the name and address of any mortgagee, ground lessor, trust deed holder, and/or sale-leaseback lessor of Landlord's receipt interest in the Premises, then Tenant will not exercise any remedy as a result of the above billing, from one or more installments of Rent due to Landlord Landlord's default unless and until Tenant is fully reimbursed. Tenant agrees that its right of self-help shall be carefully and judiciously exercised, it being understood and agreed that, whenever possible, Landlord shall be has given sufficient opportunity to perform its obligations, in order to avoid any conflict with respect to whether or not self-help action should have been taken. Tenant agrees to give Landlord's such mortgagee, ground lessor, trust deed holder and/or sale-leaseback lessor, by registered or certified mail, return receipt requested, a copy of any notice of default sent served upon Landlord simultaneously with the delivery of notice to Landlord, provided that Tenant has been notified in writing, (by way of Notice of Assignment of Rents and Leases or otherwise) of the address of Landlord's mortgagee. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then prior to Tenant exercising any right to terminate this Lease on account of such default, Landlord's mortgagee shall have an additional thirty (30) days within which to cure such default. If such default cannot be cured within that time, Landlord's mortgagee shall have additional time as may be necessary if within such thirty (30) days, Landlord's mortgagee has commenced and is diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure). Tenant may not exercise any right to terminate this Lease on account of any such default by Landlord, whether available under this Lease, or at law or in equity, while such remedies are being so diligently pursued by Landlord's mortgagee.

Landlords Default Tenants Remedies. If during In the Term event of this Lease, any failure by Landlord fails to comply with perform any of its obligations hereunder, Tenant (except in the termscase of an emergency which shall entitle Tenant to take action as required under the circumstances upon concurrent notice to Landlord) shall take no action without having first given Landlord thirty (30) days written notice of any such default. Following such notice and failure by Landlord to cure, conditions Tenant shall have all rights available to it at law or provisions in equity, and shall have the further right to take the necessary actions to perform Landlord’s uncured obligations hereunder at Landlord's expense and, at Tenant’s election, to either (i) deduct the cost of this Leasecuring Landlord’s obligations from the next due installment of Monthly Rent, or if (ii) invoice Landlord breaches any warranty contained in this Leasefor the costs and expenses thereof (including, without limitation, reasonable attorneys’ fees and costs), unless Landlord does not cure such failure or breach has commenced and diligently performed its uncured obligations hereunder within said thirty (30) day period. Landlord shall remit payment to Tenant within thirty (30) days after of receipt of written notice invoice from Tenant. If Landlord fails to remit payment to Tenant specifying such non-compliance or breach, or if such failure or breach is of such a nature that Landlord cannot reasonably remedy within the same within such aforesaid thirty (30) day period, Tenant shall still have the right to offset and deduct said sum from Monthly Rent. If as a result of Landlord’s failure to perform any repairs required to be performed by Landlord under this Lease, the Premises, Tenant’s parking spaces or any portion thereof, or the direct exterior access to and from the Premises are rendered untenantable such that Tenant cannot reasonably conduct its business from the Premises, then all rent due under this Lease and all other payments payable by Tenant to Landlord under this Lease shall fail be abated until such repair that Landlord is obligated to commence make under this Lease has been made and the Premises, parking area or access, as the case may be, has been restored; provided, however, if the Premises, Tenant’s parking spaces or any portions thereof or Tenant’s direct exterior access to remedy and from the same within such Premises and the parking area remains untenantable for a period of more than thirty (30) day period and to prosecute such remedy to completion with reasonable diligence, then, consecutive business days or for a total of sixty (60) business days or more in any of said eventstwelve (12) consecutive calendar months, provided that Tenant has also given Landlord's mortgagee notice of such breach or default as required in this Section 19 below, then Tenant shall have the right, at Tenant's option, be entitled to cure such default or perform such covenant or obligation on the part of Landlord, and Landlord shall be liable for all reasonable out-of-pocket costs and expenses so incurred by Tenant. Notwithstanding the foregoing provisions, in the event of an emergency when action is required to be taken forthwith to avoid personal injury or damage to the Premises or to Tenant's equipment and other personal property, Tenant may take curative action as contemplated under this Section even though the applicable cure period (which applies when an emergency does not exist) of the Landlord has not yet expired. Tenant shall endeavor to give Landlord such prior notice (written or oral), if any, as may be reasonable under the circumstances and shall in any event notify Landlord as soon as possible after taking curative action. If Landlord fails to reimburse Tenant for all such amounts expended within twenty (20) days after receipt of a billing therefor, or if Landlord fails to pay Tenant any other amounts due under terminate this Lease within upon ten (10) days after Tenant notifies Landlord that such sums are past due, Tenant may deduct such amounts, together with interest thereon at the Applicable Rate from the date of Landlord's receipt of the above billing, from one or more installments of Rent due to Landlord until Tenant is fully reimbursed. Tenant agrees that its right of self-help shall be carefully and judiciously exercised, it being understood and agreed that, whenever possible, Landlord shall be given sufficient opportunity to perform its obligations, in order to avoid any conflict with respect to whether or not self-help action should have been taken. Tenant agrees to give Landlord's mortgagee, by certified mail, return receipt requested, a copy of any prior written notice of default sent to Landlord, provided that Tenant has been notified in writing, (by way of Notice of Assignment of Rents and Leases or otherwise) of the address of Landlord's mortgagee. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then prior to Tenant exercising any right to terminate this Lease on account of such default, Landlord's mortgagee shall have an additional thirty (30) days within which to cure such default. If such default cannot be cured within that time, Landlord's mortgagee shall have additional time as may be necessary if within such thirty (30) days, Landlord's mortgagee has commenced and is diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure). Tenant may not exercise any right to terminate this Lease on account of any such default by Landlord, whether available under this Lease, or at law or in equity, while such remedies are being so diligently pursued by Landlord's mortgagee.