Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuous.
Appears in 5 contracts
Samples: Lease (Radiation Therapy Services Inc), Lease (Radiation Therapy Services Inc), Lease (Radiation Therapy Services Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord's alleged failure to perform, and breach or default. Tenant shall send have no right to terminate this Lease for any breach or default by certified mailLandlord hereunder and no right, return receipt requestedfor any such breach or default, a copy to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of such Notice of Default to business or any and all mortgage holdersother indirect, provided special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary so long as their efforts are diligent and continuousto cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).
Appears in 5 contracts
Samples: Lease Agreement (Dexcom Inc), Lease Agreement (Dexcom Inc), Lease Agreement (EPIX Pharmaceuticals, Inc.)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“"Notice of Default”") to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s 's cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If if Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuous.
Appears in 4 contracts
Samples: Lease (Radiation Therapy Services Inc), Lease Agreement (Radiation Therapy Services Inc), Lease (Radiation Therapy Services Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in default in the performance of any of its obligations under this Lease, Tenant hereunder unless it shall provide written notice (“Notice fail to perform such obligations and such failure shall continue for a period of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may is reasonably required to correct any such default after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged default. Tenant shall have no right to terminate this Lease for any default by Landlord hereunder and no right, for any such default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be necessary so long as their efforts are diligent liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Where provision is made in this Lease for Landlord's consent and continuousTenant shall request such consent and Landlord shall fail or refuse to give such consent, Tenant shall not be entitled to any damages for any withholding by Landlord of its consent, it being intended that Tenant's sole remedy shall be an action for specific performance or injunction (and reimbursement of Tenant's reasonable legal fees and other out-of-pocket expenses incurred in successfully obtaining a final, unappealable injunction against Landlord), and that such remedy shall be available only in those cases where Landlord is expressly required not to withhold its consent unreasonably.
Appears in 3 contracts
Samples: Lease Agreement (Signal Pharmaceuticals Inc), Lease Agreement (Signal Pharmaceuticals Inc), Lease Agreement (Signal Pharmaceuticals Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged failure to perform, and breach or default. Tenant shall send have no right to terminate this Lease for any breach or default by certified mailLandlord hereunder and no right, return receipt requestedfor any such breach or default, a copy to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of such Notice of Default to business or any and all mortgage holdersother indirect, provided special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.5 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary so long as their efforts are diligent to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). Where provision is made in this Lease for Landlord’s consent and continuousTenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, Tenant shall not be entitled to any damages and Tenant hereby waives any claim based on such failure, refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be entitled to bring an action for specific performance or injunction.
Appears in 3 contracts
Samples: Lease Agreement (AlerisLife Inc.), Lease Agreement (RMR Group Inc.), Lease Agreement (Reit Management & Research Inc.)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet shall in no event be in default in the performance of any of its Landlord’s obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, Lease unless and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). until Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete perform such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure obligation within thirty (30) days after notice by Tenant to Landlord (“Tenant’s Default Notice”) specifying the manner in which Landlord has failed to perform any such obligation (provided that if correction of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional any such matter reasonably requires longer than thirty (30) daysdays and Landlord so notifies Tenant within thirty (30) days after such Tenant’s Default Notice is given, after receipt Landlord shall be allowed such longer period, but only if cure is begun within such 30-day period and thereafter diligently prosecuted to completion). In the event of any default by Landlord hereunder, Tenant shall have no right to perform such Landlord obligation and recover from Landlord any costs so incurred, or (except as expressly otherwise provided in Section 6.03 above) to xxxxx or withhold Rent, but Tenant shall have the right, in the event of a second written notice from default by Landlord hereunder, to commence and to prosecute an independent proceeding against Landlord for the recovery of damages or for equitable relief. This Lease shall be construed as though Landlord’s and Tenant’s covenants contained herein are independent and not dependent, within which and Tenant hereby waives the benefit of any statute or judicial law to cure such default orthe contrary. In no event shall Landlord ever be liable to Tenant for any indirect, if such default cannot be cured within that timespecial, then such additional time as may be necessary so long as their efforts are diligent and continuousconsequential, or punitive damages.
Appears in 3 contracts
Samples: Lease (C4 Therapeutics, Inc.), Lease (C4 Therapeutics, Inc.), Lease Agreement (Kala Pharmaceuticals, Inc.)
Landlord’s Default. If Tenant asserts that Landlord has failed shall violate, neglect or fail to meet perform or observe any of the representations, covenants, provisions, or conditions contained in this Lease on its obligations under this Leasepart to be performed or observed, Tenant shall provide which default continues for a period of more than thirty (30) days after receipt of written notice from Tenant specifying such default (“Notice provided, however, such period shall be limited to two (2) business days with respect to a default under Section 31.17(c)), or if such default is of Default”a nature to require more than thirty (30) days for remedy and continues beyond the time reasonably necessary to cure (provided Landlord specifying must have undertaken procedures to cure the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of default within such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt and thereafter diligently pursues such efforts to cure to completion, provided that Landlord shall not have such additional period to cure with respect to default under Section 31.17(c)), Tenant, at its option (in addition to all other rights and remedies provided Tenant at law, in equity or hereunder), upon further written notice to Landlord of the Notice of Default in Tenant’s intention to exercise any remedy hereunder, which shall provide Landlord with an additional ten (10) days cure period thereafter (provided that Landlord shall not have such additional period to commence curing any non-performance by cure with respect to default under Section 31.17(c)), may either terminate this Lease upon written notice thereof given to Landlord, or incur any reasonable expense necessary to perform the obligation of Landlord specified in such notice and xxxx Landlord shall have as much time thereafter for the costs thereof. If Landlord fails to complete reimburse Tenant for such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure reasonable costs within thirty (30) days of after Landlord’s receipt of such xxxx, Tenant may deduct such costs from the Notice next due installments of DefaultMonthly Base Rent, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from until such costs are recouped by Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuous.
Appears in 3 contracts
Samples: Master Lease Agreement (Spirit MTA REIT), Master Lease (Spirit MTA REIT), Master Lease Agreement (Spirit Realty Capital, Inc.)
Landlord’s Default. If 19.8.1 Landlord shall not be deemed in default under the terms of this Lease unless (i) Landlord shall fail to pay any amount payable hereunder when and as such sum becomes due and payable and such failure shall continue for more than thirty (30) days after written notice thereof from Tenant asserts that or (ii) Landlord has failed shall fail to meet any of perform its obligations under this Lease, Tenant shall provide Lease for more than thirty (30) days after written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holdersdefault shall have been received by Landlord, provided that Tenant has been previously advised of if the addresses) curing of such mortgage holder(s). default reasonably requires in excess of thirty (30) days, Landlord shall have a not be deemed in default hereunder if it shall commence to cure such default within such thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to prosecutes such cure, then Landlord Tenant shall be have its rights and remedies provided at law and in default under equity and pursuant to the provisions of this Lease.
19.8.2 Xxxxxx agrees to give any mortgagee by registered mail, a copy of any notice of default served upon Landlord, provided that before sending such notice, Xxxxxx has been notified in writing of the address of the mortgagee. If Tenant further agrees, except in the event of an emergency, that if Landlord is fails to cure any default within the time provided in default under this Lease, then the mortgage holder(s) mortgagee shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such default orthe default, and if such the default cannot be cured within that timethirty (30) days, then such reasonable additional time as may be necessary to cure the default will be granted if within the initial thirty (30) day period, the mortgagee has commenced and is diligently pursuing its remedies necessary to cure the default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure), in which event, the Lease shall not be terminated while such remedies are being so long as their efforts are diligent and continuousdiligently pursued.
19.8.3 The provisions of this Section 19.8 shall survive the expiration or termination of this Lease.
Appears in 2 contracts
Samples: Office Lease (Rocket Companies, Inc.), Office Lease (Rocket Companies, Inc.)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet In the event of any alleged default on the part of its obligations under this LeaseLandlord, Tenant shall provide give written notice (“Notice of Default”) to Landlord specifying in the manner herein set forth and shall afford Landlord a reasonable opportunity to cure any such default (which shall not be less than 30 days). Notice to Landlord of any such alleged failure default shall be ineffective unless such notice is simultaneously delivered to performany Mortgagee. Tenant agrees to give all Mortgagees, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice any notice of Default to any and all mortgage holdersdefault served upon Landlord, provided that prior to such notice Tenant has been previously advised notified in writing (by way of notice of assignment of rents and Leases, or otherwise), of the addresses) address of such mortgage holder(s)Mortgagees. Tenant further agrees that if Landlord shall have a thirty (30) day period after receipt of failed to cure such default within the Notice of Default time provided for in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) Mortgagees shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, 30 days within which to cure such default ordefault, or if such default cannot be cured within that time, then such additional time as may be necessary so long if, within such 30 days, any Mortgagee has commenced and is diligently pursuing the remedies necessary to cure such default (including commencement of foreclosure proceedings if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being diligently pursued. In no event will Landlord or any Mortgagee be responsible for any consequential damages incurred by Tenant as their efforts are diligent and continuousa result of any default, including, but not limited to lost profits or interruption of business as a result of any alleged default by Landlord hereunder.
Appears in 2 contracts
Samples: Lease Agreement (Smart Move, Inc.), Lease Agreement (Texas Rare Earth Resources Corp.)
Landlord’s Default. If Tenant asserts that Landlord has failed shall violate, neglect or fail to meet perform or observe any of the representations, covenants, provisions, or conditions contained in this Lease on its obligations under this Leasepart to be performed or observed, Tenant shall provide which default continues for a period of more than thirty (30) days after receipt of written notice from Tenant specifying such default (“Notice provided, however, such period shall be limited to two (2) business days with respect to a default under Section 31.17(g)), or if such default is of Default”a nature to require more than thirty (30) days for remedy and continues beyond the time reasonably necessary to cure (provided Landlord specifying must have undertaken procedures to cure the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of default within such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt and thereafter diligently pursues such efforts to cure to completion, provided that Landlord shall not have such additional period to cure with respect to default under Section 31.17(g)), Tenant, at its option (in addition to all other rights and remedies provided Tenant at law, in equity or hereunder), upon further written notice to Landlord of the Notice of Default in Tenant’s intention to exercise any remedy hereunder, which shall provide Landlord with an additional ten (10) days cure period thereafter (provided that Landlord shall not have such additional period to commence curing any non-performance by cure with respect to default under Section 31.17(g)), may either terminate this Lease upon written notice thereof given to Landlord, or incur any reasonable expense necessary to perform the obligation of Landlord specified in such notice and xxxx Landlord shall have as much time thereafter for the costs thereof. If Landlord fails to complete reimburse Tenant for such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure reasonable costs within thirty (30) days of after Landlord’s receipt of such xxxx, Tenant may deduct such costs from the Notice next due installments of DefaultMonthly Base Rent, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from until such costs are recouped by Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuous.
Appears in 2 contracts
Samples: Master Lease (Spirit Finance Corp), Master Lease (Spirit Finance Corp)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet In the event of any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance default by Landlord, Tenant (except in the event of emergencies) will give Landlord written notice specifying such default with particularity, and Landlord (except in the event of emergencies) shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Defaultthereafter, or such longer period as may be required in the exercise of due diligence, but in no event more than sixty (60) days following such notice to Landlord, in which to cure such default. Provided that Landlord does not thereafter diligently furnishes Tenant with the name and continuously attempt address of any mortgagee of Landlord, Tenant shall give notice to cureany mortgagee of Landlord of any claimed default hereunder, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) and Landlord’s mortgagee shall have an additional thirty (30) daysdays over and above the thirty (30) days given to Landlord in which to cure such default, and a cure by Landlord’s mortgagee shall be deemed a cure by Landlord hereunder. Notwithstanding anything herein to the contrary, in the event Landlord shall fail to pay any sums due hereunder to Tenant, and such failure shall continue for a period of thirty (30) days (or such longer period permitted herein) after receipt by Landlord of a second written notice from Tenant, within which or shall fail to perform any of Landlord’s obligations set forth in Article IV hereof, then Tenant may, in addition to any other rights set out in this Lease, (a) cure such default or, if or breach of Landlord hereunder and any sums expended by Tenant in curing such default canor breach shall be paid by Landlord to Tenant immediately upon demand, and shall bear interest at twelve percent (12%) per annum, not be cured within that timeto exceed the maximum rate allowed by law, then such additional time as may be necessary so long as their efforts are diligent and continuousor (b) elect to bring suit to recover from Landlord the sums due from Landlord to Tenant.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Landrys Restaurants Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, default provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have commenced a thirty (30) cure within such thirty-day period after receipt Tenant’s notice and Landlord is diligently pursuing such cure to completion. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of the Notice of Default in which to commence curing business or any non-performance other indirect, special or consequential damages suffered by Landlord, and Tenant from whatever cause. Tenant further agrees that if Landlord shall have as much time thereafter failed to complete cure any such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary so long as their efforts are diligent to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). If, Tenant shall commence an action or proceeding against Landlord to enforce an obligation of Landlord under this Lease and continuousTenant shall obtain a final non-appealable judgment against Landlord in such proceeding after all appeals, Tenant shall be entitled to receive, in addition to any damages or other relief awarded, reasonable attorneys fees and court costs.
Appears in 2 contracts
Samples: Lease Agreement (Leap Therapeutics, Inc.), Lease Agreement (Leap Therapeutics, Inc.)
Landlord’s Default. If Landlord shall not be in default unless Landlord fails to perform obligations required of Landlord within a reasonable time, but in no event later than thirty (30) days after written notice by Tenant asserts that to Landlord and to the holder of any first mortgage or deed of trust covering the Demised Premises whose name and address shall have theretofore been furnished to Tenant in writing, specifying wherein Landlord has failed to meet any perform such obligation; provided, however, that if the nature of its obligations under this LeaseLandlord's obligation is such that more than thirty (30) days are required for performance, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). then Landlord shall have not be deemed in default if Landlord commences performance within a thirty (30) day period after receipt and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of the Notice of Default in which to commence curing any non-performance by Landlord's default, and Tenant's remedies shall be limited to damages and/or an injunction. Whenever Tenant is required to serve notice on Landlord of Landlord's default, written notice shall also be served at the same time upon the mortgagee under any mortgage or beneficiary under any deed of trust. Such mortgagee or beneficiary shall have as much the periods of time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure Landlord' defaults as are provided in this Section 33.17, which periods shall commence to run ten (10) days after the commencement of the periods within which Landlord must cure its defaults under this Section 33.17. In this connection, any representative of the mortgagee or beneficiary shall have the right to enter upon the Demised Premises for the purpose of curing the Landlord's default. Such mortgagee or beneficiary shall notify Landlord and Tenant in the manner provided by Section 33.24 of the address of such default ormortgagee or beneficiary to which such notice shall be sent, if and the agreements of Tenant hereunder are subject to prior receipt of such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousnotice.
Appears in 2 contracts
Samples: Property Lease, Lease Agreement (Stellar Biotechnologies, Inc.)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet defaults in the performance of any of its obligations under this Lease, Tenant will notify Landlord of the default and Landlord will have 30 days after receiving such notice to cure the default. If Landlord is not reasonably able to cure the default within a 30 day period, Landlord will have an additional reasonable period of time to cure the default as long as Landlord promptly commences the cure and thereafter diligently pursues the cure to completion. In no event shall provide Landlord be liable to Tenant or any other person for consequential, special or punitive damages (including without limitation lost profits). If Landlord has not commenced repair or maintenance required to be performed by Landlord hereunder within 30 days after written notice (“Notice of Default”) to Landlord specifying the alleged failure to performthereof from Tenant, and then Tenant shall send by certified mailhave the right, return receipt requestedbut not the obligation, a copy of to make such Notice of Default to any repairs and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period reimburse Tenant for the reasonable and actual cost thereof within 30 days after receipt of a xxxx therefore from Tenant. In the Notice event of Default in an emergency, Tenant may (but shall not be obligated to) perform such repairs which to commence curing any non-performance by would otherwise be Landlord’s obligation hereunder which may be reasonably necessary, after having given Landlord such notice, if any, as may be practicable under the circumstances, and Landlord shall have as much time thereafter promptly reimburse Tenant for any reasonable third-party costs and expenses actually incurred by Tenant in performing such repairs. Notwithstanding anything to complete such cure as is necessary so long as the contrary set forth hereinabove, Tenant shall not be required to perform any repairs which would otherwise be Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousobligation hereunder.
Appears in 2 contracts
Samples: Lease Agreement (G Iii Apparel Group LTD /De/), Lease Agreement (G Iii Apparel Group LTD /De/)
Landlord’s Default. If Tenant asserts that Landlord has failed shall fail to meet perform any of its obligations term or provision under this LeaseLease required to be performed by Landlord, Tenant Landlord shall provide not be deemed to be in default hereunder nor subject to any claims for damages of any kind, unless such failure shall have continued for a period of thirty (30) days after written notice thereof by Tenant; provided, if the nature of Landlord’s failure is such that more than thirty (“Notice of Default”30) days are reasonably required in order to Landlord specifying the alleged failure to performcure, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a not be in default if Landlord commences to cure such failure within such thirty (30) day period, and thereafter reasonably seeks to cure such failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period after receipt of time during which Landlord is delayed in, or prevented from, curing due to fire or other casualty, strikes, lock-outs or other labor troubles, shortages of equipment or materials, governmental requirements, power shortages or outages, acts or omissions by Tenant or other Persons, and other causes beyond Landlord’s reasonable control. If Landlord shall fail to cure within the Notice times permitted for cure herein, Landlord shall be subject to such remedies as may be available to Tenant under applicable Laws (subject to the other provisions of Default this Lease); provided, in which recognition that Landlord must receive timely payments of Rent and operate the Property, Tenant shall have no right of self-help to commence curing perform repairs or any non-performance by other obligation of Landlord, and Landlord shall have as much time thereafter no right to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Defaultwithhold, set-off, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousaxxxx Rent.
Appears in 2 contracts
Samples: Lease Agreement (Ulta Salon, Cosmetics & Fragrance, Inc.), Lease Agreement (Ulta Salon, Cosmetics & Fragrance, Inc.)
Landlord’s Default. If Tenant asserts that Should Landlord has failed to meet breach any of its duties or obligations to Tenant and, in the case of a monetary default, the breach continues for five (5) business days after written notice is given to Landlord, or in the case of a non-monetary default, the breach continues for ten (10) days (or such longer period of time as it may reasonably take to cure provided Landlord promptly and diligently pursues the cure and is not otherwise in default) after written notice of the breach is given to Landlord, Tenant may take such action as is reasonably necessary to cure the breach. In this event, Landlord shall, upon demand (accompanied by reasonable documentation supporting the demand) reimburse the Tenant for expenses reasonably incurred by Tenant in curing Landlord’s breach, including legal expenses and reasonable attorney fees. If Landlord shall fail to promptly reimburse Tenant, Tenant may withhold or xxxxx its rental payment due to the extent of the unreimbursed expenses. In the event of any dispute about Tenant’s right to xxxxx or withhold Rent or other sums payable to Landlord under this LeaseSection, Tenant must deposit the disputed amounts in escrow in an interest-bearing account with a national bank in Raleigh, North Carolina, conditioned on resolution of the dispute by a final, nonappealable court order or by mutual written agreement of Landlord and Tenant. Any interest earned shall provide written notice (“Notice be paid to the party entitled to the escrowed funds and any fees of Default”) the escrow agent shall be paid by the party not entitled to Landlord specifying the alleged failure to performescrowed funds. Regardless of the outcome or resolution of the dispute, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice no Event of Default with respect to any and all mortgage holders, provided that Tenant has been previously advised the subject matter of the addresses) of such mortgage holder(s). Landlord dispute shall be deemed to have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary occurred so long as Landlord’s cure efforts the disputed amounts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be deposited in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from escrow by Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuous.
Appears in 2 contracts
Samples: Lease Agreement (Liquidia Technologies Inc), Lease Agreement (Liquidia Technologies Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to the Ground Lease Landlord and to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) addresses of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. However, if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the any mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuous.
Appears in 2 contracts
Samples: Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Holdings, Inc.)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any The occurrence of its obligations the following constitutes a “Landlord’s Default” under this Lease, : Landlord’s failure to perform any obligation required to be performed by Landlord hereunder after (a) Tenant shall provide gives written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default failure, (b) Landlord fails to any commence and all mortgage holders, provided that Tenant has been previously advised of diligently prosecute the addresses) cure of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure failure within thirty (30) days (or three (3) days in the event of receipt a failure threatening the health or safety of the Notice occupants of Defaultthe Building) of such notice, (c) Tenant gives a second written notice to Landlord of such failure and (d) Landlord fails to commence and diligently prosecute the cure of such failure within ten (10) days (or Landlord does not thereafter diligently and continuously attempt three (3) days in the event of a failure threatening the health or safety of the occupants of the Building) of such second notice; provided, that if the nature of Landlord’s obligation is such that more than the designated time to cure such failure is required to effect such cure, then Landlord shall not be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent Landlord is diligently pursuing such cure to completion. In the event of a Landlord’s Default, Tenant’s sole remedy shall be an action for damages or injunctive relief and continuousthe right to cure Landlord’s default at Tenant’s expense and set off against Rent coming due, subject to this Section 19; provided, however, that Tenant shall have no right to terminate or rescind this Lease upon the occurrence of a Landlord’s Default.
Appears in 2 contracts
Samples: Retail Lease Agreement (Slack Technologies, Inc.), Retail Lease Agreement (Slack Technologies, Inc.)
Landlord’s Default. If Tenant asserts that Landlord has failed Landlord's failure to meet perform or observe any of its Lease obligations under this Leaseafter a period of thirty (30) business days or the additional time, if any, that is reasonably necessary to promptly and diligently cure the failure after receiving notice from Tenant is a default. The notice shall give in reasonable detail the nature and extent of the failure. After Tenant receives notice of a mortgagee's name and address and request for notice upon Landlord's default, Tenant shall provide written the notice (“Notice of Default”) required by this paragraph to the mortgagee at the same time Tenant gives notice to Landlord. If Landlord specifying the alleged failure commits a default and fails to perform, and Tenant shall send by certified mail, return receipt requested, a copy of cure such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure default within thirty (30) business days of receipt after notice from Tenant (or the additional time, if any, that is reasonably necessary to promptly and diligently cure the failure after receiving notice from Tenant is a default), Tenant may pursue any remedies given in this Lease or under the law, including, without limitation, the right to cure such default, and the reasonable costs thereof together with Default Interest, as defined in Section 22.3, at Tenant's election, may be taken as a credit against twenty-five percent (25%) of the Notice installment(s) of DefaultBase Rent next due hereunder or may be billed to Landlord, or Landlord does not thereafter diligently and continuously attempt to cure, then in which case Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional reimburse Tenant within thirty (30) daysbusiness days after the date of such xxxx. In the event there is not sufficient time remaining under the Lease Term, after receipt Tenant may take credit above twenty-five percent (25%) if necessary to reimburse prior to the end of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuous.the Term,
Appears in 2 contracts
Samples: Industrial Building Lease (Griffin Capital Essential Asset REIT II, Inc.), Industrial Building Lease (Griffin Capital Essential Asset REIT II, Inc.)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed in breach or “Default” of this Lease unless Landlord fails within a reasonable time to meet any perform an obligation required to be performed by Landlord hereunder. For purposes of its obligations under this Lease, Tenant shall provide written notice provision (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requestedexcept as otherwise set forth below), a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord reasonable time shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within be less than thirty (30) days after receipt by Landlord of receipt written notice specifying the nature of the Notice obligation Landlord has not performed; provided, however, that if the nature of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord Landlord’s obligation is in default under this Lease, then the mortgage holder(s) shall have an additional such that more than thirty (30) days, after receipt of a second written notice from Tenantnotice, is reasonably necessary for its performance, then Landlord shall not be in breach or default of this Lease if performance of such obligation is commenced within which such thirty (30) day period and thereafter diligently pursued to completion. If Landlord has not commenced to cure the same within said thirty (30) day period or any other mutually agreed period and thereafter diligently prosecutes the same to completion and Landlord shall not thereafter cure such default. Tenant shall be entitled, in addition to all remedies otherwise available in law or equity under the laws of the United States and/or North Carolina, to (a) cure such default orand/or deduct all such amounts from Rent, if such default cannot be cured within that time, then such additional time as (b) bring suit for the collection of any amounts for which Landlord may be in default, or for the performance of any other covenant or agreement devolving upon Landlord, without terminating this Lease and/or (c) in an emergency, cure any such breach or failure prior to the expiration of the notice period if reasonably necessary so long as their efforts are diligent to protect the Premises and/or parking for or access to the Premises, to prevent injury or damage to persons or property, or in the event of any other emergency and continuousdeduct all such amounts from rent.
Appears in 2 contracts
Samples: Lease Agreement (Catalytica Energy Systems Inc), Lease Agreement (Renegy Holdings, Inc.)
Landlord’s Default. If Landlord shall in no event be in default in the performance of any of Landlord’s obligations under this Lease unless and until Landlord shall have failed to perform such obligation within thirty (30) days after notice by Tenant asserts that to Landlord (“Tenant’s Default Notice”) specifying the manner in which Landlord has failed to meet perform any of its obligations under this Lease, Tenant shall provide written notice such obligation (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that if correction of any such matter reasonably requires longer than thirty (30) days and Landlord so notifies Tenant has been previously advised of the addresseswithin thirty (30) of days after such mortgage holder(s). Tenant’s Default Notice is given, Landlord shall have a be allowed such longer period, but only if cure is begun within such thirty (30) day period after receipt and thereafter diligently prosecuted to completion). In the event of any default by Landlord hereunder, Tenant shall have no right to perform such Landlord obligation and recover from Landlord any costs so incurred, or to xxxxx or withhold Rent, but Tenant shall have the Notice right, in the event of Default in which a default by Landlord hereunder, to commence curing any non-performance by and to prosecute an independent proceeding against Landlord for the recovery of damages or for equitable relief. This Lease shall be construed as though Landlord’s and Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary. In no event shall Landlord shall have as much time thereafter ever be liable to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of DefaultTenant for any indirect, special, consequential, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuouspunitive damages.
Appears in 2 contracts
Samples: Lease Agreement (Vigil Neuroscience, Inc.), Lease Agreement (Vigil Neuroscience, Inc.)
Landlord’s Default. If Landlord shall not be deemed to be in default in the performance of any of its obligations hereunder unless it shall fail to perform such obligations and such failure shall continue for a period of 30 days following receipt of notice from Tenant asserts or such additional time as is reasonably required to correct any such default after notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged default. Landlord shall not be liable in any event for incidental or consequential damages to Tenant by reason of any default by Landlord hereunder, whether or not Landlord is notified that such damages may occur. Tenant shall have no right to terminate this Lease for any default by Landlord hereunder and no right, for any such default, to offset or counterclaim against any rent due hereunder except as specifically provided in this section. If, after notice of default duly given in accordance with this section, Landlord has failed to meet any of its obligations under this Leasecure the alleged default within 30 days or such longer notice as is reasonably necessary to cure the same, Tenant may, but shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of not be required perform such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure action as is reasonably necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default. Landlord agrees to pay on demand Tenant's expenses, including reasonable attorneys' fees, incurred in curing any default orby Landlord pursuant to Section 5.1.9 In the event Landlord fails to pay the same and Tenant obtains a final judgment for the same in from a court of competent jurisdiction from which all appeal periods have expired without appeal having been taken, if the amount due under such default cannot be cured within that time, then such additional time as judgment may be necessary offset the amount due under such judgment from the next succeeding payment(s) of Fixed Rent and Additional Rent due hereunder until the full amount of such judgment has been so long as their efforts are diligent and continuousapplied or otherwise reimbursed to Tenant.
Appears in 1 contract
Samples: Net Lease (Millipore Corp /Ma)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged failure breach or default. Tenant shall have no right to performterminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant, and Tenant shall send hereby waives any claim against Landlord, for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary so long as their efforts are diligent and continuousto cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).
Appears in 1 contract
Samples: Lease (Prometheus Biosciences, Inc.)
Landlord’s Default. If Tenant asserts that Landlord has failed shall violate, neglect or fail to meet perform or observe any of the representations, covenants, provisions, or conditions contained in this Lease on its obligations under this Leasepart to be performed or observed, Tenant shall provide which default continues for a period of more than thirty (30) days after receipt of written notice from Tenant specifying such default (“Notice provided, however, such period shall be limited to two (2) business days with respect to a default under Section 31.17(c)), or if such default is of Default”a nature to require more than thirty (30) days for remedy and continues beyond the time reasonably necessary to cure (provided Landlord specifying must have undertaken procedures to cure the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of default within such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt and thereafter diligently pursues such efforts to cure to completion, provided that Landlord shall not have such additional period to cure with respect to default under Section 31.17(c)), Tenant, at its option (in addition to all other rights and remedies provided Tenant at law, in equity or hereunder), upon further written notice to Landlord of the Notice of Default in Tenant’s intention to exercise any remedy hereunder, which shall provide Landlord with an additional ten (10) days cure period thereafter (provided that Landlord shall not have such additional period to commence curing any non-performance by cure with respect to default under Section 31.17(c)), may either terminate this Lease upon written PHIL1 681004v.14 notice thereof given to Landlord, or incur any reasonable expense necessary to perform the obligation of Landlord specified in such notice and xxxx Landlord shall have as much time thereafter for the costs thereof. If Landlord fails to complete reimburse Tenant for such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure reasonable costs within thirty (30) days of after Landlord’s receipt of such xxxx, Tenant may deduct such costs from the Notice next due installments of DefaultMonthly Base Rent, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from until such costs are recouped by Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuous.
Appears in 1 contract
Landlord’s Default. If Prior to pursuing any remedy available to Tenant asserts that Landlord has failed to meet any of its obligations under this the Lease, Tenant shall provide written notice at law or equity as a result of any failure of Landlord to perform or observe any covenant, condition, provision or obligation to be performed or observed by Landlord under the Lease (any such failure hereinafter referred to as a “Notice of Landlord’s Default”), Tenant shall: (a) to Landlord provide Lender and Owner with a notice of Landlord’s Default specifying the alleged failure to performnature thereof, the Section of the Lease under which same arose and the remedy which Tenant will elect under the terms of the Lease or otherwise, and Tenant shall send by certified mail(b) allow each of Lender and Owner the applicable cure period as provided in the Lease to cure the same, return receipt requestedplus, a copy of such Notice of Default except when necessary to any and all mortgage holdersprevent an immediate threat to life or safety, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days; provided, after receipt of a second written notice from Tenanthowever, within which to cure such default or, that if such default canLandlord’s Default is not be cured readily curable within that timesuch time period, then Tenant shall give Lender or Owner, as applicable, such additional time as Lender or Owner may be necessary reasonably need to obtain possession and control of the Property and to cure such Landlord’s Default so long as their efforts are diligent and continuousLender or Owner, as applicable, is diligently pursuing a cure. Tenant shall not pursue any remedy available to it as a result of any Landlord’s Default unless Lender or Owner, as applicable, fails to cure same within the time periods specified above. For purposes of this Paragraph, a Landlord’s Default shall not be deemed to have occurred until all grace and/or cure periods applicable thereto under the Lease have lapsed without Landlord having effectuated a cure thereof.
Appears in 1 contract
Samples: Lease (Polycom Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Lease if Landlord is fails to perform any of Landlord's obligations hereunder and said failure continues for a period of thirty (30) days after Tenant delivers written notice thereof to Landlord, provided that if such failure cannot reasonably be cured within said 30-day period, Landlord shall not be in default hereunder if the curative action is commenced within said 30-day period and is thereafter diligently pursued until cured. In no event shall (a) Tenant claim a constructive or actual eviction or that the Premises have become unsuitable hereunder, or (b) a constructive or actual eviction or breach of the implied warranty of suitability be deemed to have occurred under this Lease, then prior to the mortgage holder(s) shall have an additional thirty (30) days, after receipt expiration of a second written the notice from Tenant, within which to and cure such default or, if such default cannot be cured within that time, then such additional time periods provided under this Section 13.9. Tenant is granted no contractual right of termination by this Lease except as may be necessary so long as their efforts are diligent expressly set forth herein, and continuousTenant is granted no contractual right of offset or deduction with respect to Tenant except to the extent expressly set forth in this Lease. Moreover, Tenant's remedies for any such default by Landlord shall be limited by the terms of Section 16.4 hereof. In no event shall Landlord be liable for any punitive, incidental, special or consequential damages arising under or in connection with this Lease, even if Tenant or Landlord has been advised of the possibility of such damages, any claims for such damages being hereby knowingly and voluntarily waived and released by Tenant for all purposes under and in connection with this Lease and the Premises.
Appears in 1 contract
Landlord’s Default. If Tenant asserts that agrees to provide written notice to Landlord has failed to meet in the event Landlord breaches any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying hereunder. In the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). event Landlord shall have a fail to cure any such breach within thirty (30) day period days after receipt of written notice from Tenant (or if such breach is not reasonably capable of being cured within thirty (30) days, such additional period as may reasonably be necessary to cure the Notice same with due diligence), then Landlord shall be in default hereunder and Tenant shall be entitled to bring an action for damages or specific performance or other injunctive relief against Landlord. Additionally, (i) in the event any default by Landlord is not cured within the foregoing cure period, or (ii) in the event any emergency repairs to the Premises are needed and Tenant is unable, despite diligent efforts, to contact Landlord by telephone, then, in either of Default in which such events, Tenant shall be entitled to commence curing any non-performance by Landlordtake such action as may be commercially reasonably under the circumstance to correct such uncured default and/or make such repairs as are needed to correct the emergency situation, and Landlord shall have as much time thereafter reimburse Tenant for all costs reasonably incurred in the exercise of such rights, together with interest thereon at the rate set forth in Section 29.B above from the date paid until the date reimbursed, within thirty (30) days after written demand. If Landlord fails to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure reimburse Tenant for all amounts expended by Tenant under this paragraph within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to curedemand, then Tenant may commence an action against Landlord to recover same, but in no event shall Tenant be in default under this Lease. If Landlord is in default under this Lease, then entitled to offset such amounts against the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice Rent due from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousTenant hereunder.
Appears in 1 contract
Landlord’s Default. If Tenant asserts that Landlord has failed to meet defaults in the performance of any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to will notify Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, default and Landlord shall will have as much time thereafter 30 days after receiving such notice to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Leasedefault. If Landlord is in not reasonably able to cure the default under this Leasewithin a 30 day period, then the mortgage holder(s) shall Landlord will have an additional thirty reasonable period of time to cure the default as long as Landlord promptly commences the cure and thereafter diligently and in good faith pursues the cure to completion. In no event shall Landlord be liable to Tenant or any other person for consequential, special or punitive damages (30) daysincluding without limitation lost profits). If Landlord has not commenced repair or maintenance required to be performed by Landlord hereunder within 45 days after written notice thereof from Tenant, then Tenant shall have the right, but not the obligation, to make such repairs and Landlord shall reimburse Tenant for the reasonable and actual cost thereof within 30 days after receipt of a second written notice an invoice from Tenant. In the event of an emergency, within Tenant may (but shall not be obligated to) perform such repairs which to cure would otherwise be Landlord’s obligation hereunder which may be reasonably necessary, after having given Landlord such default ornotice, if such default cannot be cured within that timeany, then such additional time as may be necessary so long as their efforts are diligent and continuouspracticable under the circumstances. Notwithstanding anything to the contrary set forth hereinabove, Tenant shall not be required to perform any repairs which would otherwise be Landlord’s obligation hereunder.
Appears in 1 contract
Samples: Lease Agreement (Datalink Corp)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged failure default. Tenant shall have no right to performterminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant, and Tenant shall send hereby waives any claim against Landlord, for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary so long as their efforts are diligent to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). Where provision is made in this Lease for Landlord’s consent and continuousTenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, Tenant shall not be entitled to any damages and Tenant hereby waives any claim based on such failure, refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be entitled to bring an action for specific performance or injunction.
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Landlord’s Default. If Tenant asserts that Except for a violation by Landlord has failed of express provisions of this Lease which require specific notice provisions which are shorter or longer than thirty (30) days, the occurrence of the following shall constitute a default by Landlord pursuant to meet this Lease: Landlord’s failure to perform any of its obligations under this Lease, Tenant shall provide which default continues for a period of more than thirty (30) days (unless a shorter time is required to protect from danger to persons or property) after receipt of written notice (“Notice of Default”) to Landlord from Tenant specifying such default and the alleged failure to performcorrective action required; however, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period may be extended for such period of time as may be reasonably required to perform the obligation (not to exceed ninety (90) days after Landlord’s receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has notice) provided: (i) such obligation cannot begun the cure be reasonably performed within thirty (30) days of receipt of after such notice; (ii) Landlord commences efforts to cure the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional within thirty (30) days, days after receipt of a second written Tenant’s notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then of default; and (iii) Landlord diligently pursues completion of the obligation; and (iv) such additional time as does not expose Tenant to civil or criminal liability to any third parties. In the event of Landlord’s default, in addition to availing itself of any other remedies available at law and in equity, Tenant may, at its option, upon written notice to Landlord, terminate this Lease, or may be incur any expense necessary so long as their efforts are diligent to perform the obligation of Landlord specified in such notice and continuousdeduct such expense from the Rent, Additional Rent, or other charges coming due.
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Landlord’s Default. If Landlord shall be in default under this Lease upon (a) the failure of Landlord to pay any sum owing by Landlord under this Lease as and when due where such failure continues for ten (10) days after receipt by Landlord of written notice that such payment was not received by Tenant, unless Landlord is disputing in good faith the nature, propriety or amount of such sum, or (b) the failure of Landlord to observe, keep or perform any of the other terms, covenants, agreements or conditions contained in this Lease on the part of Landlord to be observed or performed and such failure continues for a period of thirty (30) days after written notice by Tenant asserts that to Landlord or, if such failure is not reasonably susceptible to cure within thirty (30) days, then within a reasonable period of time so long as Landlord shall have commenced to cure such failure within such thirty (30) day period and shall thereafter diligently pursue such cure to completion. Tenant may not exercise any remedies available to it under this Lease, at law or in equity until Landlord has failed been afforded the cure periods described in this Paragraph 34. Tenant acknowledges that its obligations under this Lease, including its obligations to meet pay Rent, are independent of Landlord's obligations under this Lease. The failure of Landlord to perform Landlord's obligations under this Lease shall not excuse Tenant from performing any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) including Tenant's obligation to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Defaultpay Rent, or Landlord does not thereafter diligently and continuously attempt allow Tenant to cure, then Landlord shall be in default under terminate this Lease. If Landlord is in default under this Lease, then Lease or to vacate the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousPremises.
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Landlord’s Default. If Tenant asserts that Landlord has failed to meet any materially defaults in its performance of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) and fails to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of cure such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure material default within thirty (30) days of receipt of after receiving written notice from Tenant specifying the Notice of Defaultmaterial default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord Tenant's exclusive remedy shall be an action for damages. Additionally, if the Landlord materially defaults in its obligations under paragraph 4 "LANDLORD'S MAINTENANCE" and fails to cure such material default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional within thirty (30) days, days after receipt of a second receiving written notice from TenantTenant specifying the material default, within which Tenant shall have the right to cure such default orand then seek reimbursement from Landlord for any actual, if out-of-pocket expenses incurred to cure such default. In addition, in the event that any default canof this Lease requires more than thirty (30) days to cure by Landlord, Tenant shall not be cured within that time, then such additional time as may be necessary permitted to exercise any of its rights hereunder so long as their efforts are diligent Landlord is using reasonable diligence to cure the specified default. Unless Landlord fails to so cure any default after notice, Tenant shall not have any remedy or cause of action by reason thereof. Notwithstanding any thing herein to the contrary, the liability of Landlord to Tenant for any default by Landlord, shall be limited to actual, direct, but not consequential, damages therefor and continuousshall be recoverable only from the interest of Landlord in the Building and the Land, and neither Landlord nor Landlord's owners shall have any personal liability therefor.
Appears in 1 contract
Samples: Commercial Lease Agreement (At Track Communications Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a period of thirty (30) day period after receipt days from the date of written notice from Tenant of Landlord's default (any such notice, a "Landlord Default Notice") to cure any default by Landlord under this Lease; provided, however, that with respect to any default that cannot reasonably be cured within thirty (30) days, the Notice of Default in which default shall not be deemed to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. be uncured if Landlord has not begun the commences to cure within thirty (30) days of from receipt of the Landlord Default Notice and continues to prosecute diligently the curing thereof. Tenant agrees to give any Mortgagee, by registered or certified mail, a copy of Defaultany Landlord Default Notice served upon the Landlord, or Landlord does not thereafter diligently and continuously attempt provided that prior to cure, then Landlord shall be such notice Tenant has been notified in default under this Leasewriting of the address of such Mortgagee. If Landlord is fails to cure such default within the time provided for in default under this Lease, then the mortgage holder(s) Mortgagee shall have an additional thirty (30) days, days after receipt the expiration of a second written notice from Tenant, such cure period within which to cure such default or(provided that Tenant notifies Mortgagee concurrently with Tenant's delivery of the Landlord Default Notice to Landlord; otherwise, if Mortgagee shall have thirty (30) days from the later of the date on which it receives notice of the default from Tenant and the expiration of Landlord's cure period). If such default cannot be cured by Mortgagee within that timethe cure period, then such additional time as Tenant may be necessary not exercise any of its remedies so long as their efforts are diligent Mortgagee has commenced and continuousis diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure).
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Landlord’s Default. If Tenant asserts that A. In the event Landlord has failed to meet should default in any of its obligations under this Leasehereunder, Tenant shall provide simultaneously give Landlord and Landlord's mortgagee written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, default and Landlord shall thereupon have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days (plus an additional reasonable period as may be required in the exercise by Landlord of receipt of the Notice of Defaultdue diligence) in which to cure any such default. In addition, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) Landlord's mortgagee shall have an additional thirty the right (30but not the obligation) daysto cure or remedy such default during the period that is permitted to Landlord hereunder, after receipt and Tenant will accept such curative or remedial action taken by Landlord's mortgagee with the same effect as if such action had been taken by the Landlord.
B. Upon the failure of a second written notice from Tenant, within which Landlord or Landlord's mortgagee to cure such default orin accordance with the provisions of Paragraph 22A hereof, if Tenant shall be authorized and empowered to pay any such default canitems for and on behalf of Landlord, and the amount of any item so paid by Tenant for and on behalf of Landlord, together with any interest or penalty required to be paid in connection therewith, shall be payable on demand by Landlord to Tenant; provided, however, that Tenant shall not be cured within that timeauthorized and empowered to make any payment under the terms of this Paragraph 22 unless the item paid shall be superior to Tenant's interest hereunder. Tenant's exclusive remedy shall by an action for damages against Landlord, then such additional time as may and Tenant hereby waives the benefit of any laws granting it a lien upon the property of Landlord and/or upon rent due Landlord. In the event Tenant pays any mortgage debt in full, in accordance with this paragraph, it shall, at its election, be necessary so long as their efforts are diligent and continuousentitled to the mortgage security by assignment or subrogation.
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Landlord’s Default. If Tenant asserts that Landlord has failed to meet shall default in the performance or observance of any of its covenants or obligations under set forth in this Lease, Tenant Agreement and such default shall provide written notice (“Notice continue for a period of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day ays after Notice thereof from Tenant to Landlord and any applicable Facility Mortgagee, or such additional period after receipt as may be reasonably required to correct the same, Tenant may declare the occurrence of a "Landlord Default" by a second Notice to Landlord and to such Facility Mortgagee. Thereafter, Tenant may forthwith cure the same and, subject to the provisions of the Notice following paragraph, invoice Landlord for costs and expenses (including reasonable attorneys' fees and court costs) incurred by Tenant in curing the same, together with interest thereon from the date Landlord receives Tenant's invoice, at the Overdue Rate. Tenant shall have no right to terminate this Agreement for any default by Landlord hereunder and no right, for any such default, to offset or counterclaim against any Rent or other charges due hereunder. If Landlord shall in good faith dispute the occurrence of any Landlord Default in which to commence curing any non-performance by and Landlord, before the expiration of the applicable cure period, shall give Notice thereof to Tenant, setting forth, in reasonable detail, the basis therefor, no Landlord Default shall be deemed to have occurred and Landlord shall have as much time thereafter no obligation with respect thereto until final adverse determination thereof. If Tenant and Landlord shall fail, in good faith, to complete resolve any such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure dispute within thirty ten (3010) days of receipt of the after Landlord's Notice of Defaultdispute, or Landlord does not thereafter diligently and continuously attempt either may submit the matter for resolution to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt a court of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuouscompetent jurisdiction.
Appears in 1 contract
Samples: Master Lease Agreement (Magellan Health Services Inc)
Landlord’s Default. If Landlord shall only be deemed to be in default on the terms of this Lease in the event Landlord shall violate, neglect, or fail to observe, keep or perform any covenant or agreement which is not observed, kept, or performed by Landlord within thirty (30) days after the receipt by Landlord of Tenant's written notice of such breach which notice shall specifically set out the breach. Landlord shall not be considered in default so long as Landlord commences to cure the breach in a diligent and prudent manner and is allowed such additional time as reasonably necessary to correct the breach. Notwithstanding any provisions to the contrary contained in this Lease, no personal liability of any kind or character whatsoever shall attach or at any time hereafter attach under any conditions to Landlord or any subsidiary, affiliate or partner of Landlord or their respective officers, directors, shareholders, or employees for payments of any amounts due under this Lease or for the performance of any obligation under this Lease. The exclusive remedy of Tenant asserts that for failure of Landlord has failed to meet perform any of its obligations under this Lease, Tenant Lease shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by be an action for damages against Landlord, it being understood that in no event shall a judgment for any deficiency or monetary claim be sought, obtained or enforced against Landlord or any subsidiary, affiliate or partner of Landlord or their respective officers, directors, shareholders or employees and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord judgment shall be satisfied solely against the interest of Landlord in default under this Leasethe Leased Premises. If In no event shall Landlord is in default under this Leasebe liable for any consequential, then the mortgage holder(s) shall have an additional thirty (30) daysspecial, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuouspunitive or exemplary damages. TENANT HEREBY WAIVES ITS STATUTORY LIEN UNDER SECTION 91.004 OF THE TEXAS PROPERTY CODE.
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Landlord’s Default. If Tenant asserts that Landlord has failed shall fail to meet perform any of its obligations term or provision under this LeaseLease required to be performed by Landlord, Tenant Landlord shall provide written notice (“Notice of Default”) not be deemed to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default be in default hereunder nor subject to any and all mortgage holdersclaims for damages of any kind, provided unless such failure shall have continued for a period of thirty (30) days after Notice thereof by Xxxxxx (or, if such failure relates to a monetary obligation of Landlord, then five (5) Business Days after Notice thereof by Tenant); provided, if the nature of Landlord’s failure is such that Tenant has been previously advised of the addressesmore than thirty (30) of such mortgage holder(s). days are reasonably required in order to cure, Landlord shall have a not be in default if Landlord commences to cure such failure within such thirty (30) day period, and thereafter reasonably seeks to cure such failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period after receipt of time during which Landlord is delayed in, or prevented from, curing due to Force Majeure Delays. If Landlord shall fail to cure within the Notice times permitted for cure herein, Landlord shall be subject to such remedies as may be available to Tenant (subject to the other provisions of Default this Lease); provided Tenant shall have no right to terminate this Lease and, in which recognition that Landlord must receive timely payments of Rent and operate the Project, Tenant shall have no right of self-help to commence curing perform repairs or any non-performance by other obligation of Landlord, and Landlord shall have as much time thereafter no right to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Defaultwithhold, set-off, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousxxxxx Rent.
Appears in 1 contract
Samples: Office Lease (Sezzle Inc.)
Landlord’s Default. If Tenant asserts that Should Landlord has failed to meet breach any of its duties or obligations under this Leaseto Tenant and, Tenant shall provide in the case of a monetary default, the breach continues for five (5) business days after written notice (“Notice is given to Landlord, or in the case of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlordmonetary default, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within breach continues for thirty (30) days (or such longer period of receipt time as it may reasonably take to cure provided Landlord promptly and diligently pursues the cure and is not otherwise in default) after written notice of the Notice of Defaultbreach is given to Landlord, or Tenant may take such action as is reasonably necessary to cure the breach. In this event, Landlord does not thereafter diligently shall, upon demand (accompanied by reasonable documentation supporting the demand) reimburse the Tenant for expenses reasonably incurred by Tenant in curing Landlord’s breach, including legal expenses and continuously attempt to cure, then Landlord shall be in default under this Leasereasonable attorney fees. If Landlord is in default shall fail to promptly reimburse Tenant, Tenant may withhold or axxxx its rental payment due to the extent of the unreimbursed expenses. In the event of any dispute about Tenant’s right to axxxx or withhold rent or other sums payable to Landlord under this LeaseSection, then Tenant must deposit the mortgage holder(s) disputed amounts in escrow in an interest-bearing account with a national bank in Raleigh, North Carolina, conditioned on resolution of the dispute by a final, nonappealable court order or by mutual written agreement of Landlord and Tenant. Any interest earned shall be paid to the party entitled to the escrowed funds and any fees of the escrow agent shall be paid by the party not entitled to the escrowed funds. Regardless of the outcome or resolution of the dispute, no Event of Default with respect to the subject matter of the dispute shall be deemed to have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary occurred so long as their efforts the disputed amounts are diligent and continuousdeposited in escrow by Tenant.
Appears in 1 contract
Samples: Sublease Agreement (Larscom Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty not be deemed in default under the terms of this Lease unless (30i) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have fail to pay any amount payable hereunder when and as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent sum becomes due and continuous. if Landlord has not begun the cure within payable and such failure shall continue for more than thirty (30) days of receipt of the Notice of Default, after written notice thereof from Tenant or Landlord does not thereafter diligently and continuously attempt to cure, then (ii) Landlord shall be in default fail to perform its obligations under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional Lease for more than thirty (30) days, days after receipt of a second written notice from Tenantof such default shall have been received by Landlord (except in the event of an Emergency, within in which case no notice or cure period shall be required), provided that if the curing of such default reasonably requires in excess of thirty (30) days (except in the case of an Emergency), Landlord shall not be deemed in default hereunder if it shall commence to cure such default orwithin such thirty ( 30) day period and thereafter diligently prosecutes such cure, then Tenant shall have its rights and remedies provided at law and in equity and pursuant to the provisions of this Lease. In addition and notwithstanding the foregoing or anything else to the contrary contained in this Lease, if any such default canmaterially and adversely affects Tenant's use of the Demised Premises then, Tenant shall have the right but not the obligation to cure or correct said default provided Tenant shall give Landlord five (5) days' prior written notice of its intention to cure or correct the Landlord default (and for defaults for which Landlord is provided a five (5) day cure period, Landlord has failed to cure said default within such five ( 5) day cure period) except in an Emergency when only reasonable notice will be cured within that timeprovided. In connection with the exercise of its rights under this Section, then such additional time as Tenant shall use reasonable efforts not to materially and adversely affect other tenants' occupancy of the Building and Tenant may be necessary so long as their efforts are diligent and continuousonly engage the Contractors to perform any work involving the Critical Building Systems.
Appears in 1 contract
Samples: Lease (Covisint Corp)
Landlord’s Default. If Tenant asserts that Landlord has failed shall fail to meet observe, perform or comply with any of its duties and obligations under as set forth in this LeaseLease for a period of thirty (30) days after notice thereof from Tenant to Landlord, or if such failure is of such a nature that it cannot be completely remedied within said period of thirty (30) days, if Landlord shall not (x) promptly upon the giving by Tenant of such notice, advise Tenant of Landlord’s intention to institute reasonable steps necessary to remedy such failure, (y) promptly institute and thereafter diligently prosecute to completion reasonable steps necessary to remedy same, and (z) complete such remedy within a reasonable time after the date of the giving of said notice by Tenant, Tenant shall provide written notice (“Notice may at any time thereafter cure such breach or failure, but only if such breach or failure is creating a material impairment to the operation of Default”) to Landlord specifying Tenant’s business at the alleged failure to performPremises, and Tenant shall send by certified mail, return receipt requested, a copy for the account of such Notice of Default to any and all mortgage holdersLandlord, provided that Tenant has been previously advised may cure any such breach or failure as aforesaid prior to the expiration of said waiting period, without notice to Landlord if an emergency situation exists, or after notice to Landlord, but solely if the addresses) curing of such mortgage holder(s)breach or failure prior to the expiration of said waiting period is necessary to protect the Premises or Tenant’s interest therein or to prevent injury to persons or material damage to property. Landlord shall have a thirty (30) day period after receipt of reimburse Tenant for the Notice of Default in which to commence curing any non-performance amounts reasonably and properly incurred by Landlord, and Landlord shall have Tenant as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure aforesaid within thirty (30) days of receipt Tenant’s written demand therefor. In no event whatsoever, however, shall Tenant have a right to terminate this Lease by reason of Landlord’s default, nor shall Landlord be liable to Tenant for any consequential, incidental or punitive damages in connection with or as a result of any default by Landlord hereunder. For the Notice purposes of Defaultthis Section, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord lost sales and/or profit shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which deemed to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousconsequential damages.
Appears in 1 contract
Samples: Lease Agreement (Pdi Inc)
Landlord’s Default. If In the event of any act or omission of Landlord constituting a default by Landlord, other than Landlord's failure to have the Improvements substantially completed on a timely basis as provided in Article 11 and to make the same fully available to Tenant asserts that Landlord has failed to meet any of its obligations under this Leaseas therein provided, Tenant shall provide not exercise any remedy until Tenant has given Landlord and any mortgagee whose name and address have been previously provided to Tenant prior written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice act or omission and until a 30-day period of Default time to any and all mortgage holders, provided that Tenant has been previously advised of allow Landlord or the addresses) mortgagee to remedy such act or omission shall have elapsed following the giving of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlordnotice; provided, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default orhowever, if such default act or omission cannot with due diligence and in good faith be cured remedied within that timesuch 30-day period, then Landlord and/or mortgagee shall be allowed such additional further period of time as may be reasonably necessary so long provided that it shall have commenced remedying the same with due diligence and in good faith within said 30-day period. In the event any act or omission of Landlord which constitutes a Landlord's default hereunder results in an immediate threat of bodily harm to Tenant's employees, agents or invitees or damage to Tenant's property, or exposes Tenant to criminal liability, Tenant may proceed to cure the default without prior notice to Landlord or its mortgagee and offset the cost thereof against Base Rent next due and payable; provided, however, in that event Tenant shall give written notice to Landlord and its mortgagee as their efforts are diligent and continuoussoon as possible after commencement of such cure. Nothing herein contained shall be construed or interpreted as requiring any mortgagee to remedy such act or omission.
Appears in 1 contract
Samples: Lease (Radyne Corp)
Landlord’s Default. If Tenant asserts that Landlord has failed shall violate, neglect or fail to meet perform or observe any of the representations, covenants, provisions, or conditions contained in this Lease on its obligations under this Leasepart to be performed or observed, Tenant shall provide which default continues for a period of more than thirty (30) days after receipt of written notice from Tenant specifying such default (“Notice provided, however, such period shall be limited to two (2) business days with respect to a default under Section 31.17(g)), or if such default is of Default”a nature to require more than thirty (30) days for remedy and continues beyond the time reasonably necessary to cure (provided Landlord specifying must have undertaken procedures to cure the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of default within such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt and thereafter diligently pursues such efforts to cure to completion, provided, that Landlord shall not have such additional period to cure with respect to a default under Section 31.17(g)), Tenant, at its option (in addition to all other rights and remedies provided Tenant at law, in equity or hereunder), upon further written notice to Landlord of the Notice of Default in Tenant’s intention to exercise any remedy hereunder, which shall provide Landlord with an additional ten (10) days cure period thereafter (provided that Landlord shall not have such additional period to commence curing any non-performance by cure with respect to a default under Section 31.17(g)), may either terminate this Lease upon written notice thereof given to Landlord, or incur any reasonable expense necessary to perform the obligation of Landlord specified in such notice and xxxx Xxxxxxxx for the costs thereof. If Landlord shall have as much time thereafter fails to complete reimburse Tenant for such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure reasonable costs within thirty (30) days of after Xxxxxxxx’s receipt of such bill, Tenant may deduct such costs from the Notice next due installments of DefaultMonthly Base Rent, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure until such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts costs are diligent and continuousrecouped by Xxxxxx.
Appears in 1 contract
Samples: Master Lease (Spirit Finance Corp)
Landlord’s Default. If Landlord shall in no event be in default in the performance of any of Landlord’s obligations hereunder unless and until Landlord shall have failed to perform such obligations within 30 days, or such additional time as is reasonably required to correct any such default after notice by Tenant asserts that to Landlord properly specifying wherein Landlord has failed to meet perform any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holdersobligation, provided that Tenant has been previously advised of the addresses) of Landlord commences such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt such notice, except in the event of an emergency situation, whereby Landlord should proceed to cure immediately upon Tenant’s notice thereof. It is the express understanding and agreement of the Notice parties and a condition of DefaultLandlord’s agreement to execute this Lease that in no event shall Tenant have the right to terminate this Lease or seek an abatement to or offset from Base Rent or other Rent as a result of Landlord’s default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord but Tenant shall be in entitled to seek all other remedies, at law or equity, as a result of such default. Tenant hereby waives its right to recover punitive or consequential damages arising out of any act, omission or default under this Leaseby Landlord. If This Lease and the obligations of Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default ordoing so, if such default cannot inability or delay is caused by reason of a Force Majeure Event (as defined below), and the time for Landlord’s performance shall be cured within that timeextended for the period of any such delay. As used herein, then a “Force Majeure Event” shall be any delay caused by or resulting from acts of God, war, civil commotion, fire, flood or other casualty, labor difficulties, shortages of or inability to obtain labor, materials or equipment, governmental regulations, unusually severe weather, or other causes beyond such additional time as may be necessary so long as their efforts are diligent and continuousparty’s reasonable control (other than lack of funds).
Appears in 1 contract
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this Lease, Tenant Lease unless it shall provide written notice (“Notice fail to perform such obligation(s) and such failure shall continue for a period of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord’s alleged breach or default. Upon a Landlord default, Tenant may pursue whatever remedies it has at law or in equity or under the terms of this Lease (including, without limitation, Tenant’s rights pursuant to Section 5.2 of this Lease). Landlord’s failure to perform any of its obligations hereunder shall not be necessary so long as their efforts are diligent deemed an eviction of Tenant (constructive or actual), and continuousTenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Where provision is made in this Lease for Landlord’s consent and Tenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, Tenant shall not be entitled to any damages for any withholding by Landlord of its consent, it being intended that Tenant’s sole remedy shall be an action for specific performance or injunction, and that such remedy shall be available only in those cases where Landlord is expressly required not to withhold its consent unreasonably.
Appears in 1 contract
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged failure to perform, and breach or default. Tenant shall send have no right to terminate this Lease for any breach or default by certified mailLandlord hereunder and no right, return receipt requestedfor any such breach or default, a copy to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of such Notice of Default to business or any and all mortgage holdersother indirect, provided special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary so long as their efforts are diligent to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). GSDOCS\2096218.11 Where provision is made in this Lease for Landlord’s consent and continuousTenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, Tenant shall not be entitled to any damages and Tenant hereby waives any claim based on such failure, refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be entitled to bring an action for specific performance or injunction.
Appears in 1 contract
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged failure to perform, and breach or default. Tenant shall send have no right to terminate this Lease for any breach or default by certified mailLandlord hereunder and no right, return receipt requestedfor any such breach or default, a copy to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of such Notice of Default to business or any and all mortgage holdersother indirect, provided special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary so long as their efforts are diligent to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). Where provision is made in this Lease for Landlord’s consent and continuousTenant shall request such consent and Landlord shall fail or refuse to give such consent, Tenant shall not be entitled to any damages for any withholding by Landlord of its consent, it being intended that Tenant’s sole remedy shall be an action for specific performance or injunction, and that such remedy shall be available only in those cases where Landlord is expressly required not to withhold its consent unreasonably.
Appears in 1 contract
Samples: Lease (Cuisine Solutions Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) Days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged failure breach or default. In no event shall Landlord ever be liable to performTenant for any punitive damages or for any loss of business or any other indirect, and special or consequential damages suffered by Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days Days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then Landlord shall have such additional time as may be necessary to cure such default if within said thirty (30) Days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default, not to exceed an additional ninety (90) Days in default under this Leasethe aggregate). If Landlord is in default under this Lease, then the mortgage holder(s) Any holder of a Fee Mortgage shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, Days within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) Days any such holder or lessor has commenced and is diligently pursuing the remedies necessary so long as their efforts are diligent to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). Where provision is made in this Lease for Landlord’s consent and continuousTenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, Tenant shall not be entitled to any damages and Tenant hereby waives any claim based on such failure, refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be entitled to bring an action for specific performance or injunction and Tenant shall be entitled to recover from Landlord all costs including reasonable attorney’s fees incurred in brining such action.
Appears in 1 contract
Landlord’s Default. If Tenant asserts that In the event of any act or omission of Landlord has failed to meet any of its obligations under this Leaseconstituting a default by Landlord, Tenant shall provide not exercise any remedy until Tenant has given Landlord and the holder of any Mortgage (as provided for in Section 16.1) prior written notice of such act or omission and until a thirty (“Notice 30)-day period of Default”) time to allow Landlord or the mortgagee to remedy such act or omission shall have elapsed following the giving of such notice; provided, however, if such act or omission cannot, with due diligence and in good faith, be remedied within such thirty (30)-day period, the Landlord and/or mortgagee shall be allowed such further period of time as may be reasonably necessary provided that it shall have commenced remedying the same with due diligence and in good faith within said thirty (30)-day period. In the event Landlord’s act or omission which constitutes a Landlord’s default hereunder results in an immediate threat of bodily harm to Tenant’s employees, agents or invitees, or damage to Tenant’s property Tenant may proceed to cure the default without prior notice to Landlord specifying the alleged failure to performprovided, and however, in that event Tenant shall send by certified mail, return receipt requested, a copy give written notice to Landlord as soon as possible after commencement of such Notice of Default to cure. Landlord will reimburse Tenant for any and all mortgage holdersreasonable out-of-pocket expenses incurred by Tenant in effecting such cure, provided that Tenant has been previously advised given Landlord at least fifteen (15) additional days’ notice of the addresses) of its intention to expend such mortgage holder(s)sums. Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord Nothing herein contained shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which construed or interpreted as requiring any mortgagee to cure remedy such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousact or omission.
Appears in 1 contract
Samples: Net Lease (Wells Mid-Horizon Value-Added Fund I LLC)
Landlord’s Default. If Tenant asserts 28.1 Landlord shall be in default of this Lease if it fails to perform any provision of this Lease that Landlord has failed it is obligated to meet any of its obligations under this Lease, Tenant shall provide perform and if the failure to perform is not cured within thirty (30) days after written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant default has been previously advised of the addressesgiven by Tenant to Landlord. If such a default cannot reasonably be cured within thirty (30) of such mortgage holder(s). days, Landlord shall have a not be in default of this Lease if Landlord commences to cure the default within such thirty (30) day period after receipt and diligently and in good faith continues to cure the default until completion, provided the same is capable of the Notice of Default in which to commence curing any non-performance being cured by Landlord, and .
28.2 If Landlord shall have as much time thereafter failed to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if a default by Landlord has not begun the cure within thirty (30) days of receipt after expiration of the Notice applicable time, if any, for cure of Defaulta particular default, Tenant may, at its election, but without obligation therefor (a) seek specific performance of any obligation of Landlord, or Landlord does not thereafter diligently and continuously attempt seek to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) daysenjoin any breach hereof, after receipt which Tenant shall retain, and may exercise and enforce, any and all rights which Tenant may have against Landlord as a result of a second written notice such default, and/or (b) exercise any other remedy given hereunder or now or hereafter existing at law or in equity or by statute, and/or (c) cure the default and xxx Landlord for the expense reasonably incurred thereby and deduct from Tenant, within which to cure Rent thereafter payable the amount of any final unappealable judgment obtained by Tenant against Landlord in such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuoussuit.
Appears in 1 contract
Samples: Merger Agreement (Prophet 21 Inc)
Landlord’s Default. If In the event of any act or omission of Landlord constituting a default by Landlord, other than Landlord’s failure to have the Improvements substantially completed on a timely basis as provided in Article II and to make the same fully available to Tenant asserts that Landlord has failed to meet any of its obligations under this Leaseas therein provided, Tenant shall provide not exercise any remedy until Tenant has given Landlord and any mortgagee whose name and address have been previously provided to Tenant prior written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice act or omission and until a 30-day period of Default time to any and all mortgage holders, provided that Tenant has been previously advised of allow Landlord or the addresses) mortgagee to remedy such act or omission shall have elapsed following the giving of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlordnotice; provided, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default orhowever, if such default act or omission cannot with due diligence and in good faith be cured remedied within that timesuch 30-day period, then Landlord and/or mortgagee shall be allowed such additional further period of time as may be reasonably necessary so long provided that it shall have commenced remedying the same with due diligence and in good faith within said 30-day period. In the event any act or omission of Landlord which constitutes a Landlord’s default hereunder results in an immediate threat of bodily harm to Tenant’s employees, agents or invitees or damage to Tenant’s property, or exposes Tenant to criminal liability, Tenant may proceed to cure the default without prior notice to Landlord or its mortgagee; provided, however, in that event Tenant shall give written notice to Landlord and its mortgagee as their efforts are diligent and continuoussoon as possible after commencement of such cure. Nothing herein contained shall be construed or interpreted as requiring any mortgagee to remedy such act or omission.
Appears in 1 contract
Samples: Lease Agreement (American Residential Investment Trust Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform (including, Tenant but not limited to, as a result of gross negligence or willful misconduct) such obligation(s) and such failure shall provide continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged failure to perform, and breach or default. Tenant shall send have no right to terminate this Lease for any breach or default by certified mailLandlord hereunder and no right, return receipt requestedfor any such breach or default, a copy to offset or counterclaim against any rent due hereunder, provided, however, that the foregoing shall not affect Tenant’s rights under Sections 5.2 and 7.2 hereof. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of such Notice of Default to business or any and all mortgage holdersother indirect, provided special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary so long as their efforts are diligent to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). Where provision is made in this Lease for Landlord’s consent and continuousTenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, Tenant shall not be entitled to any damages and Tenant hereby waives any claim based on such failure, refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be entitled to bring an action for specific performance or injunction.
Appears in 1 contract
Samples: Lease (Liquid Holdings Group, Inc.)
Landlord’s Default. If Tenant asserts that A "Default by Landlord" shall exist hereunder if Landlord has failed breaches or fails to meet comply with any of its obligations under agreement, term, covenant or condition in this Lease, Tenant shall provide written notice (“Notice of Default”) Lease applicable to Landlord specifying the alleged and such breach or failure to performcomply continues for a period of thirty (30) days after the receipt by Landlord and by the holder of any mortgage or deed of trust covering the Premises, and Tenant shall send by certified mail, return receipt requested, a copy the Real Property or any portion thereof of such Notice of Default to any and all mortgage holders, provided that whose address Tenant has been previously advised notified in writing (a "Landlord's Mortgagee"), if any, of the addressesa written notice thereof referring to this Paragraph 34 and specifying such failure and requiring it to be remedied, or, if such breach or failure to comply cannot reasonably be cured within such thirty (30) of day period, if neither Landlord nor Landlord's Mortgagee, if any, shall in good faith commence to cure such mortgage holder(s). Landlord shall have a breach or failure to comply within such thirty (30) day period after receipt or shall not diligently proceed therewith to completion. In the event of the Notice of a Default in which to commence curing any non-performance by Landlord, and Tenant may, except as otherwise expressly provided in this Lease, bring a separate action against Landlord shall for any claim Tenant may have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if against Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If In no event will Landlord is in default be responsible for any consequential or punitive damages incurred by Tenant, including, but not limited to, loss of profits or interruption of business as a result of any Default by Landlord hereunder. Further, Tenant shall have no right to withhold such amounts or offset against rent or any other amounts due under this Lease, then Lease until after final adjudication by a court of competent jurisdiction and unless the mortgage holder(s) shall have Landlord has failed to post a bond in an additional thirty (30) days, after receipt of a second written notice from Tenant, within which amount equal to cure or greater than the amount due under such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousfinal adjudication.
Appears in 1 contract
Landlord’s Default. If Landlord shall be deemed to be in default of this Lease if Landlord fails to make any payments to Tenant asserts that required under this Lease and such failure continues for thirty (30) days after written notice from Tenant to Landlord, or if Landlord has failed to meet shall be in default in the prompt and full performance of any other of its obligations under promises, covenants or agreements contained in this Lease, Tenant shall provide Lease and such default in performance continues for more than thirty (30) days after written notice (“Notice of Default”) thereof from Tenant to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy particulars of such Notice default or breach of Default to any and all mortgage holdersperformance; provide, provided however, that Tenant has been previously advised if the default complained of, other than for the payment of the addresses) monies, is of such mortgage holder(s). Landlord shall have a nature that the same cannot be rectified or cured within such thirty (30) day period after receipt of the Notice of Default in which period, then such default shall be deemed to commence curing any non-performance by be rectified or cured if Landlord, and Landlord shall have as much time thereafter to complete within such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days day period, shall have commenced such cure and shall continue thereafter with due diligence to cause such cure to be completed. Upon any default of receipt of the Notice of Defaultthis Lease by Landlord, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord Tenant shall be in default under this Lease. If Landlord is in default under this Lease, then entitled to: (a) withhold payment of Rent due and to accrue hereunder (to the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which extent necessary to cover the costs estimated by Tenant to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary default) so long as their efforts are diligent Landlord remains in default; (b) cure such default and continuousdeduct expenses (including, without limitation, reasonable attorneys’ fees and court costs) incurred by Tenant therefor from the Rent due and to become due hereunder; (c) terminate this Lease and receive a refund of any prepaid Rent and additional rent; or (d) pursue any and all other remedies available to Tenant at law or in equity.
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Landlord’s Default. If Tenant asserts that Landlord has failed shall fail to meet perform any of its obligations term or provision under this LeaseLease required to be performed by Landlord, Tenant Landlord shall provide not be deemed to be in default hereunder nor subject to any claims for damages of any kind, unless such failure shall have continued for a period of thirty (30) days after written notice thereof by Tenant; provided, if the nature of Landlord’s failure is such that more than thirty (“Notice of Default”30) days are reasonably required in order to Landlord specifying the alleged failure to performcure, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a not be in default if Landlord commences to cure such failure within such thirty (30) day period, and thereafter reasonably seeks to cure such failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period after receipt of time during which Landlord is delayed in, or prevented from, curing due to fire or other casualty, strikes, lock-outs or other labor troubles, shortages of equipment or materials, governmental requirements, power shortages or outages, acts or omissions by Tenant or other Persons, and other causes beyond Landlord’s reasonable control. If Landlord shall fail to cure within the Notice times permitted for cure herein, Landlord shall be subject to such remedies as may be available to Tenant (subject to the other provisions of Default this Lease); provided that, in which recognition that Landlord must receive timely payments of Rent and operate the Property, except as otherwise expressly provided herein Tenant shall have no right of self-help to commence curing perform repairs or any non-performance by other obligation of Landlord, and Landlord shall have as much time thereafter no right to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Defaultwithhold, set-off, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousxxxxx Rent.
Appears in 1 contract
Samples: Office Lease (SP Plus Corp)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a period of thirty (30) day period after receipt days from the date of the Notice written notice from Tenant of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s default (any such notice, a “Landlord Default Notice”) to cure efforts are diligent and continuous. any default by Landlord under this Lease; provided, however, that with respect to any default that cannot reasonably be cured within thirty (30) days, the default shall not be deemed to be uncured if Landlord has not begun the commences to cure within thirty (30) days of from receipt of the Landlord Default Notice and continues to prosecute diligently the curing thereof. Tenant agrees to give any Mortgagee, by registered or certified mail, a copy of Defaultany Landlord Default Notice served upon the Landlord, or Landlord does not thereafter diligently and continuously attempt provided that prior to cure, then Landlord shall be such notice Tenant has been notified in default under this Leasewriting of the address of such Mortgagee. If Landlord is fails to cure such default within the time provided for in default under this Lease, then the mortgage holder(s) Mortgagee shall have an additional thirty (30) days, days after receipt the expiration of a second written notice from Tenant, such cure period within which to cure such default or(provided that Tenant notifies Mortgagee concurrently with Tenant’s delivery of the Landlord Default Notice to Landlord; otherwise, if Mortgagee shall have thirty (30) days from the later of the date on which it receives notice of the default from Tenant and the expiration of Landlord’s cure period). If such default cannot be cured by Mortgagee within that timethe cure period, then such additional time as Tenant may be necessary not exercise any of its remedies so long as their efforts are diligent Mortgagee has commenced and continuousis diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure).
Appears in 1 contract
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a period of thirty (30) day period after receipt days from the date of written notice from Tenant to cure any default by Landlord under this Lease; provided, however, that with respect to any default that cannot reasonably be cured within thirty (30) days, the Notice of Default in which default shall not be deemed to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. be uncured if Landlord has not begun the commences to cure within thirty (30) days from Tenant's notice and continues to prosecute diligently the curing thereof. Tenant agrees to give any Mortgagee, by registered or certified mail, a copy of receipt any Notice of Default served upon the Landlord, provided that prior to such notice Tenant has been notified in writing of the Notice address of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Leasesuch Mortgagee. If Landlord is fails to cure such default within the time provided for in default under this Lease, then the mortgage holder(s) Mortgagee shall have an additional thirty (30) days, after receipt days (provided that Tenant notifies Mortgagee concurrently with Tenant's notice to Landlord at the beginning of a second written notice Landlord's thirty (30) day period; otherwise Mortgagee shall have thirty (30) days from Tenant, the later of the date on which it is noticed and the expiration of Landlord's cure period) within which to cure such default or, if default. If such default cannot be cured by Mortgagee within that timethe cure period, then such additional time as Tenant may be necessary not exercise any of its remedies so long as their efforts are diligent Mortgagee has commenced and continuousis diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure).
Appears in 1 contract
Landlord’s Default. If Tenant asserts that (a) In the event Landlord has failed to meet should default in any of its obligations under this Leasehereunder, Tenant shall provide simultaneously give Landlord and Landlord’s Mortgagee (if Landlord has given Tenant written advance notice of such mortgagee’s interest and address) written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, default and Landlord shall thereupon have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days (plus an additional reasonable period as may be required in the exercise by Landlord of receipt of the Notice of Defaultdue diligence) in which to cure any such default. In addition, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) Landlord’s Mortgagee shall have the right (but not the obligation) to cure or remedy such default during the period that is permitted to Landlord hereunder, plus an additional period of thirty (30) days, after receipt and Tenant will accept such curative or remedial action taken by Landlord’s Mortgagee with the same effect as if such action had been taken by Landlord,
(b) Upon the failure of a second written notice from Tenant, within which Landlord or Landlord’s Mortgagee to cure such default orin accordance with the provisions of Paragraph 20(a) hereof, if such default cannot Tenant shall be cured within that timeauthorized and empowered to perform the obligations which Landlord failed to perform, then such additional time and the reasonable costs incurred by Tenant in so doing, together with any interest or penalty required to be paid in connection therewith, shall be payable on demand by Landlord to Tenant. Tenant’s exclusive remedy shall be self-help as may be necessary so long as their efforts are diligent set forth herein and continuousan action for damages against Landlord, and Tenant hereby waives the benefit of any laws granting Tenant a lien upon the property of Landlord and/or upon Rent due Landlord.
Appears in 1 contract
Landlord’s Default. If Tenant asserts that Landlord has failed will be in "Default" if Landlord fails to meet observe or perform any of its obligations under material term or covenant in this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying Lease and does not cure the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period within 30 days after receipt of notice of the Notice of Default failure from Tenant (unless the failure cannot reasonably be cured within such period, in which case Landlord will be in Default if it fails to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the its cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter such period and/or fails to diligently and continuously attempt pursue its cure to cure, then Landlord shall be in default under this Leasecompletion). If Landlord is in default Default and while that Default is continuing, Tenant may cure the Default at Landlord's expense, in which case Landlord shall promptly reimburse Tenant for all reasonable and necessary costs and expenses incurred by Tenant in effecting its cure. Upon written request of Landlord, Tenant shall provide Landlord with reasonable documentation of the costs and expenses incurred by Tenant in effecting its cure. Tenant may also recover all reasonable and necessary costs and expenses it incurs in connection with Landlord's Default and the enforcement of its remedies under this Lease, then the mortgage holder(s) including without limitation reasonable legal fees. Tenant shall have an additional thirty (30) daysuse reasonable good faith efforts to mitigate its damages as a result of Landlord's Default If Landlord fails to reimburse Tenant promptly for any amounts due~Tenant under or pursuant to this Lease, after receipt Tenant may at its option in addition to any other right or remedy Tenant may have, deduct such amounts from subsequent installments of a second written notice rent and/or other amounts which from Tenant, within which time to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousbecome due to Landlord.
Appears in 1 contract
Landlord’s Default. If Tenant asserts that (a) The following shall constitute events of default by Landlord:
(i) Landlord has failed to meet any of its obligations default under this the IRB Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty fail to cure or commence to cure such default (30) day period after receipt of to the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete extent that such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun may be made under the cure IRB Lease) within thirty (30) days after written notice from Tenant (provided, however, that Landlord shall provide Tenant with prompt notice of receipt any IRB default of the Notice Landlord when Landlord becomes aware of Defaultsuch default);
(ii) Landlord shall file or have filed against it, voluntarily or involuntarily, a petition in bankruptcy or shall be adjudicated a bankrupt or insolvent, or Landlord does not thereafter diligently and continuously attempt to cureshall take the benefit of any relevant legislation that may be in force for bankrupt or insolvent debtors or shall file or have filed against it, then voluntarily or involuntarily, any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation, or if Landlord shall be seek or consent to or acquiesce in default under the appointment of any trustee, receiver or liquidator of Landlord or of any substantial part of its properties, or shall make any general assignment for the benefit of creditors.
(iii) Landlord shall fail to perform or observe any other term or condition contained in this Lease. If Lease and Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional not cure or commence to cure such failure within thirty (30) days, days after receipt of a second Landlord's written notice from by Tenant.
(b) In the event any one or more of the above shall occur, within which Tenant shall have the right to cure terminate this Lease upon the expiration of fifteen (15) days after receipt of Tenant's written notice by Landlord.
(c) Should Tenant at any time terminate this Lease for any breach, Tenant shall still have such default or, if such default cannot be cured within that time, then such additional time remedies as may be necessary so long as their efforts are diligent and continuousavailable at law.
Appears in 1 contract
Samples: Lease Agreement (Andersons Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged failure to perform, and breach or default. Tenant shall send have no right to terminate this Lease for any breach or default by certified mailLandlord hereunder and no right, return receipt requestedfor any such breach or default, a copy to offset or counterclaim against any rant due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of such Notice of Default to business or any and all mortgage holdersother indirect, provided special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of such notice to Landlord (or if such breach or default cannot be cured within said time and provided Tenant may still conduct its business in the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to curePremises without material interference, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such breach or default or, if such default breach or defauIt cannot be cured within that timetime and provided Tenant may still conduct its business in the Premises without material interference, then such additional time as may be necessary so long as their efforts are diligent necessary, if within such thirty (30) days any such holder or lessor has commenced and continuous.is diligently pursuing the remedies necessary
Appears in 1 contract
Landlord’s Default. If Tenant asserts that Landlord has failed to meet In the event of any alleged default on the part of its obligations under this LeaseLandlord, Tenant shall provide give written notice to Landlord and shall afford Landlord 30 days to cure any such default or if the nature of the default is such that it cannot be cured within 30 days, such longer period as may be reasonably necessary so long as Landlord begins the cure within such 30-day period and diligently pursues it to completion. Notice to Landlord or any such alleged default shall be ineffective unless a copy of such notice is simultaneously delivered to each holder of a mortgage or deed of trust affecting all or any portion of the Building (“Notice Mortgagee”), but only if the name and address has been provided to Tenant in writing prior to the giving of Default”) Xxxxxx’s notice under this Section. Tenant agrees to Landlord specifying give all Mortgagees, in the alleged failure manner provided in Section 29.17, at the address referred to perform, and Tenant shall send by certified mail, return receipt requestedherein, a copy of such Notice any notice of Default default given to any Landlord, but only if the name and all mortgage holders, provided that Tenant address has been previously advised provided to Tenant in writing prior to the giving of the addresses) of such mortgage holder(s)Xxxxxx’s notice under this Section. Tenant further agrees that if Landlord shall have a thirty (30) day period after receipt of failed to cure such default or failed to have commenced to diligently cure such default within the Notice of Default time provided for in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) Mortgagees shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, 30 days within which to cure such default. If a material default or, if such default canor breach by Landlord of a material provision of this Lease is not be cured within that timethe time periods provided for in this Section, then such additional time Tenant may terminate this Lease by written notice to Landlord within 15 days after the expiration of the last applicable cure period. In no event will any party be responsible for any consequential damages incurred by the other party as may be necessary so long as their efforts are diligent and continuousa result of any default, including without limitation lost profits or interruption of business.
Appears in 1 contract
Landlord’s Default. If Tenant asserts that In the event of any breach or default by Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, which breach or default renders a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised material portion of the addresses) Premises unusable for the conduct of such mortgage holder(s). Landlord shall have Tenant's business and continues for a period of thirty (30) day period days after receipt written notice thereof from Tenant (or with reasonable notice in case of the Notice an emergency), then in addition to all other rights and remedies of Default in which to commence curing any non-performance Tenant under this Lease and at law or equity, Tenant may, but shall not be obligated to, cure such breach on behalf of Landlord and upon demand by LandlordTenant, and Landlord shall have promptly pay to Tenant the costs and expenses of such cure, together with interest accruing on such amounts paid by Tenant at the rate set forth in Section 1.9. If, however, other than in the case of an emergency, the nature of such breach is such that it cannot be cured within thirty (30) days, then Tenant's right to cure such breach shall be suspended for such additional period of time as much time thereafter may be necessary to complete such cure as is necessary the breach so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the commences cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not and thereafter diligently and continuously attempt prosecutes the curing of the breach, and so long as continuation of the breach does not create material risk to the Premises or to persons using the Premises. When Tenant makes demand for payment, Tenant shall furnish Landlord with an itemized statement of the costs and expenses incurred for cure, then Landlord shall be in default under this Lease. If Landlord is in default fails to pay any sums due Tenant under this LeaseLease within ten (10) days after demand, Tenant may deduct up to $5,000 of the amounts paid by Tenant from rent then or thereafter due from Tenant. In the mortgage holder(s) shall have case of an additional thirty (30) daysemergency, a situation threatening to the safety of Tenant's employees, agents, contractors, invitees and licensees or damage to Tenant's personal property, Tenant may take such immediate action, after receipt of a second written notice notifying Landlord, as necessary to ensure safety and prevent damage. Nothing above prevents Tenant from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuouspursuing other remedies.
Appears in 1 contract
Landlord’s Default. If Landlord shall in no event be in default in the performance of any of Landlord’s obligations hereunder unless and until Landlord shall have failed to perform such obligations within 30 days, or such additional time as is reasonably required to correct any such default after notice by Tenant asserts that to Landlord properly specifying wherein Landlord has failed to meet perform any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holdersobligation, provided that Tenant has been previously advised of the addresses) of Landlord commences such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt such notice, except in the event of an emergency situation, whereby Landlord should proceed to cure immediately upon Tenant’s notice thereof. It is the express understanding and agreement of the Notice parties and a condition of DefaultLandlord’s agreement to execute this Lease that in no event shall Tenant have the right to terminate this Lease or seek an abatement to or offset from Base Rent or other Rent as a result of Landlord’s default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord but Tenant shall be in entitled to seek all other remedies, at law or equity, as a result of such default. Tenant hereby waives its right to recover punitive or consequential damages arising out of any act, omission or default under this Leaseby Landlord. If This Lease and the obligations of Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default ordoing so, if such default cannot inability or delay is caused by reason of a Force Majeure Event (as defined below), and the time for Landlord’s performance shall be cured within that timeextended for the period of any such delay. As used herein, then a “ Force Majeure Event ” shall be any delay caused by or resulting from acts of God, war, civil commotion, fire, flood or other casualty, labor difficulties, shortages of or inability to obtain labor, materials or equipment, governmental regulations, unusually severe weather, or other causes beyond such additional time as may be necessary so long as their efforts are diligent and continuousparty’s reasonable control (other than lack of funds).
Appears in 1 contract
Landlord’s Default. If Landlord shall not be in default unless Landlord fails to perform its obligations under this Lease within a reasonable time, but in no event later than fifteen (15) days after written notice by Tenant asserts that to Landlord and to the holder of any first mortgage or deed of trust covering the Premises whose name and address shall have theretofore been furnished to Tenant in writing and specifying how Landlord has failed to meet any perform such obligations and the acts required to cure the same; provided, however, that if the nature of its obligations under Landlord's obligation is such that more than fifteen (15) days are required for performance, Landlord shall not be in default if Landlord commences performance within such fifteen (15) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease, Tenant Lease as a result of Landlord's default and Tenant's remedies shall provide be limited to (1) damages and/or (2) an injunction and/or (3) following an additional fifteen (15) days' written notice (“Notice of Default”) to Landlord specifying the alleged failure defaults and the actions Tenant intends to performundertake, Tenant may cure any Landlord default which Landlord fails to cure within the time limit set forth in this Section and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty said additional fifteen (3015) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun such default results in a material impairment of Tenant's ability to conduct its business at the cure within thirty (30) days of receipt Premises or an immediate threat of the Notice lapse of Default, or any insurance policy required to be maintained by Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under by this Lease. If Any sums so expended by Tenant for the reasonable costs of effecting such cure shall be reimbursed by Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousupon demand.
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Landlord’s Default. If Tenant asserts that Landlord has failed to meet any An “Event of its obligations Default by Landlord” under this Lease, Tenant Lease shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. occur if Landlord has breached or failed to perform any covenant, agreement or undertaking of Landlord under this Lease and has not begun the commenced to cure such breach or failure within thirty (30) days of receipt of the Notice of Defaultwritten notice thereof from Tenant, or Landlord does not thereafter and diligently and continuously attempt in good faith continued to cure, then Landlord shall be in default under this Leasecure the breach or failure until completion. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional breach or failure cannot reasonably be cured within such thirty (30) daysday period, Landlord shall not be in default if Landlord commences to cure the breach or failure within the thirty (30) day period and diligently and in good faith continues to prosecute the cure of said breach or failure to completion, provided such breach or failure is cured within one hundred and eighty (180) days after Landlord’s receipt of a second written notice from Tenantthereof, within which subject to cure such extension for reasons due to Force Majeure. Upon the occurrence of any Event of Default by Landlord, Xxxxxx’s sole and exclusive remedy shall be a suit for monetary damages against Landlord. In no event shall Tenant have the right to terminate this Lease or offset or xxxxx any sums due to Landlord hereunder as a result of a default orby Xxxxxxxx. No waiver by Tenant of any violation or breach of any of the terms, if such default cannot provisions and covenants herein contained by Landlord shall be cured within that timedeemed or construed to constitute a waiver of any other violation or breach of any of the terms, then such additional time as may be necessary so long as their efforts are diligent provisions and continuouscovenants contained herein.
Appears in 1 contract
Samples: Lease Agreement (SouthState Corp)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any An “Event of its obligations Default by Landlord” under this Lease, Tenant Lease shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. occur if Landlord has breached or failed to perform any covenant, agreement or undertaking of Landlord under this Lease and has not begun the commenced to cure such breach or failure within thirty (30) days of receipt of the Notice of Defaultwritten notice thereof from Tenant, or Landlord does not thereafter and diligently and continuously attempt in good faith continued to cure, then Landlord shall be in default under this Leasecure the breach or failure until completion. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional breach or failure cannot reasonably be cured within such thirty (30) daysday period, Landlord shall not be in default if Landlord commences to cure the breach or failure within the thirty (30) day period and diligently and in good faith continues to prosecute the cure of said breach or failure to completion, provided such breach or failure is cured within one hundred and eighty (180) days after Landlord’s receipt of a second written notice from Tenantthereof, within which subject to cure such extension for reasons due to Force Majeure. Upon the occurrence of any Event of Default by Landlord, Xxxxxx’s sole and exclusive remedy shall be a suit for monetary damages against Landlord. In no event shall Tenant have the right to terminate this Lease or offset or xxxxx any sums due to Landlord hereunder as a result of a default orby Xxxxxxxx. No waiver by Tenant of any violation or breach of any of the terms, if such default cannot provisions and covenants herein contained by Landlord shall be cured within that timedeemed or construed to constitute a waiver of any other violation or breach of any of the terms, then such additional time as may be necessary so long as their efforts are diligent provisions and continuouscovenants contained herein.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Atlantic Union Bankshares Corp)
Landlord’s Default. If Landlord shall only be deemed to be in default on the terms of this Lease in the event Landlord shall violate, neglect, or fail to observe, keep or perform any covenant or agreement which is not observed, kept, or performed by Landlord within thirty (30) days after the receipt by Landlord of Tenant’s written notice of such breach which notice shall specifically set out the breach. Landlord shall not be considered in default so long as Landlord commences to cure the breach in a diligent and prudent manner and is allowed such additional time as reasonably necessary to correct the breach. Notwithstanding any provisions to the contrary contained in this Lease, no personal liability of any kind or character whatsoever shall attach or at any time hereafter attach under any conditions to Landlord or any subsidiary, affiliate or partner of Landlord or their respective officers, directors, shareholders, or employees for payments of any amounts due under this Lease or for the performance of any obligation under this Lease. The exclusive remedies of Tenant asserts that for failure of Landlord has failed to meet perform any of its obligations under this LeaseLease shall be to proceed against the interest of Landlord in and to the Leased Premises it being understood that in no event shall a judgment for any deficiency or monetary claim be sought, obtained or enforced against Landlord or any subsidiary, affiliate or partner of Landlord or their respective officers, directors, shareholders or employees. In no event shall Landlord be liable for any consequential, special, punitive or exemplary damages. Except to the extent arising out of Tenant’s obligations under Paragraph 19 or Paragraph 31 hereof, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that timeliable hereunder for any other consequential, then such additional time as may be necessary so long as their efforts are diligent and continuousspecial, punitive or exemplary damages. TENANT HEREBY WAIVES ITS STATUTORY LIEN UNDER SECTION 91.004 OF THE TEXAS PROPERTY CODE.
Appears in 1 contract
Samples: Lease Agreement (Sulphco Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in default in the performance of any of its obligations under this Lease, Tenant Lease unless Landlord shall provide fail to perform such obligations and such failure shall continue for a period of thirty days (or such additional time as is reasonably required to correct any such default provided that Landlord is diligently pursuing the cure of the same) after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord's alleged failure to performdefault. In the event of any default by Landlord hereunder, and Tenant shall send have no right to terminate this Lease, or to xxxxx or withhold Rent, or to deduct from Rent any amount expended or to be expended by certified mailTenant to perform any obligation of Landlord hereunder, return receipt requestedor to offset or interpose any counterclaim for any amount in any action or proceeding commenced by Landlord with respect to this Lease or the tenancy created hereunder, but Tenant shall have the right, in the event of a copy default by Landlord hereunder, to exercise all other remedies available to Tenant, at law or in equity, because of such Notice of Default default by Landlord. In no event shall Landlord ever be liable to Tenant for any and all mortgage holdersindirect, provided special, or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such default cannot thereafter diligently and continuously attempt to curebe cured within said time, then Landlord shall within such additional time as may be in default under this Lease. If Landlord is in default under this Leasenecessary to cure such default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 5.3 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such default or, or if such default cannot be cured within that time, then such additional time following the date that such holder or lessor becomes entitled to cure such default as may be necessary so long as their efforts are diligent and continuousto cure such default (including commencement of foreclosure proceedings, if necessary to effect such cure).
Appears in 1 contract
Samples: Lease (A123 Systems Inc)
Landlord’s Default. If Landlord shall not be in default under this ------------------ Lease unless Landlord fails to perform the obligations required of Landlord hereunder within the time period set forth in this Lease, or if no time period is provided, then within thirty (30) days after written notice by Tenant asserts that to Landlord in writing specifying wherein Landlord has failed to meet any perform such obligation; provided, however, that if the nature of its obligations under this LeaseLandlord's obligation is such that more than thirty (30) days are required for performance, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). then Landlord shall have a not be in default if Landlord commences performance within such thirty (30) day period after receipt and thereafter diligently prosecutes the same to completion. Tenant shall have no rights as a result of any default by Landlord until Tenant gives thirty (30) days' notice to any person who has a recorded interest pertaining to the Building, specifying the nature of the Notice of Default in which default. Such person shall then have the right to commence curing any non-performance by Landlordcure such default, and Landlord shall have as much time thereafter to complete not be deemed in default if such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure person cures such default within thirty (30) days of after receipt of notice of the Notice of Defaultdefault, or Landlord does not thereafter diligently and continuously attempt within such longer period of time as may reasonably be necessary to cure, then Landlord shall be in default under this Leasecure the default. If Landlord is or such person does not cure the default, Tenant may exercise such rights or remedies as shall be provided or permitted by law to recover any damages proximately caused by such default. Each of the parties agrees that, in default under this Leasethe event that it becomes entitled to receive damages from the other party, then the mortgage holder(s) it shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that timeallowed to recover from the other party consequential damages except as otherwise expressly provided (i) with respect to any holdover by Tenant in Article 16, then such additional time as may be necessary so long as their efforts are diligent and continuous(ii) in connection with any termination of this Lease by Landlord following Tenant's default pursuant to Section 19.2.1.
Appears in 1 contract
Samples: Office Lease (Homestore Com Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed violates or fails to meet perform or otherwise breaches any of its obligations under this Leaseagreement, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to performterm, and Tenant shall send by certified mailcovenant or condition herein contained, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default not be deemed to be in which to commence curing any non-performance by Landlord, and Landlord default hereunder unless its default shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within continue for thirty (30) days of receipt after written notice thereof has been given by Tenant to Landlord specifying the nature of the Notice of Defaultalleged default, or such additional time as is reasonably required to correct its default, provided that Landlord does not thereafter diligently and continuously attempt shall, subject to cureits arbitration rights set forth below, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional begin such correction within such thirty (30) daysdays period and thereafter prosecute the curing of such default to completion with due diligence. Landlord shall have the right to dispute Tenant’s allegation of default using the arbitration procedures set forth in Article 11. Upon the occurrence of an event of default by Landlord, after receipt of a second written notice from Tenant, within which Tenant shall have the following rights:
(i) To seek injunctive relief or specific performance to cure such default or, if and to seek reimbursement for those costs incurred by Tenant in curing any such default cannot of Landlord, including, without limitation, any fines, fees, reasonable attorneys fees and any other charges, payments, costs and expenses so incurred by Tenant and any losses or damages suffered by Tenant as a result of such default.
(ii) To terminate this Lease and the term hereby created, whereupon Tenant shall be cured within that time, then such additional time as may be necessary so long as their efforts are diligent entitled to recover the Security Deposit and continuousany rent paid in advance to Landlord hereunder.
Appears in 1 contract
Landlord’s Default. If Landlord shall be deemed to be in default under this Lease if Tenant asserts that has given written notice (or verbal notice, in case of emergency, followed by written notice as soon as is practicable under the circumstances) to Landlord (and, if requested by Landlord, to Landlord’s mortgagee if the mortgagee has notified Tenant in writing of its interest and the address to which such notices are to be sent) of any such default by Landlord and Landlord has failed to meet any cure such default within thirty (30) days (or with reasonable promptness, in case of its obligations under this Leaseemergency) after Landlord received notice thereof. Provided, Tenant shall provide written notice however, that if the nature of Landlord’s default in a non-emergency situation is such that more than thirty (“Notice of Default”30) to Landlord specifying the alleged failure to performdays are reasonably required for a cure, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). then Landlord shall have a not be deemed to be in default if Landlord commences such cure within the original thirty (30) day period after receipt and thereafter diligently prosecutes the cure to completion. Tenant shall be entitled to a fair and reasonable abatement of Rent during the Notice time and to the extent that the Premises are untenantable as a result of Default in which Landlord’s failure to commence curing perform any non-performance condition or covenant required under the Lease to be performed by Landlord, and Landlord . The failure of Tenant to pursue any remedy shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time deemed as may a waiver by reason of any subsequent breach or breaches by the Landlord. The exercise of any remedy by Tenant shall not be necessary so long as their efforts are diligent and continuousdeemed an election of remedies or preclude Tenant from exercising any other remedies in the future.
Appears in 1 contract
Landlord’s Default. If Tenant asserts that Landlord has failed shall fail to meet perform any of its obligations term or provision under this LeaseLease required to be performed by Landlord, Tenant Landlord shall provide not be deemed to be in default hereunder nor subject to any claims for damages of any kind, unless such failure shall have continued for a period of thirty (30) days after written notice thereof by Tenant; provided, if the nature of Landlord's failure is such that more than thirty (“Notice of Default”30) days are reasonably required in order to Landlord specifying the alleged failure to performcure, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a not be in default if Landlord commences to cure such failure within such thirty (30) day period, and thereafter reasonably seeks to cure such failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period after receipt of time during which Landlord is delayed in, or prevented from, curing due to fire or other casualty, strikes, lockouts or other labor troubles, shortages of equipment or materials, governmental requirements, power shortages or outages, acts or omissions by Tenant or other Persons, and other causes beyond Landlord's reasonable control. If Landlord shall fail to cure within the Notice times permitted for cure herein, Landlord shall be subject to such remedies as may be available to Tenant (subject to the other provisions of Default this Lease); provided, in which recognition that Landlord must receive timely payments of Rent and operate the Property, Tenant shall have no right of self help to commence curing perform repairs or any non-performance by other obligations of Landlord, and Landlord shall have as much time thereafter no right to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Defaultwithhold, set off, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousxxxxx Rent.
Appears in 1 contract
Samples: Office Lease (Unison Software Inc)
Landlord’s Default. If Tenant asserts that Should Landlord has failed to meet default in the performance of any of its obligations under this Lease, Tenant the covenants on the part of Landlord to be kept or performed and such default shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within continue for thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from TenantTenant stating the nature and extent of the default (an "EVENT OF DEFAULT BY LANDLORD"), within which and provided that Landlord is diligently pursuing such cure, Landlord shall have additional time, not in excess of 60 days, as may be reasonably necessary to cure such default ordefault, if Tenant shall, at its option, and in addition to any other remedy available to Tenant at law or in equity, have the right to terminate this Lease upon delivery of written notice to Landlord, or cure the Event of Default by Landlord, including, but not limited to, the making of any repairs or replacements to the Leased Premises, and Landlord shall reimburse Tenant, on demand, for all of Tenant's reasonable, out-of-pocket costs. Notwithstanding the foregoing, Tenant may cure any default, with only such notice to Landlord as is reasonable under the circumstances, where the failure to promptly cure such default canwould create or allow to persist a condition constituting an imminent threat to human health or substantial damage to property. Any default notice to landlord shall also be given to any lender for Landlord with respect to which Landlord gives Tenant notice of such lender's name and address, and such lender shall have the right, but not be cured within that timethe obligation, then to cure such additional time default. Upon final judicial determination of the validity and amount of any costs incurred by Tenant in performing any of the Landlord's obligations hereunder as aforesaid, Tenant may be necessary so long as their efforts are diligent set-off such costs incurred by Tenant against Rent or and continuousany other payment by the Tenant due or to become due hereunder.
Appears in 1 contract
Samples: Land and Building Lease Agreement (Aerobic Creations, Inc.)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged failure to perform, and breach or default. Tenant shall send have no right to terminate this Lease for any breach or default by certified mailLandlord hereunder and no right, return receipt requestedfor any such breach or default, a copy to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of such Notice of Default to business or any and all mortgage holdersother indirect, provided special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such default orbreach or default. Where provision is made in this Lease for Landlord’s consent and Tenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, if such default canTenant shall not be cured within that timeentitled to any damages and Tenant hereby waives any claim based on such failure, then such additional time as may refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be necessary so long as their efforts are diligent and continuousentitled to bring an action for specific performance or injunction.
Appears in 1 contract
Samples: Lease (Curis Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed fails to meet perform any of its obligations under this Lease and does not cure such failure within 30 days after written notice (or such longer period as is reasonably required as provided in the following sentence), Tenant may but shall not be obligated to perform any obligation of Landlord under this Lease; and, if Tenant so elects, all reasonable costs and expenses actually paid by Tenant in performing such obligation, together with interest at the Default Rate, shall be reimbursed by Landlord to Tenant on demand, accompanied by a Form W-9, original notarized lien waivers from all contractors for the work, copies of all contracts for the work, and copies of all payments for the work made by Tenant. In the event that Landlord fails to reimburse such reasonable costs and expenses within thirty (30) days following Tenant’s written demand and receipt of such documentation, Tenant shall provide written notice (“Notice be entitled to receive an abatement of Default”) to Landlord specifying Rent in the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy amount of such Notice costs and expenses. If the default is of Default to any and all mortgage holdersa nature that cannot reasonably be cured within 30 days, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a such time as is reasonably necessary to cure the default provided that Landlord commenced its efforts to cure within the initial thirty (30) day period after receipt of the Notice of Default in which and continues to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete diligently pursue such cure as is necessary so long as Landlord’s cure efforts are diligent thereafter (but in no event shall such time exceed 180 days). Any and continuous. if Landlord has not begun the cure within thirty all remedies set forth in this Lease: (30i) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is addition to any and all other remedies Tenant may have at law or in default under this Leaseequity, then the mortgage holder(s(ii) shall have an additional thirty be cumulative, and (30iii) days, after receipt may be pursued successively or concurrently as Tenant may elect. The exercise of a second written notice from Tenant, within which to cure such default or, if such default canany remedy by Tenant shall not be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousdeemed an election of remedies or preclude Tenant from exercising any other remedies in the future.
Appears in 1 contract
Samples: Office Lease (Telvent Git S A)
Landlord’s Default. A. If Tenant asserts that Landlord Xxxxxxxx has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“"Notice of Default”") to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addressesaddress(es) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if If Landlord has not begun and pursued with reasonable diligence the cure of any failure of Landlord to meet its obligations under this Lease within thirty twenty (3020) days of receipt of the Notice of Default, or then subject to the right of any mortgagee to cure a default of Landlord does not thereafter diligently and continuously attempt to cureas set forth in paragraph 26.B below, then Landlord shall be in default under this Lease. default.
B. If Landlord is in shall have failed to begin and pursue with reasonable diligence the cure of such default under this Leasewithin the time set forth above, then the mortgage holder(s) shall have an additional thirty sixty (3060) days, days after receipt of a second written notice from Tenantnotice, as described in the preceding paragraph, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary. If within such sixty (60) days after receipt of written notice any mortgage holder 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 a cure, this Lease and Lease Term shall not be terminated while such remedies are being so long as their efforts are diligent diligently pursued or thereafter if actually cured.
C. Notwithstanding any other provision contained in this Lease to the contrary, the liability of Landlord and continuousits employees, agents, representatives, trustees, partners and officers to Tenant and its partners, trustees, employees, agents, representatives, officers, clients, contractors, invitees, guests, visitors and customers for any default by Landlord under this Lease shall be limited to the interest of Landlord in the Building. Neither Landlord, nor Xxxxxxxx's partners, trustees, employees, agents, Managing Agents, representatives, officers, directors, clients contractors, invitees, guests, visitors or customers shall not be liable for any deficiency judgment.
Appears in 1 contract
Samples: Standard Office Lease (Jacksonville Bancorp Inc /Fl/)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged failure to perform, and breach or default. Tenant shall send have no right to terminate this Lease for any breach or default by certified mailLandlord hereunder and no right, return receipt requestedfor any such breach or default, a copy to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of such Notice of Default to business or any and all mortgage holdersother indirect, provided special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary so long as their efforts are diligent and continuousto cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).
Appears in 1 contract
Samples: Lease Agreement (Dexcom Inc)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any The occurrence of its obligations the following constitutes a “Landlord’s Default” under this Lease, : Landlord’s failure to perform any obligation required to be performed by Landlord hereunder after (a) Tenant shall provide gives written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default failure, (b) Landlord fails to any commence and all mortgage holders, provided that Tenant has been previously advised of diligently prosecute the addresses) cure of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure failure within thirty (30) days (or three (3) days in the event of receipt a failure threatening the health or safety of the Notice occupants of Defaultthe Building) of such notice, (c) Tenant gives a second written notice to Landlord of such failure and (d) Landlord fails to commence and diligently prosecute the cure of such failure within ten (10) days (or Landlord does not thereafter diligently and continuously attempt three (3) days in the event of a failure threatening the health or safety of the occupants of the Building) of such second notice; provided, that if the nature of Landlord’s obligation is such that more than the designated time to cure such failure is required to effect such cure, then Landlord shall not be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent Landlord is diligently pursuing such cure to completion. In the event of a Landlord’s Default, Tenant’s sole remedy shall be an action for damages or injunctive relief and continuousthe right to cure Landlord’s default at Tenant’s expense and set off against Rent coming due, subject to this Paragraph 21; provided, however, that Tenant shall have no right to terminate or rescind this Lease upon the occurrence of a Landlord’s Default.
Appears in 1 contract
Landlord’s Default. If Tenant asserts that Landlord has failed agrees to meet deliver to any of its obligations under this Lease, Tenant shall provide written notice (“Notice Landlord's mortgagees and to the holder of Default”) to Landlord specifying any trust deed concerning the alleged failure to perform, and Tenant shall send by certified mail, return receipt requestedPremises, a copy of any notice of default served upon Landlord, provided that prior thereto Tenant has been notified, in writing, (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of such mortgagees and/or trust deed holders. Anything contained herein to the contrary notwithstanding, Tenant agrees that if Landlord shall fail to cure the default recited in such Notice of Default to any and all mortgage holders, within the time provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to curefor herein, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) such mortgagees and/or trust deed holders shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such default ordefault, provided, however, that if such default cannot be cured within that timesaid thirty (30) days, then such mortgagees and/or trust deed holders shall have such additional time as may be necessary to cure such default, if within said thirty (30) days, such mortgagee and/or trust deed holder have commenced and are diligently pursuing the cure of such default, (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). This Lease shall not be terminated by Tenant while such remedies and cures are being so long as their efforts are diligent and continuouspursued.
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Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in breach of, or in default in the performance of, any of its obligations under this LeaseLease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, Tenant shall provide or such additional time as is reasonably required to correct any such breach or default, after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord’s alleged breach or default; provided, however, that the notice and cure period set forth in this sentence shall not apply to any failure to performdeliver the Premises to Tenant by February 28, 2024 (i.e., one hundred eighty (180) days after the Delivery Date) for reasons other than Force Majeure or Tenant Delay. Except as provided in Section 3.1, Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. Except as provided in Section 3.1 with regards to damages incurred by Tenant under the Existing Lease, in no event shall Landlord ever be liable to Tenant, and Tenant shall send hereby waives any claim against Landlord, for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure breach or default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such breach or default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such breach or default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary so long as their efforts are diligent and continuousto cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).
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Landlord’s Default. If In the event of any act or omission of ------------------ Landlord constituting a default by Landlord, other than Landlord's failure to have the Improvements substantially completed on a timely basis as provided in Article II and to make the same fully available to Tenant asserts that Landlord has failed to meet any of its obligations under this Leaseas therein provided, Tenant shall provide not exercise any remedy until Tenant has given Landlord and any mortgagee whose name and address have been previously provided to Tenant prior written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice act or omission and until a 30-day period of Default time to any and all mortgage holders, provided that Tenant has been previously advised of allow Landlord or the addresses) mortgagee to remedy such act or omission shall have elapsed following the giving of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlordnotice; provided, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default orhowever, if such default act or omission cannot with due diligence and in good faith be cured remedied within that timesuch 30- day period, then Landlord and/or mortgagee shall be allowed such additional further period of time as may be reasonably necessary so long provided that it shall have commenced remedying the same with due diligence and in good faith within said 30-day period. In the event any act or omission of Landlord which constitutes a Landlord's default hereunder results in an immediate threat of bodily harm to Tenant's employees, agents or invitees or damage to Tenant's property, or exposes Tenant to criminal liability, Tenant may proceed to cure the default without prior notice to Landlord or its mortgagee; provided, however, in that event Tenant shall give written notice to Landlord and its mortgagee as their efforts are diligent and continuoussoon as possible after commencement of such cure. Nothing herein contained shall be construed or interpreted as requiring any mortgagee to remedy such act or omission.
Appears in 1 contract
Samples: Lease (Applied Micro Circuits Corp)
Landlord’s Default. If Tenant asserts that Should Landlord has failed to meet be in default under any of its obligations under the terms, covenants or conditions of this Lease, Tenant shall provide give Landlord prompt written notice (“Notice of Default”) to Landlord specifying the alleged failure to performthereof, and Tenant shall send by certified mailallow Landlord a reasonable length of time in which to cure such default, return which time shall not, in any event be less than thirty (30) days from the date of Landlord’s receipt requested, a copy of such Notice notice. If the default cannot be cured within such thirty (30) days, no event of Default default shall be deemed to any and all mortgage holders, provided that Tenant has been previously advised of have occurred so long as Landlord shall commence the addresses) curing of such mortgage holder(s). Landlord shall have a default within the thirty (30) day period and shall thereafter diligently continue the curing of same. In the event Landlord fails to cure any such default within the period prescribed in this Section, or fails to diligently cure any such default, then, after receipt written notice from Tenant to Landlord, Tenant may, but shall not be obligated to, perform any such obligations of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as upon demand reimburse Tenant for all reasonable costs incurred by Tenant in curing same. Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt reimbursement obligation shall survive expiration or termination of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Notwithstanding Tenant’s right to elect to cure a Landlord is default hereunder, in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt event of a second written notice from Tenantdefault by Landlord hereunder, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent Tenant reserves all rights and continuousremedies at law or in equity.
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Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. , if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If , if Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuous.. Landlord’s Options. If Tenant is in default of this Lease, Landlord may, at its option, in addition to such other remedies as may be available under the law of the State where the Center is located:
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Landlord’s Default. If Tenant asserts that Landlord has failed In the event of Landlord's failure to meet perform any of its obligations covenants or agreements under this Lease, Tenant shall provide give Landlord written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default failure and shall give Landlord thirty (30) days to cure or to commence to cure such failure prior to any and all mortgage holdersclaim for breach or for damages resulting from such failure, provided provided, however, that Tenant has been previously advised of if the addresses) nature of such mortgage holder(s). Landlord shall have a default is such that the same cannot reasonably be cured within such thirty (30) day period after receipt of Landlord shall not be deemed to be in default if Landlord shall within such period commence such cure and thereafter diligently prosecute the Notice of Default in which same to commence curing completion. In addition, upon any non-performance such failure by Landlord, Tenant shall give notice by registered or certified mail to any person or entity with a security interest in the Premises that has provided Tenant with notice of its interest in the Premises ("Mortgagee"), and Landlord shall provide such Mortgagee a reasonable opportunity to cure such failure. Xxxxxx agrees that each of the Mortgagees to whom this Lease has been assigned is an expressed third party beneficiary hereof. Tenant shall not make any prepayment of rent more than one (1) month in advance without the prior written consent of such Mortgagee, except as set forth in Article 24. Tenant waives any right under California Civil Code Section 1950.7 or any other present or future law to the collection of any payment or deposit from such Mortgagee or any purchaser at a foreclosure sale of such Mortgagee's interest unless such Mortgagee or such purchaser shall have as much time thereafter actually received and not refunded the applicable payment or deposit. If Landlord fails to complete perform Landlord's maintenance obligations. Tenant shall after thirty (30) days prior written notice to Landlord (except in the case of emergency, in which case no notice shall be required), have the right (but not the obligation) to perform such cure as is necessary so long as obligation on Landlord’s cure efforts are diligent 's behalf and continuous. if Landlord has not begun the cure cost thereof shall be due and payable to Tenant within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuousthereof.
Appears in 1 contract
Samples: Declaration of Reciprocal Easement, Easements and Covenants (Terayon Communication Systems)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a period of thirty (30) day period after receipt days from the date of the Notice written notice from Tenant of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s default (any such notice, a “Landlord Default Notice”) to cure efforts are diligent and continuous. any default by Landlord under this Lease; provided, however, that with respect to any default that cannot reasonably be cured within thirty (30) days, the default shall not be deemed to be uncured if Landlord has not begun the commences to cure within thirty (30) days of from receipt of the Landlord Default Notice and continues to prosecute diligently the curing thereof. Tenant agrees to give any Mortgagee, by registered or certified mail, a copy of Defaultany Landlord Default Notice served upon the Landlord, or Landlord does not thereafter diligently and continuously attempt provided that prior to cure, then Landlord shall be such notice Tenant has been notified in default under this Leasewriting of the address of such Mortgagee. If Landlord is fails to cure such default within the time provided for in default under this Lease, then the mortgage holder(s) Mortgagee shall have an additional thirty (30) days, days after receipt the expiration of a second written notice from Tenant, such cure period within which to cure such default or(provided that Tenant notifies Mortgagee concurrently with Tenant’s delivery of the Landlord Default Notice to Landlord; otherwise, if Mortgagee shall have thirty (30) days from the later of the date on which it receives notice of the default from Tenant and the expiration of Landlord’s cure period). If such default cannot be cured within that timeby Mortgagee within, then such additional time as the cure period, Tenant may be necessary not exercise any of its remedies so long as their efforts are diligent Mortgagee has commenced and continuousis diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure).
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Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in -------------------------------- default in the performance of any of its obligations under this Lease, Tenant Lease unless Landlord shall provide fail to perform such obligations and such failure shall continue for a period of thirty days (or such additional time as is reasonably required to correct any such default) after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord's alleged failure to perform, and default. Tenant shall send by certified mailhave no right, return receipt requestedfor any default of Landlord hereunder, a copy of such Notice of Default to offset or to interpose any and all mortgage holderscounterclaim in any action or proceeding commenced with respect to this Lease or the tenancy created hereunder, provided that Tenant has been previously advised whether to collect any rent due hereunder or to obtain possession of the addresses) of such mortgage holder(s)Premises or otherwise. Tenant further agrees that if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such default cannot thereafter diligently and continuously attempt to curebe cured within said time, then Landlord shall within such additional time as may be in default under this Lease. If Landlord is in default under this Leasereasonably necessary to cure such default), then the mortgage holder(s) of any Mortgage(s) entitled to notice pursuant to Subsection 9.2.4 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such default or, or if such default cannot be cured within that time, then such additional time following the date that such holder becomes entitled to cure such default as may be reasonably necessary to cure such default (including commencement and prosecution of foreclosure proceedings, if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being so long as their efforts are diligent and continuousdiligently pursued.
Appears in 1 contract
Samples: Lease Agreement (Yurie Systems Inc)
Landlord’s Default. 1. If Tenant asserts that Landlord has failed to meet Landlord, during the Term, shall default in the performance or observance of any of its obligations under agreement, obligation, or condition in this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete not cure such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure default within thirty (30) days of after receipt of written notice thereof (the Notice of Default"Default Notice") from Tenant, or Landlord does shall not within said period commence to cure and thereafter diligently and continuously attempt prosecute the curing of such default to curecompletion, then Tenant may, at its option, after it has given Landlord at least five (5) days prior written notice of its intent to cure (the "Self-Help Notice"), cure such default in the name of and for the account of Landlord. The Self-Help Notice maybe sent any time after the expiration of 25 days following the Default Notice.
2. Tenant may cure any such default prior to the expiration of said waiting period, but after said notice to Landlord in the event of an emergency.
3. Landlord shall be in default under this Leaseimmediately reimburse Tenant on demand for such payments and save the Tenant harmless. If Landlord is shall fail to reimburse Tenant upon demand for any amount paid for the account of Landlord hereunder, said amount may be deducted by Tenant from the next or any succeeding payments of Base Rent due hereunder until Tenant has been fully reimbursed. In the event that Tenant wrongly invokes its right herein contained, Landlord's relief shall be the payment by Tenant of all installment of Base Rent withheld by it plus a penalty fee of five percent (5%) of the amount of Base Rent withheld.
4. Tenant may abandon any cure of a default by Landlord at any time without penalty.
5. This Article does not supersede or conflict with the duties, rights and remedies of the parties which are specifically addressed in default under other Articles of this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent and continuous.
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Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default not be deemed to be in which to commence curing any non-performance by Landlord, and Landlord default hereunder unless such default shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within remain uncured for more than thirty (30) days following written notice from Tenant to Landlord specifying the nature of receipt of the Notice of Defaultsuch default, or such longer period as may be reasonably required to correct such default Landlord’s liability to keep, maintain, and repair shall always be limited to the cost of making such repair or accomplishing such maintenance or repair. In no event whatsoever shall Landlord does not thereafter diligently be liable for consequential or any indirect damages. The provisions of this Section are further subject to the provisions of Articles X and continuously attempt to cureXI dealing with eminent domain and fire and other casualty, then Landlord shall be in default under this Leaseand Section 6.3 dealing with interruption of services. If Landlord is fails to cure any default by Landlord within the period provided above in default under this LeaseSection, then the mortgage holder(s) shall have Tenant may give Landlord an additional thirty (30) days, after receipt of a second written notice from Tenantconfirming that the default has not been cured and that Tenant intends to cure such default, within which and, if Landlord fails to cure such default orwithin ten (10) days after such notice, Tenant may, without waiving the default, take such steps as are reasonably appropriate to cure the default, recover from Landlord the reasonable cost of such cure, and, if Landlord concedes, or a court determines, Tenant’s right to recover such cost, setoff such cost against the Base Rent and Additional Rent next coming due. In no event shall Tenant have the right to terminate this Lease by reason of a default cannot be cured within that timeby Landlord, then such additional time except as may be necessary so long as their efforts are diligent and continuousexpressly provided herein.
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Landlord’s Default. If In the event of any act or omission of Landlord ------------------ constituting a default by Landlord, other than Landlord's failure to have the Improvements substantially completed on a timely basis as provided in Article II and to make the same fully available to Tenant asserts that Landlord has failed to meet any of its obligations under this Leaseas therein provided, Tenant shall provide not exercise any remedy until Tenant has given Landlord and any mortgagee whose name and address have been previously provided to Tenant prior written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice act or omission and until a 30-day period of Default time to any and all mortgage holders, provided that Tenant has been previously advised of allow Landlord or the addresses) mortgagee to remedy such act or omission shall have elapsed following the giving of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlordnotice; provided, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default orhowever, if such default act or omission cannot with due diligence and in good faith be cured remedied within that timesuch 30-day period, then Landlord and/or mortgagee shall be allowed such additional further period of time as may be reasonably necessary so long provided that it shall have commenced remedying the same with due diligence and in good faith within said 30-day period. In the event any act or omission of Landlord which constitutes a Landlord's default hereunder results in an immediate threat of bodily harm to Tenant's employees, agents or invitees or damage to Tenant's property, or exposes Tenant to criminal liability, Tenant may proceed to cure the default without prior notice to Landlord or its mortgagee; provided, however, in that event Tenant shall give written notice to Landlord and its mortgagee as their efforts are diligent and continuoussoon as possible after commencement of such cure. Nothing herein contained shall be construed or interpreted as requiring any mortgagee to remedy such act or omission.
Appears in 1 contract
Samples: Lease (Applied Micro Circuits Corp)
Landlord’s Default. If Tenant asserts that Landlord has failed to meet any of its obligations shall not be in default under this Lease, Tenant shall provide written notice (“Notice Lease unless Landlord fails to perform obligations required of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days after written notice is delivered by Tenant to Landlord and to the holder of receipt any mortgages or deeds of trust (collectively, “Lender”) covering the Notice Premises whose name and address shall have theretofore been furnished to Tenant in writing, specifying the obligation which Landlord has failed to perform; provided, however, that if the nature of Default, or Landlord does not thereafter diligently and continuously attempt to cureLandlord’s obligation is such that more than thirty (30) days are required for performance, then Landlord shall not be in default if Landlord or Lender commences performance within such twenty (20) Business Day period and thereafter diligently prosecutes the same to completion. All obligations of Landlord hereunder shall be construed as covenants, not conditions. In the event of any default, breach or violation of Tenant’s rights under this Lease by Landlord, Tenant may exercise any right or remedy available to Tenant under law or equity except as otherwise expressly provided in this Lease. If Notwithstanding anything to the contrary contained herein, if, in Tenant’s reasonable judgment, an emergency shall exist which threatens imminent danger to or loss of life or damage to Tenant’s property, Tenant shall use reasonable efforts to contact Landlord is in default and Manager, and if Landlord or Manager fail to commence the cure of such emergency within a reasonable time under this Leasethe circumstances, then the mortgage holder(s) shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to Tenant may cure such default oremergency. In the event Tenant takes such action, if Tenant shall use only those contractors used by Landlord in the Building for work unless such default cannot be cured within that timecontractors are unavailable due to the “emergency” nature of the work or are unwilling or unable to perform, then or timely perform, such additional time as work, in which event Tenant may be necessary so long as their efforts are diligent utilize the services of any other qualified, union contractor which normally and continuous.regularly performs similar work in
Appears in 1 contract
Samples: Lease (Mattersight Corp)
Landlord’s Default. If Tenant asserts that Should Landlord has failed to meet breach any of its duties or obligations under this Leaseto Tenant and, Tenant shall provide in the case of a monetary default, the breach continues for five (5) business days after written notice (“Notice is given to Landlord, or in the case of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which to commence curing any non-performance by Landlordmonetary default, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within breach continues for thirty (30) days (or such longer period of receipt time as it may reasonably take to cure provided Landlord promptly and diligently pursues the cure and is not otherwise in default) after written notice of the Notice of Defaultbreach is given to Landlord, or Tenant may take such action as is reasonably necessary to cure the breach. In this event, Landlord does not thereafter diligently shall, upon demand (accompanied by reasonable documentation supporting the demand) reimburse the Tenant for expenses reasonably incurred by Xxxxxx in curing Landlord's breach, including legal expenses and continuously attempt to cure, then Landlord shall be in default under this Leasereasonable attorney fees. If Landlord is in default shall fail to promptly reimburse Tenant, Tenant may withhold or xxxxx its rental payment due to the extent of the unreimbursed expenses. In the event of any dispute about Xxxxxx's right to xxxxx or withhold rent or other sums payable to Landlord under this LeaseSection, then Tenant must deposit the mortgage holder(s) disputed amounts in escrow in an interest-bearing account with a national bank in Raleigh, North Carolina, conditioned on resolution of the dispute by a final, nonappealable court order or by mutual written agreement of Landlord and Xxxxxx. Any interest earned shall be paid to the party entitled to the escrowed funds and any fees of the escrow agent shall be paid by the party not entitled to the escrowed funds. Regardless of the outcome or resolution of the dispute, no Event of Default with respect to the subject matter of the dispute shall be deemed to have an additional thirty (30) days, after receipt of a second written notice from Tenant, within which to cure such default or, if such default cannot be cured within that time, then such additional time as may be necessary occurred so long as their efforts the disputed amounts are diligent and continuousdeposited in escrow by Xxxxxx.
Appears in 1 contract
Samples: Lease Agreement (Larscom Inc)
Landlord’s Default. If Tenant asserts that Landlord shall not be deemed to be in default in the performance of any obligation under this Lease unless and until it has failed to meet any perform such obligation within thirty (30) days after receipt of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) by Tenant to Landlord specifying such failure; provided, however, that if the alleged failure to performnature of Landlord's default is such that more than thirty (30) days are required for its cure, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) of such mortgage holder(s). then Landlord shall have a not be deemed to be in default if it commences such cure within the thirty (30) day period after receipt and thereafter diligently prosecutes such cure to completion. Tenant agrees to give any Mortgagee a copy, by registered mail, of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise), of the Notice address of Default in which to commence curing any non-performance by Landlord, and such Mortgagee. Tenant further agrees that if Landlord shall have as much failed to cure such default within the time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to cure, then Landlord shall be provided for in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) any such Mortgagee shall have an additional thirty forty-five (3045) days, after receipt of a second written notice from Tenant, days within which to cure such default or, on the part of the Landlord or if such default cannot be cured within that time, then such additional time as may be necessary so long as their efforts are diligent if within that forty-five (45) days the Mortgagee has commenced and continuousis pursuing the remedies necessary to cure such default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).
Appears in 1 contract
Samples: Lease (Exstar Financial Corp)
Landlord’s Default. If Tenant asserts that Landlord has failed shall not be deemed to meet be in default in the performance of any of its obligations under this Lease, Tenant hereunder unless it shall provide fail to perform such obligations and such failure shall continue for a period of thirty (30) days or such additional time as is reasonably required to correct any such default after written notice (“Notice of Default”) has been given by Tenant to Landlord specifying the nature of Landlord's alleged failure to perform, and default. Tenant shall send have no right to terminate this Lease for any default by certified mailLandlord hereunder and no right, return receipt requestedfor any such default, a copy to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of such Notice of Default to business or any and all mortgage holdersother indirect, provided special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that Tenant has been previously advised of the addresses) of such mortgage holder(s). if Landlord shall have a thirty (30) day period after receipt of the Notice of Default in which failed to commence curing cure any non-performance by Landlord, and Landlord shall have as much time thereafter to complete such cure as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure default within thirty (30) days of receipt of the Notice of Default, such notice to Landlord (or Landlord does if such default cannot thereafter diligently and continuously attempt to curebe cured within said time, then within such additional time as may be necessary if within said thirty days Landlord shall be in default under this Lease. If Landlord has commenced and is in default under this Leasediligently pursuing the remedies necessary to cure such default), then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days, after receipt of a second written notice from Tenant, days within which to cure such default or, or if such default cannot be cured within that time, then such additional time as may be necessary if within such thirty (30) days any such holder or lessor 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), in which event this Lease shall not be terminated while such remedies are being so long as their efforts are diligent diligently pursued. Where provision is made in this Lease for Landlord's consent and continuousTenant shall request such consent and Landlord shall fail or refuse to give such consent, Tenant shall not be entitled to any damages for any withholding by Landlord of its consent, it being intended that Tenant's sole remedy shall be an action for specific performance or injunction, and that such remedy shall be available only in those cases where Landlord is expressly required not to withhold its consent unreasonably.
Appears in 1 contract
Samples: Lease (Perficient Inc)