Common use of Landlord’s Right to Cure Tenant’s Default Clause in Contracts

Landlord’s Right to Cure Tenant’s Default. Landlord, at any time after Tenant commits a default, may, but shall not be obligated to, cure the default at Tenant's cost. If Landlord at any time, by reason of Tenant's default, pays any sum or does any act that requires the payment of any sum, the sum paid by Landlord shall be due immediately from Tenant to Landlord and shall bear interest at the rate of twelve percent (12%) per annum or the maximum rate permitted by law, whichever is less, from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant. Amounts due Landlord hereunder shall be additional rent.

Appears in 6 contracts

Samples: Lease (Exodus Communications Inc), Lease (Integrated Sensor Solutions Inc), Lease (Novacept Inc)

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Landlord’s Right to Cure Tenant’s Default. Landlord, at any time after Tenant commits a default, may, but shall not be obligated to, cure the default at Tenant's ’s cost. If Landlord at any time, by reason of Tenant's ’s default, pays any sum or does any act that requires the payment of any sum, the sum paid by Landlord shall be due immediately from Tenant to Landlord and shall bear interest at the rate of twelve percent (12%) per annum or the maximum rate permitted by law, whichever is less, from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant. Amounts due Landlord hereunder shall be additional rent.

Appears in 3 contracts

Samples: Industrial Lease (Airxpanders Inc), Standard Industrial Lease (Southwall Technologies Inc /De/), Standard Industrial Lease (Southwall Technologies Inc /De/)

Landlord’s Right to Cure Tenant’s Default. Landlord, at any time ----------------------------------------- after Tenant commits a default, may, but shall not be obligated to, cure the default at Tenant's cost. If Landlord at any time, by reason of Tenant's default, pays any sum or does any act that requires the payment of any sum, the sum paid by Landlord shall be due immediately from Tenant to Landlord and shall bear interest at the rate of twelve percent (12%) per annum or the maximum rate permitted by law, whichever is less, from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant. Amounts due Landlord hereunder shall be additional rent.

Appears in 2 contracts

Samples: Lease (Atmi Inc), Sublease (Ebay Inc)

Landlord’s Right to Cure Tenant’s Default. Landlord, at any time after Tenant commits a default, may, but shall not be obligated to, can cure the default at Tenant's cost. If Landlord at any time, by reason of Tenant's default, pays any sum or does any act that requires the payment of any sum, the sum paid by Landlord shall be due immediately from Tenant to Landlord at the time the sum is paid, and if paid at a later date shall bear interest at the rate of twelve percent (12%) 21.6% per annum annum, or the maximum rate permitted allowed by law, whichever is less, from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant. Amounts due Landlord hereunder The sum together with interest thereon, shall be additional rent.

Appears in 1 contract

Samples: Lease (TCS Enterprises Inc)

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Landlord’s Right to Cure Tenant’s Default. Landlord, at any time after Tenant commits a default, may, but shall not be obligated to, can cure the default at Tenant's cost. If Landlord at any time, by reason of Tenant's default, pays any sum or does any act that requires the payment of any sum, the sum paid by Landlord shall be due immediately from Tenant to Landlord at the time the sum is paid, and if paid at a later date shall bear interest at the rate of twelve eighteen percent (1218%) per annum or the maximum rate permitted by law, whichever is less, from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant. Amounts due Landlord hereunder This sum, together with interest on it, shall be additional rent.

Appears in 1 contract

Samples: Assignment and Assumption of Lease (Novellus Systems Inc)

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