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

Landlord’s Right to Cure. In the event of any noncompliance hereunder by Landlord, Tenant shall, before exercising any right or remedy available to it, give Landlord written notice of such noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the thirty (30) days following the giving of the notlce(s) required by the foregoing portion of this Article XVI (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within thirty (30) days), Landlord shall have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such lender shall have an additional thirty (30) days within which to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary, if within such thirty (30) day period said lender has commenced and is diligently pursuing the actions or remedies necessary to cure the noncompliance involved (including, but not limited to, commencement and prosecution of proceedings to foreclose or otherwise exercise its rights under its mortgage or other security instrument, if necessary to effect such cure), in which event this Lease shall not be terminated by Tenant so long as such actions or remedies are being diligently pursued by said lender. Landlord shall not be liable to Tenant for any default under this Lease which occurs after the sale of the Building by Landlord, and Tenant agrees that its rights with respect to any such default, if asserted, shall be asserted against Landlord’s successor in interest, and not against Landlord.

Appears in 1 contract

Samples: Lease Agreement (CHG Healthcare Services, Inc.)

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Landlord’s Right to Cure. In If Tenant shall default in the event performance or observance of any noncompliance hereunder by agreement or condition in the Lease contained on its part to be performed or observed, other than in the payment of any minimum monthly rent, additional rent, or other charges, Landlord, Tenant shall, before exercising any right or remedy available to it, give Landlord after written notice of such noncompliance. If prior by Landlord to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) specifying the nature of the address default and upon the expiration of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the thirty (30) days following after the giving delivery of said notice unless the notlce(s) required by the foregoing portion of this Article XVI (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, default cannot reasonably be rectified cured within thirty (30) days), Landlord shall have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such lender shall have an additional said thirty (30) days within which due to causes beyond Tenant's control, then upon failure of Tenant to commence to cure said default within a reasonable time after the same ordelivery of said notice, and prosecute the curing of said default to completion with due diligence may, at its option, but without obligation to do so, cure any such default for the account of Tenant and any amount and any expense paid by Landlord in so doing with interest thereon at the rate per annum of four percent above the "prime rate" of Eastern Bank (or any successor thereto) shall be charged by Landlord as additional rent and added to the installment or installments of rent thereafter accruing and Tenant agrees to pay such additional rent to Landlord on demand, and for recovery of which Landlord shall have the remedies provided in this Lease for nonpayment of minimum rent. Notwithstanding the foregoing, Landlord may cure any such default prior to the expiration of the waiting period after such notice to Tenant, if the curing of such default cannot be cured within that period, such additional time as may be necessary, if within such thirty (30) day period said lender has commenced and is diligently pursuing the actions or remedies reasonably necessary to cure protect the noncompliance involved (including, but not limited to, commencement demised premises or Landlord's interest therein or to prevent injury or damage to persons or property. All of the rights and prosecution of proceedings remedies given to foreclose or otherwise exercise its rights under its mortgage or other security instrument, if necessary to effect such cure), Landlord in which event this Lease or by law or equity shall be cumulative and concurrent. The failure of Landlord to insist in anyone or more cases upon the strict performance of any of the covenants of this Lease, or to exercise any option herein contained, shall not be terminated by Tenant so long construed as a waiver or relinquishment for the future of such actions covenant or remedies are being diligently pursued by said lender. Landlord shall not be liable to Tenant for any default under this Lease which occurs after the sale of the Building by Landlord, and Tenant agrees that its rights with respect to any such default, if asserted, shall be asserted against Landlord’s successor in interest, and not against Landlordoption.

Appears in 1 contract

Samples: Lease Indenture (Ventures National Inc)

Landlord’s Right to Cure. In the event of If Tenant shall fail or neglect to do or perform any noncompliance hereunder by Landlord, Tenant shall, before exercising any right covenant or remedy available to it, give Landlord written notice of condition required under this Lease and such noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the thirty (30) days following the giving of the notlce(s) required by the foregoing portion of this Article XVI (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within thirty (30) days), Landlord failure shall have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such lender shall have an additional thirty (30) days within which to cure the same or, if such default cannot be cured within that any applicable grace period, such additional time as may be necessaryLandlord may, if within such thirty on five (305) day period said lender has commenced and is diligently pursuing the actions or remedies necessary business days written notice to cure the noncompliance involved (includingTenant, but not limited to, commencement and prosecution of proceedings to foreclose or otherwise exercise its rights under its mortgage or other security instrument, if necessary to effect such cure), in which event this Lease shall not be terminated required to, make any payment payable by Tenant hereunder, discharge any lien, take out, pay for and maintain any insurance required hereunder, or do or perform or cause to be done or performed any such other act or thing (entering upon the Premises for such purposes, if Landlord shall so long as such actions elect), and Landlord shall not be or remedies are being diligently pursued be held liable or in any way responsible for any loss, disturbance, inconvenience, annoyance or damage resulting to Tenant on account thereof. Tenant shall repay to Landlord within twenty (20) days after demand the entire out-of-pocket cost and expense incurred by said lenderLandlord in connection with the cure, including, without limitation, compensation to the agents, consultants and contractors of Landlord and reasonable attorneys’ fees and expenses. Landlord may act upon shorter notice or no notice at all if necessary in Landlord’s reasonable judgment to meet an emergency situation or governmental or municipal time limitation or to protect Landlord’s interest in the Premises. Landlord shall not be liable required to Tenant for any default under this Lease which occurs after inquire into the sale correctness of the Building amount of validity or any tax or lien that may be paid by Landlord, Landlord and Tenant agrees that its rights with respect to Landlord shall be duly protected In paying the amount of any such defaulttax or lien claimed and in such event Landlord also shall have the full authority, if asserted, shall be asserted against in Landlord’s successor in interestsole judgment and discretion and without prior notice to or approval by Tenant, and to settle or compromise any such lien or tax. Any act or thing done by Landlord pursuant to the provisions of this Section shall not against Landlordbe or be construed as a waiver of any such failure by Tenant, or as a waiver of any term, covenant, agreement or condition herein contained or of the performance thereof.

Appears in 1 contract

Samples: Commercial Lease (Tesla Motors Inc)

Landlord’s Right to Cure. In the event of any noncompliance hereunder by LandlordLANDLORD, Tenant TENANT shall, before exercising any right or remedy available to it, give Landlord LANDLORD written notice of such noncompliance. If prior to its giving such notice Tenant TENANT has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of a lender Lender which has furnished any of the financing referred to in Article XVII Section 17 hereof, concurrently with giving the aforesaid notice to LandlordLANDLORD, Tenant TENANT shall, by registered mailor certified mail postage prepaid, transmit a copy thereof to such lenderLender. For the thirty (30) days following the giving of the notlce(snotice(s) required by the foregoing portion of this Article XVI Section 16 (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within thirty (30) days), Landlord LANDLORD shall have the right to cure the noncompliance involved. If Landlord LANDLORD has failed to effect such cure within such period, any such lender Lender shall have an additional thirty (30) days within which to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary, if within such thirty (30) day period said lender Lender has commenced and is diligently pursuing the actions or remedies necessary to cure the noncompliance involved (including, but not limited to, commencement and prosecution of proceedings to foreclose or otherwise exercise its rights under its mortgage or other security instrument, if necessary to effect such cure), in which event this Lease shall not be terminated by Tenant TENANT so long as such actions or remedies are being diligently pursued by said lenderLender. Landlord LANDLORD shall not be liable to Tenant TENANT for any default under this Lease which occurs after the sale of the Building by LandlordLANDLORD, and Tenant TENANT agrees that its rights with respect to any such default, if asserted, shall be asserted against Landlord’s LANDLORD'S successor in interest, and not against LandlordLANDLORD.

Appears in 1 contract

Samples: Lease Agreement (Sportsnuts Com International Inc)

Landlord’s Right to Cure. In If Tenant shall at any time default, beyond applicable notice and cure periods, in the event performance of any noncompliance hereunder by Landlordmaterial obligation under this Lease, Tenant shallLandlord shall have the right, before exercising any right or remedy available to itbut shall not be obligated, give Landlord upon ten (10) days prior written notice of such noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the thirty (30) days following the giving of the notlce(s) required by the foregoing portion of this Article XVI (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within for non-material obligations upon thirty (30) days’ notice to Tenant (except in the event of an emergency where at least verbal notice will be given as soon as reasonably possible), to enter upon the Premises and to perform such obligation, notwithstanding the fact that no specific provision for such substituted performance by Landlord shall have is made in this Lease with respect to such default. In performing such obligation, Landlord may make any payment of money or perform any other act. All reasonable sums so paid by Landlord (together with interest at the right to cure rate set forth in Section 4.3 hereof), and all necessary incidental costs and expenses in connection with the noncompliance involved. If Landlord has failed to effect such cure within such period, performance of any such lender acts by Landlord, shall have an be deemed to be additional thirty (30) days within which to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary, if within such thirty (30) day period said lender has commenced and is diligently pursuing the actions or remedies necessary to cure the noncompliance involved (including, but not limited to, commencement and prosecution of proceedings to foreclose or otherwise exercise its rights under its mortgage or other security instrument, if necessary to effect such cure), in which event this Lease shall not be terminated by Tenant so long as such actions or remedies are being diligently pursued by said lender. Landlord shall not be liable to Tenant for any default rent under this Lease which occurs after and shall be payable to Landlord immediately on demand. Landlord may exercise the sale foregoing rights without waiving any other of its rights or releasing Tenant from any of its obligations under this Lease. 10.12 ESTOPPEL CERTIFICATE Tenant agrees on the Building Commencement Date, and from time to time thereafter, upon not less than twenty (20) days prior written request by Landlord, to execute, acknowledge and Tenant deliver to Landlord a statement in writing in substantially the form attached hereto as Exhibit “K” with such adjustments as are necessary to make the same accurate. Landlord agrees that its rights with respect to any such default, if asserted, shall be asserted against Landlord’s successor in intereston the Commencement Date, and from time to time thereafter, upon not against Landlord.less than twenty (20) days prior written request by Tenant, to execute, acknowledge and deliver to Tenant a statement in writing in substantially the form attached hereto as Exhibit “K”. 10.13

Appears in 1 contract

Samples: And Attornment Agreement (ConforMIS Inc)

Landlord’s Right to Cure. In If Tenant shall default in the event performance or observance of any noncompliance hereunder by agreement or condition in the Lease contained on its part to be performed or observed, other than in the payment of any minimum monthly rent, additional rent, or other charges, Landlord, Tenant shall, before exercising any right or remedy available to it, give Landlord after written notice of such noncompliance. If prior by Landlord to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) specifying the nature of the address default and upon the expiration of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the thirty (30) days following after the giving delivery of said notice unless the notlce(s) required by the foregoing portion of this Article XVI (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, default cannot reasonably be rectified cured within thirty (30) days), Landlord shall have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such lender shall have an additional said thirty (30) days within which due to causes beyond Tenant's control, then upon failure of Tenant to commence to cure said default within a reasonable time after the same ordelivery of said notice, and prosecute the curing of said default to completion with due diligence may, at its option, but without obligation to do so, cure any such default for the account of Tenant and any amount and any expense paid by Landlord in so doing with interest thereon at the rate per annum of four percent above the "prime rate" of Eastern Bank (or any successor thereto) shall be charged by Landlord as additional rent and added to the installment or installments of rent thereafter accruing and Tenant agrees to pay such additional rent to Landlord on demand, and for recovery of which Landlord shall have the remedies provided in this Lease for nonpayment of minimum rent. Notwithstanding the foregoing, Landlord may cure any such default prior to the expiration of the waiting period after such notice to Tenant, if the curing of such default cannot be cured within that period, such additional time as may be necessary, if within such thirty (30) day period said lender has commenced and is diligently pursuing the actions or remedies reasonably necessary to cure protect the noncompliance involved (including, but not limited to, commencement demised premises or Landlord's interest therein or to prevent injury or damage to persons or property. All of the rights and prosecution of proceedings remedies given to foreclose or otherwise exercise its rights under its mortgage or other security instrument, if necessary to effect such cure), Landlord in which event this Lease or by law or equity shall be cumulative and concurrent. The failure of Landlord to insist in any one or more cases upon the strict performance of any of the covenants of this Lease, or to exercise any option herein contained, shall not be terminated by Tenant so long construed as a waiver or relinquishment for the future of such actions covenant or remedies are being diligently pursued by said lenderoption. Landlord shall not be liable to Tenant for any default under this Lease which occurs after the sale of the Building by Landlord, and Tenant agrees that its rights with respect to any such default, if asserted, shall be asserted against Landlord’s successor in interest, and not against Landlord.SECTION SEVENTEEN

Appears in 1 contract

Samples: Lease Indenture (Ventures National Inc)

Landlord’s Right to Cure. In If Tenant fails to perform any covenant within any applicable notice and/or cure period, and (i) such failure can be cured with the event payment of any noncompliance hereunder by Landlord, Tenant shall, before exercising any right money or remedy available the posting of a bond and is not cured within ten (10) business days (or five (5) business days in the case of failure to it, give Landlord maintain insurance under Section 7.1) after written notice from Landlord or (ii) such failure cannot be cured with the payment of such noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, money or otherwise) of the address posting of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the bond and shall continue (x) for more than thirty (30) days following after written notice thereof from Landlord, provided that such thirty-(30)-day period shall be reasonably extended if Tenant commences such cure within such thirty(30) days and thereafter diligently pursues such cure to completion (but in any event shall not exceed ninety (90) days in the giving of the notlce(saggregate) required by the foregoing portion of this Article XVI or (or y) for such longer shorter time period of time as may be reasonably required required, in Landlord’s reasonable judgment, in cases of emergency or risk to cure a matter whichhealth or safety or to comply with Applicable Legal Requirements relating to Hazardous Substances as set forth in Section 9.4, due then Landlord at its option may (without waiving any right or remedy for Tenant’s non-performance), after giving Tenant not less than ten (10) business days’ prior written notice of Landlord’s intent to exercise its natureright to undertake such curative work under this Section 14.3(f) at any time thereafter, canperform the covenant for the account of Tenant, provided that Tenant has not reasonably be rectified then effected such cure. Tenant shall, within thirty (30) days)days after written demand therefor accompanied by reasonable supporting documentation, reimburse Landlord’s reasonable, out-of-pocket costs and expenses (including reasonable attorneys’ fees) incurred by Landlord in so performing such work or effecting such cure, as the case may be, as Additional Rent. Notwithstanding any other provision concerning cure periods, Landlord shall have may cure any non-performance for the right account of Tenant after such notice to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such lender shall have an additional thirty (30) days within which to cure the same orTenant, if such default cannot be cured within that periodany, such additional time as may be necessary, is reasonable under the circumstances if within such thirty (30) day curing prior to the expiration of the applicable cure period said lender has commenced and is diligently pursuing the actions or remedies reasonably necessary to cure prevent likely material damage to the noncompliance involved (includingPremises or Building or possible injury to persons, but not limited to, commencement and prosecution of proceedings or to foreclose or otherwise exercise its rights under its mortgage or other security instrument, if necessary to effect such cure), in which event this Lease shall not be terminated by Tenant so long as such actions or remedies are being diligently pursued by said lender. Landlord shall not be liable to Tenant for any default under this Lease which occurs after the sale of the Building by Landlord, and Tenant agrees that its rights with respect to any such default, if asserted, shall be asserted against protect Landlord’s successor interest in interest, and not against Landlordthe Premises or Building.

Appears in 1 contract

Samples: Cerevel Therapeutics Holdings, Inc.

Landlord’s Right to Cure. In the event of If Landlord shall fail to perform any noncompliance hereunder term or provision under this Lease required to be performed by Landlord, Tenant shallLandlord shall not be deemed to be in default hereunder nor subject to any claims for damages of any kind, before exercising any right or remedy available to it, give Landlord written notice unless such failure shall have continued for a period of such noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the thirty (30) days following after written notice thereof by Tenant; provided, if the giving nature of the notlce(s) required by the foregoing portion of this Article XVI (or Landlord's failure is such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within thirty (30) days), Landlord shall have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such lender shall have an additional that more than thirty (30) days within which are reasonably required in order to cure, Landlord shall not be in default if Landlord commences to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary, if failure within such thirty (30) day period said lender has commenced period, and is diligently pursuing the actions or remedies necessary thereafter reasonably seeks to cure the noncompliance involved (includingsuch failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period of time during which Landlord is delayed in, but not limited toor prevented from, commencement and prosecution of proceedings curing due to foreclose or otherwise exercise its rights under its mortgage fire or other security instrumentcasualty, if necessary 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 effect cure within the times permitted for cure herein, Landlord shall be subject to such cureremedies as may be available to Tenant (subject to the other provisions of this Lease); provided, in which event this Lease recognition that Landlord must receive timely payments of Rent and operate the Property, Tenant shall not be terminated by Tenant so long as such actions have no right of self-help to perform repairs or remedies are being diligently pursued by said lender. Landlord shall not be liable to Tenant for any default under this Lease which occurs after the sale other obligation of the Building by Landlord, and Tenant agrees that its rights with respect shall only have the right to any such defaultwithhold, if assertedset-off, shall be asserted against Landlord’s successor or abatx Xxxt as set forth in interest, and not against Landlordthis Lease.

Appears in 1 contract

Samples: Office Lease (Scpie Holdings Inc)

Landlord’s Right to Cure. In the event of If Landlord shall fail to perform any noncompliance hereunder term or provision under this Lease required to be performed by Landlord, Tenant shallLandlord shall not be deemed to be in default hereunder, before exercising nor subject to any right or remedy available to itclaims for damages of any kind, give Landlord written notice unless such failure shall have continued for a period of such noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the thirty (30) days following after written notice thereof by Tenant to Landlord specifying with particularity the giving nature of Landlord's nonperformance; provided, if the notlce(s) required by the foregoing portion nature of this Article XVI (or Landlord's failure is such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within thirty (30) days), Landlord shall have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such lender shall have an additional that more than thirty (30) days within which are reasonably required in order to cure, Landlord shall not be in default if Landlord commences to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary, if failure within such thirty (30) day period said lender has commenced and is diligently pursuing the actions or remedies necessary thereafter reasonably seeks to cure the noncompliance involved (includingsuch failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period of time during which Landlord is delayed in, but not limited toor prevented from, commencement and prosecution of proceedings curing due to foreclose or otherwise exercise its rights under its mortgage fire or other security instrumentcasualty, if necessary 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 effect cure within the times permitted for cure herein, Landlord shall be subject to such cureremedies as may be available to Tenant (subject to the other provisions of this Lease); provided, in which event this Lease recognition that Landlord must receive timely payments of Rent and operate the Property, Tenant shall not be terminated by Tenant so long have no right of self-help to perform repairs or any other obligation of Landlord and shall have no right to withhold, set-off, or abate Rent, except as such actions or remedies are being diligently pursued by said lender. Landlord shall not be liable to Tenant for any default under this Lease which occurs after the sale of the Building by Landlord, and Tenant agrees that its rights with respect to any such default, if asserted, shall be asserted against Landlord’s successor in interest, and not against Landlordprovided herein.

Appears in 1 contract

Samples: Office Lease (Millers Mutual Fire Insurance Co)

Landlord’s Right to Cure. In Except as expressly provided to the event contrary in any provision of this Lease, if Landlord shall fail to perform any noncompliance hereunder term or provision under this Lease required to be performed by Landlord, Tenant shallLandlord shall not be deemed to be in default hereunder nor subject to any claims for damages of any kind, before exercising any right or remedy available to it, give Landlord written notice unless such failure shall have continued for a period of such noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the thirty (30) days following after written notice thereof by Tenant; provided, if the giving nature of the notlce(s) required by the foregoing portion of this Article XVI (or Landlord's failure is such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within thirty (30) days), Landlord shall have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such lender shall have an additional that more than thirty (30) days within which are reasonably required in order to cure, Landlord shall not be in default if Landlord commences to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary, if failure within such thirty (30) day period said lender has commenced period, and is diligently pursuing the actions or remedies necessary 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 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 noncompliance involved (times permitted for cure herein, Landlord shall be subject to such remedies as may be available to Tenant, including, but not limited towithout limitation, commencement all of the rights and prosecution remedies Tenant may have at law or in equity (subject to the other provisions of proceedings to foreclose or otherwise exercise its rights under its mortgage or other security instrumentthis Lease); provided, if necessary to effect such cure)however, in which event this Lease recognition that Landlord must receive timely payments of Rent and operate the Property, Tenant shall not be terminated by Tenant so long as such actions have no right of self-help to perform repairs or remedies are being diligently pursued by said lender. Landlord shall not be liable to Tenant for any default under this Lease which occurs after the sale other obligation of the Building by Landlord, and Tenant agrees that its rights with respect shall have no right to any such defaultwithhold, if asserted, shall be asserted against Landlord’s successor in interest, and not against Landlordset-off or xxxxx Rent.

Appears in 1 contract

Samples: Office Lease (Participate Com Inc)

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Landlord’s Right to Cure. 10.1 In the event of any breach, default, or noncompliance hereunder by Landlord, Tenant shall, before exercising any right or remedy available to it, give Landlord written notice of such the claimed breach, or noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of otherwise to the address of a lender which has furnished any financing that is secured by a mortgage or deed of Trust on the financing referred to in Article XVII hereof, Demised Premises concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mailCertified Mail, transmit a copy thereof to such lender. For the thirty (30) days following the giving of the notlce(s) required by the foregoing portion of this Article XVI such notice (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably reasonable be rectified remedied within thirty (30) days), Landlord shall have the right to cure the breach, default or noncompliance involved. If Landlord has failed to effect such cure a Default within such said period, any such lender shall have an additional thirty (30) days within which to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary, necessary if within such thirty (30) day period said lender has commenced and is diligently pursuing the actions or remedies necessary to cure the breach, Default or noncompliance involved (including, but not limited to, commencement and prosecution of proceedings to foreclose or otherwise exercise its rights under its mortgage or other security instrument, instrument if necessary to effect such cure), in which event this Lease shall not be terminated by Tenant so long as such actions or remedies are being diligently pursued by said lender. Landlord shall not be liable to Tenant for any default under this Lease which occurs after the sale of the Building by Landlord, and Tenant agrees that its rights with respect to any such default, if asserted, shall be asserted against Landlord’s successor in interest, and not against Landlord.)

Appears in 1 contract

Samples: Oleramma Inc

Landlord’s Right to Cure. In the event of If Landlord shall fail to perform any noncompliance hereunder term or provision under this Lease required to be performed by Landlord, Tenant shallLandlord shall not be deemed to be in default hereunder nor subject to any claims for damages of any kind, before exercising any right or remedy available to it, give Landlord written notice unless such failure shall have continued for a period of such noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the thirty (30) days following after written notice thereof by Tenant, provided, if the giving nature of the notlce(s) required by the foregoing portion of this Article XVI (or Landlord's failure is such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within thirty (30) days), Landlord shall have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such lender shall have an additional that more than thirty (30) days within which are reasonably required in order to cure, Landlord shall not be in default if Landlord commences to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary, if failure within such thirty (30) day period said lender has commenced period, and is diligently pursuing the actions or remedies necessary thereafter reasonably seeks to cure such failure to completion (unless the noncompliance involved (includingdefault involves a condition dangerous to person or property, but not limited to, commencement and prosecution of proceedings or which will become worse if no immediate action is taken to foreclose or otherwise exercise its rights under its mortgage or other security instrument, if necessary to effect cure such cure)default, in which event such default shall be cured forthwith upon Tenant's demand). The aforementioned periods of time permitted for Landlord to cure shall be extended for any period 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 times permitted for cure herein, Landlord shall be subject to such remedies as may be available to Tenant at law and in equity (subject to the other provisions of this Lease), as well as an abatement of Rent due hereunder until such time as such default of Landlord is cured. Anything to the contrary contained in this Lease notwithstanding, in the event Tenant shall offset any moneys (claimed to be owed to Tenant by Landlord) against the Rent payable by Tenant hereunder pursuant to the provisions of this Lease, and Landlord shall dispute Tenant's right to such offset or the amount thereof, Tenant shall not be terminated deemed to be in default of this Lease by reason of such offset until such dispute is resolved and Tenant shall fail to pay any sums determined to be payable by Tenant so long as to Landlord in the resolution of such actions or remedies are being diligently pursued by said lender. Landlord shall not be liable to Tenant for any default under this Lease which occurs dispute after the sale expiration of the Building ten (10) days following such determination (whether by Landlord, and Tenant agrees that its rights with respect to any such default, if asserted, shall be asserted against Landlord’s successor in interest, and not against Landlordarbitration or otherwise).

Appears in 1 contract

Samples: Lease Agreement (Infocure Corp)

Landlord’s Right to Cure. In the event of If Landlord shall fail to perform any noncompliance hereunder term or provision under this Lease required to be performed by Landlord, Tenant shallLandlord shall not be deemed to be in default hereunder nor subject to any claims for damages of any kind, before exercising any right or remedy available to it, give Landlord written notice unless such failure shall have continued for a period of such noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the thirty (30) days following after written notice thereof by Tenant; provided, if the giving nature of the notlce(s) required by the foregoing portion of this Article XVI (or Landlord's failure is such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within thirty (30) days), Landlord shall have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such lender shall have an additional that more than thirty (30) days within which are reasonably required in order to cure, Landlord shall not be in default if Landlord commences to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary, if failure within such thirty (30) day period said lender has commenced period, and is diligently pursuing the actions or remedies necessary thereafter reasonably seeks to cure the noncompliance involved (includingsuch failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period of time during which Landlord is delayed in, but not limited toor prevented from, commencement and prosecution of proceedings curing due to foreclose or otherwise exercise its rights under its mortgage fire or other security instrumentcasualty, if necessary 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 effect cure within the times permitted for cure herein, Landlord shall be subject to such cureremedies as may be available to Tenant (subject to the other provisions of this Lease); provided, in which event this Lease recognition that Landlord must receive timely payments of Rent and operate the Property, Tenant shall not be terminated by Tenant so long as such actions have no right of self-help to perform repairs or remedies are being diligently pursued by said lender. Landlord shall not be liable to Tenant for any default under this Lease which occurs after the sale other obligation of the Building by Landlord, and shall have no right to withhold, set-off, or, except as hereinafter specifically provided, xxxxx Rent. Notwithstanding the foregoing, if, due to a failure to perform, Tenant agrees that cannot operate its rights with respect business from the Premises for ten (10) business days, then Rent shall xxxxx for the period Tenant is unable to any such default, if asserted, shall be asserted against Landlord’s successor in interest, and not against Landlordoperate its business from the Premises.

Appears in 1 contract

Samples: Agreement (Corechange Inc)

Landlord’s Right to Cure. In the event of If Tenant shall fail or neglect to do or perform any noncompliance hereunder by Landlordcovenant or condition required under this Lease and such failure shall not be cured within any applicable grace period, Tenant shallLandlord may, before exercising any right or remedy available to it, give Landlord on fifteen (15) days written notice of such noncompliance. If prior to its giving such notice Tenant, but shall not be required to, make any payment payable by Tenant has been notified in writing (by way of Notice of Assignment of Rents hereunder, discharge any lien, take out, pay for and Leasesmaintain any insurance required hereunder, or otherwise) of do or perform or cause to be done or performed any such other act or thing (entering upon the address of a lender which has furnished Premises for such purposes, if Landlord shall so elect), and Landlord shall not be or be held liable or in any of the financing referred way responsible for any loss, disturbance, inconvenience, annoyance or damage resulting to in Article XVII hereof, concurrently with giving the aforesaid notice Tenant on account thereof. Tenant shall repay to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the Landlord within thirty (30) days following after demand the giving of entire out-of-pocket cost and expense incurred by Landlord in connection with the notlce(s) required by the foregoing portion of this Article XVI (or such longer period of time as may be reasonably required to cure a matter whichcure, due to its nature, cannot reasonably be rectified within thirty (30) days), Landlord shall have the right to cure the noncompliance involved. If Landlord has failed to effect such cure within such period, any such lender shall have an additional thirty (30) days within which to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary, if within such thirty (30) day period said lender has commenced and is diligently pursuing the actions or remedies necessary to cure the noncompliance involved (including, but not limited towithout limitation, commencement compensation to the agents, consultants and prosecution contractors of proceedings to foreclose Landlord and reasonable attorneys’ fees and expenses. Landlord may act upon shorter notice or otherwise exercise its rights under its mortgage or other security instrument, no notice at all if necessary in Landlord’s reasonable judgment to effect such cure), meet an emergency situation or governmental or municipal time limitation or to protect Landlord’s interest in which event this Lease shall not be terminated by Tenant so long as such actions or remedies are being diligently pursued by said lenderthe Premises. Landlord shall not be liable required to Tenant for any default under this Lease which occurs after inquire into the sale correctness of the Building amount of validity or any tax or lien that may be paid by Landlord, Landlord and Tenant agrees that its rights with respect to Landlord shall be duly protected in paying the amount of any such defaulttax or lien claimed and in such event Landlord also shall have the full authority, if asserted, shall be asserted against in Landlord’s successor in interestsole judgment and discretion and without prior notice to or approval by Tenant, and to settle or compromise any such lien or tax. Any act or thing done by Landlord pursuant to the provisions of this Section shall not against Landlordbe or be construed as a waiver of any such failure by Tenant, or as a waiver of any term, covenant, agreement or condition herein contained or of the performance thereof.

Appears in 1 contract

Samples: Office Lease (Cotherix Inc)

Landlord’s Right to Cure. In the event of any breach, default, or ------------------------ noncompliance hereunder by Landlord, Tenant shall, before exercising any right or remedy available to it, give Landlord written notice of such the claimed breach, default, or noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of a lender which has furnished any of the financing referred to in Article XVII XXI hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the thirty (30) days following the giving of the notlce(snotice(s) required by the foregoing portion of this Article XVI paragraph (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within thirty (30) days), Landlord shall have the right to cure the breach, default, or noncompliance involved. If Landlord has failed to effect such cure a default within such said period, any such lender shall have an additional thirty (30) days within which to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary, necessary if within such thirty (30) day period said lender has commenced and is diligently pursuing pursing the actions or remedies necessary to cure the breach, default, or noncompliance involved (including, but not limited omitted to, commencement and prosecution of proceedings to foreclose or otherwise exercise its rights under its mortgage or other security instrument, if necessary to effect such cure), in which event this Lease shall not be terminated by Tenant so long as such actions or remedies are being diligently pursued by said lender. Landlord shall lender and provided the breach, default or noncompliance does not be liable to Tenant for any default under this Lease which occurs after the sale unreasonably interfere with Tenant's use of the Building by Landlord, and Tenant agrees that its rights with respect to any such default, if asserted, shall be asserted against Landlord’s successor in interest, and not against LandlordPremises.

Appears in 1 contract

Samples: Lease Agreement (Teltrust Inc)

Landlord’s Right to Cure. In the event Landlord shall not be in default under this Lease unless Landlord does not perform a material obligation required of any noncompliance hereunder by LandlordLandlord within a reasonable time, Tenant shall, before exercising any right or remedy available to it, give Landlord written notice of such noncompliance. If prior to its giving such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of a lender which has furnished any of the financing referred to in Article XVII hereof, concurrently with giving the aforesaid notice to Landlord, Tenant shall, by registered mail, transmit a copy thereof to such lender. For the but not later than thirty (30) days following after written notice describing the giving default by Tenant to Landlord and to the holder of any first mortgage or deed of trust covering the notlce(s) required by Premises whose name and address has previously been furnished to Tenant in writing, specifying the foregoing portion obligation Landlord has not performed; provided, however, that if the nature of this Article XVI (or Landlord's obligation is such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within that more than thirty (30) days)days are required for performance, Landlord shall have the right to cure the noncompliance involved. If not be in default if Landlord has failed to effect or any such cure mortgagee commences performance within such period30-day period and thereafter diligently prosecutes it to completion. Tenant further agrees that if Landlord shall not have cured the default within the time provided, then any such lender holder of a ground lease, deed of trust, mortgage or security instrument now or hereafter placed upon the Project (a "Mortgagee") shall have an additional thirty (30) days following a second notice from Tenant within which to cure the same or, if such default. If the default cannot be cured within that periodtime, Mortgagee shall have such additional time as may be necessary, if necessary provided that within such the thirty (30) day period said lender days, Mortgagee has commenced and is diligently pursuing the actions or remedies necessary to cure the noncompliance involved such default (including, but not limited to, commencement and prosecution of proceedings to foreclose or otherwise exercise its rights under its mortgage or other security instrumentforeclosure proceedings, if necessary necessary, to effect such its cure), . Tenant waives any and all claims to consequential damages against Landlord that may arise in which event connection with this Lease shall not be terminated by Tenant so long as such actions or remedies are being diligently pursued by said lender. Landlord shall not be liable to Tenant for any default under this Lease which occurs after the sale of the Building by Landlord, and Tenant agrees that its rights with respect to any such default, if asserted, shall be asserted against Landlord’s successor in interest, and not against LandlordProject.

Appears in 1 contract

Samples: Office Lease (Xedar Corp)

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