Common use of Landlord’s Self-Help Clause in Contracts

Landlord’s Self-Help. If Tenant at any time fails to perform any of its obligations under this Agreement in a manner reasonably satisfactory to Landlord, Landlord shall have the right, but not the obligation, upon giving Tenant at least ten (10) days' prior written notice of its election to do so (except in the event of an emergency when no prior notice shall be required), to perform such obligations on behalf of and for the account of Tenant and to take all such action necessary to perform such obligations without liability to Tenant for any loss or damage which may result by reason of such repairs. In such event, Landlord's costs and expenses incurred therein shall be paid for by Tenant as additional rent, forthwith upon demand therefor, with interest thereon from the date Landlord performs such work at the lesser of twelve percent (12%) per annum or the maximum lawful rate of interest permitted by applicable law. The performance by Landlord of any such obligation shall not constitute a release or waiver of Tenant therefrom.

Appears in 7 contracts

Samples: Ground Lease Agreement, Ground Lease Agreement, Ground Lease Agreement

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Landlord’s Self-Help. If Tenant at any time fails to perform any of its obligations under this Agreement in a manner reasonably satisfactory to Landlord, Landlord shall have the right, but not the obligation, upon giving Tenant at least ten (10) days' prior written notice of its election to do so (except in the event of an emergency when no prior notice shall be required), to perform such obligations on behalf of and for the account of Tenant and to take all such action necessary to perform such obligations without liability to Tenant for any loss or damage which may result by reason of such repairs. In such event, LandlordXxxxxxxx's costs and expenses incurred therein shall be paid for by Tenant as additional rent, forthwith upon demand therefor, with interest thereon from the date Landlord performs such work at the lesser of twelve percent (12%) per annum or the maximum lawful rate of interest permitted by applicable law. The performance by Landlord of any such obligation shall not constitute a release or waiver of Tenant therefrom.

Appears in 1 contract

Samples: Ground Lease Agreement

Landlord’s Self-Help. If In addition to Landlord’s rights of self-help set forth elsewhere in this Lease, if Tenant at any time fails to perform any of its obligations under this Agreement Lease in a manner reasonably satisfactory to Landlord, Landlord shall have the right, but not the obligation, upon giving Tenant at least ten (10) days' prior written notice of its election to do so (except in the event of an emergency when emergency, no prior notice shall be required), to perform such obligations on behalf of and for the account of Tenant and to take all such action necessary to perform such obligations without liability to Tenant for any loss or damage which may result to Tenant’s stock or business by reason of such repairs. In such event, Landlord's ’s costs and expenses incurred therein shall be paid for by Tenant as additional rentAdditional Rent, forthwith upon demand therefor, with interest thereon from the date Landlord performs such work at the lesser of twelve percent (12%) per annum or the maximum lawful rate of interest permitted by applicable lawDefault Rate. The performance by Landlord of any such obligation shall not constitute a release or waiver of Tenant therefrom.

Appears in 1 contract

Samples: Center Lease (Wilshire Bancorp Inc)

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Landlord’s Self-Help. If In addition to Landlord's rights of self-help set forth elsewhere in this Lease, if Tenant at any time fails to perform any of its obligations under this Agreement Lease relating to maintenance, repair or Environmental Mailers in a manner reasonably satisfactory to Landlord, Landlord shall have the right, but not the obligation, upon giving Tenant at least ten (10) days' prior written notice of its election to do so (except in the event of an emergency when emergency, no prior notice shall be required), to perform such obligations on behalf of and for the account of Tenant and to take all such action necessary to perform such obligations without liability to Tenant for any loss or damage which may result by reason of such repairsobligations. In such event, Landlord's costs and expenses incurred therein shall be paid for by Tenant as additional rentRent, forthwith upon demand therefor, with interest thereon from the date Landlord performs such work at the lesser of twelve percent (12%) per annum or Default Rate, the maximum lawful rate of interest permitted by applicable law. The performance by Landlord of any such obligation shall not constitute a release or waiver of Tenant account therefrom.

Appears in 1 contract

Samples: Lease (American Marine Recreation Inc)

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