Common use of Lease Enforcement Clause in Contracts

Lease Enforcement. Subject to the provisions of Section 7.1, prior to the Closing Date, Seller shall have the right, but not the obligation, to enforce the rights and remedies of the landlord under any Lease or New Lease, by summary proceedings or otherwise, and to apply all or any portion of any security deposits then held by Seller toward any loss or damage incurred by Seller by reason of any defaults by any Tenant, provided, that (i) with respect to delinquent rents, Seller may (to the extent permitted under the Lease) apply Tenant security deposits held by Seller only to rents that are thirty (30) days or more past due and (ii) with respect to any application by Seller of Tenant security deposits held by Seller, Seller will deliver, in connection with any such application, written notice to the affected Tenant(s) indicating that their security deposits have been or are being so applied).

Lease Enforcement. Subject to the provisions of Section SECTION 7.1, prior to the Closing Date, Seller shall have the right, but not the obligation, to enforce the rights and remedies of the landlord under any Lease or New Lease, by summary proceedings or otherwise, and to apply all or any portion of any security deposits then held by Seller toward any loss or damage incurred by Seller by reason of any defaults by any Tenant, providedPROVIDED, that (i) with respect to delinquent rents, Seller may (to the extent permitted under the Lease) apply Tenant security deposits held by Seller only to rents that are thirty (30) days or more past due and (ii) with respect to any application by Seller of Tenant security deposits held by Seller, Seller will deliver, in connection with any such application, written notice to the affected Tenant(s) indicating that their security deposits have been or are being so applied).