Common use of Leasing Default Clause in Contracts

Leasing Default. (a) If any Leasing Default shall occur, the FCRHA may (subject to Section 24.14 below), at its option, give notice to Tenant stating that the FCRHA is terminating any Management Agreement then in effect for the Project and removing the Approved Property Manager from the Premises. Thereafter, the FCRHA, without further notice, may re-enter and repossess the Premises using such force for that purpose as may be necessary without being liable to indictment, prosecution or damages therefor, and undertake any leasing and property management duties, responsibilities or obligations that the FCRHA deems necessary or desirable for the Project, provided such actions are commercially reasonable and consistent with the management of comparable market rate apartment projects in Fairfax County, Virginia. During any period that the FCRHA undertakes leasing or property management duties as the result of a Leasing Default, the FCRHA shall use good faith efforts to cure the Residential Criteria Defaults that resulted in the Leasing Default. The FCRHA shall not be liable to indictment, prosecution or damages for any actions or failure to act by the FCRHA in its leasing or property management capacity, except to the extent such action or failure to act was not commercially reasonable. Any sums expended by the FCRHA in connection with the FCRHA’s duties set forth in this Section 24.06(a) shall be Additional Costs and shall be paid by Tenant in accordance with the terms of this Lease. Failure to pay Additional Costs in accordance with the terms hereof will (after the applicable notice and cure period) constitute an Event of Default by Tenant under Section 24.01(a) above. Without limitation of the foregoing, the FCRHA agrees that if the FCRHA shall terminate the Management Agreement and remove the Approval Property Manager from the Premises, then if the FCRHA shall desire to appoint a replacement property manager, the FCRHA shall request the consent of the then current Mortgagee (which consent shall not be unreasonably withheld, delayed or conditioned). If the Mortgagee shall fail to respond to the FCRHA within ten (10) Business Days after receipt of FCRHA’s request, or if the Mortgagee shall withhold its consent without specifying the reasons therefor in reasonable detail, then the Mortgagee shall be deemed to have consented to the proposed property manager.

Leasing Default. (a) If any Leasing Default shall will occur, the FCRHA Landlord may (subject to Section 24.14 below), at its option, give notice to Tenant stating that the FCRHA Landlord is terminating any Management Agreement then in effect for the Project and removing the Approved Property Manager from the Premises. Thereafter, the FCRHALandlord, without further notice, may re-enter and repossess the Premises using such force for that purpose as may be necessary without being liable to indictment, prosecution or damages therefor, and undertake any leasing and property management duties, responsibilities or obligations that the FCRHA Landlord deems necessary or desirable for the Project, provided such actions are commercially reasonable and consistent with the management of comparable market rate apartment projects in Fairfax County, Virginia. During any period that the FCRHA Landlord undertakes leasing or property management duties as the result of a Leasing Default, the FCRHA shall Landlord will use good faith efforts to cure the Residential Criteria Defaults that resulted in the Leasing Default. The FCRHA shall Landlord will not be liable to indictment, prosecution or damages for any actions or failure to act by the FCRHA Landlord in its leasing or property management capacity, except to the extent such action or failure to act was not commercially reasonable. Any sums expended by the FCRHA Landlord in connection with the FCRHAXxxxxxxx’s duties set forth in this Section 24.06(a) shall will be Additional Costs and shall will be paid by Tenant in accordance with the terms of this Lease. Failure to pay Additional Costs in accordance with the terms hereof will (after the applicable notice and cure period) constitute an Event of Default by Tenant under Section 24.01(a) above. Without limitation of the foregoing, the FCRHA agrees that if the FCRHA shall terminate the Management Agreement and remove the Approval Property Manager from the Premises, then if the FCRHA shall desire to appoint a replacement property manager, the FCRHA shall request the consent of the then current Mortgagee (which consent shall not be unreasonably withheld, delayed or conditioned). If the Mortgagee shall fail to respond to the FCRHA within ten (10) Business Days after receipt of FCRHA’s request, or if the Mortgagee shall withhold its consent without specifying the reasons therefor in reasonable detail, then the Mortgagee shall be deemed to have consented to the proposed property manager.

Leasing Default. (a) If any Leasing Default shall occur, the FCRHA Landlord may (subject to Section 24.14 below), at its option, give notice to Tenant stating that the FCRHA Landlord is terminating any Management Agreement then in effect for the Project and removing the Approved Property Manager from the Premises. Thereafter, the FCRHALandlord, without further notice, may re-enter and repossess the Premises using such force for that purpose as may be necessary without being liable to indictment, prosecution or damages therefor, and undertake any leasing and property management duties, responsibilities or obligations that the FCRHA Landlord deems necessary or desirable for the Project, provided such actions are commercially reasonable and consistent with the management of comparable market rate apartment projects in Fairfax County, Virginia. During any period that the FCRHA Landlord undertakes leasing or property management duties as the result of a Leasing Default, the FCRHA Landlord shall use good faith efforts to cure the Residential Criteria Defaults that resulted in the Leasing Default. The FCRHA Landlord shall not be liable to indictment, prosecution or damages for any actions or failure to act by the FCRHA Landlord in its leasing or property management capacity, except to the extent such action or failure to act was not commercially commerically reasonable. Any sums expended by the FCRHA Landlord in connection with the FCRHALandlord’s duties set forth in this Section 24.06(a) shall be Additional Costs and shall be paid by Tenant in accordance with the terms of this Lease. Failure to pay Additional Costs in accordance with the terms hereof will (after the applicable notice and cure period) constitute an Event of Default by Tenant under Section 24.01(a) above. Without limitation of the foregoing, the FCRHA agrees that if the FCRHA shall terminate the Management Agreement and remove the Approval Property Manager from the Premises, then if the FCRHA shall desire to appoint a replacement property manager, the FCRHA shall request the consent of the then current Mortgagee (which consent shall not be unreasonably withheld, delayed or conditioned). If the Mortgagee shall fail to respond to the FCRHA within ten (10) Business Days after receipt of FCRHA’s request, or if the Mortgagee shall withhold its consent without specifying the reasons therefor in reasonable detail, then the Mortgagee shall be deemed to have consented to the proposed property manager.above.‌

Leasing Default. (a) If any Leasing Default shall occur, the FCRHA Landlord may (subject to Section 24.14 below), at its option, give notice to Tenant stating that the FCRHA Landlord is terminating any Management Agreement then in effect for the Project and removing the Approved Property Manager from the Premises. Thereafter, the FCRHALandlord, without further notice, may re-enter and repossess the Premises using such force for that purpose as may be necessary without being liable to indictment, prosecution or damages therefor, and undertake any leasing and property management duties, responsibilities or obligations that the FCRHA Landlord deems necessary or desirable for the Project, provided such actions are commercially reasonable and consistent with the management of comparable market rate apartment projects in Fairfax County, Virginia. During any period that the FCRHA Landlord undertakes leasing or property management duties as the result of a Leasing Default, the FCRHA Landlord shall use good faith efforts to cure the Residential Criteria Defaults that resulted in the Leasing Default. The FCRHA Landlord shall not be liable to indictment, prosecution or damages for any actions or failure to act by the FCRHA Landlord in its leasing or property management capacity, except to the extent such action or failure to act was not commercially reasonable. Any sums expended by the FCRHA Landlord in connection with the FCRHALandlord’s duties set forth in this Section 24.06(a) shall be Additional Costs and shall be paid by Tenant in accordance with the terms of this Lease. Failure to pay Additional Costs in accordance with the terms hereof will (after the applicable notice and cure period) constitute an Event of Default by Tenant under Section 24.01(a) above. Without limitation In addition to the remedies set forth in this Section 24.06, Landlord may avail itself to any other remedies set forth in this Article 24, except those remedies set forth in Section 24.02 and Section 24.03 above (but subject to Section 24.06(d) below) if Tenant commits an Leasing Default. Landlord may continue to operate and manage the Project for so long as any of the foregoingResidential Criteria Defaults that caused the Leasing Default that resulted in Landlord undertaking any leasing or property management responsibilities for the Project remain uncured. Once all such Residential Criteria Defaults have been cured and Tenant is no longer in a Leasing Default, the FCRHA agrees that if the FCRHA Tenant shall terminate the Management Agreement retain all leasing and remove the Approval property management duties (and may retain an Approved Property Manager from for such purposes) in accordance with the Premisesterms of this Lease. In the event that Tenant commits a Leasing Default within thirty-six (36) months after the date on which a prior Leasing Default was cured, then if in addition to Landlord’s rights under this Section 24.06, Landlord may avail itself to any other remedies set forth in this Lease, including the FCRHA shall desire termination of this Lease pursuant to appoint a replacement property manager, Section 24.02 and Section 24.03 above. Any Residential Criteria Defaults that occurred during any period in which Landlord was responsible for the FCRHA shall request the consent leasing and management of the then current Mortgagee (which consent Property shall not be unreasonably withheld, delayed or conditioned)considered in determining whether Tenant has committed a Leasing Default. If the Mortgagee All of Landlord’s rights set forth in this Section 24.06 shall fail to respond be subject to the FCRHA within ten rights of Tenant’s (10or its subtenants’) Business Days after receipt of FCRHA’s request, Mortgagees and Tax Credit investors set forth in this Lease or if the Mortgagee shall withhold set forth in any agreements between Tenant (or its consent without specifying the reasons therefor in reasonable detail, then the Mortgagee shall be deemed to have consented to the proposed property managersubtenants) and those parties.

Leasing Default. (a) If any Leasing Default shall occur, the FCRHA Landlord may (subject to Section 24.14 below), at its option, give notice to Tenant stating that the FCRHA Landlord is terminating any Management Agreement then in effect for the Project and removing the Approved Property Manager from the Premises. Thereafter, the FCRHALandlord, without further notice, may re-enter and repossess the Premises using such force for that purpose as may be necessary without being liable to indictment, prosecution or damages therefor, and undertake any leasing and property management duties, responsibilities or obligations that the FCRHA Landlord deems necessary or desirable for the Project, provided such actions are commercially reasonable and consistent with the management of comparable market rate apartment projects in Fairfax County, Virginia. During any period that the FCRHA Landlord undertakes leasing or property management duties as the result of a Leasing Default, the FCRHA Landlord shall use good faith efforts to cure the Residential Criteria Defaults that resulted in the Leasing Default. The FCRHA Landlord shall not be liable to indictment, prosecution or damages for any actions or failure to act by the FCRHA Landlord in its leasing or property management capacity, except to the extent such action or failure to act was not commercially commerically reasonable. Any sums expended by the FCRHA Landlord in connection with the FCRHAXxxxxxxx’s duties set forth in this Section 24.06(a) shall be Additional Costs and shall be paid by Tenant in accordance with the terms of this Lease. Failure to pay Additional Costs in accordance with the terms hereof will (after the applicable notice and cure period) constitute an Event of Default by Tenant under Section 24.01(a) above. Without limitation of the foregoing, the FCRHA agrees that if the FCRHA shall terminate the Management Agreement and remove the Approval Property Manager from the Premises, then if the FCRHA shall desire to appoint a replacement property manager, the FCRHA shall request the consent of the then current Mortgagee (which consent shall not be unreasonably withheld, delayed or conditioned). If the Mortgagee shall fail to respond to the FCRHA within ten (10) Business Days after receipt of FCRHA’s request, or if the Mortgagee shall withhold its consent without specifying the reasons therefor in reasonable detail, then the Mortgagee shall be deemed to have consented to the proposed property manager.above.‌

Leasing Default. (a) If any Leasing Default shall will occur, the FCRHA Landlord may (subject to Section 24.14 below), at its option, give notice to Tenant stating that the FCRHA Landlord is terminating any Management Agreement then in effect for the Project and removing the Approved Property Manager from the Premises. Thereafter, the FCRHALandlord, without further notice, may re-enter and repossess the Premises using such force for that purpose as may be necessary without being liable to indictment, prosecution or damages therefor, and undertake any leasing and property management duties, responsibilities or obligations that the FCRHA Landlord deems necessary or desirable for the Project, provided such actions are commercially reasonable and consistent with the management of comparable market rate apartment projects in Fairfax County, Virginia. During any period that the FCRHA Landlord undertakes leasing or property management duties as the result of a Leasing Default, the FCRHA shall Landlord will use good faith efforts to cure the Residential Criteria Defaults that resulted in the Leasing Default. The FCRHA shall Landlord will not be liable to indictment, prosecution or damages for any actions or failure to act by the FCRHA Landlord in its leasing or property management capacity, except to the extent such action or failure to act was not commercially reasonable. Any sums expended by the FCRHA Landlord in connection with the FCRHALandlord’s duties set forth in this Section 24.06(a) shall will be Additional Costs and shall will be paid by Tenant in accordance with the terms of this Lease. Failure to pay Additional Costs in accordance with the terms hereof will (after the applicable notice and cure period) constitute an Event of Default by Tenant under Section 24.01(a) above. Without limitation In addition to the remedies set forth in this Section 24.06, Landlord may avail itself to any other remedies set forth in this Article 24, except those remedies set forth in Section 24.02 and Section 24.03 above (but subject to Section 24.06(d) below) if Tenant commits a Leasing Default. Landlord may continue to operate and manage the Project for so long as any of the foregoingResidential Criteria Defaults that caused the Leasing Default that resulted in Landlord undertaking any leasing or property management responsibilities for the Project remain uncured. Once all such Residential Criteria Defaults have been cured and Tenant is no longer in a Leasing Default, the FCRHA agrees that if the FCRHA shall terminate the Management Agreement Tenant will retain all leasing and remove the Approval property management duties (and may retain an Approved Property Manager from for such purposes) in accordance with the Premisesterms of this Lease. If Tenant commits a Leasing Default within 36 months after the date on which a prior Leasing Default was cured, then if in addition to Landlord’s rights under this Section 24.06, Landlord may avail itself to any other remedies set forth in this Lease, including the FCRHA shall desire termination of this Lease pursuant to appoint a replacement property manager, Section 24.02 and Section 24.03 above. Any Residential Criteria Defaults that occurred during any period in which Landlord was responsible for the FCRHA shall request the consent leasing and management of the then current Mortgagee (which consent shall Property will not be unreasonably withheld, delayed or conditioned)considered in determining whether Tenant has committed a Leasing Default. If the Mortgagee shall fail to respond All of Landlord’s rights set forth in this Section 24.06 will be subject to the FCRHA within ten rights of Tenant’s (10or its subtenants’) Business Days after receipt of FCRHA’s request, Mortgagees and Tax Credit investors set forth in this Lease or if the Mortgagee shall withhold set forth in any agreements between Tenant (or its consent without specifying the reasons therefor in reasonable detail, then the Mortgagee shall be deemed to have consented to the proposed property managersubtenants) and those parties.