Common use of Lessee’s Remedies Clause in Contracts

Lessee’s Remedies. In the event of any such default under or breach of the terms of this Lease by Lessor, Lessees may, at Lessees’ option, at any time thereafter that such default or breach remains uncured, after ten days prior written notice to Lessees, perform any act that Lessor is required to do or perform any act or to pay any sum to a Third Party, at Lessor’s expense (to the extent the terms of this Lease require such performance at Lessor’s expense) or pay such sum for and on behalf of Lessor, and the amounts so expended by Lessees shall be repayable on demand, and bear interest from the date expended by Lessees until paid at the Post-Maturity Rate. Lessees may, at Lessees’ option, deduct any such amounts so expended by Lessees from the Rent and any other amounts owed hereunder or under any Ancillary Agreement and any such action on the part of Lessees shall be in addition to any other remedy that may be available to Lessees for default or breach of contract, or otherwise, including the right of setoff.

Appears in 2 contracts

Samples: Lease and Access Agreement (Holly Energy Partners Lp), Lease and Access Agreement (Holly Corp)

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Lessee’s Remedies. In the event of any such default under or breach of the terms of this Lease by Lessor, Lessees Lessee may, at Lessees’ Lessee’s option, at any time thereafter that such default or breach remains uncured, after ten days prior written notice to LesseesLessee, perform any act that Lessor is required to do or perform any act or to pay any sum to a Third Party, at Lessor’s expense (to the extent the terms of this Lease require such performance at Lessor’s expense) or pay such sum for and on behalf of Lessor, and the amounts so expended by Lessees Lessee shall be repayable on demand, and bear interest from the date expended by Lessees Lessee until paid at the Post-Maturity Rate. Lessees Lessee may, at Lessees’ Lessee’s option, deduct any such amounts so expended by Lessees Lessee from the Rent and any other amounts owed hereunder or under any Ancillary Agreement and any such action on the part of Lessees Lessee shall be in addition to any other remedy that may be available to Lessees Lessee for default or breach of contract, or otherwise, including the right of setoff.

Appears in 2 contracts

Samples: Lease Agreement (Holly Energy Partners Lp), Lease Agreement (HollyFrontier Corp)

Lessee’s Remedies. In Upon the event occurrence of any such default under or breach of the terms of this Lease by Lessorevents described in Section 10.3, Lessees Lessee may, at Lessees’ Lessee’s option, at any time thereafter that such default or breach remains uncured, after ten days prior written notice to LesseesLessee, perform any act that Lessor is required to do do, or perform any act or to pay any sum to a Third Party, at Lessor’s expense (to the extent the terms of this Asset Lease require such performance at Lessor’s expense) or pay such sum for and on behalf of Lessor, and the amounts so expended by Lessees Lessee shall be repayable on demand, and bear interest from the date expended by Lessees Lessee until paid at the Post-Maturity Default Rate. Lessees Lessee may, at Lessees’ Lessee’s option, deduct any such amounts so expended by Lessees Lessee from the Rent Lease Payment and any other amounts owed hereunder or under any Ancillary Agreement and any such action on the part of Lessees Lessee shall be in addition to any other remedy that may be available to Lessees Lessee for default or breach of contract, or otherwise, including the right of setoff.

Appears in 1 contract

Samples: Asset Lease Agreement (HollyFrontier Corp)

Lessee’s Remedies. In the event of any such material default under or material breach of the terms of this Lease by Lessor, Lessees Lessee may, at Lessees’ Lessee’s option, at any time thereafter that such default or breach remains uncured, after ten 30 days prior written notice to LesseesLessor, perform any act that Lessor is required to do or perform any act or to pay any sum to a Third Party, at Lessor’s expense (to the extent the terms of this Lease require such performance at Lessor’s expense) or pay such sum for and on behalf of Lessor, and the amounts so expended by Lessees Lessee shall be repayable on demand, and bear interest from the date expended by Lessees Lessee until paid at the Post-Maturity Rate. Lessees Lessee may, at Lessees’ Lessee’s option, deduct any such amounts so expended by Lessees Lessee from the Rent and any other amounts owed hereunder or under any Ancillary Agreement and any such action on the part of Lessees Lessee shall be in addition to any other remedy that may be available to Lessees Lessee for default or breach of contract, or otherwise, including the right of setoff.

Appears in 1 contract

Samples: Lease Agreement (Delek Logistics Partners, LP)

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Lessee’s Remedies. In the event of any such material default under or material breach of the terms of this Lease by Lessor, Lessees Lessee may, at Lessees’ Lessee’s option, at any time thereafter that such default or breach remains uncured, after ten days prior written notice to LesseesLessee, perform any act that Lessor is required to do or perform any act or to pay any sum to a Third Party, at Lessor’s expense (to the extent the terms of this Lease require such performance at Lessor’s expense) or pay such sum for and on behalf of Lessor, and the amounts so expended by Lessees Lessee shall be repayable on demand, and bear interest from the date expended by Lessees Lessee until paid at the Post-Maturity Rate. Lessees Lessee may, at Lessees’ Lessee’s option, deduct any such amounts so expended by Lessees Lessee from the Rent and any other amounts owed hereunder or under any Ancillary Agreement and any such action on the part of Lessees Lessee shall be in addition to any other remedy that may be available to Lessees Lessee for default or breach of contract, or otherwise, including the right of setoff.

Appears in 1 contract

Samples: Lease Agreement (Holly Corp)

Lessee’s Remedies. In the event of any such material default under or material breach of the terms of this Lease by Lessor, Lessees Lessee may, at Lessees’ Lessee’s option, at any time thereafter HOU03:1337014 - 14 - that such default or breach remains uncured, after ten 30 days prior written notice to LesseesLessor, perform any act that Lessor is required to do or perform any act or to pay any sum to a а Third Party, at Lessor’s expense (to the extent the terms of this Lease require such performance at Lessor’s expense) or pay such sum for and on behalf of Lessor, and the amounts so expended by Lessees Lessee shall be repayable on demand, and bear interest from the date expended by Lessees Lessee until paid at the Post-Maturity Rate. Lessees Lessee may, at Lessees’ Lessee’s option, deduct any such amounts so expended by Lessees Lessee from the Rent and any other amounts owed hereunder or under any Ancillary Agreement and any such action on the part of Lessees Lessee shall be in addition to any other remedy that may be available to Lessees Lessee for default or breach of contract, or otherwise, including the right of setoff.

Appears in 1 contract

Samples: Lease Agreement (Delek Logistics Partners, LP)

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