Common use of Lessor Default Clause in Contracts

Lessor Default. If Lessor defaults in the performance of its obligations under this Lease, Tenant may give Lessor written notice thereof and Lessor shall have thirty (30) days after Lessor’s receipt of Tenant’s default notice to cure such default; provided, however, that if such default cannot reasonably be cured within thirty (30) days, Lessor shall have as much time to cure such default as is necessary, provided Lessor promptly commences and diligently pursues such cure; and provided further, that if the default relates to a matter which, in Tenant’s reasonable judgment, is of an emergency nature, Lessor shall have only forty-eight (48) hours (or such lesser period as is reasonable under the circumstances) to cure such default. If Lessor fails to cure any such default within such cure period (or, if this Lease elsewhere provides for a shorter cure period, or no cure period, if Lessor commits such a default), it shall be deemed an event of default. Upon the occurrence of an event of default, Tenant, at its option, may cure the default in which event Lessor shall reimburse Tenant for all reasonable out-of-pocket costs and expenses incurred by Tenant in connection with such cure within twenty (20) days of receiving an invoice for such amount from Tenant with reasonable supporting documentation. Any such amount not paid by Lessor when due shall accrue interest from the date the same is due and payable and until the same is paid at the lesser of eighteen percent (18%) per annum or the highest rate permitted by law. In addition to the foregoing remedies, the Tenant shall be entitled to such other legal and equitable remedies as may be provided by applicable law.

Lessor Default. If Lessor defaults shall not be deemed in the performance default of its obligations under this LeaseLease unless Lessor fails within a reasonable time to perform any such obligation required to be performed by Lessor, Tenant may give Lessor written notice thereof and Lessor except that Lessee shall have be entitled to a proportionate reduction of Rent based on the untenantable square feet of the Premises. For purposes of this Section 15.6, a reasonable time shall in no event be less than thirty (30) days after receipt by Lessor’s receipt , or any mortgage holder, of Tenant’s default written notice to cure specifying wherein such defaultobligation of Lessor has not been performed; provided, however, that if the nature of Lessor's obligation is such that more than thirty (30) days are reasonably required for its performance, then Lessor shall not be in breach if performance is commenced within such thirty (30) day period and thereafter diligently pursued to completion. In the event that neither Lessor nor such mortgage holder cures said default cannot reasonably be cured within thirty (30) daysdays after receipt of said notice, Lessor shall have as much time or if having commenced said cure they do not diligently pursue it to completion, then Lessee may elect to either (i) terminate this Lease or (ii) cure such default as is necessary, provided Lessor promptly commences said breach at Lessee's expense and diligently pursues offset from Rent the actual and reasonable costs to perform such cure; and provided furtherprovided, however, that if such offset shall not exceed an amount equal to the default relates to a matter which, in Tenant’s reasonable judgment, is greater of an emergency nature, Lessor shall have only forty-eight (48) hours (or such lesser period as is reasonable under the circumstances) to cure such default. If Lessor fails to cure any such default within such cure period (or, if this Lease elsewhere provides for a shorter cure period, or no cure period, if Lessor commits such a default), it shall be deemed an event of default. Upon the occurrence of an event of default, Tenant, at its option, may cure the default in which event Lessor shall reimburse Tenant for all reasonable out-of-pocket costs and expenses incurred by Tenant in connection with such cure within twenty (20) days of receiving an invoice for such amount from Tenant with reasonable supporting documentation. Any such amount not paid by Lessor when due shall accrue interest from the date the same is due and payable and until the same is paid at the lesser of eighteen percent (18%) per annum one month's Base Rent or the highest rate permitted by lawSecurity Deposit. In addition Lessee shall document the cost of said cure and supply said documentation to the foregoing remedies, the Tenant shall be entitled to such other legal and equitable remedies as may be provided by applicable lawLessor.