Common use of LESSOR'S REMEDIES UPON DEFAULT Clause in Contracts

LESSOR'S REMEDIES UPON DEFAULT. If the Lessee defaults in the payment of Payable Rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions of this Agreement, the Lessor may give the Lessee written notice of such default and if the Lessee does not cure any such default within ten (10) business days after the giving of such notice (or, if such other default is of such a nature that it cannot be completely cured within such period, if the Lessee does not commence such curing within such ten (10) business days and thereafter proceed with reasonable diligence and in good faith to cure such default), then the Lessor may terminate this Lease by giving not less than thirty (30) calendar days’ written notice to the Lessee. On the date specified in such notice the term of this Lease shall terminate, and the Lessee shall then quit and surrender the Leased Premises to the Lessor, but the Lessee shall remain liable as hereinafter provided. If this Lease shall have been so terminated by the Lessor, the Lessor may at any time thereafter resume possession of the Leased Premises by any lawful means and remove the Lessee or other occupants and their effects. No failure to enforce any term shall be deemed a waiver

LESSOR'S REMEDIES UPON DEFAULT. If the Lessee defaults, for example by not paying its rent, the Lessor is required to give it the period (entered in the first and second brackets) to remedy or cure that default (usually three days). In the event that the Lessee does not cure or remedy the default within that period of time, then the Lessor can terminate this Lease by giving the Lessee notice (enter the amount of time in the third set of brackets). Usually 30 days. In the event that the Lease is terminated, the Lessee must vacate the Premises, but it is still liable for the payment of rent. 16.1 If the Lessee defaults in the payment of Payable Rentrent, or any additional rent, or defaults in the performance of any of the other covenants or conditions of this Agreement, the Lessor may give the Lessee written notice of such default and if the Lessee does not cure any such default within ten three [enter number] (103) business days days, after the giving of such notice (or, or if such other default is of such a nature that it cannot be completely cured within such period, if the Lessee does not commence such curing within such ten three (103) business days and thereafter proceed with reasonable diligence and in good faith to cure such default), then the Lessor may terminate this Lease by giving not less than [enter number) thirty (30) calendar days’ written notice to the Lessee. On the date specified in such notice the term of this Lease shall terminate, and the Lessee shall then quit and surrender the Leased Premises to the Lessor, but the Lessee shall remain liable as hereinafter provided. If this Lease shall have been so terminated by the Lessor, the Lessor may at any time thereafter resume possession of the Leased Premises by any lawful means and remove the Lessee or other occupants and their effects. No failure to enforce any term shall be deemed a waiver.