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Common use of Lessor’s Right to Perform Lessee’s Obligations Clause in Contracts

Lessor’s Right to Perform Lessee’s Obligations. All obligations to be performed or observed by Lessee under this Lease shall be performed or observed by Lessee at Lessee’s expense and without any reduction of rent. Lessor may perform or observe any obligation of Lessee for which there exists an Event of Lessee Default hereunder, without waiving Lessor’s other rights and remedies for Lessee’s failure to perform or observe any obligations under this Lease and without releasing Lessee from any such obligations. Within ten (10) days after receiving a statement from Lessor, Lessee shall pay to Lessor the amount of expense reasonably incurred by Lessor in performing or observing Lessee’s obligation.

Appears in 4 contracts

Samples: Triple Net Space Lease (PDL Biopharma, Inc.), Triple Net Space Lease (Biotech Spinco, Inc.), Triple Net Space Lease (PDL Biopharma, Inc.)

Lessor’s Right to Perform Lessee’s Obligations. All obligations to be performed or observed by Lessee under this Lease shall be performed or observed by Lessee at Lessee’s 's expense and without any reduction of rent. Lessor may perform or observe any obligation of Lessee for which there exists an Event of Lessee Default is in default hereunder, without waiving Lessor’s 's other rights and remedies for Lessee’s 's failure to perform or observe any obligations under this Lease and without releasing Lessee from any such obligations. Within ten (10) days after receiving a statement from Lessor, Lessee shall pay to Lessor the amount of expense reasonably incurred by Lessor in performing or observing Lessee’s 's obligation.

Appears in 2 contracts

Samples: Triple Net Space Lease (Arqule Inc), Sublease (Threshold Pharmaceuticals Inc)