Common use of Licensor Default and Damages Clause in Contracts

Licensor Default and Damages. QTS shall not be in default under this Agreement unless QTS fails to perform obligations required of QTS within thirty (30) days after written notice is delivered by Customer to QTS and to the holder of any deed to secure debt (collectively, “Lender”), covering the Data Center whose name and address shall have theretofore been furnished to Customer in writing, specifying the obligation which QTS has failed to perform; provided, however, that if the nature of QTS’s obligation is such that more than thirty (30) days are required for performance, then QTS shall not be in default if QTS or Lender commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion, and provided further that if the nature of QTS’s failure to perform is such that it is not curable, then QTS shall be in default as of the occurrence of such event. In the event of any default by QTS, Customer’s exclusive remedies shall be an action for specific performance or action for actual damages. Customer hereby waives the benefit of any laws granting it the right to perform QTS’s obligation, and Customer shall not be entitled to perform any of QTS’s obligations. QTS’s liability arising out of or relating to this Agreement, including without limitation on account of performance or nonperformance of obligations hereunder, regardless of the form of the cause of action, whether in contract, tort (including without limitation negligence), statute or otherwise, shall be subject to the other terms of this Agreement and shall in no event exceed the amounts payable by Customer to QTS under this Agreement.

Licensor Default and Damages. QTS shall not be in default under this Agreement unless QTS fails to perform obligations required of QTS within thirty (30) days after written notice is delivered by Customer to QTS and to the holder of any deed to secure debt (collectively, “Lender”), covering the Data Center whose name and address shall have theretofore been furnished to Customer in writing, specifying the obligation which QTS has failed to perform; provided, however, that if the nature of QTS’s obligation is such that more than thirty (30) days are required for performance, then QTS shall not be in default if QTS or Lender commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion, and provided further that if the nature of QTS’s failure to perform is such that it is not curable, then QTS shall be in default as of the occurrence of such event. In the event of any default by QTS, Customer’s exclusive remedies shall be an action for specific performance or action for actual damages. Customer hereby waives the benefit of any laws granting it the right to perform QTS’s obligation, and Customer shall not be entitled to perform any of QTS’s obligations. QTS’s liability arising out of or relating to this Agreement, including without limitation on account of performance or nonperformance of obligations hereunder, regardless of the form of the cause of action, whether in contract, tort (including without limitation negligence), statute or otherwise, shall be subject to the other terms of this Agreement and shall in no event exceed the amounts payable by Customer to QTS under this Agreement.