Common use of Mortgagee Cures Clause in Contracts

Mortgagee Cures. Each Permitted Mortgagee will have the same period after receipt of the notice as provided in Section 15.4 to it for remedying the default or causing the same to be remedied as is given Tenant after notice to it plus thirty (30) days thereafter and Landlord agrees to accept such performance on the part of a Permitted Mortgagee as though the same had been done or performed by Tenant. At the expiration of the period provided in such notice plus thirty (30) days, Landlord will take no action to effect a termination of this Lease by reason of any default (except a default in the payment of Base Rent or Additional Rent or a default under any other provision of this Lease which requires Tenant to pay money) without first giving to each Permitted Mortgagee reasonable time within which either (i) to obtain possession of the Premises (including possession by a receiver) and thereafter to cure such default, or (ii) to institute foreclosure proceedings and to complete such foreclosure, or otherwise to acquire Tenant’s interest under this Lease with diligence and without unreasonable delay. In either such case, the default of which notice shall have been given shall be deemed cured. The Permitted Mortgagee shall not be required to continue such foreclosure proceedings if the default shall be cured by Tenant; provided, further, that nothing herein shall preclude Landlord from exercising any rights or remedies under this Lease with respect to any other default by Tenant during any period of such forbearance. The provisions of this Section 15.5 are conditioned on the following provisions:

Mortgagee Cures. Each Permitted Mortgagee will have the same period after receipt of the notice as provided in Section 15.4 to it for remedying the default or causing the same to be remedied as is given Tenant after notice to it plus thirty (30) days thereafter and Landlord agrees to accept such performance on the part of a Permitted Mortgagee as though the same had been done or performed by Tenant. At the expiration of the period provided in such notice plus thirty (30) days, Landlord will take no action to effect a termination of this Lease by reason reasons of any default (except a default in the payment of Base Rent or Additional Rent or a default under any other provision of this Lease which requires Tenant to pay money) without first giving to each the First Permitted Mortgagee of Record a reasonable time within which either (i) to obtain possession of the Premises (including possession by a receiver) and thereafter to cure such defaultdefault if the default be one which can be cured with the exercise of reasonable diligence by the Permitted Mortgagee, or (ii) to institute foreclosure proceedings and to complete such foreclosure, or otherwise to acquire Tenant’s 's interest under this Lease with diligence and without unreasonable delaydelay in the case of a default which cannot be cured with the exercise of reasonable diligence by the Permitted Mortgagee. In either such case, the default of which notice shall have been given shall be deemed cured. The Permitted Mortgagee shall not be required to continue such foreclosure proceedings if the default shall be cured by Tenant; provided, further, that nothing herein shall preclude Landlord from exercising any rights or remedies under this Lease with respect to any other default by Tenant during any period of such forbearance. The In the event that the First Permitted Mortgagee obtains possession of the Premises pursuant to the provisions of this Section, Landlord agrees that, notwithstanding the use restrictions set forth in the second sentence of Section 15.5 are conditioned on 8.2, with prior approval by Landlord of the following provisions:proposed use, which approval shall not be unreasonably withheld, the Premises may be used for any purpose not prohibited under this Lease. Landlord acknowledges that it would be unreasonable to withhold its approval of a use which is the same as or is substantially similar to an existing use within the center which was previously approved by Landlord.

Mortgagee Cures. Each A Permitted Mortgagee will shall have the same period period, after receipt of the notice as provided in under Section 15.4 to it 14.3(e), for remedying the default or causing the same to be remedied as is given Tenant under Article 14 after notice to it Tenant, plus thirty (30) days thereafter days, and Landlord the Town agrees to accept such performance or cure on the part of a Permitted Mortgagee as though the same had been done or performed by TenantXxxxxx. At the expiration of the period provided in such notice plus thirty (30) daysunder the preceding sentence, Landlord will the Town shall take no action to effect a termination of this Lease Sublease by reason of any default (except a default in the payment of Base Rent or Additional Rent Rent, or a default under any other provision of this Lease Sublease which requires Tenant to pay money) without first giving to each the Permitted Mortgagee reasonable time an additional ninety days (or such longer period as may be reasonably required to accomplish the task in question provided Permitted Mortgagee is diligently pursuing an acquisition or foreclosure, and provided further that such additional period shall not extend beyond one-hundred-eighty days unless Tenant is under the protection of federal Bankruptcy law, in which case the above deadline shall be extended one day for each day that Permitted Mortgagee is unable to exercise Permitted Mortgagee's remedies due to the automatic stay or other order of the United States Bankruptcy Court) within which either (i) to obtain possession of the Sublease Premises (including possession by a receiver) and thereafter to commence to cure such defaultdefault and to pursue such cure diligently, or (ii) to institute and complete foreclosure proceedings proceedings, and thereafter to commence to cure such default and to complete pursue such foreclosurecure diligently, or otherwise to acquire Tenant’s interest under this Lease with diligence and without unreasonable delay. In either such case, the default of which notice shall have been given shall be deemed cured. The Permitted Mortgagee shall not be required to continue such foreclosure proceedings if the default shall be cured by Tenant; provided, further, that nothing herein shall preclude Landlord from exercising any rights or remedies under this Lease with respect to any other default by Tenant during any period of such forbearance. The provisions of this Section 15.5 are conditioned on the following provisions:or