Notice and Right to Cure. Tenant agrees to provide Agent with a copy of each notice of default under the Lease or failure of Landlord to satisfy a condition precedent to Tenant’s obligations under the Lease, at the same time as Tenant provides Landlord with such notice, and that in the event of any default or failure by the Landlord under the Lease, Tenant will take no action to terminate the Lease: (a) if the default or failure is not curable by Agent (so long as the default does not interfere with Tenant’s use and occupation of the Premises), or (b) if the default or failure is curable by Agent, unless the default or failure remains uncured for a period of thirty (30) days after written notice thereof shall have been given, postage prepaid, to Landlord at Landlord’s address, and to Agent at the address provided in Section 8 below; provided, however, that if any such default or failure is such that it reasonably cannot be cured within such thirty (30) day period, such period shall be extended for such additional period of time as shall be reasonably necessary (including, without limitation, a reasonable period of time to obtain possession of the Property and to foreclose the Mortgage, provided, however, that in no event shall such period exceed 150 days), if Agent gives Tenant written notice within such thirty (30) day period of Agent’s election to undertake the cure of the default or failure and if curative action (including, without limitation, action to obtain possession and foreclose) is instituted within a reasonable period of time and is thereafter diligently pursued; and provided, further, however, that the foregoing notice and extended cure periods shall not limit or delay, except as otherwise set forth herein, any rent abatement or termination rights permitted to Tenant under the Lease under Sections 18 or 19, provided, however, that Tenant gives Agent a copy of any written notice and, with respect to Tenant’s abatement rights pursuant to Sections 18 or 19, neither Landlord or Agent pays the full amount due to Tenant within thirty (30) days after such notice. Agent shall have no obligation to cure any default or failure under the Lease.
Appears in 4 contracts
Samples: License Agreement (Sigilon Therapeutics, Inc.), License Agreement (Sigilon Therapeutics, Inc.), License Agreement (Tcr2 Therapeutics Inc.)
Notice and Right to Cure. Tenant agrees to provide Agent Lender with a copy of each written notice of default given to Landlord under the Lease or failure of Landlord to satisfy a condition precedent to Tenant’s obligations under the Lease, at the same time as Tenant provides Landlord with such notice, and that in notice of default is given to Landlord. In the event of any default or failure by the Landlord under the Lease, Tenant will take no action to terminate the Lease: (a) if the default or failure is not curable by Agent Lender (so long as the default does not interfere with TenantXxxxxx’s use and occupation occupancy of the Premises), or (b) if the default or failure is curable by AgentLender, unless the default or failure remains uncured for a period of thirty sixty (3060) days after written notice thereof shall have been given, postage prepaid, to Landlord at Landlord’s address, and to Agent Lender at the address provided in Section 8 7 below; provided, however, that if any such default or failure is such that it reasonably cannot be cured within such thirty sixty (3060) day period, such period shall be extended for such additional period of time as shall be reasonably necessary (including, without limitation, a reasonable period of time to obtain possession of the Property and to foreclose the Mortgage, provided, however, that in no event shall such period exceed 150 days), if Agent Lender gives Tenant written notice within such thirty sixty (3060) day period of AgentXxxxxx’s election to undertake the cure of the default or failure and if curative action (including, without limitation, action to obtain possession and forecloseforeclosure) is instituted within a reasonable period of time and is thereafter diligently pursued; and provided. Notwithstanding the foregoing, further, however, that the foregoing notice and extended cure periods shall not limit or delay, except as otherwise set forth herein, any rent abatement or termination rights permitted to Tenant under the Lease under Sections 18 or 19, provided, however, that Tenant gives Agent a copy of any written notice and, with respect to Tenant’s abatement rights pursuant to Sections 18 or 19, neither Landlord or Agent pays the full amount due to Tenant within thirty (30) days after such notice. Agent Lender shall have no obligation to cure any default or failure under the Lease.
Appears in 3 contracts
Samples: Office Lease Agreement (Alpha Healthcare Acquisition Corp Iii), Office Lease Agreement (Alpha Healthcare Acquisition Corp Iii), Office Lease Agreement (Alpha Healthcare Acquisition Corp Iii)
Notice and Right to Cure. Landlord hereby notifies Tenant that the ------------------------ Project is subject to the mortgages set forth on Appendix E attached hereto (Mortgages Currently Affecting the Project), and Landlord agrees promptly to notify Tenant of the placing of any additional Ground Leases, mortgages or trust deeds against the real property or leasehold estate of which the Premises form a part. Tenant agrees to provide Agent with give the mortgagees shown on Appendix E and any other mortgagee or holder of a deed of trust or lessor of any Ground Lease, by registered mail, a copy of each any notice of default served upon the Landlord, provided that prior to such notice Tenant has been notified, in writing (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of such mortgagee, holder of a deed of trust or lessor under any Ground Lease. Tenant further agrees that if Landlord shall have failed to cure such default within the Lease or failure of Landlord to satisfy a condition precedent to Tenant’s obligations under the time provided for in this Lease, at the same time as Tenant provides Landlord with then such noticemortgagee, and that in the event holder of a deed of trust or lessor under any default or failure by the Landlord under the Lease, Tenant will take no action to terminate the Lease: (a) if the default or failure is not curable by Agent (so long as the default does not interfere with Tenant’s use and occupation of the Premises), or (b) if the default or failure is curable by Agent, unless the default or failure remains uncured for a period of Ground Lease shall have an additional thirty (30) days after written notice thereof shall have been givenwithin which to cure such default, postage prepaid, to Landlord at Landlord’s address, and to Agent at the address provided in Section 8 below; provided, however, that or if any such default or failure is such that it reasonably cannot be cured within that time, such mortgagee, holder of a deed of trust or lessor under any Ground Lease shall have such additional time as may be necessary to cure such default, provided that within such thirty (30) day perioddays, such period shall be extended for such additional period any mortgagee, holder of time a deed of trust or lessor under any Ground Lease, as shall be reasonably necessary (includingthe case may be, without limitation, a reasonable period of time to obtain possession of the Property has commenced and to foreclose the Mortgage, provided, however, that in no event shall such period exceed 150 days), if Agent gives Tenant written notice within such thirty (30) day period of Agent’s election to undertake is diligently pursuing the cure of such default (including but not limited to commencement of foreclosure or lease forfeiture proceedings, if necessary to effect such cure), and Tenant shall not pursue any of the remedies it may have for such default and this Lease shall not be terminated, while such cure is being diligently pursued, so long as the default or failure and if curative action (including, without limitation, action to obtain possession and foreclose) is instituted completely cured within a reasonable time thereafter. During the period between the giving of time and is thereafter diligently pursued; and provided, further, however, that the foregoing such notice and extended cure periods the remedying of Landlord's default, the rent herein recited shall not limit or delay, except as otherwise set forth herein, be abated and apportioned to the extent that any rent abatement or termination rights permitted to Tenant under part of the Lease under Sections 18 or 19, provided, however, that Tenant gives Agent a copy of any written notice and, with respect to Tenant’s abatement rights pursuant to Sections 18 or 19, neither Landlord or Agent pays the full amount due to Tenant within thirty (30) days after such notice. Agent Premises shall have no obligation to cure any default or failure under the Leasebe untenantable.
Appears in 1 contract
Samples: Indenture (Naviant Inc)
Notice and Right to Cure. Tenant agrees to provide Agent Lender with a copy of each notice of default under the Lease or failure of given to Landlord to satisfy a condition precedent to Tenant’s obligations under the Lease, at the same time as Tenant provides Landlord with such noticenotice of default is given to Landlord, and that in the event of any default or failure by the Landlord under the Lease, Tenant will take no action to terminate the Lease: Lease (a) if the default or failure is not curable by Agent Lender (so long as the default does not violate any applicable laws and/or interfere with Tenant’s 's use and occupation of the Premises), or (b) if the default or failure is curable by AgentLender, unless the default or failure remains uncured for a period of thirty (30) days after written notice thereof shall have been given, postage prepaid, to Landlord at Landlord’s address, 's address and to Agent Lender at the address provided in Section 8 7 below; provided, however, that if any such default or failure is such that it reasonably cannot be cured within such thirty (30) day period, such period shall be extended for such additional period of time as shall be reasonably necessary (including, without limitation, a reasonable period of time to obtain possession of the Property and to foreclose the Mortgage, provided, however, that in no event shall such period exceed 150 daysDeed of Trust), if Agent Lender gives Tenant written notice within such thirty (30) day period of Agent’s Lender's election to undertake the cure of the default or failure and if curative action (including, without limitation, action to obtain possession and foreclose) is instituted within a reasonable period of time and is thereafter diligently pursued; and provided, further, however, provided that the foregoing default is cured no later than the later of (i) ninety (90) days from the date of Lender's notice and extended cure periods shall not limit or delay, except (ii) such amount of time as otherwise set forth herein, any rent abatement or termination rights is permitted to Tenant Landlord under the terms of the Lease under Sections 18 or 19, provided, however, that Tenant gives Agent a copy of any written notice and, with respect to Tenant’s abatement rights pursuant to Sections 18 or 19, neither Landlord or Agent pays the full amount due to Tenant within thirty (30) days after such noticecure said default. Agent Lender shall have no obligation to cure any default or failure under the Lease.
Appears in 1 contract
Samples: Letter Agreement (KBS Real Estate Investment Trust II, Inc.)
Notice and Right to Cure. Tenant agrees to provide Agent with a copy of each notice of default under the Lease or failure of Landlord to satisfy a condition precedent to Tenant’s obligations under the Lease, at the same time as Tenant provides Landlord with such notice, and that in the event of any default or failure by the Landlord under the Lease, Tenant will take no action to terminate the Lease: Lease (a) if the default or failure is not curable by Agent (so long as the default does not interfere with Tenant’s use and occupation of the Premises), or (b) if the default or failure is curable by Agent, unless the default or failure remains uncured for a period of thirty (30) days after written notice thereof shall have been given, postage prepaid, to Landlord at Landlord’s address, and to Agent at the address provided in Section 8 7 below; provided, however, that if any such default or failure is such that it reasonably cannot be cured within such thirty (30) day period, such period shall be extended for such additional period of time as shall be reasonably necessary (including, without limitation, a reasonable period of time to obtain possession of the Property and to foreclose the Mortgage, provided, however, that in no event shall such period exceed 150 days), if Agent gives Tenant written notice within such thirty (30) day period of Agent’s election to undertake the cure of the default or failure and if curative action (including, without limitation, action to obtain possession and foreclose) is instituted within a reasonable period of time and is thereafter diligently pursued; and provided, further, however, that the foregoing notice and extended cure periods shall not limit or delay, except as otherwise set forth herein, any rent abatement or termination rights permitted to Tenant under the Lease under Sections 18 or 19, provided, however, that Tenant gives Agent a copy of any written notice and, with respect to Tenant’s abatement rights pursuant to Sections 18 or 19, neither Landlord or Agent pays the full amount due to Tenant within thirty (30) days after such notice. Agent shall have no obligation to cure any default or failure under the Lease.
Appears in 1 contract
Samples: Parking License Agreement (Alexion Pharmaceuticals Inc)
Notice and Right to Cure. Tenant agrees to provide Agent Lender with a copy of each notice of default under the Lease or failure of given to Landlord to satisfy a condition precedent to Tenant’s obligations under the Lease, at the same time as Tenant provides Landlord with such noticenotice of default is given to Landlord, and that in the event of any default or failure by the Landlord under the Lease, Tenant will take no action to terminate the Lease: Lease (a) if the default or failure is not curable by Agent Lender (so long as the default does not violate any applicable laws and/or interfere with Tenant’s 's use and occupation of the Premises), or (b) if the default or failure is curable by AgentLender, unless the default or failure remains uncured for a period of thirty (30) days after written notice thereof shall have been given, postage prepaid, to Landlord at Landlord’s address, 's address and to Agent Lender at the address provided in Section 8 7 below; provided, however, that if any such default or failure is such that it reasonably cannot be cured within such thirty (30) day period, such period shall be extended for such additional period of time oftime as shall be reasonably necessary (including, without limitation, a reasonable period of time to obtain possession of the Property and to foreclose the Mortgage, provided, however, that in no event shall such period exceed 150 daysDeed of Trust), if Agent Lender gives Tenant written notice within such thirty (30) day period of Agent’s Lender's election to undertake the cure of the default or failure and if curative action (including, without limitation, action to obtain possession and foreclose) is instituted within a reasonable period of time and is thereafter diligently pursued; and provided, further, however, provided that the foregoing default is cured no later than the later of (i) ninety (90) days from the date of Lender's notice and extended cure periods shall not limit or delay, except (ii) such amount of time as otherwise set forth herein, any rent abatement or termination rights is permitted to Tenant Landlord under the terms of the Lease under Sections 18 or 19, provided, however, that Tenant gives Agent a copy of any written notice and, with respect to Tenant’s abatement rights pursuant to Sections 18 or 19, neither Landlord or Agent pays the full amount due to Tenant within thirty (30) days after such noticecure said default. Agent Lender shall have no obligation to cure any default or failure under the Lease.
Appears in 1 contract
Samples: Letter Agreement (KBS Real Estate Investment Trust II, Inc.)
Notice and Right to Cure. If the Property is subject to any ground lease or mortgage identified with name and address of ground lessor or mortgagee in Exhibit F to this Lease (as the same may be amended from time to time by written notice to Tenant) then Tenant agrees to provide Agent with send by registered or certified mail to any ground lessor or mortgagee identified either in such Exhibit or in any later notice from Landlord to Tenant a copy of each any notice of default sent by Tenant to Landlord. If Landlord fails to cure such default within the required time period under the Lease or failure of Landlord to satisfy a condition precedent to Tenant’s obligations under the this Lease, at the same but ground lessor or mortgagee begins to cure within ten (10) days after such period and proceeds diligently to complete such cure, then ground lessor or mortgagee shall have such additional time as Tenant provides Landlord with is necessary to complete such noticecure, including any time necessary to obtain possession if possession is necessary to cure, and that in the event of any default or failure by the Landlord under the Lease, Tenant will take no action shall not begin to terminate the Lease: (a) if the default or failure is not curable by Agent (enforce its remedies so long as the cure is being diligently pursued. Should Landlord be deemed to be in material default does not interfere of this Lease, then Landlord shall be liable to Tenant for all damages sustained by Tenant as a direct result of Landlord’s breach. If any such default materially interferes with Tenant’s use business operation in the Premises, Tenant may give Landlord and occupation the holder of any first mortgage or deed of trust covering the Premises a second written notice specifying exactly the nature of the Premises)Landlord’s failure and its impact on Tenant’s business operation in the Premises and the further remedial action deemed necessary by Tenant. If such remedial action is not undertaken within ten (10) days of such second written notice, or Tenant shall be entitled to terminate this Lease, but in no event earlier than ten (b) if the default or failure is curable by Agent, unless the default or failure remains uncured for a period of thirty (3010) days after written the second notice thereof shall have been given, postage prepaid, to Landlord at and the holder of any first mortgage or deed of trust covering the Premises. Notwithstanding the foregoing, Tenant shall not be entitled to terminate this Lease as a result of Landlord’s address, and default if Landlord or the ground lessor or mortgagee is making diligent efforts to Agent at perform the address provided in Section 8 below; provided, however, that if any such default or failure is such that it reasonably cannot be cured within such thirty (30) day period, such period obligations required of Landlord under this Lease. Nothing herein contained shall be extended for such additional period of time as shall be reasonably necessary (including, without limitation, a reasonable period of time interpreted to obtain possession of the Property and to foreclose the Mortgage, provided, however, mean that in no event shall such period exceed 150 days), if Agent gives Tenant written notice within such thirty (30) day period of Agent’s election to undertake the cure of the default or failure and if curative action (including, without limitation, action to obtain possession and foreclose) is instituted within a reasonable period of time and is thereafter diligently pursued; and provided, further, however, that the foregoing notice and extended cure periods shall not limit or delay, except as otherwise set forth herein, excused from paying any rent abatement or termination rights permitted to Tenant under the Lease under Sections 18 or 19, provided, however, that Tenant gives Agent due hereunder as a copy result of any written notice and, with respect to Tenant’s abatement rights pursuant to Sections 18 or 19, neither Landlord or Agent pays the full amount due to Tenant within thirty (30) days after such notice. Agent shall have no obligation to cure any default or failure under the Leaseby Landlord.
Appears in 1 contract
Samples: Lease (Deltagen Inc)
Notice and Right to Cure. Landlord hereby notifies Tenant ------------------------ that the Project is subject to the mortgages set forth on Appendix E attached hereto (Mortgages Currently Affecting the Project), and Landlord agrees promptly to notify Tenant of the placing of any additional Ground Leases, mortgages or trust deeds against the real property or leasehold estate of which the Premises form a part. Tenant agrees to provide Agent with give the mortgagees shown on Appendix E and any other mortgagee or holder of a deed of trust or lessor of any Ground Lease, by registered mail, a copy of each any notice of default served upon the Landlord, provided that prior to such notice Tenant has been notified, in writing (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of such mortgagee, holder of a deed of trust or lessor under any Ground Lease. Tenant further agrees that if Landlord shall have failed to cure such default within the Lease or failure of Landlord to satisfy a condition precedent to Tenant’s obligations under the time provided for in this Lease, at the same time as Tenant provides Landlord with then such noticemortgagee, and that in the event holder of a deed of trust or lessor under any default or failure by the Landlord under the Lease, Tenant will take no action to terminate the Lease: (a) if the default or failure is not curable by Agent (so long as the default does not interfere with Tenant’s use and occupation of the Premises), or (b) if the default or failure is curable by Agent, unless the default or failure remains uncured for a period of Ground Lease shall have an additional thirty (30) days after written notice thereof shall have been givenwithin which to cure such default, postage prepaid, to Landlord at Landlord’s address, and to Agent at the address provided in Section 8 below; provided, however, that or if any such default or failure is such that it reasonably cannot be cured within that time, such mortgagee, holder of a deed of trust or lessor under any Ground Lease shall have such additional time as may be necessary to cure such default, provided that within such thirty (30) day perioddays, such period shall be extended for such additional period any mortgagee, holder of time a deed of trust or lessor under any Ground Lease, as shall be reasonably necessary (includingthe case may be, without limitation, a reasonable period of time to obtain possession of the Property has commenced and to foreclose the Mortgage, provided, however, that in no event shall such period exceed 150 days), if Agent gives Tenant written notice within such thirty (30) day period of Agent’s election to undertake is diligently pursuing the cure of such default (including but not limited to commencement of foreclosure or lease forfeiture proceedings, if necessary to effect such cure), and Tenant shall not pursue any of the remedies it may have for such default and this Lease shall not be terminated, while such cure is being diligently pursued, so long as the default or failure and if curative action (including, without limitation, action to obtain possession and foreclose) is instituted completely cured within a reasonable time thereafter. During the period between the giving of time and is thereafter diligently pursued; and provided, further, however, that the foregoing such notice and extended cure periods the remedying of Landlord's default, the rent herein recited shall not limit or delay, except as otherwise set forth herein, be abated and apportioned to the extent that any rent abatement or termination rights permitted to Tenant under part of the Lease under Sections 18 or 19, provided, however, that Tenant gives Agent a copy of any written notice and, with respect to Tenant’s abatement rights pursuant to Sections 18 or 19, neither Landlord or Agent pays the full amount due to Tenant within thirty (30) days after such notice. Agent Premises shall have no obligation to cure any default or failure under the Leasebe untenantable.
Appears in 1 contract
Samples: Indenture (Open Port Technology Inc)
Notice and Right to Cure. Tenant agrees Notwithstanding anything contained herein to provide Agent with a copy of each notice of default under the Lease or failure of Landlord to satisfy a condition precedent to Tenant’s obligations under the Lease------------------------ contrary, at the same time as Tenant provides Landlord with such notice, and that in the event of any default or failure by MAPICS of MAPICS' obligations under this Sublease, GECC shall notify MAPICS in writing of said default; provided, however, that GECC shall have no obligation to notify MAPICS of MAPICS' nonpayment of Rent under this Sublease more than twice in any period of twelve (12) consecutive months during the Landlord Sublease Term. For a period of ten (10) consecutive calendar days after the date of any such notice from GECC concerning a monetary default by MAPICS under this Sublease, MAPICS shall have the Lease, Tenant will take no action right to terminate the Lease: (a) if cure the default or failure is not curable by Agent (so long as evidenced in the default does not interfere with Tenant’s use and occupation of the Premises), or (b) if the default or failure is curable by Agent, unless the default or failure remains uncured for notice. For a period of thirty (30) consecutive calendar days after written notice thereof shall have been given, postage prepaid, to Landlord at Landlord’s address, and to Agent at the address provided in Section 8 below; provided, however, that if date of any such notice from GECC concerning a nonmonetary default by MAPICS under this Sublease, or failure is if such that it reasonably nonmonetary default cannot be cured within such with thirty (30) day perioddays, such period shall be extended for such additional period of reasonable time as shall may be reasonably necessary (including, without limitation, a reasonable period of time to obtain possession of the Property and to foreclose the Mortgage, provided, however, that in no event shall complete such period exceed 150 days), if Agent gives Tenant written notice within cure as long as MAPICS commences such thirty (30) day period of Agent’s election to undertake the cure of the default or failure and if curative action (including, without limitation, action to obtain possession and foreclose) is instituted within a reasonable period of time and is thereafter diligently pursued; and provided, further, however, that the foregoing notice and extended cure periods shall not limit or delay, except as otherwise set forth herein, any rent abatement or termination rights permitted to Tenant under the Lease under Sections 18 or 19, provided, however, that Tenant gives Agent a copy of any written notice and, with respect to Tenant’s abatement rights pursuant to Sections 18 or 19, neither Landlord or Agent pays the full amount due to Tenant within said thirty (30) days after and diligently pursues such cure thereafter, MAPICS shall have the right to cure the default evidenced in the notice. Agent shall have no obligation In the event MAPICS fails to cure any default or failure under this Sublease within the Leasetime periods specified in this paragraph, GECC shall have the right, after expiration of the applicable cure period, to proceed with enforcement of GECC's rights and remedies arising out of any such default by MAPICS.
Appears in 1 contract
Notice and Right to Cure. Tenant agrees to provide Agent with a copy of each notice of default under the Lease or failure of given to Landlord to satisfy a condition precedent to Tenant’s obligations under the Lease, at the same time as Tenant provides Landlord with such noticenotice of default is given to the Landlord, and that in the event of any default or failure by the Landlord under the Lease (except for Landlord’s obligations under Section 4.3 or Article XI of the Lease), Tenant will take no action to terminate the Lease: (a) if the default or failure is not curable by Agent (so long as the default does not interfere with Tenant’s use and occupation of the Premises), or (b) if the default or failure is curable by Agent, unless the default or failure remains uncured for a period of thirty (30) days after written notice thereof shall have been given, postage prepaid, to Landlord at Landlord’s address, and to Agent at the address provided in Section 8 7 below; provided, however, that if any such default or failure is such that it reasonably cannot be cured within such thirty (30) day period, such period shall be extended for such additional period of time as shall be reasonably necessary (including, without limitation, a reasonable period of time to obtain possession of the Property and to foreclose the Mortgage, provided, however, that in no event shall such period exceed 150 days), if Agent gives Tenant written notice within such thirty (30) day period of Agent’s election to undertake the cure of the default or failure and if curative action (including, without limitation, action to obtain possession and foreclose) is instituted within a reasonable period of time and is thereafter diligently pursued; and provided, further, however, that the foregoing notice and extended cure periods shall not limit or delay, except as otherwise set forth herein, any rent abatement or termination rights permitted to Tenant under the Lease under Sections 18 or 19, provided, however, that Tenant gives Agent a copy of any written notice and, with respect to Tenant’s abatement rights pursuant to Sections 18 or 19, neither Landlord or Agent pays the full amount due to Tenant within thirty (30) days after such notice. Agent shall have no obligation to cure any default or failure under the Lease. The foregoing shall not apply and Tenant shall have the right to terminate the Lease pursuant to Section 4.4 and Article XI of the Lease if Landlord fails to perform its obligations under such provisions of the Lease within the applicable time periods therefor.
Appears in 1 contract
Notice and Right to Cure. Tenant agrees to provide Agent with a copy of each notice of default under the Lease or failure of Landlord to satisfy a condition precedent to Tenant’s obligations under the Lease, at the same time as Tenant provides Landlord with such notice, and that in the event of any default or failure by the Landlord under the Lease, Tenant will take no action to terminate the Lease: Lease (a) if the default or failure is not curable by Agent (so long as the default does not interfere with Tenant’s use and occupation of the Premises), or (b) if the default or failure is curable by Agent, unless the default or failure remains uncured for a period of thirty (30) days after written notice thereof shall have been given, postage prepaid, to Landlord at Landlord’s address, and to Agent at the address provided in Section 8 below; provided, however, that if any such default or failure is such that it reasonably cannot be cured within such thirty (30) day period, such period shall be extended for such additional period of time as shall be reasonably necessary (including, without limitation, a reasonable period of time to obtain possession of the Property and to foreclose the Mortgage, provided, however, that in no event shall such period exceed 150 days), if Agent gives Tenant written notice within such thirty (30) day period of Agent’s election to undertake the cure of the default or failure and if curative action (including, without limitation, action to obtain possession and foreclose) is instituted within a reasonable period of time and is thereafter diligently pursued; and provided, further, however, that the foregoing notice and extended cure periods shall not limit or delay, except as otherwise set forth herein, ,: (a) any rent abatement or termination rights permitted to Tenant under the Lease under Sections 18 2(c), 18, 19 or 1931, provided, however, that Tenant gives Agent a copy of any written notice and, with respect to Tenant’s abatement rights pursuant to Sections 18 2(c), 18, 19 or 1931, neither Landlord or Agent pays the full amount due to Tenant within thirty (30) days after such notice, or (c) any self-help rights permitted to Tenant under the Lease upon the condition that the provisions in the following grammatical paragraph are complied with. Agent shall have no obligation to cure any default or failure under the Lease. Except in the event of any emergency threatening life or property, Tenant shall not exercise any self-help right under the Lease if, within ten (10) business days after Tenant notifies Agent of its intent to exercise self-help (which notice may not be given prior to the expiration of Landlord’s cure period) Agent notifies Tenant that Agent intends to cure the default if Landlord does not and within twenty (20) business days after Tenant notifies Agent of its intent to exercise self-help (which notice may not be given prior to the expiration of Landlord’s cure period, Agent actually commences to cure the default and thereafter proceeds diligently to complete such cure.
Appears in 1 contract
Samples: Lease Agreement (2seventy Bio, Inc.)