Common use of Notice of Default by Landlord Clause in Contracts

Notice of Default by Landlord. (a) Tenant must forward to Mortgagee a copy of any notice given by Tenant to Landlord (i) in which Tenant claims or alleges that Landlord failed to perform any of Landlord’s obligations under the Lease, (ii) in which Tenant claims or alleges that an Event of Default by Landlord exists under the Lease, (iii) demanding reimbursement for expenditures made or obligations incurred by Tenant pursuant to the Lease, or (iv) terminating the Lease. Tenant must forward such copies to Mortgagee concurrently with the giving of any such notice to Landlord under the Lease. (b) If any act or omission of Landlord would give Tenant the right, immediately or after the lapse of a period of time, to cancel or terminate the Lease, to xxxxx rent payable under the Lease, or to claim a partial or total eviction, Tenant must not exercise such right until (i) Tenant has given written notice of such act or omission to Mortgagee and (ii) 30 days after Landlord’s cure period, if any, under the Lease expires, during which period Mortgagee has the right, but not the obligation, to remedy such act or omission, and Tenant must give Mortgagee access to the Premises to effect the same. Item 3.(b)(ii) does not apply to an abatement of rent pursuant to the Lease. Tenant may exercise Tenant’s self-help remedy under the Lease after notice to Mortgagee but before the expiration of the waiting period provided by item 3.(b)(ii) if the curing of the default of Landlord before the expiration of the Mortgagee’s cure period is reasonably necessary to prevent injury to persons, property, or both.

Notice of Default by Landlord. (a) Tenant must forward to Mortgagee a copy of any notice given by Tenant to Landlord Landlord (i) in which Tenant claims or alleges that Landlord failed to perform any of Landlord’s obligations under the Lease, (ii) in which Tenant claims or alleges that an Event of Default by Landlord exists under the Lease, (iii) demanding reimbursement for expenditures made or obligations incurred by Tenant pursuant to the Lease, or (iv) terminating the Lease. Tenant must forward such copies to Mortgagee concurrently with the giving of any such notice to Landlord under the Lease. (b) If any act or omission of Landlord would give Tenant the right, immediately or after the lapse of a period of time, to cancel or terminate the Lease, to xxxxx rent payable under the Lease, or to claim a partial or total eviction, Tenant must not exercise such right until until (i) Tenant has given written notice of such act or omission to Mortgagee and (ii) 30 days after Landlord’s cure period, if any, under the Lease expires, during which period Mortgagee has the right, but not the obligation, to remedy such act or omission, and Tenant must give Mortgagee access to the Premises to effect the same. Item 3.(b)(ii) does not apply to an abatement of rent pursuant to the Lease. Tenant may exercise Tenant’s self-help remedy under the Lease after notice to Mortgagee but before the expiration of the waiting period provided by item 3.(b)(ii) if the curing of the default of Landlord before the expiration of the Mortgagee’s cure period is reasonably necessary to prevent injury to persons, property, or both.

Notice of Default by Landlord. (a) Tenant must forward Tenant, as lessee under the Lease, hereby covenants and agrees to Mortgagee a copy of any give Lender written notice given by Tenant to Landlord (i) in which Tenant claims or alleges that properly specifying wherein the Landlord under the Lease has failed to perform any of Landlord’s the covenants or obligations of the Landlord under the Lease, (ii) in which Tenant claims or alleges that an Event of Default by Landlord exists under the Lease, (iii) demanding reimbursement for expenditures made or obligations incurred by Tenant pursuant to the Lease, or (iv) terminating the Lease. Tenant must forward such copies to Mortgagee concurrently simultaneously with the giving of any notice of such notice default to the Landlord under the Lease. (b) If any act or omission provisions of Landlord would give Tenant the right, immediately or after the lapse of a period of time, to cancel or terminate the Lease, to xxxxx rent payable under the Lease, or to claim a partial or total eviction, . Tenant must not exercise such right until (i) Tenant has given written notice of such act or omission to Mortgagee and (ii) 30 days after Landlord’s cure period, if any, under the Lease expires, during which period Mortgagee has agrees that Lender shall have the right, but not the obligation, to remedy such act or omissionwithin the time period specified in the Lease, and Tenant must give Mortgagee access to plus an additional thirty (30) days (or, if no time period is specified, a reasonable time, provided that the Premises to effect Lender is diligently prosecuting the same. Item 3.(b)(ii) does not apply to an abatement from the later of rent pursuant to the Lease. Tenant may exercise Tenant’s self-help remedy under the Lease after notice to Mortgagee but before (i) the expiration of the waiting period allowed under the Lease for cure by Landlord, or (ii) the date Tenant has notified Lender that Landlord has failed to cure such default within the period provided in the Lease (or within such additional time as is reasonably required to cure any such default, provided Lender shall be diligently prosecuting the same) to correct or remedy, or cause to be corrected or remedied, each such default before Tenant may take any action under the Lease by item 3.(b)(ii) if the curing reason of the such default. If, in order to cure a default of Landlord before Landlord, it is necessary for Lender to take possession or acquire title to the expiration of the Mortgagee’s cure period is reasonably necessary to prevent injury to persons, propertyProperty, or both, then Lender shall be afforded such time as may reasonably be required in order to institute and prosecute proceedings to do so, provided Lender shall diligently prosecute the same. Such notices shall be delivered to the Lender, the Landlord and the Tenant at the addresses set forth in the preamble to this Agreement with copies to be sent as follows: If to Lender, to the attention of Xxxxxxxx Xxxxxxxx, First Vice President with copies to: Xxxxx X. Xxxxxx, Esq. Xxxxxx Xxxxxx LLP 000 Xxxxxx Xxxxxx, 00xx Xxxxx Xxxxxx, XX 00000 If to Landlord, with a copy to: Goulston & Storrs PC 000 Xxxxxxxx Xxxxxx Xxxxxx, Xxxxxxxxxxxxx 00000-0000 Attn: Hilco/University Avenue And: Hilco Redevelopment Partners 000 X. Xxxxxx Drive, Suite 3000 Chicago, IL 60606 Attn: Xxxx Xxxx, General Counsel If to Tenant, with a copy to: Xxxxxxxxxx Xxxxxxx LLP 0000 Xxxxxx xx xxx Xxxxxxxx Xxx Xxxx, Xxx Xxxx, 00000 Attn: Xxxxxx X. Xxxxxxxx or to such other address as any party shall provide to the other parties by giving written notice to such other parties as set forth above, or to such other address as may be designated by written notice from such other parties.