Common use of Notice to Leasehold Mortgagee Clause in Contracts

Notice to Leasehold Mortgagee. Lessor agrees, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgagee, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of the happening of any contingency referred to in Section 13.01 hereof, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee shall have the right, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its right to terminate this Lease as in Section 13.01 provided without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any such default or contingency and the same period or periods of time within which to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also to do, as are afforded to Lessee hereunder (and a period of thirty (30) days thereafter, and as are afforded to the leasehold mortgagee under this Section 13.08).

Appears in 3 contracts

Samples: Lease Agreement (FFP Partners L P), Building Lease Agreement (FFP Marketing Co Inc), Ground Lease Agreement (FFP Marketing Co Inc)

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Notice to Leasehold Mortgagee. Lessor agreesNotwithstanding anything herein to the contrary, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgageeany Tenant Default shall occur, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of the happening of any contingency referred to in Section 13.01 hereof, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee Landlord shall have the right, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its no right to terminate this Lease as in Section 13.01 provided without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any such default or contingency and the same period or periods of time within which to cure the same, including the terminate Tenant’s right to enter into possession of the Leased Premises, Premises without terminating this Lease unless Landlord shall deliver Notice to enable the Leasehold Mortgagee also of Landlord’s intent to do, as are afforded to Lessee hereunder (and a period of so terminate at least thirty (30) calendar days thereafterin advance of the proposed effective date of such termination. The provisions of Section 25.5 below shall apply if, within such thirty (30) calendar day termination notice period, any such Leasehold Mortgagee (i) pays or causes to be paid all amounts then due and in arrears as specified in the termination Notice to such Leasehold Mortgagee and which will become due during such thirty (30) calendar day period, and (ii) cures or, in good faith and with reasonable diligence and continuity, (a) commences to cure all non-monetary requirements of this Lease then in default and reasonably susceptible of being cured by such Leasehold Mortgagee or (b) if all such non-monetary defaults reasonably susceptible of being cured by such Leasehold Mortgagee are not cured within such thirty (30) calendar day period, then within an additional fifteen (15) calendar days after the end of such thirty (30) calendar day period, commences to exercise its rights to take possession of the Leased Premises as are afforded mortgagee (through seeking the appointment of a receiver or otherwise) or acquire or sell Tenant’s interest in this Lease by foreclosure or assignment in lieu thereof or otherwise with respect to a Leasehold Mortgage (which may include a petition to lift any stay imposed in bankruptcy proceedings and any application to remove any injunction limiting its right to take such actions, so long as, in each case, the leasehold mortgagee under this Section 13.08same is diligently and continuously pursued). The Leasehold Mortgagee shall not be required to continue to proceed to obtain possession, or to continue in possession as mortgagee, of the Leased Premises or to continue to prosecute foreclosure proceedings pursuant to clause (ii) above, if and when such Event of Default shall be cured.

Appears in 2 contracts

Samples: Ground Lease Agreement, Economic Development Agreement

Notice to Leasehold Mortgagee. Lessor agreesAnything contained in this Lease to the contrary notwithstanding, if and so long as any default shall occur which entitles Lessor to terminate this Lease, Lessor shall have no right to terminate this Lease unless, following the leasehold estate expiration of the period of time given Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgageeto cure such default (or the act or omission which gave rise to such default), to give such Lessor shall notify Leasehold Mortgagee of Lessor’s intent to so terminate at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of the happening of any contingency referred to in Section 13.01 hereof, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee shall have the right, within the period limited by any such notice and for an additional period of least thirty (30) days thereafterin advance of the proposed effective date of such termination if such default is capable of being cured by the payment of money, and at least forty-five (45) days in advance of the proposed effective date of such termination if such default is not capable of being cured by he payment of money (said 30 or 45 day period hereinafter referred to as the same extent “Termination Notice Period”). The provisions of Section 34.7 below of this Article shall apply if, during such 30 or 45 day Termination Notice Period, any Leasehold Mortgagee shall: (1) notify Lessor of such Leasehold Mortgagee’s desire to cure the default which is the subject of such notice; and (2) pay or cause to be paid all rent, additional rent, and other payments then due and in arrears as specified in the Termination Notice to such Leasehold Mortgagee and which may become due during such 30 or 45 day period; and (3) comply or in good faith, with the same effect as though done reasonable diligence and continuity, commence to comply with all non-monetary requirements of this Lease then in default and reasonably susceptible of being complied with by Lesseesuch Leasehold Mortgagees provided, however, that such Leasehold Mortgagee shall not be required during such 45-day period to take such action cure or to make such payment as may be necessary or appropriate commence to cure any such default consisting of Lessee’s failure to satisfy and discharge any lien, charge or contingency so specified, it being encumbrance against the intention Lessee’s interest in this Lease or the Premises or Building junior in priority to the lien of the parties hereto that Lessor shall not exercise its right to terminate this Lease as in Section 13.01 provided without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any Mortgage held by such default or contingency and the same period or periods of time within which to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also to do, as are afforded to Lessee hereunder (and a period of thirty (30) days thereafter, and as are afforded to the leasehold mortgagee under this Section 13.08)Mortgagee.

Appears in 1 contract

Samples: Lease Agreement (Kenan Advantage Group Inc)

Notice to Leasehold Mortgagee. Lessor agreesThe Authority, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgageeupon providing any notice to CCOI, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writingincluding but not limited to, written notice of any (i) a default or an event of default under this Lease, or (ii) a termination of this Lease, or (iii) a matter on which the happening Authority may predicate or claim a default or event of any contingency referred to in Section 13.01 hereofdefault, simultaneously with shall at the giving same time provide a copy of such notice to Lessee, and no every Leasehold Mortgagee. No such notice by the Authority to Lessee CCOI shall be effective or be deemed to have been duly given to Lessee hereunder CCOI unless and until a copy thereof has been so given to each such Leasehold Mortgagee by registered or certified mail at the address specified in the notice given pursuant to Section 9.08(b)(i). From and after the date such notice is also has been given to the a Leasehold Mortgagee; and the , such Leasehold Mortgagee shall have the right, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its right to terminate this Lease as in Section 13.01 provided without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any such default or contingency and the same period or periods of time within specified in Sections 9.08(g) and (h) to remedy, commence remedying, or cause to be remedied the defaults or events of defaults or acts or omissions which are specified in any such notice. The Authority shall accept such performance by or at the instigation of such Leasehold Mortgagee and does hereby authorize any such Leasehold Mortgagee to cure the same, including the right to enter into possession of take any such action at such Leasehold Mortgagee's option and does hereby authorize entry upon the Leased Premises, to enable Premises by the Leasehold Mortgagee also for such purposes. The Leasehold Mortgagee shall in no event be obligated to doremedy, as are afforded commence remedying, or cause to Lessee hereunder (and a period be remedied any default, event of thirty (30) days thereafter, and as are afforded to default or any acts or omissions specified in any notice received by the leasehold mortgagee under this Section 13.08)Leasehold Mortgagee.

Appears in 1 contract

Samples: Lease Agreement (Cornell Corrections Inc)

Notice to Leasehold Mortgagee. Lessor agrees(i) Anything contained in this Lease to the contrary notwithstanding, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgagee, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of shall occur which entitles the happening of any contingency referred University to in Section 13.01 hereofterminate this Lease, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee University shall have the right, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its no right to terminate this Lease as unless, following the expiration of the period of time given VT-ETV to cure such default, the University shall notify every Leasehold Mortgagee of the University's intent to so terminate at least 30 days in advance of the proposed effective date of such termination if such default is capable of being cured by the payment of money, and at least 60 days in advance of the proposed effective date of such termination if such default is not capable of being cured by the payment of money. The provisions of subsection (g) below of this Section 13.01 provided without first affording to 14 shall apply if, during such 30 or 60-day termination notice period, any Leasehold Mortgagee shall: (1) notify the same rights University of such Leasehold Mortgagee's desire to nullify such notice, and (2) pay or cause to be paid all Basic Rent, Additional Rent, and other payments then due and in arrears as specified in the same notices termination notice to such Leasehold Mortgagee and which may become due during such 30 or 60-day period, and (3) comply or in good faith, with respect reasonable diligence and continuity, commence to comply with all non-monetary requirements of this Lease then in default and reasonably susceptible of being complied with by such Leasehold Mortgagee. (ii) Any notice to be given by the University to a Leasehold Mortgagee pursuant to any such default or contingency and the same period or periods provision of time within which this Section 13 shall be deemed properly addressed if sent to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also who served the notice referred to do, as are afforded to Lessee hereunder in subsection (and b)(i)(1) unless notice of a period change of thirty (30) days thereafter, and as are afforded Leasehold Mortgage ownership has been given to the leasehold mortgagee under this Section 13.08University pursuant to subsection (b)(i)(2).

Appears in 1 contract

Samples: Ground Lease Agreement (Worldwide Wireless Inc)

Notice to Leasehold Mortgagee. Lessor agrees(i) Anything contained in this Lease to the contrary notwithstanding, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgagee, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of the happening of any contingency referred shall occur which entitles Lessor to in Section 13.01 hereofterminate this Lease, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee Lessor shall have the right, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its no right to terminate this Lease as unless, following the expiration of the period of time given Lessee to cure such default or the act or omission which gave rise to such default, Lessor shall notify every Leasehold Mortgagee of Lessor's intent to so terminate at least 30 days in advance of the proposed effective date of such termination if such default is capable of being cured by the payment of money, and at least 45 days in advance of the proposed effective date of such termination if such default is not capable of being cured by the payment of money. The provisions of subsection (g) below of this Section 13.01 provided without first affording to 19 shall apply if, during such 30- or 45-day termination notice period, any Leasehold Mortgagee shall: (1) notify Lessor of such Leasehold Mortgagee's desire to nullify such notice, and (2) pay or cause to be paid all rent, additional rent, and other payments then due and in arrears as specified in the same rights Termination Notice to such Leasehold Mortgagee and which may become due during such 30- or 45-day period, and (3) comply or in good faith, with reasonable diligence and continuity, commence to comply with all nonmonetary requirements of this Lease then in default and reasonably susceptible of being complied with by such Leasehold Mortgagee; provided, however, that such Leasehold Mortgagee shall not be required during such 45-day period to cure or commence to cure any default consisting of Lessee's failure to satisfy and discharge any lien, charge or other encumbrance against the same notices with respect Lessee's interest in this Lease or the Leased Premises junior in priority to the lien of the Leasehold Mortgage held by such Leasehold Mortgagee. (ii) Any notice to be given by Lessor to a Leasehold Mortgagee pursuant to any such default or contingency and the same period or periods provision of time within which this Section 19 shall be deemed properly addressed if sent to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also who served the notice referred to do, as are afforded in subsection (b)(i)(l) unless notice of a change of Leasehold Mortgage ownership has been given to Lessee hereunder Lessor pursuant to subsection (and a period of thirty (30) days thereafter, and as are afforded to the leasehold mortgagee under this Section 13.08b)(i)(2).

Appears in 1 contract

Samples: Lease (Ramsay Health Care Inc)

Notice to Leasehold Mortgagee. Lessor agreesAnything contained in this Lease to ----------------------------- the contrary notwithstanding, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of any default shall occur which entitles Landlord to terminate this Lease while there exists a Leasehold MortgageeMortgage, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of the happening of any contingency referred to in Section 13.01 hereof, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee Landlord shall have the right, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its no right to terminate this Lease as unless, following the expiration of the period of time given Tenant to cure such default or the act or omission which gave rise to such default, Landlord shall notify the Leasehold Mortgagee of Landlord's intent to so terminate this Lease ("Termination Notice") at least 20 days in Section 13.01 provided without first affording to advance of the proposed effective date of such termination if such default is capable of being cured by the payment of money, and at least 30 days in advance of the proposed effective date of such termination if such default is not capable of being cured by the payment of money. The provisions of paragraph (g) below of this paragraph 35 shall apply if, during such 20 or 30 day Termination Notice period, any Leasehold Mortgagee shall: (i) notify Landlord of such Leasehold Mortgagee's desire to nullify such notice, and (ii) pay or cause to be paid all rent, additional rent, and other payments then due and in arrears as specified in the same rights Termination Notice to such Leasehold Mortgagee and the same notices which may become due during such 20 or 30-day period, and (iii) comply or, in good faith, with respect reasonable diligence and continuity, commence to any comply with all nonmonetary requirements of this Lease then in default and reasonably susceptible of being complied with by such default or contingency and the same Leasehold Mortgagee; provided, however, that such Leasehold Mortgagee shall not be required during such 30-day period or periods of time within which to cure or commence to cure any default consisting of Tenant's failure to satisfy and discharge any lien, charge or encumbrance against the same, including Tenant's interest in this Lease or the right Premises junior in priority to enter into possession the lien of the Leased Premises, to enable the Leasehold Mortgagee also to do, as are afforded to Lessee hereunder (and a period of thirty (30) days thereafter, and as are afforded to the leasehold mortgagee under this Section 13.08)Mortgage held by such Leasehold Mortgagee.

Appears in 1 contract

Samples: Lease Agreement (Megabios Corp)

Notice to Leasehold Mortgagee. Lessor agrees(1) Anything contained in this Lease to the contrary notwithstanding, if any default shall occur which entitles Owner and/or Landlord to terminate this Lease Landlord may not terminate this Lease unless, following the expiration of the period of time given Tenant to cure such default, Landlord shall notify every Leasehold Mortgagee of Landlord’s intent to so terminate at least fifteen (15) days in advance of the proposed effective date of such termination if such advance of the proposed effective date of such default is capable of being cured by the payment of money, and so long as at least thirty (30) days in advance of the leasehold estate proposed effective date of Lessee such termination if such default is encumbered not capable of being cured by a leasehold mortgage in favor the payment of a money. The provisions of subsection (H) of this Section 4.1 shall apply if, during such 15- of 30-day termination notice period, any Leasehold Mortgagee shall: (a) notify Landlord of such Leasehold Mortgagee’s desire to nullify such notice; and (b) pay or cause to be paid all Rent, Additional Rent, and other payments then due and in arrears as specified in the termination notice to give such Leasehold Mortgagee at and which may become due during such address 15- or addresses as may 30-day period; and (c) comply or in good faith, with reasonable due diligence and continuity, commence to comply with all nonmonetary requirements of this Lease then in default and reasonably susceptible of being complied with by such Leasehold Mortgagee. (2) Any notice to be specified given by Owner and/or Landlord to a Leasehold Mortgagee pursuant to any provision of this Article 4 shall be deemed properly addressed if sent to the Leasehold Mortgagee to Lessor in writing, written who served the notice of any default or of the happening of any contingency referred to in subsection (B) (1)(a) of this Section 13.01 hereof, simultaneously with the giving 4.1 unless notice of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have a change of Leasehold Mortgage ownership has been given to Lessee hereunder unless Landlord pursuant to subsection (B)(1)(b) of this Section 4.1. (3) At any time after the delivery of the aforementioned notice under Subsection 4.1(F)(l)(a), such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee may notify Landlord, in writing (the “Discontinuance Notice”), that it has relinquished possession of the Premises or that it will not institute foreclosure proceedings or, if such proceedings shall have been commenced, that it has discontinued (or is in the rightprocess of discontinuing) such foreclosure proceedings. In such event, within Landlord shall, after the period limited by any such notice and for an additional period expiration of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention after Landlord gives copies of the parties hereto that Lessor shall not exercise Discontinuance Notice to all other Leasehold Mortgagees and of Landlord’s unrestricted right to declare any Event of Default and of its right intent to terminate this Lease, terminate this Lease as in Section 13.01 provided without first affording to and/or take any Leasehold Mortgagee the same rights and the same notices with respect to other action it deems appropriate by reason of any Event of Default unless within such default or contingency and the same period or periods of time within which to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also to do, as are afforded to Lessee hereunder (and a period of thirty (30) days thereafterday period, and as are afforded another Leasehold Mortgagee delivers to Landlord its written agreement to take the leasehold mortgagee under actions described in Clauses (a) through (c) of this Section 13.084. (F), in which case the provisions of this Section 4.1 shall remain applicable.

Appears in 1 contract

Samples: Lease Agreement (Terawulf Inc.)

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Notice to Leasehold Mortgagee. Lessor agrees‌ 7.6.1. Anything contained in this Lease to the contrary notwithstanding, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgagee, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of the happening of any contingency referred shall occur which entitles Landlord to in Section 13.01 hereofterminate this Lease, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee Landlord shall have the right, within the period limited by any such notice and for an additional period no right to terminate this Lease unless Landlord shall notify each Senior Recognized Lender in writing (of which Landlord has been notified pursuant to Section 7.2.1 above) of Landlord’s intent to so terminate this Lease (a “Default Notice”) at least thirty (30) days thereafterin advance of the proposed effective date of such termination (which shall not be earlier than the date of expiration of all notice and cure periods that Tenant may have to cure such default), if such default is capable of being cured by the payment of money, and to at least forty-five (45) days in advance of the same extent and with the same effect proposed effective date of such termination (as though done by Lessee, to take such action or to make such payment as time period may be necessary or appropriate to cure any extended as set forth below), if such default or contingency so specifiedis not capable of being cured by the payment of money. The provisions of Section 7.7 below shall apply if, it being the intention of the parties hereto that Lessor shall not exercise its right to terminate this Lease as in Section 13.01 provided without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any during such default or contingency and the same period or periods of time within which to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also to do, as are afforded to Lessee hereunder (and a period of thirty (30) days thereafteror forty-five (45) day period (each such period a “Termination Notice Period”), any Senior Recognized Lender shall: (a) Notify Landlord of such Senior Recognized Lender’s desire to nullify such notice; (b) Pay or cause to be paid all past due Base Rent, all past due additional rent, if any, all other past due monetary obligations then due and in arrears, and all Base Rent, additional rent and other monetary obligations as are afforded specified in the Termination Notice to such Senior Recognized Lender and which may become due during such thirty (30) period; and (c) Comply with all non-monetary requirements of this Lease then in default and, as determined by Landlord, reasonably susceptible of being complied with by such Senior Recognized Lender (provided that the lack of funds, or the failure or refusal to spend funds, shall not be an excuse for a failure to cure), and proceed to comply with reasonable diligence and continuity with such requirements reasonably susceptible of being complied with by such Senior Recognized Lender within the notice period, provided, however,‌ (i) that if the curing of such default reasonably requires activity over a longer period of time, the initial cure period shall be extended for such additional time as may be reasonably necessary to cure such default, so long as the Senior Recognized Lender commences a cure within the initial cure period and thereafter continues to use due diligence to perform whatever acts may be required to cure the particular default. In the event Tenant commences to cure the default within Tenant’s applicable cure period and thereafter fails or ceases to pursue the cure with due diligence, the Senior Recognized Lender’s initial cure period shall commence upon the later of the end of Tenant’s cure period or the date upon which Landlord notifies the Senior Recognized Lender that Tenant has failed or ceased to cure the default with due diligence; and, (ii) provided, further, that such Senior Recognized Lender shall not be required during such forty-five (45) day period (as it may be extended pursuant to the leasehold mortgagee under terms hereof) to cure or commence to cure any default consisting of Tenant’s failure to satisfy and discharge any lien, charge or encumbrance against the Tenant’s interest in this Lease or the Property junior in priority to the lien of the Senior Recognized Lender held by such Senior Recognized Lender. (d) Any notice to be given by Landlord to a Senior Recognized Lender pursuant to any provision of this Section 13.08)7 shall be deemed properly addressed if sent to the Senior Recognized Lender who served the notice referred to in Section 7.2.1 above, unless notified of a change of Senior Recognized Lender ownership has been given to Landlord pursuant to Section 7.2.1 above. Such notices, demands and requests shall be given in the manner described in Section 19 below and shall in all respects be governed by the provisions of that Section.

Appears in 1 contract

Samples: Ground Lease Agreement

Notice to Leasehold Mortgagee. Lessor agrees(a) Anything contained in this Lease to the contrary notwithstanding, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgageeany default shall occur which entitles Landlord to terminate this Lease, Landlord shall have no right to give such terminate this Lease unless Landlord shall notify every Recognized Leasehold Mortgagee (a “Termination Notice”), of Landlord’s intent to so terminate at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of the happening of any contingency referred to in Section 13.01 hereof, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee shall have the right, within the period limited by any such notice and for an additional period of least thirty (30) days thereafterin advance of the proposed effective date of such termination, if such default is capable of being cured by the payment of money, and to at least forty-five (45) days in advance of the same extent and with the same effect as though done by Lesseeproposed effective date of such termination, to take such action or to make such payment as may be necessary or appropriate to cure any if such default or contingency so specifiedis not capable of being cured by the payment of money. The provisions of Section 1.7 below shall apply if, it being the intention of the parties hereto that Lessor shall not exercise its right to terminate this Lease as in Section 13.01 provided without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any during such default or contingency and the same period or periods of time within which to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also to do, as are afforded to Lessee hereunder (and a period of thirty (30) days thereafteror forty-five (45) day Termination Notice Period, any Leasehold Mortgagee shall: (i) Notify Landlord of such Leasehold Mortgagee’s desire to nullify such notice; (ii) Pay or cause to be paid the Rent, additional rent, if any, and other monetary obligations then due and in arrears as are afforded specified in the Termination Notice to such Leasehold Mortgagee and which may become due during such thirty (30) or forty-five (45) day period; and (iii) Comply with all non-monetary requirements of this Lease then in default and, as determined by Landlord, reasonably susceptible of being complied with by such Leasehold Mortgagee (provided that the lack of funds, or the failure or refusal to spend funds, shall not be an excuse for a failure to cure), and proceed to comply with reasonable diligence and continuity with such requirements reasonably susceptible of being complied with by such Leasehold Mortgagee within the notice period, provided, however, that such Leasehold Mortgagee shall not be required during such forty-five (45) day period to cure or commence to cure any default consisting of Tenant’s failure to satisfy and discharge any lien, charge or encumbrance against the Tenant’s interest in this Lease or the Premises junior in priority to the leasehold mortgagee under lien of the Leasehold Mortgage held by such Leasehold Mortgagee. (b) Any notice to be given by Landlord to a Leasehold Mortgagee pursuant to any provision of this Addendum 6 shall be deemed properly addressed if sent to the Leasehold Mortgagee who served the notice referred to in Section 13.08)1.2(a) above, unless notified of a change of Senior Leasehold Mortgagee ownership has been given to Landlord pursuant to Section 1.2(a) above. Such notices, demands and requests shall be given in the manner described in Section 1.7 of Addendum 5 and shall in all respects be governed by the provisions of that Section.

Appears in 1 contract

Samples: Ground Lease Agreement

Notice to Leasehold Mortgagee. Lessor agrees, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgagee, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of the happening of any contingency referred to in Section 13.01 hereofthis Article XIII, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee shall have the right, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or of contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its right to terminate this Lease as provided in Section 13.01 provided this paragraph without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any such default or contingency and the same period or of periods of time within which to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also to do, do as are afforded to Lessee hereunder (and a period of thirty (30) days thereafter, and as are afforded to the leasehold mortgagee under this Section 13.08Article XIII).

Appears in 1 contract

Samples: Building Lease Agreement (FFP Marketing Co Inc)

Notice to Leasehold Mortgagee. Lessor agreesAnything contained in this Lease to the ----------------------------- contrary notwithstanding, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of any default shall occur which entitles Landlord to terminate this Lease while there exists a Leasehold MortgageeMortgage, Landlord shall have no right to give terminate this Lease unless, following the expiration of the period of time given Tenant to cure such Leasehold Mortgagee at default or the act or omission which gave rise to such address or addresses as may be specified by default, Landlord shall notify the Leasehold Mortgagee of Landlord's intent to Lessor so terminate this Lease ("Termination Notice") at least fifteen (15) days in writing, written notice of any default or advance of the happening of any contingency referred to in Section 13.01 hereof, simultaneously with the giving proposed effective date of such notice to Lesseetermination if such default is capable of being cured by the payment of money, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee shall have the right, within the period limited by any such notice and for an additional period of at least thirty (30) days thereafter, and to in advance of the same extent and with the same effect as though done by Lessee, to take proposed effective date of such action or to make such payment as may be necessary or appropriate to cure any termination if such default is not capable of being cured by the payment of money. The provisions of paragraph (g) below of this Schedule shall apply if, during such 15- or contingency so specified30-day Termination Notice period, it being the intention of the parties hereto that Lessor shall not exercise its right to terminate this Lease as in Section 13.01 provided without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any such default or contingency and the same period or periods of time within which to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also shall: (i) notify Landlord of such Leasehold Mortgagee's desire to donullify such notice, as are afforded and (ii) pay or cause to Lessee hereunder (and a period of thirty (30) days thereafterbe paid all Base Rent, additional rent, and other payments then due and in arrears as are afforded specified in the Termination Notice to the leasehold mortgagee under such Leasehold Mortgagee and which may become due during such 15 or 30-day period, and (iii) comply or, in good faith, with reasonable diligence and continuity, commence to comply with all non-monetary requirements of this Section 13.08)Lease then in default and susceptible of being complied with by such Leasehold Mortgagee.

Appears in 1 contract

Samples: Office Lease (Megabios Corp)

Notice to Leasehold Mortgagee. At any time after the execution and recordation of any Leasehold Mortgage, the Leasehold Mortgagee may notify Lessor agreesin writing that any such mortgage or deed of trust has been given and executed by Lessee, if and so long as shall at the leasehold estate same time furnish Lessor with a copy of Lessee is encumbered by a leasehold mortgage in favor the Leasehold Mortgage, together with the address to which it desires copies of a notices of default to be mailed. Lessor hereby agrees that it will thereafter mail to the Leasehold Mortgagee, at the address so given, duplicate copies of any and all notices of default in writing which Lessor may from time to time give or serve upon (or be required to give such Leasehold Mortgagee at such address or addresses as may be specified by serve upon) Lessee under and pursuant to the Leasehold Mortgagee to Lessor in writing, written notice terms and provisions of any default or of the happening of any contingency referred to in Section 13.01 hereof, this Lease simultaneously with the giving of such notice to Lesseetherewith, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; . Until such time as Lessor shall have received written notice of a Leasehold Mortgage and the address to which the Leasehold Mortgagee shall have the rightthereunder desires copies of notices of default to be mailed, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its right be under no obligation to terminate this Lease as in Section 13.01 provided without first affording provide copies of notices of default to any a Leasehold Mortgagee the same rights and the same notices with respect to any such default or contingency and the same period or periods of time within which to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also to do, as are afforded to Lessee hereunder (and a period of thirty (30) days thereafter, and as are afforded to the leasehold mortgagee under this Section 13.08)Mortgagee.

Appears in 1 contract

Samples: Lease Agreement (Nova Biosource Fuels, Inc.)

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