Notice to Tenant; Grace Period. Anything contained in the provisions of this Paragraph to the contrary, notwithstanding, upon the occurrence of an Event of Default Tenant shall not be deemed to be in default, and Landlord shall not exercise any right or remedy which it holds under any provision of this Lease or under applicable law unless and until;
(i) Landlord has given written notice thereof to Tenant, and
(ii) Tenant has failed, (I) if such Event of Default consists of the failure to pay money, within five (5) calendar days after the date Landlord presents notice to pay all of such money, together with interest thereon and any late payment charge which may be due hereunder of five per cent (5%) levied on all monies due to Landlord as of the Notice of Default in accordance with Paragraph 3(g), or (2) if such Event of Default consists of something other than the failure to pay money, within fifteen (15) business days thereafter to commence actively, diligently and in good faith to proceed to cure such Event of Default and to continue to do so until it is fully cured; provided however, if Tenant commences to cure such default during such fifteen (15) day period, and such default cannot be cured within such period despite diligent effort, Tenant shall be afforded such additional time as may reasonably required to affect a cure provided that Tenant continues to diligently pursue such cure.
(iii) No such notice shall be required, and Tenant shall be entitled to no such grace period, more than twice with respect to monetary default during each twelve (12) month period of the Term, or (2) if Tenant has substantially terminated or is in the process of substantially terminating its continuous occupancy and use of the Premises for the purpose set forth in the provisions of Paragraph 5, or (3) if any Event of Default enumerated in the provisions of Paragraphs, 17(a)(ii) or 17(a)(iii) has occurred.
Notice to Tenant; Grace Period. Anything contained in the provisions of this Section to the contrary notwithstanding and subject to Section 3.4. of this Lease, on the occurrence of an Event of Default the Landlord shall not exercise any right or remedy on account thereof which it holds under any provision of this Lease or applicable law unless and until
11.2.1. the Landlord has given written notice thereof to the Tenant, and
11.2.2. the Tenant has failed, (a) if such Event of Default consists of a failure to pay money, within fifteen (15) days after the Landlord gives such written notice to pay all of such money, or (b) if such Event of Default consists of something other than a failure to pay money, within thirty (30) days after the Landlord gives such written notice to cure such Event of Default (or, if such Event of Default is not reasonably curable within such period of thirty (30) days, to begin to cure such Event of Default within such thirty (30) day period and to diligently pursue such cure thereafter until it is fully cured).
11.2.3. Notwithstanding the foregoing, no such notice of default shall be required to be given, and (even if the Landlord gives such notice) the Tenant shall be entitled to no such grace period, (i) in any emergency situation in which, in the Landlord’s reasonable judgment, it is necessary for the Landlord to act to cure such Event of Default without giving such notice, or (ii) more than twice during any twelve (12) month period (regardless of whether the current Event of Default is the same as any previous Event of Default for which a notice was given).
Notice to Tenant; Grace Period. Anything contained in the provisions of this Section to the contrary notwithstanding, on the occurrence of an Event of Default the Landlord shall not exercise any right or remedy which it holds under any provision of this Lease or applicable law unless and until
Notice to Tenant; Grace Period. Anything contained in the provisions of this Section to the contrary notwithstanding, upon the occurrence of an Event of Default, the Landlord shall not exercise any right or remedy which it holds under any provision of this Lease or under applicable law unless and until
8.2.1. the Landlord has given written notice thereof to the Tenant, and
8.2.2. the Tenant has failed, (a) if such Event of Default consists of the failure to pay money, within ten (10) days thereafter to pay all of such money, or (b) if such Event of Default consists of something other than the failure to pay money, within thirty (30) days thereafter actively, diligently and in good faith to proceed to cure such Event of Default and to continue to do so until it is fully cured; provided, that
8.2.3. no such notice shall be required, and the Tenant shall be entitled to no such grace period, (a) more than twice during any twelve (12) month period, or (b) if any Event of Default enumerated in the provision of 8.1.2., 8.1.3. or 8.1.4. has occurred.
Notice to Tenant; Grace Period. Anything contained in the provisions of this Section to the contrary notwithstanding, on the occurrence of an Event of Default Landlord shall not exercise any right or remedy which it holds under any provision of this Lease or applicable law unless and until
15.2.1. Landlord has given written notice thereof to Tenant, and
15.2.2. Tenant has failed within five (5) days after its receipt of such notice to cure any default described in Section 15.1.1
(a) above default and thirty (30) days after its receipt of such notice to cure any other Event of Default described in Section 15.1.1(b) above; provided, that
15.2.3. No such notice shall be required, and Tenant shall be entitled to no such grace period, (a) in any emergency situation in which Landlord acts to cure an Event of Default or (b) in the case of any Event of Default enumerated in the provisions of subsections 15.1.2, 15.1.3 or 15.
Notice to Tenant; Grace Period. Anything contained in the provisions of this Section to the contrary notwithstanding, on the occurrence of an Event of Default, which does not involve a payment hereunder or contemplated hereby, Landlord shall not exercise any right or remedy which it holds under any provision of this Lease or under applicable law unless and until:
(a) Landlord has given written notice thereof to Tenant, and,
(b) Tenant has failed within twenty (20) days thereafter to cure such Event of Default (or, if and only if such Event of Default is not reasonably curable within such period of twenty (20) days, to proceed within such period actively, diligently and in good faith to cure such Event of Default and to continue to do so thereafter until it is fully cured); provided that no such notice shall be required, and Tenant shall be entitled to no such grace period, (i) more than twice during any twelve (12) month period, or (ii) if Tenant has substantially terminated or is in the process of substantially terminating its continuous occupancy and use of the Premises for the purpose set forth in section 3, or (iii) if any Event of Default enumerated in subsections 20.1(b), 20.1(c), or 20.1(e) has occurred.
Notice to Tenant; Grace Period. Anything contained in the provisions of this Section to the contrary notwithstanding, on the occurrence of an Event of Default the Landlord shall not exercise any right or remedy which it holds under any provision of this Lease or applicable law unless and until
13.2.1. the Landlord has given written notice thereof to the Tenant, (32) and
13.2.2. the Tenant has failed, (a) if such Event of Default consists of a failure to pay money, within five (5) days of the due date, or (b) if such Event of Default consists of something other than a failure to pay money, within thirty (30) days thereafter actively, diligently and in good faith to begin to cure such Event of Default and to continue thereafter to do so until it is fully cured; provided, that
13.2.3. no such notice shall be required, and the Tenant shall be entitled to no such grace period, (a) in an emergency situation in which the Landlord acts to cure such Event of Default pursuant to the provisions of paragraph 13.3.5; or (b) more than twice during any twelve (12) month period, or (c) if the Tenant has substantially terminated or is in the process of substantially terminating its continuous occupancy and use of the Premises for the purpose set forth in the provisions of Section 3, or (d) in the case of any Event of Default enumerated in the provisions of paragraphs 13.1.2, 13.1.3, 13.1.4 and 13.1.6.
Notice to Tenant; Grace Period. 36 Section 15.3. Landlord’s Rights on Event of Default. 37 Section 15.4. Landlord Event of Default 39 ARTICLE 16 ESTOPPEL CERTIFICATE; SHORT FORM 40 Section 16.1. Estoppel Certificate. 40 Section 16.2. Short Form. 41 Section 16.3. Estoppel Certificates (Permitted Leasehold Mortgagees). 41 ARTICLE 17 CONDITIONS OF TITLE AND PREMISES 41 Section 17.1. Limited Warranties. 41 Section 17.2. Quiet Enjoyment. 41 Section 17.3. Limitation on Liability 42 Section 17.4. Title to Personal Property 42 ARTICLE 18 NOTICES 42 ARTICLE 19 GENERAL 44 Section 19.1. Effectiveness. 44 Section 19.2. Complete Understanding 44 Section 19.3. Amendment. 44 Section 19.4. Waiver 44 Section 19.5. Applicable Law. 44 Section 19.6. Time of Essence 45 Section 19.7. Headings. 45 Section 19.8. Construction. 45 Section 19.10. Severability 45 Section 19.11. Disclaimer of Partnership Status. 45 Section 19.12. Commissions. 46 Section 19.13. Prevailing Party 46 Section 19.15. Subleases. 46 Section 19.16. New Lease 46 Section 19.17. Preservation of Lease 47 Section 19.18. Tenant’s Rights, Generally 47 Section 19.19. No Personal Liability.47 Section 19.20. Acknowledgment. 47 Section 19.21. Memorandum of Lease 47 ARTICLE 20 PURCHASE OPTION AND RIGHT OF FIRST REFUSAL 48 Section 20.1. 48 Section 20.2. 51 Section 20.3. 52 Section 20.4. 52 Section 20.5. 52 Section 20.6. 53 Section 20.7. 53
Notice to Tenant; Grace Period. Anything in this Section to the contrary notwithstanding, if a Default occurs Landlord shall not exercise any right or remedy on account thereof which it holds under this Lease or applicable law unless and until
Notice to Tenant; Grace Period. AGREEMENT OF LEASE THIS AGREEMENT OF LEASE (hereinafter referred to as "this Lease"), made this {@L day of August, 1997, by and between 22 Light Street, {LLC, a Limited Liability Company organized and existing under the law of Maryland having an address at 00 Xxxxx Xxxxxx (hereinafter referred to as "the Landlord"), and On-Site Sourcing, Inc., existing under the law of Delaware having a primary address at 0000 Xxxxx 00xx Xxxxxx Xxxxxxxxx VA(hereinafter referred to as "the Tenant"), {WITNESSETH, THAT FOR AND IN CONSIDERATION of the mutual entry into this Lease by the parties hereto, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by each party hereto, the Landlord hereby leases to the Tenant and the Tenant hereby leases from the Landlord all of that real property in Baltimore City, Maryland, which consists of the space containing approximately 5,079 rentable square feet of floor area shown outlined on a plat attached hereto as Exhibit A (hereinafter referred to as "the Premises") and located in a building (hereinafter referred to as "the Building") at 00 Xxxxx Xxxxxx in Baltimore, Maryland, on a tract of land (hereinafter referred to as "the Land") and any other buildings or improvements thereon being hereinafter referred to collectively as "the Property"), SUBJECT TO THE OPERATION AND EFFECT of any and all instruments and matters of record or in fact, UPON T14E TERMS AND SUBJECT TO THE CONDITIONS which are hereinafter set forth:
Section 1. Summary of Key Terms
a) Landlord: 00 Xxxxx Xxxxxx, LLC
b) Tenant: On-Site Sourcing, Inc.
c) Premises: Xxxxx 000 xx 00 Xxxxx Xxxxxx, containing approximately 5,079 rentable square feet
d) Term: 10 Years, 4 Months beginning on October 15, 1997
e) Base Rental Rate: $15.00 per rentable square foot
f) Rental Concession: Tenant will be responsible for rental payments during Year I based on 3,500 rentable square feet. Commencing on Year 2, Tenant will pay rental based on its square footage of 5,079 rentable square feet for the remainder of the lease term.
g) Tenant's Operating Costs Percentage: II. I%
h) Annual Base Rental Increase: 3% annual increase
i) Tenant Improvement: Landlord will build out space as stipulated in Section 9.1 and Exhibit A.
j) Security Deposit: I month rent equalling $6,348.75
