Common use of Notices to Mortgagee Clause in Contracts

Notices to Mortgagee. Lessor shall, upon serving Lessee with any notice of default, simultaneously serve a copy of such notice upon the holder of the leasehold mortgage. The leasehold mortgagee shall have the same period, after service of such notice upon it, to remedy or cause to be remedied the defaults complained of, and Lessor shall accept such leasehold mortgagee’s acts if they had been performed by Xxxxxx. In the event Lessor desires to terminate this Agreement as a result of a default, Lessor shall provide the leasehold mortgagee with written notice (the “Termination Notice”) of its intent to terminate this Agreement. If Lessor desires to terminate this Agreement a result of a monetary default, Lessor shall grant the leasehold mortgagee the right to cure or undertake the elimination of such default within thirty

Notices to Mortgagee. Lessor shall, upon serving Lessee with any notice of default, simultaneously serve a copy of such notice upon the holder of the leasehold mortgage. The leasehold mortgagee shall have the same period, after service of such notice upon it, to remedy or cause to be remedied the defaults complained of, and Lessor shall accept such leasehold mortgagee’s acts if they had been performed by XxxxxxLessee. In the event Lessor desires to terminate this Agreement as a result of a default, Lessor shall provide the leasehold mortgagee with written notice (the “Termination Notice”) of its intent to terminate this Agreement. If Lessor desires to terminate this Agreement a result of a monetary default, Lessor shall grant the leasehold mortgagee the right to cure or undertake the elimination of such default within thirty