Common use of Procedure on Default Clause in Contracts

Procedure on Default. If Landlord shall elect to terminate the Lease by reason of any Event of Default that has occurred and is continuing, and Administrative Agent shall have proceeded in the manner provided for by Section 3 hereof, the specified date for the termination of the Lease as fixed by Landlord in its Termination Notice shall be extended for a period of six (6) months; provided that Administrative Agent shall, during such six-month period (i) pay or cause to be paid the Rent, Additional Charges and other monetary obligations of Tenant under the Lease as the same become due, and continue its good faith efforts to perform or cause to be performed all of Tenant’s other obligations under the Lease, excepting past nonmonetary obligations then in default and not reasonably susceptible of being cured by Administrative Agent and (ii) if not enjoined or stayed pursuant to a bankruptcy or insolvency proceeding or other judicial order, commence and diligently pursue its remedies against Windstream Services and/or its affiliates under the Credit Agreement and the other documents executed in connection therewith and diligently prosecute the same to completion. Nothing in this Section 4, however, shall be construed to extend the Lease beyond the original term thereof as extended by any options to extend the term of the Lease properly exercised by Tenant in accordance with Section 1.4 of the Lease. If the Event of Default shall be cured pursuant to the terms and within the time periods allowed in Section 3 hereof and this Section 4, the Lease shall continue in full force and effect as if Tenant had not defaulted under the Lease.

Procedure on Default. (i) If Landlord shall elect to terminate the this Lease by reason of any Event default of Default that has occurred and is continuingTenant, and Administrative Agent Leasehold Mortgagee shall have proceeded in the manner provided for by Section 3 hereofsubparagraph 16.5.2, the specified date for the termination of the this Lease as fixed by Landlord in its Termination Notice shall be extended for a period of six (6) months; , provided that Administrative Agent such Leasehold Mortgagee shall, during such this six-month period period: (iA) pay Pay or cause to be paid paid, the Rentrent, Additional Charges additional rent, and other monetary obligations of Tenant under the this Lease that have become due and as the same become due, and continue its good faith efforts to perform or cause to be performed all of Tenant’s other obligations under the this Lease, excepting (1) obligations of Tenant to satisfy or otherwise discharge any lien, charge, or encumbrance against Tenant’s interest in this Lease or the Land, Buildings and/or Improvements junior in priority to the lien of the mortgage held by Leasehold Mortgagee and (2) past nonmonetary obligations then in default and not reasonably susceptible of being expected to be cured by Administrative Agent Leasehold Mortgagee; and (iiB) if not enjoined Take steps to acquire or stayed pursuant to a bankruptcy or insolvency proceeding sell Tenant’s interest in this Lease by foreclosure of the Leasehold Mortgage or other judicial order, commence appropriate means and diligently pursue its remedies against Windstream Services and/or its affiliates under the Credit Agreement and the other documents executed in connection therewith and diligently prosecute the same to completion. Nothing in this Section 4, however, shall be construed to extend the Lease beyond the original term thereof as extended by any options to extend the term of the Lease properly exercised by Tenant in accordance completion with Section 1.4 of the Lease. If the Event of Default shall be cured pursuant to the terms and within the time periods allowed in Section 3 hereof and this Section 4, the Lease shall continue in full force and effect as if Tenant had not defaulted under the Leasedue diligence.