Common use of Procedure on Default Clause in Contracts

Procedure on Default. (i) If Landlord shall elect to terminate this Master Lease by reason of any Event of Default of Tenant that has occurred and is continuing, and a Permitted Leasehold Mortgagee shall have proceeded in the manner provided for by subsection (d) of this Section 17.1, the specified date for the termination of this Master Lease as fixed by Landlord in its Termination Notice shall be extended for a period of six (6) months; provided that such Permitted Leasehold Mortgagee shall, during such six- month period (and during the period of any continuance referred to in subsection (e)(ii) below): (1) pay or cause to be paid the Rent, Additional Charges and other monetary obligations of Tenant under this Master 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 this Master Lease, excepting (A) obligations of Tenant to satisfy or otherwise discharge any lien, charge or encumbrance against Xxxxxx’s interest in this Master Lease or the Leased Property or any of Tenant’s other assets junior in priority to the lien of the 64 ACTIVE/103726432.5 US-DOCS\116344257.8

Procedure on Default. (i) If Landlord shall elect to terminate this Master Lease by reason of any Event of Default of Tenant that has occurred and is continuing, and a Permitted Leasehold Mortgagee shall have proceeded in the manner provided for by subsection (d) of this Section 17.1, the specified date for the termination of this Master Lease as fixed by Landlord in its Termination Notice shall be extended for a period of six (6) months; provided that such Permitted Leasehold Mortgagee shall, during such six- six-month period (and during the period of any continuance referred to in subsection (e)(ii) below): ): (1) pay or cause to be paid the Rent, Additional Charges and other monetary obligations of Tenant under this Master 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 this Master Lease, excepting (A) obligations of Tenant to satisfy or otherwise discharge any lien, charge or encumbrance against XxxxxxTenant’s interest in this Master Lease or the Leased Property or any of Tenant’s other assets junior in priority to the lien of the 64 ACTIVE/103726432.5 US-DOCS\116344257.8mortgage or other security documents held by such Permitted Leasehold Mortgagee and