Right of Lessor to Perform Lessee's Covenants Sample Clauses

Right of Lessor to Perform Lessee's Covenants. If at any time, and so often as the same shall happen, the Lessee shall make default in the observance or performance of any covenant contained herein on its part to be observed or performed and has not cured such default following written notice thereof pursuant to Section 11.1 hereof, then the Lessor may, but shall not be obligated so to do, without waiving or releasing the Lessee from its obligations under this Lease, itself observe and perform the covenant or covenants in respect of which the Lessee has made default or make payment of the monies the Lessee has failed to pay; and all costs and expenses incurred by the Lessor in the observance or performance of such covenant or covenants including without limitation reasonable legal costs as between solicitor and own client and any moneys so paid by the Lessor will, with interest thereon from the date of the incurring of such costs or expenses or payments of monies, at a rate equal to 3% per annum above the prevailing prime commercial lending rate then being published by any Canadian chartered bank designated by the Lessor, shall be a charge on the Demised Premises in favour of the Lessor in priority to the interest of the Lessee hereunder and of any person claiming through or under the Lessee, and all such costs, expenses and monies and interest thereon shall be payable by the Lessee to the Lessor forthwith on demand as Additional Rent. The Lessor shall have the same rights and remedies and may take the same steps for recovery thereof as for the recovery of Rent in arrears.

Right of Lessor to Perform Lessee's Covenants. Lessor shall have the right at any time, after thirty (30) days written notice to Lessee (or without notice in case of an emergency or in case any fine, penalty, interest or cost may otherwise be imposed), to make any payment or perform any act required by Lessee under any provision of this Lease, and in exercising such right, to incur necessary and incidental costs and expense. Nothing herein shall imply any obligation on the part of Lessor to make any payment or perform any act required of the Lessee, and the exercise of the right to do so shall not constitute a Lease of any obligation or a waiver of any default. All payments made and all costs and expenses incurred in connection with any exercise of such right shall be reimbursed by the Lessee within thirty (30) days after such payment together with interest at two points over the Prime Lending Rate as stated in The Wall Street Journal from the respective date of the making of such payment or the incurring of such costs and expense. In addition to any other rights and remedies available to Lessor, Lessor shall have, in respect of Lessee's failure to make reimbursement of any amount as aforesaid, the same rights and remedies as in the case of a default by Lessee in the payment of rent.