Common use of Right to Cure Default Clause in Contracts

Right to Cure Default. Except as may be provided elsewhere in this lease agreement, should Landlord default in the performance of any of its obligations under this lease, Tenant agrees that, prior to cancelling this lease or withholding any rent hereunder or making any payments against rent due hereunder (except for emergency repairs), the Tenant shall give the Landlord and Landlord's first mortgagee (provided the Tenant has been notified of the name and address of same) not less than thirty (30) days' written notice setting forth the default giving rise to such right, sent by certified mail. In the event Landlord and/or Landlord's first mortgagee, as the case may be, within such thirty (30) day period, (a) commences to cure the default which is the subject of such notice and either cures such default within said thirty (30) day period, or, if such default cannot be reasonably cured within thirty (30) days, commences to cure such default and prosecutes such cure diligently through to the completion thereof or (b) commences foreclosure proceedings and prosecutes such foreclosure proceedings diligently through to completion thereof, the Tenant shall not have the right to cancel this lease, withhold any rents hereunder or claim any offset against rent due hereunder. The foregoing conditions precedent to Tenant's making payments and/or withholding or offsetting rent shall not apply in any instance where Tenant expends monies in the reasonable belief that such expenditure is necessary to protect the premises or its possession or right to possession of the premises. EMINENT DOMAIN

Right to Cure Default. Except as may be provided elsewhere in this lease agreement, should Landlord a. If Tenant shall default in the performance of with respect to any of its Tenant's obligations under this leasehereunder, if Landlord shall have given to Tenant agrees thatnotice as required herein, prior to cancelling this lease or withholding any rent hereunder or making any payments against rent due hereunder (except for emergency repairs), the Tenant shall give the Landlord and Landlord's first mortgagee (provided the Tenant has been notified of the name and address of same) not less than if after thirty (30) days' written notice setting forth the default giving rise to such right, sent by certified mail. In the event Landlord and/or Landlord's first mortgagee, as the case may be, within such thirty (30) day period, (a) commences days in which to cure the said default which is the subject of Tenant shall not have cured such notice and either cures such default within said thirty (30) day perioddefault, orLandlord may, if such default cannot be reasonably cured within thirty (30) daysbut need not, commences attempt to cure such default and prosecutes the reasonable, actual net costs and expenses incurred or paid by Landlord in so doing shall be deemed to be additional rent hereunder and shall be payable by Tenant to Landlord within ten (10) days after notice by Landlord to Tenant making demand therefor. b. If Landlord shall default with respect to any of Landlord's obligations hereunder and if Tenant shall have given to Landlord notice as required hereunder and thirty (30) days in which to cure, and if after the expiration of such cure diligently through to period, if any, as may be provided herein for the completion thereof or (b) commences foreclosure proceedings and prosecutes curing of such foreclosure proceedings diligently through to completion thereof, the Tenant default Landlord shall not have cured such default, Tenant may but need not attempt to cure such default and the right reasonable, actual net costs and expenses incurred or paid by Tenant in so doing shall be payable by Landlord to cancel this lease, withhold any rents hereunder Tenant within ten (10) days after notice by Tenant to Landlord making demand therefor or claim any offset against rent due hereunder. The foregoing conditions precedent to at Tenant's making payments and/or withholding option shall be deductible by Tenant from the rent payable hereunder. c. The rights and remedies afforded to Landlord and to Tenant under paragraphs a and b, respectively, of this Section 22, as well as those elsewhere provided herein or offsetting rent by law shall be cumulative and shall not apply be deemed exclusive of any other right or remedy provided herein or by law. d. In the event that either Landlord or Tenant shall bring any action or proceeding, whether at law or in equity or in arbitration or otherwise, claiming a failure or default on the part of the other to perform any instance where Tenant expends monies covenant or agreement contained in this Lease, the party who shall not prevail in such action or proceeding shall pay to the party who shall prevail therein the reasonable belief that attorneys' fees and/or expenses incurred by the prevailing party and the amount thereof may be recovered, by counterclaim or otherwise, in such expenditure is necessary to protect action or proceeding. e. Irrespective of any default by Landlord or Tenant, Tenant may exercise the premises or its possession or right to possession of the premises. EMINENT DOMAINoption granted by Section 8 hereof at any time.

Right to Cure Default. Except as may be provided elsewhere in this lease agreement, should Landlord If default in the performance of any of its obligations under this lease, Tenant agrees that, prior to cancelling this lease or withholding any rent hereunder or making any payments against rent due hereunder (except for emergency repairs)the covenants of the Mortgagor herein occurs, the Tenant shall give the Landlord and Landlord's first mortgagee (provided the Tenant has been notified Collateral Agent, on behalf of the name Mortgagee, may, at its discretion, remedy the same and address of same) not less than thirty (30) days' written notice setting forth the default giving rise to for such right, sent by certified mail. In the event Landlord and/or Landlord's first mortgagee, as the case may be, within such thirty (30) day period, (a) commences to cure the default which is the subject of such notice and either cures such default within said thirty (30) day period, or, if such default cannot be reasonably cured within thirty (30) days, commences to cure such default and prosecutes such cure diligently through to the completion thereof or (b) commences foreclosure proceedings and prosecutes such foreclosure proceedings diligently through to completion thereof, the Tenant purpose shall not have the right to cancel this leaseenter upon the Mortgaged Property or any portion thereof without thereby becoming liable to the Mortgagor or any person in possession thereof holding under the Mortgagor. If Collateral Agent shall remedy such a default or appear in, withhold defend, or bring any rents hereunder action or claim any offset against rent due hereunder. The foregoing conditions precedent proceeding to Tenant's making payments and/or withholding or offsetting rent shall not apply in any instance where Tenant expends monies protect its interest in the Mortgaged Property or to foreclose this Mortgage or collect the Debt, the costs and expenses thereof (including reasonable belief attorneys' fees to the extent permitted by law), with interest as provided in this paragraph, shall be paid by the Mortgagor to the Collateral Agent upon demand. All such costs and expenses incurred by the Collateral Agent in remedying such default or in appearing in, defending, or bringing any such action or proceeding shall be paid by the Mortgagor to the Collateral Agent upon demand, with interest (calculated for the actual number of days elapsed between the incurrence thereof and Mortgagor's reimbursement thereof on the basis of a 360-day year) at a rate per annum equal to 5% plus the rate of cash interest provided in the Notes (herein referred to as the "DEFAULT RATE"), provided, however, that the Default Rate shall in no event exceed the maximum interest rate which the Mortgagor may by law pay, for the period after notice from the Collateral Agent that such expenditure is necessary costs or expenses were incurred to protect the premises or its possession or right date of payment to possession the Collateral Agent. To the extent any of the premises. EMINENT DOMAINaforementioned costs or expenses paid by the Collateral Agent after default by the Mortgagor shall constitute payment of (i) taxes, charges or assessments which may be imposed by law upon the Mortgaged Property, (ii) premiums on insurance policies covering the Mortgaged Property, (iii) expenses incurred in upholding the lien of this Mortgage, including, but not limited to, the costs and expenses of any litigation to collect the indebtedness secured by this Mortgage or to prosecute, defend, protect or preserve the rights and the lien created by this Mortgage, or (iv) any amount, cost or charge to which the Mortgagee becomes subrogated, upon payment, whether under recognized principles of law or equity, or under express statutory authority; then, and in each such event, such costs, expenses and amounts, together with interest thereon at the Default Rate, shall be added to the indebtedness secured by this Mortgage and shall be secured by this Mortgage.

Right to Cure Default. Except as may be provided elsewhere in this lease agreement, should Landlord If default in the performance of any of its obligations under this lease, Tenant agrees that, prior to cancelling this lease or withholding any rent hereunder or making any payments against rent due hereunder (except for emergency repairs)the --------------------- covenants of the Mortgagor herein occurs, the Tenant Mortgagee may, at its discretion, remedy the same and for such purpose shall give the Landlord and Landlord's first mortgagee (provided the Tenant has been notified of the name and address of same) not less than thirty (30) days' written notice setting forth the default giving rise to such right, sent by certified mail. In the event Landlord and/or Landlord's first mortgagee, as the case may be, within such thirty (30) day period, (a) commences to cure the default which is the subject of such notice and either cures such default within said thirty (30) day period, or, if such default cannot be reasonably cured within thirty (30) days, commences to cure such default and prosecutes such cure diligently through to the completion thereof or (b) commences foreclosure proceedings and prosecutes such foreclosure proceedings diligently through to completion thereof, the Tenant shall not have the right to cancel this leaseenter upon the Mortgaged Property or any portion thereof without thereby becoming liable to the Mortgagor or any person in possession thereof holding under the Mortgagor. If Mortgagee shall remedy such a default or appear in, withhold defend, or bring any rents hereunder action or claim any offset against rent due hereunder. The foregoing conditions precedent proceeding to Tenant's making payments and/or withholding or offsetting rent shall not apply in any instance where Tenant expends monies protect its interest in the Mortgaged Property or to foreclose this Mortgage or collect the Debt, the costs and expenses thereof (including reasonable belief attorneys' fees to the extent permitted by law), with interest as provided in this paragraph, shall be paid by the Mortgagor to the Mortgagee upon demand. All such costs and expenses incurred by the Mortgagee in remedying such default or in appearing in, defending, or bringing any such action or proceeding shall be paid by the Mortgagor to the Mortgagee upon demand, with interest (calculated for the actual number of days elapsed between the incurrence thereof and Mortgagor's reimbursement thereof on the basis of a 360-day year) at a rate per annum equal to 5% plus the rate of cash interest provided in the Note (herein referred to as the "Default Rate"), provided, however, that the Default Rate shall in no event exceed the maximum interest rate which the Mortgagor may by law pay, for the period after notice from the Mortgagee that such expenditure is necessary costs or expenses were incurred to protect the premises or its possession or right date of payment to possession the Mortgagee. To the extent any of the premises. EMINENT DOMAINaforementioned costs or expenses paid by the Mortgagee after default by the Mortgagor shall constitute payment of (i) taxes, charges or assessments which may be imposed by law upon the Mortgaged Property, (ii) premiums on insurance policies covering the Mortgaged Property, (iii) expenses incurred in upholding the lien of this Mortgage, including, but not limited to, the costs and expenses of any litigation to collect the indebtedness secured by this Mortgage or to prosecute, defend, protect or preserve the rights and the lien created by this Mortgage, or (iv) any amount, cost or charge to which the Mortgagee becomes subrogated, upon payment, whether under recognized principles of law or equity, or under express statutory authority; then, and in each such event, such costs, expenses and amounts, together with interest thereon at the Default Rate, shall be added to the indebtedness secured by this Mortgage and shall be secured by this Mortgage.

Right to Cure Default. Except as may be provided elsewhere in this lease agreement, should Landlord If default in the performance of any of its obligations under this lease, Tenant agrees that, prior to cancelling this lease or withholding any rent hereunder or making any payments against rent due hereunder (except for emergency repairs)the covenants of the Mortgagor herein occurs, the Tenant shall give the Landlord and Landlord's first mortgagee (provided the Tenant has been notified Collateral Agent, on behalf of the name Mortgagee, may, at its discretion, remedy the same and address of same) not less than thirty (30) days' written notice setting forth the default giving rise to for such right, sent by certified mail. In the event Landlord and/or Landlord's first mortgagee, as the case may be, within such thirty (30) day period, (a) commences to cure the default which is the subject of such notice and either cures such default within said thirty (30) day period, or, if such default cannot be reasonably cured within thirty (30) days, commences to cure such default and prosecutes such cure diligently through to the completion thereof or (b) commences foreclosure proceedings and prosecutes such foreclosure proceedings diligently through to completion thereof, the Tenant purpose shall not have the right to cancel this leaseenter upon the Mortgaged Property or any portion thereof without thereby becoming liable to the Mortgagor or any person in possession thereof holding under the Mortgagor. If Collateral Agent shall remedy such a default or appear in, withhold defend, or bring any rents hereunder action or claim any offset against rent due hereunder. The foregoing conditions precedent proceeding to Tenant's making payments and/or withholding or offsetting rent shall not apply in any instance where Tenant expends monies protect its interest in the Mortgaged Property or to foreclose this Mortgage or collect the Debt, the costs and expenses thereof (including reasonable belief attorneys' fees to the extent permitted by law), with interest as provided in this paragraph, shall be paid by the Mortgagor to the Collateral Agent upon demand. All such costs and expenses incurred by the Collateral Agent in remedying such default or in appearing in, defending, or bringing any such action or proceeding shall be paid by the Mortgagor to the Collateral Agent upon demand, with interest (calculated for the actual number of days elapsed between the incurrence thereof and Mortgagor’s reimbursement thereof on the basis of a 360-day year) at a rate per annum equal to 13% plus the rate of cash interest provided in the Notes (herein referred to as the “Default Rate”), provided, however, that the Default Rate shall in no event exceed the maximum interest rate which the Mortgagor may by law pay, for the period after notice from the Collateral Agent that such expenditure is necessary costs or expenses were incurred to protect the premises or its possession or right date of payment to possession the Collateral Agent. To the extent any of the premises. EMINENT DOMAINaforementioned costs or expenses paid by the Collateral Agent after default by the Mortgagor shall constitute payment of (i) taxes, charges or assessments which may be imposed by law upon the Mortgaged Property, (ii) premiums on insurance policies covering the Mortgaged Property, (iii) expenses incurred in upholding the lien of this Mortgage, including, but not limited to, the costs and expenses of any litigation to collect the indebtedness secured by this Mortgage or to prosecute, defend, protect or preserve the rights and the lien created by this Mortgage, or (iv) any amount, cost or charge to which the Mortgagee becomes subrogated, upon payment, whether under recognized principles of law or equity, or under express statutory authority; then, and in each such event, such costs, expenses and amounts, together with interest thereon at the Default Rate, shall be added to the indebtedness secured by this Mortgage and shall be secured by this Mortgage.

Right to Cure Default. Except as may be provided elsewhere in this lease agreement, should Landlord default in (a) In the performance of event Tenant shall fail to comply fully with any of its obligations under this leasehereunder, Tenant agrees thatthen Landlord shall have the right, prior at its option to cancelling this lease or withholding any rent hereunder or making any payments against rent due hereunder cure such breach, at Tenant's expense, upon ten (except for emergency repairs), the Tenant shall give the Landlord and Landlord's first mortgagee (provided the Tenant has been notified of the name and address of same) not less than thirty (3010) days' prior written notice setting forth to Tenant, except in cases of emergency (in which event no notice need be given), and if Tenant shall fail to cure said default within such period, provided however, that if said default cannot be cured within said period, then Tenant shall have commenced in good faith to cure such default within said ten (10) day period and shall continue the default giving rise curing thereof diligently thereafter. Tenant agrees to such rightreimburse Landlord promptly (as Additional Rental) for all costs and expenses incurred as a result thereof or in connection therewith, sent together with interest at the Overdue Interest Rate from the date incurred until repaid. Any action so taken by certified mail. Landlord pursuant to this lease shall not serve to waive or release Tenant from its performance of any obligation hereunder. (b) In the event Landlord and/or shall fail to comply fully with any of its obligations hereunder, then Tenant shall have the right, at its option to cure such breach, at Landlord's first mortgageeexpense, as the case may beupon ten (10) days' prior written notice to Landlord, except in cases of emergency (in which event no notice need be given), and if Landlord shall fail to cure said default within such thirty (30) day period, (a) commences provided however, that if said default cannot be cured within said period, then Landlord shall have commenced in good faith to cure the default which is the subject of such notice and either cures such default within said thirty ten (3010) day period, or, if such default cannot be reasonably cured within thirty period and shall continue the curing thereof diligently thereafter. Landlord agrees to reimburse Tenant promptly (30as a reduction in or set-off against Rental) days, commences to cure such default for all costs and prosecutes such cure diligently through to the completion expenses incurred as a result thereof or (b) commences foreclosure proceedings and prosecutes such foreclosure proceedings diligently through in connection therewith, together with interest at the Overdue Interest Rate from the date incurred until repaid. Any action so taken by Tenant pursuant to completion thereof, the Tenant this lease shall not have the right serve to cancel this lease, withhold waive or release Landlord from its performance of any rents hereunder or claim any offset against rent due obligation hereunder. The foregoing conditions precedent to Tenant's making payments and/or withholding or offsetting rent shall not apply in any instance where Tenant expends monies in the reasonable belief that such expenditure is necessary to protect the premises or its possession or right to possession of the premises. EMINENT DOMAIN.