Common use of RIGHT TO CURE SUBTENANT'S DEFAULTS Clause in Contracts

RIGHT TO CURE SUBTENANT'S DEFAULTS. If Subtenant shall at any time fail to make any payment or perform any other obligation of Subtenant hereunder and fails to cure such default following notice and prior to expiration of the applicable cure period hereunder, then Sublandlord shall have the right, but not the obligation, after notice to Subtenant, or without notice to Subtenant in the case of any emergency, and without waiving or releasing Subtenant from any obligations of Subtenant hereunder, to make such payment or perform such other obligation of Subtenant in such manner and to such extent as Sublandlord shall deem necessary, and in exercising any such right, to pay any incidental costs and expenses, employ attorneys, and incur and pay reasonable attorneys’ fees. Subtenant shall pay to Sublandlord upon demand as additional rent all sums so paid by Sublandlord and all incidental costs and expenses of Sublandlord in connection therewith, together with interest thereon at an annual rate equal to the rate two percent (2%) above the base rate or prime rate then published as such in the Wall Street Journal, or, if less, the maximum rate permitted by law. Such interest shall be payable with respect to the period commencing on the date such expenditures are made by Sublandlord and ending on the date such amounts are repaid by Subtenant. The provisions of this Paragraph shall survive the Expiration Date or the sooner termination of this Sublease.

Appears in 2 contracts

Samples: Sublease (Verve Therapeutics, Inc.), Sublease (Verve Therapeutics, Inc.)

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RIGHT TO CURE SUBTENANT'S DEFAULTS. If Subtenant Sublessee shall at any time fail to make any payment or perform any other obligation of Subtenant hereunder and fails to cure such default following notice and prior to expiration of the applicable cure period hereunder, then Sublandlord Sublessor shall have the right, but not the obligation, after five (5) days' notice to SubtenantSublessee (unless such default is a non-monetary default and is not reasonably susceptible of cure within said ten (10) day period, and Sublessee shall have commenced the cure thereof within such ten (10) day period and continuously and diligently pursues such cure to completion), or without notice to Subtenant Sublessee in the case of any emergency, and without waiving or releasing Subtenant Sublessee from any obligations of Subtenant hereunder, to make such payment or perform such other obligation of Subtenant Sublessee in such manner and to such extent as Sublandlord Sublessor shall deem necessarynecessary or advisable, and in exercising any such right, to pay any incidental costs and expenses, employ attorneys, and incur and pay reasonable attorneys’ fees' fees and disbursements. Subtenant Sublessee shall pay to Sublandlord upon Sublessor, as Additional Rent, within ten (10) days after demand as additional rent all sums so paid by Sublandlord Sublessor and all incidental costs and expenses of Sublandlord Sublessor in connection therewith, together with interest thereon at an annual rate equal to the rate two percent (2%) above Prime Rate as of the base rate date Sublessor paid or prime rate incurred such costs or expenses, or the then published as such in the Wall Street Journalmaximum lawful interest rate, or, if whichever shall be less, the maximum rate permitted by law. Such interest shall be payable with respect to for the period commencing on the date Sublessor paid or incurred such expenditures are made by Sublandlord costs or expenses to and ending on including the date such amounts are same shall be repaid in full by Subtenant. The provisions of this Paragraph shall survive the Expiration Date or the sooner termination of this Sublease.

Appears in 1 contract

Samples: Arbor National Holdings Inc

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RIGHT TO CURE SUBTENANT'S DEFAULTS. If Subtenant shall at any ---------------------------------- time fail to make any payment or perform any other obligation of Subtenant hereunder and fails to cure such default following notice and prior to expiration of the applicable cure period hereunder, then Sublandlord Sublessor shall have the right, but not the obligation, after 10 days' notice to Subtenant, or without notice to Subtenant in the case of any emergency, and without waiving or releasing Subtenant from any obligations of Subtenant hereunder, to make such payment or perform such other obligation of Subtenant in such manner and to such extent as Sublandlord Sublessor shall deem necessary, and in exercising any such right, to pay any incidental costs and expenses, employ attorneys, and incur and pay reasonable attorneys' fees. Subtenant shall pay to Sublandlord Sublessor upon demand as additional rent all sums so paid by Sublandlord Sublessor and all incidental costs and expenses of Sublandlord Sublessor in connection therewith, together with interest thereon at an annual rate equal to the rate two of one and one-half percent (2%) above per calendar month or any part thereof or the base rate or prime rate then published as such in the Wall Street Journalmaximum lawful interest rate, or, if whichever shall be less, from the maximum rate permitted by lawdate of the making of such expenditures. Such interest For the purposes of this Paragraph 20, a court of appropriate jurisdiction shall be payable decide any good faith dispute between Sublessor and Subtenant with respect to the period commencing on the date such expenditures are made by Sublandlord and ending on the date such amounts are repaid by Subtenant. The provisions of this Paragraph shall survive the Expiration Date whether Subtenant failed to timely make payment or the sooner termination of perform any other obligation under this Sublease., and such final determination shall govern whether Sublessor is entitled to any sums expended by it (plus interest) pursuant to this

Appears in 1 contract

Samples: Lease Agreement (Pilot Network Services Inc)

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