Common use of Sublandlord Default Clause in Contracts

Sublandlord Default. In the event Sublandlord fails to perform any of its obligations under this Sublease and (except in case of emergency posing an immediate threat to persons or property, in which case no prior notice shall be required) fails to cure such default within thirty (30) days after written notice from Subtenant specifying the nature of such default where such default could reasonably be cured within said thirty (30) day period, or fails to commence such cure within said thirty (30) day period and thereafter continuously with due diligence prosecute such cure to completion where such default could not reasonably be cured within said thirty (30) day period, then Subtenant may: (i) proceed in equity or at law to compel Sublandlord to perform its obligations and/or to recover damages proximately caused by such failure to perform (except to the extent Subtenant has waived its right to damages resulting from injury to person or damage to property as provided herein); or (ii) cure any default of Sublandlord at Sublandlord's cost. If Subtenant at any time by reason of Sublandlord's default reasonably pays any sum or does any act that requires the payment of any sum, the sum paid by Subtenant shall be immediately due from Sublandlord to Subtenant at the time the sum is paid. Any and all rights and remedies herein created for Subtenant shall be cumulative and use of one remedy shall not be taken to exclude or waive the right to the use of another and Subtenant shall have the remedies available to Subtenant under applicable law.

Appears in 2 contracts

Samples: Avanex Corp, Avanex Corp

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Sublandlord Default. In the event that Sublandlord fails to perform defaults in the ------------------- performance of any of its Sublandlord's obligations under this Sublease and Sublease, Subtenant shall give Sublandlord a written notice of default (except in case of emergency posing an immediate threat to persons or propertythe "Sublandlord Default Notice"), in which case no prior notice shall be required) fails to specify in what manner Sublandlord has defaulted. Sublandlord shall cure any such default within thirty (30) days after written notice from Subtenant specifying Sublandlord's receipt of the nature of Sublandlord Default Notice (except that if such default where such default could reasonably cannot be cured within said thirty (such 30) -day period, or fails this period shall be extended for an additional reasonable time, provided that Sublandlord commences to commence cure such cure default within said thirty (such 30) -day period and proceeds diligently thereafter continuously with due diligence prosecute to effect such cure as promptly as is practicable). In the event Sublandlord fails to completion where cure such default could not reasonably within the foregoing period (or such shorter period as may be cured within said thirty required to comply with the Master Lease or any applicable law), and provided Subtenant provides at least two (302) day periodbusiness days' prior notice to Sublandlord, then Subtenant may: (i) proceed in equity or at law to compel Sublandlord to perform its obligations and/or to recover damages proximately caused by such failure to perform (except to the extent Subtenant has waived its right to damages resulting from injury to person or damage to property as provided herein); or (ii) cure any default of Sublandlord at Sublandlord's cost. If Subtenant at any time by reason of Sublandlord's default reasonably pays any sum or does any act that requires the payment of any sum, the sum paid by Subtenant shall be immediately due entitled to cure such default and to thereafter collect from Sublandlord to Subtenant at the time the sum is paid. Any and all rights and remedies herein created for Subtenant shall be cumulative and use of one remedy shall not be taken to exclude or waive the right to the use of another and Subtenant shall have the remedies available to Subtenant under applicable lawSubtenant's costs in so doing.

Appears in 1 contract

Samples: Sublease Agreement (Talk City Inc)

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Sublandlord Default. Sublandlord shall be in default hereunder only if Sublandlord has not commenced and pursued with reasonable diligence the cure of any failure of Sublandlord to meet its obligations hereunder within thirty (30) days after the receipt by Sublandlord of written notice from Subtenant of the alleged failure to perform. Failure to provide the requisite notice and cure period by Subtenant under this paragraph shall be an absolute defense by Sublandlord against any claims,. counterclaims or defenses of Subtenant based on the alleged failure by Sublandlord to perform any of its obligations. In the event that Sublandlord fails to perform any of its obligations under this Sublease after notice and the expiration of such cure period (except provided, however, that in case the event of an emergency posing an immediate threat that threatens imminent harm to persons or property, in which case no prior notice shall be required) fails to Sublandlord’s cure period following such default within thirty (30) days after written notice from Subtenant specifying shall be such period as is practicable under the nature of such default where such default could reasonably be cured within said thirty (30) day periodcircumstances), or fails then, subject to commence such cure within said thirty (30) day period any applicable provisions and thereafter continuously with due diligence prosecute such cure to completion where such default could not reasonably be cured within said thirty (30) day periodlimitations under the Master Lease, then Subtenant may: (i) proceed , but shall not be obligated to, perform any such obligations for Sublandlord’s account. All actual and reasonable costs and expenses incurred by Sublandlord in equity or at law to compel Sublandlord to perform its obligations and/or to recover damages proximately caused by performing any such failure to perform (except to act for the extent Subtenant has waived its right to damages resulting from injury to person or damage to property as provided herein); or (ii) cure any default account of Sublandlord at Sublandlord's cost. If Subtenant at any time by reason of Sublandlord's default reasonably pays any sum or does any act that requires the payment of any sum, the sum paid by Subtenant shall be immediately due from payable by Sublandlord to Subtenant at the time the sum is paid. Any and all rights and remedies herein created for Subtenant shall be cumulative and use of one remedy shall not be taken to exclude or waive the right to the use of another and Subtenant shall have the remedies available to Subtenant under applicable lawupon demand.

Appears in 1 contract

Samples: Assignment and Assumption of Lease (LendingClub Corp)

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