Common use of Tenant’s Failure to Perform Clause in Contracts

Tenant’s Failure to Perform. In the event that Tenant fails to do any act or make any payment or perform any term or covenant on Tenant’s part required under this Lease or otherwise fails to comply herewith, after expiration of any applicable cure period, Landlord may (at its option, but without being required to do so) immediately, or at any time thereafter and without any further notice, and without relieving Tenant of any of its obligations hereunder, perform the same on the account that Tenant has failed to do so; provided however, that it is understood that the cure period in Section 21 shall not apply with respect to (x) obligations relating to maintenance of insurance, and removing or bonding a lien, which shall be governed by Sections 7 and 9 respectively; and (y) repair of the Premises or other parts of the Property, in which case Landlord shall not exercise such right until the expiration of fifteen (15) days’ written notice from Landlord (except in the case of an emergency in which case no such notice shall be required, and immediate exercise is permitted). If Landlord makes any expenditures, or incurs any obligations for the payment of money in connection therewith, including, but not limited to, attorneys’ fees in instituting prosecuting or defending any action or proceeding, such sums paid or obligations incurred, with interest at the rate of twelve percent (12%) per annum from the date Landlord incurs such expense or cost, shall be deemed to be Additional Rent hereunder and shall be paid by Tenant to Landlord within five (5) days of rendition of any bill or statement to Tenant therefor. All rights given to Landlord in this Article shall be in addition to any other rights or remedies xx Landlord herein contained or otherwise available.

Tenant’s Failure to Perform. In the event that Tenant fails to do any act or make any payment or perform any term or covenant on Tenant’s part required under this Lease or otherwise fails to comply herewith, after expiration of any applicable cure period, Landlord may (at its option, but without being required to do so) immediately, or at any time thereafter and without any further notice, and without relieving Tenant of any of its obligations hereunder, perform the same on the account that Tenant has failed to do so; provided however, that it is understood that the cure period in Section 21 shall not apply with respect to (x) obligations relating to maintenance of insurance, and removing or bonding a lien, which shall be governed by Sections 7 and 9 respectively; and (y) repair of the Premises or other parts of the Property, in which case Landlord shall not exercise such right until the expiration of fifteen (15) days’ written notice from Landlord (except in the case of an emergency in which case no such notice shall be required, and immediate exercise is permitted). If Landlord makes any expenditures, or incurs any obligations for the payment of money in connection therewith, including, but not limited to, attorneys’ fees in instituting prosecuting or defending any action or proceeding, such sums paid or obligations incurred, with interest at the rate of twelve percent (12%) per annum from the date Landlord incurs such expense or cost, shall be deemed to be Additional Rent hereunder and shall be paid by Tenant to Landlord within five (5) days of rendition of any bill xxxx or statement to Tenant therefor. All rights given to Landlord in this Article shall be in addition to any other rights or remedies xx of Landlord herein contained or otherwise available.

Tenant’s Failure to Perform. In the event that Tenant fails to do any act or make any payment or perform any term or covenant on Tenant’s 's part required under this Lease or otherwise fails to comply herewith, after expiration of any applicable cure period, . Landlord may (at its option, but without being required to do so) immediately, or at any time thereafter and without any further notice, and without relieving Tenant of ot any of its obligations hereunder, perform the same on the account that Tenant has failed to do so; provided however, that it is understood that the cure period in Section 21 shall not apply with respect to (x) obligations relating to maintenance of insurance, and removing or bonding a lienhen, which shall be governed by Sections 7 and 9 respectively; and (y) repair of the Premises or other parts of the Property, in which case Landlord shall not exercise such right until the expiration of fifteen (15) days’ ' written notice from Landlord (except in the case of an emergency in which case no such notice shall be required, and immediate exercise is permitted). If Landlord makes any expenditures, or incurs any obligations for the payment of money in connection therewith, including, but not limited to, . attorneys’ ' fees in instituting prosecuting or defending any action or proceeding, such sums paid or obligations incurred, with interest at the rate of twelve six percent (126%) per annum from the date Landlord incurs such expense or cost, shall be deemed to be Additional Rent hereunder and shall be paid by Tenant to Landlord within five (5) days of rendition of any bill or statement to Tenant therefor. All rights given to Landlord Landlxxx in this Article shall be in addition to any other rights or remedies xx of Landlord herein contained or otherwise available.