Common use of Unperformed Covenants of Landlord May Be Performed By Tenant Clause in Contracts

Unperformed Covenants of Landlord May Be Performed By Tenant. If Landlord shall fail to perform any of the terms, provisions, covenants or conditions to be performed or complied with by Landlord pursuant to this Lease, or if Landlord should fail to make any payment which Landlord agrees to make, and any such failure shall, if it relates to a matter which is not of any emergency nature, remain uncured for a period of thirty (30) days after Tenant shall have served upon Landlord notice of such failure, or for a period of twenty-four (24) hours after service of such notice, if in Tenant's judgment reasonably exercised such failure related to a matter which is of an emergency nature, then Tenant may at Tenant's option, at any time prior to commencement of Landlord's acting to cure such failure and thereafter if Landlord fails to diligently perform the curing of such failure, perform any such term, provision, covenant or condition or to make any such payment, as Landlord's agent, and in Tenant's sole discretion as to the necessity therefor, and Tenant shall not be liable or responsible for any loss or damage resulting to Landlord or anyone holding under Landlord on account thereof. The full amount of the cost and expense entailed, or payment so made, shall immediately be owing and payable by Landlord to Tenant. The option given in this Section is for the sole protection of Tenant, and its existence shall not release Landlord from the obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Landlord or deprive Tenant of any legal rights which it may have by reason of any such default by Landlord.

Appears in 6 contracts

Samples: Asset Purchase Agreement (Gottschalks Inc), Store Lease Agreement (Gottschalks Inc), Store Lease Agreement (Gottschalks Inc)

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