Landlord Defaults definition

Landlord Defaults. The failure of Landlord to provide funds to any Reserve on or before the date such funds are required to be paid under Section 5.07.B hereof or under the Owner Agreement (after any Arbitration, if applicable), (2) the failure of Landlord to make insurance or condemnation proceeds available for repair, restoration or replacement required under the Owner Agreement, (3) the imposition by Landlord of a Mortgage against any Hotel which is not a Qualifying Mortgage, (4) the permitting by Landlord of a lien on Landlord's interest in any Hotel in violation of the terms hereof of or the Owner Agreement, or (5) a Landlord Sale of any Hotel occurs in violation of the Owner Agreement. If a Landlord Default occurs, Tenant shall have no remedies under this Agreement with respect to such Landlord Default, but reserves its rights and remedies under the Lease. Notwithstanding anything herein to the contrary, Manager shall be entitled to exercise any and all of the remedies of Manager with respect to a Landlord Default under the Owner Agreement.
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Examples of Landlord Defaults in a sentence

  • The foregoing notice and cure periods shall not be applicable to specific Lease provisions that provide Tenant with specific rights for Landlord Defaults.

  • The First Mortgagee and Ground Lessor shall have the right to cure Landlord Defaults within the time periods herein set forth before Tenant may exercise any rights under Sections 29(a) or (c).

  • Landlord Defaults..............................................................................................................................

  • With 33 respect to Landlord Defaults, Tenant shall have the right to perform such obligations on behalf of Landlord, without such performance being construed as a waiver of the Landlord Default or of any other right or remedy of Tenant with respect to such Landlord Default, or as a waiver of any term or condition of this Lease.

  • If, as a result of the Foreclosure Proceedings, any Mortgage Lien is foreclosed, then the foreclosed Landlord shall liable to Tenant hereunder for any Landlord Defaults that occurred prior to the foreclosure of the Mortgage Lien.

  • Tenant’s failure to execute and deliver such statement within the allotted time shall be conclusive upon Tenant that (a) this Lease is in full force and effect, without modification; (b) there are no uncured Landlord Defaults; and (c) not more than one month’s Rent has been paid in advance.