Common use of Default and Termination Clause in Contracts

Default and Termination. 23.1 In the event of any failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any of the Related Agreements. Notwithstanding anything to the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, to exercise the following remedies (which remedies need not be used exclusively):

Appears in 2 contracts

Samples: Lease Agreement (Premier Finance Biloxi Corp), Lease Agreement (Premier Finance Biloxi Corp)

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Default and Termination. 23.1 In the event Mallards shall default in any of the amounts due to City as set forth in this Agreement or in the observance of any of the covenants, agreements, commitments, or conditions herein contained, and any such default shall continue unremedied for a period of fifteen (15) days after written notice thereof to Mallards, or (a) Mallards shall make an assignment of its property for the benefit of creditors, or (b) Mallards shall petition a court to be adjudged a bankrupt, or (c) if a petition in bankruptcy shall be filed in any court against Mallards for more than thirty (30) days, or (d) if Mallards be judicially determined to be insolvent, or (e) Mallards shall be adjudged a bankrupt, or (f) if a receiver or other officer shall be appointed to take charge of the whole or any part of Mallards' property or to wind up or liquidate it affairs, or (g) if Mallards shall seek a reorganization under any of the terms of the National Bankruptcy Act, as amended, or under any other insolvency law, or (h) Team shall admit in writing its inability to pay its debts as they become due, or (i) if any final judgment shall be rendered against Mallards and remain unsatisfied for a period of thirty (30) days from the date on which it becomes final; or (j) if Mallards shall abandon the facility, City may, at its option and in addition to all other rights and remedies which it may have at law or in equity against Mallards, including expressly the specific enforcement hereof, forthwith have the cumulative right to immediately terminate this Agreement and all rights of the Mallards hereunder and require payment of the Performance bond as set forth in Section 12.c.; but such receipt of payment from the performance bond and/or cancellation shall not constitute a cancellation or a waiver by the City of the remainder of the total amounts payable to City, or for any damages or losses for the unexpired portion of the demised term which may be sustained by the City on account of such default, assignment, insolvency, adjudication, or other default as provided hereinabove in this Section, including any expenses incurred in exercising its rights in this Agreement. In the event of any failure lapse of compliance insurance policies or coverage and protection as required by Tenant with any this Agreement City may, without notice of its obligations default, declare this Agreement terminated. Mallards shall have no access rights to Landlord or use of Ballpark unless all insurance policies required by this Agreement are in full force and effect. In the event of default as provided for defined in this LeaseSection, such action shall constitute a default by Tenant under this Lease. Upon any such failure City may declare the present value (discounted at the prime rate of compliance by Tenant with any Citicorp Bank, N.A.) of its obligations to Landlord as provided the balance of the Game Rental Fee for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default term of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys Agreement immediately due and unpaid to Landlord hereunder; (b) payable and if not paid within ten (10) days following after written notice to Mallards, shall be entitled to immediate payment from the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion surety of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any entire unpaid balance of the Related Agreements. Notwithstanding anything to the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed rent due as well as other costs incurred by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by TenantCity. In the event Tenant fails of termination of this Agreement for default, Mallards may make no claim for compensation for the capital improvements furnished under Section 8.b. and the Improvement Agreement and City shall retain title and ownership of the said Ballpark, together with all buildings and improvements thereon, without any payment whatsoever to effect any required cure as provided for hereinMallards. No improvements, Tenant buildings or fixtures shall be deemed removed from the above-described Ballpark during the term of this Agreement or renewal period of this Agreement without the written consent of City, except any equipment or trade fixtures of Mallards which Mallards lawfully removes prior to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, to exercise the following remedies (which remedies need not be used exclusively):termination of this Agreement.

Appears in 2 contracts

Samples: Use Agreement, Use Agreement

Default and Termination. 23.1 In The Licensee may terminate this Agreement by giving Landgate at least 60 days’ Notice of termination. Landgate may, in its absolute discretion, immediately suspend access to the Location Information Products or terminate this Agreement immediately by Notice to the Licensee if: the Licensee commits a breach of any term of this Agreement and has not remedied the breach to the reasonable satisfaction of Landgate (if capable of remedy) within 14 days of receiving Notice from Landgate requesting that the breach be remedied; the Licensee fails to follow, meet or comply with any warranties and representations made in respect of the Qualitative Criteria; the Licensee is wound up, becomes insolvent or has a liquidator, provisional liquidator, administrator, receiver, manager or receiver and manager appointed; the Licensee fails to comply with clauses 5, 21, 23, 25 or 26; the Licensee commits a fraudulent act against Landgate; the Licensee has been guilty of misrepresentation in its dealings with Landgate; the Licensee ceases or threatens to cease conducting its business in the normal manner; the Licensee provides or uses the Location Information Product in a manner that avoids or undermines this Agreement generally or the Annual Pricing Table; the Licensee fails to comply with a change to this Agreement as a result of a change to Government Policy within the timeframe specified in clause 36.3; the continued provision of the Location Information Product will result in a breach of Government Policy or any ruling or decision of a court, tribunal or other statutory body; the Licensee or a Related Body acquires, directly or indirectly, an interest in a Sub-VAR, another licensee, former Sub-VAR or former licensee of Landgate; or Landgate is unable for any reason to continue providing the Location Information Product, given that supply may be dependent upon the co-operation of third parties. Landgate may, in the event of any failure default by the Licensee, in addition to any other remedy provided in this Agreement or at law: immediately without notice suspend part or all of compliance the Licensee’s access to the Location Information Product until such time as the Licensee remedies the default, charge the Licensee interest on any overdue amounts in accordance with clause 6.8; charge and recover from the Licensee all costs reasonably incurred by Tenant Landgate in relation to the enforcement and/or collection of any overdue amounts; and perform on behalf of the Licensee any obligations that the Licensee should have done or is required to do under this Agreement. Notwithstanding anything else contained in this Agreement, Landgate may at any time suspend or terminate this Agreement or the Licensee’s access to SLIP immediately by Notice to the Licensee if: any operational matters or issues arise, including any limitations or issues with the SLIP software, SLIP software provider, platform, storage capacity within SLIP, any SLIP usage limitations or any reasonable access concerns of Landgate or any Other Data Custodian; any agreement between Landgate and the SLIP software provider requires Landgate to cease using the SLIP software for any reason or the terms of any relevant provider agreement are no longer acceptable to Landgate; or Landgate ceases to operate or manage SLIP, provided that if the Licensee is not in breach of this Agreement, and Landgate elects to terminate this Agreement, Landgate will refund any pre-paid Charges on a pro rata basis. To the extent that Landgate is required to perform the Licensee’s obligations or recover any outstanding amounts, the Licensee agrees: within 7 days of receiving an invoice from Landgate, to pay Landgate the full amount of such invoice, without set-off or deduction for Landgate’s costs and efforts; and Landgate may immediately take action to recover any amount due to it as a liquidated debt. The Licensee may terminate this Agreement immediately by Notice to Landgate if: Xxxxxxxx commits a material breach of this Agreement and does not remedy the breach (if capable of remedy) within 14 days of receiving Notice from the Licensee requesting that the breach be remedied; or Landgate: ceases or takes steps to cease conduct of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises normal manner; or is wound up, becomes insolvent or has a liquidator, provisional liquidator, administrator, receiver, manager or receiver and manager appointed. Obligations when Agreement Ends Termination or expiration of this Agreement will not affect any accrued rights or liabilities of either Party including rights to injunctive relief or any liability to account for profits from any breach of this Agreement. On the termination or expiration of this Agreement, the Licensee must immediately: pay Landgate all Charges that are owing; cease to use all Location Information Products including as contained in accordance whole or in part in any Value Added Products; to the extent that it is able, delete and expunge, or arrange for the deletion of, any Location Information Products obtained from Landgate, including all copies of any Location Information Products able to be disaggregated from its Systems and records (in whatever form or medium held); to the extent that it is able, return to Landgate, or delete and expunge, all of Landgate’s Confidential Information and intellectual property; maintain the security and confidentiality of all of Landgate’s Confidential Information; and co-operate with Landgate in every other respect, as it may reasonably require, to minimise any loss, damage or inconvenience to Landgate and its customers resulting from the expiration or termination of this Agreement. The Licensee may continue to keep one secure copy of the Location Information Product for archiving, statutory and indemnity purposes if notified to Landgate, but may not further use or distribute any Location Information Product. The Licensee must provide Landgate with a Notice, within 14 days of the Termination Date certifying that clauses 32.2(b) to 32.2(d) have been complied with. The Licensee must permit Landgate or any person authorised by Landgate to inspect and audit the Licensee to ensure compliance with this Lease; clause and (c) in all other cases, within twenty (20) days following the effective date this Agreement. This clause will survive termination of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any of the Related Agreements. Notwithstanding anything to the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, to exercise the following remedies (which remedies need not be used exclusively):Agreement.

Appears in 1 contract

Samples: www.landgate.wa.gov.au

Default and Termination. 23.1 In the event of addition to any failure of compliance by Tenant with any of its obligations to Landlord as and all other rights or remedies provided for in this LeaseLease or which Landlord or Tenant may have at law, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Leaseequity, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoingor otherwise, if Tenant fails to effect comply with any obligation imposed upon Tenant hereunder within any time period required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any time being of the Related Agreements. Notwithstanding anything to essence of all such time periods), the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant same shall be deemed to be in uncured a default hereunder, hereunder and Landlord shall have the right, but shall after five (5) Business Days’ notice to Tenant for any such non-compliance and Tenant’s failure to remedy the same within such five (5) Business Day period (or if such non-compliance is not monetary and cannot be obligatedremedied within such five (5) Business Day period, Tenant’s failure to commence to cure such non-compliance within such period and to thereafter diligently pursue such cure to completion, provided that in all events such cure shall be completed within thirty (30) days), to terminate this Lease at any time thereafterthereafter on notice to Tenant, and this Lease and the Term and all of Tenant’s rights under this Lease shall expire and terminate upon the date of such notice and Tenant shall immediately quit and surrender the Demised Premises to exercise Landlord, but Tenant shall nonetheless remain liable for all of Tenant’s obligations hereunder. In addition to and not by way of limitation of Landlord’s other rights and remedies, in the following remedies (which remedies need not be used exclusively):event Tenant fails to surrender the Premises in accordance with the terms of this Agreement, Tenant hereby agrees to subject itself to the jurisdiction of the Superior Court of New Jersey, Special Civil Part - Landlord Tenant Section for the purpose of summary dispossession proceedings, if Landlord institutes proceedings in such court.

Appears in 1 contract

Samples: Short Term Lease Agreement (Trinity Place Holdings Inc.)

Default and Termination. 23.1 In If the event of any failure of compliance Rent or Additional Rent herein reserved shall not have been paid when due and shall remain unpaid for fourteen (14) day after written notice thereof is given by Tenant with the OWNER to TENANT; or if any of its the other covenants, conditions and obligations of the TENANT under this Lease shall not be performed within thirty (30) days after written notice thereof is given by the OWNER to Landlord as provided the TENANT; or if the TENANT should be adjudicated a bankrupt or should a permanent receiver in insolvency or a permanent trustee in bankruptcy of the TENANT be appointed and said appointment shall not have been vacated within sixty (60) days; or should the TENANT make an assignment for the benefit of creditors or file a voluntary petition for reorganization under the Bankruptcy Act; or should the TENANT'S interest in this Lease, such Lease be taken on execution or other process of law in any action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided against TENANT; or if the Premises are abandoned or vacated for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; (b) more than ten (10) days following days; or should any of the date foregoing events occur in regards to any guarantor of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; then and (c) in all other caseseach such case the OWNER may, within twenty (20) days following at the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right OWNER'S option terminate this Lease without demand or further notice to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later dateTENANT; and (ii) in thereafter the case OWNER may enter the Premises, either with or without process of non-monetary defaultslaw, if any such default by Tenant remains uncured at and repossess the conclusion Premises as of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of OWNER'S former estate without any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided liability for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole optionso doing, and without prejudice to any other rights remedies; and TENANT shall indemnify OWNER during the remaining period before this Lease would otherwise expire against all loss or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any of the Related Agreements. Notwithstanding anything to the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have damage suffered by reason of any the termination, the loss or damage, if any, for such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed Lease month to be paid at the end thereof. Nothing herein contained shall, however, limit or prejudice the right of OWNER to prove for an obtain in uncured default hereunderproceedings for bankruptcy or insolvency by reason of the termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and Landlord shall have governing the rightproceedings in which, but shall the damages are to be proved, whether or not the amount be obligatedgreater, at any time thereafterequal to, or less than the amount of the loss or damage referred to exercise the following remedies (which remedies need not be used exclusively):above.

Appears in 1 contract

Samples: Agreement (Call Points Inc)

Default and Termination. 23.1 In the event If Lessee fails to pay any installment of any failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; (b) rent within ten (10) days following after the date of any Default Notice in the case of any default for failure due date, or to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to perform any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord covenant under this Lease within thirty (30) days after receipt written notice from Lessor stating the nature of Landlord's xxxxsuch default, Landlord Lessor may deduct the reasonable cost incurred from any cancel this Lease and all amounts due from Landlord pursuant to any re-enter and take possession of the Related Agreements. Notwithstanding anything Premises using all necessary force to do so; provided, however, that if the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure nature of such default in (other than for nonpayment of rent) is such that the Premises or any portion of the Project whichsame cannot reasonably be cured within such thirty-day period, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence Lessee shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunderif Lessee shall, within such period, commence such cure and Landlord shall have thereafter diligently pursue the rightsame to completion. Notwithstanding such retaking of possession by Lessor, but Lessee's liability for the rent provided herein shall not be obligatedextinguished for the balance of the term of this Lease. Upon such re-entry, at Lessor may, without terminating this Lease, relet or attempt to relet, all or any time thereafterpart of the Premises upon such terms and conditions as Lessor may deem advisable, in which event the rents received in connection with such reletting shall be applied first to exercise the following remedies (which remedies need expenses of reletting and collection, including any necessary renovations and thereafter to payment of all sums due to or become due Lessor pursuant to the terms of this Lease, and if a sufficient amount shall not be used exclusively):thus realized to pay such charges, Lessee shall pay Lessor any deficiency monthly, and Lessor may bring an action for any and all such monthly deficiencies as the same shall arise. Lessee hereby waives any and all claims for damages that may be caused by Lessor's re-entering and taking possession of the Premises or removing and storing the property of Lessee as provided in this Lease, and Lessee will save Lessor harmless from any loss, costs or damages occasioned Lessor thereby, and no such re-entry shall be considered or construed to be a forcible entry.

Appears in 1 contract

Samples: 1 Lease Agreement (Illuminet Holdings Inc)

Default and Termination. 23.1 In the event of If Lessee shall neglect or fail to make any failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the rental payment of moneys due and unpaid to Landlord hereunder; (b) within ten (10) days following after its due date or if Lessee shall fail to cure (or to commence to cure) a default in the date performance of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Period, and if the nature other of TenantLessee's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord covenants within thirty (30) days after receipt date of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any notice of the Related Agreements. Notwithstanding anything to the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by TenantLessor, or if Lessee, having commenced to cure a default within the thirty (30) days period, shall fail to complete the curing of the default without unreasonable delay, Lessor lawfully may immediately or any time thereafter and without demand or notice or the necessity of compliance with any statute in any manner relating to summary process, enter the Lessee's Quarters and repossess the same and expel Lessee and those claiming through or under Lessee and remove their effects forcibly if necessary, without being deemed guilty of any manner of trespass and without prejudice to any rights or remedies Lessor may be entitled to in law or at equity. In Upon such entry all rights of Lessee under this Lease shall terminate. Lessor shall have all rights described herein and this Lease shall also terminate if (i) the event Tenant fails to effect any required cure as provided for herein, Tenant leasehold hereby created shall be deemed taken on execution or by other process of law, (ii) any assignment shall be made of Lessee's property for the benefit of creditors, (iii) a receiver, guardian, conservator, trustee in bankruptcy or similar officer shall be appointed by a court of competent jurisdiction to be in uncured default hereundertake charge of all or part of Lessee's property, or (iv) Lessee commits any act of bankruptcy, or if a petition is filed by Lessee under any bankruptcy or insolvency law and Landlord shall have the right, but same shall not be obligateddismissed within thirty (30) days from the date upon which it is filed. Lessee covenants that if the Lease is terminated, Lessee shall be liable to Lessor for payment of a sum equal to the amount of the rent and other payments called for hereunder for the remainder of the original term and any extensions thereof, less any amounts received by Lessor as a result of Lessor's lease of the Lessee's Quarters to a third party. Lessor shall make reasonable efforts to lease the Lessee's Quarters at rent equal to the prevailing local rate. In addition, Lessee shall pay Lessor's expenses, including, but not limited to, court costs and attorneys' fees, incurred in enforcing any time thereafter, to exercise the following remedies (obligation of this Lease with which remedies need Lessee has not be used exclusively):complied.

Appears in 1 contract

Samples: Lease Agreement (Graphon Corp/De)

Default and Termination. 23.1 In Termination by notice The Company may terminate this agreement by giving the event Manager not less than [30] days' notice. Termination for default The Company may terminate this agreement by Notice with immediate effect if it reasonably believes the Manager: has breached any provision of any failure this agreement and either: the breach cannot be remedied; or if the breach is remediable, it has not been remedied after 14 days’ Notice being provided to the Manager advising of compliance by Tenant with any the breach; or has become the subject of its obligations an Insolvency Event. The rights available to Landlord as provided for in this Lease, such action shall constitute a default by Tenant party under this Leaseclause 13.2 do not affect any other right or remedy otherwise available to it. Consequences of termination Upon any such failure receipt of compliance by Tenant with any a termination Notice, the Manager must immediately: cease provision of the Services; take all possible action at its obligations cost to Landlord as provided for in this Lease, Landlord shall have ensure the right, but not safety of all Personnel and the obligation, to declare Tenant in default protection of this Lease, by delivering to Tenant notice all goods and services that formed part of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object relevant Services to the amount so paid at a later dateCompany; and (ii) in return to the case of non-monetary defaults, if Company any such default items issued to the Manager by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required Company; take all possible action to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein mitigate any liability incurred by it as a result of such termination; and any such defaultother action reasonably required by the Company in relation to the termination. Subject to this agreement, upon termination, the Company: will not be liable for any Management Fees that are or have been deferred under clause 5.2, but are unpaid as at the date of termination; must in accordance with clause 5 calculate the Management Fee (if Tenant commences cure within any) for the Non-Monetary Default Cure Payment Period ending on the End Date or the date of termination (as applicable); will be liable only to pay that part of an Invoice (including any invoice for the Management Fee to be calculated under clause 13.3(b)(ii)) which is due and thereafter diligently owing to the Manager under this agreement as at the date of termination. Clause 1 (Definitions and continuously pursues cure interpretation), clause 9 (Confidentiality), clause 6 (Intellectual property), clause 11 (Indemnities), this clause 13.3 (Consequences of termination), clause 14 (GST) and clause 16.9 (Governing law and jurisdiction) survive termination or expiry of this agreement together with any other term which by its nature is intended to completion do so. Termination of performancethis agreement does not affect any rights, remedies, obligations or liabilities of the parties that have accrued up to the date of termination, including the right to claim damages in respect of any breach of the agreement which existed at or before the date of termination. GST GST Words used in this clause 14 that have a defined meaning in the GST Law have the same meaning as in the GST Law unless the context indicates otherwise. Unless expressly stated otherwise, the consideration for any supply under or in connection with this agreement is exclusive of GST. To be effectivethe extent that any supply made under or in connection with this agreement is a taxable supply (other than a supply made under another agreement that contains a specific provision dealing with GST), any cure involving the payment amount payable by the recipient is the consideration provided under this agreement for that supply (unless it expressly includes GST) plus an amount (additional amount) equal to the amount of moneys shall include that consideration (or its GST exclusive market value) multiplied by the payment rate at which GST is imposed in respect of Interest calculated from the date supply. The recipient must pay the original payment was due until paid. Notwithstanding additional amount at the foregoing, if Tenant fails same time as the consideration to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole optionwhich it is referable, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if upon the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event issue of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any of the Related Agreements. Notwithstanding anything invoice related to the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, to exercise the following remedies (which remedies need not be used exclusively):supply.

Appears in 1 contract

Samples: wf.org.au

Default and Termination. 23.1 In the event of any failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) Tenant covenants and agrees that: (1) if default be made by Tenant in the payment of any rent or other sums herein provided to be paid by Tenant to Landlord and such default shall continue for five (5) days following the effective date of any Default Notice after such payment is due; or (sometimes hereinafter "Monetary Default Cure Period"2) in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), if Tenant shall have make default in any of the right to effect cure covenants of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges this Lease to be due kept and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; performed by Tenant and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within continue after thirty (30) days days' notice thereof in writing by Landlord to Tenant; or (3) if at any time after receipt the date of Landlord's xxxxthis Lease any proceedings in bankruptcy, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord insolvency or reorganization shall be instituted against Tenant pursuant to any of the Related Agreements. Notwithstanding anything to the contrary contained hereinfederal or state law now or hereafter enacted, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property a receiver or the Project trustee shall exist resulting from a Tenant default, Landlord may cure such default in the Premises be appointed for all or any portion of the Project which, in LandlordTenant's reasonable discretion, affects the Premises business or property and such action or appointment is not dismissed within ninety (90) days; or (4) any execution or attachment shall issue against Tenant of any of Tenant's business or property or any portion of Tenant's interest in the ProjectProperty acquired by or through this Lease, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, if Tenant shall be deemed to be adjudged a bankrupt or insolvent, or Tenant shall make an assignment for the benefit of creditors, or if Tenant shall file a voluntary petition in uncured default hereunderbankruptcy or shall petition for or enter into an arrangement or reorganization, composition or any other arrangement with Tenant's creditors under any federal or state law now or hereafter enacted; then, Landlord may treat the occurrence of such event as a breach of this Lease and Landlord shall have the rightthereupon at its option may, but shall not be obligated, at exercise any time thereafter, to exercise one or more of the following described remedies, in addition to all other rights and remedies (which remedies need not be used exclusively):provided to Landlord, whether at law, in equity, or otherwise:

Appears in 1 contract

Samples: Execution Copy (Southwest Iowa Renewable Energy, LLC)

Default and Termination. 23.1 In the event the Lessee shall default in any of the amounts due to the Lessor as set forth in this Agreement or in the observance of any of the covenants, agreements, commitments or conditions herein contained or any such default shall continue un-remedied for a period of 30 days after written notice thereof to Lessee, or (a) Lessee shall make an assignment of its property for the benefit of creditors, or (b) Lessee shall petition a court to be adjudged a bankrupt, or (c) if a petition in bankruptcy shall be filed in any court against Lessee for more than 30 days, or (d) if Lessee shall be judicially determined to be insolvent, or (e) Lessee shall be adjudged a bankrupt, or (f) if a receiver or other officer shall be appointed to take charge of the whole or any part of Lessee’s property or to wind up or liquidate its affairs, or (g) if Lessee shall seek a reorganization under any of the terms of the National Bankruptcy Act, as amended, or under any other insolvency law, or (h) Lessee shall admit in writing its inability to pay its debts as they become due, or (i) if any final period of 30 days from the date on which it becomes final, or (j) if Lessee shall abandon the Leased Premises, the Lessor may, at its option and in addition to all other rights and remedies which it may have at law or in equity against Lessee, including expressly the specific enforcement hereof, forthwith have the cumulative rights to immediately terminate this Agreement and all rights of the Lessee hereunder. Further, in the event of lapse of insurance policies or coverage and protection as required by this Agreement, the Lessor may, with a 15-day notice to the Lessee, declare this Agreement terminated. Lessee shall have no access rights to or use of the Leased Premises unless all insurance policies required by this Agreement are in full force and effect. In the event of any failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default termination of this Lease, by delivering to Tenant notice of such Agreement for default, Lessee may make no claim for compensation for improvements and the Lessor shall retain title and ownership of said Leased Premises, together with all buildings and improvements thereon, without any payment whatsoever to Lessee. No improvements, buildings or fixtures shall be removed from the Leased Premises during the term of this lease or any renewal period of this lease without the written consent of the Lessor, except any equipment or trade fixtures of Lessee which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object Lessee lawfully removes prior to the amount so paid at a later date; and (ii) in the case termination of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any of the Related Agreements. Notwithstanding anything to the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, to exercise the following remedies (which remedies need not be used exclusively):lease.

Appears in 1 contract

Samples: Property Lease Agreement

Default and Termination. 23.1 In the event the Lessee shall default in any of the amounts due to the Lessor as set forth in this Agreement or in the observance of any failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Leasethe covenants, such action shall constitute a default by Tenant under this Lease. Upon agreements, commitments or conditions herein contained or any such failure default shall continue un-remedied for a period of compliance by Tenant with any of its obligations 30 days after written notice thereof to Landlord as provided for in this LeaseLessee, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within or (a) five (5) days following Lessee shall make an assignment of its property for the effective date benefit of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; creditors, or (b) ten (10) days following the date of any Default Notice in the case of any default for failure Lessee shall petition a court to initially open for business in the Premises in accordance with this Lease; and be adjudged a bankrupt, or (c) if a petition in all bankruptcy shall be filed in any court against Lessee for more than 30 days, or (d) if Lessee shall be judicially determined to be insolvent, or (e) Lessee shall be adjudged a bankrupt, or (f) if a receiver or other casesofficer shall be appointed to take charge of the whole or any part of Lessee’s property or to wind up or liquidate its affairs, within twenty or (20g) days following if Lessee shall seek a reorganization under any of the effective date terms of the National Bankruptcy Act, as amended, or under any Default Notice other insolvency law, or (sometimes hereinafter "Non-Monetary Default Cure Period")h) Lessee shall admit in writing its inability to pay its debts as they become due, Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, or (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion final period of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated 30 days from the date on which it becomes final, or (j) if Lessee shall abandon the original payment was due until paid. Notwithstanding Property, the foregoingLessor may, if Tenant fails at its option and in addition to effect any required cure as provided for herein within all other rights and remedies which it may have at law or in equity against Xxxxxx, including expressly the applicable cure periodspecific enforcement hereof, Landlord shall also forthwith have the rightcumulative rights to immediately terminate this Agreement and all rights of the Lessee hereunder. Further, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergencylapse of insurance policies or coverage and protection as required by this Agreement, in which case Landlord the Lessor may, with a 15-day notice to the Lessee, declare this Agreement terminated. Lessee shall not be obligated have no access rights to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any or use of the Related Agreements. Notwithstanding anything to the contrary contained herein, if Property unless all insurance policies required by this Agreement are in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, full force and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, to exercise the following remedies (which remedies need not be used exclusively):effect.

Appears in 1 contract

Samples: Property Lease Agreement

Default and Termination. 23.1 In the event CLIENT may terminate this Agreement upon a material breach of any failure of compliance this Agreement by Tenant with any of its obligations ACCESS, provided CLIENT first gives ACCESS written notice specifying such material breach and ACCESS fails to Landlord as provided for in this Lease, cure such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligationbreach, to declare Tenant in default the extent possible, within ninety (90) days of this Lease, by delivering to Tenant notice delivery of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the samenotice. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, If CLIENT fails to pay any amount that Landlord alleges to be due hereunder when due, or otherwise materially breaches this Agreement and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any such other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord breach within thirty (30) days after receipt of Landlord's xxxxnotice of such other breach, Landlord ACCESS, at its option, may deduct terminate this Agreement upon written notice and seek recovery of damages resulting from CLIENT’s nonpayment or other breach, and exercise any or all of the reasonable cost incurred from following remedies without terminating this Agreement: (A) if any amounts owed by CLIENT are outstanding for forty-five (45) days or more past the invoice date, ACCESS may either (i) redeliver CLIENT’s Records to CLIENT at its address herein (for which permanent removal, delivery, preparation of inventory reports, data extraction and all amounts due from Landlord other charges will apply pursuant to the Price Schedule), or (ii) refuse or suspend access to Services, Deliverables, and Records until all outstanding invoice(s) are paid in full. If Services are suspended, CLIENT will remain responsible for payment of all charges accruing during such suspension; (B) if CLIENT is in arrears in its payment obligations for a period of six (6) months or longer past any invoice date, ACCESS may destroy the Records at CLIENT’s expense and without liability to CLIENT following thirty (30) business days advance written notice of such destruction by certified mail addressed to CLIENT at the Related Agreements. Notwithstanding anything to the contrary contained address herein, and/or (C) exercise such other rights and remedies as may be allowed at law or in equity as if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall specific remedies were not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenantprovided. In the event Tenant fails ACCESS takes any actions in accordance with this Paragraph it shall have no liability to effect CLIENT, and CLIENT hereby will release, indemnify and hold harmless ACCESS from any required cure as Costs arising from or relating to any actions taken by ACCESS in accordance with this Paragraph, including the disposal or destruction of any materials. All remedies provided for hereinin this Agreement are cumulative and may, Tenant at the election of ACCESS, be exercised alternatively, successively or in any other manner. ACCESS shall be deemed entitled to its reasonable attorneys’ fees, whether or not any litigation or other action is commenced, in the event of any breach by CLIENT of this Agreement. With respect to ACCESS’ right to dispose of the Records under 8(B) above, CLIENT acknowledges that, because the Records have minimal or no value to a third party and Confidential Information (defined below) may be in uncured default hereunderunlawfully exposed, the sale of the Records would not be reasonably possible, and Landlord shall have the right, but shall not be obligated, at any time thereafter, disposal of the Records is the only reasonable way for ACCESS to exercise the following remedies (which remedies need not be used exclusively):mitigate its damages.

Appears in 1 contract

Samples: Master Agreement

Default and Termination. 23.1 In If the event rent or other monetary payment referred to herein, or any part thereof, whether the same be demanded or not, shall remain unpaid for a period of any failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following from the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys when due and unpaid to Landlord hereunder; (b) ten (10) days following or if any other term, condition or covenant of this Sublease, express or implied on the date part of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges Sublessee to be due and owing under protestkept or performed, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Periodshall be violated or neglected, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord Sublessee shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, fail to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord same within thirty (30) days after receipt from the date of Landlord's xxxxwritten notice from Sublessor to Sublessee specifying the violation; or if the Leased Premises or Sublessee’s interest therein shall be taken on execution or other process of law; or in the event of the bankruptcy, Landlord may deduct receivership, insolvency, liquidation, dissolution or similar proceedings with respect to the reasonable cost incurred from Sublessee, or if Sublessee shall enter into a general assignment for the benefit of creditors; or if any and all amounts due from Landlord pursuant default under the Lease shall occur with respect to the Sublessee or the performance by the Sublessee of any of its covenants and obligations under the Related Agreements. Notwithstanding anything Sublease, then and in any of said cases, Sublessee shall be deemed in DEFAULT, and Sublessor shall have the following rights and remedies against Sublessee (in addition to all other rights and remedies provided by law or in equity): to (i) terminate this Sublease, (ii) to cure or attempt to cure the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion whereupon Sublessee shall within ten (10) days of demand from Sublessor, reimburse Sublessor for all reasonable costs thus reasonably expended, and (iii) to re-enter and take possession of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of LandlordLeased Premises, and its existence shall not release Tenant from its to remove any property therein, without liability for damage to, and without the obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord store such property but may have by reason of any such default by Tenantstore same at Sublessee’s expense. In the event Tenant fails of such re-entry, Sublessor may re-let the Leased Premises, or any part thereof, from time to effect any required cure time, in the name of the Sublessor or Sublessee, without further notice, for such term or terms, on such conditions and for such uses and purposes as provided for hereinSublessor, Tenant shall be deemed in its sole discretion, may determine, and Sublessor may collect and receive all rents derived therefrom and apply the same, after deduction of all appropriate expenses (including broker’s, consultant’s and attorneys’ fees, if incurred, and the expenses of putting the property in leasable condition), to be in uncured default the payment of the rent and other sums payable hereunder, and Landlord shall have the right, but Sublessor remaining liable for any deficiency. Sublessor shall not be obligatedliable or responsible for any failure to re-let the Leased Premises or any part thereof, or for failure to collect any rent connected therewith. The exercise by Sublessor of any remedy shall not preclude any subsequent or simultaneous exercise of any other remedy. If Sublessor fails to perform any of its obligations under this Sublease, including without limitation, Sublessor’s obligation (i) to maintain the Leased Premises in accordance with the Lease and Section 7 hereof, (ii) to pay all Tax Expense in accordance with the Lease and Section 9 hereof, and (iii) to pay all Insurance Expense in accordance with the Lease and Section 10 hereof, then in any such case, Sublessee may perform such obligation, and in addition to any other remedy Sublessee may have at law or under this Sublease, Sublessee shall be entitled to offset the cost thereof from its future rental obligations to Sublessor hereunder. The foregoing shall not in any time thereafter, to exercise the following remedies (which remedies need not event be used exclusively):deemed a waiver by Sublessee of Sublessor’s obligations hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Hot Mamas Foods, Inc.)

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Default and Termination. 23.1 In the event of 1) If Lessee shall neglect or fail to make any failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the rental payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt its due date provided that Lessee is given a reasonable opportunity to cure such default, or if Lessee shall fail to cure (or to commence to cure) a default in the performance of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any of the Related Agreements. Notwithstanding anything to the contrary contained herein, if in Landlordother of Lessee's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion covenants within thirty (30) days after date of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion notice of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by TenantLessor, or if Lessee, having commenced to cure a default within the thirty (30) days period, shall fail to complete the curing of the default without unreasonable delay, Lessor lawfully may immediately or any time thereafter terminate this agreement. In Lessor shall have all rights described herein and this Lease shall also terminate if (i) the event Tenant fails to effect leasehold hereby created xxxXx be taken on execution or by other process of law, (ii) any required cure as provided assignment xxxXx be made of Lessee's property for hereinthe benefit of creditors, Tenant (iii) a receiver, guardian, conservator, trustee in bankruptcy or similar officer shall be deemed appointed by a court of competent jurisdiction to be in uncured default hereundertake charge of all or part of Lessee's property, or (iv) Lessee commits any act of bankruptcy, or if a petition is filed by Lessee under any bankruptcy or insolvency law and Landlord shall have the right, but same shall not be obligateddismissed within thirty (30) days from the date upon which it is filed. Lessee covenants that if the Lease is terminated, Lessee shall be liable to Lessor for payment of a sum equal to the amount of the rent and other payments called for hereunder for the remainder of the original term and any extensions thereof, less any amounts received by Lessor as a result of Lessor's lease of the Lessee's Quarters to a third party. Lessor shall make reasonable efforts to lease the Lessee's Quarters at any time thereafterrent equal to the prevailing local raze. In addition, to exercise the following remedies (which remedies need Lessee shall pay Lessor's expenses, including, but not be used exclusively):limited to, court costs and

Appears in 1 contract

Samples: Lease Agreement (Unity First Acquisition Corp)

Default and Termination. 23.1 In the event Comcast breaches any material representation, covenant or obligation of Comcast hereunder or Comcast becomes insolvent, or a petition under any failure of compliance bankruptcy act shall be filed by Tenant with any of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, or against Comcast (which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaultspetition, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Periodfiled against Comcast, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have been dismissed within sixty (60) days thereafter), or Comcast executes an assignment for the right benefit of creditors, or a receiver is appointed for the assets of Comcast, or Comcast takes advantage of any applicable insolvency or reorganization or any other like statute (each of the above acts is hereinafter referred to exercise Landlord's termination rights granted herein as a result “Comcast Event of any such defaultDefault”), and, if Tenant commences cure within the Non-Monetary such Comcast Event of Default Cure Period and thereafter diligently and continuously pursues cure to completion is capable of performance. To be effectivecure, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant Comcast fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies such Comcast Event of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord Default within thirty (30) days after receipt delivery by Studio to Comcast of Landlord's xxxxwritten notice of such Comcast Event of Default, Landlord may deduct the reasonable cost incurred from then Studio may, in addition to any and all amounts due from Landlord pursuant other rights which it may have against Comcast, immediately terminate this Agreement. In the event Studio breaches any material representation, covenant or obligation of Studio hereunder or Studio becomes insolvent, or a petition under any bankruptcy act shall be filed by or against Studio (which petition, if filed against Studio, shall not have been dismissed within sixty (60) days thereafter), or Studio executes an assignment for the benefit of creditors, or a receiver is appointed for the assets of Studio, or Studio takes advantage of any applicable insolvency or reorganization or any other like statute (each of the above acts is hereinafter referred to as a “Studio Event of Default”), and, if such Studio Event of Default is capable of cure, Studio fails to cure such Studio Event of Default within thirty (30) days after delivery by Comcast to Studio of written notice of such Studio Event of Default, then Comcast may, in addition to any of the Related Agreementsand all other rights which it may have against Studio, immediately terminate this Agreement. Notwithstanding anything to the contrary contained hereinin this Agreement, if in Landlord's reasonable judgmentno termination of this Agreement for any reason shall relieve or discharge, an emergency posing imminent harm to persons or Landlord's Property be deemed or the Project shall exist resulting construed as relieving or discharging, any party hereto from a Tenant defaultany duty, Landlord may cure such default in the Premises obligation or any portion liability hereunder which was accrued as of the Project whichdate of such termination (including, in Landlord's reasonable discretionwithout limitation, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord pay any amounts payable hereunder accrued as of or otherwise modify, alter or affect any legal rights which Landlord may have by reason such date of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, to exercise the following remedies (which remedies need not be used exclusively):termination).

Appears in 1 contract

Samples: Home Entertainment License Agreement

Default and Termination. 23.1 If Tenant breaches this Agreement or abandons the Premises prior to the natural expiration of the term of this Agreement, then City may continue this Agreement in effect by not terminating Tenant's right to possession of the Premises in which case City shall be entitled to enforce all City's rights and remedies under this Agreement including the right to recover rent as it becomes due. If Tenant defaults in performance of any covenant, condition, or agreement contained in this Agreement and the default is not cured within 10 days after written notice by City, then City may terminate this Agreement and bring an action to recover from Tenant the worth at time of award of unpaid rent which had been earned at the time of termination of the Agreement, all amounts necessary to compensate City for all detriment proximately caused by Tenant's failure to perform Tenant's obligations under this Agreement, and such other sums as permitted by law. City may also bring an action, in addition to or in lieu of the foregoing, to reenter and regain possession of the Premises in the manner provided by the laws of California. If Tenant becomes insolvent, then City may, by giving 30-days’ written notice to Tenant, terminate this Agreement and forfeit Tenant's interest in the Premises and in any improvements or facilities in, on or appertaining to the Premises. For purposes of this section, Tenant shall be conclusively presumed to have become insolvent if Tenant has a receiver appointed to take possession of all or substantially all of Tenant's property because of insolvency; makes a general assignment for the benefit of creditors; or allows any judgment against Tenant to remain unsatisfied and unbonded for 30 days or longer. Tenant specifically agrees to take all necessary measures during the term of this Agreement to eliminate and xxxxx any adverse effects of Tenant's operations upon residential and/or other property in the vicinity, including without limitation noise, odor, etc. In the event of City's receipt of complaints from any failure person regarding Tenant's operations hereunder, Tenant agrees to cooperate fully with City to promptly and effectively remove or satisfactorily reduce the noise or other aspect of compliance Tenant's business operations giving rise to the complaint. If such corrective actions by Tenant fail to resolve the problem within five days and complaints continue to be lodged with any of its obligations to Landlord as provided for in this LeaseCity, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this LeaseCity may, by delivering giving ten days written notice to Tenant notice of such defaultTenant, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due terminate this Agreement and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business forfeit Tenant's interest in the Premises and in accordance with any improvements or facilities on, in, or appertaining to the Premises. If prior to the termination of this Lease; and (c) in all other casesAgreement, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period")pursuant to its terms, Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured ceases conducting business at the conclusion Premises, then this Agreement shall terminate upon Tenant’s removal of all its materials stored at the Premises and Tenant’s abandonment of the Non-Monetary Default Cure PeriodPremises; provided, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing has given City six- months’ written notice of such intention Tenant’s intent to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any of the Related Agreements. Notwithstanding anything to the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlordcease operations at, and remove all its existence shall not release Tenant materials from its obligation to perform and vacate the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, to exercise the following remedies (which remedies need not be used exclusively):Premises.

Appears in 1 contract

Samples: Lease Agreement

Default and Termination. 23.1 In the event Comcast breaches any material representation, covenant or obligation of Comcast hereunder or Comcast becomes insolvent, or a petition under any failure of compliance bankruptcy act shall be filed by Tenant with any of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, or against Comcast (which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaultspetition, if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Periodfiled against Comcast, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have been dismissed within sixty (60) days thereafter), or Comcast executes an assignment for the right benefit of creditors, or a receiver is appointed for the assets of Comcast, or Comcast takes advantage of any applicable insolvency or reorganization or any other like statute (each of the above acts is hereinafter referred to exercise Landlord's termination rights granted herein as a result “Comcast Event of any such defaultDefault”), and, if Tenant commences cure within the Non-Monetary such Comcast Event of Default Cure Period and thereafter diligently and continuously pursues cure to completion is capable of performance. To be effectivecure, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant Comcast fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies such Comcast Event of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord Default within thirty (30) days after receipt delivery by Studio to Comcast of Landlord's xxxxwritten notice of such Comcast Event of Default, Landlord may deduct the reasonable cost incurred from then Studio may, in addition to any and all amounts due from Landlord pursuant other rights which it may have against Comcast, immediately terminate this Agreement and require Comcast to accelerate the payment of all monies payable under this Agreement such that they are payable immediately. In the event Studio breaches any material representation, covenant or obligation of Studio hereunder or Studio becomes insolvent, or a petition under any bankruptcy act shall be filed by or against Studio (which petition, if filed against Studio, shall not have been dismissed within sixty (60) days thereafter), or Studio executes an assignment for the benefit of creditors, or a receiver is appointed for the assets of Studio, or Studio takes advantage of any applicable insolvency or reorganization or any other like statute (each of the above acts is hereinafter referred to as a “Studio Event of Default”), and, if such Studio Event of Default is capable of cure, Studio fails to cure such Studio Event of Default within thirty (30) days after delivery by Comcast to Studio of written notice of such Studio Event of Default, then Comcast may, in addition to any of the Related Agreementsand all other rights which it may have against Studio, immediately terminate this Agreement. Notwithstanding anything to the contrary contained hereinin this Agreement, if in Landlord's reasonable judgmentno termination of this Agreement for any reason shall relieve or discharge, an emergency posing imminent harm to persons or Landlord's Property be deemed or the Project shall exist resulting construed as relieving or discharging, any party hereto from a Tenant defaultany duty, Landlord may cure such default in the Premises obligation or any portion liability hereunder which was accrued as of the Project whichdate of such termination (including, in Landlord's reasonable discretionwithout limitation, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord pay any amounts payable hereunder accrued as of or otherwise modify, alter or affect any legal rights which Landlord may have by reason such date of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, to exercise the following remedies (which remedies need not be used exclusively):termination).

Appears in 1 contract

Samples: Digital Home Entertainment License Agreement

Default and Termination. 23.1 In the event the Lessee shall default in any of the amounts due to the Lessor as set forth in this Agreement or in the observance of any failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Leasethe covenants, such action shall constitute a default by Tenant under this Lease. Upon agreements, commitments or conditions herein contained or any such failure default shall continue un-remedied for a period of compliance by Tenant with any of its obligations 30 days after written notice thereof to Landlord as provided for in this LeaseLessee, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within or (a) five (5) days following Lessee shall make an assignment of its property for the effective date benefit of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case of any default involving the payment of moneys due and unpaid to Landlord hereunder; creditors, or (b) ten (10) days following the date of any Default Notice in the case of any default for failure Lessee shall petition a court to initially open for business in the Premises in accordance with this Lease; and be adjudged a bankrupt, or (c) if a petition in all bankruptcy shall be filed in any court against Lessee for more than 30 days, or (d) if Lessee shall be judicially determined to be insolvent, or (e) Lessee shall be adjudged a bankrupt, or (f) if a receiver or other casesofficer shall be appointed to take charge of the whole or any part of Lessee’s property or to wind up or liquidate its affairs, within twenty or (20g) days following if Lessee shall seek a reorganization under any of the effective date terms of the National Bankruptcy Act, as amended, or under any Default Notice other insolvency law, or (sometimes hereinafter "Non-Monetary Default Cure Period")h) Lessee shall admit in writing its inability to pay its debts as they become due, Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, or (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, if any such default by Tenant remains uncured at the conclusion final period of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated 30 days from the date on which it becomes final, or (j) if Lessee shall abandon the original payment was due until paid. Notwithstanding Property, the foregoingLessor may, if Tenant fails at its option and in addition to effect any required cure as provided for herein within all other rights and remedies which it may have at law or in equity against Lessee, including expressly the applicable cure periodspecific enforcement hereof, Landlord shall also forthwith have the rightcumulative rights to immediately terminate this Agreement and all rights of the Lessee hereunder. Further, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergencylapse of insurance policies or coverage and protection as required by this Agreement, in which case Landlord the Lessor may, with a 15-day notice to the Lessee, declare this Agreement terminated. Lessee shall not be obligated have no access rights to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any or use of the Related Agreements. Notwithstanding anything to the contrary contained herein, if Property unless all insurance policies required by this Agreement are in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, full force and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, to exercise the following remedies (which remedies need not be used exclusively):effect.

Appears in 1 contract

Samples: Property Lease Agreement

Default and Termination. 23.1 In the event addition to all other rights of termination as herein provided, both Customer and Opticom shall have a right to terminate this Agreement by reason of any failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, such action shall constitute a material default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following the effective date of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in the case performance of any default involving duties and responsibilities by the payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and (ii) in the case of non-monetary defaults, party if any such default by Tenant remains uncured at the conclusion of the Non-Monetary Default Cure Period, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have the right to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord cured within thirty (30) days after receipt written notice of Landlordsuch default is given to the defaulting party. Other than for (i) obligations for the payment of money or commissions due pursuant to this Agreement, (ii) indemnity obligations which are expressly provided for in this Agreement, (iii) confidentiality obligations under Section 5 of this Agreement, and (iv) amounts or damages (liquidated or otherwise) for which either party is liable pursuant to the terms and provisions of any addendum to this Agreement, any loan agreement between the parties, or any other agreement which supplements this Agreement (all of which obligations shall survive termination of this Agreement), neither party hereto shall have any liability to the other party for any direct, indirect, incidental, consequential, punitive or other damages sustained by a party by reason of the default of the other party under this Agreement, it being agreed that termination of this Agreement shall be the sole recourse and remedy of a non-defaulting party for the default of the other party. In the event (i) this Agreement is terminated by Opticom for any reason, (ii) this Agreement terminates at the end of any term by reason of the election of either party not to permit this Agreement to renew for another term, or (iii) Opticom elects to terminate Operator Services for any Location of Customer for any reason, Customer shall be responsible for diligently and timely changing, prior to the effective date of any such termination, the preferred interconnection carrier from Opticom to another operator services provider for all Locations of Customer affected by any such termination. If Customer fails to change the preferred interconnection carrier for any Location prior to the effective date of the termination of this Agreement or termination by Opticom of such Location(s) and such Location(s) remains on Opticom's xxxxOperator Services network after the effective date of termination, Landlord may deduct no commissions or property surcharges will be payable to Customer for any Operator Services provided by Opticom for such Location after the reasonable cost incurred effective date of the termination. As to all Locations of Customer which remain on Opticom's Operator Services network following termination of this Agreement or termination by Opticom of such Location(s), Customer agrees to and shall indemnify, defend, and hold Opticom harmless of and from any and all amounts due from Landlord pursuant to any of the Related Agreements. Notwithstanding anything to the contrary contained hereinclaims, if in Landlord's liabilities, fines, penalties, or other costs and expenses, including reasonable judgmentattorney fees, an emergency posing imminent harm to persons incurred or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of Landlord, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed paid by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have Opticom by reason of the Customer's failure (i) to change the preferred interconnection carrier for such Location(s) or (ii) to comply with any applicable federal or state laws, rules, regulations, tariffs, dockets, laws, ordinances, orders, or guidelines or other regulatory requirements applicable to Customer and such default by Tenant. In the event Tenant fails to effect any required cure as provided for hereinLocations, Tenant Customer expressly agreeing that this indemnity obligation shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, to exercise the following remedies (which remedies need not be used exclusively):survive termination of this Agreement.

Appears in 1 contract

Samples: Operator Services Agreement (Phonetel Technologies Inc)

Default and Termination. 23.1 In the event of any failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this Lease, Landlord shall have the right, but not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant notice of such default, which notice (a "Tenant Default Notice") shall state in reasonable detail the actions Tenant must take to cure the same. Within (a) five (5) days following Sublessee covenants and agrees that in the effective date event that it shall default in the performance of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") in of the case terms, covenants and conditions of any default involving this Sublease or of the payment of moneys due and unpaid to Landlord hereunder; (b) ten (10) days following Lease, including without limitation, the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, failure by Sublessee to pay to Sublessor any amount that Landlord alleges sums payable pursuant to be Section 3 of this Sublease as and when such sums are due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; payable and (ii) in the case occurrence of non-monetary defaults, if any such a default by Tenant remains uncured at the conclusion under Article 27 of the Non-Monetary Default Cure PeriodLease, and if the nature of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord Sublessor shall not have the right be entitled to exercise Landlord's termination rights granted herein as a result of any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred from any and all amounts due from Landlord pursuant to any of the Related Agreementsrights and remedies to which it is entitled by law, including, without limitation, the remedy of summary proceeding, and also any and all of the rights and remedies specifically provided to the Landlord in the Lease, which are hereby incorporated herein and made a part hereof, with the same force and effect as if herein specifically set forth in full, and that wherever in the Lease rights and remedies are given to the Landlord therein named, the same shall be deemed to refer to Sublessor. Notwithstanding In addition, and notwithstanding anything to the contrary contained hereinin the Lease or this Sublease, if wherever in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property Article 27 of the Lease a default thereunder is conditioned upon the passage of time or the Project giving of notice, or both, the Sublessee shall exist resulting from a Tenant default, Landlord may have five fewer days to cure such default than as stated in the Premises or any portion Lease. By way of example and not limitation, if a default under the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, Lease is deemed to have occurred 30 days after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of LandlordSublessor, and its existence shall not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such a default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafter, occurred under this Sublease 25 days after Sublessor provides notice thereof to exercise the following remedies (which remedies need not be used exclusively):Sublessee.

Appears in 1 contract

Samples: Sublease Agreement (General Chemical Industrial Products Inc)

Default and Termination. 23.1 In This License will run coterminous with the event MOU, and will automatically terminate upon the expiration or earlier termination of any failure the MOU. If either party is in default of compliance by Tenant with the performance of any of its obligations to Landlord as provided for in this Lease, such action shall constitute a default by Tenant under this Lease. Upon any such failure of compliance by Tenant with any of its obligations to Landlord as provided for in this LeaseLicense, Landlord shall have then the right, but party not the obligation, to declare Tenant in default of this Lease, by delivering to Tenant will give written notice of such default to the other party and, if, within 30 days i) the party notified fails to correct the default or ii) fails to satisfy the party giving notice that the default does not exist, then the party giving notice may terminate this License upon the expiration of the 30-day period and seek all remedies now or hereafter provided by law for recovery of damages caused by the other party’s default. In addition to the Board’s right to terminate as specified in Section 7.2, which notice the Board will have the right to terminate this License immediately upon the occurrence of one or more of the following events: (i) the filing by or against Foundation in a "Tenant Default Notice") shall state court of competent jurisdiction of a petition for relief in reasonable detail bankruptcy, whether voluntary or involuntary, for either adjudication of bankruptcy or for reorganization or rearrangement under the actions Tenant must take to cure bankruptcy laws, or the same. Within (a) five (5) days following the effective date filing of an action for receivership of any Default Notice (sometimes hereinafter "Monetary Default Cure Period") nature, and in the case of any default involving the payment of moneys due and unpaid to Landlord hereunderan involuntary bankruptcy filed against Foundation, such filing has not been dismissed within 120 days after filing; (b) ten (10) days following the date of any Default Notice in the case of any default for failure to initially open for business in the Premises in accordance with this Lease; and (c) in all other cases, within twenty (20) days following the effective date of any Default Notice (sometimes hereinafter "Non-Monetary Default Cure Period"), Tenant shall have the right to effect cure of such defaults within the applicable cure period referenced above. Notwithstanding anything herein contained, (i) Tenant reserves the right, during any Monetary Default Cure Period, but does not have the obligation, to pay any amount that Landlord alleges to be due and owing under protest, thereby reserving Tenant's right to object to the amount so paid at a later date; and or (ii) an assignment for the benefit of Foundation’s creditors. Ownership of Trademarks. Foundation acknowledges the Board's exclusive right, title and interest in and to the Trademarks and any registrations that have issued or may issue thereon, and Foundation will not at any time do or cause to be done any act or thing contesting or in any way impairing or tending to impair part of such right, title and interest. In connection with the use of the Trademarks, Foundation will not in any manner represent that it has any ownership in the case of non-monetary defaultsTrademarks or registrations thereof, if any such default by Tenant remains uncured at the conclusion and Foundation acknowledges that its use of the Non-Monetary Default Cure Period, and if Trademarks will inure to the nature benefit of Tenant's obligations are such that more time than the Non-Monetary Default Cure Period is required to effect cure, then Landlord shall not have Board. Upon the right to exercise Landlord's expiration or earlier termination rights granted herein as a result of this License in any such default, if Tenant commences cure within the Non-Monetary Default Cure Period and thereafter diligently and continuously pursues cure to completion of performance. To be effective, any cure involving the payment of moneys shall include the payment of Interest calculated from the date the original payment was due until paid. Notwithstanding the foregoing, if Tenant fails to effect any required cure as provided for herein within the applicable cure period, Landlord shall also have the right, at Landlord's sole option, and without prejudice to any other rights or remedies of Landlord manner provided herein, to cure any such default if the subject matter thereof is non-monetary by providing written notice of such intention to Tenant (except in the event of an uncured default which constitutes an emergency, in which case Landlord shall not be obligated to provide notice). If Tenant has not reimbursed Landlord within thirty (30) days after receipt of Landlord's xxxx, Landlord may deduct the reasonable cost incurred Foundation will immediately cease and desist from any and all amounts due from Landlord pursuant to any use of the Related Agreements. Notwithstanding anything to the contrary contained herein, if in Landlord's reasonable judgment, an emergency posing imminent harm to persons or Landlord's Property or the Project shall exist resulting from a Tenant default, Landlord may cure such default in the Premises or any portion of the Project which, in Landlord's reasonable discretion, affects the Premises or any portion of the Project, after providing oral notice to Tenant. The self-help option given in this Section is for the sole protection of LandlordTrademarks, and its existence shall Foundation will, at Board’s request, execute a recordable document releasing all of Foundation’s rights under this License. Foundation will not release Tenant from its obligation to perform the terms, provisions, covenants and conditions herein provided to be performed by Tenant or deprive Landlord of or otherwise modify, alter or affect any legal rights which Landlord may have by reason of any such default by Tenant. In the event Tenant fails to effect any required cure as provided for herein, Tenant shall be deemed to be in uncured default hereunder, and Landlord shall have the right, but shall not be obligated, at any time thereafteradopt or use, without the Board's prior written consent, any word or xxxx that is likely to exercise be similar to or confusing with the following remedies (Trademarks. Approvals from the Board. Except as otherwise specified in this License, in every circumstance in which remedies need not be used exclusively):an approval or consent from the Board is required under this License, Foundation must obtain that approval or consent from the Director, Trademark Licensing, or the successor in function.

Appears in 1 contract

Samples: Trademark License Agreement

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