Common use of Default by Lessor Clause in Contracts

Default by Lessor. 23.1 If during the term of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 days after Lessee gives Lessor notice thereof, or if such failure cannot be remedied within 30 days, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day period and prosecutes the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed a waiver by Lessee of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor in any covenant, agreement or obligation under this lease shall operate to waive or affect any subsequent Lessor Event of Default or default in any covenant, agreement or obligation hereunder, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver of any of its rights and remedies with respect to such or any subsequent default or in any other manner operate to the prejudice of Lessee.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Default by Lessor. 23.1 If during the term of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail not be in default in the performance of any obligation required to be performed under this Lease unless Lessor has failed to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 obligation within thirty (30) days after the receipt of notice from Lessee gives Lessor notice thereofspecifying in detail Lessor's failure to perform; provided, or however, that if the nature of Lessor's obligation is such failure cannot be remedied within 30 daysthat more than thirty (30) days are required for its performance, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day period and prosecutes the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed in default if it shall commence such performance within thirty (30) days and thereafter diligently pursue the same to completion. Lessee shall have no rights as a waiver by Lessee result of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor until Lessee also gives thirty (30) days' notice to any person who has a recorded interest pertaining to the Building or the Property, specifying the nature of the default. Such person shall then have the right to cure such default, and Lessor shall not be deemed in default if such person cures such default within thirty (30) days after receipt of notice of the default, or within such longer period of time as may reasonably be necessary to cure the default. If Lessor or such person does not cure the default, Lessee may exercise such rights or remedies as shall be provided or permitted by law to recover any covenantdamages proximately caused by such default. Notwithstanding anything to the contrary contained in this Lease, agreement or obligation under this lease shall operate to waive or affect Lessee's remedy for any subsequent Lessor Event of Default breach or default of this Lease by Lessor shall be limited to an action for damages. Lessee agrees that, in the event that it becomes entitled to receive damages from Lessor, Lessee shall not be allowed to recover from Lessor consequential damages or damages in excess of the out-of-pocket expenditures incurred by Lessee as a result of a default by Lessor. In any covenantevent, agreement or obligation hereunderit is expressly understood and agreed that notwithstanding anything in this Lease to the contrary, and notwithstanding any applicable law to the contrary, the liability of Lessor hereunder (including any successor lessor) and any recourse by Lessee against Lessor shall be limited solely and exclusively to the interest of Lessor in and to the Property and Building, and neither Lessor, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver of any of its constituent partners, shall have any personal liability therefor, and Lessee hereby expressly waives and releases such personal liability on behalf of itself and all persons claiming by, through or under Lessee. Lessee hereby waives and relinquishes any right which Lessee may have to terminate this Lease or withhold any payment owed by Lessee under this Lease, on account of any damage, condemnation, destruction or state of disrepair of the Premises (including, without limiting the generality of the foregoing, those rights under California Civil Code Sections 1941, 1941.1 and remedies with respect to such or any subsequent default or in any other manner operate to the prejudice of Lessee1942).

Appears in 2 contracts

Sources: Lease Agreement (Advanced Communications Technologies Inc), Lease Agreement (Advanced Communications Technologies Inc)

Default by Lessor. 23.1 If during the term of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 days after Lessee gives Lessor notice thereof, or if such failure cannot be remedied within 30 days, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day period and prosecutes the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed a waiver to be in default in the performance of any obligation required to be performed under this Lease unless Lessor has failed to perform such obligation within thirty (30) days after the receipt of written notice from Lessee specifying in detail Lessor's failure to perform; provided, however, that if the nature of Lessor's obligation is such that more than thirty (30) days are required for its performance, then Lessor shall not be deemed in default if it shall commence such performance within thirty (30) days and thereafter diligently pursue the same to completion. If Lessor does not cure the default, Lessee may exercise such rights or remedies as shall be provided or permitted under this Lease and by Lessee of law to recover any damages proximately caused by such default. No waiver Notwithstanding anything to the contrary contained in this Lease, Lessee's remedy for any breach or default of this Lease by Lessor shall be limited to an action for damages. Lessee agrees that, in the event that it becomes entitled to receive damages from Lessor, Lessee shall not be allowed to recover from Lessor consequential damages or damages in excess of the out-of-pocket expenditures incurred by Lessee as a result of a default by Lessor. In any event, Lessor's liability to Lessee for damages resulting from Lessor's breach of any Lessor Event provision or provisions of Default this Lease shall not exceed Lessor's equity interest in the Building and Lessee shall look solely to Lessor's estate in the Building for collection. Lessee hereby waives and relinquishes any right which Lessee may have to terminate this Lease or withhold any default by Lessor in any covenantpayment owed, agreement or obligation under this lease shall operate to waive or affect any subsequent Lessor Event of Default or default in any covenant, agreement or obligation hereunder, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver on account of any damage, condemnation, destruction or state of its rights and remedies with respect to such or any subsequent default or in any other manner operate to disrepair of the prejudice of LesseePremises.

Appears in 1 contract

Sources: Office Lease (Pharmacy Buying Association Inc)

Default by Lessor. 23.1 If during the term of this lease there Lessor shall occur any of the following events (“Lessor Events of Default”): (a) be in default hereunder if Lessor shall fail to observe or perform or observe any requirement, obligation, agreementterm, covenant or condition of this lease, Lease on its part to be performed and any such failure shall continue for a period of 30 days after Lessee gives Lessor written notice thereofthereof from Lessee, or if unless such failure cannot with due diligence be remedied cured within a period of 30 days, then in which case such failure shall not be deemed to continue if Lessor, within said 30-day period, proceeds promptly and with due diligence to cure the failure and diligently completes the curing thereof. The time within which Lessor shall be obligated to cure any default of its obligations under this Lease shall also be subject to extension of time due to the occurrence of any Unavoidable Delay. In addition to the self-help remedy afforded Lessee under Section 30.2 of this Lease, upon the occurrence of a Special Lessor Default Event (as defined below), Lessee shall also be permitted to terminate this Lease and purchase the Leased Property from Lessor for a reasonable time thereafterpurchase price equal to the Minimum Purchase Price minus an amount equal to the actual out-of-pocket cost to cure incurred by Lessee by reason of such default. In the event Lessee elects to purchase the Leased Property, provided it shall deliver a notice thereof to Lessor specifying a Payment Date occurring no less than 90 days subsequent to the date of such notice on which it shall purchase the Leased Property, and the same shall be thereupon conveyed in accordance with the provisions of Article 17. Any sums owed Lessee by Lessor hereunder shall bear interest at the Overdue Rate from the date due and payable until the date paid. In addition to the self-help remedy afforded Lessee under Section 30.2 of this Lease, upon the occurrence of a default by Lessor (other than a Special Lessor Default Event) which remains uncured beyond the notice and cure period set forth above, Lessee, as its sole additional remedy, shall be entitled to sue for L▇▇▇▇▇▇ commences to remedy ’s actual damages arising from such failure within said 30-day period default. As used herein, the term “Special Lessor Default Event” means, individually and prosecutes collectively, (i) the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events occurrence of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the a default by Lessor in which continues beyond the notice and cure periods pursuant to this Section 30.1, which default arises solely out of an obligation of Lessor hereunder which can be satisfied with the payment of money, or (ii) the failure of Lessor to satisfy any final, unsecured and unappealable judgment arising out of Lessor’s obligations under this lease shall not be deemed Lease and which is rendered by a waiver by Lessee court of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor in any covenant, agreement or obligation under this lease shall operate to waive or affect any subsequent Lessor Event of Default or default in any covenant, agreement or obligation hereunder, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver of any of its rights and remedies with respect to such or any subsequent default or in any other manner operate to the prejudice of Lesseecompetent jurisdiction.

Appears in 1 contract

Sources: Assignment and Assumption of Lease (Global Medical REIT Inc.)

Default by Lessor. 23.1 If during the term of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail not be in default in the performance of any obligation required to be performed under this Lease unless Lessor has failed to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 obligation within thirty (30) days after the receipt of notice from Lessee gives Lessor notice thereofspecifying in detail Lessor's failure to perform; provided, or however, that if the nature of Lessor's obligation is such failure cannot be remedied within 30 daysthat more than thirty (30) days are required for its performance, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day period and prosecutes the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed in default if it shall commence such performance within thirty (30) days and thereafter diligently pursue the same to completion. Lessee shall have no rights as a waiver by Lessee result of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor until Lessee also gives thirty (30) days' notice to any person who has a recorded interest pertaining to the Building or the Property, specifying the nature of the default. Such person shall then have the right to cure such default, and Lessor shall not be deemed in default if such person cures such default within thirty (30) days after receipt of notice of the default, or within such longer period of time as may reasonably be necessary to cure the default. If Lessor or such person does not cure the default, Lessee may exercise such rights or remedies as shall be provided or permitted by law to recover any covenantdamages proximately caused by such default. Notwithstanding anything to the contrary contained in this Lease, agreement Lessee's remedy for any breach or obligation default of this Lease by Lessor shall be limited to an action for damages. Lessee agrees that, in the event that it becomes entitled to receive damages from Lessor, Lessee shall not be allowed to recover from Lessor consequential damages or damages in excess of the out-of-pocket expenditures incurred by Lessee as a result of a default by Lessor. In any event, Lessor's liability to Lessee for damages resulting from Lessor's breach of any provision or provisions of this Lease shall not exceed the value of Lessor's equity interest in the Building. Lessee hereby waives and relinquishes any right which Lessee may have to terminate this Lease or withhold any payment owed by Lessee under this lease shall operate to waive or affect any subsequent Lessor Event of Default or default in any covenantLease, agreement or obligation hereunder, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver on account of any damage, condemnation, destruction or state of its disrepair of the Premises (including, without limiting the generality of the foregoing, those rights under California Civil Code Sections 1941, 1941.1 and remedies with respect to such or any subsequent default or in any other manner operate to the prejudice of Lessee1942).

Appears in 1 contract

Sources: Lease Agreement (Hawthorne Financial Corp)

Default by Lessor. 23.1 If during In the term event of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 days after Lessee gives Lessor notice thereof, or if such failure cannot be remedied within 30 days, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day period and prosecutes the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed a waiver by Lessee of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor hereunder, Lessee's exclusive remedy shall be to bring an independent action for damages or other relief, but prior to any such action Lessee shall give Lessor written notice specifying such default with reasonable detail, and Lessor shall thereupon have thirty (30) days in which to cure any covenantsuch default. Unless Lessor fails to cure any default after such notice, agreement Lessee shall not have any remedy or obligation under cause of action by reason thereof. If such default cannot reasonably be cured within such thirty (30) day period, the length of such period shall be extended for the period reasonably required therefor if Lessor commences curing such default within such thirty (30) day period and continues the curing thereof with reasonable diligence and continuity. Except as otherwise expressly provided in this lease Lease, Lessee shall operate have no rights to waive abatement, self-help, offset, or affect any subsequent Lessor Event deduction of Default or default in any covenant, agreement or obligation from Rent otherwise due and payable hereunder, nor shall any forbearance right to terminate this Lease, by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver reason of any default by Lessor hereunder. All obligations of Lessor hereunder shall be construed as covenants, not conditions, and all such obligations shall be binding upon Lessor only during the period of its rights ownership of the Building and remedies with respect not thereafter, (but upon the sale or disposition of the Building, unless the purchasing party agrees to such assume liability for actions or any subsequent default or in any other manner operate defaults hereunder by the selling party occurring prior to the prejudice closing of Lesseesuch sale or disposition, the selling party shall remain liable to Lessee for actions and defaults hereunder by such selling party occurring prior to the closing of such sale or disposition but only in an amount, in the aggregate, up to the sale or disposition proceeds received by the selling party). The term "Lessor" shall mean only the owner at the time of the Building.

Appears in 1 contract

Sources: Lease Agreement (Equallogic Inc)

Default by Lessor. 23.1 If during the term of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail not be in default in the performance of any obligation required to be performed under this Lease unless Lessor has failed to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 obligation within thirty (30) days after the receipt of notice from Lessee gives specifying in detail Lessor’s failure to perform; provided, however, that if the nature of Lessor’s obligation is such that more than thirty (30) days are required for its performance, then Lessor notice thereof, or if such failure canshall not be remedied deemed in default if it shall commence such performance within 30 days, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said thirty (30-day period ) days and prosecutes thereafter diligently pursue the same to completion with diligence; or within sixty (b60) if any representation or warranty made by days after the original Notice to Lessor contained in this lease of such failure. Lessee shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement have no rights as a result of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor until Lessee also gives thirty (30) days’ notice to any person who has a recorded interest pertaining to the Building or the Property and who has previously requested such notice in any a document delivered to and acknowledged by Lessee and to whom Lessee has agreed to provide a cure right, specifying the nature of Lessor’s obligations under this lease the default. Such person shall then have the right to cure such default, and Lessor shall not be deemed a waiver in default if such person cures such default within thirty (30) days after receipt of notice of the default, or within such longer period of time as may reasonably be necessary to cure the default not exceeding an additional thirty (30) days. If Lessor or such person does not cure the default, Lessee may exercise such rights or remedies as shall be provided or permitted by Lessee of law to recover any damages proximately caused by such default. No waiver Lessee agrees that, in the event that it becomes entitled to receive damages from Lessor, Lessee shall not be allowed to recover from Lessor consequential damages or damages in excess of the out-of-pocket expenditures incurred by Lessee as a result of any Lessor Event of Default or any a default by Lessor. In any event, it is expressly understood and agreed that notwithstanding anything in this Lease to the contrary, and notwithstanding any applicable law to the contrary, the liability of Lessor hereunder (including any successor lessor) and any recourse by Lessee against Lessor shall be limited solely and exclusively to the interest of Lessor in any covenantand to the Property and Building, agreement or obligation under this lease shall operate to waive or affect any subsequent Lessor Event of Default or default in any covenant, agreement or obligation hereunderand neither Lessor, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver of any of its rights constituent partners, shall have any personal liability therefor, and remedies with respect to Lessee hereby expressly waives and releases such personal liability on behalf of itself and all persons claiming by, through or any subsequent default or in any other manner operate to the prejudice of under Lessee.

Appears in 1 contract

Sources: Lease Agreement (Manhattan Bancorp)

Default by Lessor. 23.1 If during the term The Lessor shall not be in default of this lease there shall occur any of the following events obligations of the Lessor under the Lease, unless the Lessor fails to perform such obligations within a reasonable time, but in no event more than thirty (30) days after written notice by the Lessee to the Lessor Events specifying wherein the Lessor has failed to perform such obligations; provided, however, that if the nature of Default”): the Lessor's default is such that more than thirty (a30) if days are required for its cure, the Lessor shall fail to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 days after Lessee gives Lessor notice thereof, or if such failure cannot be remedied in default if the Lessor commences such cure within 30 days, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said thirty (30-) day period and thereafter diligently prosecutes the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on completion. In the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement event of any breach of the terms and conditions of this lease such default by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of Lessee may pursue any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statuteavailable to the Lessee under the laws of judicial decisions of the State of California, except that the Lessee shall not have the right to terminate this Lease except as expressly provided herein nor to set off against any payments due under this Lease. The continued Lessee waives any right to deduct the expenses of repairs done by the Lessee on the Lessor’s behalf from the rent and waives, except as herein provided, any of the Lessor’s obligations for tenantability of the Building or the Premises. In the case of an emergency, or if Lessor has not completed a repair or maintenance that is required under the Lease within 30 days following Lessee’s notice to Lessor (except that such 30 days shall be extended on day for day basis due to Force Majeure), that prevents Lessee’s occupancy or use of the Premises or parking area, Lessee may make or complete any such Lessor responsible repair or maintenance and payment submit the invoice for same to Lessor for reimbursement to Lessee of rent by Lessee’s reasonable actual costs incurred with such repair or maintenance, and said reimbursement shall be paid to Lessee with knowledge of the default by Lessor in any of within 30 days following Lessor’s obligations under this lease shall not be deemed a waiver receipt of Lessee’s invoice accompanied by Lessee receipts or other evidence of such default. No waiver by Lessee costs, proof of payment thereof and lien waivers from any Lessor Event of Default or any default by Lessor in any covenant, agreement or obligation under this lease shall operate to waive or affect any subsequent Lessor Event of Default or default in any covenant, agreement or obligation hereunder, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver of any of its rights and remedies with respect to such or any subsequent default or in any other manner operate to the prejudice of Lesseecontractors and/or materialmen.

Appears in 1 contract

Sources: Commercial Lease (Resonant Inc)

Default by Lessor. 23.1 If during the term of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail to perform not be responsible for any delay or observe failure In the observance or performances of any requirement, obligation, agreement, covenant term or condition of this leaseLease to be observed or performed by Lessor to the extent that such delay results from action or order of governmental authorities; civil commotions; strikes, and fires, ads of God or the public enemy; act or default of any such failure shall continue for 30 days after Lessee gives Lessor notice thereofin the Building, inability to procure labor, material, fuel, electricity, or if such failure canother forms of energy; or any other cause beyond the reasonable control of Lessor, whether or not be remedied within 30 days, then for a reasonable similar to the matters herein specifically enumerated. Any delay shall extend by like time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day any period and prosecutes the same to completion with diligence; or (b) if any representation or warranty made performance by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed a waiver breach of, or failure to perform, this Lease or any provisions thereof. In the event of any default under this Lease by Lessee Lessor. Lessee, before exercising any rights that it may have at law to cancel this Lease, shall have given notice of such default to Lessor and shall have offered Lessor a reasonable opportunity to correct and cure the default. No waiver by , Lessee also agrees to give the holders of any mortgages or deeds of trust (mortgages), by registered mail, a copy of any notice of default served upon Lessor, provided that prior to such notice Lessee has been notified in writing (by way of Noticed Assignment of Rents and Leases, or otherwise) of the addresses of such mortgagees. Lessee further agrees that If Lessor Event of Default or any default by Lessor in any covenant, agreement or obligation under this lease shall operate have failed to waive or affect any subsequent Lessor Event of Default or default in any covenant, agreement or obligation hereunder, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any cure such default be a waiver of any of its rights and remedies with respect within the aforesaid time limit, then the mortgagees shall have an additional thirty (30) days within which to one such or any subsequent default or if such default cannot be cured within that time, then such additional time as may be necessary if within such thirty (30) days any mortgagees has commenced and is diligently pursuing the remedies necessary to cure such default (including but not limited to commencement of foreclosure proceedings if necessary to effect such cure), in any other manner operate to the prejudice of Lesseewhich event this Lease shall not be terminated while such remedies are being so diligently pursued.

Appears in 1 contract

Sources: Lease Agreement (National Scientific Corp/Az)

Default by Lessor. 23.1 If during the term of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail not be in default in the performance of any obligation required to be performed under this Lease unless Lessor has failed to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 obligation within thirty (30) days after the receipt of notice from Lessee gives Lessor notice thereof, or if such specifying in detail Lessor’s failure cannot be remedied within 30 days, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day period and prosecutes the same to completion with diligenceperform; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of however, that if the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any nature of Lessor’s obligations under this lease obligation is such that more than thirty (30) days are required for its performance, then Lessor shall not be deemed in default if it shall commence such performance within thirty (30) days and thereafter diligently pursue Reviewed: the same to completion. Lessee shall have no rights as a waiver by Lessee result of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor until Lessee also gives thirty (30) days’ notice to any person who has a recorded interest pertaining to the Building or the Property, specifying the nature of the default. Such person shall then have the right to cure such default, and Lessor shall not be deemed in default if such person cures such default within thirty (30) days after receipt of notice of the default, or within such longer period of time as may reasonably be necessary to cure the default. If Lessor or such person does not cure the default, Lessee may exercise such rights or remedies as shall be provided or permitted by law to recover any covenantdamages proximately caused by such default. In any event, agreement or obligation under it is expressly understood and agreed that notwithstanding anything in this lease Lease to the contrary, and notwithstanding any applicable law to the contrary, the liability of Lessor hereunder (including any successor lessor) and any recourse by Lessee against Lessor shall operate be limited solely and exclusively to waive or affect any subsequent the interest of Lessor Event of Default or default in any covenantand to the Property and Building, agreement or obligation hereunderand neither Lessor, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver of any of its rights constituent partners, shall have any personal liability therefor, and remedies with respect to Lessee hereby expressly waives and releases such personal liability on behalf of itself and all persons claiming by, through or any subsequent default or in any other manner operate to the prejudice of under Lessee.

Appears in 1 contract

Sources: Lease Agreement (Peerless Systems Corp)

Default by Lessor. 23.1 If during the term of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail to keep, observe or perform any of the terms, covenants or observe any requirementconditions herein to be kept, obligation, agreement, covenant or condition of this leaseobserved and performed by Lessor, and any such failure shall continue for 30 default has not been cured by Lessor within thirty (30) days after Lessee gives Tenant has given written notice to Lessor, and provided that Lessor notice thereof, or if such failure canis not be remedied within 30 daysdiligently and effectively in the process of curing the default, then for a reasonable time thereafterTenant in addition to any other rights or remedies available to Tenant hereunder, provided ▇▇▇▇▇▇ commences shall have: (i) the right, at its option, to remedy cure such failure within said 30-day period default by such acts as may be reasonably necessary under the circumstances, and prosecutes the same to completion with diligence; or (b) if offset any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay and all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessorexpense thereof, including reasonable attorneys’ fees fees, against amounts due to Lessor from Tenant; (ii) if the default by Lessor is such as to constructively evict or effectively dispossess Tenant, or substantially destroy Tenant’s right to quiet enjoyment, Tenant shall have the right to invoke any and expensesall rights and remedies Tenant may have at law and in equity; or (iii) the option to exercise any other rights or remedies which Tenant may have at law or equity. Notwithstanding the foregoing, payable immediately upon the filing notice and cure period provided to Lessor above shall not apply to Lessor’s obligation to timely deliver the Premises as required under this Lease. If Tenant makes any advances because of any suit for possession a default by Lessor not cured within thirty (30) days after notice from Tenant, Lessor is obligated to repay the full amount of such advances, together with interest on the amount advanced at the rate of interest set forth in Section 5 hereof (18% per annum or money damagesthe maximum rate of interest permitted by law). No remedy herein or otherwise conferred upon or reserved to Lessee is intended Tenant shall be considered to be exclusive of exclude or suspend any other remedy herein or by law provided, but each the same shall be cumulative and shall be in addition to every other remedy given hereunder hereunder, or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises , and payment of rent every power and remedy given by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not Lease to Tenant may be exercised from time to time and so often as occasion may arise or as may be deemed a waiver by Lessee of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor in any covenant, agreement or obligation under this lease shall operate to waive or affect any subsequent Lessor Event of Default or default in any covenant, agreement or obligation hereunder, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver of any of its rights and remedies with respect to such or any subsequent default or in any other manner operate to the prejudice of Lesseeexpedient.

Appears in 1 contract

Sources: Lease (Mesaba Holdings Inc)

Default by Lessor. 23.1 If during the term of this lease there shall occur Should Lessor default in any of Lessor's obligations under this Lease after thirty (30) days written notice from Lessee specifying the following events nature of such default, including, but not limited to, Lessor's duty to pay debt service payments or in its obligation to repair, maintain and/or replace portions of the Premises, upon Lessor's failure to cure such default within thirty (“Lessor Events of Default”): (a30) if Lessor shall fail to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 days after Lessee gives Lessor receipt of Lessee's notice thereof, thereof (or if said default or omission complained of shall be of such failure a nature that the same cannot be completely cured or remedied within 30 dayssaid thirty (30) day period, then for a and if Lessee shall not have diligently commenced curing such default with such thirty (30) day period, and shall not thereafter with reasonable time thereafter, provided ▇▇▇▇▇▇ commences diligence and in good faith proceed to remedy or cure such failure default within said 30-day period a commercially reasonable amount of time), Lessee shall have and prosecutes the same enjoy (but shall have no obligation), in addition to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein rights and remedies under this Lease or under common law, in equity or by law provided, but each statute (all of which shall be cumulative and no action by Lessee shall be deemed an election of remedies or a cure of Lessor's default): (i) the rights to divert and offset from rent and other payments hereunder due to Lessor, as provided in addition this Lease, or (ii) the right to every terminate this Lease and shall be entitled to receive from Lessor all damages, liabilities, costs and expenses (including, but not limited to, reasonable attorneys' fees and costs), together with interest thereon at the Interest Rate until paid, directly incurred by Lessee as a result of such default less that which Lessor proves could reasonably be avoided. In no event, however, shall Lessor be liable for any indirect or consequential damages to Lessee, such as loss of profits, customers, goodwill, etc. Lessee shall be under a duty to exercise diligence in any effort to mitigate its damages. Mention in this Lease of any particular remedy shall not preclude Lessee from any other remedy given hereunder or now or hereafter existing allowed at law or in equity or by statute. The continued occupancy equity, the foregoing remedies and rights of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed a waiver by Lessee of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor in any covenant, agreement or obligation under this lease shall operate to waive or affect any subsequent Lessor Event of Default or default in any covenant, agreement or obligation hereunder, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver of any of its rights and remedies with respect to such or any subsequent default or in any other manner operate to the prejudice of Lesseebeing cumulative.

Appears in 1 contract

Sources: Deed of Lease (Etoys Inc)

Default by Lessor. 23.1 If during Lessor shall default in the term performance or observance of any agreement or condition in this Lease contained on its part to be performed or observed or shall default in the payment of any tax or other charge which is a lien upon the Property or in the payment of any installment of principal or interest upon any mortgage which shall be prior in lien to the lien of this lease there Lease and if Lessor shall occur not cure such default within thirty (30) days after notice from Lessee specifying the default (or if such default cannot reasonably be cured within such thirty-day (30) period, then shall not within said thirty-day (30) period commence to cure such default and thereafter prosecute the curing of such default to completion with due dili- gence), Lessee may; at its option, without waiving any claim for damages or breach of agreement, at any time thereafter cure such default for the account of Lessor, and any amount paid or any contractual liability incurred by Lessee in so doing shall be deemed paid or incurred for the account of the following events Lessor, and Lessor agrees to reimburse Lessee therefor; provided that Lessee may cure any such default for the account of Lessor, as aforesaid, prior to the expiration of said thirty-day (“Lessor Events 30) period, but after said notice to Lessor, if the curing of Default”): such default prior to the expiration of said thirty-day (a30) if period is reasonably necessary to protect the Property or Lessee's interest therein, or to prevent a governmental fine, or to prevent injury or damage to persons or property or to permit Lessee to conduct its usual business operations in the Property. If Lessor shall fail to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 reimburse Lessee within thirty (30) days after Lessee gives Lessor notice thereof, or if such failure cannot be remedied within 30 days, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day period and prosecutes the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ amount paid for the enforcement account of Lessor hereunder, said amount may be deducted by Lessee from the next or any breach succeeding payments of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession rent due hereunder or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed a waiver by Lessee of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor in any covenant, agreement or obligation under this lease shall operate to waive or affect any subsequent Lessor Event of Default or default in any covenant, agreement or obligation hereunder, nor shall any forbearance by amounts due from Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver of any of its rights and remedies with respect to such or any subsequent default or in any other manner operate to the prejudice of LesseeLessor.

Appears in 1 contract

Sources: Lease Agreement (Arcon Coating Mills Inc)

Default by Lessor. 23.1 If during the term of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail not be in default in the performance of any obligation required to be performed under this Lease unless Lessor has failed to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 obligation within thirty (30) days after the receipt of notice from Lessee gives Lessor notice thereofspecifying in detail Lessor's failure to perform; provided, or however, that if the nature of Lessor's obligation is such failure cannot be remedied within 30 daysthat more than thirty (30) days are required for its performance, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day period and prosecutes the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed in default if it shall commence such performance within thirty (30) days and thereafter diligently pursue the same to completion. Lessee shall have no rights as a waiver by Lessee result of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor until Lessee also gives thirty (30) days' notice to any person who has a recorded interest pertaining to the Building or the Property, specifying the nature of the default. Such person shall then have the right to cure such default, and Lessor shall not be deemed in default if such person cures such default within thirty (30) days after receipt of notice of the default, or within such longer period of time as may reasonably be necessary to cure the default. If Lessor or such person does not cure the default, Lessee may exercise such rights or remedies as shall be provided or permitted by law to recover any covenantdamages proximately caused by such default. Notwithstanding anything to the contrary contained in this Lease, agreement or obligation under this lease shall operate to waive or affect Lessee's remedy for any subsequent Lessor Event of Default breach or default of this Lease by Lessor shall be limited to an action for damages. Lessee agrees that, in the event that it becomes entitled to receive damages from Lessor, Lessee shall not be allowed to recover from Lessor consequential damages or damages in excess of the out-of-pocket expenditures incurred by Lessee as a result of a default by Lessor. In any covenantevent, agreement or obligation hereunderit is expressly understood and agreed that notwithstanding anything in this Lease to the contrary, and notwithstanding any applicable law to the contrary, the liability of Lessor hereunder (including any successor lessor) and any recourse by Lessee against Lessor shall be limited solely and exclusively to the interest of Lessor in and to the Property and Building, and the rents therefrom, and neither Lessor, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver of any of its rights constituent partners, shall have any personal liability therefor, and remedies with respect to Lessee hereby expressly waives and releases such personal liability on behalf of itself and all persons claiming by, through or any subsequent default or in any other manner operate to the prejudice of under Lessee.

Appears in 1 contract

Sources: Lease Agreement (A-Mark Precious Metals, Inc.)

Default by Lessor. 23.1 If during In the term event of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 days after Lessee gives Lessor notice thereof, or if such failure cannot be remedied within 30 days, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day period and prosecutes the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed a waiver by Lessee of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor hereunder, Lessee's exclusive remedy shall be to bring an independent action for damages or other relief, but prior to any such action Lessee shall give Lessor written notice specifying such default with reasonable detail, and Lessor shall thereupon have thirty (30) days in which to cure any covenantsuch default. Unless Lessor fails to cure any default after such notice, agreement Lessee shall not have any remedy or obligation under cause of action by reason thereof. If such default cannot reasonably be cured within such thirty (30) day period, the length of such period shall be extended for the period reasonably required therefor if Lessor commences curing such default within such thirty (30) day period and continues the curing thereof with reasonable diligence and continuity. Except as otherwise expressly provided in this lease Lease, Lessee shall operate have no rights to waive abatement, self-help, offset, or affect any subsequent Lessor Event deduction of Default or default in any covenant, agreement or obligation from Rent otherwise due and payable hereunder, nor shall any forbearance right to terminate this Lease, by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver reason of any default by Lessor hereunder. All obligations of Lessor hereunder shall be construed as covenants, not conditions, and all such obligations shall be binding upon Lessor only during the period of its rights ownership of the Building and remedies with respect not thereafter, (but upon the sale or disposition of the Building, unless the purchasing party agrees to such assume liability for actions or any subsequent default or in any other manner operate defaults hereunder by the selling party occurring prior to the prejudice closing of Lessee.such sale or disposition, the selling party shall remain liable to Lessee for actions and defaults hereunder by such selling party occurring prior to the closing of such sale or disposition but only in an amount, in the aggregate, up to the

Appears in 1 contract

Sources: Lease Agreement (Skillsoft Public Limited Co)

Default by Lessor. 23.1 If during the term of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 days after Lessee gives Lessor notice thereof, or if such failure cannot be remedied within 30 days, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day period and prosecutes the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed a waiver to be in default in the performance of any obligation required to be performed under this Lease unless Lessor has failed to perform such obligation within thirty (30) days after the receipt of written notice from Lessee specifying in reasonable detail Lessor’s failure to perform; provided, however, that if the nature of Lessor’s obligation is such that more than thirty (30) days are required for its performance, then Lessor shall not be deemed in default if it shall commence such performance within thirty (30) days and thereafter diligently pursue the same to completion. If Lessor does not cure the default, Lessee may exercise such rights or remedies as shall be provided or permitted under this Lease and by Lessee of law to recover any damages proximately caused by such default. No waiver Notwithstanding anything to the contrary contained in this Lease, Lessee’s remedy for any breach or default of this Lease by Lessor shall be limited to an action for damages. Lessee agrees that, in the event that it becomes entitled to receive damages from Lessor, Lessee shall not be allowed to recover from Lessor consequential damages or damages in excess of the out-of-pocket expenditures incurred by Lessee as a result of a default by Lessor. In any event, Lessor’s liability to Lessee for damages resulting from Lessor’s breach of any Lessor Event provision or provisions of Default this Lease shall not exceed Lessor’s equity interest in the Building and Lessee shall look solely to Lessor’s estate in the Building and the proceeds thereof for collection. Lessee hereby waives and relinquishes any right which Lessee may have to terminate this Lease or withhold any default by Lessor in any covenantpayment owed, agreement or obligation under this lease shall operate to waive or affect any subsequent Lessor Event of Default or default in any covenant, agreement or obligation hereunder, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver on account of any damage, condemnation, destruction or state of its rights and remedies with respect to such or any subsequent default disrepair of the Premises, except as specifically provided for in Section 8.3, or in any other manner operate to the prejudice Articles 12 or 13 of Lesseethis Lease.

Appears in 1 contract

Sources: Office Lease (Icop Digital, Inc)

Default by Lessor. 23.1 If during the term of this lease there shall occur any of the following events (“Lessor Events of Default”): (a) if Lessor shall fail not be in default in the performance of any obligation required to be performed under this Lease unless Lessor has failed to perform or observe any requirement, obligation, agreement, covenant or condition of this lease, and any such failure shall continue for 30 obligation within thirty (30) days after the receipt of notice from Lessee gives Lessor notice thereofspecifying in detail Lessor's failure to perform; provided, or however, that if the nature of Lessor's obligation is such failure cannot be remedied within 30 daysthat more than thirty (30) days are required for its performance, then for a reasonable time thereafter, provided ▇▇▇▇▇▇ commences to remedy such failure within said 30-day period and prosecutes the same to completion with diligence; or (b) if any representation or warranty made by Lessor contained in this lease shall prove to be incorrect in any material respect on the date upon which it was made. Following any Lessor Events of ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to pay all costs of proceedings by ▇▇▇▇▇▇ for the enforcement of any breach of the terms and conditions of this lease by the Lessor, including reasonable attorneys’ fees and expenses, payable immediately upon the filing of any suit for possession or money damages. No remedy herein conferred upon or reserved to Lessee is intended to be exclusive of any other remedy herein or by law provided, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. The continued occupancy of the Premises and payment of rent by Lessee with knowledge of the default by Lessor in any of Lessor’s obligations under this lease shall not be deemed in default if it shall commence such performance within thirty (30) days and thereafter diligently pursue the same to completion. Lessee shall have no rights as a waiver by Lessee result of such default. No waiver by Lessee of any Lessor Event of Default or any default by Lessor until Lessee also gives thirty (30) days' notice to any person who has a recorded interest pertaining to the Building or the Property, specifying the nature of the default. Such person shall then have the right to cure such default, and Lessor shall not be deemed in default if such person cures such default within thirty (30) days after receipt of notice of the default, or within such longer period of time as may reasonably be necessary to cure the default. If Lessor or such person does not cure the default, Lessee may exercise such rights or remedies as shall be provided or permitted by law to recover any covenantdamages proximately caused by such default. Notwithstanding anything to the contrary contained in this Lease, agreement or obligation under this lease shall operate to waive or affect Lessee's remedy for any subsequent Lessor Event of Default breach or default of this Lease by Lessor shall be limited to an action for damages. Lessee agrees that, in the event that it becomes entitled to receive damages from Lessor, Lessee shall not be allowed to recover from Lessor consequential damages or damages in excess of the out-of-pocket expenditures incurred by Lessee as a result of a default by Lessor. In any covenantevent, agreement or obligation hereunderit is expressly understood and agreed that notwithstanding anything in this Lease to the contrary, and notwithstanding any applicable law to the contrary, the liability of Lessor hereunder (including any Reviewed: successor lessor) and any recourse by Lessee against Lessor shall be limited solely and exclusively to the interest of Lessor in and to the Property and Building, and neither Lessor, nor shall any forbearance by Lessee to enforce a right or remedy upon a Lessor Event of Default or any such default be a waiver of any of its constituent partners, shall have any personal liability therefor, and Lessee hereby expressly waives and releases such personal liability on behalf of itself and all persons claiming by, through or under Lessee. Lessee hereby waives and relinquishes any right which Lessee may have to terminate this Lease or withhold any payment owed by Lessee under this Lease, on account of any damage, condemnation, destruction or state of disrepair of the Premises (including, without limiting the generality of the foregoing, those rights under California Civil Code Sections 1941, 1941.1 and remedies with respect to such or any subsequent default or in any other manner operate to the prejudice of Lessee1942).

Appears in 1 contract

Sources: Lease Agreement (iDcentrix, Inc.)