Common use of Default by Subtenant Clause in Contracts

Default by Subtenant. If the Subtenant shall fail to perform or observe any of the terms, provisions, covenants or conditions of this Sublease or of the Lease Provisions, and such failure continues beyond the expiration of the notice and cure period provided in Article 24 of the Lease (an “Event of Default”), Sublandlord shall have all the rights of Landlord under the Lease and Subtenant shall be subject to all provisions with respect to a default by Tenant under the Lease. Without limiting the generality of the foregoing, Sublandlord shall have the remedy described in California Civil Code Section 1951.4 (Sublandlord may continue this Sublease in effect after Subtenant’s breach, even if Subtenant has abandoned Premises, and enforce all of Sublandlord’s rights and remedies under this Sublease, including the right to recover rent as it becomes due, if Subtenant has the right to sublet or assign, subject only to reasonable limitations). In addition to any right of Sublandlord under the Lease, upon an Event of Default by Subtenant, Sublandlord may thereafter at any time terminate this Sublease and reenter Premises, and/or require immediate payment by Subtenant of all monetary obligations of Subtenant under this Sublease based on Sublandlord’s reasonable estimation of those costs at such time. All rights and remedies of Sublandlord under this Sublease, the Lease, at law or in equity shall be cumulative, none shall be exclusive of any other, and pursuit of any one right or remedy shall not preclude pursuit of any additional rights or remedies.

Appears in 2 contracts

Sources: Consent to Sublease (Tobira Therapeutics, Inc.), Sublease Agreement (Tobira Therapeutics, Inc.)