Default by Tenant. Any of the following shall constitute an event of default (the "Event of Default") by Tenant hereunder: (a) failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or (b) abandonment or vacation of the Premises by Tenant; or (c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or (d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or (e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or (f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or (g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or (h) without limiting the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eight
Appears in 1 contract
Sources: Lease Agreement
Default by Tenant. Any The occurrence of any one or more of the following shall constitute an event of default events (the "Event of Default") shall constitute a breach of this Lease by Tenant hereunder▇▇▇▇▇▇:
(a) failure Tenant fails to pay to Port any Rent Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other sum amount of money payable by Tenant hereunder as and when due, such rent becomes due and payable and such default failure continues for a period of three more than five (35) days following after ▇▇▇▇▇▇▇▇ gives written notice from Port. Notwithstanding thereof to Tenant; provided, however, that after the foregoingsecond such failure in a calendar year, Port only the passage of time, but no further written notice, shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute establish an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of in the California Code of Civil Proceduresame calendar year; or
(b) abandonment Tenant fails to perform or vacation breaches any other agreement or covenant of the Premises this Lease to be performed or observed by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, Tenant as determined by Port in its sole and absolute discretion when performance or observance is due and such failure or breach continues for a period of twenty-four more than ten (2410) hours following days after Landlord gives written notice from Portthereof to Tenant; provided, however, that notwithstanding if, by the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence nature of such coverage agreement or covenant, such failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default or breach cannot reasonably be cured within such twenty-four period of ten (2410) hour perioddays, Tenant an Event of Default shall not be in default of this Lease if exist as long as Tenant commences to cure with due diligence and dispatch the default curing of such failure or breach within such twenty-four period of ten (2410) hour period days and, having so commenced, thereafter prosecutes with diligence and diligently dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in good faith continues bankruptcy or for liquidation or to cure take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the defaultbenefit of its creditors, providedor (iii) consents to the appointment of a custodian, howeverreceiver, in no event shall trustee or other officer with similar powers of Tenant have more than or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to cure such defaultTenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(he) without limiting the provisions This Lease or any estate of Sections 21(cTenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightdays.
Appears in 1 contract
Sources: Industrial Lease (EnviroStar, Inc.)
Default by Tenant. Any The occurrence of any one or more of the following shall constitute an event of default events (the "Event of Default") shall constitute a breach of this Lease by Tenant hereunderTenant:
(a) failure Tenant fails to pay to Port ▇▇▇ ▇ny Base Rent, or any Rent additional monthly rent under section 3.1 hereof, or any additional rent or other sum amount of money or charge payable by Tenant hereunder as and when due, such rent becomes due and payable and such default failure continues for a period of three more than five (35) business days following after Landlord gives written notice from Port. Notwithstanding thereof to Tenant; provided, however, that after the foregoingsecond such failure in a calendar year, Port only the passage of time, but no further written notice, shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute establish an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of in the California Code of Civil Proceduresame calendar year; or
(b) abandonment Tenant fails to perform or vacation breaches any other agreement or covenant of the Premises this Lease to be performed or observed by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, Tenant as determined by Port in its sole and absolute discretion when performance or observance is due and such failure or breach continues for a period of twenty-four more than ten (2410) hours following days after Landlord gives written notice from Portthereof to Tenant; provided, however, that notwithstanding if, by the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence nature of such coverage agreement or covenant, such failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default or breach cannot reasonably be cured within such twenty-four period of ten (2410) hour perioddays, Tenant an Event of Default shall not be in default of this Lease if exist as long as Tenant commences to cure with due diligence and dispatch the default curing of such failure or breach within such twenty-four period of ten (2410) hour period days and, having so commenced, thereafter prosecutes with diligence and diligently dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in good faith continues bankruptcy or for liquidation or to cure take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the defaultbenefit of its creditors, providedor (iii) consents to the appointment of a custodian, howeverreceiver, in no event shall trustee or other officer with similar powers of Tenant have more than or of any substantial part of Tenant's property; or
(d) Without consent by Tenant, a court or government a▇▇▇▇▇▇ty enters an order, and such order is not vacated within thirty (30) days days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to cure such defaultTenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(he) without limiting the provisions This Lease or any estate of Sections 21(cTenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightdays; or
Appears in 1 contract
Sources: Industrial Lease (Foster L B Co)
Default by Tenant. Any The occurrence of any one or more of the following events shall constitute an event a material default and breach of default this Lease by Tenant: (i) the "Event of Default") by Tenant hereunder:
(a) failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use Tenant or the vacating of the Premises solely for more than thirty (30) consecutive days; (ii) the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver make any payment of Rent or any other payment required to Port the estoppel certificate within the time period and in the manner required be made by Section 32 belowTenant hereunder, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Portof date due; or
(eiii) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with observe or perform any of the other covenants, conditions or provisions of Section 15 above and Tenant's the Lease, where such failure to shall continue for a period of twenty (20) days; provided, however, if more than twenty (20) days are reasonably required for its cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, then Tenant shall not be deemed to be in default of this Lease if Tenant commences to such cure the default within such twentysaid 20-four (24) hour day period and thereafter diligently and in good faith continues prosecutes such cure to cure completion; (iv) the default, provided, howevermaking by Tenant of any general assignment or general arrangement for the benefit of creditors; (v) the filing by or against Tenant of a petition to have Tenant adjudged bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in no event shall the case of a petition filed against Tenant, the same is dismissed within sixty (60) days); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in the Lease, where possession is not restored to Tenant have more than within thirty (30) days to cure such defaultdays; or
or (hvii) without limiting the provisions attachment, execution or other judicial seizure of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and substantially all of Tenant's failure to cure assets located at the foregoing default Premises or of Tenant's interest in this Lease, where such seizure is not discharged within forty-eightthirty (30) days. The above notice periods may, at the election of Landlord, run concurrently with any statutorily required notice periods.
Appears in 1 contract
Sources: Lease Addendum (Bsquare Corp /Wa)
Default by Tenant. Any The occurrence of any one or more of the following shall constitute an event of default events (the "Event of Default") shall constitute a breach of this Lease by Tenant hereunderTenant:
(a) failure Tenant fails to pay to Port any Rent Base Rent, or any additional monthly rent under section 3.1 hereof, or any additional rent or other sum amount of money or charge payable by Tenant hereunder as and when due, such rent becomes due and payable and such default failure continues for a period of three more than five (35) days following after Landlord gives written notice from Port. Notwithstanding thereof to Tenant, provided, however, that after the foregoingsecond such failure in a calendar year, Port only the passage of time, but no further written notice, shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute establish an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of in the California Code of Civil Proceduresame calendar year; or
(b) abandonment Tenant fails to perform or vacation breaches any other agreement or covenant of the Premises this Lease to be performed or observed by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, Tenant as determined by Port in its sole and absolute discretion when performance or observance is due and such failure or breach continues for a period of twenty-four more than twenty (2420) hours following days after Landlord gives written notice from Portthereof to Tenant; provided, however, that notwithstanding if, by the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence nature of such coverage agreement or covenant, such failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default or breach cannot reasonably be cured within such twenty-four period of twenty (2420) hour perioddays, Tenant an Event of Default shall not be in default of this Lease if exist as long as Tenant commences to cure with due diligence and dispatch the default curing of such failure or breach within such twenty-four period of twenty (2420) hour period days and, having so commenced, thereafter prosecutes with diligence and diligently dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in good faith continues bankruptcy or for liquidation or to cure take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the defaultbenefit of its creditors, providedor (iii) consents to the appointment of a custodian, howeverreceiver, in no event shall trustee or other officer with similar powers of Tenant have more than or of any substantial part of Tenant's property; or
(d) Without consent by Tenant, a court or government authority enters an order, and such order is not vacated within thirty (30) days days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to cure such defaultTenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(he) without limiting This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days; or
(f) Tenant abandons the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightPremises.
Appears in 1 contract
Sources: Sublease (Build a Bear Workshop Inc)
Default by Tenant. Any of the following shall constitute an event of default (the "Event of Default") by Tenant hereunder:
(a) failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) failure by Tenant to deliver the Monthly Percentage Rent Statement or Annual Statement when due and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any twelve (12) month period, and any such failure by Tenant after Tenant has received two (2) such notices in such twelve (12) month period shall, at the option of Port, constitute an Event of Default by Tenant hereunder without any further action by Port (including, but not limited to, notice to Tenant of such failure) or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(c) a second understatement by Tenant of its Gross Revenues for any audit period by five percent (5%) or more within any three (3) Lease Year period of the first such understatement; or
(d) failure to comply with Tenant's management covenants set forth in Section 39, as determined by Port in its sole and absolute discretion and such failure continues for a period of two (2) days following written notice from Port; or
(e) abandonment or vacation of the Premises by Tenant; or
(cf) failure to pay Port at close of escrow of any Sale, Port's Participation in Net Sale Proceeds and such default continues for a period of three (3) days following written notice from Port.
(g) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease upon written notice without notice or demand an opportunity to Tenantcure; or
(dh) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 34 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(ei) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(fj) failure by Tenant or Tenant's broker as applicable to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease Lease, and Tenant's or Tenant's broker's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(gk) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(hl) failure by Tenant to discharge any lien or encumbrance placed on the Facility or any part thereof in violation of this Lease within ten (10) days after the date such lien or encumbrance is filed or recorded against the Facility or any part thereof, or if Tenant has no knowledge of such lien, then Tenant shall discharge such lien or encumbrance within fifteen (15) days following Tenant's knowledge of such lien or encumbrance; or
(m) failure by Tenant to observe, keep or perform any of the other terms, covenants, agreements or conditions contained in this Lease and required to be observed or performed by Tenant and not specifically enumerated in this Section 21, and such failure continues for a period of fifteen (15) days after written notice by Port, provided that if such default is not capable of cure within such fifteen (15) day period, Tenant shall have a reasonable period to complete such cure if Tenant promptly undertakes action to cure such default within such fifteen (15) day period and thereafter diligently prosecutes the same to completion within sixty (60) days after the receipt of notice of default from Port. Port shall not be required to provide such notice more than twice in any twelve (12) month period with respect to any material non-monetary defaults and after the second notice in any calendar year, any subsequent failure by Tenant during such twelve (12) month period shall automatically constitute an Event of Default hereunder; or
(n) Tenant shall become bankrupt or insolvent or make a transfer in fraud of creditors, or make an assignment for the benefit of creditors, or bring or have brought against Tenant any action or proceedings of any kind under any provision of the U.S. Bankruptcy Code or under any other insolvency, bankruptcy or reorganization act and, in the event such proceedings are involuntary, Tenant is not discharged from the same within sixty (60) days thereafter; or
(o) a receiver is appointed for a substantial part of the assets of Tenant and such receiver is not discharged within sixty (60) days; or
(p) this Lease or any estate of Tenant under this Lease shall be levied upon by any attachment or execution and such attachment is not stayed or lifted within sixty (60) days; or
(q) without limiting the provisions of Sections 21(c21(f) or 21(g21(k) aboveabove or lengthening the cure periods under those subsections, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eighteight (48) hours following written notice from Port.
Appears in 1 contract
Sources: Lease Agreement
Default by Tenant. Any Landlord shall have the right to terminate this lease upon the following listed defaults by TENANT and shall be entitled to elect to collect periodic damages or total damages as follows:
a. The occurrence of any of the following shall constitute an event of default (the "Event of Default") by Tenant hereunderdefault:
(a1) failure Delinquency in the due and punctual payment of any rent or additional rent payable under this period of five days after written notice.
(2) Delinquency by the Tenant in the performance of or compliance with any of the conditions contained in this lease other than those referred to pay to Port any Rent or other sum payable hereunder when duein the foregoing subparagraph (1), and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days after written notice thereof from the LANDLORD to the TENANT, except for any such 30 day period, in which event the time permitted to the TENANT to cure such default; or, provided the TENANT commences promptly and proceeds diligently to cure such default, and provide further that such period of time shall not be so extended as to jeopardize the interest of the LANDLORD or the TENANT to any civil or criminal liabilities.
(h3) Filing by the TENANT in any court pursuant to any statue, either of the United States or any state, or a petition in bankruptcy or insolvency, or for reorganization, or for the appointment of a receiver or trustee of all or a portion of the TENANT'S property or an assignment by the TENANT for the benefit of creditors.
(4) Filing against the TENANT in any court pursuant to any statue, either of the United States or of any state, of a petition in bankruptcy or insolvency, or for reorganization or for appointment of a receiver or trustee of all or a portion of the TENANT'S property, if within ninety (90) days after the commencement of any such proceeding against the TENANT such petition shall not have been dismissed.
b. Upon the occurrence of an event of default, the LANDLORD at any time thereafter may give written notice to the TENANT specifying such event of default and stating that this lease shall expire on the date specified in such notice, and upon the date specified in such notice this lease and all rights of the TENANT hereunder shall terminate.
c. Upon the expiration of this lease pursuant to paragraph (b) of this article, the TENANT shall peacefully surrender the demised property to the LANDLORD, and the LANDLORD, upon or at any time after any such expiration, may without limiting further notice reenter the leased property and repossess it by force, summary proceedings ejectment, or otherwise, and may dispossess the TENANT and remove the TENANT and all other persons and property from the leased property and may have, hold, and enjoy the leased property including the right to receive all rental income therefrom.
d. At any time after any such expiration, the LANDLORD may relet the demised premises or any part thereof, in the name of the LANDLORD or otherwise, for such term (which may be greater of less of the term of this lease) and on such conditions (which may include concessions or free rent) as the LANDLORD, in its uncontrolled discretion, may determine, and may collect and receive the rent therefor. The landlord shall in no way be responsible or liable for any failure to relet the leased property or any part thereof, or any failure to collect any rent due upon any such reletting.
e. No such expiration of this lease shall relive the TENANT of its liability and obligations under this lease, and such liability and obligations, shall survive any such expiration. In the event of any such expiration, whether or not the demised premises or any part the rent and additional rent required to be paid by the TENANT up to the time of such expiration, and thereafter the TENANT, until the such expiration, shall be liable to the LANDLORD for, and shall pay to the LANDLORD as and for liquidated and agreed current damages for the TENANT'S default:
(1) The equivalent of the amount of the rent and additional rent which would be payable under this lease by the TENANT if this lease were still in effect, less
(2) The net proceeds of any reletting effected pursuant to the provisions of Sections 21(cparagraph (d) of this article, after deducting all the LANDLORD'S expenses in connection with such reletting, including without limitation, all repossession cost, brokerage commissions, legal expenses, reasonable attorneys' fees, alteration costs, and expenses of preparation for such reletting.
f. Then TENANT shall pay such current damages, herein called deficiency, to the LANDLORD monthly on the days on which the rent and additional rent would have been payable under this lease if this lease were still in effect, and the LANDLORD shall be entitled to recover from the TENANT each monthly deficiency, as such deficiency shall arise. At any time after any such expiration, whether or 21(g) not the LANDLORD shall have collected any monthly deficiency, the LANDLORD shall be entitled to recover from the TENANT, and the TENANT shall pay to the LANDLORD, on demand, as and for liquidated and agreed final damages for the TENANT'S default, an amount equal to the difference between the rent and additional rent reserved hereunder for the unexpired portion of the lease term and then fair and reasonable rental value of the leased property for the same period. In the computation of such damages the difference between any installment of rent becoming due hereunder after the date of termination and the fair and reasonable rental value of the leased property for the period for which such installment was payable shall be discounted to the date of termination at the rate of four percent per annum. If the leased property or any part therof is relet by the LANDLORD for the unexpired term of this lease, or any part thereof, before presentation of proof of such liquidated damages to any court, commission, or tribunal, the amount of rent reserved upon such reletting shall be deemed prima facie to be the fair and reasonable rental value for the part or the whole of the leased property so relet during the term of the reletting. Nothing herein contained shall limit or prejudice the right of the LANDLORD to prove for and obtain as liquidated damages by reason of such termination an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to, or less than the amount of the difference referred to above.
g. The TENANT hereby expressly waives, failure so far as permitted by Tenant law, the service of any notice of intention to comply with Laws reenter provided for in any statue, or of the institution of legal proceedings to that end. The TENANT, for and Tenant's failure on behalf of itself and all persons claiming through or under the TENANT, also waive any right of redemption or reentry or repossession or to cure restore the foregoing default within forty-eightoperation of this lease in case the TENANT shall be dispossessed by a judgment or by warrant of any court or judge or in case of reentry or repossession by the LANDLORD.
h. The terms "enter", "reenter", "entry", or "reentry", as used in this lease are not restricted to their technical legal meaning.
Appears in 1 contract
Sources: Lease (Nichols Research Corp /Al/)
Default by Tenant. Any 15.1 If, at any time during the Term, any one or more of the following shall constitute events (each of which being herein called an event of default (the "“Event of Default"”) by Tenant hereundershall occur, to wit:
(a) failure Tenant fails to pay when due any sum required to Port any Rent or other sum payable be paid hereunder which is not received by Landlord when due, due and such default continues failure shall continue for a period of three five (35) business days following after the date on which Landlord gives Tenant written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any of such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedurea “Monetary Default”); or
(b) abandonment Tenant fails to perform or vacation observe any of Tenant’s obligations, covenants, or agreements (other than a Monetary Default) to be performed or observed by Tenant under this Lease and such failure shall continue for thirty (30) days after notice thereof from Landlord to Tenant, except that if such failure cannot, because of Unavoidable Delays or otherwise, be cured within such thirty (30) day period, and if Tenant shall have commenced to cure such failure within such thirty (30) day period or as soon as reasonably feasible following an Unavoidable Delay, and continues to prosecute such cure with reasonable diligence thereafter, then the Premises by Tenanttime to cure such failure shall be extended for such period as may be necessary to complete such cure with reasonable diligence, subject to Unavoidable Delays; or
(c) failure Tenant admits in writing that it cannot meet its obligations as they become due; or is declared insolvent according to use the Premises solely any applicable Legal Requirement; or an assignment of Tenant’s property is made for the Permitted Usebenefit of creditors; or a receiver or trustee is appointed for Tenant or a substantial portion of its property; or the interest of Tenant under this Lease is levied on under execution or other legal process; or any petition is filed by or against Tenant or Guarantor to declare Tenant bankrupt; or any petition is filed or other action taken to reorganize or modify Tenant’s or Guarantor’s capital structure if Tenant is a corporation or other entity. Any such levy, as determined by Port in its sole and absolute discretion and such failure continues for execution, legal process, or petition filed against Tenant or Guarantor shall not constitute a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this LeaseLease provided Tenant or Guarantor shall contest the same by appropriate proceedings and shall remove or vacate the same within sixty (60) days from the date of its creation, allowing Port to immediately terminate this Lease without notice service, or demand to Tenantfiling; or
(d) failure Tenant ceases to exist as a corporation.
15.2 In the event of any Event of Default by Tenant, Landlord, at its option, may pursue one or more of the following remedies without notice or demand in addition to all other rights and remedies provided for at law or in equity:
(a) Upon an Event of Default, Landlord may, at its option, terminate this Lease by written notice to Tenant and recover possession of the Premises. No act by Landlord (including, without limitation, acts of maintenance, efforts to execute relet the Premises, or the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under the Lease) other than giving written notice to Tenant shall terminate this Lease. Following such termination, Landlord may recover from Tenant damages arising from the Event of Default and deliver to Port the estoppel certificate within termination of this Lease, including without limitation the following:
(i) The Worth at the Time of Award of the unpaid Rent which had been earned at the time period and of termination; plus
(ii) The Worth at the Time of Award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus
(iii) The Worth at the Time of Award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus
(iv) any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to perform Tenant’s obligations under this Lease, or which, in the manner required ordinary course of things, would be likely to result therefrom. As used in Sections 15.2(a)(i) and 15.2(a)(ii) above, the “Worth at the Time of Award” shall be computed by allowing interest at the Default Rate. As used in Section 32 below15.2(a)(iii) above, and Tenant's failure to cure the foregoing default within “Worth at the Time of Award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus five percent (5) days following written notice from Port; or%).
(eb) a TransferLandlord shall have the remedy, described in California Civil Code 1951.4 (Landlord may continue the lease in effect after lessee’s breach and abandonment and recover rent as it becomes due, if lessee has the right to sublet or attempted Transferassign, subject only to reasonable limitations).
15.3 If Landlord shall exercise any one or more remedies hereunder granted or otherwise available, it shall not be deemed to be an acceptance or surrender of this Lease or the Premises by Tenant contrary whether by agreement or by operation of law; it is understood that such surrender can be effected only by the written agreement of Landlord and Tenant.
15.4 Each right and remedy provided for in this Lease shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise, including, but not limited to, suits for injunctive relief and specific performance. The exercise or beginning of the provision exercise by Landlord of Section 20 above; or
(f) failure to provide evidence any one or more of insurance coverage complying the rights or remedies provided for in this Lease or now or hereafter existing at law or in equity, or by statute or otherwise shall not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies provided for in this Lease or now or hereafter existing at or in equity or by statute or otherwise. All such rights and remedies shall be considered cumulative and non-exclusive. All costs incurred by Landlord in connection with the provisions of Section 16 above, failure to maintain collecting any insurance required to be maintained Rent or other amounts and damages owing by Tenant pursuant to the provisions of this Lease, or if to enforce any provision of this Lease, including reasonable attorneys’ fees from the date such insurance matter is turned over to an attorney, whether or not one or more actions are commenced by Landlord, shall also be canceled recoverable by Landlord from Tenant. If any notice and grace period required under Section 15.1(a) or terminated Section 15.1(b) was not previously given, a notice to pay rent or quit, or to perform or quit, as the case may be, given to Tenant under any statute authorizing the forfeiture of leases for unlawful detainer shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3also constitute the applicable notice for grace period purposes required by Section 15.1(a) business days following written notice from Port; or
Section 15.1 (gb). In such case, the applicable grace period under Section 15.1(a) or Section 15.1(b) and under the unlawful detainer statute shall run concurrently after the one such statutory notice, and the failure by of Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within the greater of the two (2) such twenty-four (24) hour period grace periods shall constitute both an unlawful detainer and diligently an Event of Default entitling Landlord to the remedies provided for in this Lease and/or by said statute.
15.5 Notwithstanding anything contained in this Section 15 to the contrary, any proceeding or action involving bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, or appointment of a receiver or trustee, as set forth above, shall be considered to be an Event of Default only when such proceeding, action, or remedy shall be taken or brought by or against the then holder of the leasehold estate under this Lease.
15.6 No endorsement or statement on any check or letter of Tenant shall be deemed an accord and in good faith continues satisfaction or recognized for any purpose whatsoever. The acceptance of any such check or payment shall be without prejudice to Landlord’s rights to recover any and all amounts owed by Tenant hereunder and shall not be deemed to cure any other default nor prejudice Landlord’s rights to pursue any other available remedy, Landlord’s acceptance of partial payment of rent does not constitute a waiver of any rights, including without limitation any right Landlord may have to recover possession of the default, provided, however, in no event Premises.
15.7 Landlord’s failure to perform any of its obligations under this Lease shall Tenant have more than constitute a default by Landlord under this Lease if the failure continues for thirty (30) days to cure such default; or
(h) without limiting after written notice of the provisions of Sections 21(c) or 21(g) above, failure by from Tenant to comply with Laws and Tenant's Landlord. If the required performance cannot be completed within thirty (30) days, Landlord’s failure to perform shall constitute a default under the Lease unless Landlord undertakes to cure the foregoing default failure within forty-eightthirty (30) days and diligently and continuously attempts to complete this cure as soon as reasonably possible. All obligations of each party hereunder shall be construed as covenants, not conditions.
Appears in 1 contract
Sources: Lease (Verisign Inc/Ca)
Default by Tenant. Any Landlord and Tenant hereby agree that the occurrence of any one or more of the following shall constitute an event of events is a material default (the "Event of Default") by Tenant hereunder:under this Lease and that said default shall give Landlord the rights described in Section 13.2. Landlord or Landlord's authorized agent shall have the right to execute and deliver any notice of default, notice to pay rent or quit or any other notice Landlord gives Tenant.
(a) Tenant's failure to pay make any payment of Base Rent, Tenant's Share of Operating Expense increases, Tenant's Share of Real Property Tax increases, parking charges, charges for after hours HVAC, late charges, or any other payment required to Port any Rent or other sum payable hereunder be made by Tenant hereunder, as and when due, and where such default continues failure shall continue for a period of three five (35) days after written notice thereof from Landlord to Tenant. In the event that Landlord serves Tenant with a notice to pay rent or quit pursuant to applicable unlawful detainer statutes, such notice shall also constitute the notice required by this Section 13.1(a).
(c) The failure of Tenant to comply with any of its obligations under Sections 6.1, 6.2(b), 7.2, 7.3, 8, 12, 18, 20, 22, 23, 25, 33, 34, and 55 and 59 where Tenant fails to comply with its obligations or fails to cure any earlier breach of such obligation within ten (10) days following written notice from PortLandlord to Tenant. Notwithstanding In the foregoingevent Landlord serves Tenant with a notice to quit or any other notice pursuant to applicable unlawful detainer statutes, Port said notice shall not be also constitute the notice required to provide such notice more than twice during any 12-month period, and any such by this Section 13.1(c).
(d) The failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event to observe or perform any of Default the covenants, conditions or provisions of this Lease to be observed or performed by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(other than those referenced in Sections 13.1(a), (b) abandonment or vacation of the Premises by Tenant; or
and (c) failure to use the Premises solely for the Permitted Use), as determined by Port in its sole and absolute discretion and above), where such failure continues shall continue for a period of twenty-four twenty (2420) hours following days after written notice thereof from PortLandlord to Tenant; provided, however, that notwithstanding if the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach nature of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five non-performance is such that more than twenty (520) days following written notice from Port; or
(e) a Transferare reasonably required for its cure, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, then Tenant shall not be deemed to be in default of this Lease if Tenant commences to such cure the default within such twenty-four said twenty (2420) hour day period and thereafter diligently and pursues such cure to completion. In the event that Landlord serves Tenant with a notice to quit pursuant to applicable unlawful detainer statutes, said notice shall also constitute the notice required by this Section 13.1(d).
(i) The making by Tenant or any guarantor of Tenant's obligations hereunder of any general arrangement or general assignment for the benefit of creditors; (ii) Tenant or any guarantor becoming a "debtor" as defined in good faith continues to cure the default, provided, however11 U.S.C. 101 or any successor statute thereto (unless, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions case of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eighta
Appears in 1 contract
Default by Tenant. Any The occurrence of any of the following events and the expiration of any grace periods hereafter described shall constitute an event of default (the "Event of Default") by Tenant hereunder" under this Lease on the part of Tenant:
(a) failure Tenant shall fail to pay any sum to Port any Rent or other sum payable hereunder when duebe paid by Tenant under this Lease, and such default continues failure shall continue for a period of three five (35) days following written after the date such payment is due;
(b) Tenant shall assign its interest in this Lease or sublet any portion of the Leased Premises except as permitted in this Lease or Tenant shall otherwise breach the provisions of Section 5.4 of this Lease;
(c) a breach shall be made in the performance of any of the other covenants or conditions which Tenant is required to observe and to perform (other than those referred to in subsections (a) and (b) above), and such breach shall continue for fifteen (15) days after notice from Port. Notwithstanding the foregoing, Port shall Landlord of such breach (unless with respect to any default which cannot be required cured within fifteen (15) days due to provide causes beyond Tenant's reasonable control, Tenant, in good faith, after receiving such notice more than twice during notice, shall have commenced and thereafter shall continue diligently to perform all action necessary to cure such default);
(d) if Tenant or any 12-month periodguarantor of this Lease is a corporation, and Tenant or any such failure guarantor shall cease to exist as a corporation in good standing in the state of its incorporation, or, if Tenant or any guarantor of this Lease is a partnership or other entity, Tenant or any such guarantor shall be dissolved or otherwise liquidated;
(e) if the interest of Tenant under this Lease shall be subjected to any attachment, execution, levy or other judicial seizure pursuant to any order or decree entered against Tenant in any legal proceeding that is not stayed (so as to prevent seizure) pending appeal and such order or decree is not vacated or bonded against so as to prevent seizure upon the earlier to occur of (aa) fifteen (15) days prior to the sale of such interest pursuant to such order or decree, or (bb) thirty (30) days after entry of the order;
(f) subject to any delay caused by Landlord, Tenant shall fail or refuse to move into or take possession of the Leased Premises within fifteen (15) days after Tenant has received two the Rent Commencement Date; or
(2g) if a breach occurs under, or any guarantor of this Lease neglects or fails to perform or observe, any covenant, term, provision, or condition contained in any such notices in such 12-month period shall constitute guaranty of this Lease. If an Event of Default by Tenant hereunder without any further action by Port or opportunity on the part of Tenant to cure except as shall have occurred under this Lease, then or at any time thereafter while such Event of Default continues, Landlord, at Landlord's option, may be required by Section 1161 have any one or more of the California Code following described remedies in addition to all other rights and remedies provided at law or in equity:
(i) Landlord, with or without terminating this Lease, may immediately or at any time thereafter re-enter the Leased Premises and correct or repair any condition which shall constitute a failure on Tenant's part to keep, observe, perform, satisfy or abide by any term, condition, covenant, agreement or obligation of Civil Procedurethis Lease and Tenant shall fully reimburse and compensate Landlord on demand for the costs incurred by Landlord in doing so; or
(bii) abandonment Landlord may terminate this Lease and forthwith repossess the Leased Premises and remove all persons or vacation property therefrom, and be entitled to recover forthwith as damages a sum of money equal to the total of (A) the cost of recovering the Leased Premises (including, without limitation, attorneys' fees and costs of suit), (B) the cost as reasonably estimated by Landlord of any alterations of, or repairs to, the Leased Premises which are necessary or proper to prepare the same for reletting, (C) the unpaid Rent owed at the time of termination, plus interest thereon from due date at the Interest Rate, (D) the present value of the balance of the Rent for the remainder of the Term less the present value of the fair market rental value (and in computing the fair market rental value the factors taken into account shall include without limitation the market rental concessions and the time necessary to relet the Leased Premises) of the Leased Premises for said period (in each case using a discount rate of eight percent (8%) per annum), and (E) any other sum of money and damages owed by TenantTenant to Landlord; or
(ciii) failure Landlord may terminate Tenant's right of possession (but not this Lease) and may repossess the Leased Premises by forcible entry or detainer suit or otherwise without demand or notice of any kind to use Tenant and without terminating this Lease, and remove all persons or property therefrom, using such force as may be necessary (Tenant hereby waiving any claim by reason of such reentry, repossession or removal or by issuance of any distress warrant or writ of sequestration), in which event Landlord may (but shall be under no obligation to do so unless required by law), relet the Leased Premises solely or any part thereof for the Permitted Useaccount of Tenant for such rent and upon such terms as shall be satisfactory to Landlord (however, to the extent Landlord is so required by law to relet the Leased Premises, Landlord shall be under no obligation to relet the Leased Premises or any portion thereof in preference to any other space in the Project or on terms unsatisfactory to Landlord). For the purpose of such reletting Landlord is authorized to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises, or provide leasing inducements or brokerage commissions that may be necessary or convenient, and (A) if Landlord shall fail or refuse to relet the Leased Premises, or (B) if relet and a sufficient sum shall not be realized from such reletting (after paying the unpaid amounts due hereunder earned but unpaid at the time of reletting plus interest thereon at the Interest Rate, the cost of recovering possession [including, without limitation, attorneys' fees and costs of suit], all of the costs and expenses of such decorations, repairs, changes, alterations and additions and all other expenses of such reletting [including, without limitation, leasing inducements and brokerage commission] and of the collection of the rent accruing therefrom) to satisfy the Rent provided for in this Lease to be paid, then Tenant shall pay to Landlord as determined by Port damages a sum equal to the amount of the rental reserved in its sole this Lease for such period or periods or, if the Leased Premises have been relet, Tenant shall satisfy and absolute discretion pay any such deficiency upon demand therefor from time to time as the same accrues or becomes due. Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 6.8 from time to time on one or more occasions without Landlord being obligated to wait until expiration of the Term, and no delivery or recovery of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such failure continues for reletting be construed as an election on the part of Landlord to terminate this Lease unless a period of twenty-four (24) hours following written notice from Portof such intention be given to Tenant by Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. If Landlord re-enters the Leased Premises or terminates this Lease pursuant to any of the provisions of this Lease, Tenant hereby waives all claims for damages which may be caused by such re-entry or termination by Landlord. No such re-entry or termination shall be considered or construed to be a forcible entry; or
(iv) Landlord is entitled and is hereby authorized, without any further notice to Tenant whatsoever, to enter upon the Leased Premises by use of a master key, a duplicate key, picking the locks, or other peaceable means, and to change, alter, and/or modify the door locks on all entry doors of the Leased Premises, thereby excluding Tenant, and its officers, principals, agents, employees, visitors and representatives therefrom. In the event that Landlord has either terminated Tenant's right of possession to the Leased Premises pursuant to the foregoing provisions of this Lease, or has terminated this Lease by reason of the Event of Default, Landlord shall not thereafter be obligated to provide Tenant with a key to the Leased Premises at any time; provided, however, that notwithstanding in any such instance, during Landlord's normal business hours and at the foregoingconvenience of Landlord, failure and upon the written request of Tenant accompanied by such written waivers and releases as Landlord may require, Landlord will escort Tenant or its authorized personnel to use the Leased Premises solely for to retrieve any personal belongings or other property of Tenant not subject to Landlord's liens available under applicable laws. If Landlord elects to exclude Tenant from the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach Leased Premises without permanently repossessing the Leased Premises or terminating this Lease pursuant to the foregoing provisions of this Lease, allowing Port then Landlord (at any time prior to immediately terminate this Lease without notice permanent repossession or demand termination) shall not be obligated to Tenant; or
(d) failure by provide Tenant a key to execute re-enter the Leased Premises until such time as all delinquent Rent has been paid in full and deliver all other Events of Default, if any, have been completely cured to Port the estoppel certificate within the time period and in the manner required by Section 32 belowLandlord's satisfaction, and Landlord has been given assurance reasonably satisfactory to Landlord evidencing Tenant's failure ability to cure the foregoing default within five (5) days following satisfy its remaining obligations under this Lease. During any such temporary period of exclusion, Landlord will, during Landlord's regular business hours and at Landlord's convenience, upon written notice from Port; or
(e) a Transferrequest by Tenant, escort Tenant or attempted Transfer, of this Lease or the Premises by Tenant contrary its authorized personnel to the provision Leased Premises to retrieve personal belongings of Section 20 above; or
(f) failure Tenant or its employees, and such other property of Tenant as is not subject to provide evidence of insurance coverage complying with the Landlord's liens available under applicable laws. The provisions hereof shall override and control any conflicting provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except 93.002 of the Texas Property Code (as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightamended).
Appears in 1 contract
Default by Tenant. Any (a) The occurrence of any of the following shall constitute an event of default (the "Event of Default":
(i) Any installment of Base Rent or Additional Rent required to be paid by Tenant hereunder:
, or any part thereof shall at any time be in arrears and unpaid for five (a) failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues for a period of three (35) days following after written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Portthereof; provided, however, that notwithstanding the foregoingsuch notice and such grace period shall be required to be provided by Landlord and shall be accorded Tenant, failure to use the Premises solely for the Permitted Use shallif necessary, at Port's sole and absolute discretiononly two (2) times during any twelve (12) month period, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(dii) failure by There is any default or breach on the part of Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 belowobservance or performance of any of the other covenants, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transferagreements, or attempted Transfer, conditions of this Lease or on the Premises by part of Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, kept and performed and said default or if any such insurance breach shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence continue for a period of such coverage or failure to reinstate such coverage, all within three thirty (330) business days following after written notice thereof from Port; or
Landlord to Tenant (g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If unless such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days and in such case, Tenant shall have commenced to cure such default; said default within said thirty (30) days and thereafter continue diligently to pursue to completion the curing of same), or
(hiii) The leasehold estate hereby created shall be taken on execution or by other process of law, or
(iv) Tenant shall fail to deliver within ten (10) days after a request therefor any document described in Sections 13 or 21 hereof.
(b) If and whenever any Event of Default as defined above or elsewhere in this Lease shall occur, Landlord shall have the right at its election then or at any time thereafter to pursue any one or more of the following remedies in addition to all other rights or remedies provided herein or at law or in equity:
(i) Re-enter the Premises, and take possession thereof in accordance with the process of law, and eject all parties in possession therefrom, using such force for that purpose as may be necessary, without limiting being liable to any prosecution for said re-entry or the provisions use of Sections 21(c) such force, and, without terminating this Lease, at any time and from time to time relet the Premises or 21(g) aboveany part thereof for the account of Tenant or otherwise, failure receive and collect the rents therefor, applying the same first to payment of such reasonable expenses as Landlord may have paid, assumed or incurred in recovering possession of the Premises, including, without limitation, costs, expenses and reasonable attorney's fees, brokerage and reasonable remodeling of the Premises, paid, assumed or incurred by Landlord in connection with reletting the Premises, and then to the fulfillment of the covenants of Tenant. Any such reletting as provided for herein may be for the remainder of the Term as originally granted or for a longer or shorter period. Landlord may execute any lease made pursuant to the terms hereof in Landlord's own name and Tenant shall have no right or authority whatever to collect any rent whatever from such Subtenant. In any case and whether or not the Premises or any part thereof be relet, Tenant shall pay to Landlord all sums required to be paid by Tenant up to comply the time of re-entry by Landlord, and thereafter Tenant shall, if required by Landlord, pay to Landlord until the end of the Term, the equivalent amount of all rent and other charges required to be paid by Tenant under the terms of this Lease, less the rent actually received by Landlord from any such reletting during the Term, if any, after payment of the expenses of Landlord as aforesaid, and the same shall be due and payable on the several rent days herein specified. No such re-entry by Landlord shall constitute an election to terminate this Lease unless and until Landlord thereafter gives Tenant written notice of Landlord's election to terminate this Lease. Actions to collect any amounts due by Tenant as provided in this Section 15 may be brought from time to time on one or more occasions without the necessity of Landlord's waiting until expiration of the Term;
(ii) Terminate this Lease, and with Laws the process of law, expel and remove Tenant's failure , or any other person or persons in occupancy from the Premises, together with their goods and chattels, using such force as may be necessary in the judgment of Landlord or its agents in so doing, and repossess and enjoy said Premises together with all improvements, additions, alterations, equipment and fixtures thereon, and in addition to cure any other remedy it may have, Landlord may recover from Tenant all reasonable damages it may incur by reason of such breach by Tenant.
(c) Landlord shall use commercially reasonable efforts to re-let the foregoing Premises to mitigate its damages upon the occurrence of an event of default within fortyunder this Lease. For the purposes hereof, “commercially reasonable efforts” shall mean the following actions, which actions shall create an irrebuttable presumption that Landlord has fulfilled such obligation: (i) Landlord shall include the availability of the Premises in Landlord’s leasing flyers sent to brokers (if any), commencing following Landlord’s recovery of possession of the Premises, and ending upon re-eightleasing of the Premises; and/or (ii) Landlord shall engage an independent commercial real estate broker to re-let the Premises, the cost and expense of which shall be an element of Landlord’s damages in addition to any other damages recoverable pursuant to this Lease. Nothing contained herein shall require Landlord to re-let the Premises prior to or with any preference over the leasing of any other similar premises of Landlord in the Project.
(d) Notwithstanding anything in this Lease to the contract, neither party shall be responsible or liable to the other for any special, indirect, or consequential damages (other than Tenant’s liability expressly described in Section 17 below if Tenant holds over). In addition, Landlord waives its right to distraint on Tenant’s Property, whether under common law or otherwise.
Appears in 1 contract
Default by Tenant. Any 17.1 Each of the following shall constitute an event of be deemed a default (the "Event of Default") by Tenant hereunderand breach of this lease:
(a1) failure (i) filing of a petition by the Tenant for adjudication as a bankrupt, or for reorganization, or for an arrangement under any federal or state statute; (ii) dissolution or liquidation of the Tenant; (iii) appointment of a permanent receiver or a permanent. trustee of all or substantially all the Property of the Tenant; (iv) taking possession of the property of the Tenant by a governmental officer or agency pursuant to pay statutory authority for dissolution, rehabilitation, reorganization or liquidation of the Tenant; (v) making by the Tenant of an assignment for the benefit of creditors; or (vi) abandonment, desertion or vacation of the Leased Premises by Tenant. If any event mentioned in this subdivision (1) shall occur, Landlord may thereupon or at any time thereafter elect to Port any cancel this lease by ten (10) days' notice to the Tenant, and this lease shall terminate on the day in such notice specified with the same force and effect as if that date were the date herein fixed for the expiration of the term of the lease.
(i) Default in the payment of the Base Rent or other sum payable hereunder when due, and such default continues additional rent herein reserved or any part thereof for a period of three seven (37) days following written notice from Port. Notwithstanding after the foregoing, Port shall not be required to provide such notice more than twice during same is due and payable as in this lease required.
(ii) A default in the performance of any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event other covenant or condition of Default by Tenant hereunder without any further action by Port or opportunity this lease on the part of the Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues performed for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days after notice. For purposes of this subdivision (2)(ii) hereof, no default on the part of Tenant in performance of work required to cure such default; or
(h) without limiting the provisions of Sections 21(c) be performed or 21(g) above, failure acts to be done or conditions to be modified shall be deemed to exist if steps shall have been commenced by Tenant diligently after notice to comply rectify the same and shall be prosecuted to completion with Laws reasonable diligence, subject, however, to unavoidable delays.
17.2 In case of any such default under Article 17.1(2) and at any time thereafter following the expiration of the respective grace periods above mentioned, Landlord may serve a notice upon the Tenant electing to terminate this lease upon a specified date not less than seven (7) days after the date of serving such notice and this lease shall then expire on the date so specified as if that date has been originally fixed as the expiration date of the term herein granted; however, a default under Article 17.1(2) hereof shall be deemed waived if such default is made good before the date specified for termination in the notice of termination served on Tenant's failure . In addition, Landlord shall have the right to cure terminate this Lease in the foregoing default within forty-eightevent that Tenant is consistently late in the punctual payment of Base Rent and/or Additional Rent required to be paid under this Lease as shall be evidenced by late
Appears in 1 contract
Sources: Lease Agreement (Loehmanns Inc)
Default by Tenant. Any of 19.1. Tenant expressly agrees as follows:
19.1.1. In the following shall constitute an event of default (the "Event of Default") by Tenant hereunder:
(a) any failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure pay any installment of Minimum Rent or additional rent or any other payment required to be made by Tenant within ten (10) days after it is due hereunder, or if this Lease or any portion of Tenant's interest hereunder be assigned or the Premises or any portion thereof be sublet, either voluntarily or by operation of law, except as may be required by Section 1161 herein provided, or if Tenant defaults in performing any of the California Code of Civil Procedure; or
(b) abandonment other terms, conditions or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, covenants of this Lease to be observed or the Premises performed by Tenant contrary for more than thirty (30) days after notice of such other default shall have been given to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, [or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence the default is of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default nature as cannot reasonably be cured within such twenty-four thirty (2430) hour day period, Tenant such additional times (not to exceed ninety (90) days) as shall not be in default of this Lease if reasonably required so long as Tenant commences to cure the such default within such twenty-four said thirty (2430) hour day period and diligently and in good faith continues pursues the same to cure completion], or if Tenant's interest in this Lease shall be taken under any writ of execution, then, and in any one or more of such events (herein sometimes referred to as an "Event of Default"), Landlord shall have the defaultimmediate right to reenter the Premises, either by summary proceedings, by force or otherwise, and to dispossess Tenant and all other occupants therefrom and remove and dispose of all property therein or, at Landlord's election, to store such property in a public warehouse or elsewhere at the cost of, and for the account of, Tenant, all without service of any notice of intention to reenter and with or without resort to legal process and without Landlord being deemed guilty of trespass or becoming liable for any loss or damage which may be occasioned thereby. Upon the occurrence of any such Event of Default, Landlord shall also have the right, at its option, in addition to and not in limitation of any other right or remedy, to terminate this Lease by giving Tenant notice of cancellation and upon mailing of said notice, this Lease and the Term shall end and expire as fully and completely as if the date of said notice were the date herein definitely fixed for the end and expiration of this Lease and the Term and thereupon, unless Landlord shall have theretofore elected to reenter the Premises, Landlord shall have the immediate right of reentry, in the manner aforesaid, and Tenant and all other occupants shall quit and surrender the Premises to Landlord, but Tenant shall remain liable as hereinafter provided; provided, however, that if Tenant shall default (i) in the timely payment of any Minimum Rent or any item of additional rent payable hereunder and any such default shall continue or be repeated for two (2) consecutive months, or for a total of four (4) months in any period of twelve (12) months, or (ii) in the performance of any other covenants of this Lease more than six (6) times, in the aggregate, in any period of twelve (12) months, then, notwithstanding that such defaults shall have been cured within the period after notice as above provided, any further similar default shall be deemed to be deliberate and Landlord thereafter may serve said notice of cancellation without affording to Tenant an opportunity to cure such further default.
19.1.2. If by reason of the occurrence of any such Event of Default, the Term shall end before the date therefore originally fixed herein, or Landlord shall reenter the Premises, or Tenant shall be ejected, dispossessed, or removed therefrom by summary proceedings or in any other manner, Landlord at any time thereafter may relet the Premises, or any part or parts thereof, either in the name of Landlord or as agent for Tenant, for a term or terms which, at Landlord's option, may be less than or exceed the period of the remainder of the Term or which otherwise would have constituted the balance of the Term and grant concessions or free rent. Landlord shall receive the rents from such reletting and shall apply the same, first, to the payment of any indebtedness other than Minimum Rent or any item of additional rent due hereunder from Tenant to Landlord; second, to the payment of such third party expenses as Landlord may have incurred in connection with reentering, ejecting, removing, dispossessing, reletting, altering, repairing, redecorating, subdividing, or otherwise preparing the Premises for reletting, including brokerage and attorneys' fees; and the residue, if any, Landlord shall apply to the fulfillment of the terms, conditions and covenants of Tenant hereunder and Tenant hereby waives all claims to the surplus, if any. Tenant shall be liable for and shall pay Landlord any deficiency between the Minimum Rent and all items of additional rent reserved herein and the net avails as aforesaid, of reletting, if any, for each month of the period which otherwise would have constituted the balance of the Term. Tenant shall pay such deficiency on an accelerated basis as provided under Section 19.1.4 below (including the discount provided therein) or, at Landlord's sole option, in monthly installments on the rent days specified in this Lease, and any suit or proceeding brought to collect the deficiency for any month, either during the Term or after any termination thereof, shall not prejudice or preclude in any way the rights of Landlord to collect the deficiency for any subsequent month by a similar suit or proceeding. Landlord shall in no event be liable in any way whatsoever for the failure to relet the Premises or, in the event of such reletting, for failure to collect the rents reserved thereunder. Landlord is hereby authorized and empowered to make such repairs, alterations, decorations, subdivisions or other preparations for the reletting of the Premises as Landlord shall deem fit, advisable and necessary, without in any way releasing Tenant have more than thirty (30) days from any liability hereunder, as aforesaid.
19.1.3. No such reentry or taking possession of the Premises by Landlord shall be construed as an election on its part to cure terminate this Lease unless notice of such default; orintention be given to Tenant or unless the termination thereof shall result as a matter of law or be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach.
(h) without limiting 19.1.4. In the event this Lease is terminated pursuant to the provisions of Sections 21(c) 19.1, or 21(gterminates pursuant to the provisions of Section 19.2 hereof, Landlord may recover from Tenant all damages it may sustain by reason of Tenant's default, including the third party cost of recovering the Premises and attorneys' fees, and, upon so electing and in lieu of the damages that may be recoverable under subsection (b) above, failure Landlord shall be entitled to recover from Tenant, as and for Landlord's damages, an amount equal to the difference between the Minimum Rent and all items of additional rents reserved hereunder for the period which otherwise would have constituted the balance of Term and the then present rental value of the Premises for such period, both discounted in accordance with accepted financial practice to the then present worth, at the average rate established and announced for United States Treasury Bills, with a maturity of thirteen (13) weeks at the four (4) weekly auctions held immediately prior to the date of such termination [the four (4) week average ▇▇▇▇ rate], all of which shall immediately be due and payable by Tenant to comply with Laws Landlord. In determining the rental value of the Premises, the rental realized by any reletting, if such reletting be accomplished by Landlord within a reasonable time after the termination of this Lease, shall be deemed prima facie to be the rental value, but if Landlord shall not undertake to relet or having undertaken to relet, has not accomplished reletting, then it will be conclusively presumed that the Minimum Rent and all items of additional rent reserved under this Lease represent the rental value of the Premises for the purposes hereof (in which event Landlord may recover from Tenant, the full total of all Minimum Rent and all items of additional rent due hereunder, discounted to present value as hereinbefore provided). Landlord shall be obliged, however, to account to Tenant for the Minimum Rent and additional rents received from persons using or occupying the Premises during the period representing that which would have constituted the balance of the Term, but only at the end of said period, and only if Tenant shall have paid to Landlord its damages as provided herein, and only to the extent of sums recovered from Tenant as Landlord's damages, Tenant waiving any claim to any surplus. Nothing herein contained, however, shall limit or prejudice the right of Landlord to prove and obtain as damages by reason of such termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to, or less than the amounts referred to in Section 19.1.2 or Section 19.1.4.
19.1.5. In the event Landlord commences any action or proceeding under this Lease, including, but not limited to, actions for recovery of Minimum Rent and items of additional rent and actions for recovery of possession, Tenant shall not interpose any counterclaim of any nature or description in any such action or proceeding (other than a compulsory counterclaim under Ohio Rule of Civil Procedure 13 or any comparable rule of civil procedure). The foregoing, however, shall not be construed as a waiver of Tenant's right to assert such claim in a separate action or proceeding instituted by Tenant.
19.1.6. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws, in the event Tenant shall be evicted or dispossessed from the Premises for any cause, or Landlord reenters the Premises following the occurrence of any Event of Default hereunder, or this Lease is terminated before the expiration date thereof originally fixed herein.
19.1.7. No waiver of any covenant or condition or of the breach of any covenant or condition of this Lease shall be taken to constitute a waiver of any subsequent breach of such covenant or condition nor to justify or authorize the nonobservance on any other occasion of the same or of any other covenant or condition hereof, nor shall the acceptance of Minimum Rent or any item of additional rent by Landlord at any time when Tenant is in default under any covenant or condition hereof, be construed as a waiver of such default or of Landlord's right to terminate this Lease on account of such default, nor shall any waiver or indulgence granted by Landlord to Tenant be taken as an estoppel against Landlord, it being expressly understood that if at any time Tenant shall be in default in any of its covenants or conditions hereunder, an acceptance by Landlord of Minimum Rent or any item of additional rent during the continuance of such default or the failure on the part of Landlord promptly to cure avail itself of such other rights or remedies as Landlord may have, shall not be construed as a waiver of such default, but Landlord may at any time thereafter, if such default continues, terminate this Lease on account of such default in the foregoing default within forty-eightmanner herein provided.
19.1.8. In the event of any breach or threatened breach by Tenant of any of the terms and provisions of this Lease, Landlord shall have the right to seek injunctive relief as if no other remedies were provided herein for such breach.
19.1.9. The rights and remedies herein reserved by, or granted to, Landlord are distinct, separate and cumulative, and the exercise of any one of them shall not be deemed to preclude, waive or prejudice Landlord's right to exercise any or all others.
19.1.10. If an Event of Default shall occur hereunder prior to the date fixed as the commencement of any renewal or extension of this Lease, whether by a renewal option herein contained or by a separate agreement, Landlord may, prior to the commence of the Renewal Term, cancel such option or agreement for renewal or extension of this Lease, upon two (2) days' notice to Tenant.
Appears in 1 contract
Default by Tenant. Any The occurrence of any one or more of the following events shall constitute an event of default (the "Event of Default") a material breach by Tenant hereunderTenant:
(a) The failure by Tenant to pay make any payment of rent or any other payment required to Port any Rent or other sum payable hereunder be made by Tenant hereunder, as and when due, and where such default continues failure shall continue for a period of three ten (310) days following after receipt by Tenant of written notice thereof from Port. Notwithstanding the foregoingLandlord provided, Port shall not be required to provide however, that any such notice more than twice during any 12-month periodshall be in lieu of, and not in addition to, any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant notice required pursuant to cure except as may be required by Section 1161 1151 of the California Code of Civil Procedure; orProcedure regarding unlawful detainer proceedings;
(b) abandonment The failure by Tenant to observe or vacation perform any of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Usecovenants, as determined by Port in its sole and absolute discretion and conditions or provisions of this Lease where such failure continues shall continue for a period of twenty-four thirty (2430) hours following days after receipt by Tenant of written notice thereof from PortLandlord; provided, however, that notwithstanding if the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach nature of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing ’s default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any is such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default that it cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default solely by payment of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period money and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have that more than thirty (30) days may be reasonably required for such cure, then Tenant shall not be deemed to be in default if Tenant shall commence such cure within such default; orthirty (30) day period and shall thereafter diligently prosecute such cure to completion;
(hi) without limiting the provisions making of Sections 21(c) any general arrangement or 21(g) above, failure any assignment by Tenant for the benefit of creditors;
(ii) the filing by or against Tenant of a petition to comply with Laws and have Tenant adjudged a bankrupt or a petition of reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant's failure , the petition is dismissed within ninety (90) days);
(iii) the appointment of a trustee or receiver to cure take possession of substantially all of Tenant’s assets;
(iv) the foregoing default within forty-eightattachment, execution or other judicial seizure of substantially all of Tenant’s assets.
Appears in 1 contract
Default by Tenant. Any The occurrence of any one or more of the following events shall constitute an event be a default and breach of default (the "Event of Default") this Lease by Tenant hereunderTenant:
(ai) failure Tenant shall fail to pay to Port any monthly installment of Base Rent or other sum Additional Rent or Rent Adjustment when the same shall be due and payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for ten (10) days after notice thereof from Landlord provided notice shall only be required to be given one time each calendar year and a default and breach shall thereafter occur if Tenant fails to pay any such items within ten (10) days after the same shall be due and payable;
(ii) Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of twenty-four thirty (2430) hours following written days after notice thereof from PortLandlord; provided, however, that notwithstanding if the foregoingterm, failure condition, covenant or obligation to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure performed by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence is of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with nature that the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default same cannot reasonably be cured performed within such twentythirty-four (24) hour day period, Tenant such default shall not be in default of this Lease deemed to have been cured if Tenant commences to cure the default such performance within such twentysaid thirty-four (24) hour day period and thereafter diligently undertakes to complete the same, but in any event completes cure within ninety (90) days after notice from Landlord;
(iii) Intentionally omitted;
(iv) ▇▇▇▇▇▇ makes an assignment for the benefit of creditors; or substantially all of Tenant’s assets in, on or about the Premises or Tenant’s interest in this Lease are attached or levied upon under execution and in good faith continues to cure ▇▇▇▇▇▇ does not discharge the default, provided, however, in no event shall Tenant have more than same within thirty (30) days to cure such defaultthereafter; or
(hv) without limiting Tenant causes or permits a hazardous condition to exist on the provisions of Sections 21(cPremises and fails to cure such condition within ten (10) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or 21(g) above, failure obligation to be performed by Tenant is of such nature that the same cannot reasonably be performed within such ten-day period, such default shall be deemed to comply with Laws have been cured if Tenant commences such performance within said ten-day period and Tenant's failure thereafter diligently undertakes to cure complete the foregoing default same within forty-eightsixty (60) days from the original notice to ▇▇▇▇▇▇.
Appears in 1 contract
Sources: Office Lease (MBX Biosciences, Inc.)
Default by Tenant. Any 8.01 If, (i) the Tenant neglects or fails to pay the rent herein reserved or any part thereof when due and payable, as herein provided, or if the Tenant neglects or fails to perform or observe any of the following shall constitute an event of default (other covenants, agreements or provisions contained in this Lease which, on the "Event of Default") by Tenant hereunder:
(a) Tenant's part, are to be performed or observed, and such neglect or failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues rent shall continue for a period of three fifteen (315) days following after written notice from Port. Notwithstanding Landlord, or any default in the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port observance or opportunity of Tenant to cure except as may be required by Section 1161 performance of the California Code of Civil Procedure; or
(b) abandonment other covenants, agreements or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely provisions shall continue for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days after written notice from Landlord without, in either case, Tenant's having commenced diligently to cure remedy such default; or, or (i.) if the leasehold hereby created shall be taken on execution, or by other process of law, or (iii) if any assignment shall be made of Tenant's property for the benefit of creditors, or if a receiver, trustee in bankruptcy, or similar officer shall be appointed to take charge of all or any part of the Tenants property by a court of competent jurisdiction, or if a petition is filed by the Tenant seeking an adjudication of itself as bankrupt or insolvent under any bankruptcy law or if an involuntary petition is filed against the Tenant and the appointment of such receiver, trustee or similar officer shall not be vacated or the proceeding in bankruptcy or insolvency shall not be dismissed within sixty (60) days then, and in any of the said cases, the Landlord lawfully may immediately, or at any time thereafter, and without demand or notice enter upon the Leased Premises or any part thereof, in the name of the whole and repossess the same as of the Landlord's former estate, and expel the Tenant and those claiming through or under the Tenant and remove their effects, forcibly if necessary, without being deemed liable for any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or preceding breach of covenant, and upon such re-entry and declaration this Lease shall terminate.
(h) without limiting 8.02 Tenant covenants that, in case of such termination, or in case of termination under the provisions of Sections 21(cstatute by reason of the default of the Tenant, the Tenant will pay to the Landlord as damages on each rent day a sum equal to one-twelfth of the Annual Fixed Rent for the remainder of the Term (but not assuming any extension unless so elected) and, when and as due, any sum or 21(g) abovesums which would have accrued and been payable as additional rent under the terms hereof had this Lease continued in force, failure less any amounts actually received by the Landlord as compensation for the use and occupancy or rental of the Leased Premises, after deducting reasonable costs and expenses incurred in connection therewith. Landlord shall diligently undertake to relet the Leased Premises to mitigate any damages payable by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eighthereunder.
Appears in 1 contract
Default by Tenant. Any (a) The occurrence of each of the following shall constitute be deemed an event of default (the "Event of Default") by Tenant " hereunder:
(ai) failure if Tenant shall fail to pay to Port when due any installment of (i) Base Annual Rental or Base Rooftop Rental Rent or other sum payable hereunder when due, and such default failure continues for a period 5 days after Landlord's delivery to Tenant of three notice of such non-payment or (3ii) Additional Rent and such failure continues for 10 days following written after Landlord's delivery to Tenant of notice from Port. Notwithstanding the foregoingof such non-payment; except that, Port in each case, in no event shall not Landlord be required to provide such notice and opportunity to cure with respect to more than twice three (3) such defaults during any 12-month period; or
(ii) if Tenant shall default in the performance of any of the other covenants or conditions not covered by other clauses in this Section 5.10 which Tenant is required to observe and to perform, and any such failure default shall continue for 30 days after written notice thereof given by Landlord to Tenant after (which such notice shall specify in reasonable detail the nature of such default); provided, however, if the nature of the default is such that it cannot be cured with the exercise of commercially reasonable efforts within such 30-day period, then (1) Tenant has received two shall have up to 90 days from the date of Landlord's notice to cure such default, provided that Tenant commences such curative action within the initial 30-day period and, thereafter, diligently and continuously proceeds with such curative action using commercially reasonable efforts to so cure such default and (2) such notices in such 12-month period subject to the requirements of this subsection, it shall constitute not be deemed an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedureuntil such additional time has elapsed; or
(biii) abandonment if Tenant's interest under this Lease shall be levied upon pursuant to execution or vacation other legal process, or if any petition shall be filed by or against Tenant to declare Tenant a bankrupt or to delay, reduce or modify Tenant's debts or obligations, or if any petition shall be filed or other action taken to reorganize or modify Tenant's capital structure if Tenant be a corporation or other entity and such proceeding is not dismissed or set aside within 60 days after the date of filing (except that such 60-day cure period shall not apply if such filing is made by Tenant or any Affiliate of Tenant); or
(iv) if Tenant shall be declared insolvent according to law; or
(v) if Tenant is a corporation, limited partnership or limited liability company and Tenant shall cease to exist as a corporation in good standing under either the laws of the State of Texas or the state of its formation or if Tenant is a partnership or other entity and shall be dissolved or otherwise liquidated; or
(vi) if Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable Legal Requirements, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property, or
(vii) if, (1) within 90 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable Legal Requirements, such proceeding shall not have been dismissed, or (2) within 90 days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property, without the consent or acquiescence of Tenant, such appointment shall not have been vacated or otherwise discharged, or (3) subject to Section 4.13. any lien, execution or attachment or other similar filing shall be made or issued against Tenant or any of Tenant's property pursuant to which the Leased Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant; or
(cviii) failure if Tenant shall timely fail to use deliver any document required by Section 4.10 or 4.11.
(b) Upon the occurrence of an Event of Default, Landlord, at Landlord's option, may pursue any one or more of the following described remedies in addition to all other rights and remedies available at law or in equity:
(i) Landlord may terminate this Lease and forthwith repossess the Leased Premises solely and be entitled to recover forthwith as damages a sum of money equal to the total of (1) the cost of recovering the Leased Premises, (2) the unpaid Rent earned at the time of termination, plus interest thereon at the maximum non-usurious rate per annum from the due date until paid, (3) the present value of the balance of the Rent for the Permitted Useremainder of the Term (discounted at 6% per annum) less the fair market rental value of the Leased Premises for said period and (4) any other sum of money and damages owed by Tenant to Landlord.
(ii) Landlord may terminate Tenant's right of possession (but not this Lease) and may repossess the Leased Premises by forcible entry of detainer suit or otherwise, without demand or notice of any kind to Tenant and without terminating this Lease, in which event Landlord may, but shall be under no obligation to do so, relet the same for the account of Tenant for such rent and upon such terms as determined by Port shall be satisfactory to Landlord. For the purpose of such reletting Landlord is authorized to decorate or to make any repairs, changes, alterations or additions in its sole or to the Leased Premises that may be necessary or convenient, and absolute discretion (1) if Landlord shall fail to relet the Leased Premises, or (2) if the same are relet and a sufficient sum shall not be realized from such failure continues for a period reletting after paying the unpaid Rent due hereunder plus interest at the maximum non-usurious rate thereon, the cost of twenty-four recovering possession, and all of the costs and expenses of such decorations, repairs, changes, alterations and additions and the expense of such reletting (24) hours following written notice from Port; provided, however, that notwithstanding if the foregoing, failure to use new lease has a term that extends beyond the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach then remaining term of this Lease (not including any unexercised renewal or extension terms), Tenant shall only bear an appropriate share of such amounts taking into account, among other things, the term of the new lease versus the remaining term of this Lease and any deficiency between the amount of rent payable under the new lease and the Rent payable under this Lease) and of the collection of the rent accruing therefrom to satisfy the rent provided for in this Lease to be paid, allowing Port then Tenant shall pay to immediately Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, or if the Leased Premises have been relet, the Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 5.10(b) from time to time, and that no delivery to or recovery of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such reletting without notice or demand termination, Landlord may at any time thereafter elect to Tenant; orterminate this Lease for such previous breach.
(diii) failure by Landlord or Landlord's agent may change the door locks of the Leased Premises. In such event, Landlord or its agent shall place a written notice on Tenant's front door stating the name and address or telephone number of the individual or company from which a new key may be obtained. The key may be obtained (1) only during Landlord's regular business hours and (2) only upon payment in full of all delinquent Rent. Landlord may lock out Tenant to execute and deliver to Port the estoppel certificate within the time period and in the event of any such default without being deemed in any manner required by Section 32 belowguilty of conversion, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfertrespass, eviction, or attempted Transferforcible entry or detainer; without incurring any liability for any damage, claim or cause of this Lease action resulting therefrom; and without relinquishing any other right or the Premises rights given to Landlord hereunder or by Tenant contrary to the provision operation of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with law or in equity. If Landlord shall violate the provisions of Section 16 abovethis subparagraph, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance Tenant's sole remedy shall be canceled or terminated or shall expire or be reduced or materially changedto recover possession of the Leased Premises and Tenant expressly waives any and all rights and remedies under Section 93.002(g) of the Texas Property Code, except as permitted amended. As expressly provided in Section 93.002(h) of the Texas Property Code, the terms and conditions of this subparagraph of the Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with supersede the provisions of said Section 15 above and Tenant's failure 93.002 to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default extent of this Lease if Tenant commences to cure any conflict between the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eighttwo provisions.
Appears in 1 contract
Sources: Lease Agreement (Transcontinental Gas Pipe Line Corp)
Default by Tenant. Any If (i) default shall be made in the payment of the following shall constitute an event Rent or in the payment of default (the "Event of Default") any other sum required to be paid by Tenant hereunder:
(a) failure to pay to Port any Rent or other sum payable hereunder when due, under this Lease and such default continues shall continue for a period ten (10) business days after Tenant's receipt of three (3) days following written notice from Port. Notwithstanding Landlord, (ii) Tenant shall fail to perform in all material respects any of the foregoing, Port shall not be other covenants which Tenant is required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion perform and such failure continues default shall continue for a period of twenty-four thirty (2430) hours following days after written notice to Tenant from Port; Landlord, provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot be reasonably be cured within such twenty-four said thirty (2430) hour period, day period Tenant shall not be in default of this Lease if Tenant promptly commences to cure the default within and thereafter diligently continues such twenty-four (24) hour period and diligently and in good faith continues efforts to cure the default, provided(iii) Tenant shall make a general assignment for the benefit of its creditors or shall file a voluntary petition for bankruptcy or other reorganization, howeverarrangement, conservation, liquidation, dissolution or similar relief, or (iv) any proceeding is filed against Tenant seeking any relief mentioned or similar to that referred to in no event shall Tenant have more than (iii) above and said proceeding is not discharged within thirty (30) days of the filing thereof or Tenant consents, acquiesces, admits or otherwise approves or agrees to cure any such default; or
(h) without limiting proceeding or such relief, then Landlord may treat the provisions occurrence of Sections 21(c) any one or 21(g) abovemore of the foregoing events as a breach of this Lease, failure and thereupon at its option may, with notice to Tenant, may terminate this Lease and the Term created hereby and recover any sum of money or damages owed by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightLandlord,
Appears in 1 contract
Sources: Lease (Buckeye Ventures, Inc.)
Default by Tenant. Any The occurrence of any of the following events and the expiration of any grace periods hereafter described shall constitute an event of default (the "Event of Default") by Tenant hereunder:" under this Lease on the part of Tenant: ----- -- -------
(a) failure Tenant shall fail to pay any sum to Port any Rent or other sum payable hereunder when duebe paid by Tenant under this Lease, and such default continues failure shall continue for a period of three five (35) days following after Tenant's receipt of written notice from Port. Notwithstanding the foregoing, Port Landlord (provided that Landlord shall not only be required obligated to provide such give Tenant written notice more than twice during of any monetary default once in any twelve (12-) month period, and any such failure by thereafter Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written after failure to make such payment without requirement of notice from Port; orLandlord);
(eb) a Transfer, or attempted Transfer, of Tenant shall assign its interest in this Lease or sublet any portion of the Leased Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease or Tenant shall otherwise breach the provisions of Section 5.4 of this Lease;
(c) a breach shall be made in the performance of any of the other covenants or conditions which Tenant is required to observe and to perform (other than those referred to in subsections (a) and (b) above), and such breach shall continue for fifteen (I5) days after notice from Landlord of such breach (unless with respect to any default which cannot be cured within fifteen (15) days due to causes beyond Tenant's failure reasonable control, Tenant, in good faith, after receiving such notice, shall have commenced and thereafter shall continue diligently to deliver evidence perform all action necessary to cure such default);
(d) if Tenant or any guarantor of this Lease is a corporation, Tenant or any such guarantor shall cease to exist as a corporation in good standing in the state of its incorporation, or, if Tenant or any guarantor of this Lease is a partnership or other entity, Tenant or any such guarantor shall be dissolved or otherwise liquidated;
(e) if the interest of Tenant under this Lease shall be subjected to any attachment, execution, levy or other judicial seizure pursuant to any order or decree entered against Tenant in any legal proceeding that is not stayed (so as to prevent seizure) pending appeal and such order or decree is not vacated or bonded against so as to prevent seizure upon the earlier to occur of (aa) fifteen (15) days prior to the sale of such coverage interest pursuant to such order or failure decree, or (bb) thirty (30) days after entry of the order;
(f) Tenant shall fail or refuse to reinstate such coverage, all move into or take possession of the Leased Premises within three forty-five (345) business days following written notice from Portafter the Commencement Date; or
(g) if a breach occurs under, or any guarantor of this Lease neglects or fails to perform or observe, any covenant, term, provision, or condition contained in any such guaranty of this Lease. If an Event of Default on the part of Tenant shall have occurred under this Lease, then or at any time thereafter while such Event of Default continues, Landlord, at Landlord's option, may have any one or more of the following described remedies in addition to all other rights and remedies provided at law or in equity:
(i) Landlord, with or without terminating this Lease, may immediately or at any time thereafter re-enter the Leased Premises and correct or repair any condition which shall constitute a failure on Tenant's part to keep, observe, perform, satisfy or abide by any term, condition, covenant, agreement or obligation of this Lease and Tenant shall fully reimburse and compensate Landlord on demand for the costs incurred by Landlord in doing so; or
(ii) Landlord may terminate this Lease and forthwith repossess the Leased Premises and remove all persons or property therefrom, and be entitled to recover forthwith as damages a sum of money equal to the total of (A) the cost of recovering the Leased Premises (including, without limitation, attorneys' fees and costs of suit), (B) the cost as reasonably estimated by Landlord of any alterations of, or repairs to, the Leased Premises which are necessary or proper to prepare the same for reletting, (C) the unpaid Rent owed at the time of termination, plus interest thereon from due date at the Interest Rate, (D) the present value of the balance of the Rent for the remainder of the Term less the present value of the fair market rental value (and in computing the fair market rental value the factors taken into account shall include without limitation the market rental concessions and the time necessary to relet the Leased Premises) of the Leased Premises for said period (in each case using a discount rate of eight percent (8%) per annum), and (E) any other sum of money and damages owed by Tenant to comply with Landlord; or
(iii) Landlord may terminate Tenant's right of possession (but not this Lease) and may repossess the Leased Premises by forcible entry or detainer suit or otherwise without demand or notice of any kind to Tenant and without terminating this Lease, and remove all persons or property therefrom, using such force as may be necessary (Tenant hereby waiving any claim by reason of such reentry, repossession or removal or by issuance of any distress warrant or writ of sequestration), in which event Landlord may (but shall be under no obligation to do so unless required by law), relet the Leased Premises or any part thereof for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord (however, to the extent Landlord is so required by law to relet the Leased Premises, Landlord shall be under no obligation to relet the Leased Premises or any portion thereof in preference to any other space in the Project or on terms unsatisfactory to Landlord). For the purpose of such reletting Landlord is authorized to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises, or provide leasing inducements or brokerage commissions that may be necessary or convenient, and (A) if Landlord shall fail or refuse to relet the Leased Premises, or (B) if relet and a sufficient sum shall not be realized from such reletting (after paying the unpaid amounts due hereunder earned but unpaid at the time of reletting plus interest thereon at the Interest Rate, the cost of recovering possession [including, without limitation, attorneys' fees and costs of suit], all of the costs and expenses of such decorations, repairs, changes, alterations and additions and all other expenses of such reletting [including, without limitation, leasing inducements and brokerage commission] and of the collection of the rent accruing therefrom) to satisfy the Rent provided for in this Lease to be paid, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods or, if the Leased Premises have been relet, Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time as the same accrues or becomes due. Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 6.8 from time to time on one or more occasions without Landlord being obligated to wait until expiration of the Term, and no delivery or recovery of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. If Landlord re-enters the Leased Premises or terminates this Lease pursuant to any of the provisions of Section 15 above this Lease, Tenant hereby waives all claims for damages which may be caused by such re-entry or termination by Landlord. No such re-entry or termination shall be considered or construed to be a forcible entry; or
(iv) Landlord is entitled and is hereby authorized, without any notice to Tenant whatsoever, to enter upon the Leased Premises by use of a master key, a duplicate key, picking the locks, or other peaceable means, and to change, alter, and/or modify the door locks on all entry doors of the Leased Premises, thereby excluding Tenant, and its officers, principals, agents, employees, visitors and representatives therefrom. In the event that Landlord has either terminated Tenant's failure right of possession to cure the Leased Premises pursuant to the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour periodprovisions of this Lease, Tenant or has terminated this Lease by reason of the Event of Default, Landlord shall not thereafter be in default of this Lease if obligated to provide Tenant commences with a key to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, Leased Premises at any time; provided, however, that in no event shall any such instance, during Landlord's normal business hours and at the convenience of Landlord, and upon the written request of Tenant have more than thirty (30) days accompanied by such written waivers and releases as Landlord may require, Landlord will escort Tenant or its authorized personnel to cure such default; or
(h) the Leased Premises to retrieve any personal belongings or other property of Tenant not subject to Landlord's liens or security interests described in this Lease or available under applicable laws. If Landlord elects to exclude Tenant from the Leased Premises without limiting permanently repossessing the Leased Premises or terminating this Lease pursuant to the foregoing provisions of Sections 21(cthis Lease, then Landlord (at any time prior to permanent repossession or termination) or 21(g) aboveshall not be obligated to provide Tenant a key to re-enter the Leased Premises until such time as all delinquent Rent has been paid in full and all other Events of Default, failure by Tenant if any, have been completely cured to comply with Laws Landlord's satisfaction, and Landlord has been given assurance reasonably satisfactory to Landlord evidencing Tenant's failure ability to cure satisfy its remaining obligations under this Lease. During any such temporary period of exclusion, Landlord will, during Landlord's regular business hours and at Landlord's convenience, upon written request by Tenant, escort Tenant or its authorized personnel to the foregoing default within forty-eightLeased Premises to retrieve personal belongings of Tenant or its employees, and such other property of Tenant as is not subject to Landlord's liens and security interests described in this Lease or available under applicable laws. The provisions hereof shall override and control any conflicting provisions of Section 93.002 of the Texas Property Code (as amended).
Appears in 1 contract
Sources: Lease Agreement (Zixit Corp)
Default by Tenant. Any The occurrence of any one of the following events shall constitute an event a material default and breach of default this Agreement by Tenant: (i) the "Event abandonment of Default") by Tenant hereunder:
the Premises; (aii) failure to pay to Port make any Rent monthly installment of rent or any other sum payable hereunder payment when due, and as due and such default continues failure shall continue for a period of three thirty (330) days following after written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
or (ciii) failure to use observe or perform any of the Premises solely for the Permitted Usecovenants, as determined by Port in its sole and absolute discretion and conditions or provisions of this Agreement, where such failure continues shall continue for a period of twenty-four sixty (2460) hours following days after written notice from Port; Landlord, provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be deemed to be in default of this Lease if Tenant commences to commenced such cure the default within such twenty-four said sixty (2460) hour days period and thereafter diligently pursues such cure to completion; or (iv) the making by Tenant of any general assignment or general arrangement for the benefit of creditors, or the filing by or for reorganization or arrangement under any law relating to bankruptcy, or the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets or of Tenant's interest in this Agreement, or the attachment, execution or other judicial seizure of substantially all of the Tenant's assets interest in this Agreement, unless any such action is dismissed or discharged within ninety (90) days.
37.1. In the event of any such material default or breach by Tenant, Landlord may at any time thereafter, with notice and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) demand and without limiting Landlord in the provisions exercise of Sections 21(cany right or remedy which Landlord may have by reason of such default or breach: (i) or 21(g) above, failure by Tenant to comply with Laws terminate the Lease Agreement and Tenant's failure right to cure possession of the foregoing default within forty-eightPremises by any lawful means, in which case Tenant shall after notice and demand surrender possession of the Premises; and (ii) pursue any other remedy now or hereafter available to Landlord under the Lease Agreement or by law.
37.2. Should Landlord terminate this Agreement for default, in addition to any other remedies Landlord may have, Landlord may recover from Tenant all damages suffered by reason of such default, including the cost of recovering and reletting the Premises and reasonable attorney's fees.
Appears in 1 contract
Default by Tenant. Any of the (a) The following events shall constitute an event events of default (the "Event of Default") by Tenant hereunderunder this Lease:
(a1) a failure by Tenant to pay to Port any Rent or other sum payable hereunder when due, and to deliver an estoppel certificate (as provided in Paragraph 17 below) where such default failure continues for five (5) days after written notice by Landlord to Tenant;
(2) the bankruptcy or insolvency of Tenant, any transfer by ▇▇▇▇▇▇ to defraud creditors, any assignment by Tenant for the benefit of creditors, or the commencement of any proceedings of any kind by or against Tenant under any provision of the Federal Bankruptcy Act or under any other insolvency, bankruptcy or reorganization act unless, in the event any such proceedings are involuntary, Tenant is discharged from the same within sixty (60) days thereafter; the appointment of a period receiver for a substantial part of three the assets of Tenant; or the levy upon this Lease or any estate of Tenant hereunder by any attachment or execution;
(3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; orPremises;
(c4) the discovery by Landlord that any financial statement given to Landlord by ▇▇▇▇▇▇, any assignee of Tenant, any subtenant of Tenant, any successor in interest of Tenant or any guarantor of Tenant’s obligation hereunder, and any of them, was materially false; and
(5) a failure by Tenant to use perform any of the Premises solely for the Permitted Useterms, as determined covenants, agreements or conditions of this Lease to be observed or performed by Port in its sole and absolute discretion and Tenant (excluding any event of default under Paragraph 14(a)(1) above), where such failure continues for a period of twenty-four thirty (2430) hours following days after written notice from Portthereof by Landlord to Tenant; provided, however, that notwithstanding if the foregoing, failure to use nature of the Premises solely for default is such that the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default same cannot reasonably be cured within such twentythe 30-four (24) hour day period, Tenant shall not be deemed to be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to completion,
(b) In the event of any material de fault or breach by ▇▇▇▇▇▇, Landlord may at any time thereafter, without limiting Landlord in the exercise of any right or remedy at law or in equity which Landlord may have by reason of such default or breach:
(1) Pursue the remedy described in California Civil Code Section 1951.4 whereby Landlord may continue this Lease in full force and effect after ▇▇▇▇▇▇’s breach and abandonment and recover the Rent and any other monetary charges as they become due, without terminating Tenant’s right to sublet or assign this Lease, subject only to reasonable limitations as herein provided. During the period Tenant is in default, Landlord shall have the right to do all acts necessary to preserve and maintain the Premises as Landlord deems reasonable and necessary, including removal of all persons and property from the Premises, and Landlord can enter the Premises and relet them, or any part of them, to third parties for ▇▇▇▇▇▇’s account. Tenant shall be liable immediately to Landlord for all costs Landlord incurs in reletting the Premises, including, without limitation, brokers’ commissions, expenses of remodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining Term.
(2) Pay or perform such obligation due (but shall not be obligated to do so), if Tenant fails to pay or perform any obligations when due under this Lease within the time permitted for their payment or performance. In such case, the costs incurred by Landlord in connection with the performance of any such obligation will be additional tent due under this Lease and will become due and payable on demand by Landlord.
(3) Terminate Tenants rights to possession by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default, including, without limitation, the following: (A) the worth at the time of award of any unpaid Rent which had been earned at the time of such termination; plus (B) the worth at the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such Rent loss that is proved could have been reasonably avoided; plus (C) the worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such Rent loss that is proved could be reasonably avoided; plus (D) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of events would be likely to result therefrom; plus (E) at Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable State law. Upon any such termination of ▇▇▇▇▇▇’s possessory interest in and to the Premises, Tenant (and at Landlord’s sole election, Tenants sublessees) shall no longer have any interest in the Premises, and Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises which Landlord in its sole discretion deems reasonable and necessary. The “worth at the time of award of the amounts referred to in subparagraphs (A) and (B) above is computed by allowing interest at the maximum rate an individual is permitted by law to charge. The worth at the time of award of the amount referred to in subparagraph (C) above is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(4) Pursue any other legal or equitable remedy available to Landlord. Unpaid installments of Rent and other unpaid monetary obligations of Tenant under the terms of this Lease if Tenant commences to cure shall bear interest from the default within such twenty-four date due at the rate of ten percent (2410%) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; orper annum.
(hc) without limiting In the provisions event Tenant is evicted or Landlord takes possession of Sections 21(c) or 21(g) above, failure the Premises by reason of any default by Tenant hereunder, Tenant hereby waives any right of redemption or relief from forfeiture as provided by law.
(d) Even though ▇▇▇▇▇▇ has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to comply with Laws possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover Rent as it becomes due under this Lease. Acts of maintenance or preservation, efforts to relet the Premises, or the appointment of a receiver upon initiative of Landlord to protect Landlord’s interest under this Lease, shall not constitute a termination of Tenant's failure ’s right to cure possession.
(e) In the foregoing event Tenant is in material default within forty-eightunder any provision of this Lease then, at Landlord’s sole election: (i) Tenant shall not have the right to exercise any available right, option or election under this Lease (“Tenant’s Exercise Rights”) if at such time Tenant is in default hereunder, (ii) Tenant shall not have the right to consummate any transaction or event triggered by the exercise of any of Tenant’s Exercise Rights if at such time Tenant is in default hereunder, and (iii) Landlord shall not be obligated to give Tenant any required notices or information relating to the exercise of any of Tenant’s Exercise Rights hereunder.
Appears in 1 contract
Default by Tenant. Any The occurrence of any one or more of the following shall constitute an event of default events (the "Event of Default") shall constitute a breach of this Lease by Tenant hereunderTenant:
(a) failure Tenant fails to pay to Port any Rent Base Rent, or any additi▇▇▇▇ ▇onthly rent under section 3.1 hereof, or any other sum amount of money payable by Tenant hereunder as and when due, such rent becomes due and payable and such default failure continues for a period of three more than five (35) days following after Landlord gives written notice from Port. Notwithstanding thereof to Tenant: provided, however, ▇▇▇▇ ▇▇ter the foregoingsecond such failure in a calendar year, Port only the passage of time, but no further written notice, shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute establish an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of in the California Code of Civil Procedure; same calendar year: or
(b) abandonment Tenant fails to perform or vacation breaches any other agreement or covenant of the Premises this Lease to be performed or observed by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, Tenant as determined by Port in its sole and absolute discretion when performance or observance is due and such failure failur▇ ▇▇ ▇reach continues for a period of twenty-four more than ten (2410) hours following days after Landlord gives written notice from Port; thereof to Tenant: provided, however, that notwithstanding ▇▇▇▇ ▇▇. by the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence nature of such coverage agreement or covenant, such failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default or breach cannot reasonably be cured within such twenty-four period often (2410) hour perioddays, Tenant an Event of Default shall not be in default of this Lease if exist as long as Tenant commences to cure with due diligence and dispatch the default curing of such failure or breach within such twenty-four period often (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (3010) days to cure and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such defaultfailure or breach; or
(hc) without limiting Tenant (i) files, or consents by answer or otherwise to the provisions filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of Sections 21(c) any bankruptcy, insolvency or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightother debtors' relief law of any jurisdiction.
Appears in 1 contract
Default by Tenant. Any 23.1 Each of the following shall constitute events (hereinafter called an event of default (the "Event of Default") shall be a default hereunder by Tenant hereunder:
(a) failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Leaselease:
a) if Tenant shall violate any covenant or agreement providing for the payment of rent, allowing Port including annual net net rent, or additional rent or any other payment required to immediately terminate this Lease without notice be made to Landlord or demand to Tenant; or
(d) failure by Tenant to execute for which Landlord may become liable and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within such violation shall continue for five (5) days following after the written notice from Port; orthe Landlord, it being agreed and understood that if the Landlord shall send three such notices during the term of the lease Tenant shall not be entitled to any such further notice and will be in default automatically upon the failure to pay upon the due date;
(eb) a Transferif Tenant shall assign, transfer, encumber, sublet or attempted Transfer, permit the use of this Lease or the Premises by others except in a manner herein permitted,
c) if Tenant contrary shall be adjudicated a bankrupt and, Tenant does not contest same in good faith with Fifteen (15) days of such adjudication or Tenant is unable to contest same or make any general assignment for the benefit of creditors or take or attempt to take the benefit of any insolvency or bankruptcy legislation;
d) if a receiver or trustee shall be appointed for the property of Tenant and Tenant does not contest same in good faith within Fifteen (15) days of such appointment or Tenant is unable to contest same;
e) if any execution against the property of the Tenant in the Premises be issued pursuant to a judgment rendered against Tenant, and Tenant does not contest same in good faith within Fifteen (15) days of such execution or Tenant is unable to contest same;
f) if Tenant shall be in material default in fulfilling any of the other covenants and conditions of this lease and such default shall continue for five (5) days (or such longer period as is reasonably necessary in the circumstances to remedy such default), after written notice of such default from the Landlord,
g) if any person other than Tenant has or exercises the right to manage or control the Premises, any part thereof, or any of the business carried on therein other than subject to the provision direct and full supervision and control of Section 20 above; orTenant,
(fh) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance contractors, suppliers of materials or workmen shall be canceled register a legal hypothec against the Building or terminated or shall expire or be reduced or materially changed, except the Land as permitted in this Lease and a result of Tenant's failure to deliver evidence pay for any obligations incurred by it unless Tenant puts up security with Landlord with a value equal to One Hundred Fifty percent (150%) of the amount of the legal hypothec, and Tenant contests same in good faith, the whole within fifteen days of the registration;
i) if any person sends to the Tenant a prior notice of the exercise of a hypothecary recourse or a notice withdrawing permission to the Tenant right to collect its receivables and Tenant does not contest same in good faith within Fifteen (15) days of such coverage notice or failure Tenant is unable to reinstate contest same.
23.2 During the continuance of any such coverageEvent of Default, all within three (3) business days following Landlord may, at its option, give to Tenant a written notice from Port; orof its intention to terminate this lease, and the term hereof shall expire at noon upon the fifteenth (15th) day following the date upon which such notice is given as fully and completely as if that day were the date fixed for the expiration of the term without the necessity of any mise en demeure or legal process whatsoever, provided always, however, that Tenant shall remain liable to pay all amounts and damages then due or to become due, including liquidated damages as hereinafter provided. Tenant, upon such a termination of this lease, shall thereupon quit and surrender the Premises to Landlord or if not yet in possession, shall no longer have any right to possession of the Premises. Landlord, its agents and servants, may immediately, or at any time thereafter, re-enter the Premises and dispossess Tenant, and remove any and all persons and any or all property therefrom, either by summary dispossession proceedings or by any suitable action or proceeding at law.
(g) failure by Tenant 23.3 During the continuance of any Event of Default, Landlord may, without terminating this lease, re-enter into possession of the Premises and make such alterations and repairs as are necessary in order to comply with re-let the provisions Premises and Landlord may re-let the Premises upon such terms, covenants and conditions as the Landlord in its sole discretion considers advisable.
23.4 In any of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour periodcases, Tenant shall not pay any and all monies payable under this lease up to and including the day of such termination or re-entry whichever shall be the later; without in any way restricting the foregoing, in the event of any Event of Default pursuant to paragraph 23.1 (c), all arrears of rent and other sums then due and payable pursuant to this lease, plus the rent and additional rent for the then current month and the rent and additional rent for the next ensuing six (6) months shall immediately ipso facto become due and payable to the Landlord and, at the Landlord's option, this lease shall be terminated as of the date on which such Event of Default occurred. In addition, if the lease is terminated by the Landlord in accordance with this Article 23 or if the lease is otherwise terminated pursuant to a default of this Lease if the Tenant, there shall immediately become due and payable by the Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, howeverLandlord, in no event one lump sum as liquidated damages for loss of future rent under this lease, the aggregate rental for a period of one year, being the estimated time required for re-leasing the Premises or, if less than one year remains of the term hereof, the aggregate rental for the unexpired portion of the term, the whole without prejudice to the other rights and recourses of the Landlord.
23.5 The exercise by Landlord of any right it may have hereunder or by law shall not preclude the exercise by Landlord of any other right it may have hereunder or by law.
23.6 Should the Premises be deserted or vacated by the Tenant have or should the Tenant leave in or about the Premises any moveable effects or fixtures for more than thirty eight (30) 8) days after having abandoned or vacated the Premises or after expiry of the lease, the Tenant will be deemed to cure have abandoned them to the Landlord, and the Landlord automatically shall become owner of such default; or
(h) moveable effects or fixtures without limiting compensation to the provisions Tenant. The Landlord may keep, sell or otherwise dispose of Sections 21(c) or 21(g) above, failure by them. The Tenant will be deemed to comply with Laws have waived any claim in damages and Tenant's failure to cure will hold the foregoing default within forty-eightLandlord harmless and indemnified against any claims in connection therewith from whomsoever.
Appears in 1 contract
Sources: Lease Amendment (Lumenon Innovative Lightwave Technology Inc)
Default by Tenant. Any 16.1 Each of the following shall constitute an event of be deemed a default (the "Event of Default") by Tenant hereunderand breach of this Lease:
(ai) failure Filing of a petition by the Tenant for adjudication as a bankrupt, or for reorganization, or for an arrangement under any Federal or State Statute;
(ii) Dissolution or liquidation of the Tenant;
(iii) Appointment of a permanent receiver or a permanent trustee of all or substantially all the property of the Tenant;
(iv) Taking possession of the property of the Tenant by a governmental officer or agency pursuant to pay statutory authority for dissolution, rehabilitation, reorganization or liquidation of the Tenant;
(v) Making by the Tenant of an assignment for the benefit of creditors;
(vi) Abandonment, desertion or vacation of the Leased Premises by the Tenant. If any event mentioned in this subsection (1) shall occur, Landlord may thereupon or at any time thereafter elect to Port any cancel this Lease by ten (10) days notice to the Tenant, and this Lease shall terminate on the day in such notice specified with the same force and effect as if that date were the date herein fixed for the expiration of the term of the Lease.
(i) Default in the payment of the Base Rent or other sum payable hereunder when due, and such default continues additional rent herein reserved or any part thereof for a period of three seven (37) days following written notice from Port. Notwithstanding after the foregoing, Port shall not be required to provide such notice more than twice during same is due and payable as in this Lease required;
(ii) A default in the performance of any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event other covenant or condition of Default by Tenant hereunder without any further action by Port or opportunity this Lease on the part of the Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues performed for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days after notice. For purposes of this subdivision (2) (ii) hereof, no default on the part of Tenant in performance of work required to cure be performed or acts to be done or conditions to be modified shall be deemed to exist if steps shall have been commenced by Tenant diligently after notice to rectify the same and shall be prosecuted to completion with reasonable diligence, subject, however, to unavoidable delays.
16.2 In case of any such defaultdefault under ARTICLE 16.1 (2) and at any time thereafter following the expiration of the respective grace periods above mentioned, or in the event that Tenant is consistently late in the punctual payment of Base Rent and/or additional rent required to be paid under this Lease as shall be evidenced by late payments made during any period of four (4) consecutive months during any twelve (12) month period measured from the date of the first late payment, Landlord may serve a notice upon the Tenant electing to terminate this Lease upon a specified date not less than seven (7) days after the date of serving such notice and this Lease shall then expire on the date so specified as if that date has been originally fixed as the expiration date of the term herein granted; orhowever, a default under ARTICLE 16.1 (2) hereof shall be deemed waived if such default is made good before the date specified for termination in the notice of termination served on Tenant.
16.3 In case this Lease shall be terminated as hereinbefore provided, or by summary proceedings or otherwise, Landlord or its agents may, immediately or any time thereafter, re-enter and resume possession of the Leased Premises or such part thereof, and remove all persons and property therefrom, either by summary proceedings or by a suitable action or proceeding at law without being liable for any damages, provided any entry pursuant to the foregoing shall be in accordance with law. No re-entry by Landlord shall be deemed an acceptance of a surrender of this Lease.
(h1) without limiting In case this Lease is terminated by summary proceedings, or otherwise, as provided in this ARTICLE 16, and whether or not the provisions premises is relet, Landlord shall be entitled to recover from the Tenant, the following:
(i) A sum equal to all expenses, if any, including reasonable counsel fees, incurred by Landlord in recovering possession of Sections 21(c) or 21(g) abovethe Leased Premises, failure and all reasonable costs and charges for the care of said premises while vacant, which damages shall be due and payable by Tenant to comply with Laws Landlord at such time or time as such expenses shall have been incurred by Landlord;
(ii) A sum equal to all damages set forth in this ARTICLE 16 and Tenant's failure in ARTICLE 17 hereinafter referred to.
(2) Without any previous notice or demand, separate actions may be maintained by Landlord against Tenant from time to cure time to recover any damages, which, at the foregoing default commencement of any such action, have then or theretofore become due and payable to the Landlord under this ARTICLE 16 and subsections hereof without waiting until the end of the then current term.
(3) All sums which tenant has agreed to pay by way of taxes, sewer charges, water rents or water meter charges, insurance premiums and other similar items becoming due from time to time under the terms of this Lease, shall be deemed additional rent reserved in this Lease within forty-eightthe meaning of this ARTICLE 16 and subsections hereof.
Appears in 1 contract
Sources: Lease Agreement (Transnet Corp)
Default by Tenant. Any All of the following rights and remedies of Landlord herein enumerated shall constitute an event of default (be cumulative, and none shall exclude any other right or remedy allowed by law. It is agreed that in the "Event of Default") by Tenant hereunderevent:
(ai) failure That the Tenant shall fail, neglect or refuse to pay to Port any installment of Rent or other sum payable hereunder when dueat the time, and in the amount as herein provided, or to pay any other monies agreed by it to be paid promptly when and as the same shall become due and payable under the terms hereof;
(ii) That any voluntary or involuntary petition or similar pleading, under any section or sections of any bankruptcy act, shall be filed by or against Tenant, or any voluntary or involuntary proceeding in any court or tribunal shall be instituted to declare Tenant insolvent or unable to pay Tenant's debts, and the same shall not be dismissed or discharged within thirty (30) days after notice thereof in writing;
(iii) That the Tenant shall fail, neglect or refuse to keep and perform any of the other covenants, conditions, stipulations or agreements herein contained and to be kept and performed by it, and in the event any such default continues shall continue, for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days after notice thereof in writing given to cure the Tenant, by the Landlord; provided, however, that if the cause for giving such default; ornotice involves the making of repairs, or other matters reasonably requiring a longer period of time than the period of such notice, the Tenant shall be deemed to have complied with such notice so long as it has commenced to comply with said notice within the period set forth in the notice, and is diligently prosecuting compliance with said notice, or has taken proper steps or proceedings, under the circumstances, to prevent the seizure, destruction, alteration or other interference with said Demised Premises by reason of non-compliance with the requirements of any law or any ordinance or with the regulations, rules or directions of any government authority, as the case may be;
(hiv) That the Tenant makes any assignment of its property for the benefit of creditors, or should the Demised Premises be taken under a levy of execution or attachment, in an action against the Tenant, and such levy, attachment or assignment is not dismissed and discharged within thirty (30) days after written notice thereof to Tenant by Landlord, the Tenant does hereby authorize and fully empower said Landlord or Landlord's agent to cancel or annul this Lease at once and to re-enter and take possession of said Demised Premises immediately, and remove all persons and their property therefrom, and to use such force and assistance,in effecting and perfecting such removal as said Landlord may deem necessary and advisable to recover at once full and exclusive possession of all of said Demised Premises, whether in possession of said Tenant or of their persons or otherwise. At Landlord's option, Landlord may declare all installments of Rent for the remainder of the lease term, to be immediately due and payable whereupon the same shall become immediately due and payable. The Landlord may, however, at its option, at any time after a default or violation of condition or covenant, re-enter and take possession of said Premises without limiting such re-entering working a forfeiture of the rents to be paid and the covenants, agreements and conditions to be kept and performed by said Tenant for the full term of this Lease. In such event, the Landlord shall have the right, but not the obligation, to divide or subdivide the Premises in any manner the Landlord may determine and to lease or let the same or portions thereof for such periods of time and at such rentals and for such use and upon such covenants and conditions as Landlord may elect, applying the net rentals from such letting first to the payment of Landlord's expenses incurred in dispossessing the Tenant and the costs and expenses of making such improvements in the Premises as may be necessary in order to enable the Landlord to relet the same, and to the payment of any brokerage commissions or other necessary expenses of the Landlord in connection with such reletting. The balance, if any, shall be applied by the Landlord from time to time, but in any event not less than once each month, on account of the payments due or payable by the Tenant hereunder, with the right reserved to Landlord to bring such actions or proceedings for the recovery of any deficits remaining unpaid as it may deem advisable from time to time, without being obligated to await the end of the term hereof for a final determination of the Tenant's account and the commencement or maintenance of one (1) or more actions shall not bar the Landlord from bringing other or subsequent actions for further accruals pursuant to the provisions of Sections 21(c) or 21(g) abovethis Paragraph. Any balance remaining, failure however, after full payment and liquidation of Landlord's account, as aforesaid, shall be paid to the Tenant from time to time with the right reserved to the Landlord at any time to give notice in writing to the Tenant of Landlord's election to cancel and terminate this Lease and all Tenant's obligations hereunder and upon the giving of such notice and the simultaneous payment by Landlord to Tenant of any credit balance in Tenant's favor that may at the time be owing to Tenant shall constitute a final and effective cancellation and termination of this Lease and the obligations thereunder on the part of either party to the other. In addition to the foregoing, collection costs and reasonable attorneys' fees shall be paid by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightif delinquencies are referred for collection.
Appears in 1 contract
Sources: Commercial Office Lease (Ultimate Software Group Inc)
Default by Tenant. Any of the (a) The following events shall constitute an event events of default (the "Event of Default") by Tenant hereunderunder this Lease:
(ai) failure to pay to Port a default by ▇▇▇▇▇▇ in the payment of any Rent rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written after the same is due;
(ii) a default by Tenant in the performance of any of the other terms, covenants, agreements, or conditions contained herein and, if the default is curable, the continuation of such default for a period of ten (10) days after notice from Port. Notwithstanding by Landlord or beyond the foregoing, Port shall not be required time reasonably necessary for cure if the default is of the nature to provide such notice require more than twice during any 12-month periodten (10) days to remedy, and any such failure by Tenant after provided that if Tenant has received two (2) such notices defaulted in such 12the performance of the same obligation one or more times in any twelve-month period and notice of such default has been given by Landlord in each instance, no cure period shall constitute an Event thereafter be applicable hereunder;
(iii) the bankruptcy or insolvency of Default Tenant, any transfer by ▇▇▇▇▇▇ in fraud of creditors, assignment by Tenant hereunder without for the benefit of creditors, or the commencement of any further action proceedings of any kind by Port or opportunity against Tenant under any provision of the Federal Bankruptcy Act or under any other insolvency, bankruptcy or reorganization act unless, in the event any such proceedings are involuntary, Tenant is discharged from the same within sixty (60) days thereafter; the appointment of a receiver for a substantial part of the assets of Tenant; or the levy upon this Lease or any estate of Tenant to cure except as may be required hereunder by Section 1161 any attachment or execution;
(iv) the abandonment of the California Code premises; and
(v) a default by Tenant in the performance of Civil Procedure; orany of the terms, covenants, agreements, or conditions contained in any other lease or agreement between Landlord and Tenant, including that certain Net Office-Tech Lease dated as of January 15, 1998 between Landlord and Tenant for premises located at ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇.
(b) abandonment Upon the occurrence of any event of default by Tenant hereunder, Landlord may, at its option and without any further notice or vacation demand. in addition to any other rights and remedies given hereunder or by law, do any of the Premises following:
(i) Landlord shall have the right, so long as such default continues, to give notice of termination to Tenant, and on the date specified in such notice this Lease shall terminate.
(ii) In the event of any such termination of this Lease, Landlord may then or at any time thereafter, reenter the premises and remove therefrom all persons and property and again repossess and enjoy the premises, without prejudice to any other remedies that Landlord may have by reason of Tenant; or's default or of such termination.
(iii) In the event of any such termination of this Lease, and in addition to any other rights and remedies Landlord may have, Landlord shall have all of the rights and remedies of a landlord provided by Section 1951.2 of the California Civil Code. The amount of damages which Landlord may recover in event of such termination shall include, without limitation, (i) the worth at the time of award (computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rent for balance of the term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided, (ii) all reasonable legal expenses and other related costs incurred by Landlord following Tenant's default, (iii) all costs incurred by Landlord in restoring the premises to good order and condition, or in remodeling, renovating or otherwise preparing the premises for reletting, and (iv) all costs (including, without limitation, any brokerage commissions) incurred by Landlord in reletting the premises.
(iv) For the purpose of determining the unpaid rent in the event of a termination of this Lease, or the rent due hereunder in the event of a reletting of the premises, the monthly rent reserved in this Lease shall be deemed to be the sum of the rental due under Paragraph 3 above and the amounts last payable by Tenant pursuant to Paragraph 4 above.
(v) After terminating this Lease, Landlord may remove any and all personal property located in the premises and place such property in a public or private warehouse or elsewhere at the sole cost and expense of Tenant.
(c) failure Even though ▇▇▇▇▇▇ has breached this Lease and abandoned the premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to use the Premises solely for the Permitted Usepossession, as determined by Port in and Landlord may enforce all its sole rights and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of remedies under this Lease, allowing Port including the right to immediately terminate recover rental as it becomes due under this Lease without notice Lease. Acts of maintenance or demand preservation, efforts to relet the premises, or the appointment of a receiver upon initiative of Landlord to protect ▇▇▇▇▇▇▇▇'s interest under this Lease, shall not constitute a termination of Tenant; or's right to possession.
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted The remedies provided for in this Lease and Tenant's failure are in addition to deliver evidence of such coverage any other remedies available to Landlord at law or failure to reinstate such coveragein equity, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions of Sections 21(c) statute or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightotherwise.
Appears in 1 contract
Sources: Net Office Lease (Xenogen Corp)
Default by Tenant. Any Each of the following shall constitute an event of default (the "Event of Default") by Tenant Default hereunder:
(a) failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedurepay any Base Rent, Additional Rent or charge due hereunder; or
(b) abandonment failure of Tenant to comply with the material terms, conditions, or vacation covenants of this Lease that the Premises by TenantTenant is required to observe or perform; or
(c) failure to use abandonment of any portion of the Project or the Leased Premises solely for by the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or;
(d) failure by Tenant to execute and deliver to Port comply with the estoppel certificate within the time period and Affordability Covenant in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port17(a); or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions material terms of Section 15 above that Memorandum of Agreement between Landlord and Tenant's Woda ▇▇▇▇▇▇ Companies, Inc, dated (“MOA”), provided that if there is any inconsistency between the terms herein and the terms in the MOA, the terms herein shall control. The Landlord shall deliver written notice to the Tenant upon the occurrence of an Event of Default. The Tenant shall have a period of thirty (30) days from the date it receives the Landlord’s notice to cure its default if the Event of Default is a failure to pay any Base Rent, Additional Rent or charge due hereunder. The Tenant shall have a period of sixty (60) days from the date it receives the Landlord’s notice to cure its default upon the foregoing default within twenty-four (24) hours following written notice from Port. If occurrence of any other Event of Default, but if such default canEvent of Default can not reasonably be cured within such twenty-four a sixty (2460) hour day period, the Tenant shall have a longer period, not be in default to exceed 120 days, to cure such Event of this Lease if Default provided the Tenant commences begins to cure the default Event of Default within such twenty-four the sixty (2460) hour day period and acts diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions Event of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightDefault thereafter.
Appears in 1 contract
Sources: Pre Development Agreement
Default by Tenant. Any The occurrence of any one or more of the following events shall constitute an event a material default and breach of default (the "Event of Default") this Lease by Tenant hereunderTenant:
(ai) failure to pay to Port any Rent The vacating or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
. (c) failure Failure to use or occupy the Premises solely for the Permitted Usefifteen (15) consecutive days shall be deemed a vacation or abandonment.) The failure by Tenant to make any payment of rental, or any other payment required to be made by Tenant hereunder, as determined by Port in its sole and absolute discretion and when due, where such failure continues shall continue for a period of twentyten (10) days after notice thereof by Landlord to Tenant.
(ii) The failure by Tenant to observe or perform any of the terms, covenants or conditions of this Lease to be observed or performed by Tenant, other than described in Sub-four sections (24A (i)) hours following written and (A (ii)) hereinabove, where such failure shall continue for a period of thirty (30) days after notice from Portthereof by Landlord to Tenant; provided, however, that notwithstanding if the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach nature of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any and breach is such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default and breach if Tenant commences such cure within said thirty (30) day period and thereafter diligently prosecutes such default; orcure to completion within ninety (90) days.
(hiii) without limiting the provisions of Sections 21(c) or 21(g) above, failure The making by Tenant of any general assignment or general arrangement for the benefit of creditors; or the filing by or against Tenant of a petition to comply with Laws and have Tenant adjudged a bankrupt, or a petition or reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days); or the appointment of a trustee or a receiver to take possession of substantially all of Tenant's failure personal property at the Premises or of Tenant's interest in this Lease, where possession is not restored to cure Tenant within thirty (30) days; or the foregoing default within forty-eightattachment, execution or other judicial seizure of substantially all of a Tenant's personal property at the Premises
Appears in 1 contract
Sources: Ground Lease
Default by Tenant. Any The occurrence of any one or more of the following events shall constitute an event be a default and breach of default (the "Event of Default") this Lease by Tenant hereunderTenant:
(ai) failure Tenant shall fail to pay to Port (A) any Rent monthly installment of base rent or other sum payable hereunder when due, the Annual Rental Adjustment and such default continues nonpayment shall not have been cured within five (5) business days after the date of Tenant's receipt of notice of such nonpayment, or (B) any other additional rent and such nonpayment shall not have been cured within thirty (30) days after the date of Tenant's receipt of notice of such nonpayment;
(ii) Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of three thirty (330) days following written after notice thereof from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from PortLandlord; provided, however, that notwithstanding if the foregoingterm, failure condition, covenant or obligation to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure performed by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence is of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with nature that the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default same cannot reasonably be cured performed within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days day period, such default shall be deemed to cure have been cured if Tenant commences such default; orperformance within said thirty (30) day period and thereafter diligently undertakes to complete the same;
(hiii) without limiting the provisions A trustee or receiver shall be appointed to take possession of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and substantially all of Tenant's failure assets in, on or about the Premises or of Tenant's interest in this Lease (and Tenant does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment for the benefit of creditors; or substantially all of Tenant's assets in, on or about the Premises or Tenant's interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter); and
(iv) A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant pursuant to cure any federal or state statute (and, with respect to any such petition filed against it, Tenant fails to secure a stay or discharge thereof within sixty (60) days after the foregoing default within forty-eightfiling of the same).
Appears in 1 contract
Sources: Lease (Telxon Corp)
Default by Tenant. (a) Any of the following events shall constitute an event events of default (the "Event of Default") by Tenant hereunderunder this Lease:
(a1) Tenant's failure to pay to Port any Rent rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written after Landlord has given Tenant notice from Port; orof nonpayment;
(e2) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence perform any of the other terms, covenants, agreements or conditions contained herein and the continuation of such coverage default for a period of thirty (30) days after notice by Landlord or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with beyond the provisions of Section 15 above and Tenant's failure to time reasonably necessary for cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues is of the nature to cure the default, provided, however, in no event shall Tenant have require more than thirty (30) days to cure remedy, but in any event within sixty (60) days following Landlord's notice;
(3) the bankruptcy or insolvency of Tenant, any transfer by Tenant in fraud of creditors, assignment by Tenant for the benefit of creditors, or the commencement of any proceedings of any kind by or against Tenant under any provision of the Federal Bankruptcy Act or under any other insolvency, bankruptcy or reorganization act; the appointment of a receiver for a substantial part of the assets of Tenant; or the levy upon this Lease or any estate of Tenant hereunder by any attachment or execution; unless, in the event any such defaultproceedings are involuntary, Tenant is discharged from the same within sixty (60) days thereafter; or
(h4) without limiting the provisions abandonment of Sections 21(cthe Premises.
(b) or 21(g) above, failure Upon the occurrence of any event of default by Tenant hereunder, Landlord may, at its option and without any further notice or demand, in addition to comply with Laws any other rights and remedies given hereunder or by law, do any of the following:
(1) Landlord shall have the right so long as such default continues, to give notice of termination to Tenant, and on the date specified in such notice this Lease shall terminate.
(2) In the event of any such termination of this Lease, Landlord may then or at any time thereafter, reenter the Premises and remove therefrom all persons and property and again repossess and enjoy the Premises, without prejudice to any other remedies that Landlord may have by reason of Tenant's failure default or of such termination.
(3) In the event of any such termination of this Lease, and in addition to cure any other rights and remedies Landlord may have, Landlord shall have all of the foregoing default within fortyrights and remedies of a Landlord provided by Section 1951.2 of the California Civil Code. The amount of damages which Landlord may recover in event of such termination shall include, without limitation, (i) the worth at the time of award (computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rent for balance of the term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided, (ii) all legal expenses and other related costs incurred by Landlord following Tenant's default, (iii) all costs incurred by Landlord in restoring the Premises to good order and condition, or in remodeling, renovating or otherwise preparing the Premises for reletting, and (iv) all costs (including, without limitation, any brokerage commissions) incurred by Landlord in-eightreletting the Premises, to the extent allocable to the remaining term of this Lease.
(4) Landlord shall also have the remedy described in California Civil Code Section 1951.4 (lessor may continue the lease in effect after lessee's breach and abandonment and recover rent as it becomes due, if lessee has right to sublet or assign, subject only to reasonable limitations).
(5) For the purpose of determining the unpaid rent in the event of a termination of this Lease, or the rent due hereunder in the event of a reletting of the Premises, the monthly rent reserved in this Lease shall be deemed to be the sum of the rental due under paragraph 3 above and the amounts last payable by Tenant pursuant to paragraph 4 above and any "free rent" or rent waived or abated by Landlord as an inducement for Tenant to enter into this Lease.
(6) Landlord's acceptance of payment from Tenant of less than the amount of rent then due shall not constitute a waiver of any rights of Landlord or Tenant including, without limitation, any right of Landlord to recover possession of the Premises.
(7) After terminating this Lease, Landlord may remove any and all personal property located in the Premises and place such property in a public or private warehouse or elsewhere at the sole cost and expense of Tenant.
(c) Even though Tenant has breached this Lease to and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rental as it becomes due under this Lease. Acts of maintenance or preservation, efforts to relet the Premises, or the appointment of a receiver upon initiative of Landlord to protect Landlord's interest under this Lease shall not constitute a termination of Tenant's right to possession.
(d) Landlord and Tenant hereby waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereby against the other on any matter not relating to personal injury or property damage but otherwise arising out of or in any way connected with this Lease, Tenant's use or occupancy of the Premises, and any statutory remedy.
(e) The remedies provided for in this Lease are in addition to any other remedies available to Landlord at law or in equity, by statute or otherwise.
Appears in 1 contract
Sources: Net Office Lease (Doubletwist Inc)
Default by Tenant. Any The occurrence of any one or more of the following events shall constitute an event be a default and breach of default (the "Event of Default") this Lease by Tenant hereunderTenant:
(ai) failure Tenant shall fail to pay to Port any monthly installment of Base Rent or other sum payable hereunder when dueAdditional Rent or Rent Adjustment within ten (10) days after the same shall be due and payable;
(ii) Tenant shall fail to perform or observe any term, and such default continues for a condition, covenant or obligation required to be performed or observed by it under this Lease fora period of three thirty (330) days following written after notice thereof from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from PortLandlord; provided, however, that notwithstanding if the foregoingterm, failure condition, covenant or obligation to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure performed by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence is of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with nature that the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default same cannot reasonably be cured performed within such twentythirty-four (24) hour day period, Tenant such default shall not be in default of this Lease deemed to have been cured if Tenant commences to cure the default such performance within such twentysaid thirty-four (24) hour day period and thereafter diligently undertakes to complete the same, but in any event completes cure within ninety (90) days after notice from Landlord;
(iii) Tenant shall vacate or abandon or fail to occupy, for a period of ten (10) days, the Premises or any substantial portion thereof;
(iv) Tenant makes an assignment for the benefit of creditors; or substantially all of Tenant’s assets in, on or about the Premises or Tenant’s interest in this Lease are attached or levied upon under execution [and in good faith continues to cure Tenant does not discharge the default, provided, however, in no event shall Tenant have more than same within thirty (30) days to cure such defaultthereafter]; or
(hv) without limiting Tenant causes or permits a hazardous condition to exist on the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws Premises and Tenant's failure fails to cure the foregoing default within forty-eightsuch condition immediately after notice thereof from Landlord.
Appears in 1 contract
Sources: Office Lease (Endocyte Inc)
Default by Tenant. Any All of the following rights and remedies of Landlord herein enumerated shall constitute an event of default (be cumulative, and none shall exclude any other right or remedy allowed by law. It is agreed that in the "Event of Default") by Tenant hereunderevent:
(ai) failure That the Tenant shall fail, neglect or refuse to pay to Port any installment of Fixed Minimum Rent or other sum payable hereunder when dueAdditional Rent at the time, and in the amount as herein provided, or to pay any other monies agreed by it to be paid promptly when and as the same shall become due and payable under the terms hereof;
(ii) That any voluntary or involuntary petition or similar pleading, under any section or sections of any bankruptcy act, shall be filed by or against Tenant, or any voluntary or involuntary proceeding in any court or tribunal shall be instituted to declare Tenant insolvent or unable to pay Tenant's debts, and the same shall not be dismissed or discharged within thirty (30) days after notice thereof in writing;
(iii) That the Tenant shall fail, neglect or refuse to keep and perform any of the other covenants, conditions, stipulations or agreements herein contained and to be kept and performed by it, and in the event any such default continues shall continue, for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days after notice thereof in writing given to cure the Tenant, by the Landlord; provided, however, that if the cause for giving such default; ornotice involves the making of repairs, or other matters reasonably requiring a longer period of time than the period of such notice, the Tenant shall be deemed to have complied with such notice so long as it has commenced to comply with said notice within the period set forth in the notice, and is diligently prosecuting compliance with said notice, or has taken proper steps or proceedings, under the circumstances, to prevent the seizure, destruction, alteration or other interference with said Premises by reason of noncompliance with the requirements of any law or any ordinance or with the regulations, rules or directions of any government authority, as the case may be;
(hiv) That the Tenant makes any assignment of its property for the benefit of creditors, or should the Premises be taken under a levy of execution or attachment, in an action against the Tenant, and such levy, attachment or assignment is not dismissed and discharged within thirty (30) days after written notice thereof to Tenant by Landlord, the Tenant does hereby authorize and fully empower said Landlord or Landlord's agent to cancel or annul this Lease at once and to re-enter and take possession of said Premises immediately, and remove all persons and their property therefrom, and to use such force and assistance in effecting and perfecting such removal as said Landlord may deem necessary and advisable to recover at once full and exclusive possession of all of said Premises, whether in possession of said Tenant or of their persons or otherwise. At Landlord's option, Landlord may declare all installments of Minimum Rent and Additional Rent as adjusted at the time of default for the remainder of the Lease term, to be immediately due and payable whereupon the same shall become immediately due and payable. The Landlord may, however, at its option, at any time after such default or violation of condition or covenant, reenter and take possession of said Premises without limiting such re-entering working a forfeiture of the rents to be paid and the covenants, agreements and conditions to be kept and performed by said Tenant for the full term of this Lease. In such event, the Landlord shall have the right, but not the obligation, to divide or subdivide the Premises in any manner the Landlord may determine and to lease or let the same or portions thereof for such periods of time and at such rentals and for such use and upon such covenants and conditions as Landlord may elect, applying the net rentals from such letting first to the payment of Landlord's expenses incurred in dispossessing the Tenant and the costs and expenses of making such improvements in the Premises as may be necessary in order to enable the Landlord to relet the same, and to the payment of any brokerage commissions or other necessary expenses of the Landlord in connection with such reletting. The balance, if any, shall be applied by the Landlord from time to time, but in any event not less than once each month, on account of the payments due or payable by the Tenant hereunder, with the right reserved to Landlord to bring such actions or proceedings for the recovery of any deficits remaining unpaid as it may deem advisable from time to time, without being obligated to await the end of the term hereof for a final determination of the Tenant's account and the commencement or maintenance of one (1) or more actions shall not bar the Landlord from bringing other or subsequent actions for further accruals pursuant to the provisions of Sections 21(c) or 21(g) abovethis Paragraph. Any balance remaining, failure however, after full payment and liquidation of Landlord's account, as aforesaid, shall be paid to the Tenant from time to time with the right reserved to the Landlord at any time to give notice in writing to the Tenant of Landlord's election to cancel and terminate this Lease and all Tenant's obligations hereunder and upon the giving of such notice and the simultaneous payment by Landlord to Tenant of any credit balance in Tenant's favor that may at the time be owing to Tenant shall constitute a final and effective cancellation and termination of this Lease and the obligations thereunder on the part of either party to the other. In addition to the foregoing, collection costs and reasonable attorneys' fees shall be paid by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightif delinquencies are referred for collection.
Appears in 1 contract
Sources: Commercial Office Lease (Ultimate Software Group Inc)
Default by Tenant. Any Landlord and Tenant hereby agree that the occurrence of any one or more of the following shall constitute an event of default events (the "“Event of Default"”) is a default by Tenant hereunder:under this Lease and that said Event of Default shall give Landlord the rights described in Section 14.2 (and Landlord or Landlord’s authorized agent(s) shall have the right to serve any notice of default, notice to pay rent or quit or similar notice):
(a) failure Tenant fails to pay to Port make any Rent payment of Base Rent, Additional Rent, or any other sum payable hereunder required to be made by Tenant as and when due, and such default continues failure shall continue for a period of three ten (310) business days following after Landlord gives Tenant written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; orthereof;
(b) abandonment Tenant fails to execute and deliver to Landlord an estoppel certificate pursuant to Section 18 or vacation of a subordination, non-disturbance and attornment agreement pursuant to Section 24 within the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Usetimeframes set forth therein, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four twenty (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (320) business days following written notice from Port; orLandlord of such failure;
(gc) Tenant fails to maintain any insurance required in this Lease and such failure by shall continue for two (2) business days after written notice thereof from Landlord;
(d) Tenant to comply with makes a Transfer in violation of the provisions of Section 15 above 13, or if any event shall occur whereby this Lease, or the term and estate thereby created, would (by operation of law or otherwise) devolve upon or pass to any person, firm or corporation other than Tenant's , except as expressly permitted under Section 13 hereof, and such failure to cure the foregoing default is not cured within twenty-four twenty (2420) hours following business days after written notice thereof from Port. If such default cannot reasonably be cured within such twenty-four Landlord.
(24e) hour periodTenant fails to observe or perform any of the covenants, Tenant shall not be in default conditions, agreements, or provisions of this Lease if to be observed or performed by Tenant commences (other than those referenced in Section 14.1(a) - (c)) and such failure shall continue for a period of thirty (30) days after receipt of written notice thereof from Landlord to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, Tenant; provided, however, in no event shall Tenant have that if the nature of Tenant’s nonperformance is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said thirty (30) day period and thereafter diligently pursues such defaultcure to completion.
(f) Tenant makes any general arrangement or general assignment for the benefit of creditors; (i) Tenant files any petition or action for relief under any creditor’s law (including bankruptcy, reorganization, or similar action), either in state or federal court, or has such a petition or action filed against it which is not stayed or vacated within sixty (60) days after filing; (ii) Tenant makes any transfer in fraud of creditors as defined in any federal or state statutes; (iii) the appointment of a trustee or receiver to take possession of all or substantially all of Tenant’s assets or of Tenant’s interest in this Lease, which appointment is not vacated within sixty (60) days of having been filed; or (iv) there is any attachment, execution, or other judicial seizure of all or substantially all of Tenant’s assets or of Tenant’s interest in this Lease, which attachment, execution, or other judicial seizure is not vacated within sixty (60) days of having been ordered;
(g) The dissolution or liquidation of Tenant; or
(h) Tenant permanently vacates the Premises in its entirety without limiting the provisions payment of Sections 21(c) or 21(g) above, failure by Tenant to comply Rent and without maintaining the Premises in accordance with Laws and Tenant's failure to cure the foregoing default within forty-eightthis Lease.
Appears in 1 contract
Default by Tenant. Any of the (a) The following events shall constitute an event be deemed to be events of default by Tenant under this Lease (the "hereinafter called an “Event of Default") by Tenant hereunder:”):
(a1) failure Tenant shall fail to timely pay to Port any Rent or other sum payable hereunder when due, and such default continues failure shall continue for a period of three five (35) days following after written notice from Port. Notwithstanding the foregoingof such default shall have been delivered to Tenant; provided, Port shall not be required to provide such notice more than twice during any 12-month periodhowever, and any such failure by once Landlord has given Tenant after Tenant has received two (2) such notices in such during any twelve (12-) month period (whether as to one or more than one failure to pay), Landlord shall constitute not be required to give further notice and thereafter the failure or refusal by Tenant to timely make any payment of Rent when due hereunder within the following twelve (12) months shall be an Event of Default by Tenant hereunder without any further action by Port notice or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; orgrace period;
(b2) abandonment Tenant shall fail to comply with any terms, provisions or vacation covenants of this Lease or any other agreement between Landlord and Tenant not requiring the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Usepayment of Rent, as determined by Port in its sole all of which terms, provisions and absolute discretion covenants shall be deemed material, and such failure continues shall continue for a period of twenty-four thirty (2430) hours following days after written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure is delivered to reinstate Tenant or, if such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four thirty (2430) hour day period, Tenant shall fail to commence to cure such failure within such thirty (30) day period and/or shall thereafter fail to prosecute such cure diligently and continuously to completion within sixty (60) days of the date of Landlord's notice of default;
(3) Tenant takes any action to, or notifies Landlord that Tenant intends to, file a petition under any section or chapter of the United States Bankruptcy Code, as amended from time to time, or under any similar law or statute of the United States or any state thereof; or a petition shall be filed against Tenant under any such statute and shall not be dismissed within sixty (60) days thereafter;
(4) a receiver or trustee shall be appointed for Tenant's leasehold interest in default the Premises or for all or a substantial part of the assets of Tenant; or
(5) Tenant abandons all or any substantial portion of the Premises, or refuses to take occupancy thereof.
(b) Upon the occurrence of any Event of Default, Landlord may, at its option and without further notice to Tenant and without judicial process, in addition to all other remedies given hereunder or by law or equity, do any one or more of the following: (1) terminate this Lease if Lease, in which event Tenant commences shall immediately surrender possession of the Premises to Landlord; (2) enter upon and take possession of the Premises and expel or remove Tenant therefrom, with or without having terminated this Lease; (3) apply all or any portion of the Security Deposit to cure such Event of Default; (4) change or re-key all locks to entrances to the default Premises, and Landlord shall have no obligation to give Tenant a new key to the Premises until such Event of Default is cured; and (5) remove from the Premises any furniture, fixtures, equipment or other personal property of Tenant, without liability for trespass or conversion, and store such items either in Landlord’s Premises or elsewhere at the sole cost of Tenant and without liability to Tenant. Any of such furniture, fixtures, equipment or personal property not claimed within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days from the date of removal shall be deemed abandoned.
(c) Exercise by Landlord of any one or more remedies hereunder shall not constitute forfeiture or an acceptance of surrender of the Premises by Tenant, it being understood that such surrender can be effected only by the written agreement of Landlord and Tenant.
(d) If Landlord terminates this Lease by reason of an Event of Default, Tenant shall pay to cure Landlord the sum of (1) the cost of recovering the Premises, (2) the unpaid Rent and all other indebtedness accrued hereunder to the date of such termination, (3) the amounts stated in Section 27(f), and (4) the total Rent which Landlord would have received under this Lease for the remainder of the Lease Term minus the Fair Market Rental Value (hereinafter defined) of the Premises for the same period, both discounted to present value at the Prime Rate (hereinafter defined) in effect upon the date of determination, and (5) any other damages or relief which Landlord may be entitled to at law or in equity. For the purposes of this section, “Fair Market Rental Value” shall be the rental rate that would be received from a comparable tenant for a comparable lease for premises and other properties of equivalent quality, size, condition and location as the Premises, taking into account any free rent or other concessions, that are generally prevailing in the market place at the time of Tenant's default, market conditions and the period of time the Premises may reasonably be expected to remain vacant before Landlord is able to re-let the Premises to a suitable new tenant.
(e) If Landlord repossesses the Premises without terminating this Lease, then Tenant shall pay to Landlord (1) the cost of recovering the Premises, (2) the unpaid Rent and other indebtedness accrued to the date of such repossession, (3) the amounts stated in Section 27(f)(2), and (4) the total Rent which Landlord would have received under this Lease for the remainder of the Lease Term minus any net sums thereafter received by Landlord through re-letting the Premises during said period after deducting expenses incurred by Landlord in connection with such re-letting for advertising costs, brokerage commissions, architectural fees, tenant improvement costs and allowances and any other allowances or concessions provided by Landlord (amortized pro rata over the term of such new lease). Re-entry by Landlord will not affect the obligations of Tenant for the unexpired term of this Lease. Tenant shall not be entitled to any excess of rent obtained by re-letting over the Rent required to be paid by Tenant hereunder. Actions to collect amounts due by Tenant may be brought one or more times, without the necessity of Landlord's waiting until the expiration of the Lease Term. In addition, Landlord may, at any time following repossession of the Premises without termination of the Lease, elect to terminate the Lease and pursue the remedies available to Landlord pursuant to Section 27(d) above in lieu of the remedies available to Landlord pursuant to this Section 27(e).
(f) In the case of an Event of Default, Tenant shall also pay to Landlord: (1) if Landlord has terminated this Lease pursuant to Section 27(d), the unamortized portion (assuming level amortization at twelve percent (12%) interest over the Lease Term) upon the date of termination of all leasing commissions, tenant improvement costs and allowances, architectural costs and allowances, any other allowances provided by Landlord and all other out-of-pocket costs of Landlord related to this Lease; orand (2) all other expenses reasonably incurred by Landlord in enforcing Landlord's remedies, including reasonable attorneys' fees and court costs.
(g) Upon termination of this Lease or repossession of the Premises due to the occurrence of an Event of Default, Landlord shall use commercially reasonably efforts to re-let the Premises upon such terms and conditions as Landlord, in Landlord's sole discretion, deems prudent. However, Landlord shall not be required to show preference in leasing the Premises over any other space in the Building or any other office buildings owned by Landlord or any affiliate of Landlord in the Market Area.
(h) If Tenant should fail to make any payment, perform any obligation, or cure any default hereunder within ten (10) days after receipt of written notice thereof, Landlord, without limiting obligation to do so and without thereby waiving such failure or default, may make such payment, perform such obligation, and/or remedy such other default for the provisions account of Sections 21(cTenant (and enter the Premises for such purpose), and Tenant shall, within ten (10) days following written demand, pay all reasonable costs, expenses and disbursements (including all reasonable attorneys' fees) incurred by Landlord in taking such remedial action, plus, at the option of Landlord, interest thereon at the Default Rate.
(i) Nothing in this Lease will be construed as imposing any duty upon Landlord to re-let the Premises.
(j) Any grant herein by Landlord of an abatement of Base Rental or 21(g) aboveBasic Operating Costs is conditioned upon the non-occurrence of an Event of Default. Upon the occurrence of an Event of Default resulting in Landlord’s termination of the Lease, failure any and all amounts of previously abated Base Rental and Basic Operating Costs shall become immediately due and payable by Tenant to comply with Laws Landlord as Rent and Tenant's failure any provision in this Lease that contemplates the future abatement of Base Rental or Basic Operating Costs shall be immediately terminated and of no further force or effect.
(k) The specific remedies to cure which Landlord may resort under the foregoing default within forty-eightterms of this Lease are cumulative and are not intended to be exclusive of any other remedies or means of redress to which it may be lawfully entitled in case of any breach or threatened breach by Tenant of any provisions of this Lease. Without limiting the foregoing, in addition to the other remedies provided in this Lease, Landlord shall be entitled to the restraint by injunction of the violation or attempted or threatened violation of any of the covenants, conditions or provisions of this Lease or to a decree compelling specific performance of any such covenants, conditions or provisions.
Appears in 1 contract
Default by Tenant. Any 19.01 Tenant will be in default under this Lease if at any time during the Lease Term (and regardless of the following shall constitute an event pendency of default (the "Event of Default") by Tenant hereunder:
(a) failure to pay to Port any Rent bankruptcy, reorganization, receivership, insolvency or other sum payable hereunder when dueproceedings in law, and such default continues for a period in equity or before any administrative tribunal which have or might have the effect of three preventing Tenant from complying with the terms of this Lease):
A. Tenant fails to make payment within ten (310) days following receipt of written notice from Port. Notwithstanding the foregoingof any installment of Base Monthly Rent, Port Additional Rent, or of any other sum herein specified to be paid by Tenant, when due (which notice shall be in lieu of and not be required in addition to provide such any notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; orProcedure Section 1161, et seq. or any other law, rule, or regulation now or hereafter in effect requiring that notice of default be given prior to commencement of an unlawful detainer or other legal proceeding);
(b) abandonment B. Tenant fails to observe or vacation perform any of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Useits other covenants, as determined by Port in agreements or obligations or otherwise breaches any of its sole representations and absolute discretion warranties under this Lease, and such failure continues for a period of twenty-four is not cured within thirty (2430) hours following days after Landlord’s written notice from Portto Tenant of such failure; provided, however, that notwithstanding if the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach nature of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any ’s obligation is such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have that more than thirty (30) days are required for performance, then Tenant will not be in breach if Tenant commences performance within such 30-day period and thereafter diligently prosecutes the same to cure completion. The 30-day notice described herein shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161, et seq. or any other law, rule, or regulation now or hereafter in effect requiring that notice of default be given prior to the commencement of an unlawful detainer or other legal proceeding;
▇. ▇▇▇▇▇▇ or ▇▇▇▇▇▇’s assignee or guarantor becomes insolvent, makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is the subject of a bankruptcy petition which is not dismissed within sixty (60) days of commencement, is adjudged bankrupt or insolvent in proceedings filed against Tenant, which proceedings are not dismissed within sixty (60) days of commencement, or ▇▇▇▇▇▇’s assignee or guarantor, a receiver, trustee, or custodian is appointed for all or substantially all of Tenant’s or ▇▇▇▇▇▇’s assignee’s, or guarantor’s assets, or such default; or
(h) without limiting the provisions entity or person fails to pay its debts as they become due, convenes a meeting of Sections 21(c) all or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eighta portion of
Appears in 1 contract
Default by Tenant. Any of the following shall constitute an event of default (the "Event of Default") by Tenant hereunder:
(a) failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant ▇▇▇▇▇▇ has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) failure by Tenant to deliver the Monthly Percentage Rent Statement or Annual Statement when due and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any twelve (12) month period, and any such failure by Tenant after Tenant has received two (2) such notices in such twelve (12) month period shall, at the option of Port, constitute an Event of Default by Tenant hereunder without any further action by
(c) a second understatement by Tenant of its Gross Revenues for any audit period by five percent (5%) or more within any three (3) Lease Year period of the first such understatement; or
(d) failure to comply with Tenant's management covenants set forth in Section 31, as determined by Port in its sole and absolute discretion and such failure continues for a period of two (2) days following written notice from Port; or
(e) abandonment or vacation of the Premises by Tenant; or
(cf) failure to pay Port at close of escrow of any Sale, Port's Participation in Net Sale Proceeds and such default continues for a period of three (3) days following written notice from Port.
(g) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease upon written notice without notice or demand an opportunity to Tenantcure; or
(dh) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 33.3 below, and Tenant▇▇▇▇▇▇'s failure to cure the foregoing default within five (5) days following written notice from Port; or
(ei) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(fj) failure by Tenant or Tenant's broker as applicable to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease Lease, and Tenant's or Tenant's broker's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(gk) failure by Tenant ▇▇▇▇▇▇ to comply with the provisions of Section 15 above and Tenant▇▇▇▇▇▇'s failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(hl) failure by Tenant to discharge any lien or encumbrance placed on the Facility or any part thereof in violation of this Lease within ten (10) days after the date such lien or encumbrance is filed or recorded against the Facility or any part thereof, or if Tenant has no knowledge of such lien, then Tenant shall discharge such lien or encumbrance within fifteen (15) days following Tenant's knowledge of such lien or encumbrance; or
(m) failure by Tenant to observe, keep or perform any of the other terms, covenants, agreements or conditions contained in this Lease and required to be observed or performed by Tenant and not specifically enumerated in this Section 21, and such failure continues for a period of fifteen (15) days after written notice by Port, provided that if such default is not capable of cure within such fifteen (15) day period, Tenant shall have a reasonable period to complete such cure if Tenant promptly undertakes action to cure such default within
(n) Tenant shall become bankrupt or insolvent or make a transfer in fraud of creditors, or make an assignment for the benefit of creditors, or bring or have brought against Tenant any action or proceedings of any kind under any provision of the U.S. Bankruptcy Code or under any other insolvency, bankruptcy or reorganization act and, in the event such proceedings are involuntary, Tenant is not discharged from the same within sixty (60) days thereafter; or
(o) a receiver is appointed for a substantial part of the assets of Tenant and such receiver is not discharged within sixty (60) days; or
(p) this Lease or any estate of Tenant under this Lease shall be levied upon by any attachment or execution and such attachment is not stayed or lifted within sixty (60) days; or
(q) without limiting the provisions of Sections 21(c21(f) or 21(g21(k) aboveabove or lengthening the cure periods under those subsections, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eighteight (48) hours following written notice from Port.
Appears in 1 contract
Sources: Lease Agreement
Default by Tenant. Any 19.1 In addition to those events or occurrences described in this Lease as an Event of Default, the occurrence of any of the following shall constitute an event of default (the "“Event of Default") ” by Tenant hereunderunder this Lease:
(a) failure If Tenant shall fail to pay to Port any Rent installment of annual base rent, additional rent or any other sum payable hereunder sums required by this Lease when due, and such default continues failure shall remain uncured for a period of three five (35) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide after Landlord notifies Tenant in writing of such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Portfailure; provided, however, that notwithstanding the foregoing, failure Landlord shall not be required to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
give Tenant more than two (d2) failure by Tenant to execute and deliver to Port the estoppel certificate within the such written notices in any twelve (12) month period (after which time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default nonpayment within five (5) days following of the date due without any such written notice shall constitute an Event of Default).
(b) If Tenant shall violate or fail to perform any other term, condition, covenant or agreement to be performed or observed by Tenant under this Lease and such violation or failure shall continue uncured for a period of thirty (30) days after Landlord notifies Tenant of such violation or failure in writing and with specificity. If such violation or failure is not capable of being cured within such thirty (30) day period, then provided Tenant commences curative action within such thirty (30) day period and proceeds diligently and in good faith thereafter to cure such violation or failure, such cure period shall be extended for a reasonable time not to exceed ninety (90) days.
(c) If Tenant shall assign its interest in this Lease or sublet any portion of the Premises in violation of the requirements of Article VII of this Lease.
(d) [Intentionally omitted]
(e) If Tenant permits any liens to continue on the Premises, or any part thereof, beyond the periods set forth herein.
(f) If an Event of Bankruptcy, as defined in Section 20.1 of this Lease, shall occur.
(g) If an Environmental Default, as defined in Section 6.4 of this Lease, shall occur.
(a) If there shall be an Event of Default, then the provisions of this Section 19.2 shall apply. Landlord shall have the right, at its sole option, to terminate this Lease. In addition, with or without terminating this Lease, Landlord may reenter, terminate ▇▇▇▇▇▇’s right of possession and take possession of the Premises. The provisions of this Article shall operate as a notice to quit, and Tenant hereby waives any other notice to quit or notice of Landlord’s intention to reenter the Premises or terminate this Lease. If necessary, Landlord may proceed to recover possession of the Premises under the applicable Legal Requirements, or by such other proceedings, including reentry and possession, as may be applicable. If Landlord elects to terminate this Lease and/or elects to terminate Tenant’s right of possession, everything contained in this Lease required to be done or performed by Landlord shall cease, without prejudice. However, ▇▇▇▇▇▇’s liability for all base rent, additional rent and other sums due under this Lease shall not cease. Whether or not this Lease and/or Tenant’s right of possession is terminated, Landlord shall have the right, at its sole option, to terminate any renewal or expansion right contained in this Lease and to grant or withhold any consent or approval pursuant to this Lease in its sole and absolute discretion. Landlord shall use reasonable efforts to relet the Premises or any part thereof, alone or together with other premises, for such term(s) (which may extend beyond the date on which the Lease Term would have expired but for Tenant’s default) and on such terms and conditions (which may include any concessions or allowances granted by Landlord) as Landlord, in its sole and absolute discretion, may determine, but Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to relet all or any portion of the Premises or to collect any rent due upon such reletting.
(b) Whether or not this Lease and/or Tenant’s right of possession is terminated or any suit is instituted, Tenant shall be liable for any base rent, additional rent, damages or other sum which may be due or sustained prior to such Event of Default, and for all costs, fees and expenses (including, but not limited to, reasonable attorneys’ fees and costs, brokerage fees, expenses incurred in enforcing any of Tenant’s obligations under this Lease or in placing the Premises in Class A rentable condition, advertising expenses, and any concessions or allowances granted by Landlord) incurred by Landlord in pursuit of its remedies hereunder and/or in recovering possession of the Premises and renting the Premises to others from Porttime to time plus other damages suffered or incurred by Landlord on account of such Event of Default (including, but not limited to late fees or other charges incurred by Landlord under any mortgage). Tenant also shall be liable for additional damages which at Landlord’s election shall be either one of the following:
(i) an amount equal to the Base Rent and additional rent due or which would have become due from the date of such Event of Default through the remainder of the Lease Term, plus all expenses (including reasonable and actual broker and attorneys’ fees) incurred in connection with the reletting of the Premises, less the amount of rental income, if any, which Landlord actually receives during such period from others to whom Landlord may (but is not required to) relet the Premises, other than any additional rent received by Landlord as a result of any failure of such other person to perform any of its obligations to Landlord, which amount shall be computed and payable in monthly installments, in advance, on the first day of each calendar month following such Event of Default and continuing until the date on which the Lease Term would have expired but for such Event of Default, it being understood that separate suits may be brought, at Landlord’s discretion, from time to time to collect any such damages for any month(s) (and any such separate suit shall not in any manner prejudice the right of Landlord to collect any damages for any subsequent month(s)), or Landlord may defer initiating any such suit until after the expiration of the Lease Term (in which event such deferral shall not be construed as a waiver of Landlord’s rights as set forth herein and Landlord’s cause of action shall be deemed for limitations purposes not to have accrued until the expiration of the Lease Term), and it being further understood that if Landlord elects to bring suits from time to time prior to reletting the Premises, Landlord shall be entitled to its full damages through the date of the award of damages without regard to any Base Rent, additional rent or other sums that are or may be projected to be received by Landlord upon reletting of the Premises; or
(eii) a Transferan amount equal to the sum of (a) all base rent, additional rent and other sums due or attempted Transfer, of which would be due and payable under this Lease or as of the date of such Event of Default through the end of the scheduled Lease Term, plus (b) all expenses (including broker and attorneys’ fees) incurred in connection with the reletting of the Premises, minus (c) any base rent, additional rent and other sums which Tenant proves by a preponderance of the evidence would be received by Landlord upon reletting of the Premises from the end of the vacancy period projected by Tenant contrary to Landlord through the provision expiration of Section 20 abovethe scheduled Lease Term; or
(fiii) failure an amount equal to provide evidence the product of insurance coverage complying (x) all base rent, additional rent and other sums due or which would be due and payable under this Lease as of the date of such Event of Default through the end of the scheduled Lease Term, multiplied by (y), with (y) equal to: .75 if there are more than 10 years remaining on the provisions Lease Term; .80 if there are more than five but fewer than 10 years remaining on the Lease Term; or .90 if there are fewer than five years remaining on the Lease Term, it being understood that such amount constitutes a liquidated and final damage amount, which was negotiated by the parties and is designed to approximate to the best of Section 16 abovethe parties’ abilities the damage to the Landlord as a result of ▇▇▇▇▇▇’s default, failure and does not constitute a penalty. The damage amounts calculated under either option (ii) or option (iii) shall be accelerated and discounted using a discount factor equal to maintain any insurance required the yield of the Treasury Note or Bill, as appropriate, having a maturity period approximately commensurate to the remainder of the Lease Term, and such resulting amount shall be maintained by Tenant pursuant payable to this LeaseLandlord in a lump sum on demand, or if and Landlord may bring suit to collect any such insurance damages at any time after an Event of Default if Tenant does not make such payment on demand, it being understood that upon payment of such liquidated and agreed final damages, Tenant shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in released from further liability under this Lease and Tenant's failure with respect to deliver evidence the period after the date of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; orpayment.
(gc) failure by Tenant to comply In the event Landlord relets the Premises together with other premises or for a term extending beyond the provisions scheduled expiration of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour periodLease Term, Tenant shall not be entitled to apply any base rent, additional rent or other sums generated or projected to be generated by either such other premises or in default the period extending beyond the scheduled expiration of the Lease Term (collectively, “Extra Rent”) against Landlord’s damages. Similarly, in proving the amount that would be received by Landlord upon a reletting of the Premises as set forth in subparagraph (b) above, Tenant shall not take into account the Extra Rent. Nothing herein shall be construed to affect or prejudice Landlord’s right to prove, and claim in full, unpaid rent accrued prior to termination of this Lease. If Landlord is entitled, or Tenant is required, pursuant to any provision hereof to take any action upon the termination of the Lease Term, then Landlord shall be entitled, and Tenant shall be required, to take such action also upon the termination of Tenant’s right of possession.
(a) Tenant hereby expressly waives, for itself and all persons claiming by, through or under it, any right of redemption, reentry or restoration of the operation of this Lease if under any present or future Legal Requirements, including without limitation any such right which Tenant commences would otherwise have in case Tenant shall be dispossessed for any cause, or in case Landlord shall obtain possession of the Premises as herein provided.
(b) All rights and remedies of Landlord set forth herein are in addition to cure all other rights and remedies available to Landlord hereunder or at law or in equity. All rights and remedies available to Landlord hereunder or at law or in equity are expressly declared to be cumulative. The exercise by Landlord of any such right or remedy shall not prevent the concurrent or subsequent exercise of any other right or remedy. No delay in the enforcement or exercise of any such right or remedy shall constitute a waiver of any default within by Tenant hereunder or of any of Landlord’s rights or remedies in connection therewith. Landlord shall not be deemed to have waived any default by Tenant hereunder unless such twentywaiver is set forth in a written instrument signed by Landlord. If Landlord waives in writing any default by ▇▇▇▇▇▇, such waiver shall not be construed as a waiver of any covenant, condition or agreement set forth in this Lease except as to the specific circumstances described in such written waiver.
19.4 If Landlord shall institute proceedings against Tenant and a compromise or settlement thereof shall be made, the same shall not constitute a waiver of default or of any other covenant, condition or agreement set forth herein, nor of any of Landlord’s rights hereunder. Neither the payment by Tenant of a lesser amount than the installments of annual base rent, additional rent or of any sums due hereunder nor any endorsement or statement on a check or letter accompanying a check for payment of rent or other sums payable hereunder shall be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such rent or other sums or to pursue any other remedy available to Landlord. No re-four entry by ▇▇▇▇▇▇▇▇, and no acceptance by Landlord of keys from Tenant, shall be considered an acceptance of a surrender of this Lease.
19.5 If Tenant defaults in the making of any payment or in the doing of any act herein required to be made or done by Tenant, then Landlord may, but shall not be required to, make such payment or do such act. If Landlord elects to make such payment or do such act, all costs and expenses incurred by Landlord, plus interest thereon at the rate per annum (24“Default Rate”) hour period and diligently and in good faith continues which is two percent (2%) higher than the publicly announced “prime rate” then being reported by the Bank of America, from the date paid by Landlord to cure the defaultdate of payment thereof by Tenant, shall be immediately paid by Tenant to Landlord; provided, however, that nothing contained herein shall be construed as permitting Landlord to charge or receive interest in no event excess of the maximum legal rate then allowed by law. The taking of such action by Landlord shall not be considered as a cure of such default by Tenant have more than thirty (30) days or prevent Landlord from pursuing any remedy it is otherwise entitled to cure in connection with such default.
19.6 If Tenant fails to make any payment of base rent or of additional rent on or before the date such payment is due and payable, Tenant shall pay to Landlord a late charge of five percent (5%) of the amount of such payment. In addition, such payment shall bear interest at the Default Rate from the date such payment became due to the date of payment thereof by Tenant; orprovided, however, that nothing contained herein shall be construed as permitting Landlord to charge or receive interest in excess of the maximum legal rate then allowed by law. Such late charge and interest shall constitute additional rent due and payable hereunder with the next installment of annual base rent due hereunder. Notwithstanding the foregoing, the late charge shall be waived for the first late payment during each calendar year (not to exceed five (5) such waivers during the Lease Term), provided that such payment is made within five (5) business days of Tenant’s receipt of Landlord’s written notice.
(h) without limiting the provisions of Sections 21(c) or 21(g) above19.7 Landlord hereby waives any lien rights which it may otherwise have concerning Tenant’s property, failure which shall include furniture, fixtures, equipment, any and all equipment and/or supplies utilized by Tenant in its business operations and Tenant shall have the right to comply with Laws remove the same at any time without ▇▇▇▇▇▇▇▇’s consent.
19.8 In the event either Landlord or Tenant shall employ an attorney to enforce the other party’s covenants and Tenant's failure obligations under this Lease, whether or not Landlord proceeds to cure recover possession or Landlord or Tenant commence any other proceeding against the foregoing default within fortyother party, the non-eightprevailing party shall be liable for all costs and expenses sustained by the prevailing party in the enforcement of such covenants and obligations, including but not limited to attorneys’ fees and expenses, costs of collection and court costs.
Appears in 1 contract
Sources: Lease Agreement (Mandiant, Inc.)
Default by Tenant. Any of the following shall constitute an event of default (the "Event of Default") by Tenant hereunder:
(a) failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month twelve (12)-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month twelve (12)-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; orby
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 34 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eight
Appears in 1 contract
Sources: Lease Agreement
Default by Tenant. Any All rights and remedies of the Landlord herein enumerated shall be cumulative, and none shall exclude any other right or remedy available at Law or in equity.
(1) The occurrence of any one or more of the following events shall constitute a default by the Tenant and a breach of this Lease: (i) the Tenant fails to make a payment of Base Rent or additional rent or any other monetary obligation when the same shall become due and payable hereunder and such failure shall continue for more than ten (10) days after notice by the Landlord, or (ii) the Tenant fails to promptly and fully perform or observe any of the other provisions in this Lease to be performed or observed by the Tenant and the failure shall continue for more than twenty (20) days after notice by the Landlord specifying the nature of such failure, or if the failure so specified shall be of such a nature that the same cannot be reasonably cured or remedied within said twenty (20) days period, the Tenant shall not have commenced to cure or remedy the failure in good faith within such twenty (20) day period and thereafter shall have diligently proceeded to cure or remedy it, (unless the act or omission of the Tenant or occurrence involves a hazardous or emergency condition which shall be cured by the Tenant forthwith upon the Landlord's demand), or (iii) the leasehold interest or property of the Tenant is levied upon under execution or is attached by process of Law, or (iv) at any time prior to or during the Term, the Tenant makes an event assignment for the benefit of default creditors, or a receiver is appointed for any property of the Tenant, or any voluntary or involuntary petition or similar pleading under any section or sections of any bankruptcy Law shall be filed by or against the Tenant, or any voluntary or involuntary proceeding in any court or tribunal shall be instituted to declare the Tenant in solvent or unable to pay the Tenant's debts, and in the case of any involuntary petition or proceeding, the petition or proceeding is not dismissed within thirty (30) consecutive days from the "Event of Default") by Tenant hereunder:date it is filed.
(a2) failure to pay to Port any Rent or other sum payable hereunder when dueIf the Tenant defaults hereunder, and such default continues for a period of at any time thereafter, (i) if the Term shall not have commenced, the Landlord may cancel and terminate this Lease effective three (3) days following written after receipt of notice from Port. Notwithstanding by the foregoingTenant, Port or (ii) if the Term shall have commenced, the Landlord may serve upon the Tenant a notice that this Lease and the Term will terminate on a date to be specified therein, (which shall not be required to provide such less than three (3) days after the date the Landlord's notice more than twice during any 12-month periodis received), and any such failure upon the date so specified by Tenant after Tenant has received two (2) such notices the Landlord in such 12-month period its notice, this Lease and the then unexpired Term shall constitute terminate and come to an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except end as may be required by Section 1161 fully and completely as if the date specified in the Landlord' notice was the day herein definitely fixed for the end of the California Code of Civil Procedure; or
(b) abandonment or vacation of Term, and the Tenant shall then quit and surrender the Premises by Tenant; or
(c) failure to use the Premises solely for Landlord, but the Permitted Use, Tenant shall remain liable as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Porthereinafter set forth; provided, however, that notwithstanding if the foregoingTenant shall fail to make timely payment of rent and such failure shall continue for two (2) consecutive months, failure or if the Tenant shall default in the performance of an obligation in this Lease on its part to use be performed, including the timely payment of rent, two (2) or more times in any period of six (6) months then, not withstanding that each act or omission shall have been cured within the period after the giving of notices as herein provided, any further default in the performance of any obligation under this Lease on its part be performed shall be deemed to be deliberate and the Landlord thereafter may serve the aforesaid notice of termination without affording to the Tenant a further opportunity to cure the default.
(3) Upon termination of this Lease by the Landlord as herein above provided, the Landlord may terminate all services and reenter the Premises solely for either by force or otherwise, and by summary proceedings or otherwise, dispossess the Permitted Use shallTenant and the legal representative of the Tenant or any other occupant of the Premises, at Port's sole and absolute discretionremove all effects therefrom without being deemed in any manner guilty of trespass, be deemed an incurable breach of eviction or forcible detainer, and hold the Premises as if this Lease had not been made.
(4) If the Tenant defaults under this Lease, allowing Port the Landlord shall have the right to immediately terminate this Lease without notice or demand and receive from the Tenant, in addition to Tenant; orthe other remedies provided in this Lease:
(di) failure by Tenant any unpaid rent which is due and owing to execute and deliver to Port the estoppel certificate within Landlord at the time period of such termination or reentry; plus
(ii) the present value of the unpaid rent which would have been earned under this Lease after termination or re- entry minus the amount of such rental loss (net of expenses) that the Tenant proves could be reasonably avoided; plus
(iii) any other amount specific and in documented necessary to compensate the manner required Landlord for all the detriment proximately caused by Section 32 below, and the Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of perform its obligations under this Lease or which in the Premises by Tenant contrary ordinary course of things would be likely to the provision of Section 20 aboveresult therefrom; orand
(fiv) failure at the Landlord's election, such other amounts in addition to provide evidence or in lieu of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice as may be permitted from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be time to time by applicable Law or in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightequity.
Appears in 1 contract
Sources: Lease Agreement (Emagin Corp)
Default by Tenant. Any This Lease is made upon the condition that the Tenant shall punctually and faithfully perform all of the covenants and agreements by it to be performed as herein set forth, and if any of the following events or default shall constitute an event of default (the "Event of Default") by Tenant hereunderoccur, to wit:
(a) failure Any installments of rent, additional rent, taxes, or any other sums required to pay to Port be paid by Tenant hereunder, or any Rent or other sum payable hereunder when duepart thereof, shall at any time be in arrears and such default continues unpaid for a period of three five (35) days following after written notice from Port. Notwithstanding the foregoingdemand therefor, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment There be any default on the part of Tenant in the observance or vacation performance of any of the Premises by Tenant; or
(c) failure other covenants, agreements, or conditions of this Lease on the part of Tenant to use the Premises solely for the Permitted Usebe kept and performed, as determined by Port in its sole and absolute discretion and such failure continues said default shall continue for a period of twenty-four fifteen (2415) hours following days after written notice thereof from Port; provided, however, that notwithstanding the foregoing, failure Landlord to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
Tenant (d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If unless such default cannot reasonably be cured within such twenty-four fifteen (2415) hour period, days and Tenant shall not be in default of this Lease if Tenant commences have commenced to cure the said default within said fifteen (15) days and continues diligently to pursue the curing of same), or
(c) Tenant shall file a petition in bankruptcy or be adjudicated a bankrupt, or file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation, or make an assignment for the benefit of creditors, or
(d) Any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties or of the demised premises shall be appointed in any action, suit or proceeding by or against Tenant and such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event proceeding or action shall Tenant not have more than been dismissed within thirty (30) days after such appointment, or
(e) The Leasehold estate hereby created shall be taken on execution or by other process of law, or
(f) Tenant shall admit in writing its inability to cure pay its obligations generally as they become due, or
(g) Tenant shall vacate or abandon the demised premises, then and in any of said cases, Landlord at its option may terminate this Lease and re-enter upon the demised premises and take possession thereof with full right to sue for and collect all sums or amounts with respect to which Tenant may then be in default and accrued up to the time of such default; orentry, including damages to Landlord by reason of any breach or default on the part of Tenant, or Landlord may, if it elects to do so, bring suit for the collection of such rents and damages without entering into possession of the demised premises or voiding this Lease.
(h) without limiting Should Tenant fail to cure the provisions Default within the allotted fifteen (15) days, as provided in this Lease, Landlord may immediately demand all arrearages of Sections 21(c) or 21(g) above, failure Rent and all other sums due and owing by Tenant to comply Landlord. Landlord may also demand a final settlement and may accelerate all future Rent and other future monetary obligations owed under the remainder of the Lease. In addition to, but not in limitation of, any of the remedies set forth in this Lease or given to Landlord by law or in equity, Landlord shall also have the right and option, in the event of any default by Tenant under this Lease and the continuance of such default after the period of notice above provided, to retake possession of the demised premises from Tenant without process of law, by summary proceedings or otherwise, and it is agreed that the commencement and prosecution of any action by Landlord in forcible entry and detainer, ejectment or otherwise, or any execution of any judgment or decree obtained in any action to recover possession of the demised premises, shall not be construed as an election to terminate this Lease unless Landlord expressly exercises its option hereinabove provided to declare the term hereof ended, whether or not such entry or re-entry be had or taken under summary proceedings or otherwise, and shall not be deemed to have absolved or discharged Tenant from any of its obligations and liabilities for the remainder of the term of this Lease, and Tenant shall, notwithstanding such entry or re-entry, continue to be liable for the payment of the rents and the performance of the other covenants and conditions hereof and shall pay to Landlord all monthly deficits after such re-entry in monthly installments as the amounts of such deficits from time to time are ascertained and, in the event of any such ouster, Landlord rents or leases the demised premises to some other person, firm or corporation (whether for a term greater, less than or equal to the unexpired portion of the term created hereunder) for an aggregate rent during the portion of such new lease co-extensive with Laws the term created hereunder which is less than the rent and other charges which T▇▇▇▇▇ would pay hereunder for such period. Landlord may immediately upon the making of such new lease or the creation of such new tenancy sue for and recover the differences between the aggregate rental provided for in said new lease for the portion of the term co-extensive with the term created hereunder and the rent which T▇▇▇▇▇ would pay hereunder for such period, together with any expense to which Landlord may be put for brokerage commission, placing the demised premises in tenantable condition or otherwise. If such new lease or tenancy is made for shorter term than the balance of the term of this Lease, any such action brought by Landlord to collect the deficit for that period shall not bar Landlord from thereafter suing for any loss accruing during the balance of the unexpired term of this Lease. If Tenant at any time shall fail to pay any taxes, assessments, or liens, or to make any payment or perform any act required by this Lease to be made or performed by it, Landlord, without waiving or releasing Tenant from any obligation or default under this Lease, may (but shall be under no obligation to) at any time thereafter make such payment or perform such act for the account and at the expense of Tenant's failure . All sums so paid by L▇▇▇▇▇▇▇ and all costs and expenses so incurred shall accrue interest at the rate of eighteen percent (1 8%) per annum from the date of payment or incurring thereof by Landlord and shall constitute additional rent payable by Tenant under this Lease and shall be paid by Tenant to cure Landlord upon demand. All other sums payable by Tenant to Landlord under this Lease, if not paid when due, shall accrue interest at the foregoing default within forty-eightrate of eighteen percent (18%) per annum from their due date until paid, said interest to be so much additional rent under this Lease and shall be paid to Landlord by Tenant upon demand.
Appears in 1 contract
Default by Tenant. Any The occurrence of any one or more of the following events shall constitute an event a material default and breach of default this Lease by Tenant: (i) the "Event of Default") by Tenant hereunder:
(a) failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use Tenant or the vacating of the Premises solely for more than thirty (30) consecutive days; (ii) the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver make any payment of Rent or any other payment required to Port the estoppel certificate within the time period and in the manner required be made by Section 32 belowTenant hereunder, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Portof date due; or
(eiii) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with observe or perform any of the other covenants, conditions or provisions of Section 15 above and Tenant's the Lease, where such failure to shall continue for a period of twenty (20) days; provided, however, if more than twenty (20) days are reasonably required for its cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, then Tenant shall not be deemed to be in default of this Lease if Tenant commences to such cure the default within such twentysaid 20-four (24) hour day period and thereafter diligently and in good faith continues prosecutes such cure to cure completion; (iv) the default, provided, howevermaking by Tenant of any general assignment or general arrangement for the benefit of creditors; (v) the filing by or against Tenant of a petition to have Tenant adjudged bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in no event shall the case of a petition filed against Tenant, the same is dismissed within sixty (60) days); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in the Lease, where possession is not restored to Tenant have more than within thirty (30) days to cure such defaultdays; or
(hvii) without limiting the provisions attachment, execution or other judicial seizure of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and substantially all of Tenant's failure to cure assets located at the foregoing default Premises or of Tenant's interest in this Lease, where such seizure is not discharged within forty-eightthirty (30) days. The above notice periods may, at the election of Landlord, run concurrently with any statutorily required notice periods.
Appears in 1 contract
Default by Tenant. Any (a) This Lease is made upon the condition that the Tenant shall punctually and faithfully perform all of the covenants and agreements by it to be performed as herein set forth. If any of the following events shall constitute an event occur, to-wit: (i) if any installment of default (the "Event of Default") Fixed Base Rent, Percentage Rent, or any other sums required to be paid by Tenant hereunder:
, or any part thereof, shall at any time be in arrears and unpaid for ten (a10) failure to pay to Port any Rent or other sum payable hereunder when days after the date due, or (ii) if there be any default on the part of the Tenant in the observance or performance of any of the other covenants, agreements or conditions of said Lease on the part of Tenant to be kept and such performed and said default continues shall continue for a period of three fifteen (315) days following after written notice thereof from Port. Notwithstanding the foregoing, Port shall not be required Landlord to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If unless such default cannot reasonably be cured within fifteen (15) days and in such twenty-four (24) hour periodcase, Tenant shall not be in have commenced to cure said default within said fifteen (15) days and thereafter continues diligently to pursue to completion the curing of this Lease same) or (iii) if Tenant commences to cure shall file a petition in bankruptcy or be adjudicated a bankrupt, or file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation, or make an assignment for the default benefit of creditors, or (iv) if any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties shall be appointed in any action, suit or proceeding by or against Tenant and such proceeding or action shall not have been dismissed within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days after such appointment, or (v) if the leasehold estate hereby created shall be taken by execution or by other process of law, or (vi) if Tenant shall fail to cure operate and conduct business as required in Section 8 hereinabove, then, in any such default; orevent, Landlord, at Landlord's option and without limiting Landlord in the exercise of any other right or remedy Landlord may have on account of any default by Tenant, may either:
(h1) re-enter the Premises, take possession of all buildings, improvements, additions, alterations, equipment and fixtures thereon, and eject all parties in possession therefrom, using such force for that purpose as may be necessary, without limiting being liable to any prosecution for said re-entry or the provisions use of Sections 21(c) such force, and, without terminating this Lease, at anytime and from time to time relet the Premises or 21(g) aboveany part or parts thereof for the account of Tenant or otherwise, failure receive and collect the rents therefor, applying the same first to payment of such expenses as Landlord may have paid, assumed or incurred in recovering possession of the Premises, including costs, expenses and reasonable attorney's fees and brokerage, paid, assumed or incurred by Landlord in connection with reletting the Premises, and then to the fulfillment of the covenants of Tenant. Any such reletting as provided for herein may be for the remainder of the Term as originally granted or for a longer or shorter period. Landlord may execute any Lease made pursuant to the terms hereof in Landlord's own name, and Tenant shall have no right or authority whatever to collect any rent from such subtenant. In any case and whether or not the Premises or any part thereof be relet, Tenant shall pay to Landlord all sums required to be paid by Tenant up to comply with Laws the time of re-entry by Landlord, and Tenant's failure thereafter Tenant shall, if required by Landlord, pay to cure Landlord until the foregoing default within forty-eightend of the Term the equivalent amount of all rent and other charges required to be paid by Tenant under the terms of this lease, less the avails of such reletting during the Term, if any, after payment of the expenses of Landlord as aforesaid, and the same shall be due and payable on the several rent days herein
Appears in 1 contract
Sources: Lease Agreement (Dominion Homes Inc)
Default by Tenant. Any This Lease is made upon the condition that the Tenant shall punctually and faithfully perform all of the covenants and agreements by it is to be performed as herein set forth, and if any of the following shall constitute an event events of default (the "Event of Default") by Tenant hereunder:
shall occur, to-wit: (a) failure there be any default on the part of Tenant in the observance or performance of any of the covenants, agreements, or conditions of this Lease on the part of Tenant to pay to Port any Rent or other sum payable hereunder when duebe kept and performed, and such said default continues shall continue for a period of three fifteen (315) days following after written notice thereof from Port. Notwithstanding the foregoing, Port shall not be required Landlord to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If unless such default cannot reasonably be cured within such twenty-four fifteen (2415) hour period, days and Tenant shall not be in default of this Lease if Tenant commences have commenced to cure the said default within said fifteen (15) days and continues diligently to pursue the curing of the same), or (b) Tenant shall file a petition in bankruptcy or be adjudicated a bankrupt, or file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation, or make an assignment for the benefit of creditors, or (c) any trustee, receiver or liquidator or Tenant or of all or any substantial part of its properties or of the leased premises shall be appointed in any action, suit or proceeding by or against Tenant and such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event proceeding or action shall Tenant not have more than been dismissed within thirty (30) days after such appointment, or (d) the leasehold estate hereby created shall be taken on execution or by other process of law, or (e) Tenant shall admit in writing its inability to cure pay its obligations generally as they become due, or (f) Tenant shall vacate or abandon the leased premises, then and in any of said cases, Landlord at its option may terminate this lease and re-enter upon the leased premises and take possession thereof with full right to ▇▇▇ for and collect all sums or amounts with respect to which Tenant may be in default and accrued up to the time of such default; or
entry, including damages to Landlord by reason of any breach or default on the part of Tenant, or Landlord may, if it elects to do so, bring suit for the collection of such rents and damages without entering into possession of the leased premises or voiding this Lease. In addition to, but not in limitation of, any of the remedies set forth in this lease or given to Landlord by law or in equity, Landlord shall also have the right and option, in the event of any default by Tenant under this lease and the continuance of such default after the period of notice above provided, to retake possession of the leased premises from Tenant without process of law, by summary proceeding or otherwise, and it is agreed that the commencement and prosecution of any action by Landlord in forcible entry and detainer, ejectment or otherwise, or any execution of any judgement or decree obtained in any action to recover possession of the leased premises, shall not be construed as an election to terminate this lease unless Landlord expressly exercises its option hereinabove provided to declare the term hereof ended, whether, or not such entry or re-entry be had or taken under summary proceedings or otherwise, and shall not be deemed to have absolved or discharged Tenant from any of its obligations and liabilities for the remainder of the term of this lease, and Tenant shall, notwithstanding such entry or re-entry, continue to be liable for the payment of the rents and performance of the other covenants and conditions hereof and shall pay to Landlord all monthly deficits after any such re-entry in monthly installments as the amounts of such deficits from time to time are ascertained and, in the event of any such ouster, Landlord rents or leases the leased premises to some other person, firm or corporation (hwhether for a term greater, less than or equal to the unexpired portion of the term created hereunder) for an aggregate rent during the portion of such new lease co-extensive with the term created hereunder which is less than the rent and other charges which Tenant would pay hereunder for such period, Landlord may immediately upon the making of such new lease of the creation of such new tenancy ▇▇▇ for and recover the difference between the aggregate rental provided for in said new lease for the portion of the term co-extensive with the term created hereunder and the rent which Tenant would pay hereunder for such period, together with any expenses to which Landlord may be put for brokerage commission, placing the leased premises in tenantable conditions or otherwise. If such new lease or tenancy is made for shorter term than the balance of the term of this lease, any such action brought by Landlord to collect the deficit for that period shall not bar Landlord from thereafter suing for any loss accruing during the balance of the unexpired term of this Lease. If Tenant at any time shall fail to pay any taxes, assessments, or liens, or to make any payment or perform any act required by this Lease to be made or performed by it, Landlord, without limiting waiving or releasing Tenant from any obligation or default under this lease, may (but shall be under no obligation to) at any time thereafter make such payment or perform such act for the provisions account and at the expense of Sections 21(cTenant. All sums so paid by Landlord and all costs and expenses so incurred shall accrue interest at the rate of eight percent (8%) from the date of payment or 21(g) above, failure incurring thereof by Landlord and shall constitute additional rent payable by Tenant under this lease and shall be paid by Tenant to comply with Laws Landlord upon demand. All other sums payable by Tenant to Landlord under this lease, if not paid when due, shall accrue interest at the rate of eight percent (8%) from their due date until paid, said interest to be so much additional rent under this lease and Tenantshall be paid to Landlord by Tenant upon demand. All rights and remedies of Landlord herein enumerated shall be cumulative, and none shall exclude any other remedies allowed at law or in equity. Tenant agrees to pay a reasonable attorney's failure fee and all costs if Landlord, in its sole discretion, employs an attorney to cure collect any rent, additional rent, or any other sums payable under this Lease agreement or to enforce any covenants, agreements, or conditions on the foregoing default within forty-eightpart of the Tenant to be kept and performed; and Tenant expressly waives all exemptions secured to the Tenant under the laws of the State of South Carolina or of any other State of the United States as against the collection of any debt herein or hereby incurred or secured.
Appears in 1 contract
Sources: Lease (Airgate Wireless Inc)
Default by Tenant. Any The occurrence of any one or more of the following events shall constitute an event be a default and breach of default (the "Event of Default") this Lease by Tenant hereunder:Tenant;
(ai) failure Tenant shall fail to pay to Port any monthly installment of Base Rent or other sum payable hereunder when dueadditional rent or the Rent Adjustment within ten (10) days after the same strait be due and payable.
(ii) Tenant shall fail to perform or observe any term, and such default continues condition, covenant or obligation required to he performed or observed by it under this Lease for a period of three thirty (330) days following written after notice thereof from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from PortLandlord; provided, however, that notwithstanding the foregoingif thee term, failure condition, covenant or obligation to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure performed by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence is of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with nature that the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default score cannot reasonably be cured performed within such twentythirty-four (24) hour day period, Tenant such default shall not be in default of this Lease deemed to have been cured if Tenant commences to cure the default such performance within such twentysaid thirty-four (24) hour day period and thereafter diligently undertakes to complete the same, but in any event completes cure within ninety (90) days after notices from Landlord.
(iii) Tenant shall vacate or abandon or fall to occupy for a period of ten (10) days, the Premises or any substantial portion thereof; Tenant makes an assignment for the benefit of creditors; or substantially all of Tenant's assets in, on or about the Premises or Tenant's Interest in this Lease are attached or levied upon under execution (and in good faith continues to cure Tenant does not discharge the default, provided, however, in no event shall Tenant have more than same within thirty (30) days to cure such defaultthereafter); or
(hiv) without limiting Tenant causes or permits a hazardous condition to exist on the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws Premises and Tenant's failure fails to cure the foregoing default within forty-eightsuch condition immediately after notice thereof from Landlord.
Appears in 1 contract
Sources: Lease (Early Detect)
Default by Tenant. (a) Any of the following events shall constitute an event events of default (the "Event of Default") by Tenant hereunderunder this Lease:
(a1) failure to pay to Port a default by ▇▇▇▇▇▇ in the payment of any Rent rent or other sum payable hereunder when due;
(2) a default by Tenant in the performance of any of the other terms, and covenants, agreements or conditions contained herein and, if the default is curable, the continuation of such default continues for a period of three 10 days after notice by Landlord or beyond the time reasonably necessary for cure if the default is of the nature to require more than 10 days to remedy, provided that if Tenant has defaulted in the performance of the same obligation more than one time in any twelve-month period and notice of such default has been given by Landlord in such instance, no cure period shall thereafter be applicable hereunder;
(3) the bankruptcy or insolvency of Tenant, any transfer by ▇▇▇▇▇▇ in fraud of creditors, assignment by Tenant for the benefit of creditors, or the commencement of any proceedings of any kind by or against Tenant under any provision of the Federal Bankruptcy Act or under any other insolvency, bankruptcy or reorganization act unless, in the event any such proceedings are involuntary, Tenant is discharged from the same within 60 days following written thereafter; the appointment of a receiver for a substantial part of the assets of Tenant; or the levy upon this Lease or any estate of Tenant hereunder by any attachment or execution; or
(4) the abandonment of the premises which for the purpose of this sub-paragraph shall be deemed to occur when Tenant allows the premises to be unoccupied by Tenant or its employees for a period longer than ten (10) consecutive days during the term of this Lease.
(b) Upon the occurrence of any event of default by Tenant hereunder, Landlord may, at its option and without any further notice from Port. Notwithstanding or demand, in addition to any other rights and remedies given hereunder or by law, do any of the foregoingfollowing:
(1) Landlord shall have the right, Port shall not be required so long as such default continues, to provide give notice of termination to Tenant, and on the date specified in such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two this Lease shall terminate.
(2) In the event of any such notices termination of this Lease, Landlord may then or at any time thereafter, re-enter the premises and remove therefrom all persons and property and again repossess and enjoy the premises, without prejudice to any other remedies that Landlord may have by reason of Tenant's default or of such termination.
(3) In the event of any such termination of this Lease, and in addition to any other rights and remedies Landlord may have, Landlord shall have all of the rights and remedies of a landlord provided by Section 1951.2 of the California Civil Code. The amount of damages which Landlord may recover in event of such 12-month period termination shall constitute an Event include, without limitation, (i) the worth at the time of Default award (computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rent for balance of the term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided, (ii) all legal expenses and other related costs incurred by Landlord following Tenant's default, (iii) all costs incurred by Landlord in restoring the premises to good order and condition, or in remodeling, renovating or otherwise preparing the premises for reletting, and (iv) all costs (including, without limitation any brokerage commissions) incurred by Landlord in reletting the premises.
(4) For the purpose of determining the unpaid rent in the event of a termination of this Lease, or the rent due hereunder in the event of a reletting of the premises, the monthly rent reserved in this Lease shall be deemed to be the sum of the rental due under paragraph 3 above and the amounts last payable by Tenant hereunder without pursuant to paragraph 4 and 5 above and any further action concessions by Port or opportunity of Landlord as an inducement for Tenant to cure except as may be required by Section 1161 enter into this Lease.
(5) Landlord's acceptance of payment from Tenant of less than the amount of rent then due shall not constitute a waiver of any rights of Landlord or Tenant including, without limitation, any right of Landlord to recover possession of the premises.
(6) After terminating this Lease, Landlord may remove any and all personal property located in the premises and place such property in a public or private warehouse or elsewhere at the sole cost and expense of Tenant.
(c) Even though ▇▇▇▇▇▇ has breached this Lease and abandoned the premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rental as it becomes due under this Lease. Acts of maintenance or preservation, efforts to relet the premises, or the appointment of a receiver upon initiative of Landlord to protect ▇▇▇▇▇▇▇▇'s interest under this Lease, shall not constitute a termination of Tenant's right to possession.
(d) Tenant hereby waives all rights under California Code of Civil Procedure; or
(b) abandonment Procedure Section 1179 and California Civil Code Section 3275 providing for relief from forfeiture, and any other right now or vacation of hereafter existing to redeem the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate premises or reinstate this Lease without notice after termination pursuant to this Paragraph 15 or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required order or judgment of any court or by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; orany legal process.
(e) a TransferLandlord and Tenant hereby waive trial by jury in any action, proceeding or attempted Transfercounterclaim brought by either of the parties hereby against the other on any matters not relating to personal injury or property damage but otherwise arising out of or in any way connected with this Lease, the relationship of this Lease Landlord and Tenant, ▇▇▇▇▇▇'s use or occupancy of the Premises by Tenant contrary to the provision of Section 20 above; orpremises, and any emergency statutory or any other statutory remedy.
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted The remedies provided for in this Lease and Tenant's failure are in addition to deliver evidence of such coverage any other remedies available to Landlord at law or failure to reinstate such coveragein equity, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions of Sections 21(c) statute or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightotherwise.
Appears in 1 contract
Default by Tenant. Any The occurrence of any of the following events and the expiration of any grace periods hereafter described shall constitute an event of default (the "Event of Default") by Tenant hereunder:" under this Lease on the part of Tenant: -----------------
(a) failure Tenant shall fail to pay any sum to Port any Rent or other sum payable hereunder when duebe paid by Tenant under this Lease, and such default continues failure shall continue for a period of three five (35) days following after Tenant's receipt of written notice from Port. Notwithstanding the foregoing, Port Landlord (provided that Landlord shall not only be required obligated to provide such give Tenant written notice more than of any monetary default twice during in any twelve (12-) month period, and any such failure by thereafter Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written after failure to make such payment without requirement of notice from Port; orLandlord);
(eb) a Transfer, or attempted Transfer, of Tenant shall assign its interest in this Lease or sublet any portion of the Leased Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease or Tenant shall otherwise breach the provisions of Section 5.4 of this Lease;
(c) a breach shall be made in the performance of any of the other covenants or conditions which Tenant is required to observe and to perform (other than those referred to in subsections (a) and (b) above), and such breach shall continue for fifteen (15) days after notice from Landlord of such breach (unless with respect to any default which cannot be cured within fifteen (15) days due to causes beyond Tenant's failure reasonable control, Tenant, in good faith, after receiving such notice, shall have commenced and thereafter shall continue diligently to deliver evidence perform all action necessary to cure such default);
(d) if Tenant or any guarantor of this Lease is a corporation, Tenant or any such guarantor shall cease to exist as a corporation in good standing in the state of its incorporation, or, if Tenant or any guarantor of this Lease is a partnership or other entity, Tenant or any such guarantor shall be dissolved or otherwise liquidated;
(e) if the interest of Tenant under this Lease shall be subjected to any attachment, execution, levy or other judicial seizure pursuant to any order or decree entered against Tenant in any legal proceeding that is not stayed (so as to prevent seizure) pending appeal and such order or decree is not vacated or bonded against so as to prevent seizure upon the earlier to occur of (aa) fifteen (15) days prior to the sale of such coverage interest pursuant to such order or failure decree, or (bb) thirty (30) days after entry of the order;
(f) Tenant shall fail or refuse to reinstate such coverage, all move into or take possession of the Leased Premises within three thirty (330) business days following written notice from Portafter the Commencement Date; or
(g) if a breach occurs under, or any guarantor of this Lease neglects or fails to perform or observe, any covenant, term, provision, or condition contained in any such guaranty of this Lease. If an Event of Default on the part of Tenant shall have occurred under this Lease, then or at any time thereafter while such Event of Default continues, Landlord, at Landlord's option, may have any one or more of the following described remedies in addition to all other rights and remedies provided at law or in equity:
(i) Landlord, with or without terminating this Lease, may immediately or at any time thereafter re-enter the Leased Premises and correct or repair any condition which shall constitute a failure on Tenant's part to keep, observe, perform, satisfy or abide by any term, condition, covenant, agreement or obligation of this Lease and Tenant shall fully reimburse and compensate Landlord on demand for the costs incurred by Landlord in doing so; or
(ii) Landlord may terminate this Lease and forthwith repossess the Leased Premises and remove all persons or property therefrom, and be entitled to recover forthwith as damages a sum of money equal to the total of (A) the cost of recovering the Leased Premises (including, without limitation, reasonable attorneys' fees and costs of suit), (B) the cost as reasonably estimated by Landlord of any alterations of, or repairs to, the Leased Premises which are necessary or proper to prepare the same for reletting, (C) the unpaid Rent owed at the time of termination, plus interest thereon from due date at the Interest Rate, (D) the present value of the balance of the Rent for the remainder of the Term less the present value of the fair market rental value (and in computing the fair market rental value the factors taken into account shall include without limitation the market rental concessions and the time necessary to relet the Leased Premises) of the Leased Premises for said period (in each case using a discount rate of eight percent (8%) per annum), and (E) any other sum of money and damages owed by Tenant to comply with Landlord; or
(iii) Landlord may terminate Tenant's right of possession (but not this Lease) and may repossess the Leased Premises by forcible entry or detainer suit or otherwise without demand or notice of any kind to Tenant and without terminating this Lease, and remove all persons or property therefrom, using such force as may be necessary (Tenant hereby waiving any claim by reason of such reentry, repossession or removal or by issuance of any distress warrant or writ of sequestration), in which event Landlord may (but shall be under no obligation to do so unless required by law), relet the Leased Premises or any part thereof for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord (however, to the extent Landlord is so required by law to relet the Leased Premises, Landlord shall be under no obligation to relet the Leased Premises or any portion thereof in preference to any other space in the Complex or on terms unsatisfactory to Landlord). For the purpose of such reletting Landlord is authorized to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises, or provide leasing inducements or brokerage commissions that may be necessary or convenient, and (A) if Landlord shall fail or refuse to relet the Leased Premises, or (B) if relet and a sufficient sum shall not be realized from such reletting (after paying the unpaid amounts due hereunder earned but unpaid at the time of reletting plus interest thereon at the Interest Rate, the cost of recovering possession [including, without limitation, attorneys' fees and costs of suit], all of the costs and expenses of such decorations, repairs, changes, alterations and additions and all other expenses of such reletting [including, without limitation, leasing inducements and brokerage commission] and of the collection of the rent accruing therefrom) to satisfy the Rent provided for in this Lease to be paid, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods or, if the Leased Premises have been relet, Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time as the same accrues or becomes due. Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 6.8 from time to time on one or more occasions without Landlord being obligated to wait until expiration of the Term, and no delivery or recovery of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. If Landlord re-enters the Leased Premises or terminates this Lease pursuant to any of the provisions of Section 15 above this Lease, Tenant hereby waives all claims for damages which may be caused by such re-entry or termination by Landlord. No such re-entry or termination shall be considered or construed to be a forcible entry; or
(iv) Landlord is entitled and is hereby authorized, without any notice to Tenant whatsoever, to enter upon the Leased Premises by use of a master key, a duplicate key, picking the locks, or other peaceable means, and to change, alter, and/or modify the door locks on all entry doors of the Leased Premises, thereby excluding Tenant, and its officers, principals, agents, employees, visitors and representatives therefrom. In the event that Landlord has either terminated Tenant's failure right of possession to cure the Leased Premises pursuant to the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour periodprovisions of this Lease, Tenant or has terminated this Lease by reason of the Event of Default, Landlord shall not thereafter be in default of this Lease if obligated to provide Tenant commences with a key to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, Leased Premises at any time; provided, however, that in no event shall any such instance, during Landlord's normal business hours and at the convenience of Landlord, and upon the written request of Tenant have more than thirty (30) days accompanied by such written waivers and releases as Landlord may require, Landlord will escort Tenant or its authorized personnel to cure such default; or
(h) the Leased Premises to retrieve any personal belongings or other property of Tenant not subject to Landlord's liens or security interests described in this Lease or available under applicable laws. If Landlord elects to exclude Tenant from the Leased Premises without limiting permanently repossessing the Leased Premises or terminating this Lease pursuant to the foregoing provisions of Sections 21(cthis Lease, then Landlord (at any time prior to permanent repossession or termination) or 21(g) aboveshall not be obligated to provide Tenant a key to re-enter the Leased Premises until such time as all delinquent Rent has been paid in full and all other Events of Default, failure by Tenant if any, have been completely cured to comply with Laws Landlord's satisfaction, and Landlord has been given assurance reasonably satisfactory to Landlord evidencing Tenant's failure ability to cure satisfy its remaining obligations under this Lease. During any such temporary period of exclusion, Landlord will, during Landlord's regular business hours and at Landlord's convenience, upon written request by Tenant, escort Tenant or its authorized personnel to the foregoing default within forty-eightLeased Premises to retrieve personal belongings of Tenant or its employees, and such other property of Tenant as is not subject to Landlord's liens and security interests described in this Lease or available under applicable laws. The provisions hereof shall override and control any conflicting provisions of Section 93.002 of the Texas Property Code (as amended).
Appears in 1 contract
Default by Tenant. Any of the following shall constitute an event of default (the "Event of Default") by Tenant hereunder:
(a) failure The term of this Lease is subject to the limitation that (i) whenever Tenant fails to pay to Port any Rent monthly installment of the Annual Rental or any additional rental or other sum payable due Landlord from Tenant hereunder when due, and such default continues for a period of three ten (310) days following after written notice from Port. Notwithstanding the foregoingby Landlord, Port shall not be required or (ii) whenever Tenant fails to provide such notice more than twice during perform or observe any 12-month periodother covenant, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event term, provision or condition of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion this Lease and such failure default continues for a period of twenty-four thirty (2430) hours following days after written notice from Port; providedby Landlord (plus such additional time as may be reasonably required to cure a default which, howeverdespite diligent and continuous effort, that notwithstanding the foregoingcannot by its very nature be cured within said thirty (30) days) then, failure in any of such cases Landlord may give Tenant a notice of intention to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written after such notice from Port; orand the term and estate hereby granted, whether or not the term shall theretofore have commenced, shall expire and terminate on that fifth day with the same effect as if the date of termination were the Expiration Date, but Tenant shall remain liable for damages as provided herein.
(eb) a TransferIf the notice provided in subparagraph (a) above shall have been given and the term shall expire as aforesaid, then Landlord or Landlord's agents and employees may immediately or at any time thereafter re-enter the leased Premises, or attempted Transferany part thereof, either by summary dispossess proceedings or by any suitable action or proceeding at law, or otherwise (other than by force), without being liable to indictment, prosecution or damages therefor, and may repossess the same, and may remove any persons therefrom, to the end that Landlord may have, hold and enjoy the Leased Premises again as and of its first estate and interest therein. In the event of any termination of the term of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with under the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to Article Thirteen or in the event of the termination of the term of this Lease, or if of re-entry, by or under any such insurance summary dispossess or other proceeding or action or any provision of law by reason of default hereunder on the part of Tenant, Tenant shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease thereupon pay to Landlord the rent and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure any other charge payable by Tenant to comply with Landlord up to the provisions time of Section 15 above such termination or re-entry, as the case may be, and Tenant's failure shall also pay to cure the foregoing default within twenty-four Landlord damages as provided in subparagraph (24c) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightbelow.
Appears in 1 contract
Default by Tenant. Any of the (a) The following events shall constitute an event be deemed to be events of default by Tenant under this Lease (the hereinafter called an "Event of Default"):
(1) Tenant shall fail to timely pay any Rent and such failure shall continue for a period of five (5) days after written notice of such default shall have been delivered to Tenant; provided however, once Landlord has given Tenant two (2) such notices during any twelve (12) month period (whether as to one or more than one failures to pay) it shall not be required to give further notice and thereafter the failure or refusal by Tenant hereunder:to timely make any payment of Rent when due hereunder within the following twelve (12) months shall be an Event of Default without further notice;
(a2) Tenant shall fail to comply with any provision of this Lease or any other agreement between Landlord and Tenant not requiring the payment of Rent, all of which terms, provisions and covenants shall be deemed material, and such failure shall continue for a period of thirty (30) days after written notice of such failure is delivered to pay Tenant or, if such failure cannot reasonably be cured within such thirty (30) day period, Tenant shall fail to Port commence to cure such failure within such thirty (30) day period and/or shall thereafter fail to prosecute such cure diligently and continuously to completion within ninety (90) days of the date of Landlord's notice of default;
(3) Tenant or Tenant's general partner takes any Rent action to, or other sum payable hereunder when duenotifies Landlord that Tenant or Tenant's general partner intends to file a petition under any section or chapter of the United States Bankruptcy Code, as amended from time to time, or under any similar law or statute of the United States or any state thereof; or a petition shall be filed against Tenant or Tenant's general partner under any such statute and not be dismissed within sixty (60) days thereafter;
(4) a receiver or trustee shall be appointed for Tenant's leasehold interest in the Premises or for all or a substantial part of the assets of Tenant or Tenant's general partner;
(5) Tenant abandons all or any substantial portion of the Premises (although mere vacancy by Tenant shall not alone be an Event of Default); and
(6) Tenant shall default in the performance of its obligations under the Tenant Improvements Agreement and such default continues for a period of three thirty (330) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; orTenant.
(b) abandonment Upon the occurrence of any Event of Default, Landlord may, at its option and without further notice to Tenant and without judicial process, in addition to all other remedies given hereunder or vacation by law or equity, do any one or more of the following: (1) terminate this Lease, in which event Tenant shall immediately surrender possession of the Premises to Landlord; (2) enter upon and take possession of the Premises and expel or remove Tenant therefrom, with or without having terminated this Lease; (3) apply all or any portion of the Security Deposit to cure such Event of Default; (4) change or re-key all locks to entrances to the Premises, and Landlord shall have no obligation to give Tenant a new key to the Premises until such Event of Default is cured; (5) remove from the Premises any furniture, fixtures, equipment or other personal property of Tenant, without liability for trespass or conversion, and store such items either in the Complex or elsewhere at the sole cost of Tenant and without liability to Landlord, and (6) enter upon the Premises and perform Tenant's obligations under this Lease (including under the Tenant Improvements Agreement) and charge Tenant additional rent to cover the cost of Landlord's performance (but Landlord shall have no obligation to perform Tenant's obligations). Landlord may retain control over all such property for the purpose of foreclosing the security interest created by Section 34. Any of such furniture, fixtures, equipment or personal property not claimed within thirty (30) days from the date of removal shall be deemed abandoned.
(c) Exercise by Landlord of any one or more remedies hereunder shall not constitute forfeiture or an acceptance of surrender of the Premises by Tenant; or
(c) failure to use , it being understood that such surrender can be effected only by the Premises solely for the Permitted Use, as determined by Port in its sole written agreement of Landlord and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or.
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of If Landlord terminates this Lease or by reason of an Event of Default, Tenant shall pay to Landlord the Premises by Tenant contrary sum of (1) the cost of recovering the Premises, (2) the unpaid Rent and all other indebtedness accrued hereunder to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence date of such coverage or failure to reinstate such coveragetermination, all within three (3) business days following written notice from Port; or
the total Rent which Landlord would have received under this Lease for the remainder of the Lease Term minus the Fair Market Rental Value (ghereinafter defined) failure by Tenant to comply with of the provisions of Section 15 above and Tenant's failure to cure Premises for the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour same period, Tenant shall not both discounted to present value at the Prime Rate (hereinafter defined) in effect upon the date of determination, and (4) any other damages or relief which Landlord may be entitled to at law or in default equity. For the purposes of this Lease if Tenant commences to cure section, "Fair Market Rental Value" shall be the default within such twenty-four (24) hour period rental rate that would be received from a comparable tenant for a comparable lease for premises and diligently other properties of equivalent quality, size, condition and in good faith continues to cure location as the defaultPremises, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eighttaking into
Appears in 1 contract
Default by Tenant. Any of the following shall constitute an event of default (the "Event of Default") by Tenant hereunder:
(a) 30.1 Upon Tenant's failure to pay to Port any installment of Basic Rental, Additional Rent or any other sum payable hereunder payment under this Lease when due, or if Tenant shall fail to observe and such default continues for a period perform any of three the other conditions, agreements or provisions of this Lease, it shall be lawful thereupon, after ten (310) days following written notice from Port. Notwithstanding as to monetary default (subsequent to the foregoinggrace period set forth in Paragraph 3.1 above) and thirty (30) days notice as to any other default (unless Tenant shall have remedied the failure within said ten (10) or thirty (30) day period as the case may be or shall have commenced in good faith within said ten (10) or thirty (30) day period as the case may be to remedy said failure and diligently continues thereafter until said failure is remedied) for Landlord to: (1) re-enter and repossess the Premises, Port shall not be required to provide such notice more than twice during any 12-month period, remove all persons therefrom and any such failure by Tenant after Tenant has received two to take exclusive possession of and remove all property therefrom; and/or (2) such notices in such 12-month period shall constitute an Event perform on behalf of Default by Tenant hereunder without and at the expense of Tenant, any further action by Port or opportunity obligation of Tenant under this Lease which Tenant has failed to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Useperform, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding Landlord may exercise the foregoingremedy described in this clause without a default by, or notice to Tenant if Landlord, in its good faith judgment, believes it would suffer material or substantial damage by failure to use take rapid action or if the Premises solely for the Permitted Use unperformed obligation of Tenant constituted an emergency. Upon any occurrence of default by Tenant hereunder, beyond any applicable cure period, any and all rights of Tenant as a tenant shall, at Port's sole the option of Landlord, immediately cease and absolute discretion, terminate. Nothing provided herein shall be deemed an incurable breach to obligate or require Landlord to take any action or do any thing for or on behalf of Tenant, or otherwise. The failure on the part of the Landlord to re-enter or repossess the Premises, or to exercise any of its fights hereunder upon any default shall not be deemed a waiver of any of the terms and conditions of this Lease, allowing Port to immediately terminate and shall not preclude said Landlord from the exercise of any of such rights upon any subsequent occurring default or defaults.
30.2 Any reasonable costs or expenses incurred by Landlord (including, but not limited to, attorney's fees) in enforcing any of its rights or remedies under this Lease without notice or demand shall be deemed to Tenant; or
(d) failure be Additional Rental and shall be paid to Landlord by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightupon demand.
Appears in 1 contract
Default by Tenant. Any All of the following rights and remedies of Landlord herein enumerated shall constitute an event of default (be cumulative, and none shall exclude any other right or remedy allowed by law. It is agreed that in the "Event of Default") by Tenant hereunderevent:
(ai) failure That the Tenant shall fail, neglect or refuse to pay to Port any installment of Rent or other sum payable hereunder when dueat the time, and in the amount as herein provided, or to pay any other monies agreed by it to be paid promptly when and as the same shall become due and payable under the terms hereof, provided however that Landlord must give Tenant fifteen (15) days written notice and opportunity to cure such alleged default;
(ii) That any voluntary or involuntary petition or similar pleading, under any section or sections of any bankruptcy act, shall be filed by or against Tenant, or any voluntary or involuntary proceeding in any court or tribunal shall be instituted to declare Tenant insolvent or unable to pay Tenant’s debts, and the same shall not be dismissed or discharged within thirty (30) days after notice thereof in writing;
(iii) That the Tenant shall fail, neglect or refuse to keep and perform any of the other covenants, conditions, stipulations or agreements herein contained and to be kept and performed by it, and in the event any such default continues shall continue, for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days after notice thereof in writing given to cure the Tenant, by the Landlord; provided, however, that if the cause for giving such default; ornotice involves the making of repairs, or other matters reasonably requiring a longer period of time than the period of such notice, the Tenant shall be deemed to have complied with such notice so long as it has commenced to comply with said notice within the period set forth in the notice, and is diligently prosecuting compliance with said notice, or has taken proper steps or proceedings, under the circumstances, to prevent the seizure, destruction, alteration or other interference with said Demised Premises by reason of non-compliance with the requirements of any law or any ordinance or with the regulations, rules or directions of any government authority, as the case may be;
(hiv) That the Tenant makes any assignment of its property for the benefit of creditors, or should the Demised Premises be taken under a levy of execution or attachment, in an action against the Tenant, and such levy, attachment or assignment is not dismissed and discharged within thirty (30) days after written notice thereof to Tenant by Landlord; then in any event as described in Sections 10.01 (i), (ii), (iii) or (iv), the Tenant does hereby authorize and fully empower said Landlord or Landlord’s agent to cancel or annul this Lease at once and to re-enter and take possession of said Demised Premises immediately, and remove all persons and their property therefrom, and to use such force and assistance in effecting and perfecting such removal as said Landlord may deem necessary and advisable to recover at once full and exclusive possession of all of said Demised Premises, whether in possession of said Tenant or of their persons or otherwise. At Landlord’s option, Landlord may declare all installments of Rent for the remainder of the lease term to be immediately due and payable whereupon the same shall become immediately due and payable. The Landlord may, however, at its option, at any time after a default or violation of a condition or covenant, re-enter and take possession of said Premises without limiting such re-entering working a forfeiture of the rents to be paid and the covenants, agreements and conditions to be kept and performed by said Tenant for the full term of this Lease. In such event, the Landlord shall have the right, but not the obligation, to divide or subdivide the Premises in any manner the Landlord may determine and to lease or let the same or portions thereof for such periods of time and at such rentals and for such use and upon such covenants and conditions as Landlord may elect, applying the net rentals from such letting first to the payment of Landlord’s expenses incurred in dispossessing the Tenant and the costs and expenses of making such improvements in the Premises as may be necessary in order to enable the Landlord to relet the same, and to the payment of any brokerage commissions or other necessary expenses of the Landlord in connection with such reletting. The balance, if any, shall be applied by the Landlord from time to time, but in any event not less than once each month, on account of the payments due or payable by the Tenant hereunder, with the right reserved to Landlord to bring such actions or proceedings for the recovery of any deficits remaining unpaid as it may deem advisable from time to time, without being obligated to await the end of the term hereof for a final determination of the Tenant’s account and the commencement or maintenance of one (1) or more actions shall not bar the Landlord from bringing other or subsequent actions for further accruals pursuant to the provisions of Sections 21(c) or 21(g) abovethis Paragraph. Any balance remaining, failure however, after full payment and liquidation of Landlord’s account, as aforesaid, shall be paid to the Tenant from time to time with the right reserved to the Landlord at any time to give notice in writing to the Tenant of Landlord’s election to cancel and terminate this Lease and all Tenant’s obligations hereunder and upon the giving of such notice and the simultaneous payment by Landlord to Tenant of any credit balance in Tenant’s favor that may at the time be owing to Tenant shall constitute a final and effective cancellation and termination of this Lease and the obligations thereunder on the part of either party to the other. In addition to the foregoing, collection costs and reasonable attorneys’ fees shall be paid by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightif delinquencies are referred for collection.
Appears in 1 contract
Sources: Commercial Office Lease (Ultimate Software Group Inc)
Default by Tenant. Any The occurrence of any one or more of the following shall constitute an event of default ▇▇▇▇▇wing events (the "Event of Default") shall constitute a breach of this Lease by Tenant hereunderTenant:
(a) failure Tenant fails to pay to Port any Rent Base Ren▇, ▇▇ any additional monthly rent under section 3.1 hereof, or any additional rent or other sum amount of money or charge payable by Tenant hereunder as and when due, such rent becomes due and payable and such default failure continues for a period of three more than five (35) days following after Landlord gives written notice from Port. Notwithstanding thereof to Tenant; ▇▇▇▇▇▇▇▇, however, that after the foregoingsecond such failure in a calendar year, Port only the passage of time, but no further written notice, shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute establish an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of in the California Code of Civil Proceduresame calendar year; or
(b) abandonment Tenant fails to perform or vacation breaches any other agreement or covenant of the Premises this Lease to be performed or observed by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, Tenant as determined by Port in its sole and absolute discretion when performance or observance is due and such failure or breach continues for a period of twenty-four more than ten (2410) hours following days after Landlord gives written notice from Portthereof to Tenant; provided, however, that notwithstanding if, by the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence nature of such coverage agreement or covenant, such failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default or breach cannot reasonably be cured within such twenty-four period of ten (2410) hour perioddays, Tenant an Event of Default shall not be in default of this Lease if exist as long as Tenant commences to cure with due diligence and dispatches the default curing of such failure or breach within such twenty-four period of ten (2410) hour period days and, having so commenced, thereafter prosecutes with diligence and diligently dispatches and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in good faith continues bankruptcy or for liquidation or to cure take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the defaultbenefit of its creditors, providedor (iii) consents to the appointment of a custodian, howeverreceiver, in no event shall trustee or other officer with similar powers of Tenant have more than or of any substantial part of Tenant's property; or
(d) Without consent by Tenant, a court or government authority enters an ▇▇▇▇▇, and such order is not vacated within thirty (30) days days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to cure such defaultTenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(he) without limiting This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days; or
(f) Tenant abandons the provisions Premises and fails to (i) continue to pay Base Rent or any additional monthly rent due under section 3.1 hereof or any other amount of Sections 21(c) money or 21(g) above, failure charge payable by Tenant when due; and (ii) fails to comply maintain the Premises in accordance with Laws and Tenant's failure to cure the foregoing default within forty-eightterms of this Lease.
Appears in 1 contract
Default by Tenant. Any 10.1 An “Event of Default” will be considered to have occurred when any one of the following shall constitute an event of default (the "Event of Default") by Tenant hereunderhappens:
(a) failure the Tenant fails to pay the Rent hereby reserved or any part thereof on the day appointed for payment thereof, and does not cure such default within ten (10) days after receipt of written notice thereof from the Landlord;
(b) the Tenant shall have breached or failed to Port comply with any Rent of its covenants and agreements contained in this Lease (save for non-payment of Rent) and shall have failed to commence diligently to remedy such breach or non-compliance within fifteen (15) business days and failed to have fully remedied the breach or non-compliance within thirty (30) days (or such longer period as the Landlord may reasonably determine, having regard to the nature of the default) after written notice thereof given by the Landlord to the Tenant;
(c) the Tenant shall make any assignment for the benefit of creditors or become bankrupt or insolvent or take the benefit of any act now or hereinafter in force for bankrupt or insolvent debtors;
(d) the Tenant is a corporation and any order shall be made for the winding up of the Tenant or other sum payable hereunder when duetermination of the corporate existence of the Tenant;
(e) a trustee, receiver, interim receiver, receiver and manager, custodian or liquidator is appointed for the business, property, affairs, or revenue of the Tenant;
(f) this Lease or any of the Tenant’s assets on the Leased Premises are taken or seized under writ of execution, an assignment, pledge, charge, debenture or other security instrument.
10.2 Each time that an Event of Default occurs, in addition to the other rights and recourses which are granted to the Landlord pursuant to the Lease or at law, the Landlord shall have the following rights and remedies, which shall be cumulative and not alternative:
(a) the right to terminate the Lease by notice to the Tenant;
(b) the right to remedy or attempt to remedy, at the expense of the Tenant any default of the Tenant pursuant to the Lease on behalf of the Tenant and to enter the Leased Premises for such purposes;
(c) the right to recover from the Tenant all damages suffered as well as all expenses incurred by the Landlord pursuant to the default continues of the Tenant; and
(d) if the resiliation of the Lease results from or is based on the bankruptcy or the insolvency, the right to recover from the Tenant the full amount of Rent for a period of three (3) days following written notice from Port. Notwithstanding months prior to the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except bankruptcy as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely well as Rent for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightmonths following.
Appears in 1 contract
Sources: Lease Agreement (Lsi Industries Inc)
Default by Tenant. Any The occurrence of any one or more of the following shall constitute an event of default events (the "“Event of Default"”) shall constitute a breach of this Lease by Tenant hereunderTenant:
(a) failure Tenant fails to pay to Port any Rent Base Rent, or any additional monthly rent under Section 3.1 hereof, or any other sum amount of money payable by Tenant hereunder as and when due, such rent becomes due and payable and such default failure continues for a period of three more than five (35) days following after L▇▇▇▇▇▇▇ gives written notice from Port. Notwithstanding thereof to Tenant; provided, however, that after the foregoingsecond such failure in a calendar year, Port only the passage of time, but no further written notice, shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute establish an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of in the California Code of Civil Proceduresame calendar year; or
(b) abandonment Tenant fails to perform or vacation breaches any other agreement or covenant of the Premises this Lease to be performed or observed by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, T▇▇▇▇▇ as determined by Port in its sole and absolute discretion when performance or observance is due and such failure or breach continues for a period of twenty-four more than thirty (2430) hours following days after L▇▇▇▇▇▇▇ gives written notice from Portthereof to Tenant; provided, however, that notwithstanding if, by the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence nature of such coverage agreement or covenant, such failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default or breach cannot reasonably be cured within such twenty-four period of thirty (2430) hour perioddays, Tenant an Event of Default shall not be in default exist as long as Tenant promptly commences with due diligence and dispatch the curing of this Lease if Tenant commences to cure the default such failure or breach within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than of thirty (30) days to cure and, having so commenced, thereafter prosecutes its efforts with continuous diligence and dispatch in good faith and completes the curing of such defaultfailure or breach within a reasonable period of time; or
(hc) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors’ relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant’s property; or
(d) Without consent by T▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant’s property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors’ relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days; or
(f) There is an Event of Default under that certain L▇▇▇▇ being entered into contemporaneously herewith (“Adjacent Lease”) for premises therein identified as the 2 ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ building, located at 2 ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ (herein the “Cross Default” or the “Cross Default event”). All references to an Event of Default shall include without limiting the provisions limitation and be deemed to also mean any instance of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eighta Cross Default event as well.
Appears in 1 contract
Sources: Industrial Lease (Amrep Corp.)
Default by Tenant. Any of the following There shall constitute exist an event of default (the "herein called an “Event of Default"”) by Tenant hereunderunder this Lease Agreement if:
(aA) failure Tenant shall fail to pay to Port any installment of Base Rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure be paid by Tenant within 10 days after Tenant has received two (2) such notices in such 12-month period the same shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedurebecome due for payment; or
(bB) abandonment Tenant shall fail in any material respect to perform or vacation comply with any other obligation of Tenant under this Lease Agreement, and such failure is not performed or corrected within 30 days after notice of such default from Landlord (or, if such failure is not capable of being performed or corrected within such 30-day period, if Tenant shall not commence the Premises by Tenantcorrection of such default within 30 days after notice of such default from Landlord and proceed with due diligence to complete such correction within a reasonable time, but in no event longer than 90 days from the notice of such default); or
(cC) failure to use Tenant, ATSG, or ▇▇▇▇ shall make a general assignment for the benefit of creditors, or if Tenant’s interest in the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice is sold upon execution or demand to Tenantother legal process; or
(dD) failure Tenant shall suffer a receiver to be appointed in any action or proceeding by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 belowor against Tenant, and Tenant's failure to cure such appointment is not stayed or discharged within 60 days after the foregoing default within five (5) days following written notice from Port; or
(e) a Transfercommencement thereof, or attempted Transfer, of this Lease or the Premises by if Tenant contrary is a debtor in any insolvency proceeding conducted pursuant to the provision laws of Section 20 above; or
(f) failure to provide evidence any state or of insurance coverage complying with a political subdivision of any state and such proceeding is not stayed or discharged within 60 days after the commencement thereof, or if Tenant shall be or become, either voluntarily or involuntarily, a debtor in any case commenced under the provisions of Section 16 abovethe U.S. Bankruptcy Code, failure to maintain any insurance required to be maintained by Tenant pursuant to this Leaseas amended, and such case is not stayed or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all discharged within three (3) business 60 days following written notice from Port; or
(g) failure by Tenant to comply with after the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days to cure such default; or
(h) without limiting the provisions of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightcommencement thereof.
Appears in 1 contract
Sources: Lease Agreement (Air Transport Services Group, Inc.)
Default by Tenant. Any (a) The occurrence of any of the following shall constitute an event of default (the "Event of Default":
(i) Any installment of Base Rent or Additional Rent required to be paid by Tenant hereunder:
(a) failure to pay to Port , or any Rent or other sum payable hereunder when due, part thereof shall at any time be in arrears and such default continues unpaid for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; after the date due, or
(eii) a TransferThere is any default or breach on the part of Tenant in the observance or performance of any of the other covenants, agreements, or attempted Transfer, conditions of this Lease or on the Premises by part of Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, kept and performed and said default or if any such insurance breach shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence continue for a period of such coverage or failure to reinstate such coverage, all within three thirty (330) business days following after written notice thereof from Port; or
Landlord to Tenant (g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If unless such default cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall not be in default of this Lease if Tenant commences to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days and in such case, Tenant shall have commenced to cure such default; said default within said thirty (30) days and thereafter continue diligently to pursue to completion the curing of same, but in no event to exceed ninety (90) days after notice from Landlord to Tenant), or
(hiii) The leasehold estate hereby created shall be taken on execution or by other process of law, or
(iv) Tenant shall fail to deliver within ten (10) days after a request therefor any document described in Sections 13 or 21 hereof.
(b) If and whenever any Event of Default shall exist, Landlord shall have the right at its election then or at any time thereafter which such Event of Default exists to pursue any one or more of the following remedies in addition to all other rights or remedies provided herein or at law or in equity:
(i) Re-enter the Premises, take possession of all buildings, improvements, additions, alterations, equipment and fixtures thereon, and eject all parties in possession therefrom, using, to the extent permitted by law, such force for that purpose as may be necessary, without limiting being liable to any prosecution for said re-entry or the provisions use of Sections 21(c) such force, and, without terminating this Lease, at any time and from time to time relet the Premises or 21(g) aboveany part thereof for the account of Tenant or otherwise, failure receive and collect the rents therefor, applying the same first to payment of such reasonable expenses as Landlord may have paid, assumed or incurred in recovering possession of the Premises, including, without limitation, costs, expenses and reasonable attorney’s fees, brokerage and reasonable remodeling of the Premises, paid, assumed or incurred by Landlord in connection with reletting the Premises, and then to the fulfillment of the covenants of Tenant. Any such reletting as provided for herein may be for the remainder of the Term as originally granted or for a longer or shorter period. Landlord may execute any lease made pursuant to the terms hereof in Landlord’s own name and Tenant shall have no right or authority whatever to collect any rent whatever from such tenant. In any case and whether or not the Premises or any part thereof be relet, Tenant shall pay to Landlord all sums required to be paid by Tenant up to comply the time of re-entry by Landlord, and thereafter Tenant shall, if required by Landlord, pay to Landlord until the end of the Term, the equivalent amount of all rent and other charges required to be paid by Tenant under the terms of this Lease, less the avails of any such reletting during the Term, if any, after payment of the expenses of Landlord as aforesaid, and the same shall be due and payable on the several rent days herein specified. No such re-entry by Landlord shall constitute an election to terminate this Lease unless and until Landlord thereafter gives Tenant written notice of Landlord’s election to terminate this Lease. Actions to collect any amounts due by Tenant as provided in this Section 15 may be brought from time to time on one or more occasions without the necessity of Landlord’s waiting until expiration of the Term;
(ii) Terminate this Lease, and with Laws or without process of law, expel and remove Tenant's failure , or any other person or persons in occupancy from the Premises, together with their goods and chattels, using, to cure the foregoing default within forty-eightextent permitted by law, such force as may be necessary in the judgment of Landlord or its agents in so doing, and repossess and enjoy said Premises together with all improvements, additions, alterations, equipment and fixtures thereon, and in addition to any other remedy it may have, Landlord may recover from Tenant all reasonable damages it may incur by reason of such breach by Tenant.
Appears in 1 contract
Sources: Lease Agreement (INSMED Inc)
Default by Tenant. Any Each of the following shall constitute an event of default under this Lease (the "each, “Event of Default") by Tenant hereunder:”):
(a) Tenant’s failure to pay to Port make any Rent or other sum payable hereunder payment required under this Lease when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; or
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such where this failure continues for a period of twenty-four (24) hours following five business days after written notice from Port; providedLandlord to Tenant;
(b) The failure of Tenant to perform any of the covenants, howeverconditions, that notwithstanding or provisions of this Lease to be performed by Tenant (other than those requiring any payment to Landlord), where this failure continues for a period of 30 days (or such shorter period, if any, set forth for cure in the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach applicable provision of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following after written notice from Port; Landlord to Tenant or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business ’s obligation requires more than 30 days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four (24) hour periodfor performance, Tenant shall not be in default of this Lease if Tenant commences to cure perform within the default within such twenty-four (24) hour 30 day period and diligently afterwards completes it with due diligence and continuity;
(c) Any of the following (to the extent permitted by law):
(i) The making by Tenant of any general arrangements or assignments for the benefit of creditors;
(ii) The filing by or against Tenant of any proceeding under an insolvency or bankruptcy law, unless (in good faith continues the case of an involuntary proceeding) the proceeding is dismissed within 60 days;
(iii) The appointment of a trustee or receiver to cure take possession of substantially all of Tenant’s assets at the defaultLeased Premises or of Tenant’s interest in this Lease, provided, however, in no event shall where possession is not restored to Tenant have more than thirty (30) within 60 days to cure such defaultof this appointment; or
(hiv) without limiting The attachment, execution, or other judicial seizure of substantially all of Tenant’s assets located at the provisions Leased Premises or of Sections 21(cTenant’s interest in this Lease, where this seizure is not discharged within 60 days after the seizure.
(d) or 21(gTenant’s Assignment in violation of Article 17; and
(e) above, failure by Tenant to comply with Laws and Tenant's ’s failure to cure the foregoing default within forty-eightexecute or deliver any estoppel certificate required under Part III, Article 24 in a timely manner.
Appears in 1 contract
Sources: Lease (Marvel Entertainment, Inc.)
Default by Tenant. Any The occurrence of any one or more of the following events shall constitute an event of a default (the "Event of Default") by Tenant hereunderunder this Lease:
(a) Failure of the Tenant to pay rent or any other amount due under this Lease within ten (10) days after Tenant's receipt of Landlord's written notice of such failure to pay to Port any Rent or other sum payable hereunder when due, and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port provided Landlord shall not be required to provide give such notice more than twice during only once in any twelve (12-) month period, period and thereafter Tenant shall be in default if any such failure by Tenant after Tenant has payment is not received two (2) such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder when due and without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; ornotice;
(b) abandonment or vacation Failure of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 belowperform, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transferobserve, or attempted Transfercomply with or default under any of the terms, covenants, conditions or provisions contained in Section 4.1 of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following after written notice from Port. If to Tenant with respect thereto, if such default condition cannot reasonably be cured within such twenty-four (24) hour period, Tenant shall thereafter diligently and continuously prosecute such cure to completion within five (5) days from the date of Landlord's notice of such default provided that Landlord shall be required to give such notice only once in any twelve (12) month period and the second violation of the provisions contained in Section 4.1 hereof by Tenant shall constitute a default by Tenant hereunder whether or not be Landlord shall provide Tenant with notice thereof and;
(c) Failure of the Tenant to perform, observe, or comply with or default under the negative covenant or agreement set forth in Sections 4.7 and 4.10 of the Lease and all other covenants and agreements set forth in this Lease which prohibit or restrict Tenant from taking or omitting to take any action without the consent of the Landlord or which requires the Tenant to take action upon the request of the Landlord;
(d) Failure of the Tenant to perform, observe, or comply with or default under any of the terms, covenants, conditions or provisions contained in this Lease (other than covenants to pay rent, the covenants set forth in Sections 4.1 and 8.3 of this Lease, negative covenants and agreements set forth in this Lease if and all other covenants and agreements set forth in this Lease which prohibit or restrict the Tenant commences from taking or omitting to cure take any action upon request of the Landlord) and such failure or default is not cured to Landlord's satisfaction within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) calendar days after the Landlord has given Tenant written notice thereof or, if such condition cannot reasonably be cured within such thirty (30) day period, Tenant shall thereafter diligently and continuously prosecute such cure to cure completion within eighty (80) days from the date of Landlord's notice of such default, except as such eighty (80) day period otherwise be delayed by the provisions of Section 8.1 hereunder;
(e) The interest of Tenant under this Lease shall be levied on under execution or other legal process;
(f) Any petition in bankruptcy or other insolvency proceedings shall be filed by or against Tenant, or any petition shall be filed or other action taken to declare Tenant a bankrupt or to delay, reduce or modify Tenant's debts or obligations or to reorganize or modify Tenant's capital structure or indebtedness or to appoint a trustee, receiver or liquidator of Tenant or of any property of Tenant, or any proceeding or other action shall be commenced or taken by any governmental authority for the dissolution or liquidation of Tenant to the extent not cured or removed within sixty (60) days notice from Landlord;
(g) Tenant shall become insolvent, or Tenant shall make an assignment for the benefit of creditors, or Tenant shall make a transfer in fraud of creditors, or a receiver or trustee shall be appointed for Tenant or any of its properties;
(h) Tenant shall abandon the Leased Premises or any substantial portion thereof;
(i) Tenant shall do or permit to be done anything which creates or causes to be filed a lien, security interest or other encumbrance (whether consensual or created by operation of law or otherwise) against all or any part of the Leased Premises, the Building or any property situated therein or Tenant's interest in this Lease; or
(hj) without limiting The death or legal incapacity of Tenant if Tenant is an individual person or the provisions termination, dissolution or liquidation of Sections 21(cTenant, if Tenant is a corporation, partnership, or other entity.
(k) or 21(g) above, failure by Failure of the Tenant to perform, observe, or comply with Laws or default under any of the terms, covenants, conditions or provisions contained in Section 8.3 hereof and Tenantdefault is not cured within fifteen (15) days of Landlord's failure notice to cure the foregoing default within forty-eightTenant of such default.
Appears in 1 contract
Default by Tenant. Any The occurrence of any one or more of the following shall constitute an event of default events (the "“Event of Default"”) shall constitute a breach of this Lease by Tenant hereunderTenant:
(a) failure Tenant fails to pay to Port any Rent Base Rent, or any additional monthly rent under Section 3.1 hereof, or any other sum amount of money payable by Tenant hereunder as and when due, such rent becomes due and payable and such default failure continues for a period of three more than five (35) days following after L▇▇▇▇▇▇▇ gives written notice from Port. Notwithstanding thereof to Tenant; provided, however, that after the foregoingsecond such failure in a calendar year, Port only the passage of time, but no further written notice, shall not be required to provide such notice more than twice during any 12-month period, and any such failure by Tenant after Tenant has received two (2) such notices in such 12-month period shall constitute establish an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of in the California Code of Civil Proceduresame calendar year; or
(b) abandonment Tenant fails to perform or vacation breaches any other agreement or covenant of the Premises this Lease to be performed or observed by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, T▇▇▇▇▇ as determined by Port in its sole and absolute discretion when performance or observance is due and such failure or breach continues for a period of twenty-four more than thirty (2430) hours following days after L▇▇▇▇▇▇▇ gives written notice from Portthereof to Tenant; provided, however, that notwithstanding if, by the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence nature of such coverage agreement or covenant, such failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default or breach cannot reasonably be cured within such twenty-four period of thirty (2430) hour perioddays, Tenant an Event of Default shall not be in default exist as long as Tenant promptly commences with due diligence and dispatch the curing of this Lease if Tenant commences to cure the default such failure or breach within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than of thirty (30) days to cure and, having so commenced, thereafter prosecutes its efforts with continuous diligence and dispatch in good faith and completes the curing of such defaultfailure or breach within a reasonable period of time; or
(hc) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors’ relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant’s property; or
(d) Without consent by T▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant’s property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors’ relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days; or
(f) There is an Event of Default under that certain L▇▇▇▇ being entered into contemporaneously herewith (“Adjacent Lease”) for premises therein identified as the 1▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ building, located at 1▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ (herein the “Cross Default” or the “Cross Default event”). All references to an Event of Default shall include without limiting the provisions limitation and be deemed to also mean any instance of Sections 21(c) or 21(g) above, failure by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eighta Cross Default event as well.
Appears in 1 contract
Sources: Industrial Lease (Amrep Corp.)
Default by Tenant. Any The occurrence of any of the following events and the expiration of any grace periods hereafter described shall constitute an event of default (the "“Event of Default") by Tenant hereunder” under this Lease on the part of Tenant:
(a) failure Tenant shall fail to pay to Port any Rent monthly installment of Base Rental, Parking Rental or other sum payable hereunder when dueTenant’s Basic Cost, and such default continues failure shall continue for a period of three five (35) days following written notice from Port. Notwithstanding Business Days after the foregoingdate such payment is due, Port or Tenant shall not be fail to pay any other sum required to provide such notice more than twice during any 12-month period, be paid under this Lease and any such failure by Tenant shall continue for fifteen (15) Business Days after Tenant has received two (2) the date such notices in such 12-month period shall constitute an Event of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; orpayment is due;
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port Tenant shall assign its interest in its sole and absolute discretion and such failure continues for a period of twenty-four (24) hours following written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or sublet any portion of the Leased Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure to reinstate such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with shall otherwise breach the provisions of Section 15 above 5.4 of this Lease;
(c) a breach shall be made in the performance of any of the other covenants or conditions which Tenant is required to observe and Tenant's failure to cure the foregoing default within twenty-four perform (24other than those referred to in subsections (a) hours following written and (b) above), and such breach shall continue for fifteen (15) days after notice from Port. If Landlord of such breach (unless with respect to any default which cannot reasonably be cured within fifteen (15) days due to causes beyond Tenant’s reasonable control, Tenant, in good faith, after receiving such twenty-four notice, shall have commenced and thereafter shall continue diligently to perform all action necessary to cure such default within sixty (2460 ) hour period, days after notice from Landlord);
(d) Tenant shall not be in default vacate or fail to physically occupy the Leased Premises or any part thereof;
(e) if Tenant or any guarantor of this Lease is an entity, Tenant or any such guarantor shall cease to exist as such entity in good standing in the state of its formation, or, if Tenant commences or any guarantor of this Lease shall be dissolved or otherwise liquidated;
(f) if the interest of Tenant under this Lease shall be subjected to cure any attachment, execution, levy or other judicial seizure pursuant to any order or decree entered against Tenant in any legal proceeding that is not stayed (so as to prevent seizure) pending appeal and such order or decree is not vacated or bonded against so as to prevent seizure upon the default within earlier to occur of (aa) fifteen (15) days prior to the sale of such twenty-four interest pursuant to such order or decree, or (24bb) hour period and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (30) days after entry of the order;
(g) Tenant shall fail or refuse to cure such defaultmove into or take possession of the Leased Premises within fifteen (15) days after the Commencement Date; or
(h) if a breach occurs under, or any guarantor of this Lease neglects or fails to perform or observe, any covenant, term, provision, or condition contained in any such guaranty of this Lease. If an Event of Default on the part of Tenant shall have occurred under this Lease, then or at any time thereafter while such Event of Default continues, Landlord, at Landlord’s option, may have any one or more of the following described remedies in addition to all other rights and remedies provided at law or in equity:
(i) Landlord, with or without limiting terminating this Lease, may immediately or at any time thereafter re-enter the Leased Premises and correct or repair any condition which shall constitute a failure on Tenant’s part to keep, observe, perform, satisfy or abide by any term, condition, covenant, agreement or obligation of this Lease and Tenant shall fully reimburse and compensate Landlord on demand for the costs incurred by Landlord in doing so; or
(ii) Landlord may terminate this Lease and forthwith repossess the Leased Premises and remove all persons or property therefrom, and be entitled to recover forthwith as damages a sum of money equal to the total of (A) the cost of recovering the Leased Premises (including, without limitation, attorneys’ fees and costs of suit), (B) the cost as reasonably estimated by Landlord of any alterations of, or repairs to, the Leased Premises which are necessary or proper to prepare the same for reletting, (C) the unpaid Rent owed at the time of termination, plus interest thereon from due date at the Interest Rate, (D) the present value of the balance of the Rent for the remainder of the Term less the present value of the fair market rental value (and in computing the fair market rental value the factors taken into account shall include without limitation the market rental concessions and the time necessary to relet the Leased Premises) of the Leased Premises for said period (in each case using a discount rate of JPM Prime), and (E) any other sum of money and damages owed by Tenant to Landlord; or
(iii) Landlord may terminate Tenant’s right of possession (but not this Lease) and may repossess the Leased Premises by forcible entry or detainer suit or otherwise without demand or notice of any kind to Tenant and without terminating this Lease, and remove all persons or property therefrom, using such force as may be necessary (Tenant hereby waiving any claim by reason of such reentry, repossession or removal or by issuance of any distress warrant or writ of sequestration), in which event Landlord shall use commercially reasonable efforts to relet the Leased Premises or any part thereof for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord (however, to the extent Landlord is so required by law to relet the Leased Premises, Landlord shall be under no obligation to relet the Leased Premises or any portion thereof in preference to any other space in the Project or on terms unsatisfactory to Landlord). For the purpose of such reletting Landlord is authorized to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises, or provide leasing inducements or brokerage commissions that may be necessary or convenient, and (A) if Landlord shall fail or refuse to relet the Leased Premises, or (B) if relet and a sufficient sum shall not be realized from such reletting (after paying the unpaid amounts due hereunder earned but unpaid at the time of reletting plus interest thereon at the Interest Rate, the cost of recovering possession [including, without limitation, attorneys’ fees and costs of suit], all of the costs and expenses of such decorations, repairs, changes, alterations and additions and all other expenses of such reletting [including, without limitation, leasing inducements and brokerage commission] and of the collection of the rent accruing therefrom) to satisfy the Rent provided for in this Lease to be paid, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods or, if the Leased Premises have been relet, Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time as the same accrues or becomes due. Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 6.8 from time to time on one or more occasions without Landlord being obligated to wait until expiration of the Term, and no delivery or recovery of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Neither Landlord’s recovery of the Leased Premises, nor any reletting of the Leased Premises, shall be construed as an election by Landlord to accept surrender of the Leased Premises (and thereby terminate this Lease), unless written notice of such intention be given by Landlord to Tenant. If Landlord re-enters the Leased Premises or terminates this Lease pursuant to any of the provisions of Sections 21(cthis Lease, Tenant hereby waives all claims for damages which may be caused by such re-entry or termination by Landlord. No such re-entry or termination shall be considered or construed to be a forcible entry; or
(iv) Landlord is entitled and is hereby authorized, without any notice to Tenant whatsoever, to enter upon the Leased Premises by use of a master key, a duplicate key, picking the locks (all of which are agreed to be peaceable, and the doing of which shall not constitute a breach of the peace), or 21(g) aboveother peaceable means, failure by Tenant and to comply with Laws change, alter, and/or modify the door locks on all entry doors of the Leased Premises, thereby excluding Tenant, and its officers, principals, agents, employees, visitors and representatives therefrom. In the event that Landlord has either terminated Tenant's failure ’s right of possession to cure the Leased Premises pursuant to the foregoing default within fortyprovisions of this Lease, or has terminated this Lease by reason of the Event of Default, Landlord shall not thereafter be obligated to provide Tenant with a key to the Leased Premises at any time. If Landlord elects to exclude Tenant from the Leased Premises without permanently repossessing the Leased Premises or terminating this Lease pursuant to the foregoing provisions of this Lease, then Landlord (at any time prior to permanent repossession or termination) shall not be obligated to provide Tenant a key to re-eightenter the Leased Premises until such time as all delinquent Rent has been paid in full and all other Events of Default, if any, have been completely cured to Landlord’s satisfaction, and Landlord has been given assurance reasonably satisfactory to Landlord evidencing Tenant’s ability to satisfy its remaining obligations under this Lease. During any such temporary period of exclusion, Landlord will, during Landlord’s regular business hours and at Landlord’s convenience, upon written request by Tenant, escort Tenant or its authorized personnel to the Leased Premises to retrieve personal belongings of Tenant or its employees, and such other property of Tenant as is not subject to Landlord’s liens and security interests described in this Lease or available under applicable laws. Landlord may take these actions without being deemed in any manner guilty of trespass, eviction or forcible entry or detainer and without incurring any liability for any damage resulting therefrom, including any liability arising under Chapter 93 of the Texas Property Code, as amended, and without relinquishing Landlord’s right to Rent or any other right given to Landlord hereunder or by operation of law; Tenant hereby waiving any right to claim damage for such reentry and expulsion, including any rights granted to Tenant by Chapter 93 of the Texas Property Code. Tenant hereby agrees that the provisions of this Section 6.8 supersede the provisions Chapter 93 of the Texas Property Code.
Appears in 1 contract
Default by Tenant. Any of the (a) The following events shall constitute an event be deemed to be events of default by Tenant under this Lease (the hereinafter called an "Event of Default") by Tenant hereunder:):
(a1) failure Tenant shall fail to timely pay to Port any Rent or other sum payable hereunder when due, and such default continues failure shall continue for a period of three ten (310) days following after written notice from Port. Notwithstanding the foregoingof such default shall have been given to Tenant; provided, Port however, Landlord shall not be required obligated to provide such give Tenant written notice of its failure to pay Rent more than twice during two times in any 12-month periodperiod and after the second notice, and an Event of Default shall occur automatically upon Tenant’s failure to timely pay any such failure by Tenant after Tenant has received two (2) such notices in Rent within such 12-month period shall constitute an Event without the requirement of Default by Tenant hereunder without any further action by Port or opportunity of Tenant to cure except as may be required by Section 1161 of the California Code of Civil Procedure; ornotice from Landlord;
(b2) abandonment Tenant shall fail to comply with any terms, provisions or vacation covenants of this Lease or any other agreement between Landlord and Tenant not requiring the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Usepayment of Rent, as determined by Port in its sole and absolute discretion and such failure continues shall continue for a period of twenty-four thirty (2430) hours following days after written notice from Port; provided, however, that notwithstanding the foregoing, failure to use the Premises solely for the Permitted Use shall, at Port's sole and absolute discretion, be deemed an incurable breach of this Lease, allowing Port to immediately terminate this Lease without notice or demand to Tenant; or
(d) failure by Tenant to execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 32 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and Tenant's failure to deliver evidence of such coverage or failure is delivered to reinstate Tenant or, if such coverage, all within three (3) business days following written notice from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant's failure to cure the foregoing default within twenty-four (24) hours following written notice from Port. If such default cannot reasonably be cured within such twenty-four thirty (2430) hour day period, Tenant shall fail to commence to cure such failure within such thirty (30) day period and/or shall thereafter fail to prosecute such cure diligently and continuously to completion within sixty (60) days of the date of Landlord's notice of default;
(3) Tenant takes any action to, or notifies Landlord that Tenant intends to, file a petition under any section or chapter of the United States Bankruptcy Code, as amended from time to time, or under any similar Law of the United States or any state thereof; or a petition shall be filed against Tenant or any Guarantor under any such statute and shall not be dismissed within 90 days thereafter; or
(4) a receiver or trustee shall be appointed for Tenant's leasehold interest in the Premises or for all or a substantial part of the assets of Tenant
(b) Upon the occurrence of any Event of Default, Landlord may, at its option and without further notice to Tenant and without judicial process, in addition to all other remedies given hereunder or by Law or equity, do any one or more of the following: (1) terminate this Lease, in which event Tenant shall immediately surrender possession of the Premises to Landlord; (2) enter upon and take possession of the Premises and expel or remove Tenant therefrom, with or without having terminated this Lease; (3) apply all or any part of the Security Deposit to cure such Event of Default; (4) change or re-key all locks to entrances to the Premises, and Landlord shall have no obligation to give Tenant a new key to the Premises until such Event of Default is cured; and (5) remove from the Premises any furniture, fixtures, equipment or other personal property of Tenant, without liability for trespass or conversion, and store such items either in the Complex or elsewhere at the sole cost of Tenant and without liability to Tenant. Any of such furniture, fixtures, equipment or personal property not claimed within thirty (30) days from the date of removal shall be deemed abandoned.
(c) Exercise by Landlord of any one or more remedies hereunder shall not constitute forfeiture or an acceptance of surrender of the Premises by Tenant, it being understood that such surrender can be effected only by the written agreement of Landlord and Tenant.
(d) If Landlord terminates this Lease by reason of an Event of Default, Tenant shall pay to Landlord the sum of (1) the cost of recovering the Premises, (2) the cost of repairing any damage to the Premises, (3) any amounts owed by Tenant under this Lease that have accrued but not been paid, and (4) any other damages or relief which Landlord may be entitled to at law or in equity. If Tenant has prepaid any Base Rental on this Lease, Landlord may apply such prepaid Base Rental against costs, expenses and damages suffered or incurred by Landlord in connection with Tenant’s default and shall refund to Tenant the balance, if any, of such prepaid Base Rental.
(e) If Tenant should fail to make any payment, perform any obligation, or cure any default hereunder within ten (10) days after receipt of written notice thereof, Landlord, without obligation to do so and without thereby waiving such failure or default, may make such payment, perform such obligation, and/or remedy such other default for the account of Tenant (and enter the Premises for such purpose), and Tenant shall, within ten (10) days following written demand, pay all costs, expenses and disbursements (including attorneys' fees) incurred by Landlord in taking such remedial action, plus, at the option of Landlord, interest thereon at the Default Rate.
(f) If an Event of Default occurs and continues beyond applicable notice, grace and cure periods, Landlord agrees to comply with its obligations under Texas law to mitigate damages. Tenant agrees that such obligations will be satisfied if Landlord undertakes to lease the Premises to another tenant (a "Substitute Tenant") in accordance with the following criteria: (a) Landlord will have no obligation to solicit or entertain negotiations with any other prospective tenants for the Premises until Landlord obtains full and complete possession of the Premises including, without limitation, the final and unappealable legal right to relet the Premises free of any claim of Tenant; (b) Landlord will not be obligated to lease or show the Premises on a priority basis, or offer the Premises to a prospective tenant when other space in the Building suitable for the prospective tenant's use is (or soon will be) available; (c) Landlord will not be obligated to lease the Premises to a Substitute Tenant for a Base Rental less than the current fair market Base Rental then prevailing for similar uses in comparable buildings in the same market area as the Building, nor will Landlord be obligated to enter into a new lease under other terms and conditions that are unacceptable to Landlord under Landlord's then current leasing policies for comparable space in the Building; (d) Landlord will not be obligated to enter into a lease with a Substitute Tenant whose use would (i) violate any restriction, covenant, or requirement contained in the lease of another tenant of the Building; (ii) adversely affect the reputation of the Building; or (iii) be incompatible with other uses of the Building; (e) Landlord will not be obligated to enter into a lease with any proposed Substitute Tenant that does not have, in Landlord's reasonable opinion, sufficient financial resources to operate the Premises in a first class manner; and (f) Landlord will not be required to expend any amount of money to alter, remodel, or otherwise make the Premises suitable for use by a proposed Substitute Tenant unless: (i) Tenant pays any such sum to Landlord in advance of Landlord's execution of a lease with the proposed Substitute Tenant (which payment will not be in lieu of any damages or other sums to which Landlord may be entitled as a result of Tenant's default under this Lease); or (ii) Landlord, in Landlord's reasonable discretion, determines that any such expenditure is financially justified in connection with entering into a lease with the prospective Substitute Tenant; and (f) Tenant hereby waives any right to assert, claim or allege that Landlord has not fulfilled its duty to mitigate damages as a result of an Event of Default if Landlord’s efforts to mitigate are in compliance with the provisions of this Section 27 (g).
(g) Tenant will reimburse and compensate Landlord on demand and as Additional Rent for any actual loss Landlord incurs in connection with, resulting from or related to any breach or default of Tenant under this Lease, regardless of whether the breach or default constitutes an Event of Default, and regardless of whether suit is commenced or judgment is entered. Such loss includes all reasonable legal fees, costs and expenses (including paralegal fees, expert fees, and other professional fees and expenses) Landlord incurs investigating, negotiating, settling or enforcing any of Landlord’s rights or remedies or otherwise protecting Landlord’s interests under this Lease. In addition to the foregoing, Landlord is entitled to reimbursement of all of Landlord’s fees, expenses and damages, including, but not limited to, reasonable attorneys’ fees and paralegal and other professional fees and expenses, Landlord incurs in connection with any bankruptcy or insolvency proceeding involving Tenant including, without limitation, any proceeding under any chapter of the Bankruptcy Code; by exercising and advocating rights under Section 365 of the Bankruptcy Code; by proposing a plan of reorganization and objecting to competing plans; and by filing motions for relief from stay. Such fees and expenses are payable on demand, or, in any event, upon assumption or rejection of this Lease if Tenant commences in bankruptcy. Subject to cure the default within such twenty-four (24) hour period and diligently and in good faith continues to cure the default, provided, howeverSection 31 below, in no event shall Tenant have more than thirty be liable to Landlord for consequential, special or punitive damages by reason of a failure to perform (30or a default) days to cure such default; orby Tenant under this Lease.
(h) without limiting Tenant waives and releases all Claims, Tenant may have resulting from Landlord’s re-entry and taking possession of the provisions Premises pursuant to this Section 27 by any lawful means and removing, storing or disposing of Sections 21(cTenant’s property as permitted under this Lease, regardless of whether this Lease is terminated and, to the fullest extent allowable under the Laws, Tenant releases and will indemnify, protect, defend (with counsel reasonably acceptable to Landlord) and hold harmless Landlord and the Landlord Related Parties from and against any and all Claims arising therefrom. No such re-entry is to be considered or 21(g) aboveconstrued as a forcible entry by Landlord. THIS INDEMNITY PROVISION IS INTENDED TO INDEMNIFY LANDLORD, failure LANDLORD RELATED PARTIES AND THEIR RESPECTIVE AGENTS AGAINST THE CONSEQUENCES OF THEIR OWN NEGLIGENCE OR FAULT WHEN LANDLORD OR ITS AGENTS ARE JOINTLY, COMPARATIVELY, OR CONCURRENTLY NEGLIGENT WITH TENANT (BUT NOT WHEN THE NEGLIGENCE OR FAULT OF LANDLORD, LANDLORD RELATED PARTIES OR THEIR AGENTS IS THE SOLE BASIS OF THE CLAIM). No such re-entry is to be considered or construed as a forcible entry by Tenant to comply with Laws and Tenant's failure to cure the foregoing default within forty-eightLandlord.
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