Common use of Default Defined, Notice Clause in Contracts

Default Defined, Notice. Landlord shall in no event be charged with default in the performance of any of its obligations hereunder unless and until Landlord shall have failed to perform such obligations within thirty (30) days (or such additional time as is reasonably required to correct any such default provided Landlord has commenced such cure within said thirty (30) day period and prosecutes such cure to completion with due diligence, but in no event, however, shall such time period for cure exceed 120 days in total), after written notice is received by Landlord from Tenant specifically describing such failure. Tenant agrees to use all commercially reasonable efforts to mitigate its damages in the event of a default by Landlord. In the event of a default by Landlord under this Lease and the expiration of all applicable cure periods with respect thereto, as set forth in the preceding portions of this Section 19.1, Tenant shall be entitled to pursue any legal or equitable rights or remedies which Tenant may have under this Lease or otherwise at law or in equity by virtue of such default by Landlord; provided, that Tenant shall in any such event additionally have the option (at Tenant's sole discretion) of remedying such default by Landlord and, in connection therewith, incurring reasonable expenses for the account of Landlord, and any and all such sums expended or obligations incurred by Tenant in connection therewith shall be paid by Landlord to Tenant upon demand. In the event Tenant has exercised its right of self-help under those circumstances contemplated at Section 9.1 of this Lease, Landlord has not reimbursed the Tenant for the costs incurred by Tenant in connection with the exercise of said self-help, Tenant may, thereafter, offset the reasonable expenses incurred by it subsequent to the time as Landlord's default has been adjudicated by a court of competent jurisdiction and all appeal rights thereunder have expired.

Default Defined, Notice. Except as expressly set forth herein to the contrary, Landlord shall in no event be charged with default in the performance of any of its obligations hereunder unless and until Landlord shall have failed to perform such obligations within thirty (30) days (or after written notice to Landlord by Tenant, specifically describing such additional time as is reasonably required to correct any failure; provided that if the nature of such default provided Landlord has commenced is such cure that it cannot be cured within said thirty (30) day period -day period, Landlord shall have such additional time as may be reasonably necessary to complete its performance so long as Landlord has proceeded with diligence after receipt of Tenant’s notice to cure such default. If Landlord defaults in the performance of any of its obligations, covenants and prosecutes warranties hereunder, then Tenant may, at its option, cure the same on behalf of the Landlord, whereupon the cost of such cure to completion with due diligence, but in no event, howevercuring and any out-of-pocket expenses reasonably and necessarily arising as a consequence thereof, shall be due and payable to Tenant from Landlord upon demand therefor by Tenant along with interest at the rate of twelve percent (12%) per annum. Upon failure of Landlord to so remit to Tenant within thirty (30) days of Landlord’s receipt of such time period for cure exceed 120 days in total), after written notice is received by Landlord from Tenant specifically describing such failure. Tenant agrees to use all commercially reasonable efforts to mitigate its damages in the event of a default by Landlord. In the event of a default by Landlord under this Lease and the expiration of all applicable cure periods with respect thereto, as set forth in the preceding portions of this Section 19.1notice, Tenant may deduct such costs from the monthly installments of Percentage Rent next coming due under the Lease until Tenant has been fully reimbursed for such costs. The foregoing shall be entitled to pursue not limit or preclude Tenant from exercising any legal or equitable other rights or and remedies which Tenant may have under this Lease or otherwise available at law or in equity by virtue of such default by Landlord; provided, that Tenant shall in any such event additionally have the option (at Tenant's sole discretion) of remedying such default by Landlord and, in connection therewith, incurring reasonable expenses for the account of Landlord, and any and all such sums expended or obligations incurred by Tenant in connection therewith shall be paid by Landlord to Tenant upon demand. In the event Tenant has exercised its right of self-help under those circumstances contemplated at Section 9.1 of this Lease, Landlord has not reimbursed the Tenant for the costs incurred by Tenant in connection with the exercise of said self-help, Tenant may, thereafter, offset the reasonable expenses incurred by it subsequent to the time as Landlord's default has been adjudicated by a court of competent jurisdiction and all appeal rights thereunder have expiredequity.