Common use of Default of Landlord Clause in Contracts

Default of Landlord. It shall be a default by Landlord if Landlord fails to comply with any material term, provision, condition or covenant of this Lease and will not cure such failure within thirty (30) days after notice to Landlord of such failure to comply or such additional time period as may reasonably be necessary to effect a cure of the default provided that Landlord commence and diligently pursues a cure of the default. Upon any default by Landlord, Tenant may, at its option, elect to: (a) terminate this Lease upon thirty (30) days written notice to Landlord; (b) bring an action to require specific performance of Landlord's obligations; (c) provide Landlord with an additional period of time within which to effect that cure; (d) commence such cure itself, and Tenant may either, at its option, offset any expenses it incurs in effecting such cure against the rent and other charges due and payable by Tenant hereunder, or require that Landlord immediately reimburse Tenant for its expenses; provided, however, in the event of an emergency, Tenant may immediately effect a cure of Landlord's failure should Landlord fail to act immediately to do so, without the requirement of any notice by Tenant to Landlord; and/or (e) pursue any other remedies provided herein or provided by law.

Appears in 2 contracts

Samples: Lease Agreement (Nur Macroprinters LTD), Lease Agreement (Bairnco Corp /De/)

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Default of Landlord. It shall be Should Landlord fail to perform any of its obligations hereunder, Landlord will have a default by Landlord if Landlord fails to comply with any material term, provision, condition or covenant period of this Lease and will not cure such failure within thirty (30) days after its receipt of written notice from Tenant of a failure of performance within which to Landlord of such failure to comply or such additional time period as may reasonably be necessary to effect commence a cure of that failure. Failure of Landlord to commence that cure within the 30-day period or to effect that cure within that 30-day period will be an event of default provided that Landlord commence under this Lease and diligently pursues a cure of the default. Upon any default by Landlord, Tenant may, at its option, elect to: (a) terminate this Lease upon thirty (30) days written notice to Landlord; (b) bring an action to require specific performance of Landlord's obligations; (c) provide Landlord with an additional period of time within which to effect that cure; (d) commence such cure itself, and Tenant may either, at its option, offset any expenses it incurs in effecting such cure against the rent and other charges due and payable by Tenant hereunder, or require that Landlord immediately reimburse Tenant for its expenses; provided, however, in the event of an emergency, Tenant may immediately effect a cure of Landlord's failure should Landlord fail to act immediately to do so, without the requirement of any notice by Tenant to Landlord; and/or (e) pursue any other remedies provided herein or provided by law.

Appears in 1 contract

Samples: Lease Agreement (Hughes Supply Inc)

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Default of Landlord. It shall be Should Landlord fail to perform any of its obligations hereunder, Landlord will have a default by Landlord if Landlord fails to comply with any material term, provision, condition or covenant period of this Lease and will not cure such failure within thirty (30) days after its receipt of written notice from Tenant of a failure of performance within which to Landlord of such failure to comply or such additional time period as may reasonably be necessary to effect commence a cure of that failure. Failure of Landlord to commence that cure within the 30-day period or to effect that cure within that 30-day period will be an event of default provided that Landlord commence under this Lease and diligently pursues a cure of the default. Upon any default by Landlord, Tenant may, at its option, elect to: (a) terminate this Lease upon thirty (30) days written notice to Landlord; (b) bring an action to require specific performance of Landlord's obligations; (c) provide Landlord with an additional period of time within which to effect that cure; (dcure;(d) commence such cure itself, and Tenant may either, at its option, offset any expenses it incurs in effecting such cure against the rent and other charges due and payable by Tenant hereunder, or require that Landlord immediately reimburse Tenant for its expenses; provided, however, in the event of an emergency, Tenant may immediately effect a cure of Landlord's failure should Landlord fail to act immediately to do so, without the requirement of any notice by Tenant to Landlord; and/or (e) pursue any other remedies provided herein or provided by law.

Appears in 1 contract

Samples: Lease Agreement (Hughes Supply Inc)

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