DEFAULT OF SUBLESSEE. If any Basic Rental or additional rental or other sums reserved hereunder, or any part thereof, shall be and remain unpaid when due (provided, however, the first two (2) times in any one (1) Lease year that Sublessee fails to pay said Basic Rental or additional rental when due, Sublessor shall give Sublessee written notice of such overdue payment and allow Sublessee a period of five (5) days in which to pay same prior to declaring a default hereunder), or if Sublessee shall violate or default in any of the provisions of this Sublease or the Lease, and such violation or default shall continue for ten (10) days after written notice thereof from Sublessor to Sublessee, then Sublessor may cancel this Sublease by giving such notice and re-enter the Sublease Premises. Notwithstanding any re-entry, all rent due under the terms of this Sublease shall be accelerated pursuant to applicable law and the liability of Sublessee for the rent shall not be extinguished for the balance of the Sublease Term. Sublessee shall make good to Sublessor any deficiency and reimburse Sublessor's reasonable expenses arising from a re-entry or reletting of the Sublease Premises, even if at a reduced rental. Sublessee shall pay any deficiency on the first day of each month immediately following the month in which the amount of the deficiency is ascertained by Sublessor. In addition to any other remedies Sublessor may have under this Sublease and the Lease, and without reducing or adversely affecting any of Sublessor's rights and remedies under this Sublease and the Lease, if any rental or damages payable hereunder by Sublessee to Sublessor are not paid within five (5) days after the due date therefor, the same shall bear interest at an interest rate equal to four percent (4%) above the so-called annual base rate of interest established and approved by Citibank, N.A., New York, New York, or its successors, from time to time, as its interest rate charged for unsecured loans to its corporate customers, but in no event greater than the highest lawful rate from time to time in effect.
DEFAULT OF SUBLESSEE. A. If any rents reserved, or any part of them, shall be and remain unpaid when they shall become due, or if Sublessee violates or defaults in any of the provisions of this sublease agreement, then Lessee may cancel this sublease agreement by giving the required notice, and reenter the demised premises.
DEFAULT OF SUBLESSEE. If any rents reserved, or any part thereof, shall be and remain unpaid when these rents shall become due, or if Sublessee violates or defaults in any of the provisions of this Lease, then Sublessor may cancel this Lease by giving 5 days notice, except for default for violations of local, state or federal laws, rules or regulations where termination may be immediate, and re-enter the Sub-Sub-Premises. Notwithstanding, any re-entry, the liability of Sublessee for the rent for the balance of the term hereof shall not be extinguished, and Sublessee shall make good to Sublessor any deficiency arising from a reentry and reletting of the Sub-Sub-Premises at a reduced Rent. Sublessee shall pay any deficiency on the first (1st) day of each month immediately following the month in which the amount of deficiency is ascertained by Sublessor. To the extent permissible by applicable law, Sublessor may obtain specific performance or injunctive relief.
DEFAULT OF SUBLESSEE. 13.1. Each of the following shall constitute an Event of Default: (a) Sublessee’s failure to make any payment of the Basic Annual Rent, additional rent or any other sum on or before its due date; (b) Sublessee’s violation or failure to perform or observe any other covenant or condition of this Sublease within ten (10) days following Sublessor’s written notice to Sublessee; provided however, that if the nature of Sublessee’s obligation is such that more than ten (10) days are reasonably required for performance, then Sublessee shall not be in default if Sublessee commences performance within such ten (10) day period and thereafter diligently and continuously prosecutes the same to completion, as long as the Landlord has not declared such violation of failure an Event of Default under the Master Lease.; (c) Sublessee’s abandonment of
DEFAULT OF SUBLESSEE. If any rents reserved, or any part thereof, shall be and remain unpaid when these rents shall become due, or if FEDERAL violates or defaults in any of the provisions of this Lease, then LEHIGH may cancel this Lease and re-enter the premises. Notwithstanding any re-entry, the liability of FEDERAL for the rent shall not be extinguished for the balance of the term hereof, and FEDERAL shall make good to LEHIGH any deficiency arising from a re-entry and reletting of the premises at a reduced rental. Said deficiency shall be due and payable on demand as soon as said amount can be ascertained by LEHIGH. This is in addition to any right LEHIGH may have under paragraph 2 for interest on past due rent.
DEFAULT OF SUBLESSEE. If Sublessee shall fail to pay any installment of rent when due hereunder or shall default in the observance or performance of any conditions or covenants to be kept, observed or performed by Sublessee hereunder, or shall Default under any of the terms of the Lease incorporated herein, then Sublessor shall have and may exercise all rights and remedies against Sublessee as provided to Lessor in the event of default by Sublessor as set forth in the Lease. Any overdue payment shall bear interest at five (5) percentage points above the then prime rate of interest (or comparable rate of interest) per annum as published in the money market section of The Wall Street Journal or in another material financial publication reasonably selected by Sublessor or Lessor accruing from the date such installment or payment becomes due to the date payment is made by Sublessee.
DEFAULT OF SUBLESSEE. If Sublessee shall fail to pay any installment of rent when due hereunder or shall default in the observance or performance of any conditions or covenants to be kept, observed or performed by Sublessee hereunder, or shall default under any of the terms of the Lease incorporated herein, then Sublessor shall have and may exercise all rights and remedies against Sublessee as provided to Lessor in the event of default by Sublessor as set forth in the Lease. Any overdue payment shall bear interest at the rate of 18% per annum accruing from the date such installment or payment becomes due to the date payment is made by Sublessee.
DEFAULT OF SUBLESSEE. If Sublessee fails to pay when due any rental or other sums payable by Sublessee hereunder or if Sublessee violates or defaults in any of the provisions of this Sublease Agreement, and fails to initiate and reasonably pursue a cure of such violation or default within thirty (30) days after receipt of written notice from Sublessor detailing such violation or default, then Sublessor may terminate this Sublease Agreement by giving Sublessee an additional sixty (60) days advance written notice of Sublessor's intent to terminate this Sublease Agreement, and re-enter the Premises. Notwithstanding any re-entry, the liability of Sublessee for the rent shall not be extinguished for the balance of the term hereof, and Sublessee shall make good to Sublessor any deficiency arising from a re-entry and reletting of the Premises at a reduced rate. Sublessor shall make a good faith effort to sublet the Premises. Sublessee shall pay any deficiency on the first day of each month immediately following the month in which the amount of deficiency is ascertained by Sublessor.
DEFAULT OF SUBLESSEE. If Sublessee shall at any time be in default in the payment of rent, additional rent or of any other sum required to be paid by Sublessee under this Sublease for three (3) days after written notice thereof, or in the performance of or compliance with any of the terms, covenants, conditions or provisions of this Sublease or the Prime Lease for fifteen (15) days after written notice thereof, or violate the provisions of Paragraph 11 above, or if Sublessee shall be adjudicated as bankrupt, or shall make an assignment for the benefit of creditors, or shall file a xxxx in equity or otherwise initiate proceedings for the appointment of a receiver of Sublessee’s assets, or shall file any proceeding in bankruptcy or for reorganization or an arrangement under any federal or state law, then and in addition to any other rights or remedies Sublessor may have under this Sublease and at law and in equity, shall have the following rights:
DEFAULT OF SUBLESSEE. Upon any default by Sublessee hereunder, Sublessor may exercise any remedy against Sublessee which Landlord may exercise for a default by Sublessor under the Lease. Sublessee acknowledges that any act or omission on its part which would lead to a default under the Lease shall be a default by Sublessee hereunder. In addition, in recognition of Sublessor’s obligation to cure the same, Sublessee acknowledges that, to the extent a cure period applies to a potential event of default under this Sublease, such cure period shall be equal to half (rounded up for odd number of days) the cure period provided for in the Lease. The events of default under this Sublease shall be the same as Tenant’s defaults as set forth in the Lease; provided that the term “Lease” shall read to mean this “Sublease and the Lease,” and the term “Tenant” shall be read as “Sublessee.” In addition, Sublessor shall also be entitled to collect any amounts payable by Sublessee to Sublessor hereunder on the same terms as Landlord is entitled to collect such amounts from Sublessor under the Lease and as provided elsewhere in this Sublease, and to exercise against Sublessee, following the expiration of any applicable periods of notice and grace, the same remedies which Landlord is entitled to exercise against Sublessor under the Lease. In addition to those remedies set forth above, Sublessor shall have the right to pursue any one or more of the following remedies upon the default by Sublessee and the continuation of such default beyond applicable periods of notice and grace:
