Common use of Failure to Maintain Clause in Contracts

Failure to Maintain. In the event Tenant does not purchase the insurance required by this lease or keep the same in full force and effect, Landlord may, but shall not be obligated to purchase the necessary insurance and pay the premium. The Tenant shall repay to Landlord, as Additional Rent, the amount so paid promptly upon demand. In addition, Landlord may recover from Tenant and Tenant agrees to pay, as additional rent, any and all reasonable expenses (including attorneys’ fees) and damages which Landlord may sustain by reason of the failure to Tenant to obtain and maintain such insurance.

Appears in 2 contracts

Samples: Industrial Lease Agreement (Li-Cycle Holdings Corp.), Industrial Lease Agreement (Li-Cycle Holdings Corp.)

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Failure to Maintain. In the event Tenant does not purchase the insurance required by this lease Section 15.01 or keep the same in full force and effect, Landlord may, but shall not be obligated to purchase the necessary insurance and pay the premium. The Tenant shall repay to Landlord, as Additional Rentadditional rent, the amount so paid promptly upon demand. In addition, Landlord may recover from Tenant and Tenant agrees to pay, as additional rent, any and all reasonable expenses (including attorneys’ fees) and damages which Landlord may sustain by reason of the failure to Tenant to obtain and maintain such insurance.

Appears in 1 contract

Samples: Lease (Bazaarvoice Inc)

Failure to Maintain. In the event Tenant does not purchase the insurance required by this lease or keep the same in full force and effect, Landlord may, but shall not be obligated to purchase the necessary insurance and pay the premium, after five (10) days written notification to Tenant of Landlord’s intention. The Tenant shall repay to Landlord, as Additional Rentadditional rent, the amount so paid promptly upon demand. In addition, Landlord may recover from Tenant and Tenant agrees to pay, as additional rent, any and all reasonable expenses (including attorneys’ fees) and damages which Landlord may sustain by reason of the failure to Tenant to obtain and maintain such insurance.

Appears in 1 contract

Samples: Lease Agreement (Everspin Technologies Inc)

Failure to Maintain. In the event Tenant does not purchase the insurance required by this lease or keep the same in full force and effect, Landlord may, but shall not be obligated to purchase the necessary insurance and pay the premium. The Tenant shall repay to Landlord, as Additional Rentadditional rent, the amount so paid promptly upon demand. In addition, Landlord may recover from Tenant and Tenant agrees to pay, as additional rent, any and all reasonable expenses (including attorneys’ fees) and damages which Landlord may sustain by reason of the failure to of Tenant to obtain and maintain such insurance.

Appears in 1 contract

Samples: Office Lease (Catabasis Pharmaceuticals Inc)

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Failure to Maintain. In the event Tenant does not purchase the insurance required by this lease Lease or keep the same in full force and effect, Landlord may, but shall not be obligated to, after delivering written notice to Tenant and giving Tenant a reasonable opportunity to cure, purchase the necessary insurance and pay the premium. The Tenant shall repay to Landlord, as Additional additional Rent, the amount so paid promptly upon demand. In addition, Landlord may recover from Tenant and Tenant agrees to pay, as additional rentRent, any and all reasonable expenses (including without limitation attorneys’ fees) and damages which Landlord may sustain by reason of the failure to Tenant to obtain and maintain such insurance.

Appears in 1 contract

Samples: Lease (Talis Biomedical Corp)

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