Common use of Landlord’s Default and Tenant’s Remedies Clause in Contracts

Landlord’s Default and Tenant’s Remedies. In the event Landlord fails to perform any of its obligations under this Lease, Landlord shall nevertheless not be in default under the terms of this Lease until such time as Tenant shall have first given Landlord written notice specifying the nature of such failure to perform its obligations, and then only after Landlord shall have had thirty (30) days following its receipt of such notice within which to perform such obligations, or if such failure cannot be performed within thirty (30) days, then Landlord shall not be deemed to be in default hereunder if Landlord commences performance within a reasonable period of time after its receipt of such notice (but in no event more than thirty (30) days) and continues thereafter to diligently pursue completion of performance of such obligation. In the event of Landlord's default as above set forth, then, and only then, Tenant, in addition to its other rights and remedies, may then proceed in equity or at law to compel Landlord to perform its obligations and/or to recover damages proximately caused by such failure to perform (except as and to the extent Tenant has waived its right to damages as provided in this Lease).

Landlord’s Default and Tenant’s Remedies. In the event Landlord fails to perform any of its obligations under this Lease, Landlord shall nevertheless not be in default under the terms of this Lease until such time as Tenant shall have first given Landlord written notice specifying the nature of such failure to perform its obligations, and then only after Landlord shall have had thirty (30) days following its receipt of such notice (or, in the case of emergencies, two (2) days following its receipt of such notice) within which to perform such obligations; provided that, or if such failure cannot be performed within thirty (30) days, then Landlord shall not be deemed to be in default hereunder if Landlord commences performance within a reasonable period of time after its receipt of such notice (but in no event more longer than thirty (30) daysdays (or, in the case of emergencies, two (2) and continues thereafter to diligently pursue completion of performance days following its receipt of such obligationnotice) is reasonably required in order to perform such obligations, Landlord shall have such longer period, but in no event later than ninety (90) days following Landlord’s receipt of such notice. In the event of Landlord's ’s default as above set forth, then, and only then, Tenant, in addition to its other rights and remedies, Tenant may then proceed in equity or at law to compel Landlord to perform its obligations and/or to recover damages proximately caused by such failure to perform (except as and to the extent Tenant has waived its right to damages as provided in this Lease). For purposes of this Paragraph 12.3, an “Emergency” shall mean an event threatening immediate and material danger to people located in the Leased Premises or to the Leased Premises or creating an immediate and material interference with or interruption of Tenant’s business operations.

Landlord’s Default and Tenant’s Remedies. In the event Landlord fails to perform any of its obligations under this Lease, Landlord shall nevertheless not be in default under the terms of this Lease until such time as Tenant shall have first given Landlord written notice specifying the nature of such failure to perform its obligations, and then only after Landlord shall have had thirty (30) days following its receipt of such notice within which to perform such obligations; provided that, or if such failure cannot be performed within thirty (30) days, then Landlord shall not be deemed to be in default hereunder if Landlord commences performance within a reasonable period of time after its receipt of such notice (but in no event more longer than thirty (30) daysdays is reasonably required in order to perform such obligations and Landlord has reasonably commenced said performance within said thirty (30) and continues thereafter day period, Landlord shall have such longer period. Notwithstanding the foregoing, Landlord agrees to diligently pursue completion of performance of such obligationact with reasonable diligence in making repairs it is required to make to the Building or otherwise in performing its obligations hereunder. In the event of Landlord's default as above set forth, then, and only then, Tenant, in addition to its other rights and remedies, Tenant may then proceed in equity or at law to compel Landlord to perform its obligations and/or to recover damages proximately caused by such failure to perform (except as and to the extent Tenant has waived its right to damages as provided in this Lease).