Common use of Landlord’s Default Clause in Contracts

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).

Appears in 5 contracts

Sources: Lease Agreement (Dexcom Inc), Lease Agreement (Dexcom Inc), Lease Agreement (EPIX Pharmaceuticals, Inc.)

Landlord’s Default. If Tenant asserts that Landlord shall not be deemed has failed to be in breach of, or in default in the performance of, meet any of its obligations under this Lease unless it Lease, Tenant shall fail provide written notice (“Notice of Default”) to perform Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such obligation(sNotice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) and of such failure mortgage holder(s). Landlord shall continue for have a period of thirty (30) daysday period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed as much time thereafter to complete such cure any such breach or default as is necessary so long as Landlord’s cure efforts are diligent and continuous. if Landlord has not begun the cure within thirty (30) days of such notice receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to Landlord (or if such breach or default cannot be cured within said timecure, then within such additional time as may Landlord shall be necessary if within said thirty days in default under this Lease. If Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default)in default under this Lease, then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days days, after receipt of a second written notice from Tenant, within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced necessary so long as their efforts are diligent and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)continuous.

Appears in 5 contracts

Sources: Lease (Radiation Therapy Services Inc), Lease (Radiation Therapy Services Inc), Lease (Radiation Therapy Services Inc)

Landlord’s Default. If Landlord shall not be deemed to be in breach ofviolate, neglect or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue or observe any of the representations, covenants, provisions, or conditions contained in this Lease on its part to be performed or observed, which default continues for a period of more than thirty (30) daysdays after receipt of written notice from Tenant specifying such default (provided, however, such period shall be limited to two (2) business days with respect to a default under Section 31.17(c)), or if such default is of a nature to require more than thirty (30) days for remedy and continues beyond the time reasonably necessary to cure (provided Landlord must have undertaken procedures to cure the default within such thirty (30) day period and thereafter diligently pursues such efforts to cure to completion, provided that Landlord shall not have such additional time as is reasonably required period to correct any such breach cure with respect to default under Section 31.17(c)), Tenant, at its option (in addition to all other rights and remedies provided Tenant at law, in equity or defaulthereunder), after upon further written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant Tenant’s intention to exercise any remedy hereunder, which shall provide Landlord with an additional ten (10) days cure period thereafter (provided that Landlord shall not have no right such additional period to cure with respect to default under Section 31.17(c)), may either terminate this Lease upon written notice thereof given to Landlord, or incur any reasonable expense necessary to perform the obligation of Landlord specified in such notice and ▇▇▇▇ Landlord for any breach or default by the costs thereof. If Landlord hereunder and no right, for any such breach or default, fails to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to reimburse Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default reasonable costs within thirty (30) days after Landlord’s receipt of such notice to Landlord (or if ▇▇▇▇, Tenant may deduct such breach or default cannot be cured within said timecosts from the next due installments of Monthly Base Rent, then within until such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)costs are recouped by Tenant.

Appears in 3 contracts

Sources: Master Lease Agreement (Spirit MTA REIT), Master Lease (Spirit MTA REIT), Master Lease Agreement (Spirit Realty Capital, Inc.)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, of any of its obligations under this Lease hereunder unless it shall fail to perform such obligation(s) obligations and such failure shall continue for a period of thirty (30) days, days or such additional time as is reasonably required to correct any such breach or default, default after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Where provision is made in this Lease for Landlord's consent and Tenant further agrees that if shall request such consent and Landlord shall have failed fail or refuse to cure any give such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default canconsent, Tenant shall not be cured within said timeentitled to any damages for any withholding by Landlord of its consent, then within such additional time as may it being intended that Tenant's sole remedy shall be necessary if within said thirty days Landlord has commenced an action for specific performance or injunction (and is diligently pursuing the remedies necessary to cure such breach or defaultreimbursement of Tenant's reasonable legal fees and other out-of-pocket expenses incurred in successfully obtaining a final, unappealable injunction against Landlord), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled and that such remedy shall be available only in those cases where Landlord is expressly required not to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)withhold its consent unreasonably.

Appears in 3 contracts

Sources: Lease Agreement (Signal Pharmaceuticals Inc), Lease Agreement (Signal Pharmaceuticals Inc), Lease Agreement (Signal Pharmaceuticals Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 10.5 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). Where provision is made in this Lease for Landlord’s consent and Tenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, Tenant shall not be entitled to any damages and Tenant hereby waives any claim based on such failure, refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be entitled to bring an action for specific performance or injunction.

Appears in 3 contracts

Sources: Lease Agreement (AlerisLife Inc.), Lease Agreement (RMR Group Inc.), Lease Agreement (Reit Management & Research Inc.)

Landlord’s Default. Landlord shall not in no event be deemed to be in breach of, or in default in the performance of, of any of its Landlord’s obligations under this Lease unless it and until Landlord shall fail have failed to perform such obligation(s) and such failure shall continue for a period of obligation within thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, days after written notice has been given by Tenant to Landlord (“Tenant’s Default Notice”) specifying the nature manner in which Landlord has failed to perform any such obligation (provided that if correction of Landlord's alleged breach or defaultany such matter reasonably requires longer than thirty (30) days and Landlord so notifies Tenant within thirty (30) days after such Tenant’s Default Notice is given, Landlord shall be allowed such longer period, but only if cure is begun within such 30-day period and thereafter diligently prosecuted to completion). In the event of any default by Landlord hereunder, Tenant shall have no right to terminate this Lease for perform such Landlord obligation and recover from Landlord any breach costs so incurred, or (except as expressly otherwise provided in Section 6.03 above) to ▇▇▇▇▇ or withhold Rent, but Tenant shall have the right, in the event of a default by Landlord hereunder and no right, for any such breach or defaulthereunder, to offset commence and to prosecute an independent proceeding against Landlord for the recovery of damages or counterclaim against for equitable relief. This Lease shall be construed as though Landlord’s and Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any rent due hereunderstatute or judicial law to the contrary. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special special, consequential, or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)punitive damages.

Appears in 3 contracts

Sources: Lease (C4 Therapeutics, Inc.), Lease (C4 Therapeutics, Inc.), Lease Agreement (Kala Pharmaceuticals, Inc.)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or defaultdefault provided Landlord shall have commenced a cure within such thirty-day period after Tenant’s notice and Landlord is diligently pursuing such cure to completion. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). If, Tenant shall commence an action or proceeding against Landlord to enforce an obligation of Landlord under this Lease and Tenant shall obtain a final non-appealable judgment against Landlord in such proceeding after all appeals, Tenant shall be entitled to receive, in addition to any damages or other relief awarded, reasonable attorneys fees and court costs.

Appears in 2 contracts

Sources: Lease Agreement (Leap Therapeutics, Inc.), Lease Agreement (Leap Therapeutics, Inc.)

Landlord’s Default. If Landlord shall not be deemed to be in breach of, or in default defaults in the performance of, of any of its obligations under this Lease unless it shall fail Lease, Tenant will notify Landlord of the default and Landlord will have 30 days after receiving such notice to perform such obligation(s) and such failure shall continue for cure the default. If Landlord is not reasonably able to cure the default within a 30 day period, Landlord will have an additional reasonable period of thirty (30) days, or such additional time to cure the default as is reasonably required long as Landlord promptly commences the cure and thereafter diligently pursues the cure to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereundercompletion. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirectperson for consequential, special or consequential punitive damages suffered (including without limitation lost profits). If Landlord has not commenced repair or maintenance required to be performed by Landlord hereunder within 30 days after written notice thereof from Tenant, then Tenant from whatever cause. Tenant further agrees that if shall have the right, but not the obligation, to make such repairs and Landlord shall have failed to cure any such breach or default reimburse Tenant for the reasonable and actual cost thereof within thirty 30 days after receipt of a ▇▇▇▇ therefore from Tenant. In the event of an emergency, Tenant may (30) days of such notice to Landlord (or if such breach or default canbut shall not be cured within said timeobligated to) perform such repairs which would otherwise be Landlord’s obligation hereunder which may be reasonably necessary, then within after having given Landlord such additional time notice, if any, as may be necessary if within said thirty days practicable under the circumstances, and Landlord has commenced shall promptly reimburse Tenant for any reasonable third-party costs and is diligently pursuing expenses actually incurred by Tenant in performing such repairs. Notwithstanding anything to the remedies necessary to cure such breach or default)contrary set forth hereinabove, then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 Tenant shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may required to perform any repairs which would otherwise be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)Landlord’s obligation hereunder.

Appears in 2 contracts

Sources: Lease Agreement (G Iii Apparel Group LTD /De/), Lease Agreement (G Iii Apparel Group LTD /De/)

Landlord’s Default. In the event of any default by Landlord, Tenant (except in the event of emergencies) will give Landlord written notice specifying such default with particularity, and Landlord (except in the event of emergencies) shall not have thirty (30) days thereafter, or such longer period as may be required in the exercise of due diligence, but in no event more than sixty (60) days following such notice to Landlord, in which to cure such default. Provided that Landlord furnishes Tenant with the name and address of any mortgagee of Landlord, Tenant shall give notice to any mortgagee of Landlord of any claimed default hereunder, and Landlord’s mortgagee shall have an additional thirty (30) days over and above the thirty (30) days given to Landlord in which to cure such default, and a cure by Landlord’s mortgagee shall be deemed a cure by Landlord hereunder. Notwithstanding anything herein to be in breach ofthe contrary, or in default in the performance of, any of its obligations under this Lease unless it event Landlord shall fail to perform such obligation(s) pay any sums due hereunder to Tenant, and such failure shall continue for a period of thirty (30) daysdays (or such longer period permitted herein) after receipt by Landlord of written notice from Tenant, or such additional time as is reasonably required shall fail to correct perform any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged ’s obligations set forth in Article IV hereof, then Tenant may, in addition to any other rights set out in this Lease, (a) cure such default or breach or default. Tenant shall have no right to terminate this Lease for any breach or default by of Landlord hereunder and no right, for any sums expended by Tenant in curing such default or breach or default, to offset or counterclaim against any rent due hereunder. In no event shall be paid by Landlord ever be liable to Tenant for any punitive damages immediately upon demand, and shall bear interest at twelve percent (12%) per annum, not to exceed the maximum rate allowed by law, or for any loss of business or any other indirect, special or consequential damages suffered by Tenant (b) elect to bring suit to recover from whatever cause. Tenant further agrees that if Landlord shall have failed the sums due from Landlord to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)Tenant.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (Landrys Restaurants Inc)

Landlord’s Default. Landlord shall not be deemed Landlord's failure to be in breach of, perform or in default in the performance of, observe any of its Lease obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for after a period of thirty (30) daysbusiness days or the additional time, or such additional time as if any, that is reasonably required necessary to correct any such breach or promptly and diligently cure the failure after receiving notice from Tenant is a default. The notice shall give in reasonable detail the nature and extent of the failure. After Tenant receives notice of a mortgagee's name and address and request for notice upon Landlord's default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right provide the notice required by this paragraph to terminate this Lease for any breach or the mortgagee at the same time Tenant gives notice to Landlord. If Landlord commits a default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed fails to cure any such breach or default within thirty (30) business days of such after notice to Landlord from Tenant (or if such breach or default cannot be cured within said the additional time, then within such additional time as if any, that is reasonably necessary to promptly and diligently cure the failure after receiving notice from Tenant is a default), Tenant may be necessary if within said thirty days Landlord has commenced and is diligently pursuing pursue any remedies given in this Lease or under the remedies necessary law, including, without limitation, the right to cure such breach or default), then and the holder(sreasonable costs thereof together with Default Interest, as defined in Section 22.3, at Tenant's election, may be taken as a credit against twenty-five percent (25%) of any mortgage(sthe installment(s) of Base Rent next due hereunder or the lessor under any ground lease entitled may be billed to notice pursuant to Section 10.6 Landlord, in which case Landlord shall have an additional reimburse Tenant within thirty (30) business days within which to cure after the date of such breach or default if such breach or default can▇▇▇▇. In the event there is not be cured within that timesufficient time remaining under the Lease Term, then such additional time as Tenant may be necessary, if within such thirty take credit above twenty-five percent (3025%) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).reimburse prior to the end of the Term,

Appears in 2 contracts

Sources: Industrial Building Lease (Griffin Capital Essential Asset REIT II, Inc.), Industrial Building Lease (Griffin Capital Essential Asset REIT II, Inc.)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any “Default” of its obligations under this Lease unless it shall fail Landlord fails within a reasonable time to perform an obligation required to be performed by Landlord hereunder. For purposes of this provision (except as otherwise set forth below), a reasonable time shall not be less than thirty (30) days after receipt by Landlord of written notice specifying the nature of the obligation Landlord has not performed; provided, however, that if the nature of Landlord’s obligation is such obligation(s) and such failure shall continue for a period of that more than thirty (30) days, or such additional time as after receipt of written notice, is reasonably required to correct any such breach or defaultnecessary for its performance, after written notice has been given by Tenant to then Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any not be in breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that this Lease if Landlord shall have failed to cure any such breach or default within thirty (30) days performance of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has obligation is commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor day period and thereafter diligently pursued to completion. If Landlord has not commenced and is diligently pursuing the remedies necessary to cure the same within said thirty (30) day period or any other mutually agreed period and thereafter diligently prosecutes the same to completion and Landlord shall not thereafter cure such default. Tenant shall be entitled, in addition to all remedies otherwise available in law or equity under the laws of the United States and/or North Carolina, to (a) cure such default and/or deduct all such amounts from Rent, (b) bring suit for the collection of any amounts for which Landlord may be in default, or for the performance of any other covenant or agreement devolving upon Landlord, without terminating this Lease and/or (c) in an emergency, cure any such breach or default (including but not limited failure prior to commencement the expiration of foreclosure proceedings, the notice period if reasonably necessary to effect protect the Premises and/or parking for or access to the Premises, to prevent injury or damage to persons or property, or in the event of any other emergency and deduct all such cure)amounts from rent.

Appears in 2 contracts

Sources: Lease Agreement (Catalytica Energy Systems Inc), Lease Agreement (Renegy Holdings, Inc.)

Landlord’s Default. If Landlord shall not be deemed to be in breach ofviolate, neglect or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue or observe any of the representations, covenants, provisions, or conditions contained in this Lease on its part to be performed or observed, which default continues for a period of more than thirty (30) daysdays after receipt of written notice from Tenant specifying such default (provided, however, such period shall be limited to two (2) business days with respect to a default under Section 31.17(g)), or if such default is of a nature to require more than thirty (30) days for remedy and continues beyond the time reasonably necessary to cure (provided Landlord must have undertaken procedures to cure the default within such thirty (30) day period and thereafter diligently pursues such efforts to cure to completion, provided that Landlord shall not have such additional time as is reasonably required period to correct any such breach cure with respect to default under Section 31.17(g)), Tenant, at its option (in addition to all other rights and remedies provided Tenant at law, in equity or defaulthereunder), after upon further written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant Tenant’s intention to exercise any remedy hereunder, which shall provide Landlord with an additional ten (10) days cure period thereafter (provided that Landlord shall not have no right such additional period to cure with respect to default under Section 31.17(g)), may either terminate this Lease upon written notice thereof given to Landlord, or incur any reasonable expense necessary to perform the obligation of Landlord specified in such notice and ▇▇▇▇ Landlord for any breach or default by the costs thereof. If Landlord hereunder and no right, for any such breach or default, fails to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to reimburse Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default reasonable costs within thirty (30) days after Landlord’s receipt of such notice to Landlord (or if ▇▇▇▇, Tenant may deduct such breach or default cannot be cured within said timecosts from the next due installments of Monthly Base Rent, then within until such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)costs are recouped by Tenant.

Appears in 2 contracts

Sources: Master Lease (Spirit Finance Corp), Master Lease (Spirit Finance Corp)

Landlord’s Default. Landlord shall not be in default unless Landlord fails to perform obligations required of Landlord within a reasonable time, but in no event later than thirty (30) days after written notice by Tenant to Landlord and to the holder of any first mortgage or deed of trust covering the Demised Premises whose name and address shall have theretofore been furnished to Tenant in writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord's obligation is such that more than thirty (30) days are required for performance, then Landlord shall not be deemed to be in breach of, or in default in the if Landlord commences performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for within a period of thirty (30) days, or such additional time as is reasonably required day period and thereafter diligently prosecutes the same to correct any such breach or default, after written notice has been given by completion. In no event shall Tenant to Landlord specifying have the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or as a result of Landlord's default, and Tenant's remedies shall be limited to offset damages and/or an injunction. Whenever Tenant is required to serve notice on Landlord of Landlord's default, written notice shall also be served at the same time upon the mortgagee under any mortgage or counterclaim against beneficiary under any rent due hereunderdeed of trust. In no event shall Landlord ever be liable to Tenant for any punitive damages Such mortgagee or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord beneficiary shall have failed to cure any such breach or default within thirty (30) days the periods of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that timeLandlord' defaults as are provided in this Section 33.17, then such additional time as may be necessary, if within such thirty which periods shall commence to run ten (3010) days any such holder or lessor has commenced and is diligently pursuing after the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedingsthe periods within which Landlord must cure its defaults under this Section 33.17. In this connection, if necessary any representative of the mortgagee or beneficiary shall have the right to effect enter upon the Demised Premises for the purpose of curing the Landlord's default. Such mortgagee or beneficiary shall notify Landlord and Tenant in the manner provided by Section 33.24 of the address of such cure)mortgagee or beneficiary to which such notice shall be sent, and the agreements of Tenant hereunder are subject to prior receipt of such notice.

Appears in 2 contracts

Sources: Property Lease, Lease Agreement (Stellar Biotechnologies, Inc.)

Landlord’s Default. 19.8.1 Landlord shall not be deemed to be in breach of, or in default in under the performance of, any terms of its obligations under this Lease unless it (i) Landlord shall fail to perform pay any amount payable hereunder when and as such obligation(s) sum becomes due and payable and such failure shall continue for a period more than thirty (30) days after written notice thereof from Tenant or (ii) Landlord shall fail to perform its obligations under this Lease for more than thirty (30) days after written notice of such default shall have been received by Landlord, provided that if the curing of such default reasonably requires in excess of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed not be deemed in default hereunder if it shall commence to cure any such breach or default within such thirty (30) days of day period and thereafter diligently prosecutes such notice to Landlord (or if such breach or default cannot be cured within said timecure, then within Tenant shall have its rights and remedies provided at law and in equity and pursuant to the provisions of this Lease. 19.8.2 ▇▇▇▇▇▇ agrees to give any mortgagee by registered mail, a copy of any notice of default served upon Landlord, provided that before sending such additional time as may be necessary notice, ▇▇▇▇▇▇ has been notified in writing of the address of the mortgagee. Tenant further agrees, except in the event of an emergency, that if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary fails to cure such breach or default)any default within the time provided in this Lease, then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 mortgagee shall have an additional thirty (30) days within which to cure such breach or default the default, and if such breach or the default cannot be cured within that timethirty (30) days, then such reasonable additional time as may be necessary, necessary to cure the default will be granted if within such the initial thirty (30) days any such holder or lessor day period, the mortgagee has commenced and is diligently pursuing the its remedies necessary to cure such breach or the default (including including, but not limited to to, commencement of foreclosure proceedings, if necessary to effect such cure), in which event, the Lease shall not be terminated while such remedies are being so diligently pursued. 19.8.3 The provisions of this Section 19.8 shall survive the expiration or termination of this Lease.

Appears in 2 contracts

Sources: Office Lease (Rocket Companies, Inc.), Office Lease (Rocket Companies, Inc.)

Landlord’s Default. Should Landlord breach any of its duties or obligations to Tenant and, in the case of a monetary default, the breach continues for five (5) business days after written notice is given to Landlord, or in the case of a non-monetary default, the breach continues for ten (10) days (or such longer period of time as it may reasonably take to cure provided Landlord promptly and diligently pursues the cure and is not otherwise in default) after written notice of the breach is given to Landlord, Tenant may take such action as is reasonably necessary to cure the breach. In this event, Landlord shall, upon demand (accompanied by reasonable documentation supporting the demand) reimburse the Tenant for expenses reasonably incurred by Tenant in curing Landlord’s breach, including legal expenses and reasonable attorney fees. If Landlord shall fail to promptly reimburse Tenant, Tenant may withhold or ▇▇▇▇▇ its rental payment due to the extent of the unreimbursed expenses. In the event of any dispute about Tenant’s right to ▇▇▇▇▇ or withhold Rent or other sums payable to Landlord under this Section, Tenant must deposit the disputed amounts in escrow in an interest-bearing account with a national bank in Raleigh, North Carolina, conditioned on resolution of the dispute by a final, nonappealable court order or by mutual written agreement of Landlord and Tenant. Any interest earned shall be paid to the party entitled to the escrowed funds and any fees of the escrow agent shall be paid by the party not entitled to the escrowed funds. Regardless of the outcome or resolution of the dispute, no Event of Default with respect to the subject matter of the dispute shall be deemed to be have occurred so long as the disputed amounts are deposited in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given escrow by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)Tenant.

Appears in 2 contracts

Sources: Lease Agreement (Liquidia Technologies Inc), Lease Agreement (Liquidia Technologies Inc)

Landlord’s Default. If Landlord shall fail to perform any term or provision under this Lease required to be performed by Landlord, Landlord shall not be deemed to be in breach ofdefault hereunder nor subject to any claims for damages of any kind, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue have continued for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, days after written notice has been given thereof by Tenant to Landlord specifying Tenant; provided, if the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any ’s failure is such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within more than thirty (30) days of such notice are reasonably required in order to cure, Landlord (or if such breach or default canshall not be cured within said time, then within such additional time as may be necessary in default if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary commences to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if failure within such thirty (30) days any such holder or lessor has commenced day period, and is diligently pursuing the remedies necessary thereafter reasonably seeks to cure such breach failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period of time during which Landlord is delayed in, or default prevented from, curing due to fire or other casualty, strikes, lock-outs or other labor troubles, shortages of equipment or materials, governmental requirements, power shortages or outages, acts or omissions by Tenant or other Persons, and other causes beyond Landlord’s reasonable control. If Landlord shall fail to cure within the times permitted for cure herein, Landlord shall be subject to such remedies as may be available to Tenant under applicable Laws (including but not limited subject to commencement the other provisions of foreclosure proceedingsthis Lease); provided, if necessary in recognition that Landlord must receive timely payments of Rent and operate the Property, Tenant shall have no right of self-help to effect such cure)perform repairs or any other obligation of Landlord, and shall have no right to withhold, set-off, or a▇▇▇▇ Rent.

Appears in 2 contracts

Sources: Lease Agreement (Ulta Salon, Cosmetics & Fragrance, Inc.), Lease Agreement (Ulta Salon, Cosmetics & Fragrance, Inc.)

Landlord’s Default. Landlord shall not in no event be deemed to be in breach of, or in default in the performance of, of any of its Landlord’s obligations under this Lease unless it and until Landlord shall fail have failed to perform such obligation(s) and such failure shall continue for a period of obligation within thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, days after written notice has been given by Tenant to Landlord (“Tenant’s Default Notice”) specifying the nature manner in which Landlord has failed to perform any such obligation (provided that if correction of Landlord's alleged breach or defaultany such matter reasonably requires longer than thirty (30) days and Landlord so notifies Tenant within thirty (30) days after such Tenant’s Default Notice is given, Landlord shall be allowed such longer period, but only if cure is begun within such thirty (30) day period and thereafter diligently prosecuted to completion). In the event of any default by Landlord hereunder, Tenant shall have no right to terminate this Lease for perform such Landlord obligation and recover from Landlord any breach costs so incurred, or to ▇▇▇▇▇ or withhold Rent, but Tenant shall have the right, in the event of a default by Landlord hereunder and no right, for any such breach or defaulthereunder, to offset commence and to prosecute an independent proceeding against Landlord for the recovery of damages or counterclaim against for equitable relief. This Lease shall be construed as though Landlord’s and Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any rent due hereunderstatute or judicial law to the contrary. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special special, consequential, or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)punitive damages.

Appears in 2 contracts

Sources: Lease Agreement (Vigil Neuroscience, Inc.), Lease Agreement (Vigil Neuroscience, Inc.)

Landlord’s Default. In the event of any alleged default on the part of Landlord, Tenant shall give written notice to Landlord in the manner herein set forth and shall afford Landlord a reasonable opportunity to cure any such default (which shall not be deemed less than 30 days). Notice to Landlord of any such alleged default shall be ineffective unless such notice is simultaneously delivered to any Mortgagee. Tenant agrees to give all Mortgagees, by certified mail, return receipt requested, a copy of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified in breach ofwriting (by way of notice of assignment of rents and Leases, or in default in otherwise), of the performance of, any address of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever causeMortgagees. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional the time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default)provided for in this Lease, then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 Mortgagees shall have an additional thirty (30) 30 days within which to cure such breach default, or default if such breach or default cannot be cured within that time, then such additional time as may be necessarynecessary if, if within such thirty (30) days 30 days, any such holder or lessor Mortgagee has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, proceedings if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being diligently pursued. In no event will Landlord or any Mortgagee be responsible for any consequential damages incurred by Tenant as a result of any default, including, but not limited to lost profits or interruption of business as a result of any alleged default by Landlord hereunder.

Appears in 2 contracts

Sources: Lease Agreement (Smart Move, Inc.), Lease Agreement (Texas Rare Earth Resources Corp.)

Landlord’s Default. The occurrence of the following constitutes a “Landlord’s Default” under this Lease: Landlord’s failure to perform any obligation required to be performed by Landlord hereunder after (a) Tenant gives written notice to Landlord of such failure, (b) Landlord fails to commence and diligently prosecute the cure of such failure within thirty (30) days (or three (3) days in the event of a failure threatening the health or safety of the occupants of the Building) of such notice, (c) Tenant gives a second written notice to Landlord of such failure and (d) Landlord fails to commence and diligently prosecute the cure of such failure within ten (10) days (or three (3) days in the event of a failure threatening the health or safety of the occupants of the Building) of such second notice; provided, that if the nature of Landlord’s obligation is such that more than the designated time to cure such failure is required to effect such cure, then Landlord shall not be deemed to be in breach of, or in default in so long as Landlord is diligently pursuing such cure to completion. In the performance ofevent of a Landlord’s Default, any of its obligations under Tenant’s sole remedy shall be an action for damages or injunctive relief and the right to cure Landlord’s default at Tenant’s expense and set off against Rent coming due, subject to this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) daysSection 19; provided, or such additional time as is reasonably required to correct any such breach or defaulthowever, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. that Tenant shall have no right to terminate or rescind this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss upon the occurrence of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)a Landlord’s Default.

Appears in 2 contracts

Sources: Retail Lease Agreement (Slack Technologies, Inc.), Retail Lease Agreement (Slack Technologies, Inc.)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Where provision is made in this Lease for Landlord’s consent and Tenant further agrees that if shall request such consent and Landlord shall have failed fail or refuse to cure any give such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default canconsent, Tenant shall not be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant any damages for any withholding by Landlord of its consent, it being intended that Tenant’s sole remedy shall be an action for specific performance or injunction, and that such remedy shall be available only in those cases where Landlord is expressly required not to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)withhold its consent unreasonably.

Appears in 2 contracts

Sources: Lease Agreement (AxoGen, Inc.), Lease Agreement (AxoGen, Inc.)

Landlord’s Default. If Tenant asserts that Landlord shall not be deemed has failed to be in breach of, or in default in the performance of, meet any of its obligations under this Lease, Tenant shall provide written notice (“Notice of Default”) to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such Notice of Default to the Ground Lease unless it Landlord and to any and all mortgage holders, provided that Tenant has been previously advised of the addresses of such mortgage holder(s). Landlord shall fail to perform such obligation(s) and such failure shall continue for have a period of thirty (30) daysday period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed as much time thereafter to complete such cure any such breach or default as is necessary so long as Landlord’s cure efforts are diligent and continuous. However, if Landlord has not begun the cure within thirty (30) days of such notice receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to Landlord (or if such breach or default cannot be cured within said timecure, then within such additional time as may Landlord shall be necessary if within said thirty days in default under this Lease. If Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default)in default under this Lease, then the any mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days days, after receipt of a second written notice from Tenant, within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced necessary so long as their efforts are diligent and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)continuous.

Appears in 2 contracts

Sources: Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Holdings, Inc.)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent rant due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said timetime and provided Tenant may still conduct its business in the Premises without material interference, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default defauIt cannot be cured within that timetime and provided Tenant may still conduct its business in the Premises without material interference, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).necessary

Appears in 1 contract

Sources: Lease Agreement (Clear Skies Solar, Inc)

Landlord’s Default. In the event of any breach or default by Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) Lease, which breach or default renders a material portion of the Premises unusable for the conduct of Tenant's business and such failure shall continue continues for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, days after written notice has been given thereof from Tenant (or with reasonable notice in case of an emergency), then in addition to all other rights and remedies of Tenant under this Lease and at law or equity, Tenant may, but shall not be obligated to, cure such breach on behalf of Landlord and upon demand by Tenant, Landlord shall promptly pay to Tenant the costs and expenses of such cure, together with interest accruing on such amounts paid by Tenant to Landlord specifying at the rate set forth in Section 1.9. If, however, other than in the case of an emergency, the nature of Landlordsuch breach is such that it cannot be cured within thirty (30) days, then Tenant's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any cure such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant suspended for any punitive damages or for any loss such additional period of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed time as may be necessary to cure any such the breach or default so long as Landlord commences cure within thirty (30) days and thereafter diligently and continuously prosecutes the curing of the breach, and so long as continuation of the breach does not create material risk to the Premises or to persons using the Premises. When Tenant makes demand for payment, Tenant shall furnish Landlord with an itemized statement of the costs and expenses incurred for cure. If Landlord fails to pay any sums due Tenant under this Lease within ten (10) days after demand, Tenant may deduct up to $5,000 of the amounts paid by Tenant from rent then or thereafter due from Tenant. In the case of an emergency, a situation threatening to the safety of Tenant's employees, agents, contractors, invitees and licensees or damage to Tenant's personal property, Tenant may take such notice to Landlord (or if such breach or default cannot be cured within said timeimmediate action, then within such additional time after notifying Landlord, as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced ensure safety and is diligently prevent damage. Nothing above prevents Tenant from pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)other remedies.

Appears in 1 contract

Sources: Industrial Net Lease (Homegrocer Com Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for have a period of thirty (30) days, or such additional time as is reasonably required to correct days from the date of written notice from Tenant of Landlord’s default (any such breach or defaultnotice, after written notice has been given by Tenant a “Landlord Default Notice”) to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for cure any breach or default by Landlord hereunder and no rightunder this Lease; provided, for however, that with respect to any such breach or defaultdefault that cannot reasonably be cured within thirty (30) days, the default shall not be deemed to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that uncured if Landlord shall have failed commences to cure any such breach or default within thirty (30) days from receipt of the Landlord Default Notice and continues to prosecute diligently the curing thereof. Tenant agrees to give any Mortgagee, by registered or certified mail, a copy of any Landlord Default Notice served upon the Landlord, provided that prior to such notice Tenant has been notified in writing of the address of such Mortgagee. If Landlord fails to cure such default within the time provided for in this Lease, then the Mortgagee shall have an additional thirty (30) days after the expiration of such cure period within which to cure such default (provided that Tenant notifies Mortgagee concurrently with Tenant’s delivery of the Landlord Default Notice to Landlord; otherwise, Mortgagee shall have thirty (30) days from the later of the date on which it receives notice to Landlord (or if of the default from Tenant and the expiration of Landlord’s cure period). If such breach or default cannot be cured by Mortgagee within said timethe cure period, then within such additional time Tenant may not exercise any of its remedies so long as may be necessary if within said thirty days Landlord Mortgagee has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including including, but not limited to to, commencement of foreclosure proceedings, if necessary to effect such cure).

Appears in 1 contract

Sources: Lease Agreement (Mercury Interactive Corporation)

Landlord’s Default. In the event of any act or omission of Landlord constituting a default by Landlord, other than Landlord’s failure to have the Improvements substantially completed on a timely basis as provided in Article II and to make the same fully available to Tenant as therein provided, Tenant shall not be deemed exercise any remedy until Tenant has given Landlord and any mortgagee whose name and address have been previously provided to be in breach of, Tenant prior written notice of such act or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) omission and such failure shall continue for until a 30-day period of thirty (30) days, time to allow Landlord or the mortgagee to remedy such additional time as is reasonably required to correct any such breach act or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant omission shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days elapsed following the giving of such notice to Landlord (or notice; provided, however, if such breach act or default omission cannot with due diligence and in good faith be cured within said time, then remedied within such additional 30-day period, Landlord and/or mortgagee shall be allowed such further period of time as may be reasonably necessary if provided that it shall have commenced remedying the same with due diligence and in good faith within said thirty days 30-day period. In the event any act or omission of Landlord has commenced and is diligently pursuing the remedies necessary which constitutes a Landlord’s default hereunder results in an immediate threat of bodily harm to Tenant’s employees, agents or invitees or damage to Tenant’s property, or exposes Tenant to criminal liability, Tenant may proceed to cure such breach the default without prior notice to Landlord or default)its mortgagee; provided, then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled however, in that event Tenant shall give written notice to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time Landlord and its mortgagee as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to soon as possible after commencement of foreclosure proceedings, if necessary to effect such cure). Nothing herein contained shall be construed or interpreted as requiring any mortgagee to remedy such act or omission.

Appears in 1 contract

Sources: Lease Agreement (American Residential Investment Trust Inc)

Landlord’s Default. (a) The following shall constitute events of default by Landlord: (i) Landlord shall not be deemed to be in breach ofdefault under the IRB Lease, or in default in the performance of, any of its obligations under this Lease unless it if Landlord shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, cure or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed commence to cure any such breach or default (to the extent that such cure may be made under the IRB Lease) within thirty (30) days after written notice from Tenant (provided, however, that Landlord shall provide Tenant with prompt notice of any IRB default of Landlord when Landlord becomes aware of such notice to default); (ii) Landlord (shall file or have filed against it, voluntarily or involuntarily, a petition in bankruptcy or shall be adjudicated a bankrupt or insolvent, or shall take the benefit of any relevant legislation that may be in force for bankrupt or insolvent debtors or shall file or have filed against it, voluntarily or involuntarily, any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation, or if such breach Landlord shall seek or default canconsent to or acquiesce in the appointment of any trustee, receiver or liquidator of Landlord or of any substantial part of its properties, or shall make any general assignment for the benefit of creditors. (iii) Landlord shall fail to perform or observe any other term or condition contained in this Lease and Landlord shall not be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary cure or commence to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional failure within thirty (30) days within which after receipt of Landlord's written notice by Tenant. (b) In the event any one or more of the above shall occur, Tenant shall have the right to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty terminate this Lease upon the expiration of fifteen (3015) days after receipt of Tenant's written notice by Landlord. (c) Should Tenant at any time terminate this Lease for any breach, Tenant shall still have such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)as are available at law.

Appears in 1 contract

Sources: Lease Agreement (Andersons Inc)

Landlord’s Default. If Landlord shall fail to perform any term or provision under this Lease required to be performed by Landlord, Landlord shall not be deemed to be in breach ofdefault hereunder nor subject to any claims for damages of any kind, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue have continued for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, days after written notice has been given thereof by Tenant to Landlord specifying Tenant; provided, if the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any failure is such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within more than thirty (30) days of such notice are reasonably required in order to cure, Landlord (or if such breach or default canshall not be cured within said time, then within such additional time as may be necessary in default if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary commences to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if failure within such thirty (30) days any such holder or lessor has commenced day period, and is diligently pursuing the remedies necessary thereafter reasonably seeks to cure such breach failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period of time during which Landlord is delayed in, or default prevented from, curing due to fire or other casualty, strikes, lockouts or other labor troubles, shortages of equipment or materials, governmental requirements, power shortages or outages, acts or omissions by Tenant or other Persons, and other causes beyond Landlord's reasonable control. If Landlord shall fail to cure within the times permitted for cure herein, Landlord shall be subject to such remedies as may be available to Tenant (including but not limited subject to commencement the other provisions of foreclosure proceedingsthis Lease); provided, if necessary in recognition that Landlord must receive timely payments of Rent and operate the Property, Tenant shall have no right of self help to effect such cure)perform repairs or any other obligations of Landlord, and shall have no right to withhold, set off, or ▇▇▇▇▇ Rent.

Appears in 1 contract

Sources: Office Lease (Unison Software Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, of any of its obligations under this Lease hereunder unless it shall fail to perform such obligation(s) obligations and such failure shall continue for a period of thirty (30) days, days or such additional time as is reasonably required to correct any such breach or default, default after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach default or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, necessary if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being so diligently pursued. Where provision is made in this Lease for Landlord's consent and Tenant shall request such consent and Landlord shall fail or refuse to give such consent, Tenant shall not be entitled to any damages for any withholding by Landlord of its consent, it being intended that Tenant's sole remedy shall be an action for specific performance or injunction, and that such remedy shall be available only in those cases where Landlord is expressly required not to withhold its consent unreasonably.

Appears in 1 contract

Sources: Lease (Perficient Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any An “Event of its obligations Default by Landlord” under this Lease unless it shall fail occur if Landlord has breached or failed to perform such obligation(s) any covenant, agreement or undertaking of Landlord under this Lease and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required has not commenced to correct any cure such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default failure within thirty (30) days of such receipt of written notice thereof from Tenant, and diligently and in good faith continued to Landlord (or if such cure the breach or default failure until completion. If the breach or failure cannot reasonably be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary day period, Landlord shall not be in default if Landlord commences to cure the breach or failure within the thirty (30) day period and diligently and in good faith continues to prosecute the cure of said breach or failure to completion, provided such breach or failure is cured within one hundred and eighty (180) days after Landlord’s receipt of written notice thereof, subject to extension for reasons due to Force Majeure. Upon the occurrence of any Event of Default by Landlord, ▇▇▇▇▇▇’s sole and exclusive remedy shall be a suit for monetary damages against Landlord. In no event shall Tenant have the right to terminate this Lease or offset or ▇▇▇▇▇ any sums due to Landlord hereunder as a result of a default (including but not limited by ▇▇▇▇▇▇▇▇. No waiver by Tenant of any ​ ​ violation or breach of any of the terms, provisions and covenants herein contained by Landlord shall be deemed or construed to commencement constitute a waiver of foreclosure proceedingsany other violation or breach of any of the terms, if necessary to effect such cure)provisions and covenants contained herein.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Atlantic Union Bankshares Corp)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in under the performance of, any terms of its obligations under this Lease unless it (i) Landlord shall fail to perform pay any amount payable hereunder when and as such obligation(s) sum becomes due and payable and such failure shall continue for a more than thirty (30) days after written notice thereof from Tenant or (ii) Landlord shall fail to perform its obligations under this Lease for more than thirty (30) days after written notice of such default shall have been received by Landlord (except in the event of an Emergency, in which case no notice or cure period shall be required), provided that if the curing of such default reasonably requires in excess of thirty (30) daysdays (except in the case of an Emergency), or Landlord shall not be deemed in default hereunder if it shall commence to cure such additional time as is reasonably required to correct any default within such breach or defaultthirty ( 30) day period and thereafter diligently prosecutes such cure, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. then Tenant shall have no right its rights and remedies provided at law and in equity and pursuant to terminate the provisions of this Lease for any breach Lease. In addition and notwithstanding the foregoing or default by Landlord hereunder and no rightanything else to the contrary contained in this Lease, for if any such breach or defaultdefault materially and adversely affects Tenant's use of the Demised Premises then, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have the right but not the obligation to cure or correct said default provided Tenant shall give Landlord five (5) days' prior written notice of its intention to cure or correct the Landlord default (and for defaults for which Landlord is provided a five (5) day cure period, Landlord has failed to cure any such breach or said default within thirty (30such five ( 5) days day cure period) except in an Emergency when only reasonable notice will be provided. In connection with the exercise of such notice its rights under this Section, Tenant shall use reasonable efforts not to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as materially and adversely affect other tenants' occupancy of the Building and Tenant may be necessary if within said thirty days Landlord has commenced and is diligently pursuing only engage the remedies necessary Contractors to cure such breach or default), then perform any work involving the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)Critical Building Systems.

Appears in 1 contract

Sources: Lease (Covisint Corp)

Landlord’s Default. The occurrence of the following constitutes a “Landlord’s Default” under this Lease: Landlord’s failure to perform any obligation required to be performed by Landlord hereunder after (a) Tenant gives written notice to Landlord of such failure, (b) Landlord fails to commence and diligently prosecute the cure of such failure within thirty (30) days (or three (3) days in the event of a failure threatening the health or safety of the occupants of the Building) of such notice, (c) Tenant gives a second written notice to Landlord of such failure and (d) Landlord fails to commence and diligently prosecute the cure of such failure within ten (10) days (or three (3) days in the event of a failure threatening the health or safety of the occupants of the Building) of such second notice; provided, that if the nature of Landlord’s obligation is such that more than the designated time to cure such failure is required to effect such cure, then Landlord shall not be deemed to be in breach of, or in default in so long as Landlord is diligently pursuing such cure to completion. In the performance ofevent of a Landlord’s Default, any of its obligations under Tenant’s sole remedy shall be an action for damages or injunctive relief and the right to cure Landlord’s default at Tenant’s expense and set off against Rent coming due, subject to this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) daysParagraph 21; provided, or such additional time as is reasonably required to correct any such breach or defaulthowever, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. that Tenant shall have no right to terminate or rescind this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss upon the occurrence of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)a Landlord’s Default.

Appears in 1 contract

Sources: Office Lease Agreement (Slack Technologies, Inc.)

Landlord’s Default. Should Landlord shall not be deemed breach any of its duties or obligations to be Tenant and, in the case of a monetary default, the breach ofcontinues for five (5) business days after written notice is given to Landlord, or in default in the performance of, any case of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or non-monetary default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease continues for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional longer period of time as it may be necessary if within said thirty days reasonably take to cure provided Landlord has commenced promptly and diligently pursues the cure and is diligently pursuing not otherwise in default) after written notice of the remedies breach is given to Landlord, Tenant may take such action as is reasonably necessary to cure such breach the breach. In this event, Landlord shall, upon demand (accompanied by reasonable documentation supporting the demand) reimburse the Tenant for expenses reasonably incurred by ▇▇▇▇▇▇ in curing Landlord's breach, including legal expenses and reasonable attorney fees. If Landlord shall fail to promptly reimburse Tenant, Tenant may withhold or default), then ▇▇▇▇▇ its rental payment due to the holder(s) extent of the unreimbursed expenses. In the event of any mortgage(s) dispute about ▇▇▇▇▇▇'s right to ▇▇▇▇▇ or withhold rent or other sums payable to Landlord under this Section, Tenant must deposit the lessor under any ground lease disputed amounts in escrow in an interest-bearing account with a national bank in Raleigh, North Carolina, conditioned on resolution of the dispute by a final, nonappealable court order or by mutual written agreement of Landlord and ▇▇▇▇▇▇. Any interest earned shall be paid to the party entitled to notice pursuant the escrowed funds and any fees of the escrow agent shall be paid by the party not entitled to Section 10.6 the escrowed funds. Regardless of the outcome or resolution of the dispute, no Event of Default with respect to the subject matter of the dispute shall be deemed to have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time occurred so long as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)disputed amounts are deposited in escrow by ▇▇▇▇▇▇.

Appears in 1 contract

Sources: Lease Agreement (Larscom Inc)

Landlord’s Default. Should Landlord shall not be deemed to be in breach of, or in default in the performance of, of any of its obligations under this Lease unless it shall fail the covenants on the part of Landlord to perform such obligation(s) be kept or performed and such failure default shall continue for a period of thirty (30) days after receipt of written notice from Tenant stating the nature and extent of the default (an "EVENT OF DEFAULT BY LANDLORD"), and provided that Landlord is diligently pursuing such cure, Landlord shall have additional time, not in excess of 60 days, or as may be reasonably necessary to cure such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant shall, at its option, and in addition to Landlord specifying any other remedy available to Tenant at law or in equity, have the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for upon delivery of written notice to Landlord, or cure the Event of Default by Landlord, including, but not limited to, the making of any breach repairs or default by replacements to the Leased Premises, and Landlord hereunder and no rightshall reimburse Tenant, on demand, for all of Tenant's reasonable, out-of-pocket costs. Notwithstanding the foregoing, Tenant may cure any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of with only such notice to Landlord (as is reasonable under the circumstances, where the failure to promptly cure such default would create or if allow to persist a condition constituting an imminent threat to human health or substantial damage to property. Any default notice to landlord shall also be given to any lender for Landlord with respect to which Landlord gives Tenant notice of such breach or default canlender's name and address, and such lender shall have the right, but not be cured within said timethe obligation, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then . Upon final judicial determination of the holder(s) validity and amount of any mortgage(s) costs incurred by Tenant in performing any of the Landlord's obligations hereunder as aforesaid, Tenant may set-off such costs incurred by Tenant against Rent or and any other payment by the lessor under any ground lease entitled Tenant due or to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)become due hereunder.

Appears in 1 contract

Sources: Land and Building Lease Agreement (Aerobic Creations, Inc.)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if default. Where provision is made in this Lease for Landlord’s consent and Tenant shall request such breach consent and Landlord shall fail or default canrefuse to give or shall delay in giving such consent, Tenant shall not be cured within that timeentitled to any damages and Tenant hereby waives any claim based on such failure, then such additional time as may refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be necessary, if within such thirty (30) days any such holder entitled to bring an action for specific performance or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)injunction.

Appears in 1 contract

Sources: Lease (Curis Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, of any of its obligations under this Lease unless it Landlord shall fail to perform such obligation(s) obligations and such failure shall continue for a period of thirty days (30) days, or such additional time as is reasonably required to correct any such breach or default, default provided that Landlord is diligently pursuing the cure of the same) after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. In the event of any default by Landlord hereunder, Tenant shall have no right to terminate this Lease Lease, or to ▇▇▇▇▇ or withhold Rent, or to deduct from Rent any amount expended or to be expended by Tenant to perform any obligation of Landlord hereunder, or to offset or interpose any counterclaim for any breach amount in any action or proceeding commenced by Landlord with respect to this Lease or the tenancy created hereunder, but Tenant shall have the right, in the event of a default by Landlord hereunder and no right, for any such breach or defaulthereunder, to offset exercise all other remedies available to Tenant, at law or counterclaim against any rent due hereunderin equity, because of such default by Landlord. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special special, or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 5.3 shall have an additional thirty (30) days within which to cure such breach default or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any following the date that such holder or lessor has commenced and is diligently pursuing the remedies becomes entitled to cure such default as may be necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).

Appears in 1 contract

Sources: Lease (A123 Systems Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, of any of its obligations obligation under this Lease unless and until it shall fail has failed to perform such obligation(s) and such failure shall continue for a period of obligation within thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, days after receipt of written notice has been given by Tenant to Landlord specifying such failure; provided, however, that if the nature of Landlord's alleged breach or defaultdefault is such that more than thirty (30) days are required for its cure, then Landlord shall not be deemed to be in default if it commences such cure within the thirty (30) day period and thereafter diligently prosecutes such cure to completion. Tenant shall have no right agrees to terminate this Lease for give any breach Mortgagee a copy, by registered mail, of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or default by Landlord hereunder and no rightotherwise), for any of the address of such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever causeMortgagee. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 Mortgagee shall have an additional thirty forty-five (3045) days within which to cure such breach default on the part of the Landlord or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, necessary if within such thirty that forty-five (3045) days any such holder or lessor the Mortgagee has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).

Appears in 1 contract

Sources: Lease (Exstar Financial Corp)

Landlord’s Default. If Landlord shall not be deemed to be in breach ofviolate, neglect or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue or observe any of the representations, covenants, provisions, or conditions contained in this Lease on its part to be performed or observed, which default continues for a period of more than thirty (30) daysdays after receipt of written notice from Tenant specifying such default (provided, however, such period shall be limited to two (2) business days with respect to a default under Section 31.17(c)), or if such default is of a nature to require more than thirty (30) days for remedy and continues beyond the time reasonably necessary to cure (provided Landlord must have undertaken procedures to cure the default within such thirty (30) day period and thereafter diligently pursues such efforts to cure to completion, provided that Landlord shall not have such additional time as is reasonably required period to correct any such breach cure with respect to default under Section 31.17(c)), Tenant, at its option (in addition to all other rights and remedies provided Tenant at law, in equity or defaulthereunder), after upon further written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant Tenant’s intention to exercise any remedy hereunder, which shall provide Landlord with an additional ten (10) days cure period thereafter (provided that Landlord shall not have no right such additional period to cure with respect to default under Section 31.17(c)), may either terminate this Lease upon written PHIL1 681004v.14 notice thereof given to Landlord, or incur any reasonable expense necessary to perform the obligation of Landlord specified in such notice and ▇▇▇▇ Landlord for any breach or default by the costs thereof. If Landlord hereunder and no right, for any such breach or default, fails to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to reimburse Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default reasonable costs within thirty (30) days after Landlord’s receipt of such notice to Landlord (or if ▇▇▇▇, Tenant may deduct such breach or default cannot be cured within said timecosts from the next due installments of Monthly Base Rent, then within until such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)costs are recouped by Tenant.

Appears in 1 contract

Sources: Master Lease (Spirit Realty Capital, Inc.)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).

Appears in 1 contract

Sources: Lease Agreement (Dexcom Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for have a period of thirty (30) days, or such additional time as is reasonably required to correct days from the date of written notice from Tenant of Landlord’s default (any such breach or defaultnotice, after written notice has been given by Tenant a “Landlord Default Notice”) to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for cure any breach or default by Landlord hereunder and no rightunder this Lease; provided, for however, that with respect to any such breach or defaultdefault that cannot reasonably be cured within thirty (30) days, the default shall not be deemed to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that uncured if Landlord shall have failed commences to cure any such breach or default within thirty (30) days from receipt of the Landlord Default Notice and continues to prosecute diligently the curing thereof. Tenant agrees to give any Mortgagee, by registered or certified mail, a copy of any Landlord Default Notice served upon the Landlord, provided that prior to such notice Tenant has been notified in writing of the address of such Mortgagee. If Landlord fails to cure such default within the time provided for in this Lease, then the Mortgagee shall have an additional thirty (30) days after the expiration of such cure period within which to cure such default (provided that Tenant notifies Mortgagee concurrently with Tenant’s delivery of the Landlord Default Notice to Landlord; otherwise, Mortgagee shall have thirty (30) days from the later of the date on which it receives notice to Landlord (or if of the default from Tenant and the expiration of Landlord’s cure period). If such breach or default cannot be cured within said timeby Mortgagee within, then within such additional time the cure period, Tenant may not exercise any of its remedies so long as may be necessary if within said thirty days Landlord Mortgagee has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including including, but not limited to to, commencement of foreclosure proceedings, if necessary to effect such cure).

Appears in 1 contract

Sources: Sub Sublease (Reliant Technologies Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in -------------------------------- default in the performance of, of any of its obligations under this Lease unless it Landlord shall fail to perform such obligation(s) obligations and such failure shall continue for a period of thirty days (30) days, or such additional time as is reasonably required to correct any such breach or default, ) after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or defaultdefault of Landlord hereunder, to offset or to interpose any counterclaim against in any action or proceeding commenced with respect to this Lease or the tenancy created hereunder, whether to collect any rent due hereunder. In no event shall Landlord ever be liable hereunder or to Tenant for any punitive damages obtain possession of the Premises or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever causeotherwise. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies reasonably necessary to cure such breach or default), then the holder(s) of any mortgage(sMortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 Subsection 9.2.4 shall have an additional thirty (30) days within which to cure such breach default or default if such breach or default cannot be cured within that time, then such additional time following the date that such holder becomes entitled to cure such default as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies reasonably necessary to cure such breach or default (including but not limited to commencement and prosecution of foreclosure proceedings, if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being so diligently pursued.

Appears in 1 contract

Sources: Lease Agreement (Yurie Systems Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Upon a Landlord default, Tenant may pursue whatever remedies it has at law or in equity or under the terms of this Lease (including, without limitation, Tenant’s rights pursuant to Section 5.2 of this Lease). Landlord’s failure to perform any of its obligations hereunder shall not be deemed an eviction of Tenant (constructive or actual), and Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Where provision is made in this Lease for Landlord’s consent and Tenant further agrees that if shall request such consent and Landlord shall have failed fail or refuse to cure any give or shall delay in giving such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default canconsent, Tenant shall not be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant any damages for any withholding by Landlord of its consent, it being intended that Tenant’s sole remedy shall be an action for specific performance or injunction, and that such remedy shall be available only in those cases where Landlord is expressly required not to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)withhold its consent unreasonably.

Appears in 1 contract

Sources: Lease Agreement (Cytek BioSciences, Inc.)

Landlord’s Default. Landlord shall be deemed to be in default under this Lease if Tenant has given written notice (or verbal notice, in case of emergency, followed by written notice as soon as is practicable under the circumstances) to Landlord (and, if requested by Landlord, to Landlord’s mortgagee if the mortgagee has notified Tenant in writing of its interest and the address to which such notices are to be sent) of any such default by Landlord and Landlord has failed to cure such default within thirty (30) days (or with reasonable promptness, in case of emergency) after Landlord received notice thereof. Provided, however, that if the nature of Landlord’s default in a non-emergency situation is such that more than thirty (30) days are reasonably required for a cure, then Landlord shall not be deemed to be in breach of, or in default in if Landlord commences such cure within the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of original thirty (30) days, or such additional time as is reasonably required day period and thereafter diligently prosecutes the cure to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or defaultcompletion. Tenant shall have no right be entitled to terminate this a fair and reasonable abatement of Rent during the time and to the extent that the Premises are untenantable as a result of Landlord’s failure to perform any condition or covenant required under the Lease for to be performed by Landlord. The failure of Tenant to pursue any remedy shall not be deemed as a waiver by reason of any subsequent breach or default breaches by Landlord hereunder and no right, for the Landlord. The exercise of any such breach remedy by Tenant shall not be deemed an election of remedies or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to preclude Tenant for any punitive damages or for any loss of business or from exercising any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing remedies in the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)future.

Appears in 1 contract

Sources: Lease Agreement (Wave Life Sciences Pte LTD)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of unless Landlord fails to perform its obligations under this Lease unless it shall fail to perform such obligation(swithin a reasonable time, but in no event later than fifteen (15) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, days after written notice has been given by Tenant to Landlord and to the holder of any first mortgage or deed of trust covering the Premises whose name and address shall have theretofore been furnished to Tenant in writing and specifying how Landlord has failed to perform such obligations and the acts required to cure the same; provided, however, that if the nature of Landlord's alleged breach or defaultobligation is such that more than fifteen (15) days are required for performance, Landlord shall not be in default if Landlord commences performance within such fifteen (15) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant shall have no the right to terminate this Lease for any breach or as a result of Landlord's default by Landlord hereunder and no right, for any such breach or default, Tenant's remedies shall be limited to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive (1) damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty and/or (302) days of such an injunction and/or (3) following an additional fifteen (15) days' written notice to Landlord (or if such breach or specifying the alleged defaults and the actions Tenant intends to undertake, Tenant may cure any Landlord default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days which Landlord has commenced and is diligently pursuing the remedies necessary fails to cure within the time limit set forth in this Section and said additional fifteen (15) day period so long as such breach default results in a material impairment of Tenant's ability to conduct its business at the Premises or default), then an immediate threat of the holder(s) lapse of any mortgage(s) or insurance policy required to be maintained by Landlord by this Lease. Any sums so expended by Tenant for the lessor under any ground lease entitled to notice pursuant to Section 10.6 reasonable costs of effecting such cure shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)reimbursed by Landlord upon demand.

Appears in 1 contract

Sources: Office Lease Agreement (Drugstore Com Inc)

Landlord’s Default. Landlord shall not be deemed If Tenant asserts that ▇▇▇▇▇▇▇▇ has failed to be in breach of, or in default in the performance of, meet any of its obligations under this Lease unless it Lease, Tenant shall fail provide written notice (“Notice of Default”) to perform Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such obligation(sNotice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) and of such failure mortgage holder(s). Landlord shall continue for have a period of thirty (30) daysday period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed as much time thereafter to complete such cure any such breach or default as is necessary so long as Landlord’s cure efforts are diligent and continuous,. if Landlord has not begun the cure within thirty (30) days of such notice receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to Landlord (or if such breach or default cannot be cured within said timecure, then within such additional time as may Landlord shall be necessary in default under this Lease, if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default)in default under this Lease, then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days days, after receipt of a second written notice from Tenant, within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessarynecessary so long as their efforts are diligent and continuous. Landlord’s Options. If Tenant is in default of this Lease, if within Landlord may, at its option, in addition to such thirty (30) days any such holder or lessor has commenced and other remedies as may be available under the law of the State where the Center is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).located:

Appears in 1 contract

Sources: Lease Agreement (Radiation Therapy Services Holdings, Inc.)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail if Landlord fails to perform such obligation(s) any of Landlord's obligations hereunder and such said failure shall continue continues for a period of thirty (30) daysdays after Tenant delivers written notice thereof to Landlord, provided that if such failure cannot reasonably be cured within said 30-day period, Landlord shall not be in default hereunder if the curative action is commenced within said 30-day period and is thereafter diligently pursued until cured. In no event shall (a) Tenant claim a constructive or actual eviction or that the Premises have become unsuitable hereunder, or such additional time (b) a constructive or actual eviction or breach of the implied warranty of suitability be deemed to have occurred under this Lease, prior to the expiration of the notice and cure periods provided under this Section 13.9. Tenant is granted no contractual right of termination by this Lease except as may be expressly set forth herein, and Tenant is reasonably required granted no contractual right of offset or deduction with respect to correct Tenant except to the extent expressly set forth in this Lease. Moreover, Tenant's remedies for any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereundershall be limited by the terms of Section 16.4 hereof. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirectpunitive, incidental, special or consequential damages suffered arising under or in connection with this Lease, even if Tenant or Landlord has been advised of the possibility of such damages, any claims for such damages being hereby knowingly and voluntarily waived and released by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced for all purposes under and is diligently pursuing in connection with this Lease and the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)Premises.

Appears in 1 contract

Sources: Office Building Lease (Nexplore Corp)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease upon (a) the failure of Landlord to pay any sum owing by Landlord under this Lease as and when due where such failure continues for ten (10) days after receipt by Landlord of written notice that such payment was not received by Tenant, unless it shall fail Landlord is disputing in good faith the nature, propriety or amount of such sum, or (b) the failure of Landlord to observe, keep or perform such obligation(s) any of the other terms, covenants, agreements or conditions contained in this Lease on the part of Landlord to be observed or performed and such failure shall continue continues for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, days after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no rightor, for any if such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed failure is not reasonably susceptible to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said timedays, then within such additional a reasonable period of time so long as may be necessary if within said thirty days Landlord has shall have commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if failure within such thirty (30) days day period and shall thereafter diligently pursue such cure to completion. Tenant may not exercise any such holder remedies available to it under this Lease, at law or lessor in equity until Landlord has commenced and is diligently pursuing been afforded the remedies necessary cure periods described in this Paragraph 34. Tenant acknowledges that its obligations under this Lease, including its obligations to cure such breach pay Rent, are independent of Landlord's obligations under this Lease. The failure of Landlord to perform Landlord's obligations under this Lease shall not excuse Tenant from performing any of its obligations under this Lease, including Tenant's obligation to pay Rent, or default (including but not limited allow Tenant to commencement of foreclosure proceedings, if necessary terminate this Lease or to effect such cure)vacate the Premises.

Appears in 1 contract

Sources: Ground Lease (Renaissance Entertainment Corp)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). Where provision is made in this Lease for Landlord’s consent and Tenant shall request such consent and Landlord shall fail or refuse to give such consent, Tenant shall not be entitled to any damages for any withholding by Landlord of its consent, it being intended that Tenant’s sole remedy shall be an action for specific performance or injunction, and that such remedy shall be available only in those cases where Landlord is expressly required not to withhold its consent unreasonably.

Appears in 1 contract

Sources: Lease (Cuisine Solutions Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail Landlord fails to perform such obligation(s) and such failure shall continue for a period obligations required of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such after written notice is delivered by Tenant to Landlord and to the holder of any mortgages or deeds of trust (or if such breach or default cannot be cured within said timecollectively, then within such additional time as may be necessary if within said thirty days “Lender”) covering the Premises whose name and address shall have theretofore been furnished to Tenant in writing, specifying the obligation which Landlord has commenced and failed to perform; provided, however, that if the nature of Landlord’s obligation is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional that more than thirty (30) days are required for performance, then Landlord shall not be in default if Landlord or Lender commences performance within such twenty (20) Business Day period and thereafter diligently prosecutes the same to completion. All obligations of Landlord hereunder shall be construed as covenants, not conditions. In the event of any default, breach or violation of Tenant’s rights under this Lease by Landlord, Tenant may exercise any right or remedy available to Tenant under law or equity except as otherwise expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, if, in Tenant’s reasonable judgment, an emergency shall exist which threatens imminent danger to or loss of life or damage to Tenant’s property, Tenant shall use reasonable efforts to contact Landlord and Manager, and if Landlord or Manager fail to commence the cure of such emergency within a reasonable time under the circumstances, then Tenant may cure such breach emergency. In the event Tenant takes such action, Tenant shall use only those contractors used by Landlord in the Building for work unless such contractors are unavailable due to the “emergency” nature of the work or default if are unwilling or unable to perform, or timely perform, such breach or default cannot be cured within that timework, then such additional time as in which event Tenant may be necessaryutilize the services of any other qualified, if within such thirty (30) days any such holder or lessor has commenced union contractor which normally and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).regularly performs similar work in

Appears in 1 contract

Sources: Lease (Mattersight Corp)

Landlord’s Default. If Landlord shall fail to perform any term or provision under this Lease required to be performed by Landlord, Landlord shall not be deemed to be in breach ofdefault hereunder nor subject to any claims for damages of any kind, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue have continued for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, days after written notice has been given thereof by Tenant to Landlord specifying Tenant; provided, if the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any ’s failure is such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within more than thirty (30) days of such notice are reasonably required in order to cure, Landlord (or if such breach or default canshall not be cured within said time, then within such additional time as may be necessary in default if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary commences to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if failure within such thirty (30) days any such holder or lessor has commenced day period, and is diligently pursuing the remedies necessary thereafter reasonably seeks to cure such breach failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period of time during which Landlord is delayed in, or default prevented from, curing due to fire or other casualty, strikes, lock-outs or other labor troubles, shortages of equipment or materials, governmental requirements, power shortages or outages, acts or omissions by Tenant or other Persons, and other causes beyond Landlord’s reasonable control. If Landlord shall fail to cure within the times permitted for cure herein, Landlord shall be subject to such remedies as may be available to Tenant (including but not limited subject to commencement the other provisions of foreclosure proceedingsthis Lease); provided that, if necessary in recognition that Landlord must receive timely payments of Rent and operate the Property, except as otherwise expressly provided herein Tenant shall have no right of self-help to effect such cure)perform repairs or any other obligation of Landlord, and shall have no right to withhold, set-off, or ▇▇▇▇▇ Rent.

Appears in 1 contract

Sources: Office Lease (SP Plus Corp)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) daysDays, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days Days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within Landlord shall have such additional time as may be necessary to cure such default if within said thirty days (30) Days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default, not to exceed an additional ninety (90) Days in the aggregate), then the holder(s) . Any holder of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 a Fee Mortgage shall have an additional thirty (30) days Days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days Days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). Where provision is made in this Lease for Landlord’s consent and Tenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, Tenant shall not be entitled to any damages and Tenant hereby waives any claim based on such failure, refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be entitled to bring an action for specific performance or injunction and Tenant shall be entitled to recover from Landlord all costs including reasonable attorney’s fees incurred in brining such action.

Appears in 1 contract

Sources: Credit Agreement (Revel Entertainment Group, LLC)

Landlord’s Default. If Landlord violates or fails to perform or otherwise breaches any agreement, term, covenant or condition herein contained, Landlord shall not be deemed to be in breach of, or in default in the performance of, any of hereunder unless its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure default shall continue for a period of thirty (30) daysdays after written notice thereof has been given by Tenant to Landlord specifying the nature of the alleged default, or such additional time as is reasonably required to correct any such breach or its default, after written notice has been given by Tenant provided that Landlord shall, subject to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no rightits arbitration rights set forth below, for any begin such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if correction within such thirty (30) days any period and thereafter prosecute the curing of such holder default to completion with due diligence. Landlord shall have the right to dispute Tenant’s allegation of default using the arbitration procedures set forth in Article 11. Upon the occurrence of an event of default by Landlord, Tenant shall have the following rights: (i) To seek injunctive relief or lessor has commenced and is diligently pursuing the remedies necessary specific performance to cure such breach default and to seek reimbursement for those costs incurred by Tenant in curing any such default of Landlord, including, without limitation, any fines, fees, reasonable attorneys fees and any other charges, payments, costs and expenses so incurred by Tenant and any losses or default damages suffered by Tenant as a result of such default. (including but not limited ii) To terminate this Lease and the term hereby created, whereupon Tenant shall be entitled to commencement of foreclosure proceedings, if necessary recover the Security Deposit and any rent paid in advance to effect such cure)Landlord hereunder.

Appears in 1 contract

Sources: Lease (HeartWare International, Inc.)

Landlord’s Default. Landlord shall not only be deemed to be in breach ofdefault on the terms of this Lease in the event Landlord shall violate, neglect, or fail to observe, keep or perform any covenant or agreement which is not observed, kept, or performed by Landlord within thirty (30) days after the receipt by Landlord of Tenant’s written notice of such breach which notice shall specifically set out the breach. Landlord shall not be considered in default so long as Landlord commences to cure the breach in a diligent and prudent manner and is allowed such additional time as reasonably necessary to correct the breach. Notwithstanding any provisions to the contrary contained in this Lease, no personal liability of any kind or character whatsoever shall attach or at any time hereafter attach under any conditions to Landlord or any subsidiary, affiliate or partner of Landlord or their respective officers, directors, shareholders, or employees for payments of any amounts due under this Lease or for the performance of, of any obligation under this Lease. The exclusive remedies of Tenant for failure of Landlord to perform any of its obligations under this Lease unless shall be to proceed against the interest of Landlord in and to the Leased Premises it being understood that in no event shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease judgment for any breach deficiency or default by monetary claim be sought, obtained or enforced against Landlord hereunder and no rightor any subsidiary, for any such breach affiliate or defaultpartner of Landlord or their respective officers, to offset directors, shareholders or counterclaim against any rent due hereunderemployees. In no event shall Landlord ever be liable to Tenant for any consequential, special, punitive damages or exemplary damages. Except to the extent arising out of Tenant’s obligations under Paragraph 19 or Paragraph 31 hereof, Tenant shall not be liable hereunder for any loss of business other consequential, special, punitive or any other indirect, special or consequential damages suffered by Tenant from whatever causeexemplary damages. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)TENANT HEREBY WAIVES ITS STATUTORY LIEN UNDER SECTION 91.004 OF THE TEXAS PROPERTY CODE.

Appears in 1 contract

Sources: Lease Agreement (Sulphco Inc)

Landlord’s Default. Landlord shall not in no event be deemed to be in breach of, or in default in the performance of, of any of its Landlord’s obligations under this Lease hereunder unless it and until Landlord shall fail have failed to perform such obligation(s) and such failure shall continue for a period of thirty (30) obligations within 30 days, or such additional time as is reasonably required to correct any such breach or default, default after written notice has been given by Tenant to Landlord properly specifying the nature of Landlord's alleged breach or default. Tenant shall have no right wherein Landlord has failed to terminate this Lease for any breach or default by Landlord hereunder and no right, for perform any such breach or defaultobligation, to offset or counterclaim against any rent due hereunder. In no event shall provided that Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to commences such cure any such breach or default within thirty (30) days of such notice, except in the event of an emergency situation, whereby Landlord should proceed to cure immediately upon Tenant’s notice thereof. It is the express understanding and agreement of the parties and a condition of Landlord’s agreement to execute this Lease that in no event shall Tenant have the right to terminate this Lease or seek an abatement to or offset from Base Rent or other Rent as a result of Landlord’s default, but Tenant shall be entitled to seek all other remedies, at law or equity, as a result of such default. Tenant hereby waives its right to recover punitive or consequential damages arising out of any act, omission or default by Landlord. This Lease and the obligations of Tenant hereunder shall not be affected or impaired because Landlord (is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such breach inability or default cannot be cured within said time, then within such additional time delay is caused by reason of a Force Majeure Event (as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or defaultdefined below), then and the holder(s) time for Landlord’s performance shall be extended for the period of any mortgage(s) such delay. As used herein, a “ Force Majeure Event ” shall be any delay caused by or the lessor under any ground lease entitled resulting from acts of God, war, civil commotion, fire, flood or other casualty, labor difficulties, shortages of or inability to notice pursuant to Section 10.6 shall have an additional thirty obtain labor, materials or equipment, governmental regulations, unusually severe weather, or other causes beyond such party’s reasonable control (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement other than lack of foreclosure proceedings, if necessary to effect such curefunds).

Appears in 1 contract

Sources: Office Lease Agreement (Mannkind Corp)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform (including, but not limited to, as a result of gross negligence or willful misconduct) such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder, provided, however, that the foregoing shall not affect Tenant’s rights under Sections 5.2 and 7.2 hereof. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). Where provision is made in this Lease for Landlord’s consent and Tenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, Tenant shall not be entitled to any damages and Tenant hereby waives any claim based on such failure, refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be entitled to bring an action for specific performance or injunction.

Appears in 1 contract

Sources: Lease (Liquid Holdings Group, Inc.)

Landlord’s Default. Except for a violation by Landlord of express provisions of this Lease which require specific notice provisions which are shorter or longer than thirty (30) days, the occurrence of the following shall not be deemed constitute a default by Landlord pursuant to be in breach of, or in default in the performance of, this Lease: Landlord’s failure to perform any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue Lease, which default continues for a period of more than thirty (30) daysdays (unless a shorter time is required to protect from danger to persons or property) after receipt of written notice from Tenant specifying such default and the corrective action required; however, or such additional thirty (30) day period may be extended for such period of time as is may be reasonably required to correct any perform the obligation (not to exceed ninety (90) days after Landlord’s receipt of such breach or default, notice) provided: (i) such obligation cannot be reasonably performed within thirty (30) days after written notice has been given by Tenant to such notice; (ii) Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed commences efforts to cure any such breach or the default within thirty (30) days after receipt of such Tenant’s notice to of default; and (iii) Landlord diligently pursues completion of the obligation; and (or if such breach or default cannot be cured within said time, then within iv) such additional time as does not expose Tenant to civil or criminal liability to any third parties. In the event of Landlord’s default, in addition to availing itself of any other remedies available at law and in equity, Tenant may, at its option, upon written notice to Landlord, terminate this Lease, or may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies incur any expense necessary to cure perform the obligation of Landlord specified in such breach notice and deduct such expense from the Rent, Additional Rent, or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)other charges coming due.

Appears in 1 contract

Sources: Lease Agreement (First Chester County Corp)

Landlord’s Default. In the event of Landlord's failure to perform any of its covenants or agreements under this Lease, Tenant shall give Landlord written notice of such failure and shall give Landlord thirty (30) days to cure or to commence to cure such failure prior to any claim for breach or for damages resulting from such failure, provided, however, that if the nature of such default is such that the same cannot reasonably be cured within such thirty (30) day period Landlord shall not be deemed to be in breach ofdefault if Landlord shall within such period commence such cure and thereafter diligently prosecute the same to completion. In addition, upon any such failure by Landlord, Tenant shall give notice by registered or in default certified mail to any person or entity with a security interest in the performance of, any Premises that has provided Tenant with notice of its obligations under interest in the Premises ("Mortgagee"), and shall provide such Mortgagee a reasonable opportunity to cure such failure. ▇▇▇▇▇▇ agrees that each of the Mortgagees to whom this Lease has been assigned is an expressed third party beneficiary hereof. Tenant shall not make any prepayment of rent more than one (1) month in advance without the prior written consent of such Mortgagee, except as set forth in Article 24. Tenant waives any right under California Civil Code Section 1950.7 or any other present or future law to the collection of any payment or deposit from such Mortgagee or any purchaser at a foreclosure sale of such Mortgagee's interest unless it such Mortgagee or such purchaser shall fail have actually received and not refunded the applicable payment or deposit. If Landlord fails to perform such obligation(s) and such failure Landlord's maintenance obligations. Tenant shall continue for a period of after thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after days prior written notice has been given by Tenant to Landlord specifying (except in the nature case of emergency, in which case no notice shall be required), have the right (but not the obligation) to perform such obligation on Landlord's alleged breach or default. Tenant behalf and the cost thereof shall have no right to terminate this Lease for any breach or default by Landlord hereunder be due and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable payable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such after notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)thereof.

Appears in 1 contract

Sources: Declaration of Reciprocal Easement, Easements and Covenants (Terayon Communication Systems)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, of any of its obligations under this Lease hereunder unless it shall fail to perform such obligation(s) obligations and such failure shall continue for a period of thirty (30) days, 30 days following receipt of notice from Tenant or such additional time as is reasonably required to correct any such breach or default, default after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach default. Landlord shall not be liable in any event for incidental or defaultconsequential damages to Tenant by reason of any default by Landlord hereunder, whether or not Landlord is notified that such damages may occur. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunderhereunder except as specifically provided in this section. In no event shall If, after notice of default duly given in accordance with this section, Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have has failed to cure any such breach or the alleged default within thirty (30) 30 days of or such longer notice as is reasonably necessary to Landlord (or if such breach or default cancure the same, Tenant may, but shall not be cured within said time, then within required perform such additional time action as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies reasonably necessary to cure such breach or default). Landlord agrees to pay on demand Tenant's expenses, then the holder(s) of including reasonable attorneys' fees, incurred in curing any mortgage(s) or the lessor under any ground lease entitled to notice default by Landlord pursuant to Section 10.6 shall 5.1.9 In the event Landlord fails to pay the same and Tenant obtains a final judgment for the same in from a court of competent jurisdiction from which all appeal periods have an additional thirty (30) days within which to cure expired without appeal having been taken, the amount due under such breach or default if such breach or default cannot be cured within that time, then such additional time as judgment may be necessary, if within offset the amount due under such thirty (30judgment from the next succeeding payment(s) days any of Fixed Rent and Additional Rent due hereunder until the full amount of such holder judgment has been so applied or lessor has commenced and is diligently pursuing the remedies necessary otherwise reimbursed to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)Tenant.

Appears in 1 contract

Sources: Net Lease (Millipore Corp /Ma)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant, and Tenant hereby waives any claim against Landlord, for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).

Appears in 1 contract

Sources: Lease (Prometheus Biosciences, Inc.)

Landlord’s Default. Prior to pursuing any remedy available to Tenant under the Lease, at law or equity as a result of any failure of Landlord shall not be deemed to perform or observe any covenant, condition, provision or obligation to be in breach of, performed or in default in observed by Landlord under the performance of, Lease (any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for hereinafter referred to as a period “Landlord’s Default”), Tenant shall: (a) provide Lender and Owner with a notice of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord Landlord’s Default specifying the nature thereof, the Section of Landlord's alleged breach the Lease under which same arose and the remedy which Tenant will elect under the terms of the Lease or default. Tenant shall have no right to terminate this otherwise, and (b) allow each of Lender and Owner the applicable cure period as provided in the Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said timethe same, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies plus, except when necessary to cure such breach prevent an immediate threat to life or default)safety, then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default days; provided, however, that if such breach Landlord’s Default is not readily curable within such time period, Tenant shall give Lender or default cannot be cured within that timeOwner, then as applicable, such additional time as Lender or Owner may be necessaryreasonably need to obtain possession and control of the Property and to cure such Landlord’s Default so long as Lender or Owner, if within such thirty (30) days any such holder or lessor has commenced and as applicable, is diligently pursuing the remedies necessary a cure. Tenant shall not pursue any remedy available to it as a result of any Landlord’s Default unless Lender or Owner, as applicable, fails to cure such breach or default (including but same within the time periods specified above. For purposes of this Paragraph, a Landlord’s Default shall not limited be deemed to commencement of foreclosure proceedings, if necessary to effect such cure)have occurred until all grace and/or cure periods applicable thereto under the Lease have lapsed without Landlord having effectuated a cure thereof.

Appears in 1 contract

Sources: Lease (Polycom Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default; provided, however, that the notice and cure period set forth in this sentence shall not apply to any failure to deliver the Premises to Tenant by February 28, 2024 (i.e., one hundred eighty (180) days after the Delivery Date) for reasons other than Force Majeure or Tenant Delay. Except as provided in Section 3.1, Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In Except as provided in Section 3.1 with regards to damages incurred by Tenant under the Existing Lease, in no event shall Landlord ever be liable to Tenant, and Tenant hereby waives any claim against Landlord, for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).

Appears in 1 contract

Sources: Lease Agreement (Ultragenyx Pharmaceutical Inc.)

Landlord’s Default. In the event of any act or omission of ------------------ Landlord constituting a default by Landlord, other than Landlord's failure to have the Improvements substantially completed on a timely basis as provided in Article II and to make the same fully available to Tenant as therein provided, Tenant shall not be deemed exercise any remedy until Tenant has given Landlord and any mortgagee whose name and address have been previously provided to be in breach of, Tenant prior written notice of such act or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) omission and such failure shall continue for until a 30-day period of thirty (30) days, time to allow Landlord or the mortgagee to remedy such additional time as is reasonably required to correct any such breach act or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant omission shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days elapsed following the giving of such notice to Landlord (or notice; provided, however, if such breach act or default omission cannot with due diligence and in good faith be cured within said time, then remedied within such additional 30- day period, Landlord and/or mortgagee shall be allowed such further period of time as may be reasonably necessary if provided that it shall have commenced remedying the same with due diligence and in good faith within said thirty days 30-day period. In the event any act or omission of Landlord has commenced and is diligently pursuing the remedies necessary which constitutes a Landlord's default hereunder results in an immediate threat of bodily harm to Tenant's employees, agents or invitees or damage to Tenant's property, or exposes Tenant to criminal liability, Tenant may proceed to cure such breach the default without prior notice to Landlord or default)its mortgagee; provided, then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled however, in that event Tenant shall give written notice to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time Landlord and its mortgagee as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to soon as possible after commencement of foreclosure proceedings, if necessary to effect such cure). Nothing herein contained shall be construed or interpreted as requiring any mortgagee to remedy such act or omission.

Appears in 1 contract

Sources: Lease (Applied Micro Circuits Corp)

Landlord’s Default. A "Default by Landlord" shall exist hereunder if Landlord shall not be deemed breaches or fails to be comply with any agreement, term, covenant or condition in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail applicable to perform such obligation(s) Landlord and such breach or failure shall continue to comply continues for a period of thirty (30) daysdays after the receipt by Landlord and by the holder of any mortgage or deed of trust covering the Premises, the Real Property or any portion thereof of whose address Tenant has been notified in writing (a "Landlord's Mortgagee"), if any, of a written notice thereof referring to this Paragraph 34 and specifying such additional time as is reasonably required failure and requiring it to correct any be remedied, or, if such breach or defaultfailure to comply cannot reasonably be cured within such thirty (30) day period, after written notice has been given by Tenant to if neither Landlord specifying the nature of nor Landlord's alleged Mortgagee, if any, shall in good faith commence to cure such breach or defaultfailure to comply within such thirty (30) day period or shall not diligently proceed therewith to completion. In the event of a Default by Landlord, Tenant may, except as otherwise expressly provided in this Lease, bring a separate action against Landlord for any claim Tenant may have against Landlord under this Lease. In no event will Landlord be responsible for any consequential or punitive damages incurred by Tenant, including, but not limited to, loss of profits or interruption of business as a result of any Default by Landlord hereunder. Further, Tenant shall have no right to terminate this Lease for any breach withhold such amounts or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered amounts due under this Lease until after final adjudication by Tenant from whatever cause. Tenant further agrees that if a court of competent jurisdiction and unless the Landlord shall have has failed to cure any post a bond in an amount equal to or greater than the amount due under such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)final adjudication.

Appears in 1 contract

Sources: Lease Agreement (Rocky Mountain Internet Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach ofdefault of this Lease if Landlord fails to make any payments to Tenant required under this Lease and such failure continues for thirty (30) days after written notice from Tenant to Landlord, or if Landlord shall be in default in the prompt and full performance of, of any other of its obligations under promises, covenants or agreements contained in this Lease unless it shall fail to perform such obligation(s) and such failure shall continue default in performance continues for a period of more than thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, days after written notice has been given by thereof from Tenant to Landlord specifying the nature particulars of Landlord's alleged such default or breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no rightof performance; provide, for any such breach or defaulthowever, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or the default within thirty (30) days complained of, other than for the payment of monies, is of such notice to Landlord (or if such breach or default a nature that the same cannot be rectified or cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days day period, then such default shall be deemed to be rectified or cured if Landlord, within such thirty (30) day period, shall have commenced such cure and shall continue thereafter with due diligence to cause such cure to be completed. Upon any such holder or lessor has commenced default of this Lease by Landlord, Tenant shall be entitled to: (a) withhold payment of Rent due and is diligently pursuing to accrue hereunder (to the remedies extent necessary to cover the costs estimated by Tenant to cure such breach default) so long as Landlord remains in default; (b) cure such default and deduct expenses (including, without limitation, reasonable attorneys’ fees and court costs) incurred by Tenant therefor from the Rent due and to become due hereunder; (c) terminate this Lease and receive a refund of any prepaid Rent and additional rent; or default (including but not limited d) pursue any and all other remedies available to commencement of foreclosure proceedings, if necessary to effect such cure)Tenant at law or in equity.

Appears in 1 contract

Sources: Lease Agreement (L&F Acquisition Corp.)

Landlord’s Default. If Landlord shall not be deemed to be in breach of, or in default defaults in the performance of, of any of its obligations under this Lease unless it shall fail to perform such obligation(s) material duty or obligation hereunder and such failure shall continue default continues unremedied for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after days following written notice has been given by from Tenant to Landlord specifying and to any mortgagee or ground lessor of Landlord to whom Landlord has requested in writing that notices of default be sent, then Tenant shall have the right to cause the Landlord’s default to be cured and to recover from Landlord the reasonable costs and expenses incurred by Tenant in curing Landlord’s default through a legal action against Landlord. Tenant shall not be entitled to offset any such costs against Rent due hereunder, unless and until Tenant obtains a final judgment against Landlord to the effect that Landlord has defaulted in the performance of a material duty or obligation hereunder. Tenant agrees to accept performance of any of Landlord’s obligations hereunder by any mortgagee or ground lessor of the Project. Notwithstanding the foregoing, if the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or ’s default by Landlord hereunder and no right, for any is such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever that it can not reasonably be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default cured within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default)after notice, then the holder(s) of any mortgage(s) or time permitted for Landlord to cure the lessor under any ground lease entitled default shall be extended as necessary to permit the cure to be accomplished, if Landlord promptly commences the cure after receiving notice pursuant from Tenant and thereafter diligently pursues the cure to Section 10.6 shall have completion, but not to exceed an additional thirty forty-five (3045) days within which to cure such breach or default if such breach or default cannot be cured within that timedays, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)without Tenant’s reasonable prior written consent.

Appears in 1 contract

Sources: Lease Agreement (Graham Corp)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any An “Event of its obligations Default by Landlord” under this Lease unless it shall fail occur if Landlord has breached or failed to perform such obligation(s) any covenant, agreement or undertaking of Landlord under this Lease and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required has not commenced to correct any cure such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default failure within thirty (30) days of such receipt of written notice thereof from Tenant, and diligently and in good faith continued to Landlord (or if such cure the breach or default failure until completion. If the breach or failure cannot reasonably be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary day period, Landlord shall not be in default if Landlord commences to cure the breach or failure within the thirty (30) day period and diligently and in good faith continues to prosecute the cure of said breach or failure to completion, provided such breach or failure is cured within one hundred and eighty (180) days after Landlord’s receipt of written notice thereof, subject to extension for reasons due to Force Majeure. Upon the occurrence of any Event of Default by Landlord, ▇▇▇▇▇▇’s sole and exclusive remedy shall be a suit for monetary damages against Landlord. In no event shall Tenant have the right to terminate this Lease or offset or ▇▇▇▇▇ any sums due to Landlord hereunder as a result of a default (including but not limited by ▇▇▇▇▇▇▇▇. No waiver by Tenant of any violation or breach of any of the terms, provisions and covenants herein contained by Landlord shall be deemed or construed to commencement constitute a waiver of foreclosure proceedingsany other violation or breach of any of the terms, if necessary to effect such cure)provisions and covenants contained herein.

Appears in 1 contract

Sources: Lease Agreement (SouthState Corp)

Landlord’s Default. Tenant agrees to provide written notice to Landlord shall not be deemed to be in breach of, or in default in the performance of, event Landlord breaches any of its obligations under this Lease unless it hereunder. In the event Landlord shall fail to perform cure any such obligation(sbreach within thirty (30) and days after receipt of written notice from Tenant (or if such failure shall continue for a period breach is not reasonably capable of being cured within thirty (30) days, or such additional time period as is may reasonably required be necessary to correct any such breach or defaultcure the same with due diligence), after written notice has been given by Tenant to then Landlord specifying the nature of Landlord's alleged breach or default. shall be in default hereunder and Tenant shall have no right be entitled to terminate this Lease bring an action for damages or specific performance or other injunctive relief against Landlord. Additionally, (i) in the event any breach or default by Landlord hereunder is not cured within the foregoing cure period, or (ii) in the event any emergency repairs to the Premises are needed and no rightTenant is unable, for any such breach or defaultdespite diligent efforts, to offset or counterclaim against any rent due hereunder. In no event contact Landlord by telephone, then, in either of such events, Tenant shall be entitled to take such action as may be commercially reasonably under the circumstance to correct such uncured default and/or make such repairs as are needed to correct the emergency situation, and Landlord ever be liable to shall reimburse Tenant for any punitive damages or all costs reasonably incurred in the exercise of such rights, together with interest thereon at the rate set forth in Section 29.B above from the date paid until the date reimbursed, within thirty (30) days after written demand. If Landlord fails to reimburse Tenant for any loss of business or any other indirect, special or consequential damages suffered all amounts expended by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default under this paragraph within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said timedemand, then within such additional time as Tenant may commence an action against Landlord to recover same, but in no event shall Tenant be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure offset such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing amounts against the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)Rent due from Tenant hereunder.

Appears in 1 contract

Sources: Lease Agreement (Wildblue Communications Inc)

Landlord’s Default. If Landlord shall not be deemed fail to be in breach ofobserve, perform or in default in the performance of, comply with any of its duties and obligations under as set forth in this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days after notice thereof from Tenant to Landlord, or if such failure is of such a nature that it cannot be completely remedied within said period of thirty (30) days, or if Landlord shall not (x) promptly upon the giving by Tenant of such additional notice, advise Tenant of Landlord’s intention to institute reasonable steps necessary to remedy such failure, (y) promptly institute and thereafter diligently prosecute to completion reasonable steps necessary to remedy same, and (z) complete such remedy within a reasonable time as is reasonably required to correct after the date of the giving of said notice by Tenant, Tenant may at any time thereafter cure such breach or defaultfailure, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any but only if such breach or defaultfailure is creating a material impairment to the operation of Tenant’s business at the Premises, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to for the account of Landlord, provided that Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to may cure any such breach or default failure as aforesaid prior to the expiration of said waiting period, without notice to Landlord if an emergency situation exists, or after notice to Landlord, but solely if the curing of such breach or failure prior to the expiration of said waiting period is necessary to protect the Premises or Tenant’s interest therein or to prevent injury to persons or material damage to property. Landlord shall reimburse Tenant for the amounts reasonably and properly incurred by Tenant as aforesaid within thirty (30) days of such notice Tenant’s written demand therefor. In no event whatsoever, however, shall Tenant have a right to terminate this Lease by reason of Landlord’s default, nor shall Landlord (be liable to Tenant for any consequential, incidental or if such breach punitive damages in connection with or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) a result of any mortgage(s) or default by Landlord hereunder. For the lessor under any ground lease entitled purposes of this Section, lost sales and/or profit shall be deemed to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)consequential damages.

Appears in 1 contract

Sources: Lease Agreement (Pdi Inc)

Landlord’s Default. If Landlord shall fail to perform any term or provision under this Lease required to be performed by Landlord, Landlord shall not be deemed to be in breach ofdefault hereunder nor subject to any claims for damages of any kind, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue have continued for a period of thirty (30) daysdays after Notice thereof by ▇▇▇▇▇▇ (or, or if such additional time as is reasonably required failure relates to correct any such breach or defaulta monetary obligation of Landlord, then five (5) Business Days after written notice has been given Notice thereof by Tenant to Landlord specifying Tenant); provided, if the nature of Landlord's alleged breach ’s failure is such that more than thirty (30) days are reasonably required in order to cure, Landlord shall not be in default if Landlord commences to cure such failure within such thirty (30) day period, and thereafter reasonably seeks to cure such failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period of time during which Landlord is delayed in, or defaultprevented from, curing due to Force Majeure Delays. If Landlord shall fail to cure within the times permitted for cure herein, Landlord shall be subject to such remedies as may be available to Tenant (subject to the other provisions of this Lease); provided Tenant shall have no right to terminate this Lease for any breach or default by and, in recognition that Landlord hereunder must receive timely payments of Rent and operate the Project, Tenant shall have no right, for any such breach or default, right of self-help to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business perform repairs or any other indirectobligation of Landlord, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord and shall have failed no right to cure any such breach withhold, set-off, or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)▇▇▇▇▇ Rent.

Appears in 1 contract

Sources: Office Lease (Sezzle Inc.)

Landlord’s Default. Landlord 1. If Landlord, during the Term, shall not be deemed to be in breach of, or in default in the performance ofor observance of any agreement, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) daysobligation, or such additional time as is reasonably required to correct any such breach or defaultcondition in this Lease, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to not cure any such breach or default within thirty (30) days after receipt of written notice thereof (the "Default Notice") from Tenant, or shall not within said period commence to cure and thereafter diligently prosecute the curing of such default to completion, then Tenant may, at its option, after it has given Landlord at least five (5) days prior written notice of its intent to cure (the "Self-Help Notice"), cure such default in the name of and for the account of Landlord. The Self-Help Notice maybe sent any time after the expiration of 25 days following the Default Notice. 2. Tenant may cure any such default prior to the expiration of said waiting period, but after said notice to Landlord (or if in the event of an emergency. 3. Landlord shall immediately reimburse Tenant on demand for such breach or default cannot be cured within payments and save the Tenant harmless. If Landlord shall fail to reimburse Tenant upon demand for any amount paid for the account of Landlord hereunder, said time, then within such additional time as amount may be necessary if within said thirty days Landlord deducted by Tenant from the next or any succeeding payments of Base Rent due hereunder until Tenant has commenced and is diligently pursuing been fully reimbursed. In the remedies necessary to cure such breach or default)event that Tenant wrongly invokes its right herein contained, then Landlord's relief shall be the holder(spayment by Tenant of all installment of Base Rent withheld by it plus a penalty fee of five percent (5%) of the amount of Base Rent withheld. 4. Tenant may abandon any mortgage(s) cure of a default by Landlord at any time without penalty. 5. This Article does not supersede or conflict with the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within duties, rights and remedies of the parties which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement are specifically addressed in other Articles of foreclosure proceedings, if necessary to effect such cure)this Lease.

Appears in 1 contract

Sources: Lease Agreement (Seachange International Inc)

Landlord’s Default. In the event of any act or omission of Landlord ------------------ constituting a default by Landlord, other than Landlord's failure to have the Improvements substantially completed on a timely basis as provided in Article II and to make the same fully available to Tenant as therein provided, Tenant shall not be deemed exercise any remedy until Tenant has given Landlord and any mortgagee whose name and address have been previously provided to be in breach of, Tenant prior written notice of such act or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) omission and such failure shall continue for until a 30-day period of thirty (30) days, time to allow Landlord or the mortgagee to remedy such additional time as is reasonably required to correct any such breach act or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant omission shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days elapsed following the giving of such notice to Landlord (or notice; provided, however, if such breach act or default omission cannot with due diligence and in good faith be cured within said time, then remedied within such additional 30-day period, Landlord and/or mortgagee shall be allowed such further period of time as may be reasonably necessary if provided that it shall have commenced remedying the same with due diligence and in good faith within said thirty days 30-day period. In the event any act or omission of Landlord has commenced and is diligently pursuing the remedies necessary which constitutes a Landlord's default hereunder results in an immediate threat of bodily harm to Tenant's employees, agents or invitees or damage to Tenant's property, or exposes Tenant to criminal liability, Tenant may proceed to cure such breach the default without prior notice to Landlord or default)its mortgagee; provided, then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled however, in that event Tenant shall give written notice to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time Landlord and its mortgagee as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to soon as possible after commencement of foreclosure proceedings, if necessary to effect such cure). Nothing herein contained shall be construed or interpreted as requiring any mortgagee to remedy such act or omission.

Appears in 1 contract

Sources: Lease (Applied Micro Circuits Corp)

Landlord’s Default. Landlord shall not in no event be deemed to be in breach of, or in default in the performance of, of any of its Landlord’s obligations under this Lease hereunder unless it and until Landlord shall fail have failed to perform such obligation(s) and such failure shall continue for a period of thirty (30) obligations within 30 days, or such additional time as is reasonably required to correct any such breach or default, default after written notice has been given by Tenant to Landlord properly specifying the nature of Landlord's alleged breach or default. Tenant shall have no right wherein Landlord has failed to terminate this Lease for any breach or default by Landlord hereunder and no right, for perform any such breach or defaultobligation, to offset or counterclaim against any rent due hereunder. In no event shall provided that Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to commences such cure any such breach or default within thirty (30) days of such notice, except in the event of an emergency situation, whereby Landlord should proceed to cure immediately upon Tenant’s notice thereof. It is the express understanding and agreement of the parties and a condition of Landlord’s agreement to execute this Lease that in no event shall Tenant have the right to terminate this Lease or seek an abatement to or offset from Base Rent or other Rent as a result of Landlord’s default, but Tenant shall be entitled to seek all other remedies, at law or equity, as a result of such default. Tenant hereby waives its right to recover punitive or consequential damages arising out of any act, omission or default by Landlord. This Lease and the obligations of Tenant hereunder shall not be affected or impaired because Landlord (is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such breach inability or default cannot be cured within said time, then within such additional time delay is caused by reason of a Force Majeure Event (as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or defaultdefined below), then and the holder(s) time for Landlord’s performance shall be extended for the period of any mortgage(s) such delay. As used herein, a “Force Majeure Event” shall be any delay caused by or the lessor under any ground lease entitled resulting from acts of God, war, civil commotion, fire, flood or other casualty, labor difficulties, shortages of or inability to notice pursuant to Section 10.6 shall have an additional thirty obtain labor, materials or equipment, governmental regulations, unusually severe weather, or other causes beyond such party’s reasonable control (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement other than lack of foreclosure proceedings, if necessary to effect such curefunds).

Appears in 1 contract

Sources: Office Lease Agreement (Valeritas Holdings Inc.)

Landlord’s Default. If Landlord shall not be deemed fails to perform any covenant or agreement to be in breach ofperformed by Landlord under ARTICLE 6, SECTION 14.1, SECTION 16.4, ARTICLE 20, ARTICLE 21, or in default in the performance of, any SECTION 22.8 of its obligations under this Lease unless it shall fail (including, but not limited to, Landlord's failure to perform such obligation(s) keep the Premises free of any and such all liens created by or through Landlord except as approved by Tenant in writing), and if the failure shall continue or default continues for a period of thirty (30) daysdays after Notice to Landlord (except for emergencies and except for payment of any lien or encumbrance threatening the imminent sale of the Premises or any portion thereof, in which case payment or cure may be made as soon as necessary to minimize the damage to person or property caused by such emergency or to prevent any such sale), Tenant may, but shall have no obligation to, pay the same and cure such default on behalf of and, so long as such failure to perform arises due to Landlord's gross negligence, willful misconduct, or such additional time as is willful breach of this Lease, at the expense of Landlord and do all reasonably required to correct any such breach or defaultnecessary work and make all reasonably necessary payments in connection therewith including, after written notice has been given but not limited to, the payment of reasonable attorneys' fees and disbursements incurred by Tenant to Landlord specifying Tenant. Notwithstanding the nature of Landlord's alleged breach or default. foregoing, Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice failure to perform by Landlord (or if such breach or default cannot be cured within said time, then within such additional time so long as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary and in good faith attempting to cure such breach or default)matter. Notwithstanding anything to the contrary, then the holder(s) of any mortgage(s) or the lessor Landlord's liability under any ground lease entitled to notice pursuant to Section 10.6 this Lease shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot in all events be cured within that time, then such additional time limited as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)provided in SECTION 22.14 below.

Appears in 1 contract

Sources: Sublease Agreement (Adobe Systems Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). GSDOCS\2096218.11 Where provision is made in this Lease for Landlord’s consent and Tenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, Tenant shall not be entitled to any damages and Tenant hereby waives any claim based on such failure, refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be entitled to bring an action for specific performance or injunction.

Appears in 1 contract

Sources: Lease (Performance Technologies Inc \De\)

Landlord’s Default. Landlord will be in "Default" if Landlord fails to observe or perform any material term or covenant in this Lease and does not cure the failure within 30 days after receipt of notice of the failure from Tenant (unless the failure cannot reasonably be cured within such period, in which case Landlord will be in Default if it fails to commence its cure within such period and/or fails to diligently pursue its cure to completion). If Landlord is in Default and while that Default is continuing, Tenant may cure the Default at Landlord's expense, in which case Landlord shall not be deemed to be promptly reimburse Tenant for all reasonable and necessary costs and expenses incurred by Tenant in breach ofeffecting its cure. Upon written request of Landlord, or Tenant shall provide Landlord with reasonable documentation of the costs and expenses incurred by Tenant in default effecting its cure. Tenant may also recover all reasonable and necessary costs and expenses it incurs in connection with Landlord's Default and the performance of, any enforcement of its obligations remedies under this Lease unless it Lease, including without limitation reasonable legal fees. Tenant shall fail use reasonable good faith efforts to perform such obligation(s) and such failure shall continue for mitigate its damages as a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature result of Landlord's alleged breach or default. Default If Landlord fails to reimburse Tenant shall have no right to terminate this Lease promptly for any breach amounts due~Tenant under or default by Landlord hereunder and no rightpursuant to this Lease, for any such breach or default, Tenant may at its option in addition to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirectright or remedy Tenant may have, special or consequential damages suffered by Tenant deduct such amounts from whatever cause. Tenant further agrees that if Landlord shall have failed subsequent installments of rent and/or other amounts which from time to cure any such breach or default within thirty (30) days of such notice time become due to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)Landlord.

Appears in 1 contract

Sources: Real Estate Lease (Sel-Leb Marketing Inc)

Landlord’s Default. Landlord shall not be deemed Tenant agrees to be in breach of, or in default in the performance of, deliver to any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach mortgagees and to the holder of any trust deed concerning the Premises, a copy of any notice of default served upon Landlord, provided that prior thereto Tenant has been notified, in writing, (by way of Notice of Assignment of Rents and Leases, or defaultotherwise) of the address of such mortgagees and/or trust deed holders. Anything contained herein to the contrary notwithstanding, Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed fail to cure any the default recited in such breach or default Notice of Default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said timethe time provided for herein, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 mortgagees and/or trust deed holders shall have an additional thirty (30) days within which to cure such breach or default default, provided, however, that if such breach or default cannot be cured within that timesaid thirty (30) days, then such mortgagees and/or trust deed holders shall have such additional time as may be necessarynecessary to cure such default, if within such said thirty (30) days any days, such mortgagee and/or trust deed holder or lessor has have commenced and is are diligently pursuing the remedies necessary to cure of such breach or default default, (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). This Lease shall not be terminated by Tenant while such remedies and cures are being so pursued.

Appears in 1 contract

Sources: Lease (Asset Acceptance Capital Corp)

Landlord’s Default. If Landlord shall not be deemed to be in breach of, or in default defaults in the performance of, of any of its obligations under this Lease unless it shall fail Lease, Tenant will notify Landlord of the default and Landlord will have 30 days after receiving such notice to perform such obligation(s) and such failure shall continue for cure the default. If Landlord is not reasonably able to cure the default within a 30 day period, Landlord will have an additional reasonable period of thirty (30) days, or such additional time to cure the default as is reasonably required long as Landlord promptly commences the cure and thereafter diligently and in good faith pursues the cure to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereundercompletion. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirectperson for consequential, special or consequential punitive damages suffered (including without limitation lost profits). If Landlord has not commenced repair or maintenance required to be performed by Landlord hereunder within 45 days after written notice thereof from Tenant, then Tenant from whatever cause. Tenant further agrees that if shall have the right, but not the obligation, to make such repairs and Landlord shall have failed to cure any such breach or default reimburse Tenant for the reasonable and actual cost thereof within thirty 30 days after receipt of an invoice from Tenant. In the event of an emergency, Tenant may (30) days of such notice to Landlord (or if such breach or default canbut shall not be cured within said timeobligated to) perform such repairs which would otherwise be Landlord’s obligation hereunder which may be reasonably necessary, then within after having given Landlord such additional time notice, if any, as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing practicable under the remedies necessary circumstances. Notwithstanding anything to cure such breach or default)the contrary set forth hereinabove, then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 Tenant shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may required to perform any repairs which would otherwise be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)Landlord’s obligation hereunder.

Appears in 1 contract

Sources: Lease Agreement (Datalink Corp)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's ’s alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant, and Tenant hereby waives any claim against Landlord, for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). Where provision is made in this Lease for Landlord’s consent and Tenant shall request such consent and Landlord shall fail or refuse to give or shall delay in giving such consent, Tenant shall not be entitled to any damages and Tenant hereby waives any claim based on such failure, refusal or delay; provided however in any situation where Landlord is expressly required not to withhold its consent unreasonably Tenant shall (at its sole remedy) be entitled to bring an action for specific performance or injunction.

Appears in 1 contract

Sources: Lease Agreement (Amylyx Pharmaceuticals, Inc.)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for have a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after days from the date of written notice has been given by from Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for cure any breach or default by Landlord hereunder and no rightunder this Lease; provided, for however, that with respect to any such breach or defaultdefault that cannot reasonably be cured within thirty (30) days, the default shall not be deemed to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that uncured if Landlord shall have failed commences to cure any such breach or default within thirty (30) days from Tenant's notice and continues to prosecute diligently the curing thereof. Tenant agrees to give any Mortgagee, by registered or certified mail, a copy of any Notice of Default served upon the Landlord, provided that prior to such notice Tenant has been notified in writing of the address of such Mortgagee. If Landlord fails to cure such default within the time provided for in this Lease, then the Mortgagee shall have an additional thirty (30) days (provided that Tenant notifies Mortgagee concurrently with Tenant's notice to Landlord at the beginning of Landlord's thirty (or if 30) day period; otherwise Mortgagee shall have thirty (30) days from the later of the date on which it is noticed and the expiration of Landlord's cure period) within which to cure such breach or default. If such default cannot be cured by Mortgagee within said timethe cure period, then within such additional time Tenant may not exercise any of its remedies so long as may be necessary if within said thirty days Landlord Mortgagee has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including including, but not limited to to, commencement of foreclosure proceedings, if necessary to effect such cure).

Appears in 1 contract

Sources: Lease Agreement (Caliper Technologies Corp)

Landlord’s Default. (a) In the event Landlord shall not be deemed to be in breach of, or in should default in the performance of, any of its obligations under this Lease unless it hereunder, Tenant shall fail simultaneously give Landlord and Landlord’s Mortgagee (if Landlord has given Tenant written advance notice of such mortgagee’s interest and address) written notice specifying such default and Landlord shall thereupon have thirty (30) days (plus an additional reasonable period as may be required in the exercise by Landlord of due diligence) in which to perform cure any such obligation(sdefault. In addition, Landlord’s Mortgagee shall have the right (but not the obligation) and to cure or remedy such failure shall continue for a default during the period that is permitted to Landlord hereunder, plus an additional period of thirty (30) days, and Tenant will accept such curative or such additional time remedial action taken by Landlord’s Mortgagee with the same effect as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach action had been taken by Landlord, (b) Upon the failure of Landlord or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary Landlord’s Mortgagee to cure such breach default in accordance with the provisions of Paragraph 20(a) hereof, Tenant shall be authorized and empowered to perform the obligations which Landlord failed to perform, and the reasonable costs incurred by Tenant in so doing, together with any interest or default)penalty required to be paid in connection therewith, then shall be payable on demand by Landlord to Tenant. Tenant’s exclusive remedy shall be self-help as set forth herein and an action for damages against Landlord, and Tenant hereby waives the holder(s) benefit of any mortgage(s) or laws granting Tenant a lien upon the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement property of foreclosure proceedings, if necessary to effect such cure)Landlord and/or upon Rent due Landlord.

Appears in 1 contract

Sources: Lease Agreement (Ufp Technologies Inc)

Landlord’s Default. In the event of any act or omission of Landlord constituting a default by Landlord, Tenant shall not be deemed to be exercise any remedy until Tenant has given Landlord and the holder of any Mortgage (as provided for in breach of, Section 16.1) prior written notice of such act or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) omission and such failure shall continue for until a thirty (30)-day period of time to allow Landlord or the mortgagee to remedy such act or omission shall have elapsed following the giving of such notice; provided, however, if such act or omission cannot, with due diligence and in good faith, be remedied within such thirty (30) days30)-day period, or the Landlord and/or mortgagee shall be allowed such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature further period of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be reasonably necessary if provided that it shall have commenced remedying the same with due diligence and in good faith within said thirty days Landlord has commenced and is diligently pursuing (30)-day period. In the remedies necessary event Landlord’s act or omission which constitutes a Landlord’s default hereunder results in an immediate threat of bodily harm to Tenant’s employees, agents or invitees, or damage to Tenant’s property Tenant may proceed to cure such breach or default)the default without prior notice to Landlord provided, then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled however, in that event Tenant shall give written notice to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time Landlord as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to soon as possible after commencement of foreclosure proceedings, if necessary to effect such cure). Landlord will reimburse Tenant for any reasonable out-of-pocket expenses incurred by Tenant in effecting such cure, provided that Tenant has given Landlord at least fifteen (15) additional days’ notice of its intention to expend such sums. Nothing herein contained shall be construed or interpreted as requiring any mortgagee to remedy such act or omission.

Appears in 1 contract

Sources: Net Lease (Wells Mid-Horizon Value-Added Fund I LLC)

Landlord’s Default. Should Landlord shall not be deemed breach any of its duties or obligations to be Tenant and, in the case of a monetary default, the breach ofcontinues for five (5) business days after written notice is given to Landlord, or in default in the performance of, any case of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or non-monetary default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease continues for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional longer period of time as it may be necessary if within said thirty days reasonably take to cure provided Landlord has commenced promptly and diligently pursues the cure and is diligently pursuing not otherwise in default) after written notice of the remedies breach is given to Landlord, Tenant may take such action as is reasonably necessary to cure such breach the breach. In this event, Landlord shall, upon demand (accompanied by reasonable documentation supporting the demand) reimburse the Tenant for expenses reasonably incurred by Tenant in curing Landlord’s breach, including legal expenses and reasonable attorney fees. If Landlord shall fail to promptly reimburse Tenant, Tenant may withhold or default), then a▇▇▇▇ its rental payment due to the holder(s) extent of the unreimbursed expenses. In the event of any mortgage(s) dispute about Tenant’s right to a▇▇▇▇ or withhold rent or other sums payable to Landlord under this Section, Tenant must deposit the lessor under any ground lease disputed amounts in escrow in an interest-bearing account with a national bank in Raleigh, North Carolina, conditioned on resolution of the dispute by a final, nonappealable court order or by mutual written agreement of Landlord and Tenant. Any interest earned shall be paid to the party entitled to notice pursuant the escrowed funds and any fees of the escrow agent shall be paid by the party not entitled to Section 10.6 the escrowed funds. Regardless of the outcome or resolution of the dispute, no Event of Default with respect to the subject matter of the dispute shall be deemed to have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time occurred so long as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)disputed amounts are deposited in escrow by Tenant.

Appears in 1 contract

Sources: Sublease Agreement (Larscom Inc)

Landlord’s Default. Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for have a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after days from the date of written notice has been given by from Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right default (any such notice, a "Landlord Default Notice") to terminate this Lease for cure any breach or default by Landlord hereunder and no rightunder this Lease; provided, for however, that with respect to any such breach or defaultdefault that cannot reasonably be cured within thirty (30) days, the default shall not be deemed to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that uncured if Landlord shall have failed commences to cure any such breach or default within thirty (30) days from receipt of the Landlord Default Notice and continues to prosecute diligently the curing thereof. Tenant agrees to give any Mortgagee, by registered or certified mail, a copy of any Landlord Default Notice served upon the Landlord, provided that prior to such notice Tenant has been notified in writing of the address of such Mortgagee. If Landlord fails to cure such default within the time provided for in this Lease, then the Mortgagee shall have an additional thirty (30) days after the expiration of such cure period within which to cure such default (provided that Tenant notifies Mortgagee concurrently with Tenant's delivery of the Landlord Default Notice to Landlord; otherwise, Mortgagee shall have thirty (30) days from the later of the date on which it receives notice to Landlord (or if of the default from Tenant and the expiration of Landlord's cure period). If such breach or default cannot be cured by Mortgagee within said timethe cure period, then within such additional time Tenant may not exercise any of its remedies so long as may be necessary if within said thirty days Landlord Mortgagee has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including including, but not limited to to, commencement of foreclosure proceedings, if necessary to effect such cure).

Appears in 1 contract

Sources: Lease Agreement (Netscape Communications Corp)

Landlord’s Default. A. In the event Landlord shall not be deemed to be in breach of, or in should default in the performance of, any of its obligations under this Lease unless it hereunder, Tenant shall fail to perform such obligation(s) simultaneously give Landlord and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after Landlord's mortgagee written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or such default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall thereupon have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such plus an additional time reasonable period as may be necessary required in the exercise by Landlord of due diligence) in which to cure any such default. In addition, Landlord's mortgagee shall have the right (but not the obligation) to cure or remedy such default during the period that is permitted to Landlord hereunder, and Tenant will accept such curative or remedial action taken by Landlord's mortgagee with the same effect as if within said thirty days such action had been taken by the Landlord. B. Upon the failure of Landlord has commenced and is diligently pursuing the remedies necessary or Landlord's mortgagee to cure such breach or default)default in accordance with the provisions of Paragraph 22A hereof, then Tenant shall be authorized and empowered to pay any such items for and on behalf of Landlord, and the holder(s) amount of any mortgage(s) item so paid by Tenant for and on behalf of Landlord, together with any interest or penalty required to be paid in connection therewith, shall be payable on demand by Landlord to Tenant; provided, however, that Tenant shall not be authorized and empowered to make any payment under the lessor under terms of this Paragraph 22 unless the item paid shall be superior to Tenant's interest hereunder. Tenant's exclusive remedy shall by an action for damages against Landlord, and Tenant hereby waives the benefit of any ground lease laws granting it a lien upon the property of Landlord and/or upon rent due Landlord. In the event Tenant pays any mortgage debt in full, in accordance with this paragraph, it shall, at its election, be entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach the mortgage security by assignment or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)subrogation.

Appears in 1 contract

Sources: Lease Agreement (Industrial Data Systems Corp)

Landlord’s Default. If Landlord shall not be deemed to be in breach of, or in default in the performance of, or observance of any of its covenants or obligations under set forth in this Lease unless it shall fail to perform such obligation(s) Agreement and such failure default shall continue for a period of thirty (30) daysays after Notice thereof from Tenant to Landlord and any applicable Facility Mortgagee, or such additional time period as is may be reasonably required to correct any the same, Tenant may declare the occurrence of a "Landlord Default" by a second Notice to Landlord and to such breach or defaultFacility Mortgagee. Thereafter, after written notice has been given Tenant may forthwith cure the same and, subject to the provisions of the following paragraph, invoice Landlord for costs and expenses (including reasonable attorneys' fees and court costs) incurred by Tenant to in curing the same, together with interest thereon from the date Landlord specifying receives Tenant's invoice, at the nature of Landlord's alleged breach or defaultOverdue Rate. Tenant shall have no right to terminate this Lease Agreement for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent Rent or other charges due hereunder. In If Landlord shall in good faith dispute the occurrence of any Landlord Default and Landlord, before the expiration of the applicable cure period, shall give Notice thereof to Tenant, setting forth, in reasonable detail, the basis therefor, no event Landlord Default shall Landlord ever be liable deemed to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if have occurred and Landlord shall have failed no obligation with respect thereto until final adverse determination thereof. If Tenant and Landlord shall fail, in good faith, to cure resolve any such breach or default dispute within thirty ten (3010) days after Landlord's Notice of such notice dispute, either may submit the matter for resolution to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) a court of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)competent jurisdiction.

Appears in 1 contract

Sources: Master Lease Agreement (Magellan Health Services Inc)

Landlord’s Default. Should Landlord be in default under any of the terms, covenants or conditions of this Lease, Tenant shall give Landlord prompt written notice thereof, and Tenant shall allow Landlord a reasonable length of time in which to cure such default, which time shall not, in any event be less than thirty (30) days from the date of Landlord’s receipt of such notice. If the default cannot be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform cured within such obligation(s) and such failure shall continue for a period of thirty (30) days, or no event of default shall be deemed to have occurred so long as Landlord shall commence the curing of such additional time as is reasonably required default within the thirty (30) day period and shall thereafter diligently continue the curing of same. In the event Landlord fails to correct cure any such breach default within the period prescribed in this Section, or fails to diligently cure any such default, then, after written notice has been given from Tenant to Landlord, Tenant may, but shall not be obligated to, perform any such obligations of Landlord, and Landlord shall upon demand reimburse Tenant for all reasonable costs incurred by Tenant to Landlord specifying in curing same. Landlord’s reimbursement obligation shall survive expiration or termination of the nature of Landlord's alleged breach or defaultLease. Tenant shall have no Notwithstanding Tenant’s right to terminate this Lease for any breach or elect to cure a Landlord default hereunder, in the event of a default by Landlord hereunder hereunder, Tenant reserves all rights and no right, for any such breach remedies at law or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)in equity.

Appears in 1 contract

Sources: Commercial Lease (Birks & Mayors Inc.)

Landlord’s Default. If Tenant asserts that Landlord shall not be deemed has failed to be in breach of, or in default in the performance of, meet any of its obligations under this Lease unless it Lease, Tenant shall fail provide written notice (“Notice of Default”) to perform Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such obligation(sNotice of Default to any and all mortgage holders, provided that Tenant has been previously advised of the addresses) and of such failure mortgage holder(s). Landlord shall continue for have a period of thirty (30) daysday period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed as much time thereafter to complete such cure any such breach or default as is necessary so long as Landlord’s cure efforts are diligent and continuous, if Landlord has not begun the cure within thirty (30) days of such notice receipt of the Notice of Default, or Landlord does not thereafter diligently and continuously attempt to Landlord (or if such breach or default cannot be cured within said timecure, then within such additional time as may Landlord shall be necessary in default under this Lease, if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default)in default under this Lease, then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days days, after receipt of a second written notice from Tenant, within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessarynecessary so long as their efforts are diligent and continuous. Landlord’s Options. If Tenant is in default of this Lease, if within Landlord may, at its option, in addition to such thirty (30) days any such holder or lessor has commenced and other remedies as may be available under the law of the State where the Center is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure).located:

Appears in 1 contract

Sources: Lease (Radiation Therapy Services Holdings, Inc.)

Landlord’s Default. In the event of any default by Landlord, Tenant (except in the event of emergencies) will give Landlord written notice specifying such default with particularity, and Landlord (except in the event of emergencies) shall not have thirty (30) days thereafter, or such longer period as may be required in the exercise of due diligence, but in no event more than sixty (60) days following such notice to Landlord, in which to cure such default. Provided that Landlord furnishes Tenant with the name and address of any mortgagee of Landlord, Tenant shall give notice to any mortgagee of Landlord of any claimed default hereunder, and ▇▇▇▇▇▇▇▇’s mortgagee shall have an additional thirty (30) days over and above the thirty (30) days given to Landlord in which to cure such default, and a cure by ▇▇▇▇▇▇▇▇’s mortgagee shall be deemed a cure by Landlord hereunder. Notwithstanding anything herein to be in breach ofthe contrary, or in default in the performance of, any of its obligations under this Lease unless it event Landlord shall fail to perform such obligation(s) pay any sums due hereunder to Tenant, and such failure shall continue for a period of thirty (30) daysdays (or such longer period permitted herein) after receipt by Landlord of written notice from Tenant, or such additional time as is reasonably required shall fail to correct perform any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged ’s obligations set forth in Article IV hereof, then Tenant may, in addition to any other rights set out in this Lease, (a) cure such default or breach or default. Tenant shall have no right to terminate this Lease for any breach or default by of Landlord hereunder and no right, for any sums expended by Tenant in curing such default or breach or default, to offset or counterclaim against any rent due hereunder. In no event shall be paid by Landlord ever be liable to Tenant for any punitive damages immediately upon demand, and shall bear interest at twelve percent (12%) per annum, not to exceed the maximum rate allowed by law, or for any loss of business or any other indirect, special or consequential damages suffered by Tenant (b) elect to bring suit to recover from whatever cause. Tenant further agrees that if Landlord shall have failed the sums due from Landlord to cure any such breach or default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)Tenant.

Appears in 1 contract

Sources: Lease Agreement

Landlord’s Default. If Landlord shall not be deemed fails to be in breach of, or in default in the performance of, perform any of its obligations under this Lease unless it shall fail to perform such obligation(s) and does not cure such failure shall continue for a period of thirty within 30 days after written notice (30) days, or such additional time longer period as is reasonably required as provided in the following sentence), Tenant may but shall not be obligated to correct perform any such breach or defaultobligation of Landlord under this Lease; and, after written notice has been given if Tenant so elects, all reasonable costs and expenses actually paid by Tenant to Landlord specifying in performing such obligation, together with interest at the nature of Landlord's alleged breach or default. Tenant Default Rate, shall have no right to terminate this Lease for any breach or default be reimbursed by Landlord hereunder to Tenant on demand, accompanied by a Form W-9, original notarized lien waivers from all contractors for the work, copies of all contracts for the work, and no right, copies of all payments for any such breach or default, to offset or counterclaim against any rent due hereunderthe work made by Tenant. In no the event shall that Landlord ever be liable fails to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any reimburse such breach or default reasonable costs and expenses within thirty (30) days following Tenant’s written demand and receipt of such notice documentation, Tenant shall be entitled to Landlord (or if receive an abatement of Rent in the amount of such breach or costs and expenses. If the default is of a nature that cannot reasonably be cured within said time30 days, then within the Landlord shall have such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies reasonably necessary to cure such breach or default), then the holder(s) of any mortgage(s) or default provided that Landlord commenced its efforts to cure within the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional initial thirty (30) days within which day period and continues to diligently pursue such cure thereafter (but in no event shall such breach time exceed 180 days). Any and all remedies set forth in this Lease: (i) shall be in addition to any and all other remedies Tenant may have at law or default if such breach in equity, (ii) shall be cumulative, and (iii) may be pursued successively or default canconcurrently as Tenant may elect. The exercise of any remedy by Tenant shall not be cured within that time, then such additional time as may be necessary, if within such thirty (30) days deemed an election of remedies or preclude Tenant from exercising any such holder or lessor has commenced and is diligently pursuing other remedies in the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)future.

Appears in 1 contract

Sources: Office Lease (Telvent Git S A)

Landlord’s Default. In the event of any act or omission of Landlord constituting a default by Landlord, other than Landlord's failure to have the Improvements substantially completed on a timely basis as provided in Article 11 and to make the same fully available to Tenant as therein provided, Tenant shall not be deemed exercise any remedy until Tenant has given Landlord and any mortgagee whose name and address have been previously provided to be in breach of, Tenant prior written notice of such act or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) omission and such failure shall continue for until a 30-day period of thirty (30) days, time to allow Landlord or the mortgagee to remedy such additional time as is reasonably required to correct any such breach act or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant omission shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days elapsed following the giving of such notice to Landlord (or notice; provided, however, if such breach act or default omission cannot with due diligence and in good faith be cured within said time, then remedied within such additional 30-day period, Landlord and/or mortgagee shall be allowed such further period of time as may be reasonably necessary if provided that it shall have commenced remedying the same with due diligence and in good faith within said thirty days 30-day period. In the event any act or omission of Landlord has commenced and is diligently pursuing the remedies necessary which constitutes a Landlord's default hereunder results in an immediate threat of bodily harm to Tenant's employees, agents or invitees or damage to Tenant's property, or exposes Tenant to criminal liability, Tenant may proceed to cure such breach the default without prior notice to Landlord or default)its mortgagee and offset the cost thereof against Base Rent next due and payable; provided, then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled however, in that event Tenant shall give written notice to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time Landlord and its mortgagee as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to soon as possible after commencement of foreclosure proceedings, if necessary to effect such cure). Nothing herein contained shall be construed or interpreted as requiring any mortgagee to remedy such act or omission.

Appears in 1 contract

Sources: Lease (Radyne Corp)

Landlord’s Default. Landlord shall not be in default under this ------------------ Lease unless Landlord fails to perform the obligations required of Landlord hereunder within the time period set forth in this Lease, or if no time period is provided, then within thirty (30) days after written notice by Tenant to Landlord in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord's obligation is such that more than thirty (30) days are required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. Tenant shall have no rights as a result of any default by Landlord until Tenant gives thirty (30) days' notice to any person who has a recorded interest pertaining to the Building, specifying the nature of the default. Such person shall then have the right to cure such default, and Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform if such obligation(s) and person cures such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed to cure any such breach or default within thirty (30) days after receipt of such notice to Landlord (of the default, or if such breach or default cannot be cured within said time, then within such additional longer period of time as may reasonably be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure the default. If Landlord or such breach person does not cure the default, Tenant may exercise such rights or remedies as shall be provided or permitted by law to recover any damages proximately caused by such default). Each of the parties agrees that, then in the holder(s) of any mortgage(s) or the lessor under any ground lease event that it becomes entitled to notice receive damages from the other party, it shall not be allowed to recover from the other party consequential damages except as otherwise expressly provided (i) with respect to any holdover by Tenant in Article 16, and (ii) in connection with any termination of this Lease by Landlord following Tenant's default pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)19.2.1.

Appears in 1 contract

Sources: Office Lease (Homestore Com Inc)

Landlord’s Default. In the event Landlord shall not be deemed fails to be in breach of, or in default in the performance of, perform any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed fails to cure any such breach or default within thirty (30) days after written notice from Tenant specifying the nature of such notice to Landlord (or if default where such breach or default cannot could reasonably be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days day period, or fails to commence such cure within which to cure such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such said thirty (30) day period, then Tenant shall have the following remedies: (a) Tenant may 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 its obligations; or (b) Tenant may cure any default of Landlord at Landlord’s cost. If Tenant at any time by reason of Landlord’s default reasonably pays any sum or does any act that requires the payment of any sum, the sum paid by Tenant shall be due from Landlord to Tenant. Any such amount shall be payable by Landlord to Tenant within ten (10) business days any such holder or lessor has commenced following Tenant’s written demand for payment and is diligently pursuing receipt of documentation from Tenant of the remedies necessary to cure such breach or default (including but not limited to commencement cost of foreclosure proceedingsperforming the same. Further, if necessary such amount is not paid within sixty (60) days of demand therefore, Tenant may offset the amount against the next installments of Rent payable by Tenant to effect Landlord under this Lease, but in no event shall such cure)offset in any month be more than one-quarter of the Rent due in such month.

Appears in 1 contract

Sources: Lease Agreement (Ade Corp)

Landlord’s Default. 28.1 Landlord shall not be deemed to be in breach of, or in default in the performance of, any of its obligations under this Lease unless if it shall fail fails to perform any provision of this Lease that it is obligated to perform and if the failure to perform is not cured within thirty (30) days after written notice of the default has been given by Tenant to Landlord. If such obligation(s) and such failure shall continue for a period of default cannot reasonably be cured within thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature shall not be in default of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or if Landlord commences to cure the default within such thirty (30) day period and diligently and in good faith continues to cure the default until completion, provided the same is capable of being cured by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord. 28.2 If Landlord shall have failed to cure a default by Landlord after expiration of the applicable time, if any, for cure of a particular default, Tenant may, at its election, but without obligation therefor (a) seek specific performance of any such obligation of Landlord, or seek to enjoin any breach or default within thirty (30) days hereof, after which Tenant shall retain, and may exercise and enforce, any and all rights which Tenant may have against Landlord as a result of such notice to default, and/or (b) exercise any other remedy given hereunder or now or hereafter existing at law or in equity or by statute, and/or (c) cure the default and ▇▇▇ Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced for the expense reasonably incurred thereby and is diligently pursuing deduct from Rent thereafter payable the remedies necessary to cure such breach or default), then the holder(s) amount of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days within which to cure final unappealable judgment obtained by Tenant against Landlord in such breach or default if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)suit.

Appears in 1 contract

Sources: Merger Agreement (Prophet 21 Inc)

Landlord’s Default. In the event of any alleged default on the part of Landlord, Tenant shall give written notice to Landlord and shall not be deemed afford Landlord 30 days to be in breach of, or in default in the performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct cure any such breach default or default, after written notice has been given by Tenant to Landlord specifying if the nature of Landlord's the default is such that it cannot be cured within 30 days, such longer period as may be reasonably necessary so long as Landlord begins the cure within such 30-day period and diligently pursues it to completion. Notice to Landlord or any such alleged breach default shall be ineffective unless a copy of such notice is simultaneously delivered to each holder of a mortgage or defaultdeed of trust affecting all or any portion of the Building (“Mortgagee”), but only if the name and address has been provided to Tenant in writing prior to the giving of ▇▇▇▇▇▇’s notice under this Section. Tenant shall have no right agrees to terminate this Lease for give all Mortgagees, in the manner provided in Section 29.17, at the address referred to herein, a copy of any breach or notice of default by Landlord hereunder given to Landlord, but only if the name and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable address has been provided to Tenant for any punitive damages or for any loss in writing prior to the giving of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause▇▇▇▇▇▇’s notice under this Section. Tenant further agrees that if Landlord shall have failed to cure any such breach default or failed to have commenced to diligently cure such default within thirty (30) days of such notice to Landlord (or if such breach or default cannot be cured within said time, then within such additional the time as may be necessary if within said thirty days Landlord has commenced and is diligently pursuing the remedies necessary to cure such breach or default)provided for in this Lease, then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 Mortgagees shall have an additional thirty (30) 30 days within which to cure such default. If a material default or breach or default if such breach or default canby Landlord of a material provision of this Lease is not be cured within that timethe time periods provided for in this Section, then such additional time Tenant may terminate this Lease by written notice to Landlord within 15 days after the expiration of the last applicable cure period. In no event will any party be responsible for any consequential damages incurred by the other party as may be necessarya result of any default, if within such thirty (30) days any such holder including without limitation lost profits or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement interruption of foreclosure proceedings, if necessary to effect such cure)business.

Appears in 1 contract

Sources: Office Lease (Thayer Ventures Acquisition Corp)

Landlord’s Default. If Tenant asserts that Landlord shall not be deemed has failed to be in breach of, or in default in the performance of, meet any of its obligations under this Lease unless it Lease, Tenant shall fail provide written notice ("Notice of Default") to perform Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy of such obligation(sNotice of Default to any and all mortgage holders, provided the Tenant has been previously advised of the address(es) and of such failure mortgage holder(s). Landlord shall continue for have a period of thirty (30) daysday period after receipt of the Notice of Default in which to commence curing any non-performance by Landlord, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed as much time thereafter to complete such cure any such breach or default as is necessary so long as Landlord's cure efforts are diligent and continuous. If Landlord has not begun the cure within thirty (30) days of such notice to receipt of the Notice of Default, or Landlord (or if such breach or default candoes not be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced thereafter diligently and is diligently pursuing the remedies necessary continuously attempt to cure such breach or default)then Landlord shall be in default under this Lease. If Landlord is in default under this Lease, then the mortgage holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional thirty (30) days days, after receipt of a second written notice from Tenant, within which to cure such breach or default or, if such breach or default cannot be cured within that time, then such additional time as may be necessary, if within such thirty (30) days any such holder or lessor has commenced necessary so long as their efforts am diligent and is diligently pursuing the remedies necessary to cure such breach or default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure)continuous.

Appears in 1 contract

Sources: Standard Industrial Lease (Fix Corp International Inc)

Landlord’s Default. If Landlord shall not be deemed to be materially defaults in breach of, or in default in the its performance of, any of its obligations under this Lease unless it shall fail to perform such obligation(s) Lease, and such failure shall continue for a period of thirty (30) days, or such additional time as is reasonably required to correct any such breach or default, after written notice has been given by Tenant to Landlord specifying the nature of Landlord's alleged breach or default. Tenant shall have no right to terminate this Lease for any breach or default by Landlord hereunder and no right, for any such breach or default, to offset or counterclaim against any rent due hereunder. In no event shall Landlord ever be liable to Tenant for any punitive damages or for any loss of business or any other indirect, special or consequential damages suffered by Tenant from whatever cause. Tenant further agrees that if Landlord shall have failed fails to cure any such breach or material default within thirty (30) days of such after receiving written notice to from Tenant specifying the material default, Tenant's exclusive remedy shall be an action for damages. Additionally, if the Landlord (or if such breach or default cannot be cured within said time, then within such additional time as may be necessary if within said thirty days Landlord has commenced materially defaults in its obligations under paragraph 4 "LANDLORD'S MAINTENANCE" and is diligently pursuing the remedies necessary fails to cure such breach or default), then the holder(s) of any mortgage(s) or the lessor under any ground lease entitled to notice pursuant to Section 10.6 shall have an additional material default within thirty (30) days within which after receiving written notice from Tenant specifying the material default, Tenant shall have the right to cure such breach or default if and then seek reimbursement from Landlord for any actual, out-of-pocket expenses incurred to cure such breach or default. In addition, in the event that any default cannot be cured within that time, then such additional time as may be necessary, if within such of this Lease requires more than thirty (30) days any such holder or lessor has commenced and is diligently pursuing the remedies necessary to cure such breach by Landlord, Tenant shall not be permitted to exercise any of its rights hereunder so long as Landlord is using reasonable diligence to cure the specified default. Unless Landlord fails to so cure any default after notice, Tenant shall not have any remedy or cause of action by reason thereof. Notwithstanding any thing herein to the contrary, the liability of Landlord to Tenant for any default (including by Landlord, shall be limited to actual, direct, but not limited to commencement consequential, damages therefor and shall be recoverable only from the interest of foreclosure proceedingsLandlord in the Building and the Land, if necessary to effect such cure)and neither Landlord nor Landlord's owners shall have any personal liability therefor.

Appears in 1 contract

Sources: Commercial Lease Agreement (At Track Communications Inc)