Common use of Lessee’s Lease Default Clause in Contracts

Lessee’s Lease Default. Notwithstanding any provision to the contrary contained in the Lease, if a material default as defined in the Lease, or a default by Lessee under this Construction Agreement, has occurred at any time on or before the Substantial Completion of the Initial Improvements, then (a) in addition to all other rights and remedies granted to Lessor pursuant to the Lease (including, without limitation, the right to terminate the Lease), Lessor shall have the right to cause the Contractor to cease the construction of the Initial Improvements (in which case Lessee shall be responsible for any delay in the Substantial Completion of the Office Improvements and/or Initial Improvements caused by such work stoppage as set forth in Section 7 of this Construction Agreement and for all damages caused thereby), and (b) all other obligations of Lessor under the terms of this Construction Agreement shall be forgiven until such time as such default is cured pursuant to the terms of the Lease.

Appears in 2 contracts

Samples: Construction Agreement (Vans Inc), Construction Agreement (Vans Inc)

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Lessee’s Lease Default. Notwithstanding any provision to the contrary contained in the Lease, if a material an event of default as defined described in the Lease, or a default by Lessee under this Construction Leasehold Improvement Agreement, has occurred at any time on or before the Substantial Completion of the Initial Leasehold Improvements, then (ai) in addition to all other rights and remedies granted to Lessor pursuant to the Lease (including, without limitation, the right to terminate the Lease), Lessor shall have the right to withhold payment of all or any portion of the Leasehold Improvement Allowance and/or Lessor may cause the Contractor to cease the construction of the Initial Improvements Premises (in which case case, Lessee shall be responsible for any delay in the Substantial Completion of the Office Improvements and/or Initial Leasehold Improvements caused by such work stoppage as set forth in Section 7 of this Construction Agreement and for all damages caused therebystoppage), and (bii) all other obligations of Lessor under the terms of this Construction Leasehold Improvement Agreement shall be forgiven until such time as such default is cured pursuant to the terms of the Lease.

Appears in 1 contract

Samples: Industrial Lease (Guardion Health Sciences, Inc.)

Lessee’s Lease Default. Notwithstanding any provision to the ---------------------- contrary contained in the this Lease, if a material default an event of Lessee Default as defined described in the Lease, Lease or a default by Lessee under this Construction Agreement, Tenant Work Letter has occurred at any time on or before the Substantial Completion of the Initial ImprovementsPremises, then (ai) in addition to all other rights and remedies granted to Lessor pursuant to the Lease (including, without limitation, the right to terminate the this Lease), Lessor shall have the right to withhold payment of all or any portion of the Tenant Improvement Allowance and/or Lessor may cause the Contractor to cease the construction of the Initial Improvements Premises (in which case case, Lessee shall be responsible for any delay in the Substantial Completion substantial completion of the Office Improvements and/or Initial Improvements Premises caused by such work stoppage as set forth in Section 7 of this Construction Agreement and for all damages caused therebystoppage), and (bii) all other obligations of Lessor under the terms of this Construction Agreement Tenant Work Letter shall be forgiven until such time as such default Default is cured pursuant to the terms of this Lease (in which case, Lessee shall be responsible for any delay in the Leasesubstantial completion of the Premises caused by such inaction by Lessor).

Appears in 1 contract

Samples: New Century Financial Corp

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Lessee’s Lease Default. Notwithstanding any provision to the contrary contained in the this Lease, if a material an event of default as defined described in the LeaseLease (as amended by the Amendment), or a default by Lessee under this Construction AgreementLessee Work Letter, has occurred at any time on or before the Substantial Completion substantial completion of the Initial ImprovementsSuite 101 Premises, then (ai) in addition to all other rights and remedies granted to Lessor pursuant to the Lease (including, without limitation, as amended by the right to terminate the LeaseAmendment), Lessor shall have the right to cause the Contractor to cease the construction of the Initial Improvements Suite 101 Premises (in which case case, Lessee shall be responsible for any delay in the Substantial Completion substantial completion of the Office Improvements and/or Initial Improvements Suite 101 caused by such work stoppage as set forth in Section 7 5 of this Construction Agreement and for all damages caused therebyLessee Work Letter), and (bii) all other obligations of Lessor under the terms of this Construction Agreement Lessee Work Letter shall be forgiven until such time as such default is cured pursuant to the terms of the Lease.this Lease and (iii) Lessee shall reimburse Lessor for all out-of-pocket costs associated

Appears in 1 contract

Samples: Office Lease (Kythera Biopharmaceuticals Inc)

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