Common use of Multiple Defaults Clause in Contracts

Multiple Defaults. Tenant acknowledges that any rights or options of first refusal, or to extend the Lease Term, to expand the size of the Premises, to purchase the Premises or the Building Project, or other such or similar rights or options which have been granted to Tenant under this Lease are conditioned upon the prompt and diligent performance of the monetary terms of this Lease by Tenant. Accordingly, should Tenant commit three or more Monetary Defaults during any 12 month period, in addition to all other remedies available to Landlord, all such rights and options shall automatically, and without further action on the part of any party, expire and be deemed canceled and of no further force and effect.

Multiple Defaults. Tenant acknowledges that any rights or options of first refusal, or to extend the Lease Term, to expand the size of the Premises, to purchase the Premises or the Building ProjectBuilding, or other such or similar rights or options which have been granted to Tenant under this Lease are conditioned upon the prompt and diligent performance of the monetary terms of this Lease by Tenant▇▇▇▇▇▇. Accordingly, should Tenant commit three default under this Lease on two (2) or more Monetary Defaults occasions during any 12 twelve (12) month period, in addition to all other remedies available to Landlord, all such rights and options shall automatically, and without further action on the part of any party, expire and be deemed canceled and of no further force and effect.

Multiple Defaults. (a) Tenant acknowledges that any rights or options of first refusal, or to extend the Lease Term, to expand the size of the Premises, to purchase the Premises or the Building ProjectBuilding, or other such or similar rights or options which have been granted to Tenant under this Lease are conditioned upon the prompt and diligent performance of the monetary terms of this Lease by Tenant. Accordingly, should Tenant commit three default under this Lease on two (2) or more Monetary Defaults occasions during any 12 twelve (12) month period, in addition to all other remedies available to Landlord, all such rights and options shall automatically, and without further action on the part of any party, expire and be deemed canceled and of no further force and effect.