Common use of Non-Termination Clause in Contracts

Non-Termination. Landlord has the remedy described in California Civil Code Section 1951.4 (Landlord may continue this Lease in effect after Tenant's breach and abandonment and recover rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations). During the continuance of an Event of Default, Landlord may enter the Premises without terminating this Lease and sublet all or any part of the Premises for Tenant's account to any person, for such Term (which may be a period beyond the remaining term of this Lease), at such rents and on such other terms and conditions as Landlord deems advisable. In the event of any such subletting, rents received by Landlord from such subletting shall be applied (i) first, to the payment of reasonable costs of maintaining, preserving, altering and preparing the Premises for subletting and other reasonable costs of subletting, including, broker's commissions and attorneys' fees; (ii) second, to the payment of rent then due and payable; (iii) third, to the payment of future rent as the same may become due and payable hereunder; and (iv) fourth, the balance, if any, shall be paid to Tenant upon (but not before) expiration of the Term. If the rents received by Landlord from such subletting, after application as provided above, are insufficient in any month to pay the rent due and payable hereunder for such month, Tenant shall pay such deficiency to Landlord monthly upon demand. Notwithstanding any such subletting for Tenant's account without termination, Landlord may at any time thereafter, by written notice to Tenant, elect to terminate this Lease by virtue of a previous Event or Default.

Appears in 1 contract

Sources: Lease Agreement (Kabira Technologies Inc)

Non-Termination. Landlord has the remedy described Except as otherwise expressly provided in California Civil Code Section 1951.4 (Landlord may continue this Lease, this Lease in effect after shall not terminate nor shall Tenant have any right to terminate this Lease or be entitled to the abatement of any Rent hereunder or any reduction thereof, nor shall the obligations of Tenant under this Lease be otherwise affected, by reason of (a) any damage to or destruction of all or any portion of the Premises from whatever cause, (b) the prohibition, limitation or restriction of or interference with Tenant's breach use of all or any portion of the Premises, (c) the failure on the part of Landlord to perform or comply with any term, provision or covenant of this Lease or any other agreement to which Landlord and abandonment and recover rent as it becomes dueTenant may be parties, if (d) any claim which Tenant has or might have against Landlord, or (e) for any other cause, whether similar or dissimilar to the foregoing. Except as otherwise expressly provided in this Lease, Tenant waives all rights now or hereafter conferred by statute or otherwise to quit, terminate or surrender this Lease or the leasehold estate in the Premises or any part thereof, and to any abatement, recoupment, suspension, deferment, diminution or reduction of Rent. Notwithstanding the foregoing, upon the default by Landlord of any obligation in this Lease that it is required to perform or observe, then if (and only if) such default materially and adversely affects the business operations conducted by Tenant on the Premises (a "Qualifying Default"), Tenant shall have the right to sublet or assign, subject only to reasonable limitations). During the continuance of an Event of Default, Landlord may enter the Premises without terminating this Lease and sublet all or any part of the Premises for Tenant's account to any person, for such Term (which may be a period beyond the remaining term of terminate this Lease), at such rents and on such other terms and conditions as Landlord deems advisable. In the event of any such sublettingprovided, rents received by Landlord from such subletting however, that before Tenant shall be applied entitled to exercise such right to terminate, Tenant shall first give Landlord the opportunity to cure such default as follows: (i) firstupon the occurrence of a default by Landlord that is a Qualifying Default, Tenant shall provide Landlord with written notice describing such Qualifying Default in reasonable detail and the steps to be taken by Landlord to cure such default (the payment of reasonable costs of maintaining, preserving, altering and preparing the Premises for subletting and other reasonable costs of subletting, including, broker's commissions and attorneys' fees"Initial Notice"); (ii) second, to the payment of rent then due and payableInitial Notice shall also contain the following legend on the first page thereof: "THIS LETTER IS NOTICE UNDER SECTION 5.02 OF THE LEASE THAT A DEFAULT HAS OCCURRED WHICH ENTITLES TENANT TO TERMINATE THE LEASE UNLESS SUCH DEFAULT IS CURED"; (iii) thirdLandlord shall have thirty (30) days following Landlord's receipt of the Initial Notice to cure such Qualifying Default, or if such Qualifying Default cannot be cured within such 30-day period, then Landlord shall have such additional time as shall be reasonably required to cure such Qualifying Default, provided that Landlord commences the payment cure of future rent as such Qualifying Default within the same may become initial 30-day period and thereafter diligently pursues such cure to completion; (iv) in the event Landlord fails to cure such Qualifying Default within the time periods set forth in (iii), then Tenant shall deliver a second written notice to Landlord, which notice shall state that Tenant has elected to terminate the Lease (the "Termination Notice") due and payable hereunderto Landlord's failure to cure the Qualifying Default identified in the Initial Notice; (v) the Termination Notice shall also contain the following legend on the first page thereof: "THIS LETTER IS NOTICE UNDER SECTION 5.02 OF THE LEASE THAT A DEFAULT HAS OCCURRED WHICH ENTITLES TENANT TO TERMINATE THE LEASE UNLESS SUCH DEFAULT IS CURED"; and (ivv) fourth, the balance, if any, such termination by Tenant shall be paid to Tenant upon effective ninety (but not before90) expiration days after Landlord has received the Termination Notice unless Landlord shall have cured the Qualifying Default identified in the Initial Notice by the end of such 90-day period, in which case the Term. If the rents received termination by Landlord from such subletting, after application as provided above, are insufficient in any month to pay the rent due and payable hereunder for such month, Tenant shall pay such deficiency to Landlord monthly upon demand. Notwithstanding any such subletting for Tenant's account without termination, Landlord may at any time thereafter, by written notice to Tenant, elect to terminate this be null and void and the Lease by virtue of a previous Event or Defaultshall continue in full force and effect.

Appears in 1 contract

Sources: Ground Lease (Seacoast Banking Corp of Florida)

Non-Termination. Landlord has the remedy described in California Civil Code Section 1951.4 (Landlord may continue this Lease in effect after Tenant's ’s breach and abandonment and recover rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations). During the continuance of an Event of Default, Landlord may enter the Premises without terminating this Lease and sublet all or any part of the Premises for Tenant's ’s account to any person, for such Term (which may be a period beyond the remaining term of this Lease), at such rents and on such other terms and conditions as Landlord deems advisable. In the event of any such subletting, rents received by Landlord from such subletting shall be applied (i) first, to the payment of reasonable costs of maintaining, preserving, altering and preparing the Premises for subletting and other reasonable costs of subletting, including, broker's ’s commissions and attorneys' fees; (ii) second, to the payment of rent then due and payable; (iii) third, to the payment of future rent as the same may become due and payable hereunder; and (iv) fourth, the balance, if any, shall be paid to Tenant upon (but not before) expiration of the Term. If the rents received by Landlord from such subletting, after application as provided above, are insufficient in any month to pay the rent due and payable hereunder for such month, Tenant shall pay such deficiency to Landlord monthly upon demand. Notwithstanding any such subletting for Tenant's ’s account without termination, Landlord may at any time thereafter, by written notice to Tenant, elect to terminate this Lease by virtue of a previous Event or Default. During the continuance of an Event of Default, for so long as Landlord does not terminate Tenant’s right to possession of the Premises, Landlord shall not unreasonably withhold its consent to an assignment or sublease of Tenant’s interest in the Premises or in this Lease.

Appears in 1 contract

Sources: Lease Agreement (Autodesk Inc)