Notice of Default; Right to Cure. Xxxxxx agrees to give written notice of any default by Lessor to the Holder of any Superior Interest, provided that such Holder has notified Lessee of its desire to receive notices of default or breach. Each such notice shall specify in detail the alleged breach or default. Xxxxxx agrees that, before it exercises any rights or remedies under the Lease, the lienholder shall have the right, but not the obligation, to cure the default within the same time, if any, given to Lessor to cure the default, plus an additional thirty (30) days. Xxxxxx agrees that this cure period shall be extended by the time necessary for the lienholder to begin foreclosure proceedings and to obtain possession of the Property or Premises, as applicable.
Notice of Default; Right to Cure. Tenant agrees to give written notice of any default by Landlord to the holder of any prior Encumbrance or Underlying Lease. Tenant agrees that, before it exercises any rights or remedies under the Lease, the lienholder or lessor shall have the right, but not the obligation, to cure the default within the same time, if any, given to Landlord to cure the default, plus an additional thirty (30) days. Tenant agrees that this cure period shall be extended by the time necessary for the lienholder to diligently begin and reasonably complete foreclosure proceedings and to obtain possession of the Project or Real Property, as applicable.
Notice of Default; Right to Cure. If a Lender sends notice of default of a Leasehold Mortgage to the Lessee because the Lessee has failed to comply with the terms of the Leasehold Mortgage, the Lender shall, at the same time, send a copy of that notice to the Lessor. Upon receiving a copy of the notice of default and within that period of time in which the Lessee has a right to cure such default, the Lessor shall have the right to cure the default on the Lessee’s behalf, provided that all current payments due the Lender since the notice of default was given are made to the Lender. If after the cure period has expired, the Lender intends to accelerate the note secured by the Leasehold Mortgage or begin foreclosure proceedings under the Leasehold Mortgage, the Lender shall first notify the Lessor of its intention to do so, and Lessor shall then have the right, upon notifying the Lender within thirty (30) days of receipt of such notice, to acquire the Leasehold Mortgage by paying off the debt secured by the Leasehold Mortgage. If the Lender acquires the leasehold interest and 000 X. Xxxx Street Units through foreclosure or acceptance of a deed in lieu of foreclosure (in which event the Lease shall continue in full force and effect and Lessor shall treat the Lender as Lessee except that the covenants, agreements, conditions, provisions, restrictions and limitations contained in Section 2.4 of the Lease shall be deleted and Lessor shall have the right, but not the obligation, to increase the annual rent for each lot set forth in Section 2.3 to fair market value rental rates which shall be determined by the appraisal process provided in Section 6.7), the Lender shall give Lessor written notice of such acquisition and Lessor shall then have an option to purchase the leasehold interest and 000 X. Xxxx Street Units from the Lender for the full amount owing to the Lender under the Leasehold Mortgage. To exercise this option to purchase, Lessor must give written notice to the Lender of its intent to purchase the foregoing within thirty (30) days following Lessor’s receipt of the Lender’s notice. Lessor must then complete the purchase within sixty (60) days of having given written notice of its intent to purchase. If Lessor does not complete the purchase within this sixty (60) day period, the Lender shall be free to sell the Leasehold Interest and 000 X. Xxxx Street Units to any person or entity.
Notice of Default; Right to Cure. 7.1 In the event Tenant gives written notice to Landlord of a breach of its obligations under the Lease, Tenant shall forthwith furnish a copy of such notice to Trustee.
Notice of Default; Right to Cure. Tenant agrees to give written notice of any default by Landlord to the holder of any prior Encumbrance or Underlying Lease. Tenant agrees that, before it exercises any rights or remedies under the Lease, the lienholder or lessor shall have the right, but not the obligation, to cure the default (either by itself or by a receiver for the Real Property) within the same time, if any, given to Landlord to cure the default, plus an additional thirty (30) days, except that (i) only ten (10) days shall be permitted in the case of a default in the payment of money from Landlord to Tenant; and (ii) in the event of an emergency, the lienholder or lessor shall be required to commence a cure as soon as is reasonably possible, and in the event the lender or lienholder fails to do so, Tenant shall have the right to cure to avoid the risk of in jury to persons, significant damage to property, or material interference with Tenant's operation of its business. Tenant agrees that this cure period shall be extended by the time necessary for the lienholder to begin foreclosure proceedings and to obtain possession of the Building or Real Property, as applicable, as long as the lienholder:
Notice of Default; Right to Cure. Tenant agrees to give Lender prompt written notice of any known default by Landlord under the Lease. Tenant agrees that, before Tenant exercises any of its rights or remedies under the Lease, Lender shall have the right, but not the obligation, to cure the default within the same time given Landlord in the lease to cure the default, plus an additional thirty (30) days. Tenant agrees that the cure period shall be extended by the time reasonably necessary for Lender to commence foreclosure proceedings and to obtain possession of the Mortgage Premises, provided that this sentence shall not apply if the breach or default by Landlord poses an immediate threat to the health, safety or welfare of Tenant’s employees, customers or invitees at the Leased Premises, provided further that:
Notice of Default; Right to Cure. In the event buyer fails to make timely payments or otherwise violates terms and conditions of the Lease constituting a default of Lease or this Option to Purchase agreement, Seller shall give Buyer written notice of the default and Buyer shall have ten (10) days after said written notice to cure the default. Failure to cure the default after written notice shall cause this Option to become null and void.
Notice of Default; Right to Cure. Tenant agrees to give written notice of any default by Landlord to the holder of any prior Encumbrance or Underlying Lease provided Tenant has received a written request giving the name and address of such holder. Tenant agrees that, before it exercises any rights or remedies under the Lease, the lien-holder or lessor shall have the right, but not the obligation, to cure the default within the same time, if any, given to Landlord to cure the default plus an additional ten (10) days.
Notice of Default; Right to Cure. Tenant agrees to give Lender prompt written notice of any default by Landlord under the Lease. Tenant agrees that, before Tenant exercises any of its rights or remedies under the Lease, Lender shall have the right, but not the obligation, to cure the default within the same time given Landlord in the Lease to cure the default, plus an additional thirty (30) days. In the event of any default by Landlord, the cure of which requires possession and control of the Mortgaged Premises, Tenant agrees that the cure period shall be extended by the time necessary for Lender to commence foreclosure proceedings and to obtain possession of the Mortgaged Premises, provided that:
Notice of Default; Right to Cure. The Pharmhouse Entities hereby agree that in the event that they default in the performance of any obligation under the remaining seventeen (17) leases acquired by the Pharmhouse Entities, the Pharmhouse Entities will promptly notify Woolworth of any default in which case Woolworth shall have the right to cure said default pursuant to the terms and conditions of the respective lease. Following Woolworth's cure of such default, which shall occur only following 3 business days notice to Pharmhouse of its intent to cure the Pharmhouse Entities' default, the Pharmhouse Entities may reimburse Woolworth for the amounts paid to the landlord on account of the cure, and the Pharmhouse Entities' right to occupancy of the premises shall be unaffected. In the event the Pharmhouse Entities fail to reimburse Woolworth within ten (10) days of a demand, the Pharmhouse Entities shall immediately, upon demand, reassign such lease to Woolworth and vacate and surrender possession of the premises attributable to such lease to Woolworth
