Common use of Payment Defaults Clause in Contracts

Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunder; provided, that for the first instance within a 12-month period of Tenant’s failure to pay any amounts due hereunder when due, Tenant shall be in Default only if such failure continues for 5 days from the date when due.

Appears in 1 contract

Sources: Lease Agreement (iTeos Therapeutics, Inc.)

Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunderhereunder when due; provided, provided that for the first instance within a 12-one time in any 12 consecutive month period of Tenant’s during the Term, Tenant shall not be in Default for failure to pay any amounts due hereunder when due, Tenant shall be in Default only if Base Rent unless such failure continues shall continue for 5 a period of five (5) days after Tenant’s receipt of written notice from the date when dueLandlord.

Appears in 1 contract

Sources: Sublease Agreement (Advanced BioHealing Inc)

Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunderhereunder when due; provided, that for the first instance within a 12-month period of Tenant’s failure to pay any amounts due hereunder when due, Tenant shall be in Default only if such failure continues for 5 days from the date when due.

Appears in 1 contract

Sources: Lease Agreement (Kymera Therapeutics, Inc.)

Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunderhereunder when due; providedprovided that, that for the first instance within a 12-month period of Tenant’s failure to pay any amounts due hereunder when due, Tenant shall be in Default only if such failure continues for 5 days following notice from the date when Landlord to Tenant that such amount(s) are past due. All notices under this clause (a) shall be in lieu of and not in addition to, or shall be deemed to be, any notice required by law.

Appears in 1 contract

Sources: Lease Agreement (Werewolf Therapeutics, Inc.)

Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunderhereunder when due; providedprovided that, that for the first instance two instances within a 12-month period of Tenant▇▇▇▇▇▇’s failure to pay any amounts due hereunder when due, Tenant shall be in Default only if such failure continues for 5 five (5) business days following written notice from the date Landlord that ▇▇▇▇▇▇’s payment was not made when due.

Appears in 1 contract

Sources: Lease Agreement (Forma Therapeutics Holdings, Inc.)

Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunderhereunder when due; providedprovided that, that for the first instance two instances within a 12-month period of Tenant’s failure to pay any amounts due hereunder when due, Tenant shall be in Default only if such failure continues for 5 five (5) business days following written notice from the date Landlord that Tenant’s payment was not made when due.

Appears in 1 contract

Sources: Lease Agreement (Forma Therapeutics Holdings, Inc.)

Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunderhereunder when due; provided, provided that for the first instance within a one (1) time in any twelve (12-) consecutive month period of Tenant’s during the Term, Tenant shall not be in Default for failure to pay any amounts due hereunder when due, Tenant shall be in Default only if Base Rent unless such failure continues shall continue for 5 a period of five (5) days after Tenant’s receipt of written notice from the date when dueLandlord.

Appears in 1 contract

Sources: Lease Agreement (Advanced BioHealing Inc)