Right of Mortgagee to Cure Default Sample Clauses

Right of Mortgagee to Cure Default. 12.1.3(a) A Mortgagee may give notice to the City, specifying the name and address of such Mortgagee and attaching thereto a true and complete copy of the Mortgage held by such Mortgagee (“Request for Notice”). If the Request for Notice shall be given, at the same time the City sends such notice to Developer, the City shall send to such Mortgagee a copy of each Notice of Default or Hearing Notice from the City to Developer which relates to, affects, or potentially may adversely affect, the interest of Developer in the Property or portion thereof which serves as security for the Mortgage. The copy of the Notice of Default or Hearing Notice sent to the Mortgagee pursuant to this Section 12.1.3(a) shall be addressed to such Mortgagee at its address last furnished to the City. The period within which a Mortgagee may cure a particular Default shall not begin to run until the City has sent to the Mortgagee such copy of a Notice of Default or Hearing Notice.
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Right of Mortgagee to Cure Default. Upon the occurrence of any default, each Mortgagee shall have the right to make good such default in the place of Tenant, whether the same consists of failure to pay rent or failure to make any other payment or to perform any other matter or thing which Tenant is hereby required to do or perform, and Landlord shall accept such performance on the part of the Mortgagee as though the same has been done or performed by Tenant. In the case of any default by Tenant (other than in the payment of rent or other payment or money hereunder) which can be cured only by the party having title or possession of the Building and improvements or of Tenant’s interest under this Lease, Landlord will take no action to obtain possession of the Premises or exercise any other remedies for default without first giving to the Mortgagee reasonable time (not to exceed ninety (90) days) within which either (i) to obtain title or possession (including possession by a receiver) and cure such default, in the case of a default which is susceptible of being cured when the Mortgagee has obtained possession or title, or (ii) to institute foreclosure proceedings and complete such foreclosure, or otherwise acquire Tenant’s interest under this Lease, with diligence and continuity; provided, however, that the Mortgagee shall not be required to continue such possession, hold such title or continue such foreclosure proceedings if the default shall be cured; and provided, further, that nothing herein shall preclude Landlord from exercising any rights and remedies under this Lease with respect to any other default by Tenant during any period of such foreclosure, subject to the provisions hereof.
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Right of Mortgagee to Cure Default. (a) A Mortgagee may, at any time, give a Request for Notice to the City. If the Request for Notice shall be given, at the same time the City sends such notice to Developer, the City shall send to such Mortgagee a copy of each Notice of Default or Hearing Notice from the City to Developer which relates to, affects, or potentially may adversely affect, the interest of Developer in the Property or portion thereof which serves as security for the Mortgage. The copy of the Notice of Default or Hearing Notice sent to the Mortgagee pursuant to this Section 12.2(a) shall be addressed to such Mortgagee at its address last furnished to the City. The period within which a Mortgagee may cure a particular Default shall not begin to run until the City has sent to the Mortgagee such copy of a Notice of Default or Hearing Notice.
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Related to Right of Mortgagee to Cure Default

  • LANDLORD'S RIGHT TO CURE DEFAULT PAYMENTS BY TENANT

  • Landlord’s Right to Cure Defaults Landlord may, but shall not be obligated to, cure, at any time, without notice, any default by Tenant under this Lease; and whenever Landlord so elects, all costs and expenses incurred by Landlord, including reasonable attorneys’ fees, in curing a default shall be paid, as Additional Rent, by Tenant to Landlord on demand, together with lawful interest thereon from the date of payment by Landlord to the date of payment by Tenant.

  • Landlord’s Right to Cure Tenant’s Default If an Event of Default shall have occurred and be continuing, Landlord, after Notice to Tenant (which Notice shall not be required if Landlord shall reasonably determine immediate action is necessary to protect person or property), without waiving or releasing any obligation of Tenant and without waiving or releasing any Event of Default, may (but shall not be obligated to), at any time thereafter, make such payment or perform such act for the account and at the expense of Tenant, and may, to the maximum extent permitted by law, enter upon the Leased Property or any portion thereof for such purpose and take all such action thereon as, in Landlord's sole and absolute discretion, may be necessary or appropriate therefor. No such entry shall be deemed an eviction of Tenant. All reasonable costs and expenses (including, without limitation, reasonable attorneys' fees) incurred by Landlord in connection therewith, together with interest thereon (to the extent permitted by law) at the Overdue Rate from the date such sums are paid by Landlord until repaid, shall be paid by Tenant to Landlord, on demand.

  • Landlords Right to Cure Default Payments by Tenant All covenants and agreements to be kept or performed by Tenant under this Lease shall be performed by Tenant at Tenant’s sole cost and expense and without any reduction of rent. If Tenant shall fail to perform any of its obligations under this Lease, within a reasonable time after such performance is required by the terms of this Lease, Landlord may, but shall not be obligated to, after three (3) days prior written notice to Tenant, make any such payment or perform any such act on Tenant’s behalf without waiving its rights based upon any default of Tenant and without releasing Tenant from any obligations hereunder. Tenant shall pay to Landlord, within ten (10) days after delivery by Landlord to Tenant of statements therefore, an amount equal to the expenditures reasonably made by Landlord in connection with the remedying by Landlord of Tenant’s defaults pursuant to the provisions of this Section 14.

  • Right to Cure Defaults Upon the occurrence and during the continuance of any Event of Default, Lender may, but without any obligation to do so and without notice to or demand on Borrower and without releasing Borrower from any obligation hereunder, make any payment or do any act required of Borrower hereunder in such manner and to such extent as Lender may deem necessary to protect the security hereof. Lender is authorized to enter upon the Property for such purposes, or appear in, defend, or bring any action or proceeding to protect its interest in the Property for such purposes, and the cost and expense thereof (including reasonable attorneys’ fees to the extent permitted by law), with interest as provided in this Section 11.3, shall constitute a portion of the Debt and shall be due and payable to Lender upon demand. All such costs and expenses incurred by Lender in remedying such Event of Default or such failed payment or act or in appearing in, defending, or bringing any action or proceeding shall bear interest at the Default Rate, for the period after written notice from Lender that such cost or expense was incurred to the date of payment to Lender. All such costs and expenses incurred by Lender together with interest thereon calculated at the Default Rate shall be deemed to constitute a portion of the Debt and be secured by the liens, claims and security interests provided to Lender under the Loan Documents and shall be immediately due and payable upon demand by Lender therefor.

  • Landlord Remedies The remedies provided Landlord under this Lease are cumulative. Upon the occurrence of any default by Tenant, and in addition to any and all other rights provided a landlord under law or equity for breach of a lease or tenancy by a tenant, Landlord shall have the right to pursue one or more of the following remedies:

  • Landlord’s Remedies If an Event of Tenant’s Default occurs, Landlord shall have the following remedies, in addition to all other rights and remedies provided by any Law or otherwise provided in this Lease, to which Landlord may resort cumulatively or in the alternative:

  • Landlord's Remedies Upon Default Upon the occurrence of any such default by Tenant, Landlord shall have, in addition to any other remedies available to Landlord at law or in equity, the option to pursue any one or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever.

  • Default Breach Remedies Notwithstanding anything to the contrary contained in Paragraph 13.1 or elsewhere in the Lease:

  • Landlord’s Right to Cure If Landlord breaches any of its obligations under this Lease, Tenant shall notify Landlord in writing and shall take no action respecting such breach so long as Landlord promptly begins to cure the breach and diligently pursues such cure to its completion. Landlord may cure any default by Tenant; any expenses incurred shall become Additional Rent due from Tenant on demand by Landlord.

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