Common use of Tenant Breach Clause in Contracts

Tenant Breach. Landlord agrees that in the event of a default, act or omission by Tenant under the Lease that would give Landlord the right (whether immediately, after the lapse of a period of time, after notice or otherwise), to cancel or terminate the Lease or exercise any of its other rights or remedies under the Lease, including, without limitation, its right to obtain possession of the demised premises, Landlord shall not exercise such right unless and until (i) Landlord has given written notice to Leasehold Mortgagee of such default, act or omission, (ii) Leasehold Mortgagee has received such notice of such default, act or omission and (iii) Leasehold Mortgagee has failed to cure or remedy the default, act or omission within thirty (30) days after the expiration of Tenant's cure period (the "Cure Period") set forth in this Lease or, if such default, act or omission is not reasonably capable of being remedied by Leasehold Mortgagee within the Cure Period, until a reasonable period for remedying such default, act or omission shall have elapsed following the giving of such notice and following the time when Leasehold Mortgagee shall have become entitled under the Leasehold Mortgage to remedy the same (which reasonable period shall in no event be less than the period to which Tenant would be entitled under the Lease or otherwise, after similar notice, to effect such remedy), provided in such instance that Leasehold Mortgagee shall with due diligence give Landlord written notice of Leasehold Mortgagee's intention to, and shall thereafter commence and continue to, remedy such default, act or omission. In addition, if Leasehold Mortgagee cannot reasonably remedy a default, act or omission of Tenant until after Leasehold Mortgagee obtains possession of the demised premises, Landlord may not terminate or cancel the Lease or obtain possession of the demised premises by reason of such default, act or omission until the expiration of a reasonable period necessary for the remedy after Leasehold Mortgagee secures possession of the demised premises. Notwithstanding the foregoing, Leasehold Mortgagee shall have no obligation hereunder to remedy any such default, act or omission. Furthermore, Leasehold Mortgagee shall have no obligation to cure any default or other obligation of Tenant not reasonably susceptible of being cured by Leasehold Mortgagee, and all of such non-curable defaults shall be deemed waived by the Landlord as to Leasehold Mortgagee, any Successor-Tenant (as hereinafter defined in subparagraph (b) below) and all other parties, except that such waiver shall not release Tenant from any of Tenant's liability to Landlord which arises out of such non-curable defaults.