Common use of Tenant’s Opportunity to Cure Clause in Contracts

Tenant’s Opportunity to Cure. Upon the occurrence of an event of default contained in Section 10.1(a) above, if Landlord shall provide to Tenant written notice of such default, Tenant shall have 15 days from the date that Tenant receives the notice to cure the default; provided, however, that Landlord shall not be obligated to provide Tenant with a notice of a default under Section 10.1(a) more frequently than 2 times in any twelve month period. Upon the occurrence of an event of default contained in Section 10.1(b) above, if Landlord shall provide to Tenant written notice of such default, Tenant shall have 30 days to cure such default from the date that Tenant receives the notice to cure such default. If the nature of the event of default under Section 10.1(b) (which shall in no event be the payment of money) is such that Tenant reasonably cannot cure the default within the cure period, then Tenant shall have an additional reasonable amount of time to cure the event of default provided that Tenant has begun its efforts to cure the event of default within the cure period and Tenant continues its efforts to cure the event of default in a commercially reasonable manner. Upon the occurrence of the events described in Section 10.1(c), (d), (e), (f), or (g) or upon the failure by Tenant to cure the defaults in Section 10.1 (a) or (b) within the time periods described in this Section 10.2, an event of default shall occur (hereinafter an “Event of Default”).

Appears in 2 contracts

Samples: Parking Lease Agreement, Parking Lease Agreement

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Tenant’s Opportunity to Cure. Upon the occurrence of an event of default 801 contained in Section 10.1(a) above, if Landlord shall provide to Tenant written notice of such default, 802 Tenant shall have 15 fifteen (15) days from the date that Tenant receives the notice to cure the default; 803 provided, however, that Landlord shall not be obligated to provide Tenant with a notice of a default under 804 Section 10.1(a) more frequently than 2 two (2) times in any twelve (12) month period. Upon the 805 occurrence of an event of default contained in Section 10.1(b) above, if Landlord shall provide to Tenant 806 written notice of such default, Tenant shall have 30 thirty (30) days to cure such default from the date that 807 Tenant receives the notice to cure such default. If the nature of the event of default under Section 10.1(b) 808 (which shall in no event be the payment of money) is such that Tenant reasonably cannot cure the default 809 within the cure period, then Tenant shall have an additional reasonable amount of time to cure the event 810 of default provided that Tenant has begun its efforts to cure the event of default within the cure period and 811 Tenant continues its efforts to cure the event of default in a commercially reasonable manner. In addition, 812 the provisions of Section 11.17(d) are incorporated herein as fully as if they were set forth herein 813 verbatim. Upon the occurrence of the events described in Section 10.1(c), (d), (e), (f), or (g) or upon the 814 failure by Tenant to cure the defaults in Section 10.1 (a) or (b) within the time periods described in this 815 Section 10.2, an event of default shall occur (hereinafter an “Event of Default”).. 816

Appears in 2 contracts

Samples: Parking Lease Agreement, Parking Lease Agreement

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Tenant’s Opportunity to Cure. Upon the occurrence of an event of default contained in Section 10.1(a) above, if Landlord shall provide to Tenant written notice of such default, Tenant shall have 15 fifteen (15) days from the date that Tenant receives the notice to cure the default; provided, however, that Landlord shall not be obligated to provide Tenant with a notice of a default under Section 10.1(a) more frequently than 2 two (2) times in any twelve (12) month period. Upon the occurrence of an event of default contained in Section 10.1(b) above, if Landlord shall provide to Tenant written notice of such default, Tenant shall have 30 thirty (30) days to cure such default from the date that Tenant receives the notice to cure such default. If the nature of the event of default under Section 10.1(b) (which shall in no event be the payment of money) is such that Tenant reasonably cannot cure the default within the cure period, then Tenant shall have an additional reasonable amount of time to cure the event of default provided that Tenant has begun its efforts to cure the event of default within the cure period and Tenant continues its efforts to cure the event of default in a commercially reasonable manner. In addition, the provisions of Section 11.17(d) are incorporated herein as fully as if they were set forth herein verbatim. Upon the occurrence of the events described in Section 10.1(c), (d), (e), (f), or (g) or upon the failure by Tenant to cure the defaults in Section 10.1 (a) or (b) within the time periods described in this Section 10.2, an event of default shall occur (hereinafter an “Event of Default”).

Appears in 1 contract

Samples: Parking Lease Agreement

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