Common use of Termination and Surrender Clause in Contracts

Termination and Surrender. (a) If Endeavor fails to comply with any of the provisions of this Agreement, and if Endeavor does not initiate and diligently pursue steps to correct such default within thirty (30) days after notice has been given to it by Mayan specifying with particularity the nature of the default, then upon the expiration of the 30-day period, all rights of Endeavor under this Agreement, except as provided in Section 17, shall terminate, and all liabilities and obligations of Endeavor of any kind, character, or description (except as provided in Section 18), including any liability for any payments under Sections 8 and 9 then not due or accrued, shall terminate; provided, however, that if the default cannot reasonably be corrected within thirty (30) days then Endeavor shall have a reasonable amount of time in which to correct the default. If Endeavor by notice to Mayan disputes the existence of a default that is based on any obligation other than an obligation to pay money, then this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). If Endeavor by notice to Mayan disputes the existence of a default that is based on an obligation to pay money, then Endeavor shall be obligated to pay to Mayan within thirty (30) days after receipt of said notice the amount of money that Endeavor in its good faith determination considers to be undisputed, and this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists as to the disputed amount and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). Neither the service of any notice nor the performance of any acts by Endeavor intended to meet any alleged default shall be deemed an admission or presumption that Endeavor has failed to perform all of its obligations under this Agreement. Lessor shall not be entitled to terminate this Agreement for any default that by its nature is not retroactively curable if Endeavor has used its best efforts to cure such a default to the extent practical or if Endeavor has paid Mayan damages for such default where damages are an appropriate remedy. Lessor shall have no right to terminate this Agreement except as expressly provided in this Section. Notwithstanding the foregoing provisions of this Section, this Agreement may not be terminated, in whole or in part, by less than all the individuals and/or entities included within the term “Lessor.”

Appears in 1 contract

Samples: Mining Lease (Endeavor Uranium, Inc.)

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Termination and Surrender. (a) If Endeavor fails to comply with any As of the provisions Termination Date, Tenant hereby surrenders the Premises to Landlord and does hereby give, grant and surrender unto Landlord all of this AgreementTenant's right, title and interest in and to the Premises, including, without limitation, all of Tenant's right, title and interest in, to and under the Lease, and if Endeavor does not initiate and diligently pursue steps to correct Landlord hereby accepts such default within thirty (30) days after notice has been given to it by Mayan specifying with particularity the nature surrender. Except as otherwise expressly provided herein, each of the default, then upon the expiration parties hereto acknowledges performance of all obligations of the 30-day periodother party under the Lease or otherwise in connection with the Premises through and including the Termination Date. The Lease is hereby agreed to be null and void and of no further force and effect as of the Termination Date. In addition, any and all rights of Endeavor under this Agreement, except as provided in Section 17, shall terminate, and all liabilities and obligations of Endeavor the parties that may have arisen in connection with the Premises shall be deemed to have expired and terminated as of the Termination Date, except that nothing herein shall waive any kindrights of indemnification owed by Tenant to Landlord under the Lease, character, or description (except as provided in Section 18), including any liability for any payments under Sections 8 and 9 then not due or accrued, each of which shall terminatebe preserved to the full extent of applicable insurance coverage; provided, however, that if Landlord’s recourse for any indemnification arising under the default cannot reasonably be corrected within thirty (30) days then Endeavor shall have a reasonable amount of time in which to correct the default. If Endeavor by notice to Mayan disputes the existence of a default that is based on any obligation other than an obligation to pay money, then this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). If Endeavor by notice to Mayan disputes the existence of a default that is based on an obligation to pay money, then Endeavor Lease shall be obligated strictly limited to pay to Mayan within thirty (30) days after receipt applicable insurance proceeds and coverage benefits and in no event shall Landlord have recourse against Tenant or its estate. As of said notice the amount of money that Endeavor in its good faith determination considers to be undisputedTermination Date, and this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists except as to the disputed amount obligations of Tenant and Landlord expressly set forth in this Agreement, Tenant and Landlord hereby mutually and forever release each other and their respective successors and assigns of and from any and all claims, damages, obligations, liabilities, actions and causes of action of every kind and nature whatsoever that may arise under or in connection with the Lease before, on or after the Termination Date, including, without limitation, any claims under section 502(b)(6) of the Bankruptcy Code. Such release shall not and hereby does extend to all claims, demands, damages, liabilities, obligations or actions, either in law or in equity, of any kind or nature whatsoever, whether known or unknown, direct or indirect, matured or hereafter existing, including claims asserted in Tenant’s bankruptcy, arising out of or relating to the Lease, the Premises or Tenant’s occupancy of the Premises, or Tenant’s initiation of its bankruptcy proceeding. Landlord and Tenant further hereby acknowledge that they may hereafter discover facts different from or in addition to those it knows or believes to be terminated thereafter if Endeavor true with respect to claims that are subject of this release and the parties each hereby agree that the release shall satisfy such judgment within thirty (30) days following its entry (or if an appeal be and remain effective in all respects, regardless of such judgment is taken, following its affirmance by additional or different facts. To the highest court to which such an appeal is made). Neither the service extent Landlord has filed or files any proof of any notice nor the performance of any acts by Endeavor intended to meet any alleged default shall be deemed an admission or presumption that Endeavor has failed to perform all of its obligations under this Agreement. Lessor shall not be entitled to terminate this Agreement for any default that by its nature is not retroactively curable if Endeavor has used its best efforts to cure such a default claims with respect to the extent practical Lease or if Endeavor has paid Mayan damages for the Premises, Landlord consents to the expungement of such default where damages are an appropriate remedy. Lessor claims, with prejudice, and hereby affirmatively acknowledges that Landlord shall have no right to terminate this Agreement except as expressly provided claim against Tenant or its estate in this Section. Notwithstanding the foregoing provisions of this Section, this Agreement may not be terminated, in whole Tenant’s pending bankruptcy proceeding or in part, by less than all the individuals and/or entities included within the term “Lessorotherwise.

Appears in 1 contract

Samples: Lease Termination Agreement

Termination and Surrender. (a) If Endeavor fails to comply with any As of the provisions Termination Date, Xxxxxx hereby surrenders the Premises to Landlord and does hereby give, grant and surrender unto Landlord all of this AgreementTenant's right, title and interest in and to the Premises, including, without limitation, all of Xxxxxx's right, title and interest in, to and under the Lease, and if Endeavor does not initiate and diligently pursue steps to correct Landlord hereby accepts such default within thirty (30) days after notice has been given to it by Mayan specifying with particularity the nature surrender. Except as otherwise expressly provided herein, each of the default, then upon the expiration parties hereto acknowledges performance of all obligations of the 30-day periodother party under the Lease or otherwise in connection with the Premises through and including the Termination Date. The Lease is hereby agreed to be null and void and of no further force and effect as of the Termination Date. In addition, any and all rights of Endeavor under this Agreement, except as provided in Section 17, shall terminate, and all liabilities and obligations of Endeavor the parties that may have arisen in connection with the Premises shall be deemed to have expired and terminated as of the Termination Date, except that nothing herein shall waive any kindrights of indemnification owed by Tenant to Landlord under the Lease, character, or description (except as provided in Section 18), including any liability for any payments under Sections 8 and 9 then not due or accrued, each of which shall terminatebe preserved to the full extent of applicable insurance coverage; provided, however, that if Landlord’s recourse for any indemnification arising under the default cannot reasonably be corrected within thirty (30) days then Endeavor shall have a reasonable amount of time in which to correct the default. If Endeavor by notice to Mayan disputes the existence of a default that is based on any obligation other than an obligation to pay money, then this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). If Endeavor by notice to Mayan disputes the existence of a default that is based on an obligation to pay money, then Endeavor Lease shall be obligated strictly limited to pay to Mayan within thirty (30) days after receipt applicable insurance proceeds and coverage benefits and in no event shall Landlord have recourse against Tenant or its estate. As of said notice the amount of money that Endeavor in its good faith determination considers to be undisputedTermination Date, and this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists except as to the disputed amount obligations of Tenant and Landlord expressly set forth in this Agreement, Tenant and Landlord hereby mutually and forever release each other and their respective successors and assigns of and from any and all claims, damages, obligations, liabilities, actions and causes of action of every kind and nature whatsoever that may arise under or in connection with the Lease before, on or after the Termination Date, including, without limitation, any claims under section 502(b)(6) of the Bankruptcy Code. Such release shall not and hereby does extend to all claims, demands, damages, liabilities, obligations or actions, either in law or in equity, of any kind or nature whatsoever, whether known or unknown, direct or indirect, matured or hereafter existing, including claims asserted in Tenant’s bankruptcy, arising out of or relating to the Lease, the Premises or Tenant’s occupancy of the Premises, or Tenant’s initiation of its bankruptcy proceeding. Landlord and Xxxxxx further hereby acknowledge that they may hereafter discover facts different from or in addition to those it knows or believes to be terminated thereafter if Endeavor true with respect to claims that are subject of this release and the parties each hereby agree that the release shall satisfy such judgment within thirty (30) days following its entry (or if an appeal be and remain effective in all respects, regardless of such judgment is taken, following its affirmance by additional or different facts. To the highest court to which such an appeal is made). Neither the service extent Landlord has filed or files any proof of any notice nor the performance of any acts by Endeavor intended to meet any alleged default shall be deemed an admission or presumption that Endeavor has failed to perform all of its obligations under this Agreement. Lessor shall not be entitled to terminate this Agreement for any default that by its nature is not retroactively curable if Endeavor has used its best efforts to cure such a default claims with respect to the extent practical Lease or if Endeavor has paid Mayan damages for the Premises, Landlord consents to the expungement of such default where damages are an appropriate remedy. Lessor claims, with prejudice, and hereby affirmatively acknowledges that Landlord shall have no right to terminate this Agreement except as expressly provided claim against Tenant or its estate in this Section. Notwithstanding the foregoing provisions of this Section, this Agreement may not be terminated, in whole Tenant’s pending bankruptcy proceeding or in part, by less than all the individuals and/or entities included within the term “Lessorotherwise.

Appears in 1 contract

Samples: Lease Termination Agreement

Termination and Surrender. (a) If Endeavor fails to comply with any As of the provisions Termination Date, Tenant hereby surrenders the Premises to Landlord and does hereby give, grant and surrender unto Landlord all of this AgreementTenant's right, title and interest in and to the Premises, including, without limitation, all of Tenant's right, title and interest in, to and under the Lease, and if Endeavor does not initiate and diligently pursue steps to correct Landlord hereby accepts such default within thirty (30) days after notice has been given to it by Mayan specifying with particularity the nature surrender. Except as otherwise expressly provided herein, each of the default, then upon the expiration parties hereto acknowledges performance of all obligations of the 30-day periodother party under the Lease or otherwise in connection with the Premises through and including the Termination Date. The Lease is hereby agreed to be null and void and of no further force and effect as of the Termination Date. In addition, any and all rights of Endeavor under this Agreement, except as provided in Section 17, shall terminate, and all liabilities and obligations of Endeavor the parties that may have arisen in connection with the Premises shall be deemed to have expired and terminated as of the Termination Date, except that nothing herein shall waive any kindrights of indemnification owed by Tenant to Landlord under the Lease, character, or description (except as provided in Section 18), including any liability for any payments under Sections 8 and 9 then not due or accrued, each of which shall terminatebe preserved to the full extent of applicable insurance coverage; provided, however, that if Landlord’s recourse for any indemnification arising under the default cannot reasonably be corrected within thirty (30) days then Endeavor shall have a reasonable amount of time in which to correct the default. If Endeavor by notice to Mayan disputes the existence of a default that is based on any obligation other than an obligation to pay money, then this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). If Endeavor by notice to Mayan disputes the existence of a default that is based on an obligation to pay money, then Endeavor Lease shall be obligated strictly limited to pay to Mayan within thirty (30) days after receipt of said notice the amount of money that Endeavor applicable insurance proceeds and coverage benefits and in no event shall Landlord have recourse against Tenant or its good faith determination considers to be undisputed, and this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists as to the disputed amount and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). Neither the service of any notice nor the performance of any acts by Endeavor intended to meet any alleged default shall be deemed an admission or presumption that Endeavor has failed to perform all of its obligations under this Agreement. Lessor shall not be entitled to terminate this Agreement for any default that by its nature is not retroactively curable if Endeavor has used its best efforts to cure such a default to the extent practical or if Endeavor has paid Mayan damages for such default where damages are an appropriate remedy. Lessor shall have no right to terminate this Agreement except as expressly provided in this Section. Notwithstanding the foregoing provisions of this Section, this Agreement may not be terminated, in whole or in part, by less than all the individuals and/or entities included within the term “Lessorestate.

Appears in 1 contract

Samples: Lease Termination Agreement

Termination and Surrender. (a) If Endeavor Buyer fails to comply with any of the provisions of this Agreement, Agreement and if Endeavor Buyer does not initiate and diligently pursue steps to correct such default within thirty (30) days after notice has been given to it by Mayan specifying with particularity Seller(s) detailing the nature of the such default, then upon the expiration of the 30-thirty day period, period all rights of Endeavor Buyer under this Agreement, Agreement (except as provided in Section 17, paragraph 16) shall terminate, and all liabilities and obligations of Endeavor Buyer (except liability existing on the date of any kind, character, or description termination and (except as provided in Section 18), including any liability for any payments under Sections 8 paragraphs 13 and 9 then not due or accrued, 17) shall terminate; provided. Any default claimed with respect to the payment of money may be cured by the deposit in escrow of the amount in controversy (not including claimed consequences special exemplary, howeveror punitive damages) and the giving of notice of the deposit to Owners the amount to remain in escrow until the controversy is resolved by decision of a court or arbitration, that if the default cannot reasonably be corrected within thirty (30) days then Endeavor shall have a reasonable amount of time in which to correct the defaultor otherwise. If Endeavor Buyer by notice to Mayan Seller(s) disputes the existence of a default that is based on any obligation other than an obligation to pay moneydefault, then this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a unless Buyer does not initiate and diligently pursue steps to correct the default exists and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). If Endeavor by notice to Mayan disputes the existence of a default that is based on an obligation to pay money, then Endeavor shall be obligated to pay to Mayan within thirty (30) days after receipt the existence of said notice the amount a default has been determined by decision of money that Endeavor in its good faith determination considers to be undisputed, and this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists as or arbitration or otherwise; Subject to the disputed amount and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30right of Seller(s) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). Neither the service of any notice nor the performance of any acts by Endeavor intended to meet any alleged default shall be deemed an admission or presumption that Endeavor has failed to perform all of its obligations under this Agreement. Lessor shall not be entitled to terminate this Agreement as provided in the foregoing subparagraph (a), controversy between the parties hereto shall not interrupt performance of this Agreement or continuation of operations hereunder. In the event of any controversy, Buyer may continue operating hereunder and shall make the payments provided for herein not withstanding the existence of such controversy. Upon the resolution of the controversy, such payments or restitution shall be made as required by the terms of the decision of a court or arbitration or otherwise. Buyer may at any default that by its nature is not retroactively curable if Endeavor has used its best efforts to cure such a default to the extent practical or if Endeavor has paid Mayan damages for such default where damages are an appropriate remedy. Lessor shall have no right to time terminate this Agreement as to the Property by delivering to Seller(s) or by filing for record in the appropriate office, with a copy to Seller(s), a good and sufficient Surrender of this Agreement. Upon mailing the Surrender to, or to the appropriate office, all rights of Buyer under this Agreement (except as expressly provided in this Sectionparagraph 16) shall terminate and all liabilities and obligation of Buyer with respect to the Property (except liabilities existing the date of termination and except as provided in the paragraphs 13 and 17) shall terminate. Notwithstanding the foregoing provisions foregoing, either (a) the appointment of a receiver to take possession of all or substantially all of the assets of Buyer, or (b) a general assignment by Buyer for the benefit of creditors, or (c) any action taken or suffered by Buyer under any insolvency or bankruptcy act shall constitute a breach of this SectionAgreement by Buyer, and shall, at the option of Seller(s), terminate this Agreement may not be terminated, in whole or in part, by less than all the individuals and/or entities included within the term “LessorAgreement.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (Golden Queen Mining Co LTD)

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Termination and Surrender. (a) If Endeavor fails to comply with any Upon expiration of the Lease Term, or any earlier termination of this Lease, Tenant shall remove all Trade Fixtures and quit and surrender the Property and the Leasehold Improvements to Landlord, free and clear of all liens, encumbrances or title exceptions other than the Permitted Title Exceptions and exceptions to title not otherwise created by or through Tenant, in a good, clean and sanitary condition, excepting ordinary wear and tear, damage and destruction which Tenant is not required to restore pursuant to Article 8, condemnation which Tenant is not required to restore pursuant to Article 9, and Contamination (other than Tenant's Contamination). Notwithstanding the preceding sentence to the contrary, if this Lease is terminated prior to the natural expiration of the Lease Term, then Tenant shall have a period of ninety (90) days thereafter, or such longer period as reasonably may be necessary (not to exceed one hundred eighty (180) days) to remove its Trade Fixtures and personal property, provided that Tenant pays Monthly Rent for each month of the removal period and, during the removal period, pays any and all other rent or charges and amounts and complies with all covenants and obligations of Tenant under this Lease, except for those payments and covenants which were to be performed prior to the termination date of this Lease (and during such removal period Tenant shall not be liable for holdover rent pursuant to Section 14.3 below). Upon such termination, title to the Leasehold Improvements then existing on the Property automatically shall vest in Landlord. In no event shall the provisions hereof impose any obligation upon Tenant to restore and/or reconstruct Leasehold Improvements that are demolished or removed or to restore and/or reconstruct Leasehold Improvements following any damage, casualty loss, or condemnation, unless Tenant is required to do so by Article 8 or Article 9 hereof. On the date Tenant is required by this section to surrender possession, Tenant shall deliver to Landlord such proper and executed instruments in recordable form, releasing, quitclaiming and conveying to Landlord all right, title and interest of Tenant and any other party claiming by or through Tenant or Tenant's Estate in and to the Property and/or the Leasehold Improvements, including, without limitation, such documents necessary for Landlord to demonstrate to a title company that this Lease no longer encumbers the Property and Leasehold Improvements, and that title to the Leasehold Improvements shall have vested in Landlord, free and clear of all liens, encumbrances or title exceptions, other than the Permitted Title Exceptions and exceptions to title not otherwise created by or through Tenant. All provisions of this Agreement, and if Endeavor does not initiate and diligently pursue steps to correct such default within thirty (30) days after notice has been given to it by Mayan specifying with particularity the nature of the default, then upon the expiration of the 30-day period, all rights of Endeavor under this Agreement, except as provided in Section 17, 2.5 shall terminate, and all liabilities and obligations of Endeavor of survive any kind, character, or description (except as provided in Section 18), including any liability for any payments under Sections 8 and 9 then not due or accrued, shall terminate; provided, however, that if the default cannot reasonably be corrected within thirty (30) days then Endeavor shall have a reasonable amount of time in which to correct the default. If Endeavor by notice to Mayan disputes the existence of a default that is based on any obligation other than an obligation to pay money, then this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). If Endeavor by notice to Mayan disputes the existence of a default that is based on an obligation to pay money, then Endeavor shall be obligated to pay to Mayan within thirty (30) days after receipt of said notice the amount of money that Endeavor in its good faith determination considers to be undisputed, and this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists as to the disputed amount and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). Neither the service of any notice nor the performance of any acts by Endeavor intended to meet any alleged default shall be deemed an admission or presumption that Endeavor has failed to perform all of its obligations under this Agreement. Lessor shall not be entitled to terminate this Agreement for any default that by its nature is not retroactively curable if Endeavor has used its best efforts to cure such a default to the extent practical or if Endeavor has paid Mayan damages for such default where damages are an appropriate remedy. Lessor shall have no right to terminate this Agreement except as expressly provided in this Section. Notwithstanding the foregoing provisions termination of this Section, this Agreement may not be terminated, in whole or in part, by less than all the individuals and/or entities included within the term “LessorLease.

Appears in 1 contract

Samples: Ground Lease (Silicon Graphics Inc /Ca/)

Termination and Surrender. Tenant shall, upon the expiration or sooner termination of the Term hereof: (ai) If Endeavor peaceably and quietly leave, surrender and yield up to the Landlord the Premises, free of subtenancies, broom clean and in the same good order and condition as when received except for reasonable wear and tear, fire or other casualty, (ii) surrender any keys, electronic ID cards, and other access devices to Landlord at the place then fixed for the payment of rent, (iii) deliver the Premises to Landlord free of any and all Hazardous Materials present on the Premises in violation of Tenant's covenants or obligations under Section 6.9 so that the condition of the Premises conforms with all applicable Environmental Regulations, (iv) at its expense, remove from the Premises all movable trade fixtures, furniture, equipment and other personal property (collectively, "Tenant's Property") as well as any alterations or improvements which Tenant is required to remove pursuant to the terms of this Lease, (v) at its expense, remove from the Premises any alterations or improvements which Landlord designates for removal in accordance with Landlord's rights to so designate pursuant to the terms of this Lease (including but not limited to the terms of Sections 6.3, 15.25 and 15.26), and (vi) at its expense, promptly repair any damage caused by such removal. Any of Tenant's Property which are not so removed may, at the Landlord's election and without limiting Landlord's right to compel removal thereof, shall be stored by Landlord at Tenant's expense, for not less than thirty (30) days, and thereafter shall be deemed abandoned and may be retained by Landlord as its property or be disposed of at Tenant's sole cost and expense, without accountability, in such manner as Landlord may see fit. In the event the Tenant fails to comply with any of the provisions of this AgreementSection 6.11: (i) Tenant shall, at the option of the Landlord, be deemed to occupy the Premises after the expiration or earlier termination of the Term or any renewal thereof, and if Endeavor does be subject to the holdover provisions of this Lease, and (ii) Tenant shall indemnify and hold Landlord harmless from and against any costs incurred by Landlord in connection with Tenant's failure to comply with such provisions (including but not initiate limited to the cost of performing Tenant's obligations hereunder). All installments, alterations, additions, betterments and diligently pursue steps improvements to correct such default within thirty the Premises made by Tenant, including, without limitation, all wiring, paneling, partitions, floor coverings, lighting fixtures, and the like (30) days after notice has been given to it by Mayan specifying other than Tenant's Property), shall become the property of Landlord when installed and shall remain upon and be surrendered with particularity the nature Leased Premises as a part thereof at the expiration or sooner termination of the defaultTerm, then upon except that: (1) subject to the expiration terms of Section 6.3, Landlord shall have the 30-day periodright, all rights by notice to Tenant (which notice shall be provided to Tenant at the time of Endeavor Landlord's approval of any alteration or improvements as required under this Agreementthe terms hereof, provided that Tenant timely and properly obtains such consent), to require Tenant, at its expense, to remove any alterations, additions and improvements (other than the Improvements, except as provided in Section 17, shall terminate6.3) in the Premises, and all liabilities to repair any damage caused by such removal, and (2) Tenant shall comply with its obligations of Endeavor set forth in Exhibit C hereto with respect to the removal of any kind, character, or description (except as provided in Section 18), including any liability for any payments under Sections 8 and 9 then not due or accrued, shall terminate; provided, however, that if the default cannot reasonably be corrected within thirty (30) days then Endeavor shall have a reasonable amount of time in which to correct the defaultinternal staircases. If Endeavor by notice to Mayan disputes the existence of a default that is based on any obligation other than an obligation to pay money, then this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). If Endeavor by notice to Mayan disputes the existence of a default that is based on an obligation to pay money, then Endeavor shall be obligated to pay to Mayan within thirty (30) days after receipt of said notice the amount of money that Endeavor in its good faith determination considers to be undisputed, and this Agreement shall not terminate hereunder until there is a final judgment by a court of competent jurisdiction that a default exists as to the disputed amount and shall not be terminated thereafter if Endeavor shall satisfy such judgment within thirty (30) days following its entry (or if an appeal of such judgment is taken, following its affirmance by the highest court to which such an appeal is made). Neither the service of any notice nor the performance of any acts by Endeavor intended to meet any alleged default shall be deemed an admission or presumption that Endeavor has failed to perform all of its obligations under this Agreement. Lessor shall not be entitled to terminate this Agreement for any default that by its nature is not retroactively curable if Endeavor has used its best efforts to cure such a default to the extent practical or if Endeavor has paid Mayan damages for such default where damages are an appropriate remedy. Lessor shall have no right to terminate this Agreement except as expressly provided in this Section. Notwithstanding the foregoing The provisions of this Section, Section 6.11 shall survive any expiration or termination of this Agreement may not be terminated, in whole or in part, by less than all the individuals and/or entities included within the term “LessorLease.

Appears in 1 contract

Samples: Microstrategy Inc

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