Examples of Level 1 Tenant Default in a sentence
So long as no Level 1 Tenant Default has occurred and is continuing, in the event Landlord fails to pay to Tenant any amounts due to Tenant pursuant to subsections (i), (ii), (iii), (iv), or (v), above, within ten (10) Business Days after written demand from Tenant, Tenant may offset such delinquent amounts, including interest thereon at the Default Interest Rate, from Base Rent otherwise due and owing by Tenant, whether previously or thereafter due and owing.
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Following the occurrence and during the continuance of a Level 1 Tenant Default only, Landlord shall have, with respect to each such Xxxxx 0 Xxxxxx Xxxxxxx either, but not both, of the rights and remedies specified in subsection (i) and subsection (ii), below.
In the event that Landlord elects NOT to exercise its remedies under subsection (i) above with respect to a Xxxxx 0 Xxxxxx Xxxxxxx, and in lieu of its remedies under subsection (i), above, upon the occurrence and during the continuance of a Level 1 Tenant Default, Landlord may exercise any or all of its rights or remedies under subsection (b), below, with respect to such Xxxxx 0 Xxxxxx Xxxxxxx.
In the event that Landlord elects NOT to exercise its remedies under subsection (i) above with respect to a Lxxxx 0 Xxxxxx Xxxxxxx, and in lieu of its remedies under subsection (i), above, upon the occurrence and during the continuance of a Level 1 Tenant Default, Landlord may exercise any or all of its rights or remedies under subsection (b), below, with respect to such Lxxxx 0 Xxxxxx Xxxxxxx.
For the avoidance of doubt, if this Lease is terminated by Landlord pursuant to Section 23.2(a)(i) as a result of a Level 1 Tenant Default or if a Xxxxx 0 Xxxxxx Xxxxxxx has occurred and is continuing, the provisions of this Section 25.4 shall not apply and Landlord may consummate a Landlord Lease Transaction without complying with the terms and conditions of this Section 25.4 .
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In the event that Landlord elects NOT to exercise its remedies under subsection (i) above with respect to a Xxxxx 0 Xxxxxx Xxxxxxx, and in lieu of its remedies under subsection (i) , above, upon the occurrence and during the continuance of a Level 1 Tenant Default, Landlord may exercise any or all of its rights or remedies under subsection (b) , below, with respect to such Xxxxx 0 Xxxxxx Xxxxxxx.
Then, according to the previous comment, if the well- balancedness condition holds, all the labels should be represented by TFNs collapsing to real num- bers, i.e., ai = bi = ci = di.
So long as no Level 1 Tenant Default has occurred and is continuing, in the event Landlord fails to pay to Tenant any amounts due to Tenant pursuant to subsections (i) , (ii) , (iii) , (iv) , or (v) , above, within ten (10) Business Days after written demand from Tenant, Tenant may offset such delinquent amounts, including interest thereon at the Default Interest Rate, from Base Rent otherwise due and owing by Tenant, whether previously or thereafter due and owing.