Common use of Landlord Default Clause in Contracts

Landlord Default. In the event of any default by Landlord under this Lease ("Landlord Default"), Tenant may give Landlord written notice specifying such Landlord Default and, if Tenant shall do so, then Landlord shall have 30 days in which to cure any such Landlord Default; provided, however, that if the nature of the Landlord Default is such that more than 30 days are required for its cure, then Landlord shall not be in default if Landlord commences to cure within said 30 days and thereafter diligently prosecutes the same to completion within a reasonable time thereafter. In the event that Landlord shall remain in default following its said right to cure, then, in addition to all other rights and remedies available to Tenant at law and in equity, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 days of receipt of Tenant's demand therefor and reasonable evidence of the cost of the same. If Landlord shall fail to pay within said 30 day period, Tenant may deduct the entire cost from any Fixed Rent, Additional Rent and other charges due hereunder. In the event of a Landlord Default, Tenant shall mitigate damages and/or loss. Such obligation shall survive the Term.

Appears in 4 contracts

Samples: Lease (TBS International PLC), Lease ( (TBS International LTD), Lease ( (TBS International LTD)

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Landlord Default. In the event of any default by Landlord under this Lease ("Landlord Default"), Tenant may give Landlord written notice specifying such Landlord Default and, if Tenant shall do so, then Landlord shall have 30 thirty (30) days in which to cure any such Landlord Default; provided, however, that if the nature of the Landlord Default is such that more than 30 thirty (30) days are required for its cure, then Landlord shall not be in default if Landlord commences to cure within said 30 thirty (30) days and thereafter diligently prosecutes the same to completion within a reasonable time thereaftercompletion. In the event that Landlord shall remain in default following its said right to cure, then, in addition to all any other rights and remedies to damages or specific performance available to Tenant at law and in equityTenant, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 thirty (30) days of receipt of Tenant's demand therefor and reasonable evidence of the cost of the same. If Landlord shall fail to pay within said 30 day period; provided, however, Tenant may shall have no right to terminate this Lease as a result of a Landlord Default, or deduct any of the entire cost from any Fixed Rent, Additional Rent and Rent, or other charges due hereunder. In the event of a Landlord Default, Tenant shall mitigate damages and/or loss. Such obligation shall survive the Term.

Appears in 1 contract

Samples: Certificate and Agreement (American Realty Capital Trust, Inc.)

Landlord Default. In the event of an alleged default on the part of Landlord ---------------- under this Lease, Tenant shall give notice to Landlord and shall afford Landlord a reasonable opportunity to cure the default. Notice to Landlord of any such alleged default shall be ineffective unless notice is simultaneously delivered to any Mortgagee as hereafter provided. Tenant agrees to give all Mortgagees, by certified mail, return receipt requested, a copy of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified, in writing (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of such Mortgagee. Tenant further agrees that if Landlord shall have failed to cure the default within the time provided, then the Mortgagee shall have an additional 30 days following a second notice from Tenant within which to cure the default. If the default cannot be cured within that time, Mortgagee shall have such additional time as may be necessary provided that within the 30 days, Mortgagee has commenced and is diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary, to effect its cure). Tenant may be entitled to equitable relief and actual damages, but not consequential or punitive damages, incurred by Tenant as a result of any default by Landlord under this Lease ("Landlord Default")Landlord, Tenant may give Landlord written notice specifying such Landlord Default and, if Tenant shall do so, then Landlord shall have 30 days in which to cure any such Landlord Default; provided, however, that if the nature of the Landlord Default is such that more than 30 days are required for its cure, then Landlord but shall not be in default if Landlord commences entitled to cure within said 30 days and thereafter diligently prosecutes the same any abatement of or offset against Rent until it receives a final judgment authorizing it to completion within a reasonable time thereafter. In the event that Landlord shall remain in default following its said right to cure, then, in addition to all other rights and remedies available to Tenant at law and in equity, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 days of receipt of Tenant's demand therefor and reasonable evidence of the cost of the same. If Landlord shall fail to pay within said 30 day period, Tenant may deduct the entire cost from any Fixed Rent, Additional Rent and other charges due hereunder. In the event of a Landlord Default, Tenant shall mitigate damages and/or loss. Such obligation shall survive the Termdo so.

Appears in 1 contract

Samples: Office Lease (Firstworld Communications Inc)

Landlord Default. In If at any time or times Landlord shall be in default in the event performance or observance of any default by Landlord under of its covenants, agreements or undertakings provided in this Lease ("Landlord Default")Lease, Tenant may give Landlord written notice specifying such Landlord Default and, and if Tenant shall do so, then Landlord shall have 30 days in which to cure any such Landlord Default; provided, however, that if the nature of the Landlord Default is such that more than 30 days are required for its cure, then Landlord shall not cure or remedy such default within thirty (30) days after Tenant gives written notice thereof to Landlord, or, if such default cannot reasonably be in default cured and remedied within thirty (30) days, if Landlord commences shall not commence in good faith to cure and remedy such default within said 30 thirty (30) days after receipt of such notice from Tenant and thereafter diligently prosecutes the same continue with due diligence until such default is cured and remedied, then Tenant may, but shall not be obligated to, take such action as in Tenant's good faith judgment is reasonably appropriate to completion within a reasonable time thereafter. In the event that Landlord shall remain in cure and remedy such default following its said right to cure, then, in addition to all other rights and remedies available to Tenant at law and in equity, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary paymentsLandlord, and billing Landlord for the reasonable costs thereofshall, which Landlord agrees to within forty-five (45) days after receipt of demand therefor, pay to Tenant within 30 days of receipt of Tenant's demand therefor an amount equal to all reasonable costs and reasonable evidence of the cost of the sameexpenses incurred by Tenant in so curing and remedying such default. If Landlord shall fail fails to pay Tenant within said 30 the 45-day period, Tenant may deduct shall only be permitted to offset the entire cost amount due against Base Rent after obtaining a final, unappealable decision in its favor from an adjudicatory body. If Landlord commits a default which has not been cured after any Fixed Rent, Additional Rent applicable notice and other charges due hereunder. In the event of a Landlord Defaultcure period, Tenant shall mitigate damages and/or lossmay pursue any remedies given in this Lease or under the law. Such obligation shall survive Tenant is entitled to recover its reasonable and actual legal fees if the Termcourt or other adjudicative body agrees that the Landlord was wrong in refusing to reimburse Tenant for an amount demanded.

Appears in 1 contract

Samples: Agreement of Lease (Griffin Capital Essential Asset REIT II, Inc.)

Landlord Default. In the event of any default by that Landlord fails to perform its obligations under this Lease ("Landlord Default")Lease, Tenant may give Landlord written notice specifying of such Landlord Default and, if Tenant shall do so, then Landlord shall have 30 days failure setting forth in which to cure any such Landlord Default; provided, however, that if reasonable detail the nature and extent of the Landlord Default is such that more than 30 days are required for its cure, then Landlord shall not be in default failure and if Landlord commences to does not complete such cure within said 30 thirty (30) days and thereafter diligently prosecutes the same to completion within a reasonable time thereafter. In the event that Landlord shall remain in default following its said right to cure, then, in addition to all other rights and remedies available to Tenant at law and in equity, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 days of after receipt of Tenant's demand therefor and reasonable evidence ’s notice (or if such cure is not capable of the cost of the same. If Landlord shall fail to pay being cured within said such 30 day period, if Landlord does not commence to cure within such 30-day period or if Landlord thereafter fails to continuously and diligently pursue such cure to completion), Tenant may deduct commence to cure Landlord’s failure (including without limitation Landlord’s failure to pay any amount due under this Lease), in which event Landlord shall reimburse Tenant within thirty (30) days after receipt of Tenant’s reasonably itemized bxxx in the entire cost from amount of all reasonable out-of-pocket costs and expenses incurred by Tenant in so curing said failure, which bxxx shall be accompanied by reasonable proof that Tenant has paid the sums sought to be reimbursed; failing which Tenant shall have the right to setoff any Fixed Rent, Additional outstanding amounts against Rent and other charges due hereunder. In Notwithstanding the foregoing, in the event that Tenant’s cure of a any such failure by Landlord Defaultis reasonably necessary to protect the Premises or to prevent injury or damage to persons or property, Tenant may proceed to cure prior to the expiration of such 30-day period upon giving two (2) days prior written notice to Landlord. With respect to any such cure by Tenant, the extent of the work performed by Tenant in curing such default shall mitigate damages and/or loss. Such obligation not exceed the work that is reasonably necessary to effectuate such remedy and the cost of such work shall survive be reasonably prudent and economical under the Termcircumstances.

Appears in 1 contract

Samples: Lease (Erytech Pharma S.A.)

Landlord Default. In the event of any default by Landlord under this Lease ("Landlord Default"), Tenant may give Landlord written notice specifying such Landlord Default and, if Tenant shall do so, then Landlord shall have 30 days in which to cure any such Landlord Default; provided, however, that if the nature of the Landlord Default is such that more than 30 days are required for its cure, then Landlord shall not be in default if Landlord commences to cure within said 30 days and thereafter diligently prosecutes the same to completion within a reasonable time thereaftercompletion. In the event that Landlord shall remain in default following its said right to cure, then, in addition to all other rights and remedies available to Tenant at law and in equity, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 days of receipt of Tenant's demand therefor and reasonable evidence of the cost of the same. If Landlord shall fail to pay within said 30 day period, Tenant may deduct the entire cost from any Fixed Rent, Additional Rent rent and other charges due hereunder. In the event of a Landlord Default, Tenant shall mitigate damages and/or loss. Such obligation shall survive the Term.

Appears in 1 contract

Samples: Lease (Cardionet Inc)

Landlord Default. In Without limiting its other rights set forth in the event of any default by Landlord under this Lease ("Landlord Default"), Tenant may give Landlord written notice specifying such Landlord Default andLease, if Tenant shall do so, then Landlord shall have failed to perform any term, covenant, or condition of the Lease and Landlord shall have failed to cure such breach within 30 days in which to cure any such Landlord Default; provided, however, that if after written notice from Tenant specifying the nature of the Landlord Default is such that more than 30 days are required for its cure, then Landlord shall not breach where such breach could reasonably be in default if Landlord commences to cure within said 30 days and thereafter diligently prosecutes the same to completion within a reasonable time thereafter. In the event that Landlord shall remain in default following its said right to cure, then, in addition to all other rights and remedies available to Tenant at law and in equity, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 days of receipt of Tenant's demand therefor and reasonable evidence of the cost of the same. If Landlord shall fail to pay cured within said 30 day period, Tenant may deduct the entire cost from any Fixed Rentor if such breach could not be reasonably cured within said 30 day period, Additional Rent Landlord shall have failed to commence such cure within said 30 day period and other charges thereafter continue with due hereunder. In the event of a Landlord Defaultdiligence to prosecute such cure to completion within such time period as is reasonably needed, Tenant shall mitigate damages and/or losshave the right to pursue legal remedies for damages. Such obligation At Tenant’s option before pursuing a damage remedy, Tenant may give Landlord a second notice after the time for performance of the initial notice has run out, in which Tenant shall survive notify Landlord that it intends to use self-help to cure Landlord’s failure to perform identified in the Terminitial notice, shall specify what it is that Tenant proposes to do to cure the failure to perform, and states the cost thereof. Tenant shall have the right to perform such self help to cure Landlord’s failure to perform if Landlord fails to perform within fifteen (15) days after said second notice (or if Landlord’s failure to perform cannot reasonably be cured within said 15 day period, Landlord shall have failed to commence such cure within said 15 day period and thereafter continue with due diligence to prosecute such cure to completion within such time period as is reasonably needed, not to exceed a further thirty (30) days.

Appears in 1 contract

Samples: Lease (Proxim Wireless Corp)

Landlord Default. In (a) Landlord shall have a period of thirty (30) days from the event date of written notice from Tenant within which to cure any default by Landlord under this Lease ("Landlord Default"), Tenant may give Landlord written notice specifying such Landlord Default and, if Tenant shall do so, then Landlord shall have 30 days in which to cure any such Landlord DefaultFacility Lease; provided, however, that if with respect to any default that cannot reasonably be cured within thirty (30) days, the nature of the Landlord Default is such that more than 30 days are required for its cure, then Landlord default shall not be in default deemed to be uncured if Landlord commences to cure within said 30 thirty (30) days from Tenant’s notice and thereafter continues to prosecute diligently prosecutes the same curing thereof. Tenant agrees to completion within give any Mortgagee, by registered or certified mail, a reasonable time thereaftercopy of any notice of default served upon the Landlord, provided that prior to such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of such Mortgagee. In the event Tenant further agrees that if Landlord shall remain in default following its said right have failed to cure, then, in addition to all other rights and remedies available to Tenant at law and in equity, Tenant may cure such default within the time provided for in this Facility Lease, then the Mortgagee shall have an additional thirty (30) days (provided that Tenant notifies Mortgagee concurrently with Tenant’s notice to Landlord Default on behalf at the beginning of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 days of receipt of Tenant's demand therefor and reasonable evidence of the cost of the same. If Landlord shall fail to pay within said 30 Landlord’s thirty (30) day period; otherwise Mortgagee shall have sixty (60) days from the date on which it is noticed) within which to cure such default or if such default cannot be cured within that time, Tenant then the cure period shall be extended for such additional time as may deduct be necessary to cure such default if within such applicable period Mortgagee has commenced and continues to prosecute diligently the entire cost from any Fixed Rentcure of such default (including, Additional Rent and other charges due hereunderbut not limited to, commencement of foreclosure proceedings, if necessary to effect such cure). In the event of a Landlord Default, Tenant shall mitigate damages and/or loss. Such obligation shall survive the Term.DRAFT

Appears in 1 contract

Samples: Facility Lease Agreement

Landlord Default. In the event Landlord’s failure to perform or observe any of its Lease obligations within ten (10) days after Landlord receives written notice from Tenant that any such performance or observance is past due is a default by Landlord under this Lease ("Landlord Default"), Tenant may give Landlord written notice specifying such . If the Landlord Default andcannot be cured within such ten (10) days, if Tenant shall do so, then Landlord shall have 30 days not be in which default of this Lease if Landlord commences to cure any the Landlord Default within such ten (10) day period and diligently continues to cure such Landlord Default; provided, however, that if the nature of the such Landlord Default must be cured on or before the one hundred twentieth (120th) day after Landlord receives such written notice from Tenant. If Tenant brings suit against Landlord for any breach by Landlord of any of its obligations hereunder, and such a breach is such that more than 30 days are required for its curedetermined to have occurred, then Landlord shall not be pay Tenant all reasonable costs and expenses incurred by Tenant with respect thereto, including, without limitation, all reasonable attorney’s fees. If Landlord is in default if Landlord commences to cure within said 30 days and thereafter diligently prosecutes the same to completion within a reasonable time thereafter. In the event that Landlord shall remain in default following its said right to cure, then, in addition to all other rights and remedies available to Tenant at law and in equityunder this Lease, Tenant may may, without being obligated and without waiving such Landlord Default, cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 days of receipt of Tenant's demand therefor and reasonable evidence of the cost of the sameDefault. If Landlord shall fail to pay within said 30 day period, Tenant may deduct enter the entire cost from any Fixed Rent, Additional Rent and other charges due hereunder. In the event of a Premises or Project to cure such Landlord Default, and Landlord shall pay Tenant, immediately on demand, all reasonable costs, expenses and disbursements incurred by Tenant shall mitigate damages and/or loss. Such obligation shall survive the Termto cure such Landlord Default.

Appears in 1 contract

Samples: Commercial Lease (Gc Net Lease Reit, Inc.)

Landlord Default. In If Landlord shall default in the performance of any of its obligations hereunder, or if Landlord shall fail to make any payment which Landlord agrees to make hereunder, then Tenant, without being obligated to and without waiving such default, shall have the following remedies which shall be cumulative and shall be in addition to those remedies which Tenant may have at law or in equity. If Tenant provides written notice to Landlord (and any mortgagee of which Tenant has been notified) of any default of Landlord hereunder, and Landlord (or such mortgagee) shall fail to cure such default within thirty (30) days following the receipt of such notice (or as soon as possible under all of the circumstances in the event of any default by Landlord under this Lease ("Landlord Default"an emergency), Tenant may give Landlord written notice specifying perform such Landlord Default andobligation, if Tenant shall do soor pay any sums due to any third party, then Landlord shall have 30 days in which to cure any such Landlord Defaultas Landlord's agent; provided, however, that if the nature of the Landlord Default is such that more than 30 days are required for its curedefault cannot reasonably be cured within such thirty (30) day period, then Landlord shall not be in default if Landlord (or such mortgagee) promptly commences to the cure within said 30 days of such default and thereafter diligently prosecutes the same pursues such cure to completion within a reasonable time thereafterthereafter not to exceed one hundred twenty (120) days total. In The full reasonable amount of the event that costs and expenses incurred by Tenant to perform such obligation or make such payment, together with reasonable attorney's fee incurred by Tenant, shall be paid by Landlord shall remain in default following its said right to cure, then, in addition to all other rights and remedies available to Tenant at law and in equity, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 thirty (30) days after presentation of receipt of Tenant's demand invoices therefor and reasonable evidence of the cost of the same. If to Landlord; provided, if Landlord shall fail fails to pay such amount within said 30 such 30-day period, Tenant may deduct shall have the entire cost from any Fixed Rent, right to offset such unpaid amounts against the next installment(s) of Additional Rent due and other charges due payable hereunder. In the event of a Landlord Default, Tenant shall mitigate damages and/or loss. Such obligation shall survive the Term.

Appears in 1 contract

Samples: Office Reference (Strongbridge Biopharma PLC)

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Landlord Default. In the event of any default by Landlord under this Lease ("Landlord Default"), Tenant may give Landlord written notice specifying such Landlord Default and, if Tenant shall do so, then Landlord shall have 30 days in which to cure any such Landlord Default; provided, however, that if the nature of the Landlord Default is such that more than 30 days are required for its cure, then Landlord shall not be in default unless Landlord fails to comply with any term, provision, or covenant of this Lease and such failure is not cured within thirty (30) days after written notice thereof to Landlord stating the nature of the default and the time period applicable to its cure, or, if Landlord’s failure to comply with any term, provision or covenant under this Lease materially interferes with Tenant’s business operations, then within ten (10) business days after such written notice thereof to Landlord (with such notice specifying the shorter time period and the reasons therefor) (the thirty-day period and the ten business day period being each being a “Landlord Default Notice Period”); provided that if the nature of such cure is such that a longer cure period is necessary, Landlord shall only be in default if Landlord commences shall have failed to commence such cure within said 30 days Landlord Default Notice Period and thereafter to have diligently prosecutes prosecuted such cure to completion. Notwithstanding the same to completion within a reasonable time thereafter. In foregoing, in the event that Landlord shall remain in default following its said right fails to curemake any payment, then, in addition to all other rights as and remedies available to Tenant at law and in equity, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereofwhen due, which payment is required to be made by Landlord agrees to pay to Tenant within 30 in accordance with the terms of Exhibit C and which payment remains unpaid more than thirty (30) days of receipt of Tenant's demand therefor and reasonable evidence of the cost of the same. If Landlord shall fail to pay within said 30 day period, Tenant may deduct the entire cost from any Fixed Rent, Additional Rent and other charges due hereunder. In the event of a Landlord Defaultafter an arbitration award for such payment, Tenant shall mitigate damages and/or losshave the right to set off against Base Rent due under this Lease such amount owed and not paid by Landlord. Such obligation If Tenant offsets Base Rent, Tenant shall survive the Termcontemporaneously deliver to Landlord evidence of such offset.

Appears in 1 contract

Samples: Office Lease (Tableau Software Inc)

Landlord Default. In the event of an alleged default on the part of Landlord under this Lease, Tenant shall give notice to Landlord and shall afford Landlord a reasonable opportunity to cure the default. Notice to Landlord of any such alleged default shall be ineffective unless notice is simultaneously delivered to any Mortgagee as hereafter provided. Tenant agrees to give all Mortgagees, by certified mail, return receipt requested, a copy of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified, in writing (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of such Mortgagee. Tenant further agrees that if Landlord shall have failed to cure the default within the time provided, then the Mortgagee shall have an additional 30 days following a second notice from Tenant within which to cure the default. If the default cannot be cured within that time, Mortgagee shall have such additional time as may be necessary provided that within the 30 days, Mortgagee has commenced and is diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary, to effect its cure). Tenant may be entitled to equitable relief and actual damages, but not consequential or punitive damages, incurred by Tenant as a result of any default by Landlord under this Lease ("Landlord Default")Landlord, Tenant may give Landlord written notice specifying such Landlord Default and, if Tenant shall do so, then Landlord shall have 30 days in which to cure any such Landlord Default; provided, however, that if the nature of the Landlord Default is such that more than 30 days are required for its cure, then Landlord but shall not be in default if Landlord commences entitled to cure within said 30 days and thereafter diligently prosecutes the same any abatement of or offset against Rent until it receives a final judgment authorizing it to completion within a reasonable time thereafter. In the event that Landlord shall remain in default following its said right to cure, then, in addition to all other rights and remedies available to Tenant at law and in equity, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 days of receipt of Tenant's demand therefor and reasonable evidence of the cost of the same. If Landlord shall fail to pay within said 30 day period, Tenant may deduct the entire cost from any Fixed Rent, Additional Rent and other charges due hereunder. In the event of a Landlord Default, Tenant shall mitigate damages and/or loss. Such obligation shall survive the Termdo so.

Appears in 1 contract

Samples: Office Lease (Esoft Inc)

Landlord Default. In Landlord shall not be in default unless it fails to perform the event obligations required of any default it by Landlord under this Lease within thirty ("Landlord Default"), Tenant may give Landlord 30) days after written notice from Tenant specifying such which obligation Landlord Default and, if Tenant shall do so, then Landlord shall have 30 days in which has failed to cure any such Landlord Default; providedperform. Provided, however, that if the nature of the Landlord Default specified obligation is such that more than 30 thirty (30) days are reasonably required for to complete its cure, then Landlord shall not be in default if Landlord it commences to cure within said 30 days thirty (30) day period and thereafter diligently prosecutes the same to completion within completion. As to Landlord’s maintenance and repair obligations hereunder, if Landlord has not cured or commenced to cure a reasonable time thereafter. In the event that Landlord shall remain maintenance or repair default set forth in default following its said right to cure, then, in addition to all other rights and remedies available to Tenant at law and in equity, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 days of receipt of Tenant's demand therefor and reasonable evidence of the cost of the same. If Landlord shall fail to pay notice within said 30 thirty (30) day period, Tenant, may, at its option, cure such default. If Tenant may deduct the entire cost from any Fixed Rent, Additional Rent and other charges due hereunder. In the event of a Landlord Defaultelects to cure said default, Tenant shall, prior to commencement of said work, provide to Landlord a specific description of the work to be performed by Tenant and the name of Tenant’s contractor. Any materials used shall mitigate damages and/or lossbe of equal or better quality than currently exists in the Building and Tenant’s contractor shall be adequately insured and of good reputation. Such obligation Landlord shall survive reimburse Tenant for the Termreasonable, actual cost of said cure upon receipt of adequate bills or other supporting evidence substantiating said cost, less any amounts otherwise reimbursable to Tenant under any insurance policies carried by Tenant.

Appears in 1 contract

Samples: Industrial Lease Agreement (Tandy Brands Accessories Inc)

Landlord Default. In Landlord shall not be in default unless it fails to perform the event obligations required of any default it by Landlord under this Lease within thirty ("Landlord Default"), Tenant may give Landlord 30) days after written notice from Tenant specifying such which obligation Landlord Default and, if Tenant shall do so, then Landlord shall have 30 days in which has failed to cure any such Landlord Default; providedperform. Provided, however, that if the nature of the Landlord Default specified obligation is such that more than 30 thirty (30) days are reasonably required for to complete its cure, then Landlord shall not be in default if Landlord it commences to cure within said 30 days thirty (30) day period and thereafter diligently prosecutes the same to completion completion. As to Landlord's maintenance and repair obligations hereunder, if Landlord has not cured or commenced to cure a maintenance or repair default set forth in said notice within a reasonable time thereafter. In the event that Landlord shall remain in default following said thirty (30) day period, Tenant, may, at its said right to cureoption, then, in addition to all other rights and remedies available to Tenant at law and in equity, Tenant may cure such default. If Tenant elects to cure said default Tenant shall, prior to commencement of said work, provide to Landlord Default on behalf a specific description of Landlord the work to be performed by doing Tenant and the necessary work and/or making the necessary payments, and billing Landlord for the reasonable costs thereof, which Landlord agrees to pay to Tenant within 30 days of receipt name of Tenant's demand therefor contractor. Any materials used shall be of equal or better quality than currently exists in the Building and reasonable evidence Tenant's contractor shall be adequately insured and of good reputation. Landlord shall reimburse Tenant for the reasonable, actual cost of the same. If Landlord shall fail said cure upon receipt of adequate bills or other supporting evidence substantiating said cost less any amounts otherwise reimbursable to pay within said 30 day period, Tenant may deduct the entire cost from under any Fixed Rent, Additional Rent and other charges due hereunder. In the event of a Landlord Default, Tenant shall mitigate damages and/or loss. Such obligation shall survive the Terminsurance policies carried by Tenant.

Appears in 1 contract

Samples: Industrial Lease Agreement (Cortelco Systems Inc)

Landlord Default. In the event of any default The following shall be deemed a “Landlord Default” by Landlord under hereunder and a material breach of this Lease: If Landlord fails to keep, perform or observe any of the covenants, agreements, terms or provisions, warranties or representations contained in this Lease that are to be kept or performed by Landlord and Landlord fails to cure such default within thirty ("30) days after receiving notice from Tenant thereof (or, if same cannot reasonably be cured within thirty (30) days, if Landlord Default"shall fail to commence such cure within thirty (30) days following Tenant’s notice and diligently prosecute said cure to completion). If a Landlord Default occurs, Tenant may give Landlord written notice specifying such Landlord Default andmay, if Tenant shall do so, then Landlord shall have 30 days in which at any time thereafter prior to cure the curing thereof and without waiving any such Landlord Default; provided, however, that if the nature of the Landlord Default is such that more than 30 days are required for its cure, then Landlord shall not be in default if Landlord commences to cure within said 30 days and thereafter diligently prosecutes the same to completion within a reasonable time thereafter. In the event that Landlord shall remain in default following its said right to cure, then, in addition to all other rights and remedies hereunder or available to Tenant at law or in equity (Tenant’s rights being cumulative), do any one or more of the following: (A) perform Landlord’s obligations hereunder and in equity, Tenant may cure such Landlord Default on behalf of Landlord by doing the necessary work and/or making the necessary payments, and billing Landlord for offset the reasonable costs thereof, and expenses incurred by Tenant in doing so against Base Rent thereafter coming due hereunder to the extent Landlord fails to reimburse such reasonable costs within thirty (30) days following written demand (provided in no event shall Tenant be permitted to offset more than twenty percent [20%] of Base Rent in any given month); or (B) bring suit for the collection of any amounts for which Landlord agrees to pay to Tenant within 30 days is in default, seek injunctive relief, or seek specific performance for any other covenant or agreement of receipt of Tenant's demand therefor and reasonable evidence of the cost of the same. If Landlord shall fail to pay within said 30 day periodLandlord, Tenant may deduct the entire cost from any Fixed Rent, Additional Rent and other charges due hereunder. In the event of a Landlord Default, Tenant shall mitigate damages and/or loss. Such obligation shall survive the Termwithout terminating this Lease.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Texas Roadhouse, Inc.)

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