Common use of Landlord’s Default and Tenant’s Remedies Clause in Contracts

Landlord’s Default and Tenant’s Remedies. In the event Landlord fails to perform its obligations under this Lease, Landlord shall nevertheless not be in default under the terms of this Lease until such time as Tenant shall have first given Landlord written notice specifying the nature of such failure to perform its obligations, and then only after Landlord shall have had thirty (30) days following its receipt of such notice within which to perform such obligations; provided that, Landlord shall use diligence to cure such failure as soon as reasonably practicable; and provided, further, that if longer than thirty (30) days is reasonably required in order to perform such obligations, Landlord shall have such longer period. In the event of Landlord’s default as above set forth, then, and only then, Tenant may then proceed in equity or at law to compel Landlord to perform its obligations and/or to recover damages proximately caused by such failure to perform (except as and to the extent Tenant has waived its right to damages as provided in this Lease). In addition, in the event that any entity not controlling, controlled by or under common control with iStar Financial Inc. succeeds to Landlord’s rights and obligations under this Lease, and such successor Landlord defaults beyond the notice and cure period as above set forth, then, and only then, Tenant may perform such obligations at such successor Landlord’s cost, in which event such successor Landlord shall promptly reimburse Tenant for the amount of such costs reasonably and actually incurred by Tenant (unless Tenant would have been responsible to pay such costs as Additional Rent had Landlord performed such obligations).

Landlord’s Default and Tenant’s Remedies. In the event Landlord fails to perform its obligations under this Lease, Landlord shall nevertheless not be in default under the terms of this Lease until such time as Tenant shall have first given Landlord written notice specifying the nature of such failure to perform its obligations, and then only after Landlord shall have had thirty (30) days following its receipt of such notice within which to perform such obligations; provided that, Landlord shall use diligence to cure such failure as soon as reasonably practicable; and provided, further, that if longer than thirty (30) days is reasonably required in order to perform such obligations, Landlord shall have such reasonably longer periodperiod provided that the Landlord is proceeding with due diligence to perform such obligations. In the event of Landlord’s 's default as above set forth, then, and only then, Tenant may then (i) proceed in equity or at law to compel Landlord to perform its obligations and/or to recover damages proximately caused by such failure to perform (except as and to the extent Tenant has waived its right to damages as provided in this Lease). In addition, in the event that any entity not controlling, controlled by ) or under common control with iStar Financial Inc. succeeds to Landlord’s rights and obligations under this Lease, and such successor Landlord defaults beyond the notice and cure period as above set forth, then, and only then, Tenant may (ii) perform such obligations on behalf of Landlord and then proceed at such successor law to recover damages proximately caused by Landlord’s cost, in which event such successor Landlord shall promptly reimburse Tenant for the amount 's failure to perform and Tenant's subsequent performance of such costs reasonably obligations (except as and actually incurred by to the extent Tenant (unless Tenant would have been responsible has waived its right to pay such costs damages as Additional Rent had Landlord performed such obligationsprovided in this Lease).

Landlord’s Default and Tenant’s Remedies. In Landlord shall be in default if it fails to perform any term, condition, covenant or obligation required under this Lease for a period of thirty (30) days after written notice thereof from Tenant to Landlord; provided, however, that if the term, condition, covenant or obligation to be performed by Landlord is such that it cannot reasonably be, performed within thirty days, such default shall be deemed to have been cured if Landlord commences such performance within said thirty-day period and thereafter diligently undertakes to complete the same. Upon the occurrence of any such default, Tenant may xxx for injunctive relief or to recover damages for any loss directly resulting from the breach, but Tenant shall not be entitled to terminate this Lease or withhold, offset or xxxxx any sums due hereunder. Tenant may "self help" in the event Landlord fails to perform its obligations under this Lease, Landlord shall nevertheless not be in cure any default under the terms of this Lease until such time as Tenant shall have first given Landlord written after notice specifying the nature of such failure to perform its obligations, and then only after Landlord shall have had thirty (30) days following its receipt of such notice within which to perform such obligations; provided that, Landlord shall use diligence opportunity to cure and such failure as soon as reasonably practicable; and provided, further, default renders the Leased Premises "untenantable" (meaning that if longer than thirty (30) days Tenant is reasonably required unable to use such space in order to perform such obligations, Landlord shall have such longer periodthe normal course of its business). In the event of Landlord’s default as above set forth, then, and only then, Tenant may then proceed in equity make any such minor repairs as are necessary to make the Leased Premises tenantable, but may not withhold, offset or at law to compel Landlord to perform its obligations and/or to recover damages proximately caused by such failure to perform (except as and to the extent Tenant has waived its right to damages as provided in this Lease). In addition, in the event that xxxxx any entity not controlling, controlled by or under common control with iStar Financial Inc. succeeds to Landlord’s rights and obligations under this Lease, and such successor Landlord defaults beyond the notice and cure period as above set forth, then, and only then, Tenant may perform such obligations at such successor Landlord’s cost, in which event such successor Landlord shall promptly reimburse Tenant for the amount of such costs reasonably and actually incurred by Tenant (unless Tenant would have been responsible to pay such costs as Additional Rent had Landlord performed such obligations)sums due hereunder.

Landlord’s Default and Tenant’s Remedies. In the event Landlord fails to perform its obligations under this Lease, Landlord shall nevertheless not be in default under the terms of this Lease until such time as Tenant shall have first given Landlord written notice specifying the nature of such failure to perform its obligations, and then only after Landlord shall have had thirty (30) days following its receipt of such notice within which to perform such obligations; provided that, Landlord shall use diligence to cure such failure as soon as reasonably practicable; and provided, further, that if longer than thirty (30) days is reasonably required in order to perform such obligations, Landlord shall have such longer period. In the event of Landlord’s 's default as above set forth, then, and only then, Tenant may then proceed in equity or at law to compel Landlord to perform its obligations and/or to recover damages proximately caused by such failure to perform (except as and to the extent Tenant has waived its right to damages as provided in this Lease). In additionaddition to the foregoing, and notwithstanding Section 13.5, if Landlord fails to perform Landlord's maintenance obligations pursuant to Section 5.1, Tenant shall, after thirty (30) days prior written notice to Landlord (except in the event that any entity not controlling, controlled by or under common control with iStar Financial Inc. succeeds to Landlord’s rights and obligations under this Lease, and such successor Landlord defaults beyond the notice and cure period as above set forth, then, and only then, Tenant may perform such obligations at such successor Landlord’s costcase of emergency, in which case no notice shall be required), have the right (but not the obligation) to perform such obligation on Landlord's behalf and charge Landlord therefor. In no event such successor Landlord shall promptly reimburse Tenant for have the right to offset or deduct any amount of such costs reasonably and actually incurred by Tenant (unless Tenant would have been responsible to pay such costs as Additional Rent had Landlord performed such obligations)due from Rent.

Landlord’s Default and Tenant’s Remedies. In the event Landlord fails to perform any of its obligations under this Lease, Landlord shall nevertheless not be in default under the terms of this Lease until such time as Tenant shall have first given Landlord written notice specifying the nature of such failure to perform its obligations, and then only after Landlord shall have had thirty (30) days a reasonable period of time following its receipt of such notice within which to perform such obligations; provided that, Landlord shall use diligence to cure such failure as soon as reasonably practicable; and provided, further, that if longer than thirty (30) days is reasonably required in order to perform such obligations, Landlord shall have such longer period. In the event of Landlord’s 's default as above set forth, then, and only then, Tenant may then proceed in equity or at law to compel Landlord to perform its obligations and/or to recover damages proximately caused by such failure to perform. In the event Landlord fails to perform any of its obligations herein or under the Lease within such reasonable time period (except as and in case of emergency posing an immediate threat to the extent Tenant has waived its right to damages as provided in this Lease). In addition, in the event that any entity not controlling, controlled by persons or under common control with iStar Financial Inc. succeeds to Landlord’s rights and obligations under this Lease, and such successor Landlord defaults beyond the notice and cure period as above set forth, then, and only then, Tenant may perform such obligations at such successor Landlord’s costproperty, in which event case no prior notice shall be required), then Tenant shall have the right but not the obligation to cure such successor default and to demand reimbursement by Landlord shall promptly reimburse Tenant for the amount reasonable cost of such costs reasonably and actually incurred cure with interest thereon at the rate of ten (10%) percent per annum or the highest rate allowed by law, whichever is less, from the date of the expenditure until repaid. Nothing in this Article 12.3 shall entitle Tenant (unless Tenant would have been responsible to pay offset rent or deduct such costs as amounts from the Base Monthly Rent or Additional Rent had Landlord performed such obligations)due under the terms of this Lease.

Landlord’s Default and Tenant’s Remedies. In the event Landlord fails to perform its obligations under this Lease, Landlord shall nevertheless not be in default if it shall fail to perform or observe any term, condition, covenant or obligation as required under the terms of this Lease until such time as Tenant shall have first given Landlord written notice specifying the nature for a period of such failure to perform its obligations, and then only after Landlord shall have had thirty (30) days following its receipt after written notice thereof from Tenant to Landlord and to any Lender of such notice within which to perform such obligationsTenant has been notified; provided that, Landlord shall use diligence to cure such failure as soon as reasonably practicable; and provided, furtherhowever, that if longer than thirty (30) days the term, condition, covenant or obligation to be performed by Landlord is of such nature that the same cannot reasonably required in order be performed within such thirty-day period, then such default shall be deemed to perform have been cured if Landlord commences such obligations, Landlord shall have performance within said thirty-day period and thereafter diligently completes the same within a reasonable time. Upon the occurrence of any such longer period. In the event of Landlord’s default as above set forth, then, and only thendefault, Tenant may then proceed in equity xxx for injunctive relief or at law to compel Landlord to perform its obligations and/or to recover damages proximately caused by such failure for any loss resulting from the breach, but Tenant shall not be entitled to perform (terminate this Lease or withhold, offset or xxxxx any rent due hereunder except as and to the extent Tenant has waived its right to damages as provided in this Lease)may be expressly set forth herein. In addition[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, in the event that any entity not controllingMARKED BY BRACKETS, controlled by or under common control with iStar Financial Inc. succeeds to Landlord’s rights and obligations under this LeaseHAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, and such successor Landlord defaults beyond the notice and cure period as above set forth, then, and only then, Tenant may perform such obligations at such successor Landlord’s cost, in which event such successor Landlord shall promptly reimburse Tenant for the amount of such costs reasonably and actually incurred by Tenant (unless Tenant would have been responsible to pay such costs as Additional Rent had Landlord performed such obligations)AS AMENDED.

Landlord’s Default and Tenant’s Remedies. In the event Landlord fails to perform its obligations under this Lease, Landlord shall nevertheless not be in default under the terms of this Lease until such time as Tenant shall have first given Landlord written notice specifying the nature of such failure to perform its obligations, and then only after Landlord shall have had thirty (30) days following its receipt of such notice within which to perform such obligations; provided thatPROVIDED THAT, Landlord shall use diligence to cure such failure as soon as reasonably practicable; and provided, further, that if longer than thirty (30) days is reasonably required in order to perform such obligations, Landlord shall have such longer period. In the event of Landlord’s 's default as above set forth, then, and only then, Tenant may then proceed in equity or at law to compel Landlord to perform its obligations and/or to recover damages proximately caused by such failure to perform (except as and to the extent Tenant has waived its right to damages as provided in this Lease). In additionNotwithstanding anything to the contrary contained herein, if Tenant provides notice to Landlord of an event or circumstance regarding the structural elements of the Building that Tenant reasonably believes constitutes an emergency and Landlord fails to take action in a commercially reasonable period of time under the event that any entity not controlling, controlled by or under common control with iStar Financial Inc. succeeds to Landlord’s rights and obligations under this Lease, and such successor Landlord defaults beyond the notice and cure period as above set forth, then, and only thencircumstances, Tenant may take the minimally required action to xxxxx the emergency. In the event Tenant undertakes such emergency structural repair work, Tenant shall not be entitled to any abatement or off-set of Rent; Tenant may then proceed in equity or at law to compel Landlord to perform its obligations and/or to recover damages proximately caused by such obligations at such successor Landlord’s cost, failure to perform (except as and to the extent Tenant has waived its right to damages as provided in which event such successor Landlord shall promptly reimburse Tenant for the amount of such costs reasonably and actually incurred by Tenant (unless Tenant would have been responsible to pay such costs as Additional Rent had Landlord performed such obligationsthis Lease).