Advances by Lessor. If Lessee shall fail to make or perform any payment or act required by this Lease, then, upon ten (10) Business Days' notice to Lessee (or upon shorter notice or no notice, to the extent necessary to meet an emergency or a governmental limitation), Lessor may at its option pay or perform such act for the account of Lessee, and Lessor shall not thereby be deemed to have waived any Default or released Lessee from any obligation hereunder. Amounts so paid by Lessor and all related incidental reasonable costs and related reasonable expenses (including reasonable attorneys' fees and reasonable expenses) incurred in connection with such payment or performance shall constitute Additional Rent and shall be paid by Lessee to Lessor on demand and shall bear interest at the Overdue Rate from the date of Lessor's payment until the date .Lessor is reimbursed in full.
Appears in 2 contracts
Sources: Lease Agreement (Maxxam Inc), Lease Agreement (Maxxam Inc)