Common use of Conditions Precedent to Landlord's Execution of New Lease Clause in Contracts

Conditions Precedent to Landlord's Execution of New Lease. The provisions of Section 11.4(b) hereof notwithstanding, Landlord shall not be obligated to enter into a new lease with a Recognized Mortgagee unless the Recognized Mortgagee (i) shall pay to Landlord, concurrently with the execution and delivery of the new lease, all Rental due under this Lease up to and including the date of the commencement of the term of the new lease (excluding penalties and interest thereon) and all expenses, including, without limitation, reasonable attorneys' fees and disbursements and court costs, incurred in connection with the Default or Event of Default, the termination of this Lease and the preparation of such new lease, if and to the extent such expenses would be collectible under this Lease from Tenant, (ii) except in the case of an Event of Default described in Sections 24.1(b), and (k) through (n) hereof, shall promptly after receipt from Landlord of a statement of the Default required to be cured, cure all Defaults then existing under this Lease (as though the Term had not been terminated), and (iii) shall deliver to Landlord a statement, in writing, acknowledging that Landlord, by entering into such new lease with such Recognized Mortgagee or such designee or nominee, shall not have or be deemed to have waived any Defaults or Events of Default then existing under this Lease (other than the Defaults or Events of Default mentioned in Section 24.1(b) and (k) through (n) hereof which Landlord shall be deemed to have waived) notwithstanding that any such Defaults or Event of Default existed prior to the execution of such new lease and that the breached obligations which gave rise to the Defaults or Event of Default are also obligations under such new lease.

Conditions Precedent to Landlord's Execution of New Lease. The provisions of Section 11.4(b) hereof notwithstanding, Landlord shall not be obligated to enter into a new lease Lease with a Recognized Mortgagee unless the Recognized Mortgagee (i) shall pay to Landlord, concurrently with the execution and delivery of the new leaseLease, all Rental due under this the Lease up to and including the date of the commencement of the term of the new lease Lease (excluding penalties and interest thereon) and all expenses, including, without limitation, including reasonable attorneys' ’ fees and disbursements and court costs, incurred in connection with the Default default or Event event of Defaultdefault, the termination of this the Lease and the preparation of such new leaseLease, if and to the extent such expenses would be collectible under this the Lease from Tenant, (ii) except in the case of an Event event of Default described in Sections 24.1(b), and (k) through (n) hereofdefault or defaults not susceptible to cure by the Recognized Mortgagee, shall promptly after receipt from Landlord of a statement of the Default default required to be cured, cure all Defaults defaults then existing under this the Lease (as though the Term term had not been terminated), and (iii) shall deliver to Landlord a statement, in writing, acknowledging that Landlord, by entering into such new lease Tenant with such designee of such Recognized Mortgagee or such designee or nomineeMortgagee, shall not have or be deemed to have waived any Defaults defaults or Events events of Default default then existing under this the Lease (other than the Defaults or Events of Default mentioned in Section 24.1(b) and (k) through (n) hereof which Landlord shall be deemed to have waived) notwithstanding that any such Defaults defaults or Event event of Default default existed prior to the execution of such new lease Lease and that the breached obligations which gave rise to the Defaults defaults or Event event of Default default are also obligations under such new leaseLease.