Common use of Cure of Defaults Under Lease; Reimbursement from Assignee; Action for Damages Clause in Contracts

Cure of Defaults Under Lease; Reimbursement from Assignee; Action for Damages. Upon discovering that Assignee has failed to make any payment or failed to perform any other obligation under the Lease, and if Assignee fails to cure the same prior to the later of (i) any applicable cure or performance period given by Landlord or (ii) any applicable cure or performance period otherwise applicable under the Lease, Assignor may make such payment or perform such obligation on behalf of Assignee, but without waiving or releasing Assignee from such obligation or waiving or releasing any rights that Assignor may have. Assignee shall reimburse Assignor for any payments made to cure any default under the Lease within 5 business days after Assignor’s demand therefor. All sums so paid by Assignor and not reimbursed within 5 business days shall accrue interest at the rate established in Section 2(e)(ii) of the Lease from the date of such advance by Assignor until reimbursed by Assignee. If and as needed from time to time, Assignor shall be entitled to commence an action for damages against Assignee to recover any unreimbursed payments that Assignor has advanced on behalf of Assignee, together with interest accrued thereon.