Curing Defaults. (a) If Tenant shall default in the performance of any of Tenant’s obligations under this Lease, Landlord without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Tenant, without notice in a case of emergency, and in any other case only if such default continues after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01. (b) Bills for any expenses incurred by Landlord in connection with any such performance by it for the account of Tenant, and, if Landlord shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired. 27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In the event Landlord shall fail so to reimburse Tenant for such amounts within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premises.
Appears in 2 contracts
Sources: Operating Agreement (New York Times Co), Operating Agreement (New York Times Co)
Curing Defaults. (a) Section 25.1 If Tenant a party shall default in the performance of any of Tenant’s its obligations under this Lease, Landlord without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Tenant, without notice in a case of emergency, and in any other case only if such default continues after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this under
Section 27.01.
(b) 25.2 Bills for any reasonable expenses actually incurred by Landlord the non-defaulting party or the Board of Managers in connection with any such performance by it for the account of Tenantthe defaulting party, andas well as bills for any property, if Landlord material, labor or services provided, furnished or rendered, by the non-defaulting party or the Board of Managers or at its instance to the defaulting party shall have been be rendered monthly, or immediately, at the successful non-defaulting party’s or the Board of Manager’s option, and shall be due and payable within thirty (30) days after rendition. The defaulting party in may dispute any action or suitsuch bill provided it pays the amount thereof, bills without prejudice, when due, and such dispute shall be determined by arbitration pursuant to Article 28. Bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant the defaulting party, or Tenant’s obligations hereunderto resist or defend any claim, action or proceeding brought by the defaulting party, under or in connection with this Lease or pursuant to lawLease, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Leaseproceedings, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthlyupon final determination or settlement of the action, proceeding or immediately, at its option, claim involved in the non- defaulting party’s or the Board of Managers’ favor and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant thereforrendition. In Any bills referred to in the event Landlord shall fail so to reimburse Tenant for such amounts first sentence of this Section that are not paid within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given of rendition and all bills referred to Landlord a notice specifying the default, or, in the case third sentence of a default which cannot this Section shall be paid with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after interest at the agreed rate from the date of said notice of Tenant; providedexpense, howevercost or disbursement involved was due and payable (or paid, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereoflater), to being condemned the date paid. If any action, proceeding or vacated claim referred to in the second sentence of this Section 25.2 shall be finally determined or (C) result settled in Tenant’s favor, Tenant shall be entitled to offset the amount of its judgment against any amounts otherwise due under this Lease. The parties’ obligations under this Article 25 shall survive the termination of the Unit this Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premises.
Appears in 2 contracts
Sources: Contract of Sale, Contract of Sale
Curing Defaults. If either party is required to perform or comply with any agreement or provision hereof and shall fail to do so within the time provided therefor (aor if no time is provided therefor then within thirty (30) If Tenant days after written demand for compliance shall have been received by any party hereto from the other unless such default shall be of such nature that same cannot be completely cured within such thirty (30) day period but the curing thereof has been commenced within the said thirty (30) day period and shall thereafter be continued with reasonable diligence), then in each such case, upon the expiration of the time provided in this article for the performance or compliance therewith or for the curing of any of Tenant’s obligations under this Leasesame, Landlord without thereby waiving such default, the party demanding compliance may (but shall not be obligated to) perform the same and comply therewith for the account and at the expense of Tenant, without notice in a case the party failing to do so; and the party failing to do so immediately upon receipt of emergency, and in any other case only if such default continues after the expiration an itemized invoice of the applicable grace periodcost and expense thereof, if any, agrees to promptly pay the reasonable cost and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01.
(b) Bills for any expenses expense incurred by Landlord in connection with any such performance by it for the account of Tenantother party hereto, and, if Landlord shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from often (10%) percent per annum to the date incurred until payment is received. Should Lessee be the party failing to make such payment, the cost and expense thereof shall be charged to Lessee as additional rent, which shall be paid by the Lessee on the next rent payment date following the date paid of receipt by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In Lessee of such invoice, and in the event Landlord such additional rent shall fail so not be paid when due, it may be collected in the same manner as is herein provided for the collection of rent. Should Lessor be the party failing to reimburse Tenant for make such amounts within such thirty (30) day periodpayment to Lessee then Lessee, Tenant without impairing or affecting any other of its rights, shall have the right to offset withhold payment of all Base Rent, and additional rent, if any, until Lessee has recouped all such amounts against costs and expenses, with interest as aforesaid, to the next installment(s) of Fixed Rent and/or Additional Charges payable under this Leasedate full payment is received. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant In any such case if Lessor is in default hereunder, Lessee, without impairing or affecting any other rights it may have for damages or otherwise, shall have given the right to Landlord a cancel and terminate this Lease by giving written notice specifying of Lessee’s election to do so; and upon giving such notice the default, or, in the case life of a default which cannot with due diligence be cured within a period this Lease shall cease and come to an end as of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of set forth in said notice of Tenant; providednotice, however, that with the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply same force and effect as if the continuance of such Landlord Long-Term Cure Default date set forth were the date originally fixed for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit term and of any extended term thereof. In computing the time within which either party is required to comply with any covenant, agreement or provision of this Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct there shall be excluded therefrom periods of its business in the Premisesreasonable delay on account of war, “Acts of God” and other unavoidable delays.
Appears in 1 contract
Sources: Lease (TRX Inc/Ga)
Curing Defaults. (a) If Tenant shall default in the performance of any of Tenant’s its non-monetary obligations under this Leasehereunder, Landlord without thereby waiving prejudice and in addition to any other rights it may have at law or in equity, after giving Tenant written notice of such default, may default and after failure by Tenant within thirty (but 30) days of the receipt of such notice to correct or to undertake and diligently pursue correction of said default(s) in which event the thirty day period shall be extended for a reasonable time (which notice and/or opportunity to cure shall not be obligated torequired in case Landlord shall determine that an emergency exists requiring prompt action), may cure such defaults(s) perform on behalf of Tenant. The reasonable time granted to Tenant hereunder shall continue as long as the default and/or the delay in curing same has been caused by causes beyond Tenant's reasonable control, and cannot, with due diligence, be cured within such thirty (30) day period). Tenant shall reimburse Landlord on demand for all costs incurred by Landlord in that regard plus interest thereon from the account and date(s) of expenditure at the expense of TenantDefault Rate, without notice in a case of emergency, and in any other case only if such default continues after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01which shall be deemed Additional Rent payable hereunder.
(b) Bills for any expenses incurred by Landlord in connection with any such performance by it for the account of Tenant, and, if Landlord shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s its obligations under this Leasehereunder, TenantTenant , without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense after giving Landlord written notice of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid after failure by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand of the receipt of such notice to correct or to undertake and diligently pursue correction of said default(s), in which event the thirty day period shall be extended for a reasonable time, may cure such defaults(s) on behalf of Landlord. The reasonable time granted to Landlord hereunder shall continue as long as the default and/or the delay in curing same has been caused by Tenant therefor. In the event Landlord shall fail so to reimburse Tenant for such amounts causes beyond Landlord's reasonable control, and cannot, with due diligence, be cured within such thirty (30) day period). Landlord shall reimburse Tenant, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean within thirty (30) days after Tenant shall have given to Landlord a notice specifying the defaultof demand therefor, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take for all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required actual costs incurred by Tenant for the conduct of its business in the Premisesthat regard.
Appears in 1 contract
Curing Defaults. (a) If Tenant shall default be in default, beyond any applicable notice and cure period, in the performance of any of Tenant’s its obligations under this Leasehereunder, Landlord Landlord, without thereby waiving such defaultany obligation to do so, in addition to any other rights it may have in law or equity, may (but shall not be obligated to) perform the same for the account and at the expense of Tenant, without notice in a case of emergency, and in any other case only if elect to cure such default continues on behalf of Tenant after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten (10) days prior written notice (except in the case of its intention emergency or waste to take action under this Section 27.01the Building) to Tenant. Tenant shall reimburse Landlord upon demand for any sums paid or costs incurred by Landlord in curing such default, including interest thereon from the respective dates of Landlord's incurring such costs, which sums and costs together with interest shall be deemed additional rent.
(b) Bills for any expenses incurred by Landlord in connection with any such performance by it for the account of Tenant, and, if Landlord shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance or observance of any of Landlord’s obligations under agreement or condition in this Leaselease contained on its part to be performed or observed, Tenant, without thereby waiving such default, may (but and Landlord shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if cure such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In or sooner period m the event Landlord shall fail so of an emergency after notice from Tenant specifying the default, or, if such default is not able to reimburse Tenant for such amounts be cured within such thirty (30) day period, Tenant shall have the right to offset Landlord has not during such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise commenced to cure such default and thereafter diligently and continuously pursues curing such default, Tenant may, at any a thereafter, cure such default for the account of Landlord’s intention , and all reasonable amounts paid or all reasonable contractual liabilities incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord agrees to take all steps reasonably necessary reimburse Tenant within ten (10) days of demand therefore; provided that Tenant may, without waiving any claim for damages on account of such breach, cure any such default as aforesaid prior to remedy such Landlord Long-Term Cure Default, (y) duly commence within the expiration of said thirty (30) day period, and thereafter diligently prosecute if the curing of such default prior to completion all steps the expiration of said thirty (30) day period is reasonably necessary to remedy protect the Premises or Tenant's interest therein, or to prevent injury or damage to persons or property so long as Tenant first uses reasonable efforts to notify Landlord of the need for such repair and permits Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after opportunity to cure such default.
(c) In the date of said event Landlord fails to perform any repair obligations under Section 7(d)(ii) hereof, Tenant shall send Landlord written notice of Tenant; provided, however, that the foregoing extension of the cure period beyond such failure. If Landlord fails to initiate and diligently pursue such repair within thirty (30) days of such notice, Tenant shall send Landlord a second written notice of such failure. If and only if Landlord fails to cure initiate and diligently pursue such repair within fifteen (15) days of such second notice, Tenant may make such repair pursuant to its rights noted in Section 22(b) above and shall send Landlord a notice of such event. Landlord Long-Term Cure Default and Tenant shall then each select an institutional third party property manager who shall together select a third institutional third party property manager (the "Evaluator"). The Evaluator shall determine and/or engage other professionals to assist in the determination, within thirty (30) days of its engagement, all at the sole cost of Tenant, whether Landlord should have performed the requested repair pursuant to the terms of this lease. The parties agree that Tenant shall bear the burden to document the need for such repair and any such failure shall be construed against Tenant. The determination by the Evaluator shall not apply if be evidence of whether such repair is required hereunder and shall be of no affect, except to permit Tenant to take the continuance actions noted in this Section 22(c) and shall in no way limit Landlord's right to bring an action against Tenant for such nonpayment of Rent, its costs incurred pursuant to such action and interest thereon, and including without limitation, attorney's fees and costs. If the Evaluator determines that Landlord should have performed such repair, Tenant may offset the commercially reasonable cost of such Landlord Long-Term Cure Default repair against Rent due hereunder. If, however, the Evaluator determines that the repair was not required hereunder, then, without limiting Tenant's right to bring an action for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination payment of the Unit Leasereasonable cost of such repair if required to be made by Landlord hereunder, or (D) prevent its costs incurred pursuant to such action and interest thereon, and including without limitation, attorney's fees and costs, Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premisesmay not offset as noted above and shall pay all sums due hereunder as they become due.
Appears in 1 contract
Curing Defaults. (a) If Tenant shall default defaults in the performance of any of Tenant’s its obligations under this Lease, Landlord Landlord, without thereby waiving such default, may perform such obligation at Tenant’s expense: (but shall not be obligated toa) perform immediately, and without notice, in the same for case of emergency or if the account and at default (i) materially interferes with the expense use by any other tenant of Tenantthe Building, without notice (ii) materially interferes with the efficient operation of the Building, (iii) results in a case violation of emergencyany federal, state or local law, rule, ordinance or regulation, or (iv) results or will result in a cancellation of any insurance policy maintained by Landlord, and (b) in any other case only if such default continues after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten (10) days prior from the date Landlord gives notice of its Landlord’s intention to take action under this Section 27.01.
(b) Bills for any perform the defaulted obligation. All costs and expenses incurred by Landlord in connection with any such performance by it and all costs and expenses, including reasonable counsel fees and disbursements, incurred by Landlord in any action or proceeding (including any unlawful detainer proceeding) brought by Landlord to enforce any obligation of Tenant under this lease and/or right of Landlord in or to the Premises, shall be paid by Tenant to Landlord on demand, with interest thereon at the rate provided in this Lease for past due sums from the date incurred by Landlord. Except as expressly provided to the contrary in this Lease, all costs and expenses in connection with such obligation which, pursuant to this Lease are incurred by Landlord and payable to Landlord by Tenant, and all charges, amounts and sums payable to Landlord by Tenant for any property, material, labor, utility or other services which, pursuant to this Lease or at the request and for the account of Tenant, andare provided, if Landlord furnished or rendered by Landlord, shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be become due and payable as Additional Charges by Tenant to Landlord in accordance with the terms tern’s of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been bills rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In the event Landlord shall fail so to reimburse Tenant for such amounts within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premises.
Appears in 1 contract
Sources: Lease Agreement (Fibrogen Inc)
Curing Defaults. (a) If Tenant shall default defaults in the performance of any of Tenant’s its obligations under this Lease, Landlord Landlord, without thereby waiving such default, may perform such obligation at Tenant’s expense: (but shall not be obligated toa) perform immediately, and without notice, in the same for case of emergency or if the account and at default (i) materially interferes with the expense use by any other tenant of Tenantthe Building, without notice (ii) materially interferes with the efficient operation of the Building, (iii) results in a case violation of emergencyany federal, state or local law, rule, ordinance or regulation, or (iv) results or will result in a cancellation of any insurance policy maintained by Landlord, and (b) in any other case only if such default continues after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten (10) days prior from the date Landlord gives notice of its Landlord’s intention to take action under this Section 27.01.
(b) Bills for any perform the defaulted obligation. All costs and expenses incurred by Landlord landlord in connection with any such performance by it and all costs and expenses, including reasonable counsel fees and disbursements, incurred by landlord in any action or proceeding (including any unlawful detainer proceeding) brought by Landlord to enforce any obligation of Tenant under this lease and/or right of Landlord in or to the Premises, shall be paid by Tenant to Landlord on demand, with interest thereon at the rate provided in this Lease for past due sums from the date incurred by landlord. Except as expressly provided to the contrary in this Lease, all costs and expenses which, pursuant to this Lease are incurred by Landlord and payable to Landlord by Tenant, and all charges, amounts and sums payable to Landlord by Tenant for any property, material, labor, utility or other services which, pursuant to this Lease or at the request and for the account of Tenant, andare provided, if Landlord furnished or rendered by Landlord, shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be become due and payable as Additional Charges by Tenant to Landlord in accordance with the terms of such bills. Notwithstanding anything the bills rendered by landlord to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expiredTenant.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In the event Landlord shall fail so to reimburse Tenant for such amounts within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premises.
Appears in 1 contract
Sources: Office Lease (Artisoft Inc)
Curing Defaults. (a) 27.01. If Tenant shall default in the performance of any of Tenant’s obligations under this Leaselease and such default shall continue after notice and the expiration of any applicable cure period, Landlord Landlord, any Superior Lessor or any Superior Mortgagee without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Tenant, without notice in a case of emergency, and in any other case only if such default continues after the expiration of the applicable grace period, if any. If Landlord effects such cure by bonding any lien which Tenant is required to bond or otherwise discharge, Tenant shall obtain and substitute a bond for Landlord’s bond at its sole cost and expense and reimburse Landlord has given to Tenant at least ten (10) days prior notice for the cost of its intention to take action under this Section 27.01Landlord’s bond.
(b) 27.02. Bills for any bona fide expenses incurred by Landlord or any Superior Lessor or any Superior Mortgagee in connection with any such performance by it for the account of Tenant, and, if Landlord shall have been the successful party in any action or suit, and bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Leaselease, and interest on all sums advanced by Landlord or such Superior Lessor or Superior Mortgagee under this Section 27.02 and/or Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord or such Superior Lessor or Superior Mortgagee to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In the event Landlord shall fail so to reimburse Tenant for such amounts within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premises.
Appears in 1 contract
Curing Defaults. (a) SECTION 31.01. If Tenant shall default in the performance of any of Tenant’s 's obligations under this Lease, Landlord Landlord, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Tenant, without notice notice, in a case of emergency, and in any other case only if such default continues after case, beyond the expiration of period provided for the applicable grace period, if any, cure thereof in this Lease. All reasonable sums so paid by Landlord and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01.
(b) Bills for any all costs and expenses reasonably incurred by Landlord in connection with any such performance the provisions of the preceding paragraph, inclusive of attorneys' fees, shall be paid by it for the account Tenant to Landlord within thirty (30) days of Tenant, and, if demand.
A. If Landlord shall have been the successful party in fail to make any action or suit, bills for all costs, expenses and disbursements repairs required of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, Landlord under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at beyond the Interest Rate or period provided for the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Leasecure thereof, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord for the reasonable costs thereof inclusive of attorneys' fees if the failure of Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In make such repairs materially and adversely impairs Tenant's ability to use the Premises for the operation of its business pursuant to the first paragraph of Section 9.01 hereof.
B. Anything in this Section 31.02 to the contrary notwithstanding, Landlord agrees that in the event of an emergency which poses the threat of imminent, severe damage to Tenant, or its employees, or invitees, or to Tenant's Property, and necessitates immediate repair, Tenant may proceed forthwith to make such repair ("Emergency Repairs") if (i) it is unable to notify Landlord shall fail so of such emergency condition after using diligent efforts to contact and advise Landlord of the need for such Emergency Repairs, or (ii) Landlord fails to make Emergency repairs after being notified of the need to do so.
C. If Landlord fails to reimburse Tenant for such amounts repairs referenced in B. preceding, within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to furnish Landlord with a notice specifying statement in reasonable detail of the defaultrepairs effected and the costs thereof, orsupported by invoices from third parties for the furnishing of materials or the performance of work in connection with the making of such repairs, in Tenant may deduct the case cost thereof from the installments of a default which cannot with Net Annual Rent first becoming due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time payable after the date on which such reimbursement is first required to be made.
D. If provisions of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default this Section 31.02 shall not apply if to the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination provisions of the Unit Leasesecond paragraph 1.02 hereof, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premisesand vice versa.
Appears in 1 contract
Curing Defaults. (a) If Tenant shall default defaults in the performance of any of Tenant’s its obligations under this LeaseLease after the expiration of any applicable cure periods, Landlord Landlord, without thereby waiving such default, may perform such obligation at Tenant’s expense: (but shall not be obligated toa) perform immediately, and without notice, in the same for case of emergency or if the account and at default (i) materially interferes with the expense use by any other tenant of Tenantthe Building, without notice (ii) materially interferes with the efficient operation of the Building, (iii) results in a case violation of emergencyany federal, state or local law, rule, ordinance or regulation, or (iv) results or will result in a cancellation of any insurance policy maintained by Landlord, and (b) in any other case only if such default continues after twenty (20) days from the expiration date Landlord gives notice of Landlord’s intention to perform the applicable grace defaulted obligation (or, if such default cannot be cured within such twenty (20) day period, if any, Tenant fails to diligently commence such cure within such twenty (20) day period). All costs and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01.
(b) Bills for any expenses incurred by Landlord in connection with any such performance by it and all costs and expenses, including reasonable counsel fees and disbursements, incurred by Landlord in any action or proceeding (including any unlawful detainer proceeding) brought by Landlord to enforce any obligation of Tenant under this lease and/or right of Landlord in or to the Leased Premises, shall be paid by Tenant to Landlord on demand, with interest thereon at the rate provided in this Lease for past due sums from the date incurred by Landlord. Except as expressly provided to the contrary in this Lease, all costs and expenses which, pursuant to this Lease are incurred by Landlord and payable to Landlord by Tenant, and all charges, amounts and sums payable to Landlord by Tenant for any property, material, labor, utility or other services which, pursuant to this Lease or at the request and for the account of Tenant, andare provided, if Landlord furnished or rendered by Landlord, shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be become due and payable as Additional Charges by Tenant to Landlord in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been bills rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In the event Landlord shall fail so to reimburse Tenant for such amounts within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premises.
Appears in 1 contract
Curing Defaults. (a) If Tenant shall default in the performance of any of Tenant’s obligations under this Lease, Landlord without thereby waiving such default, may (but shall not be obligated to) either party is required to perform the same for the account and at the expense of Tenant, without notice in a case of emergency, and in any other case only if such default continues after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01.
(b) Bills for any expenses incurred by Landlord in connection or comply with any such performance by it for the account of Tenant, and, if Landlord agreement or provision hereof and shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring fail to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and do so within the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may provided therefor (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only or if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term no time is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant provided therefor then within thirty (30) days after written demand for compliance shall have been received by Tenant therefor. In any party hereto from the event Landlord other unless such default shall fail so to reimburse Tenant for be of such amounts nature that same cannot be completely cured within such thirty (30) day period, Tenant shall have period but the right to offset such amounts against curing hereof has been commenced within the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant and shall thereafter be continued with reasonable diligence) then, in each such case, upon the expiration of Landlord’s intention the time provided in this Section for the performance or compliance therewith or for the curing of same, the party demanding compliance therewith or for the curing of same, the party failing to take all steps reasonably necessary do so immediately upon receipt of an itemized invoice of the cost and expense thereof, agrees to remedy promptly pay the reasonable cost and expense 8 incurred by the other party hereto, with interest at the rate of eight percent (8%) per annum to the date payment is received. Should the Lessee be the party failing to make such Landlord Long-Term Cure Defaultpayment, (y) duly commence within said thirty (30) day periodthe cost and expense thereof shall be charged to the Lessee as additional rent, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after which shall be paid by the Lessee on the next rent payment date following the date of said receipt by Lessee of such invoice, and in the event such additional rent shall not be paid when due, it may be collected in the same manner as is herein provided for the collection of rent. In any such case if Lessor is in default hereunder, Lessee, without impairing or affecting any other rights it may have for damages or otherwise, shall have the right to cancel and terminate this Lease by giving written notice of Tenant; providedLessee's election to do so, however, that upon giving such notice the foregoing extension life of this Lease shall cease and come to an end as of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply date of receipt of the notice or Lessee's vacating the premises, whichever occurs last, with the same force and effect as if the continuance of such Landlord Long-Term Cure Default date set forth were the date originally fixed for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit term of any extended term thereof. In computing the time within which either party is required to comply with any covenant, agreement or provision of this Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct there shall be excluded therefrom periods of its business in the Premisesreasonable delay on account of war, "labor troubles", "Acts of God" and other unavoidable delays.
Appears in 1 contract
Sources: Commercial Lease Agreement (United Oilfield Services Inc)
Curing Defaults. (a) Section 19.01. If Tenant shall default in the performance of any of Tenant’s 's obligations under this Lease, Landlord may, without thereby waiving such default, may default (but shall not be obligated to) perform the same for the account and at the expense of Tenant, without notice in a case of emergency or a situation which in Landlord's reasonable opinion, with the passage of time, may result in an emergency, and in any other case only if such default continues after the expiration of thirty (30) days from the applicable grace date Landlord gives Tenant notice of the default provided, however, if such default is not reasonably capable of being cured within such thirty (30) day period, Landlord may (but is not obligated to do so) perform the same for the account of and at the expense of Tenant if anyTenant shall not have commenced and diligently proceeded to cure such default.
Section 19.02. Other than as set forth in Section 38.09 if Landlord shall default in the performance of any Landlord's obligations under this Lease, Tenant may, without thereby waiving such default (but shall not be obligated to) perform the same for the account and Landlord has given to Tenant at least ten the expense of Landlord, without notice in a case of emergency, or a situation which in Tenant's reasonable opinion, with the passage of time, may result in an emergency and in any other case only if such default continues after the expiration of sixty (1060) days prior from the date Tenant gives Landlord notice of its intention the default provided, however, if such default is not reasonably capable of being cured within such sixty (60) day period, Tenant may (but is not obligated to take action under this Section 27.01do so) perform the same for the account of and at the expense of Landlord if Landlord shall not have commenced and diligently proceeded to cure such default. Bills for any expenses incurred by Tenant in connection with any such performance by it of work for Landlord shall be payable by Landlord within 15 days after Landlord's receipt of such bill. ▇▇te payments by Landlord shall bear interest at the same rate as late payments by Tenant.
(b) Section 19.03. Bills for any expenses incurred by Landlord in connection with any such performance by it for the account of Tenant, and, if Landlord shall have been the successful party in any action or suit, and bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent overdue Base Annual Rent, Additional Payments or Additional Charges Rent or any part thereof or enforcing or endeavoring to enforce any rights against Tenant Tenant, or Tenant’s 's obligations hereunder, under or in connection with this Lease or pursuant to law, -54- 58 including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or rate and in the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts manner set forth in Section 3.04 shall be due as and payable as for Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expiredRent.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In the event Landlord shall fail so to reimburse Tenant for such amounts within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premises.
Appears in 1 contract
Curing Defaults. (a) Section 25.1 If Tenant a party shall default in the performance of any of Tenant’s its obligations under this Lease, Landlord without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Tenant, without notice in a case of emergency, and in any other case only if such default continues after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this under
Section 27.01.
(b) 25.2 Bills for any reasonable expenses actually incurred by Landlord the non-defaulting party or the Board of Managers in connection with any such performance by it for the account of Tenantthe defaulting party, andas well as bills for any property, if Landlord material, labor or services provided, furnished or rendered, by the non-defaulting party or the Board of Managers or at its instance to the defaulting party shall have been be rendered monthly, or immediately, at the successful non-defaulting party’s or the Board of Manager’s option, and shall be due and payable within thirty (30) days after rendition. The defaulting party in may dispute any action or suitsuch ▇▇▇▇ provided it pays the amount thereof, bills without prejudice, when due, and such dispute shall be determined by arbitration pursuant to Article 28. Bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant the defaulting party, or Tenant’s obligations hereunderto resist or defend any claim, action or proceeding brought by the defaulting party, under or in connection with this Lease or pursuant to lawLease, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Leaseproceedings, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthlyupon final determination or settlement of the action, proceeding or immediately, at its option, claim involved in the non- defaulting party’s or the Board of Managers’ favor and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant thereforrendition. In Any bills referred to in the event Landlord shall fail so to reimburse Tenant for such amounts first sentence of this Section that are not paid within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given of rendition and all bills referred to Landlord a notice specifying the default, or, in the case third sentence of a default which cannot this Section shall be paid with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after interest at the agreed rate from the date of said notice of Tenant; providedexpense, howevercost or disbursement involved was due and payable (or paid, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereoflater), to being condemned the date paid. If any action, proceeding or vacated claim referred to in the second sentence of this Section 25.2 shall be finally determined or (C) result settled in Tenant’s favor, Tenant shall be entitled to offset the amount of its judgment against any amounts otherwise due under this Lease. The parties’ obligations under this Article 25 shall survive the termination of the Unit this Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premises.
Appears in 1 contract
Sources: Contract of Sale
Curing Defaults. (a) 30.01. If Tenant shall default in the performance of any of Tenant’s obligations under this Lease, Landlord Landlord, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Tenant, without notice in a case of emergency, and in any other case only if such default continues after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten fifteen (1015) days prior from the date Landlord gives Tenant notice of its intention to take action under this Section 27.01.
(b) Bills the default. Charges for any expenses incurred by Landlord in connection with any such performance by it for the account of Tenant, and, if Landlord shall have been the successful party in any action or suit, bills and charges for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel feesattorneys’ fees and expenses, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Demised Premises after default by Tenant or upon the expiration of the Term or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (Article at the Interest Late Payment Rate or the maximum rate permitted by law, whichever is less) , shall be payable by Tenant and may be sent invoiced by Landlord to Tenant monthly, or immediately, or at its any time, at Landlord’s option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expiredupon demand.
27.0230.02. If Landlord shall default in the performance of any of Landlord’s obligations under this LeaseLease beyond any applicable notice or cure period, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergencyemergency posing a threat to life or safety or property, and in any other case only if such default shall continue and not be remedied within continues after the “Landlord Applicable Cure Period” expiration of sixty (as such term is hereinafter defined), and Tenant has given at least ten (1060) days prior from the date Tenant gives Landlord notice of the default and advising Landlord that Tenant intends to Landlord of exercise its intention to take action self help rights under this Section 27.0230.02, unless Landlord has commenced and is then diligently pursuing such cure. All reasonable In the event of an emergency (such emergency posing a threat to life or safety or property) Tenant shall have the right to perform such obligation itself and seek reimbursement from Landlord, but Tenant shall, as soon as practicable, notify Landlord (including, but not limited to telephonic or personal notification) of such emergency. Any costs and or expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred interest on all sums advanced by Tenant, together with interest Tenant under this Article at the Interest Prime Rate as announced in the Wall Street Journal (or a successor index reasonably selected by Landlord), plus two percent (2%) per annum, or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid shall be payable by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after of demand and, in addition to any other rights or remedies of Tenant under this Lease, any bills received by Tenant thereforfor same may be sent by Tenant to Landlord for payment by Landlord monthly, or immediately, at Tenant’s option. In no event shall the failure of Landlord to perform any repair or other obligation which is the subject matter hereof, whether or not requested by Tenant, be deemed to be an acknowledgment that the Landlord had a duty or obligation to perform the same. In the event Landlord shall fail so disputes the necessity of the performance of the repair or other obligation in question, its obligations to reimburse Tenant for make same, or the cost thereof, or if Landlord fails to pay same when due hereunder, Tenant’s remedy shall, subject to Landlord’s and Tenant’s option to require arbitration of such amounts within claim under Article 34 hereof, be an action at law to recover such thirty (30) day period, claimed amount and Tenant shall have the right not, in any case, be entitled to any offsets or deductions from Rent. Nothing contained in this Section 30.02 shall be construed to allow or permit Tenant to deduct or offset such or reduce any amounts due against the next installment(s) of Fixed any Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premises.
Appears in 1 contract
Sources: Lease Agreement (Vs Direct Inc.)
Curing Defaults. (a) If Tenant shall default be in default, beyond any applicable notice and cure period, in the performance of any of Tenant’s its obligations under this Leasehereunder, Landlord Landlord, without thereby waiving such defaultany obligation to do so, in addition to any other rights it may have in law or equity, may (but shall not be obligated to) perform the same for the account and at the expense of Tenant, without notice in a case of emergency, and in any other case only if elect to cure such default continues on behalf of Tenant after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten (10) days prior written notice (except in the case of its intention emergency or waste to take action under this Section 27.01the Building) to Tenant. Tenant shall reimburse Landlord upon demand for any sums paid or costs incurred by Landlord in curing such default, including interest thereon on the respective dates of Landlord's incurring such costs, which sums and costs together with interest shall be deemed additional rent.
(b) Bills for any expenses incurred by Landlord in connection with any such performance by it for the account of Tenant, and, if Landlord shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance or observance of any of Landlord’s obligations under agreement or condition in this Leaselease contained on its part to be performed or observed, Tenant, without thereby waiving such default, may (but and Landlord shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if cure such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In or sooner period in the event Landlord shall fail so of an emergency after notice from Tenant specifying the default, or, if such default is not able to reimburse Tenant for such amounts be cured within such thirty (30) day period, Tenant shall have the right to offset Landlord has not during such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise commenced to cure such default and thereafter diligently and continuously pursues curing such default, Tenant may, at any time thereafter, cure such default for the account of Landlord’s intention , and all reasonable amounts paid or all reasonable contractual liabilities incurred by Tenant in so doing shall be deemed paid or incurred for the account of Landlord, and Landlord agrees to take all steps reasonably necessary reimburse Tenant within ten (10) days of demand therefore; provided that Tenant may, without waiving any claim for damages on account of such breach, cure any such default as aforesaid prior to remedy such Landlord Long-Term Cure Default, (y) duly commence within the expiration of said thirty (30) day period, and thereafter diligently prosecute if the curing of such default prior to completion all steps the expiration of said thirty (30) day period is reasonably necessary to remedy protect the Premises or Tenant's interest therein, or to prevent injury or damage to persons or property so long as Tenant first uses reasonable efforts to notify Landlord of the need for such repair and permits Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after opportunity to cure such default.
(c) In the date of said event Landlord fails to perform any repair obligations under Section 7(d)(ii) hereof, Tenant shall send Landlord written notice of Tenant; provided, however, that the foregoing extension of the cure period beyond such failure. If Landlord fails to initiate and diligently pursue such repair within thirty (30) days of such notice, Tenant shall send Landlord is second written notice of such failure. If and only if Landlord fails to cure initiate and diligently pursue such repair within fifteen (15) days of such second notice, Tenant may make such repair pursuant to its rights noted in Section 22(b) above and shall send Landlord a notice of such event. Landlord Long-Term Cure Default and Tenant shall then each select an institutional third party property manager who shall together select a third institutional third party property manager (the "Evaluator"). The Evaluator shall determine and/or engage other professionals to assist in the determination, within thirty (30) days of its engagement, all at the sole cost of Tenant whether Landlord should have performed the requested repair pursuant to the terms of this lease. The parties agree that Tenant shall bear the burden to document the need for such repair and any such failure shall be construed against Tenant. The determination by the Evaluator shall not apply if be evidence of whether such repair is required hereunder and shall be of no affect, except to permit Tenant to take the continuance actions noted in this Section 22(c) and shall in no way limit Landlord's right to bring an action against Tenant for such nonpayment of Rent, its costs incurred pursuant to such action and interest thereon, and including without limitation, attorney's fees and costs. If the Evaluator determines that Landlord should have performed such repair, Tenant may offset the commercially reasonable cost of such Landlord Long-Term Cure Default repair against Rent due hereunder. If, however, the Evaluator determines that the repair was not required hereunder, then, without limiting Tenant's right to bring an action for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination payment of the Unit Leasereasonable cost of such repair if required to be made by Landlord hereunder, or (D) prevent its costs incurred pursuant to such action and interest thereon, and including without limitation, attorney's fees and costs, Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premisesmay not offset as noted above and shall pay all sums due hereunder as they become due.
Appears in 1 contract
Curing Defaults. (a) If Tenant shall default in the observance or performance of any of term, covenant or condition in this Lease on Tenant’s obligations under this Lease's part to be observed or performed, Landlord may, without thereby waiving such defaultdefault and without liability to Tenant in connection therewith, may (but shall not be obligated to) perform the same remedy such default for the account of Tenant (including, without limitation, the right to bond or insure over any mechanics' liens required under Section 5.04 hereof), immediately and at the expense of Tenant, without notice in a the case of an emergency, and or in any other case only case, if Tenant shall fail to remedy such default continues within a reasonable period after notice by Landlord or within any time period required by law, and such default causes or permits any condition which interferes with the expiration use by Landlord or any other tenant of any space in the Building, or interferes with the proper and efficient operation of the applicable grace periodBuilding, if any, or is in contravention of any other agreement of which Landlord is a party or to which Landlord is otherwise subject (and Landlord of which other agreement Tenant has been given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01notice).
(b) Bills If Landlord makes any expenditures, incurs any obligations for any expenses incurred by Landlord the payment of money in connection with therewith, or sustains or incurs any damages or fines, due to such nonobservance or non-performance by it for the account of Tenant, andincluding, if Landlord shall have been the successful party without limitation, reasonable attorneys' fees, court costs and disbursements in instituting, prosecuting or defending any action or suitproceeding, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting such sums paid or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenantincurred, together with interest at the Interest Rate or the maximum rate permitted by lawand costs, whichever is less, on all such costs and expenses from the date incurred until the date shall be paid by Tenant to Landlord, as Additional Rent, within five (5) days of rendition of any ▇▇▇▇ or statement to Tenant therefor.
(c) Tenant hereby waives Tenant's right, if any, to designate the items against which any payments made by Tenant to Landlord are to be credited and Landlord may apply any such payments to any items Landlord sees fit.
(d) For the purposes of this Section 20.01, a rent b111 sent by first class mail, to the address to which notices to be given under this Lease, shall be deemed a proper demand for the payment of the amounts set forth herein.
Section 20.02. If this Lease is terminated under the provisions of Article 18 hereof, or if Landlord shall reenter the Premises under the provisions of Article 19 hereof, Tenant agrees that:
(a) the Premises then shall be reimbursed by in the condition in which Tenant has agreed to surrender the same to Landlord to Tenant within thirty on the Expiration Date;
(30b) days after demand by Tenant therefor. In the event Landlord shall fail so to reimburse Tenant for such amounts within such thirty (30) day period, Tenant shall have the right performed prior to offset any such amounts against the next installment(s) termination any covenant of Fixed Rent and/or Additional Charges payable under Tenant contained in this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default Lease for the period required making of any Alterations or Tenant's Work or for cure would (A) subject Tenant to prosecution for a crime, (B) subject restoring or rebuilding the Premises or any part thereof or the Building or LandBuilding, or any part thereof; and
(c) for the breach of any covenant of Tenant set. forth above in this Section 20.02, Landlord shall be entitled immediately, without notice or other action by Landlord, to being condemned or vacated or recover, and Tenant shall pay, as and for liquidated damages therefor, the cost of performing such covenant (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required as estimated by Tenant for the conduct of its business in the Premisesan independent contractor selected by Landlord).
Appears in 1 contract
Curing Defaults. (a) If Tenant any Owner shall default in the performance of any of Tenant’s fail to perform its obligations under this LeaseAgreement or the Declaration, Landlord without thereby waiving and if the failure to perform such defaultobligations would adversely affect another Owner or an Occupant of any Unit not owned by such Owner or interfere with the efficient operation of the Building Common Elements, the Board may (but shall not be obligated to) perform the same such obligations for the account and at the expense of Tenantsuch Owner (a) immediately or at any time thereafter, and without notice notice, in a the case of emergency, and a failure which in any other case only if such default continues after the expiration judgment of the applicable grace periodBoard could result in personal injury or material property damage, if any, and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01.
or (b) Bills for any expenses incurred by Landlord in connection with any such performance by it for the account of Tenant, and, if Landlord shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 not less than fifteen (at the Interest Rate or the maximum rate permitted by law, whichever is less15) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default days’ notice in the performance case of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In the event Landlord shall fail so to reimburse Tenant for such amounts within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the defaultfailure, or, in the case of a default failure which for causes beyond such Owner’s control cannot with due diligence be cured within a said 15 day period, such longer period of thirty (30) days (a “Landlord Long-Term Cure Default”)time as shall be necessary, if Landlord shall not (x) within said thirty (30) day period advise Tenant provided that such Owner, promptly upon receipt of Landlordsuch notice from the Board, gives the Board notice of such Owner’s intention to take duly institute all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day periodfailure, and thereafter diligently prosecute prosecutes to completion all steps reasonably necessary to remedy the same. If the Board makes any expenditures or incurs obligations for the payment of money, including reasonable attorneys’ fees in instituting, prosecuting or defending any action or proceeding by reason of any default of such Landlord Long-Term Cure Owner, such sums paid or obligations incurred shall be charged to such Owner as a Building Expense and shall bear interest at the Default Rate from the date charged until the date paid. Notwithstanding clause (a) of the first sentence of this Section 8.10: (i) the Board shall use reasonable efforts to give prior notice (which may be oral) to any Occupant of any entry into the Unit it occupies pursuant to such clause (a), and (zii) complete such remedy within a reasonable time after the date of said notice of Tenant; providedBoard shall not enter any Unit pursuant to clause (a) unless the need to do so is immediate. The Board agrees that it will exercise its rights under this Section 8.10, however, that and enforce the foregoing extension performance by the Unit Owners of the cure period beyond thirty (30) days obligations referred to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would in this Section 8.10, (A) subject Tenant to prosecution for in a crimemanner consistent with the Building Standard, and (B) subject in a manner applicable to all Occupants in a non-discriminatory manner, notwithstanding any common ownership, contractual relationships or other commonality of interest between the Premises or Board and any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the PremisesOwner.
Appears in 1 contract
Curing Defaults. (a) If Tenant shall default defaults in the performance of any of Tenant’s its obligations under this LeaseLease after the expiration of any applicable cure periods, Landlord Landlord, without thereby waiving such default, may perform such obligation at Tenant's expense: (but shall not be obligated toa) perform immediately, and without notice, in the same for case of emergency or if the account and at default (i) materially interferes with the expense use by any other tenant of Tenantthe Building, without notice (ii) materially interferes with the efficient operation of the Building, (iii) results in a case violation of emergencyany federal, state or local law, rule, ordinance or regulation, or (iv) results or will result in a cancellation of any insurance policy maintained by Landlord, and (b) in any other case only if such default continues after twenty (20) days from the expiration date Landlord gives notice of Landlord's intention to perform the applicable grace defaulted obligation (or, if such default cannot be cured within such twenty (20) day period, if any, Tenant fails to diligently commence such cure within such twenty (20) day period). All costs and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01.
(b) Bills for any expenses incurred by Landlord in connection with any such performance by it and all costs and expenses, including reasonable counsel fees and disbursements, incurred by Landlord in any action or proceeding (including any unlawful detainer proceeding) brought by Landlord to enforce any obligation of Tenant under this lease and/or right of Landlord in or to the Premises, shall be paid by Tenant to Landlord on demand, with interest thereon at the rate provided in this Lease for past due sums from the date incurred by Landlord. Except as expressly provided to the contrary in this Lease, all costs and expenses which, pursuant to this Lease are incurred by Landlord and payable to Landlord by Tenant, and all charges, amounts and sums payable to Landlord by Tenant for any property, material, labor, utility or other services which, pursuant to this Lease or at the request and for the account of Tenant, andare provided, if Landlord furnished or rendered by Landlord, shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be become due and payable as Additional Charges by Tenant to Landlord in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been bills rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefor. In the event Landlord shall fail so to reimburse Tenant for such amounts within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premises.
Appears in 1 contract
Sources: Office Lease (Witness Systems Inc)
Curing Defaults. (a) If Tenant shall default in the performance of performing any of Tenant’s its obligations under this Leasehereunder, Landlord without thereby waiving such default, may (but shall not be obligated toso obliged), in addition to Landlord's other rights and remedies and without waiver of such default, cure such default on behalf of Tenant provided that Landlord shall have first given Tenant notice of such default and Tenant shall have failed within ten (10) days following said notice to cure or diligently to pursue the cure of said default (which notice and opportunity to cure shall not be required in case of emergency). Tenant, upon demand of Landlord, shall reimburse Landlord for all costs (including reasonable counsel fees) incurred by Landlord together with interest at the rate of ten percent (10%) per annum, with respect to such default, and, if Landlord so elects, Landlord's efforts to cure the same, which costs shall be deemed Additional Rent hereunder.
b) In the event that Landlord fails to maintain or repair those portions of the Premises for which Landlord is responsible or otherwise defaults under this Lease, Tenant shall provide written notice to Landlord detailing such failures. Landlord shall have thirty (30) days after receipt of such notice within which to cure such default (except when the cure requires more than thirty (30) days for performance and Landlord commences the cure within thirty (30) days and diligently pursues the cure to completion within sixty (60) days). If Landlord shall so be in default under this Lease after providing the aforesaid notice, then Tenant may perform the same for the account of Landlord. If Tenant makes expenditures or incurs costs, on Landlord's account (including reasonable attorneys' fees and at the expense of Tenantcosts in instituting, without notice in a case of emergency, and in any other case only if such default continues after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01.
(b) Bills for any expenses incurred by Landlord in connection with any such performance by it for the account of Tenant, and, if Landlord shall have been the successful party in prosecuting and/or defending any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is lessproceeding through appeal) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in repay Tenant the performance of any of Landlord’s sums or obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenantincurred, together with interest at the Interest Rate or rate of ten percent (10%) per annum, within fifteen (15) days following Tenant's invoice therefore. If such sums are not timely paid to Tenant, such sums may be offset against the maximum rate permitted by lawnext installments of Rent due hereunder, whichever is less, on all such costs and expenses from the date incurred until the date paid by balance is reduced to zero. Notwithstanding any other provision of this Lease, Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand by Tenant therefornot have any personal liability under this Lease. In the event of any default by Landlord shall fail so to reimburse Tenant for such amounts within such thirty (30) day period, Tenant shall have the right to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein , Tenant agrees to look solely to the term “equity or interest then owned by Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot Premises together with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day periodthe profits and proceeds therefrom, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date in no event shall any deficiency judgment or personal money judgment of said notice of Tenant; provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises any kind be sought or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premisesobtained against Landlord.
Appears in 1 contract
Sources: Lease Agreement (Viropharma Inc)
Curing Defaults. (a) If Tenant defaults in the performance of any of its obligations hereunder, Landlord may, without any obligation to do so and in addition to any other rights it may have in law or equity, elect to cure such default on behalf of Tenant after written notice (except in the case of emergency) to Tenant. Tenant shall reimburse Landlord upon demand for any sums paid or costs incurred by Landlord in curing such default, including interest thereon from the respective dates of Landlord's making the payments and incurring such costs, which sums and costs together with interest thereon shall be deemed Additional Rent payable within ten (10) days of demand.
b) Should Landlord default in the performance of any of Tenant’s obligations under this Leaseterms, Landlord without thereby waiving such default, may (but shall not be obligated to) perform the same for the account covenants and at the expense of Tenant, without notice in a case of emergency, and in any other case only if such default continues after the expiration of the applicable grace period, if any, and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01.
(b) Bills for any expenses incurred by Landlord in connection with any such performance by it for the account of Tenant, and, if Landlord shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination conditions of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) Tenant may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms give written notice of such bills. Notwithstanding anything default to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, Landlord as provided herein and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall cure any such default in the performance of respect to which it has been given notice without delay. Should Landlord fail to cure (or begin to cure and diligently pursue such cure) any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or the maximum rate permitted by law, whichever is less, on all such costs and expenses from the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after written notice has been given, Tenant may cure the same at the cost and expense of Landlord. Landlord shall reimburse Tenant upon demand for any sums paid or costs incurred by Tenant thereforin curing such default, including interest thereon from the respective dates of Tenant's making the payments or incurring such costs. In the event Landlord shall fail so fails to timely reimburse Tenant for within ten (10) days of demand, then Tenant, upon written notice to Landlord, may deduct such amounts within expense from the payment(s) of Rent next falling due, until such thirty (30) day periodamount has been fully reimbursed. The parties acknowledge and agree that in the event of an emergency presenting a threat of damage or harm to persons or property, Tenant shall have attempt to contact Landlord if time permits, but shall not be required to provide Landlord with notice or an opportunity to make repairs or to take other remedial measures before exercising the right self help and (if Landlord fails to offset such amounts against the next installment(s) of Fixed Rent and/or Additional Charges payable under this Lease. As used herein the term “Landlord Applicable Cure Period” shall mean thirty make payment within ten (3010) days after Tenant shall have given to Landlord a notice specifying of demand , as aforesaid) the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”), if Landlord shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said notice of Tenant; offset remedies hereinabove provided, however, that the foregoing extension of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply if the continuance of such Landlord Long-Term Cure Default for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease, or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct of its business in the Premises.
Appears in 1 contract
Sources: Office Space Lease (Cdnow N2k Inc)
Curing Defaults. If either party is required to perform or comply with any agreement or provision hereof and shall fail to do so within the time provided therefor (aor if no time is provided therefore, then within thirty (30) If Tenant days after written demand for compliance shall have been received by any party hereto from the other, unless such default shall be of such nature that same cannot be completely cured within such thirty (30) day period but the curing thereof has been commenced within the said thirty (30) day period and shall thereafter be continued with reasonable diligence) then, in such case, upon the expiration of the time provided in this Article for the performance or compliance therewith or for the curing of any of Tenant’s obligations under this Leasesame, Landlord without thereby waiving such default, the party demanding compliance may (but shall not be obligated to) perform the same and comply therewith for the account and at the expense of Tenantthe party failing to do so; and the party failing to do so, without notice in a case immediately upon receipt of emergency, and in any other case only if such default continues after the expiration an itemized invoice of the applicable grace periodcost and expense thereof, if any, agrees to promptly pay the reasonable cost and Landlord has given to Tenant at least ten (10) days prior notice of its intention to take action under this Section 27.01.
(b) Bills for any expenses expense incurred by Landlord in connection with any such performance by it for the account of Tenantother party hereto, and, if Landlord shall have been the successful party in any action or suit, bills for all costs, expenses and disbursements of every kind and nature whatsoever, including reasonable counsel fees, involved in collecting or endeavoring to collect the Fixed Rent or Additional Charges or any part thereof or enforcing or endeavoring to enforce any rights against Tenant or Tenant’s obligations hereunder, under or in connection with this Lease or pursuant to law, including any such cost, expense and disbursement involved in instituting and prosecuting summary proceedings or in recovering possession of the Premises after default by Tenant or upon the expiration or sooner termination of this Lease, and interest on all sums advanced by Landlord under this Section 27.01 (at the Interest Rate or the maximum rate permitted by law, whichever is less) may be sent by Landlord to Tenant monthly, or immediately, at its option, and such amounts shall be due and payable as Additional Charges in accordance with the terms of such bills. Notwithstanding anything to the contrary contained in this Section, Tenant shall have no obligation to pay Landlord’s costs, expenses, or disbursements in any proceeding in which there shall have been rendered a final judgment against Landlord, and the time for appealing such final judgment shall have expired.
27.02. If Landlord shall default in the performance of any of Landlord’s obligations under this Lease, Tenant, without thereby waiving such default, may (but shall not be obligated to) perform the same for the account and at the expense of Landlord, without notice in a case of emergency, and in any other case only if such default shall continue and not be remedied within the “Landlord Applicable Cure Period” (as such term is hereinafter defined), and Tenant has given at least ten (10) days prior notice to Landlord of its intention to take action under this Section 27.02. All reasonable costs and expenses incurred by Tenant in connection with any such performance by it for the account of Landlord, and any expenses referred to in Section 27.03 hereof incurred by Tenant, together with interest at the Interest Rate or rate of eight (8%) percent per annum to the maximum rate permitted by lawdate payment is received. Should the Tenant be the party failing to make such payment, whichever is less, on all such costs the cost and expenses from thereof shall be charged to Tenant as additional rent, which shall be paid by the Tenant on the next rent payment date following the date incurred until the date paid by Landlord shall be reimbursed by Landlord to Tenant within thirty (30) days after demand of receipt by Tenant therefor. In such invoice, and in the event such additional rent shall not be paid when due, it may be collected in the same manner as is herein provided for the collection of rent. Should the Landlord shall fail so be the party failing to reimburse Tenant for make such amounts within such thirty (30) day periodpayment to the Tenant, Tenant then the Tenant, without impairing or affecting any other of its rights, shall have the right to offset withhold payment of all rent, and additional rent if any, until Tenant has recouped all such amounts against costs and expenses, with interest as aforesaid, to the next installment(s) of Fixed Rent and/or Additional Charges payable under this Leasedate full payment is received. As used herein the term “Landlord Applicable Cure Period” shall mean thirty (30) days after Tenant shall have given to Landlord a notice specifying the default, or, in the case of a default which cannot with due diligence be cured within a period of thirty (30) days (a “Landlord Long-Term Cure Default”)In any such case, if Landlord is in default hereunder, Tenant, without impairing or affecting any other rights it may have for damages or otherwise, shall not (x) within said thirty (30) day period advise Tenant of Landlord’s intention have the right to take all steps reasonably necessary to remedy such Landlord Long-Term Cure Default, (y) duly commence within said thirty (30) day period, cancel and thereafter diligently prosecute to completion all steps reasonably necessary to remedy such Landlord Long-Term Cure Default and (z) complete such remedy within a reasonable time after the date of said terminate this lease by giving written notice of Tenant's election to do so; provided, however, that and upon giving such notice the foregoing extension life of this lease shall cease and come to an end as of the cure period beyond thirty (30) days to cure a Landlord Long-Term Cure Default shall not apply date set forth in said notice, with the same force and effect as if the continuance of such Landlord Long-Term Cure Default date set forth were the date originally fixed for the period required for cure would (A) subject Tenant to prosecution for a crime, (B) subject the Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated or (C) result in the termination of the Unit Lease7 term and of any extended term thereof. In computing the time within which either party is required to comply with any covenant, agreement or (D) prevent Tenant from performing or completing any Alterations required by Tenant for the conduct provision of its business in the Premisesthis lease, there shall be excluded therefrom periods of reasonable delay on account of war, "labor troubles", "Acts Of God" and other unavoidable delays.
Appears in 1 contract