Common use of Default by Landlord Clause in Contracts

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 2 contracts

Sources: Lease Agreement (Fusion-Io, Inc.), Lease Agreement (Fusion-Io, Inc.)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after receipt of written notice from Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any first mortgage or deed of trust covering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying that Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failureobligation is such that more than thirty (30) days are reasonably required for performance then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. If, however, In the failure canevent Landlord does not reasonably be cured commence performance of any maintenance or repair required of Landlord hereunder within the thirty (30) day periodperiod provided herein, Landlord shall not be and in default hereunder if Landlord the event that such maintenance or Landlord’s Mortgagee commences repair relates to cure the failure improvements which are wholly within the thirty Premises (30) days not including any building core systems or equipment), Tenant may perform such maintenance or repair, and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights prompt reimbursement by Landlord of Tenant’s reasonable costs and remedies provided expenses in taking such action, together with interest thereon at the Agreed Rate. Tenant waives any right to terminate this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding vacate the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Premises on Landlord’s default of under this Lease. Tenant’s sole remedy on Landlord’s obligations under this Lease default is an action for damages or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment injunctive or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderdeclaratory relief.

Appears in 2 contracts

Sources: Triple Net Space Lease, Triple Net Space Lease (Imprivata Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence In the event of any alleged default by Landlord under this LeaseLandlord, unless Landlord fails to perform any of its obligations hereunder and said failure which default continues for a period of more than thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address receipt of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingfrom Tenant specifying such default (except in case of emergency in which case no notice shall be required or unless a shorter or longer cure period for a Landlord default is otherwise provided for in this Lease), with reasonable particularityor if such default requires more than thirty (30) days for remedy, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured then if Landlord fails to commence curing such default within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord period or Landlord’s Mortgagee commences fails to cure the failure within the thirty (30) days and thereafter pursues the diligently continue curing of same diligently to completion. Upon any such default by Landlord until completion, then Tenant, in addition to all other rights or remedies which Tenant is entitled to under this Lease which remains uncured after the expiration of the foregoing notice and cure periodsLease, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights may, at its option, incur any reasonable expense necessary to perform the obligation of Landlord. If Tenant incurs any actual and remedies reasonable costs and expenses in connection with the foregoing, Tenant shall have the right, subject to Section 29 below, to be reimbursed by Landlord for such actual and reasonable costs within thirty (30) days after Landlord’s receipt of the applicable invoices and such other back-up information as Landlord may reasonably request evidencing the actual and reasonable costs incurred for such matter. In the event that Landlord does not reimburse Tenant within such time period, Landlord shall be cumulative required to pay interest on such actual and none shall be exclusive of each otherreasonable costs and expenses at the Default Rate. Notwithstanding any provision of this Lease, none of Landlord or any Landlord Party shall at any time have any personal liability under this Lease. In the foregoing event of any breach or anything in default by Landlord of any term or provision of this Lease Lease, Tenant agrees to look solely to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary equity or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of then owned by Landlord in the Complex as the same may then be encumberedBuilding, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such defaultdeficiency judgment be sought or obtained against Landlord. In no event shall Landlord be liable for indirect, judgment consequential, or award punitive damages or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderfor damages based on lost profits.

Appears in 2 contracts

Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (McClatchy Co)

Default by Landlord. Landlord shall not be liable to Tenant if ------------------- Landlord is unable to fulfill any of its obligations under this Lease if Landlord is prevented, delayed or curtailed from so doing by reason of any cause beyond Landlord's reasonable control. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of reasonable time, but in no event later than thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingby Tenant to Landlord, with reasonable particularityspecifying Landlord's failure to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day perioddays are required for performance, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter pursues the curing of same diligently prosecutes its efforts to completionsatisfy such obligation. Upon Tenant may not offset against any such default by Landlord rent or other amount due from Tenant under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall any amount due or claimed to be entitled to exercise all rights and remedies provided in this Lease or available due to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease from Landlord whether arising pursuant to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) . Any notice to Landlord by Tenant of Landlord's default under this Lease shall also be limited solely concurrently provided by registered or certified mail, to Tenant’s actual direct damages any holder of a mortgage or similar security instrument covering the Premises, whose address shall have been furnished to Tenant (and not Consequential Damages"Mortgagee Notice"). The Mortgagee's Notice shall offer such mortgagee a reasonable opportunity to cure the default, and shall be satisfied only out including the time to obtain possession of the interest Premises by power of Landlord in the Complex as the same may then sale or judicial foreclosure, if such action should be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such necessary to cure Landlord's default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 2 contracts

Sources: Office Building Lease (Physicians Quality Care Inc), Office Building Lease (Physicians Quality Care Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after receipt of written notice from Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any first mortgage or deed of trust covering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying that Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failureobligation is such that more than thirty (30) days are reasonably required for performance then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. If, however, In the failure canevent Landlord does not reasonably be cured commence performance of any maintenance or repair required of Landlord hereunder within the thirty (30) day periodperiod provided herein, Landlord shall not be and in default hereunder if Landlord the event that such maintenance or Landlord’s Mortgagee commences repair relates to cure the failure improvements which are wholly within the thirty Premises (30) days not including any Building core systems or equipment), Tenant may perform such maintenance or repair, and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights prompt reimbursement by Landlord of Tenant’s reasonable costs and remedies provided expenses in taking such action, together with interest thereon at the Agreed Rate. Tenant waives any right to terminate this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding vacate the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Premises on Landlord’s default of under this Lease. Tenant’s sole remedy on Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct default is an action for damages (and not Consequential Damages), and shall be satisfied only out subject to the terms of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (bArticle XVI hereof) in no event shall Tenant have the right in connection with any such default, judgment or award injunctive or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderdeclaratory relief.

Appears in 2 contracts

Sources: Triple Net Space Lease (Cloudera, Inc.), Triple Net Space Lease (Cloudera, Inc.)

Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; ▇▇▇▇▇▇’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything in this Lease to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in the immediately succeeding paragraph, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by ▇▇▇▇▇▇▇▇. Notwithstanding anything to the contrary contained in this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless if Landlord fails to perform any of its repair and/or maintenance obligations hereunder under Subparagraph 13(b) of this Lease and said failure continues for does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that ▇▇▇▇▇▇’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): “LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a period default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. ▇▇▇▇▇▇▇▇ agrees to reimburse Tenant, within thirty (30) days after Tenant gives Landlord following ▇▇▇▇▇▇▇▇’s receipt of a written statement, for all reasonable and (provided that Tenant shall have been given the name and address actual costs incurred by ▇▇▇▇▇▇ in performing such obligations on behalf of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, . If Landlord fails to pay such amount prior to the nature expiration of Landlord’s failure. If, however, the failure cannot reasonably be cured within the such thirty (30) day period, Tenant may at its election bring an action for damages against Landlord shall not be on account thereof. In the event Tenant is able to obtain a unappealable monetary judgment against Landlord from a court of competent jurisdiction in default hereunder if connection with said action (the “Judgment”) and Landlord or Landlord’s Mortgagee commences fails to cure pay the failure amount of such Judgment (the “Judgment Amount”) within the thirty (30) days following entry of such Judgment by the court, then and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with to offset the Judgment Amount against up to twenty-five percent (25%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderoffset.

Appears in 2 contracts

Sources: Standard Industrial Lease, Standard Industrial Lease (Solyndra, Inc.)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Lease if Landlord fails to perform any of its obligations hereunder and said such failure continues for a period of thirty (30) days after Tenant gives delivers written notice of such failure to Landlord and (provided that Tenant shall have been given to the holder(s) of any indebtedness or other obligations secured by any mortgage or deed of trust affecting the Premises, the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingwhich have been provided to Tenant in writing, with reasonable particularity, the nature of Landlord’s failure. If, however, the provided that if such failure cannot reasonably be cured within the such thirty (30) day period, Landlord shall not be in default hereunder as long as Landlord or such holder(s) commences the remedying of such failure within such thirty-day period and diligently prosecutes the same to completion, during which time Landlord and such holder(s), or either of them, or their agents or employees, shall be entitled to enter upon the Premises and do whatever may be necessary to remedy such failure. If, except for the passage of time, Tenant would have the right under the provisions of this Section 27 to cure a default by Landlord and the default is one wherein an emergency situation exists, then Tenant may cure the default to the extent reasonably necessary under the circumstances without the need to provide the otherwise required notice and/or to await the otherwise prescribed time. If an event of default of Landlord relating to the Complex occurs and the same can be cured and if Landlord or Landlord’s Mortgagee commences is not exercising diligence to cure the same, Tenant may, subject to any approval the holder(s) of any indebtedness or other obligations secured by any mortgage or deed of trust affecting the Complex, but shall not be obligated to, cure the same in whole or in part and upon receipt of a statement of the costs reasonably incurred by Tenant, Landlord shall forthwith pay the same to Tenant with interest from the date the statement was received by Landlord to the date payment in full is made to Tenant at the Default Rate. In addition, if Tenant is the prevailing party, Tenant may recover from Landlord all reasonable and actual legal fees, costs and expenses (including paralegal fees, expert fees, and other professional fees and expenses) Tenant incurs investigating, negotiating, settling or enforcing any of Tenant’s rights or remedies under this Lease. In the event of a default by Landlord as provided in this Section 27, Tenant may exercise any and all remedies given hereunder or by Laws or equity; provided, however, in no instance will Landlord be liable to Tenant for special or punitive damages for a failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such perform or a default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderLease.

Appears in 2 contracts

Sources: Office Lease Agreement, Office Lease Agreement (FSP 50 South Tenth Street Corp)

Default by Landlord. Landlord shall not be deemed to be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence ------------------- breach in the performance of any alleged default obligation required to be performed by Landlord under this Lease, Lease unless Landlord fails and until it has failed to perform any of its obligations hereunder and said failure continues for a period of such obligation within thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingby Tenant to Landlord specifying that Landlord has failed to perform such obligation; provided, with reasonable particularity, however that if the nature of Landlord’s failure. If's obligation is such that more than thirty (30) days are required for its performance, however, the failure canthen Landlord shall not reasonably be cured deemed to be in default or breach if it shall commence such performance within the such thirty (30) day periodperiod and thereafter diligently prosecute the same to completion. Tenant shall have no right to terminate this Lease, except where Landlord fails to cure a material breach within the time periods set forth in the immediately preceding sentence. No default or breach on the part of Landlord that would entitle Tenant under the terms of this Lease or by law to terminate this Lease shall not be result in a termination of this Lease unless (i) Tenant has given written notice of such default hereunder if Landlord or Landlord’s Mortgagee commences breach by registered or certified mail to any beneficiary of a deed of trust or mortgagee of a mortgage covering the Premises whose address shall have been furnished to Tenant and (ii) Tenant offers such beneficiary or mortgagee the same opportunity to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently default or breach as is available to completion. Upon any such default by Landlord under the express terms of this Lease which remains uncured after the expiration of the foregoing notice Lease. It is expressly understood and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of agreed that any money judgment against Landlord under this Lease (including with respect to resulting from any monetary default or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations claim arising under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and related thereto shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s 's equity interest in the Complex. The foregoingPremises, howeverand no other real, personal or mixed property of Landlord, wherever situated, shall be subject to levy on any such judgment obtained against Landlord and if such equity interest in the Premises is insufficient for the payment of such judgment, Tenant will not limit institute any further action, suit, claim or demand, in law or in equity, against Landlord for the amount of such deficiency. Tenant hereby waives, to the extent waivable under law, any right that Tenant might have to obtain specific performance of satisfy said money judgment against Landlord except from Landlord’s obligations hereunder's equity interest in the Premises.

Appears in 2 contracts

Sources: Office Lease (Chemdex Corp), Office Lease (Chemdex Corp)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after written notice by Tenant gives to Landlord (except in cases of emergency in which case Landlord’s obligations hereunder shall be performed as soon as reasonably practicable) and (provided that Tenant to the holder of any mortgage or deed of trust covering the Premises whose name and address shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingpreviously furnished to Tenant in writing specifying what obligation Landlord has failed to perform; provided, with reasonable particularityhowever, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligation is such that more than thirty (30) day period, days is required for performance then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in In no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance terminate this Lease as a result of Landlord’s obligations hereunderdefault. In addition to the above, if L▇▇▇▇▇▇▇ fails to cure such Landlord default within the Landlord cure period, or fails to commence to cure within the Landlord cure period and thereafter diligently pursue the same to completion, as applicable, Tenant may, but shall have no obligation to do so, perform the same for the account of Landlord. Landlord shall, within thirty (30) days of demand therefor, at L▇▇▇▇▇▇▇’s election, either (i) credit against T▇▇▇▇▇’s obligation to pay Basic Rent the documented, out-of-pocket costs reasonably incurred by Tenant in curing such Landlord default, or (ii) reimburse Tenant the documented, out-of-pocket costs reasonably incurred by Tenant in curing such Landlord default together with interest thereon at the Default Rate from the date demanded by T▇▇▇▇▇.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Polarityte, Inc.), Lease Agreement (Polarityte, Inc.)

Default by Landlord. Except as otherwise provided in the state’s statutes governing Landlord shall not be in default under this LeaseTenant Law, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as if there is a consequence of any alleged default material noncompliance by Landlord under with this LeaseRental Agreement, unless Tenant may deliver a written notice to the Landlord fails to perform any of its obligations hereunder specifying the acts and said failure continues for omissions constituting the breach and that the Rental Agreement will terminate upon a period of periodic rent-paying date not less than thirty (30) days after receipt of the notice. The Rental Agreement shall terminate as provided in the notice, subject to the following: (1) If the breach is remediable by repairs or the payment of damages or otherwise, and Landlord adequately initiates a good faith effort to remedy the breach within fourteen (14) days after receipt of the notice, the Rental Agreement shall not terminate. However, in the event that the same or a similar breach occurs after the 14-day period provided therein, Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee may deliver a written notice thereof specifying, with reasonable particularity, to Landlord specifically describing the nature of Landlord’s failure. If, however, breach and stating that the failure canRental Agreement shall terminate upon a periodic rent- paying date not reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the less than thirty (30) days after the receipt of such notice by Landlord. The Rental Agreement shall then terminate as provided in such notice. (2) Tenant may not terminate for a condition caused by an act or omission of, or which is or can be properly attributable to or applicable to, Tenant or any person on the Premises at any time with Tenant’s express or implied permission or consent. Except as otherwise provided in the State’s Statutes governing Landlord Tenant Law, Tenant may recover damages and thereafter pursues the curing of same diligently to completion. Upon obtain injunctive relief for any such default noncompliance by Landlord under this Lease which remains uncured after with the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies Rental Agreement. The remedy provided in this Lease or available to Tenant at law or in equity, which rights and remedies paragraph shall be cumulative and none shall be exclusive in addition to any right of each other. Notwithstanding the foregoing or anything Tenant arising earlier in this Lease to Section 18. If the contrary: (a) the liability of Rental Agreement is terminated, Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out return that portion of the interest of security deposit recoverable by “X” under the State’s Residential Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the ComplexAct. The foregoing, however, provisions of this Section 18 shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderor Tenant’s right to terminate this Rental Agreement pursuant to State’s Statutes governing Landlord Tenant Law, and amendments thereto.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any mortgage or deed of trust encumbering the Project whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day perioddays are required for its cure, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in In no event shall Tenant have the right to terminate this Lease as a result of Landlord's default, and Tenant's remedies shall be limited to damages and/or an injunction. Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. This Lease and the obligations of Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in connection with doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord's performance shall be extended for the period of any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderdelay.

Appears in 2 contracts

Sources: Standard Office Lease (Redaptive, Inc.), Lease Agreement (Noosh Inc)

Default by Landlord. Landlord shall be in default of the performance of its obligations under this Lease if Landlord defaults in the performance or observation of any agreement, liability, or obligation imposed on it by this Lease and Landlord fails to cure such default within thirty (30) days after written notice by Tenant to Landlord specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligations is such that more than thirty (30) days are required for performance then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently and continuously prosecutes the same to completion (a “Landlord’s Default”). Upon the occurrence of a Landlord’s Default under this Lease, Tenant, at its option, without further notice or demand, and Tenant shall not be entitled without limiting its right to exercise receive any rightlate delivery payments in connection with Landlord’s delivery of the Leased Premises as specified above, may: (a) pursue the remedy of specific performance or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, injunction; (b) seek declaratory relief; (c) pursue an action for actual and direct damages for loss; and (d) unless Landlord fails such Landlord’s Default results from Landlord’s failure to perform any construction obligations hereunder, but including without limitation repair and maintenance obligations of its obligations hereunder and said failure continues Landlord, take reasonable measures to cure such Landlord’s Default to the extent relating to the repair or maintenance of the Leased Premises on Landlord’s account, in which event Landlord shall reimburse Tenant for a period of any actual out-of-pocket reasonable costs or contractual liability incurred by Tenant in connection with such cure (including reasonable attorneys’ fees) within thirty (30) days after Tenant gives Landlord and (of Landlord’s receipt of a written demand, statement or invoice, including reasonable back-up documentation; provided that Tenant shall have been given the name right to withhold from its payments of Basic Annual Rent and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the Additional Rent any such amounts that remain unreimbursed by Landlord beyond such thirty (30) day periodperiod until all such amounts have been fully reimbursed, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available amounts not paid to Tenant when due shall accrue interest thereafter at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderDefault Rate.

Appears in 2 contracts

Sources: Lease Agreement (Healthequity Inc), Lease Agreement (Healthequity Inc)

Default by Landlord. Except as otherwise provided in the state’s statutes governing Landlord shall not be in default under this LeaseTenant Law, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as if there is a consequence of any alleged default material noncompliance by Landlord under with this LeaseLease and Sublease Agreement, unless Tenant may deliver a written notice to the Landlord fails to perform any of its obligations hereunder specifying the acts and said failure continues for omissions constituting the breach and that the Lease and Sublease Agreement will terminate upon a period of periodic rent-paying date not less than thirty (30) days after receipt of the notice. The Lease and Sublease Agreement shall terminate as provided in the notice, subject to the following: (1) If the breach is remediable by repairs or the payment of damages or otherwise, and Landlord adequately initiates a good faith effort to remedy the breach within fourteen (14) days after receipt of the notice, the Lease and Sublease Agreement shall not terminate. However, in the event that the same or a similar breach occurs after the 14-day period provided therein, Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee may deliver a written notice thereof specifying, with reasonable particularity, to Landlord specifically describing the nature of Landlord’s failure. If, however, breach and stating that the failure canLease and Sublease Agreement shall terminate upon a periodic rent-paying date not reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the less than thirty (30) days after the receipt of such notice by Landlord. The Lease and thereafter pursues Sublease Agreement shall then terminate as provided in such notice. (2) Tenant may not terminate for a condition caused by an act or omission of, or which is or can be properly attributable to or applicable to, Tenant or any person on the curing of same diligently to completionPremises at any time with Tenant’s express or implied permission or consent. Upon Except as otherwise provided in the State’s Statutes governing Landlord Tenant Law, Tenant may recover damages and obtain injunctive relief for any such default noncompliance by Landlord under this with the Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies Sublease Agreement. The remedy provided in this Lease or available to Tenant at law or in equity, which rights and remedies paragraph shall be cumulative and none shall be exclusive in addition to any right of each other. Notwithstanding the foregoing or anything Tenant arising earlier in this Section 18. If the Lease to the contrary: (a) the liability of and Sublease Agreement is terminated, Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out return that portion of the interest of security deposit recoverable by Tenant under the State’s Residential Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the ComplexAct. The foregoing, however, provisions of this Section 18 shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderor Tenant’s right to terminate this Lease and Sublease Agreement pursuant to State’s Statutes governing Landlord Tenant Law, and amendments thereto.

Appears in 2 contracts

Sources: Lease and Sublease Agreement, Lease and Sublease Agreement

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of reasonable time, but in no event earlier than thirty (30) days after written notice by Tenant gives to Landlord and to the holder of any first mortgage or deed of trust covering the Premises (provided that ▇▇▇▇▇▇▇▇ has provided Tenant shall have been given the name and address of Landlord’s Mortgageesuch holder) Landlord’s Mortgagee written notice thereof specifyingspecifying wherein Landlord has failed to perform such obligations; provided, with reasonable particularityhowever, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligations is such that more than thirty (30) day perioddays are required for performance, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon any such If Landlord is in default by of this Lease, ▇▇▇▇▇▇’s sole remedy shall be to institute suit against Landlord under this Lease which remains uncured after the expiration in a court of the foregoing notice competent jurisdiction, and cure periods, Tenant shall be entitled have no right to exercise all rights and remedies provided in this Lease or available to offset any sums expended by Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive as a result of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default against future rent and other sums due and payable pursuant to this Lease. If Landlord is in default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages)Lease, and as a consequence Tenant recovers a money judgment against Landlord, the judgment shall be satisfied only out of the proceeds of sale received on execution of the judgment and levy against the right, title and interest of Landlord in the Complex Project of which the Premises are a part, and out of rent or other income from such real property receivable by Landlord or out of the consideration received by Landlord from the sale or other disposition of all or any part of Landlord’s right, title and interest in the Project of which the Premises are a part. Neither Landlord nor any of the partners comprising the partnership designated as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be personally liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Lease (Hemosense Inc)

Default by Landlord. In the event of any alleged default on the part ------------------- of Landlord, Tenant shall give notice to Landlord and afford Landlord a reasonable opportunity to cure such default. Such notice shall be ineffective unless a copy is simultaneously also delivered in the manner required in this Lease to any holder of a mortgage and/or deed of trust affecting all or any portion of the Building Complex (collectively, "Mortgagee"), provided that prior to such notice Tenant has been notified (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of a Mortgagee. If Landlord fails to cure such default within the time provided, then Mortgagee shall have an additional 30 days following a second notice from Tenant or, if such default cannot be cured within that time, such additional time as may be necessary provided within such 30 days, Mortgagee commences and diligently pursues a cure (including commencement of foreclosure proceedings if necessary to effect such cure). If such default is in default Landlord's failure to make repairs, provide essential services or pay utility bills as are required under this Lease, and then following such applicable cure period, Tenant may (but shall not be entitled obligated to) make such repairs (in such manner as to exercise any rightnot to void applicable warranties), remedy provide services or recourse against Landlord or otherwise pay such bills as a consequence are reasonably required to cure such default on behalf of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Landlord shall reimburse Tenant shall have been given within 30 days of receipt of Tenant's invoice the name full amount of such reasonable out-of-pocket cost and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. Ifexpense incurred by Tenant; provided, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder that if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any disputes that such default exists or disputes the reasonableness of the amount to be paid, by Landlord under this Lease which remains uncured after notice to Tenant prior to the expiration of the foregoing notice 30 day period, then Landlord shall have no obligation to pay such amount until Tenant has obtained a final non-appealable court judgment that such sum was due and cure periodspayable to Tenant under the terms of this Section 21 and wrongfully withheld by Landlord. If any such repairs will affect the HVAC, plumbing, electrical or mechanical systems of the Building (the "Building Systems"), the structural integrity of the Building, or the exterior appearance of the Building, Tenant shall use only those contractors used by Landlord in the Building for work on the Building Systems, or its structure, and Landlord shall provide Tenant (upon Tenant's request) with notice identifying such contractors and any changes to the list of such contractors, unless such contractors are unwilling or unable to perform such work or the cost of such work is not competitive, in which event Tenant may utilize the services of any other qualified contractors which normally and regularly performs similar work on comparable buildings. To the extent any sum thus reimbursed to Tenant by Landlord represents an amount that would have been included in the Operating Expenses of the Building if paid by Landlord to perform the obligation in question, Landlord shall be entitled to exercise all rights and remedies provided include in this Lease Operating Expenses the sum reimbursed to Tenant. Tenant's sole additional remedy will be equitable relief or available actual damages but in no event is Landlord or any Mortgagee responsible for consequential damages or lost profit incurred by Tenant as a result of any default by Landlord. If a Mortgagee, or transferee under such Mortgage (hereafter defined), succeeds to Tenant at law Landlord's interest as a result of foreclosure or in equityotherwise, which rights and remedies such party shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrarynot be: (ai) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiencydefault, nor subject to any setoff or defenses that Tenant may have against Landlord (but such limitation shall not relieve such party from the responsibility to perform the obligations as successor to Landlord ongoing during its period of ownership); (ii) bound by any amendment (including an agreement for early termination) without its consent made at any time after notice to Tenant that such Mortgage requires such consent; and (biii) bound by payment of Rent in no event shall advance for more than 30 days. Tenant have the right agrees to pay Rent (and will receive credit under this Lease) as directed in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance Mortgagee's notice of Landlord’s obligations hereunder's default under the Mortgage reciting that Mortgagee is entitled to collect Rent.

Appears in 1 contract

Sources: Lease Agreement (Lifeminders Inc)

Default by Landlord. Landlord shall not be deemed to be in default under of this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Lease if Landlord fails to perform make any of its obligations hereunder payments to Tenant required under this Lease and said such failure continues for a period ten (10) days after written notice from Tenant to Landlord, or if Landlord shall be in default in the prompt and full performance of any other of its promises, covenants or agreements contained in this Lease and such default in performance continues for more than thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, from Tenant to Landlord specifying the nature particulars of Landlord’s failure. Ifsuch default or breach of performance; provided, however, that if the failure default complained of, other than for the payment of monies, is of such a nature that the same cannot reasonably be rectified or cured within the such thirty (30) day period, Landlord then such default shall not be in default hereunder deemed to be rectified or cured if Landlord or Landlord’s Mortgagee commences to cure the failure , within the such thirty (30) days day period, shall have commenced such cure and shall continue thereafter pursues the curing of same diligently with due diligence to completioncause such cure to be completed. Upon any such default by Landlord under of this Lease which remains uncured after the expiration of the foregoing notice and cure periodsby Landlord, Tenant shall be entitled to exercise pursue any and all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything foregoing, Tenant’s notice under this Section 21 shall be ineffective unless a copy is simultaneously also delivered in the manner required in this Lease to any Mortgagee, provided that prior to such notice Tenant has been notified (in accordance with Section 29 herein), of the contrary: address of a Mortgagee. If Landlord fails to cure such default within the time provided, then Mortgagee shall have an additional thirty (a30) the liability of Landlord under this Lease days following a second notice from Tenant or, if such default cannot be cured within that time, such additional time as may be reasonably necessary, provided within such thirty (30) days Mortgagee commences and diligently pursues a cure (including with respect commencement of foreclosure proceedings if necessary to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to effect such cure). Tenant’s sole remedy will be equitable relief or actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) but in no event shall is Landlord or any Mortgagee responsible for consequential damages or lost profit incurred by Tenant have the right in connection with as a result of any such default, judgment or award or otherwise to levy execution against any property of Landlord other than default by Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Lease (Constant Contact, Inc.)

Default by Landlord. (a) Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of reasonable time, but in no event later than thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingby Tenant to Landlord specifying wherein Landlord has failed to perform such obligation: provided, with reasonable particularityhowever, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day period, days are required for performance then Landlord shall not be in default hereunder if in Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such to terminate this Lease as a result of Landlord's default, judgment and Tenant's remedies shall be limited to damages. (b) ▇▇ould Landlord fail to observe or award perform any of the covenants or otherwise conditions contained in the Lease, Tenant shall give written notice to levy execution all beneficiaries of deeds of trust recorded against any the real property of which the Premises are a part, setting forth the nature of Landlord's default. Such lenders shall have a reasonable period of time to cure the default and perform any act which may be necessary to prevent the forfeiture of the rights of Landlord other than under this Lease and a termination of this Lease as if the payments and acts were performed by Landlord instead of by the lenders. If the lenders cannot reasonably lake the action required to cure Landlord’s 's default without foreclosing Landlord's interest and being in possession of the ComplexBuilding, the time within which the default must be cured to avoid a termination of forfeiture of the Lease shall be extended to include the period of time required for such lenders to obtain possession and to effect a cure with due diligence if such lender gives Tenant a written agreement to cure the default. The foregoingIn the absence of title lenders' express written consent, however, such an agreement by the lenders shall not limit be considered an assumption by the lenders of Landlord's other obligations under the Lease and Landlord shall remain solely liable for the performance of all terms, covenants and conditions of the Lease both prior and subsequent to the lenders' exercise of any right that Tenant might have to obtain specific performance cure or waiver of Landlord’s obligations hereundera breach or default under the r7ote, deed of trust, or any other instrument given as security.

Appears in 1 contract

Sources: Lease Agreement (FNB Bancorp/Ca/)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform obligations required of Landlord within a reasonable time, but in no event later than (i) with respect to Landlord’s failure to pay any of its obligations amounts due to Tenant hereunder and said failure continues for on a period of date as to which Tenant has given Landlord at least thirty (30) days’ prior written notice, five (5) business days of notice from Tenant that the same was not paid when due, (ii) with respect to Landlord’s failure to perform any other of its obligations hereunder, ten (10) business days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any first mortgage or deed of trust covering the Premises whose name and address of Landlord’s Mortgageeshall have theretofore been furnished to Tenant in writing, specifying that Landlord has failed to perform such obligation; provided, however, in connection with a matter covered by clause (ii) Landlord’s Mortgagee written notice thereof specifyingabove, with reasonable particularity, if the nature of Landlord’s failure. If, however, the failure cannot obligation is such that more than ten (10) business days are reasonably be cured within the thirty (30) day period, required for performance then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the thirty such ten (3010) days business day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon Tenant waives any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled right to exercise all rights and remedies provided in terminate this Lease or available to Tenant at law vacate the Premises on Landlord’s default under this Lease. Tenant’s sole remedy on Landlord’s default is an action for damages or injunctive or declaratory relief. Notwithstanding the foregoing, nothing herein shall be deemed applicable in equitythe event of Landlord’s delay in delivery of the Premises. In that situation, which all rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord determined under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderSection 3.1 above.

Appears in 1 contract

Sources: Triple Net Lease (C3.ai, Inc.)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of reasonable time, but in no event later than thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any first mortgage covering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligation is such that more than thirty (30) day perioddays are required for performance, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon If Landlord fails to cure any such default by within the time periods set forth above, Tenant’s sole remedies will be to commence an action against Landlord under this Lease which remains uncured after the expiration (i) seeking specific performance of the foregoing notice obligation or obligations hereunder with respect to which Landlord is in default if Tenant does not have an adequate remedy at law, or (ii) seeking recovery of actual damages (but excluding any punitive and cure periods, consequential damages) incurred by Tenant shall as the direct result of Landlord’s default. Tenant will not be entitled to exercise all rights and remedies provided in any right of deduction, offset, self-help or any right to terminate this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive as a result of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for uncured default hereunder by Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Lease (Parnell Pharmaceuticals Holdings Pty LTD)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided agrees that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder unless Landlord fails to perform the obligations, if any, required of Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days after written notice by Tenant to Landlord and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) holder of any first mortgage or deed of trust covering the liability of Landlord under this Lease (including with respect Demised Premises and to any monetary or other judgment or award obtained against ground lessor, whose name and address shall have theretofore been furnished to Tenant, in writing specifying wherein Landlord for Landlord’s default has failed to perform such obligation; PROVIDED, HOWEVER, that if the nature of Landlord’s obligations under this Lease or otherwise's obligation is such that more than thirty (30) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages)days are required for performance, and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); in default if Landlord commences performance within such 30-day period and thereafter diligently prosecutes the same to completion within one hundred twenty (b120) in days thereafter. In no event shall Tenant have the right in connection with any such to terminate this Lease as a result of Landlord's default, judgment and Tenant's sole remedy shall be to effect the cure of such default itself and then bring separate action for reimbursement of its actual third party costs from Landlord with it being expressly understood (i) Tenant shall in no event be entitled to a rent abatement, credit or award or otherwise offset and (ii) Landlord shall in no circumstance whatsoever be liable to levy execution against any property of Landlord other than Landlord’s interest in the ComplexTenant for consequential damages. The foregoing, however, Nothing herein contained shall not limit any right be interpreted to mean that Tenant might have to obtain specific performance is excused from paying rent due hereunder as a result of any default by Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Lease Agreement (Access Integrated Technologies Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of required by Landlord within thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any mortgage or deed of trust covering the Premises or ground lessor of the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day period, days are required for performance then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences performance within such thirty (30) day period and thereafter diligently pursues the same to completion. Tenant further agrees that if Landlord shall have failed to cure such default within such time period as set forth hereinabove, then the failure within holder of the mortgage or deed of trust covering the Premises and/or the ground lessor of the Premises shall have an additional thirty (30) days and thereafter pursues within which to cure such default after the curing of same diligently to completion. Upon Landlord's cure period specified hereinabove, or if such default cannot be cured within that time, then such additional time as may be necessary if within such additional thirty (30) day period any such default by Landlord under this Lease which remains uncured after the expiration holder of the foregoing notice mortgage or deed of trust and/or ground lessor has commenced and is diligently pursuing the remedies necessary to cure periodssuch default (including, Tenant shall be entitled but not limited to, commencement of foreclosure proceedings, if necessary, to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each othereffect such cure). Notwithstanding the foregoing or anything in any provision of this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such to terminate this Lease as a result of Landlord's default, judgment or award or otherwise and Tenant's remedies shall be limited to levy execution against any property of Landlord other than Landlord’s interest damages and/or injunction, subject to the restrictions in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderSection 48below.

Appears in 1 contract

Sources: Building Lease Agreement (Infosonics Corp)

Default by Landlord. If Landlord shall not be in default under this Leasefails to perform, and Tenant shall not be entitled to exercise comply with or observe any right, remedy agreement or recourse against Landlord or otherwise as a consequence obligation of any alleged default by Landlord under this LeaseLease and the failure continues after the cure period described below, unless then Tenant may pursue its remedies at law or in equity; provided, however, if Tenant delivers a second written notice to Landlord and Landlord fails to perform, comply with or observe such agreement or obligation within an additional ten (10) Business Days after Landlord’s receipt of the second notice, then Tenant shall have the right upon the expiration of such ten (10) Business Day period, to perform any of its obligations hereunder and said failure continues such repair or otherwise cure Landlord’s default. If Tenant does such work or performs such obligation, Landlord agrees that it will reimburse Tenant for a period of the reasonable out-of-pocket costs thereof within thirty (30) days after receipt of written notice from Tenant gives which notice shall include supporting documentation of the work performed and the costs incurred by Tenant. If Landlord and does not reimburse Tenant within forty-five (provided that 45) days after receipt of such written notice from Tenant, then Tenant shall have been given the name right to offset an amount not to exceed ten percent (10%) of each monthly installment Gross Rent next coming due under this Lease until Tenant has recouped such amount in full, together with interest at the Default Rate accruing from the date Tenant incurs such costs until the date the costs are recouped in full. In the event that Landlord, acting in good faith, disputes either the necessity of the expense or repair, the obligation to make the same or the cost thereof, Tenant’s remedy shall be an action at law or in equity and address of Tenant shall not be permitted any offsets or deductions from rent. As used above, Landlord’s Mortgageecure period shall be thirty (30) Landlord’s Mortgagee calendar days after Tenant has delivered to Landlord written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot specifically describing the failure or such longer period as reasonably be cured necessary to cure such failure, provided that Landlord commences to cure such failure within the said thirty (30) day periodperiod and thereafter diligently pursues such cure to completion, Landlord shall not be but in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty no event more than sixty (3060) days and thereafter pursues the curing after receipt of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each otherTenant’s notice. Notwithstanding the foregoing or anything in this Lease herein to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have be permitted to make structural repairs to the right in connection with any such defaultPremises, judgment the Building or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Office Lease Agreement (Cray Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of reasonable time, but in no event earlier than thirty (30) days after written notice by Tenant gives to Landlord and (provided to the holder of any first mortgage or deed of trust covering the Premises specifying wherein Landlord has failed to perform such obligations; provided, however, that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligations is such that more than thirty (30) day perioddays are required for performance, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon any such If Landlord is in default by of this lease, Tenant's sole remedy shall be to institute suit against Landlord under this Lease which remains uncured after the expiration in a court of the foregoing notice competent jurisdiction and cure periods, Tenant shall be entitled have no right to exercise all rights offset any sums expended by Tenant as a result of Landlord's default against future rent and remedies provided other sums due and payable pursuant to this lease. If Landlord is in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages)lease, and as a consequence Tenant recovers a money judgment against Landlord, the judgment shall be satisfied only out of the proceeds of sale received on execution of the judgment and levy against the right, title and interest of Landlord in the Complex Project of which the Premises are a part, and out of rent or other income from such real property receivable by Landlord or out of the consideration received by Landlord from the sale or other disposition of all or any part of Landlord's right, title and interest in the Project of which the Premises are a part. Neither Landlord nor any of the partners, comprising the partnership designated as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be personally liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Sublease (Commtouch Software LTD)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence In the event of any alleged default by Landlord under this Leasehereunder, unless Tenant's exclusive remedy shall be an action for damages but prior to any such action Tenant shall give Landlord fails to perform any of its obligations hereunder written notice specifying such default with reasonable detail, and said failure continues for a period of Landlord shall thereupon have thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failurein which to cure any such default. If, however, the failure If such default cannot reasonably be cured within the such thirty (30) day period, Landlord the length of such period shall not be in default hereunder extended for the period reasonably required therefore if Landlord or Landlord’s Mortgagee commences to cure the failure curing such default within the such thirty (30) days day period and thereafter pursues continues the curing thereof with reasonable diligence and continuity. Unless Landlord fails to cure any default after such notice, Tenant shall not have any remedy or cause of same diligently to completionaction by reason thereof. Upon In the event any such default by on the part of Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periodssaid notice, Tenant shall be entitled to exercise all rights and remedies provided in this Lease will give notice by registered or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect certified mail to any monetary beneficiary of a deed of trust or other judgment or award obtained against Landlord for Landlord’s default mortgagee of Landlord’s obligations under this Lease or otherwise) a mortgage covering the Premises whose address shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages)have been furnished it, and shall be satisfied offer such beneficiary or mortgagee a reasonable opportunity to cure the default. The term "Landlord" shall mean only out the last owner of the Building and Property, and in the event of the transfer by such owner of its interest in the Building and Property, such owner shall thereupon be released and discharged from all covenants and obligations of the Landlord thereafter accruing, but such covenants and obligations shall be binding during the term of this Lease upon each new owner of the Building and Property for the duration of such owner's ownership of the Building and Property. In addition, Tenant specifically agrees to look solely to Landlord's interest in the Building and Property for the recovery of any judgment from Landlord pursuant to this Lease, it being agreed that neither Landlord nor any successors or assigns of Landlord in nor any future owner of the Complex as the same may then Building and Property shall ever be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be personally liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderjudgment.

Appears in 1 contract

Sources: Standard Office Lease (Argyle Security Acquisition CORP)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of reasonable time, but in no event earlier than thirty (30) days after written notice by Tenant gives to Landlord and to the holder of any first mortgage or deed of trust covering the Premises (provided that Tenant shall have been given the whose name and address of Landlord’s Mortgageeshall be provided to Tenant upon written request) Landlord’s Mortgagee written notice thereof specifyingspecifying wherein landlord has failed to perform such obligations; provided, with reasonable particularityhowever, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligations is such that more than thirty (30) day perioddays are required for performance, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon any such If Landlord is in default by of this lease, Tenant's sole remedy shall be to institute suit against Landlord under this Lease which remains uncured after the expiration in a court of the foregoing notice competent jurisdiction, and cure periods, Tenant shall be entitled have no right to exercise all rights offset any sums expended by Tenant as a result of Landlord's default against future rent and remedies provided other sums due and payable pursuant to this lease. If Landlord is in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages)lease, and as a consequence Tenant recovers a money judgment against Landlord, the judgment shall be satisfied only out of the proceeds of sale received on execution of the judgment and levy against the right, title and interest of Landlord in the Complex Project of which the Premises are a part, and out of rent or other income from such real property receivable by Landlord or out of the consideration received by Landlord from the sale or other disposition of all or any part of Landlord's right, title and interest in the Project of which the Premises are a part. Neither Landlord nor any of the partners comprising the partnership designated as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be personally liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Lease (Exodus Communications Inc)

Default by Landlord. 28.1 It is agreed that in the event Landlord fails or refuses to perform any of the provisions, covenants or conditions of this Lease on Landlord's part to be kept or performed, that Tenant, prior to exercising any right or remedy Tenant may have against Landlord on account of such default, shall give written notice to Landlord of such default, specifying in said notice the default with which Landlord is charged and Landlord shall not be deemed in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of if the same is cured within thirty (30) days after of receipt of said notice. Notwithstanding any other provisions hereof, Tenant gives Landlord and (agrees that if the default complained of in the notice provided for by this Section is of such nature that Tenant shall have been given the name and address of same can be rectified or cured by Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, but cannot with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably diligence be rectified or cured by Landlord within the said thirty (30) day period, Landlord then such default shall not be in default hereunder deemed to be rectified or cured if Landlord or Landlord’s Mortgagee commences to cure the failure within the a thirty (30) days day period shall commence the rectification and curing thereof and shall continue thereafter pursues the with all due diligence to cause such rectification and curing to proceed. 28.2 The liability of same diligently Landlord to completion. Upon Tenant for any such default by Landlord under the terms of this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the equity interest of Landlord in the Complex as Property and Tenant agrees to look solely to Landlord's equity interest in the same may then be encumbered, including insurance and rental proceeds (and Property for any recovery of any judgment from Landlord; it being intended that Landlord shall not otherwise be personally liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderdeficiency whatsoever.

Appears in 1 contract

Sources: Lease (Truevision International Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of reasonable time but in no event later than thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingby Tenant to Landlord specifying wherein Landlord has failed to perform such obligations; provided, with reasonable particularityhowever, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligation is such that more than thirty (30) day perioddays are required for performance, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee , using commercially reasonable efforts, commences to cure the failure performance within the such thirty (30) days day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon any such If Landlord is in default by of this Lease, Tenant’s sole remedy shall be to institute suit against Landlord under this Lease which remains uncured after the expiration in a court of the foregoing notice competent jurisdiction, and cure periods, Tenant shall be entitled have no right to exercise all rights and remedies provided in this Lease or available to offset any sums expended by Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive as a result of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default against future rent and other sums due and payable pursuant to this Lease. If Landlord is in default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages)Lease, and as a consequence Tenant recovers a money judgment against Landlord, the judgment shall be satisfied only out of the proceeds of sale received on execution of the judgment and levy against the right, title and interest of Landlord in the Complex Premises and out of rent or other income from such real property receivable by Landlord or out of the consideration received by Landlord from the sale or other disposition of all or any part of Landlord’s right, title and interest in the Premises. Neither Landlord nor any of the members comprising the limited liability company designated as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be personally liable to Tenant for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Sublease (Telik Inc)

Default by Landlord. Landlord shall not be deemed to be in default in the performance of any obligation under this Lease unless and until it has failed to perform such obligation within thirty (30) days after receipt of written notice by Tenant to Landlord specifying such failure; provided, however, that if the nature of Landlord's default is such that more than thirty (30) days are required for its cure, then Landlord shall not be deemed to be in default if it commences such cure within the thirty (30) day period and thereafter diligently prosecutes such cure to completion. Tenant agrees to give any Mortgagee a copy, by registered mail, of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or otherwise), of the address of such Mortgagee. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then any such Mortgagee shall have an additional forty-five (45) days within which to cure such default on the part of the Landlord or if such default cannot be cured within that time, then such additional time as may be necessary if within that forty-five (45) day period the Mortgagee has commenced and Tenant is pursuing the remedies necessary to cure such default (including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure), in which event this Lease shall not be entitled to exercise terminated while such remedies are being so pursued. If Tenant recovers any right, remedy or recourse judgment against Landlord or otherwise as for a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then Building and neither Landlord nor any of its partners, officers, employees or agents shall be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be personally liable for any such default or for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Office Lease (Kindred Biosciences, Inc.)

Default by Landlord. Except as otherwise expressly provided in this Lease, Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Lease if Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the (unless such failure cannot reasonably be cured within the thirty (30) day period, days) and Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences have commenced to cure the failure within the said thirty (30) days and thereafter pursues continues diligently to pursue the curing of same diligently the same). Tenant shall use reasonable efforts to completiongive to any holder of indebtedness secured by a first lien upon the Premises whose address has previously been provided to Tenant, a copy of any notice of default served upon the Landlord. Upon Tenant further agrees that any such holder of indebtedness shall have the right to cure any Landlord default within the time period provided for such cure by Landlord under pursuant to this Lease which remains uncured after Lease. If such default is not cured within the expiration of the foregoing notice and cure periodsspecified time period, Tenant shall be entitled to may exercise all rights and remedies provided in this Lease any right or remedy available to Tenant it at law or in equityequity or under this Lease. Tenant shall have the right to cure any such default and Landlord shall reimburse Tenant for the reasonable cost thereof within thirty (30) days following receipt from Tenant of invoices or other reasonable evidence of the amount of such costs; provided, which rights however, in the event Landlord in good faith disputes whether Tenant properly performed an obligation of Landlord, Landlord may dispute the same by institution of a reference proceeding pursuant to Paragraph 39 below within thirty (30) days following Tenant's request for reimbursement. If it is determined pursuant to such proceeding that Tenant's cure was proper, Landlord shall, within ten (10) days following such determination, reimburse Tenant for the cost of such cure (plus interest at the Interest Rate from the date of Tenant's expenditure until reimbursement). Should Landlord fail to pay Tenant any amount due Tenant (a) within thirty (30) days following receipt of Tenant's invoices or other evidence (if Landlord does not institute a reference proceeding disputing such cure), or (b) within ten (10) days after determination by reference, Tenant may, notwithstanding anything to the contrary contained in this Lease, deduct and offset such amount (including, without limitation, interest at the Interest Rate from the time of Tenant's expenditure until repaid) from any monetary obligation of Tenant owing Landlord hereunder. Notwithstanding anything to the contrary contained in this Lease, Tenant shall have the right to offset any unpaid reference or court award from any monetary obligation due under this Lease. Any amount due from Landlord to Tenant shall bear interest at the Interest Rate from the date due until paid. All rights, options and remedies of Tenant contained in this Lease shall be cumulative construed and none held to be cumulative, and no one of them shall be exclusive of each the other. Notwithstanding , and Tenant shall have the foregoing right to pursue any one or anything all of such remedies or any other remedy or relief which may be provided by law, whether or not stated in this Lease Lease. Tenant's failure to the contrary: (a) the liability insist upon strict performance of Landlord under this Lease (including with respect to any monetary term, covenant or other judgment or award obtained against Landlord for Landlord’s default condition of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord exercise any right or remedy it has shall not otherwise be liable deemed a waiver or relinquishment for the future of such performance, right or remedy unless in writing signed by Tenant. No waiver by Tenant shall constitute a waiver of any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereundersubsequent breach.

Appears in 1 contract

Sources: Lease (Sport Chalet Inc)

Default by Landlord. If (i) default shall be made in the payment of any sum required to be paid by Landlord under this Lease and such default shall continue for ten (10) business days after Landlord's receipt of written notice from Tenant or (ii) Landlord shall fail to perform in all material respects any of the other covenants which Landlord is required to perform and such default shall continue for thirty (30) days after written notice to Landlord, provided, however, if such default cannot be reasonably cured within said thirty (30) day period Landlord shall not be in default under if Landlord promptly commences to cure the default and thereafter diligently continues such efforts to cure the default, then Tenant may, without limiting its rights or remedies as a result of such default, treat the occurrence of any one or more of the foregoing events as a breach of this Lease, and Tenant shall not be entitled thereupon at its option may, with notice to exercise any rightLandlord, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under terminate this Lease. In addition, unless in the event Landlord fails to does not perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after under this Lease, Tenant gives Landlord and (provided that Tenant also shall have been given the name and address right, but not the obligation, upon notice to the Landlord to perform such obligations. Without limiting foregoing, in the event of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingan emergency or other event that may result in physical injury or any damage to property, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty Tenant may (30) day period, Landlord but shall not be required to), at its option, immediately commence to perform Landlord's obligations if Landlord. does not immediately commence such performance following notice from Tenant. Any and all reasonable costs and expenses incurred by Tenant in default hereunder if Landlord or the performance of any of Landlord’s Mortgagee commences to cure the failure within the thirty (30) days 's obligations shall be due and thereafter pursues the curing of same diligently to completion. Upon any such default payable by Landlord to Tenant upon demand. Without limiting any of its rights or remedies, Tenant may setoff or reduce any and all future payments of Rent or other amounts due under this Lease which remains uncured after until such costs and expenses are fully reimbursed to Tenant. The parties hereby agree that the expiration exercise of the foregoing notice and cure periods, Tenant shall be entitled to exercise all any of Tenant's set-off rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for deemed a default or breach under any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property term of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderthis Lease.

Appears in 1 contract

Sources: Lease (Buckeye Ventures, Inc.)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for required by Landlord within a period of reasonable time, but in no event later than thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any first mortgage or deed of trust covering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligations; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day perioddays are required for performance, then Landlord shall not be in default hereunder if Landlord or commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. a) The rented usable areas of the new location in the Building are of equal size to the existing location (subject to a variation of up to ten percent (10%) provided the amount of rent payable under this Lease is not increased; (b) If the then prevailing rental rate for the new location is less than the amount being paid for the existing location, the rent shall be reduced to equal the then prevailing rent for the new location; (c) Landlord shall pay the cost of providing tenant improvements on the new location comparable to the tenant improvements in the existing location; (d) Landlord shall pay the expenses reasonably incurred by Tenant in connection with such substitution of Premises, including but not limited to, costs of moving, door lettering, telephone relocation and reasonable quantities of new stationary. Landlord shall deliver to Tenant written notice of Landlord’s Mortgagee commences 's election to cure relocate the failure within Premises, specifying the new location and the amount of rent payable therefore at least thirty (30) days and thereafter pursues prior to the curing of same diligently date the relocation is to completionbe effective. Upon any such default by Landlord under this Lease which remains uncured after If the expiration relocation of the foregoing notice and cure periodsPremises is not acceptable to Tenant, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive for a period of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.ten

Appears in 1 contract

Sources: Office Building Lease (Trinet Employer Group Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given giving the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, If Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained recovers a money judgement against Landlord for Landlord’s default of Landlord’s its obligations under this Lease hereunder or otherwise) , the judgement shall be limited solely to Tenant’s actual direct direct, but no consequential, damages (and not Consequential Damages), therefor and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in . In no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s its interest in the Complex. The foregoing, however, foregoing shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Lease Agreement (Raser Technologies Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after written notice by Tenant gives to Landlord (except in cases of emergency in which case Landlord’s obligations hereunder shall be performed as soon as reasonably practicable) and (provided that Tenant to the holder of any mortgage or deed of trust covering the Premises whose name and address shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingpreviously furnished to Tenant in writing specifying what obligation Landlord has failed to perform; provided, with reasonable particularityhowever, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligation is such that more than thirty (30) day period, days is required for performance then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in In no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance terminate this Lease as a result of Landlord’s obligations hereunderdefault. In addition to the above, if Landlord fails to cure such Landlord default within the Landlord cure period, or fails to commence to cure within the Landlord cure period and thereafter diligently pursue the same to completion, as applicable, Tenant may, but shall have no obligation to do so, perform the same for the account of Landlord. Landlord shall, within thirty (30) days of demand therefor, at Landlord’s election, either (i) credit against Tenant’s obligation to pay Basic Rent the documented, out-of-pocket costs reasonably incurred by Tenant in curing such Landlord default, or (ii) reimburse Tenant the documented, out-of-pocket costs reasonably incurred by Tenant in curing such Landlord default together with interest thereon at the Default Rate from the date demanded by Tenant.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Polarityte, Inc.)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any mortgage or deed of trust encumbering the Project whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligation is such that more than thirty (30) day perioddays are required for its cure, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon any such default by Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord under this Lease which remains uncured after default. Except to the expiration extent that Tenant obtains a final judgment of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided constructive eviction in this Lease or available to Tenant at accordance with Florida law or in equityas otherwise permitted by applicable Florida law, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance terminate this Lease as a result of Landlord’s default, and Tenant’s remedies shall be limited to damages and/or an injunction. This Lease and the obligations hereunderof Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord’s performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease or the negotiations which preceded this Lease shall be barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within one (1) year after the date of the inaction, omission, event or action that gave rise to such claim, demand, right or defense.

Appears in 1 contract

Sources: Office Lease (Ladenburg Thalmann Financial Services Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given giving the name and address of Landlord’s 's Mortgagee) Landlord’s 's Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s 's failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s 's Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, If Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained recovers a money judgement against Landlord for Landlord’s 's default of Landlord’s its obligations under this Lease hereunder or otherwise) , the judgement shall be limited solely to Tenant’s 's actual direct direct, but no consequential, damages (and not Consequential Damages), therefor and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in . In no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s its interest in the Complex. The foregoing, however, foregoing shall not limit any right that Tenant might have to obtain specific performance of Landlord’s 's obligations hereunder.

Appears in 1 contract

Sources: Lease Agreement (Ziasun Technologies Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Lease if Landlord fails or refuses to perform any of its Landlord's obligations hereunder and said failure continues for a period of under this Lease within thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have notice of the default has been given by Tenant. If the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure default cannot reasonably be cured within the said thirty (30) day period, Landlord shall not be in default hereunder of this Lease if Landlord or Landlord’s Mortgagee commences to cure the failure default within the said thirty (30) days day period and thereafter pursues diligently and in good faith continues to pursue the curing same. Should the Premises be subject to the lien of same diligently to completion. Upon any such default by Landlord trust deed, mortgage, judgment, assessment, tax or other obligation, whether incurred before or after the execution of this Lease, which Tenant is not bound under this Lease to pay or discharge, or should Landlord fail to pay or discharge any obligation which remains uncured after the expiration of the foregoing notice and cure periodsLandlord is obligated under this Lease to pay or discharge, Tenant shall be entitled have the right, but not the obligation, at any time to exercise all rights pay or discharge any such obligations. Should Tenant elect to pay or discharge any such obligation, Landlord shall, upon demand, reimburse Tenant for the full amount thereof, together with Tenant's expenses incurred in connection therewith, including reasonable attorney's fees and remedies provided in this Lease or available interest from the date of payment at the maximum rate allowable by law, and Tenant shall have the right to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations deduct from Rent thereafter payable under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out from the purchase price of any sale of the interest of Premises made by Landlord to Tenant all amounts due from Landlord under this section until such amounts have been paid in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderfull.

Appears in 1 contract

Sources: Lease Agreement (Lithia Motors Inc)

Default by Landlord. Landlord shall not be deemed in default under this Lease in the event Landlord fails to observe, perform, or comply with any of the terms, covenants, agreements, or conditions contained in this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said such failure continues for a period of thirty (30) 20 days after Tenant gives has given Landlord notice of such failure. If Landlord has promptly commenced and diligently pursued remedial action within such 20-day period but has been unable to cure its default prior to the expiration thereof; such 20-day period shall be extended for the minimum time reasonably required for the completion of Landlord's remedial action, provided Landlord continues to diligently pursue such remedial action. In the event of default by Landlord: (provided that a) If Landlord's default renders the Premises wholly untenantable then Tenant shall have been given the name and address right to terminate this Lease upon 30 days notice to Landlord, whereupon both parties shall bc relieved of Landlord’s Mortgageeall further obligations hereunder; or (b) Landlord’s Mortgagee Tenant may, upon written notice thereof specifyingto Landlord, with cure such default by performing or paying the obligation which Landlord has breached. In such case, all reasonable particularity, expenses incurred by Tenant in curing Landlord's default shall be due and payable from Landlord to Tenant within 10 days after delivery of notice to Landlord of the nature amount of Landlord’s failuresuch expenses. If, however, the failure cannot reasonably be cured If Landlord fails to pay such expenses within the thirty (30) such 10-day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure Tenant may deduct the failure within amount of such expenses from the thirty (30) days and thereafter pursues the curing next due installments of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderrent.

Appears in 1 contract

Sources: Lease Agreement (Rose Group of Nevada)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence in the performance of any alleged default obligation required to be performed by Landlord under this Lease, unless Lease if Landlord fails has failed to perform any of its obligations hereunder and said failure continues for a period of such obligation within thirty (30) days after the receipt of notice from Tenant gives Landlord and (provided that Tenant shall have been given the name and address of specifying in detail Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingfailure to perform; provided, with reasonable particularityhowever, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligation is such that more than thirty (30) day perioddays are required for its performance, Landlord shall not be deemed in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure it shall commence such performance within the thirty (30) days and thereafter diligently pursues the curing of same diligently to completion. Upon Tenant shall have no rights as a result of any such default by Landlord under until Tenant gives thirty (30) days notice to any person who has a recorded interest pertaining to the Building, specifying the nature of the default. Such person shall then have the right to cure such default, and Landlord shall not be deemed in default if such person cures such default within thirty (30) days after receipt of notice of the default, or within such longer period of time as may reasonably be necessary to cure the default. Tenant shall have no right to any deduction or offset of any kind nor any right to terminate this Lease which remains based upon an uncured after default by Landlord in the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default performance of Landlord’s obligations under this Lease or Lease; provided, however, that Tenant may seek to recover from Landlord an amount representing appropriate actual, compensatory damages for breach of contract based on any such uncured default by Landlord, but not otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages). Consistent with Section 18 below, and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with either party be permitted to recover consequential, punitive, or exemplary damages from Landlord based on any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance uncured default of Landlord’s obligations hereunder, or otherwise.

Appears in 1 contract

Sources: Lease Agreement (Switch, Inc.)

Default by Landlord. So long as the Security Deed remains outstanding and unsatisfied, Tenant will mail or deliver to Lender, at the address and in the manner herein provided, a copy of all notices permitted or required to be given to Landlord by Tenant under and pursuant to the terms and provisions of the Lease. In addition thereto, so long as the Security Deed remains outstanding and unsatisfied, Tenant will mail or deliver to Lender, at the address and in the manner hereinabove provided, written notice of any default or claimed default of Landlord under the Lease. If Landlord shall not be in fail to cure any default within the time prescribed by the Lease, Tenant shall give further notice of such fact to Lender. At any time before the rights of Landlord shall have been forfeited or adversely affected because of any default of Landlord, or within the time permitted Landlord for curing any default under this the Lease as therein provided, Lender may, but shall have no obligation to, pay any taxes and assessments, make any repairs and improvements, make any deposits or do any other act or thing required of Landlord by the terms of the Lease, and Tenant all payments so made and all things so done and performed by Lender shall not be entitled as effective to exercise any right, remedy prevent the rights of Landlord from being forfeited or recourse against Landlord or otherwise as a consequence adversely affected because of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then would have been if done and performed by Landlord. Tenant agrees that notwithstanding any provisions of the Lease, no notice of cancellation or abatement shall be encumberedeffective unless Lender has received notice as herein provided, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the which gave rise to such right in connection with any such default, judgment of cancellation or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderabatement.

Appears in 1 contract

Sources: Lease Agreement (Witness Systems Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any mortgage or deed of trust encumbering the Project whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day perioddays are required for its cure, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in In no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance terminate this Lease as a result of Landlord’s default, and Tenant’s remedies shall be limited to damages and/or an injunction. Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. This Lease and the obligations hereunderof Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of strike or other labor problems, acts of God, riot, insurrection, governmental actions or requirements, or any other cause beyond the reasonable control of Landlord, and the time for Landlord's performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease or the negotiations which preceded this Lease shall be barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within six (6) months after the date of the inaction, omission, event or action that gave rise to such claim, demand, right or defense.

Appears in 1 contract

Sources: Standard Office Lease (Echo Therapeutics, Inc.)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence In the event of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given on the name and address part of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled give notice to exercise all rights Landlord and remedies provided in this Lease or available afford Landlord a reasonable opportunity to Tenant at law or in equity, which rights and remedies cure such default. Such notice shall be cumulative and none shall be exclusive of each other. Notwithstanding ineffective unless a copy is simultaneously also delivered in the foregoing or anything manner required in this Lease to any holder of a mortgage and/or deed of trust affecting all or any portion of the contraryBuilding Complex (collectively, “Mortgagee”), provided that prior to such notice Tenant has been notified (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of a Mortgagee. If Landlord fails to cure such default within the time provided, then Mortgagee shall have an additional 30 days following a second notice from Tenant or, if such default cannot be cured within that time, such additional time as may be necessary provided within such 30 days, Mortgagee commences and diligently pursues a cure (including commencement of foreclosure proceedings if necessary to effect such cure). Tenant’s sole remedy will be equitable relief or actual damages but in no event is Landlord or any Mortgagee responsible for consequential damages or lost profit incurred by Tenant as a result of any default by Landlord. If a Mortgagee, or transferee under such Mortgage (hereafter defined), succeeds to Landlord’s interest as a result of foreclosure or otherwise, such party shall not be: (ai) the liability liable for any default, nor subject to any setoff or defenses that Tenant may have against Landlord; (ii) bound by any amendment (including an agreement for early termination) without its consent made at any time after notice to Tenant that such Mortgage requires such consent; and (iii) bound by payment of Landlord Rent in advance for more than 30 days. Tenant agrees to pay Rent (and will receive credit under this Lease (including with respect to Lease) as directed in any monetary or other judgment or award obtained against Landlord for Mortgagee’s notice of Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely the Mortgage reciting that Mortgagee is entitled to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereundercollect Rent.

Appears in 1 contract

Sources: Lease Agreement (Redwood Trust Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after receipt of written notice from Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any first mortgage or deed of trust covering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying that Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failureobligation is such that more than thirty (30) days are reasonably required for performance then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. If, however, In the failure canevent Landlord does not reasonably be cured commence performance of any maintenance or repair required of Landlord hereunder within the thirty (30) day periodperiod provided herein, Landlord shall not be and in default hereunder if Landlord the event that such maintenance or Landlord’s Mortgagee commences repair relates to cure the failure improvements which are wholly within the thirty Premises (30) days not including any Building core systems or equipment), Tenant may perform such maintenance or repair, and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights prompt reimbursement by Landlord of Tenant’s reasonable costs and remedies provided expenses in taking such action, together with interest thereon at the Agreed Rate. Tenant waives any right to terminate this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding vacate the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Premises on Landlord’s default of under this Lease. Tenant’s sole remedy on Landlord’s obligations under this Lease default is an action for damages or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment injunctive or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderdeclaratory relief.

Appears in 1 contract

Sources: Triple Net Space Lease (Rambus Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any obligations required of its obligations Landlord hereunder and said failure continues for within a period of reasonable time, but in no event later than thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any first mortgage or deed of trust covering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation, provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day perioddays are required for performance, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the thirty (30) days such thirty-day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in In no event shall Tenant have the right to terminate this Lease as a result of Landlord's default unless and until: (i) if Landlord agrees that Landlord has default under an obligation hereunder. Landlord fails to commence performance within such thirty (30) day period and diligently prosecutes the same to completion; or (ii) if Landlord disagrees in connection writing to Tenant within such thirty (30) day period with any such the factual or legal basis of Tenant's claim of default, judgment Landlord fails to commence performance within thirty (30) days after a final settlement or award or otherwise order of a Court of competent jurisdiction finding that Landlord is, in fact, in default, and fails to levy execution against any property of Landlord other than Landlord’s interest in diligently prosecute the Complex. The foregoing, however, shall not limit any right that Tenant might have same to obtain specific performance of Landlord’s obligations hereundercompletion.

Appears in 1 contract

Sources: Lease Agreement (McMS Inc /De/)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after receipt of written notice from Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any first mortgage or deed of trust covering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying that Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failureobligation is such that more than thirty (30) days are reasonably required for performance then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. If, however, In the failure canevent Landlord does not reasonably be cured commence and diligently prosecute the performance of any maintenance or repair required of Landlord hereunder within the thirty (30) day periodperiod provided herein (or three (3) business days after receipt of written notice thereof if such default materially and adversely impairs Tenant’s ability to use the Premises or any material portion thereof for the operation of its business pursuant to the terms of this Lease, Landlord shall not be or poses a material and imminent risk to the health or safety of persons), and in default hereunder if Landlord the event that such maintenance or Landlord’s Mortgagee commences repair relates to cure the failure improvements which are wholly within the thirty Premises (30) days not including any Building core systems or equipment), Tenant may perform such maintenance or repair, and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights prompt reimbursement by Landlord of Tenant’s reasonable costs and remedies provided expenses in taking such action, together with interest thereon at the Agreed Rate. Tenant waives any right to terminate this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding vacate the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Premises on Landlord’s default of under this Lease. Tenant’s sole remedy on Landlord’s obligations under this Lease default is an action for damages or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment injunctive or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderdeclaratory relief.

Appears in 1 contract

Sources: Triple Net Space Lease (Financial Engines, Inc.)

Default by Landlord. Landlord (a) The following shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence an event of any alleged default by Landlord under (a “Landlord Default”): (i) failure by Landlord to pay any sum required to be paid by Landlord pursuant to this Lease, unless Lease within ten (10) days after Landlord fails receives notice from Tenant that the same is due and payable; or (ii) failure by Landlord to perform or comply with any covenant or condition of its obligations hereunder and said failure continues for a period of this Lease to be performed or complied with by Landlord within thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingfrom Tenant and such additional time, with reasonable particularityif any, the nature of Landlord’s as is reasonably necessary to cure such failure. If, however, the provided Landlord commences to cure such failure cannot reasonably be cured within the such thirty (30) day periodperiod and thereafter prosecutes such cure to completion with reasonable diligence. (b) Upon the occurrence of a Landlord Default, Tenant may, at its election, perform the obligation which Landlord shall not be has failed to perform for the account of Landlord. Notwithstanding the foregoing, in default hereunder if Landlord case of an emergency where there is an immediate threat to the Premises or Tenant’s property therein as a result of Landlord’s Mortgagee commences failure to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon perform any such default by Landlord obligation under this Lease which remains uncured after the expiration of the foregoing notice and cure periodsLease, Tenant shall have the right to perform any obligation that Landlord has failed to perform, without giving the notice and opportunity for cure required for such failure to constitute a Landlord Default. Tenant shall, however, give such notice as may be entitled to exercise reasonable under the circumstances (which notice may, for this purpose, consist of telephonic notice). Landlord shall pay Tenant upon demand all rights and remedies provided reasonable costs paid by Tenant in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of performing Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complexpreceding paragraph. The foregoing, however, shall not limit any right that rights and remedies granted to Tenant might pursuant to this Section are in addition to all other rights and remedies which Tenant may have by law or equity on account of a failure by Landlord to obtain specific performance of Landlord’s perform its obligations hereunderunder this Lease.

Appears in 1 contract

Sources: Lease Agreement (Manitex International, Inc.)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any mortgage or deed of trust encumbering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligation is such that more than thirty (30) day perioddays are required for its cure, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in In no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance terminate this Lease as a result of Landlord’s default, and Tenant’s remedies shall be limited to damages and/or an injunction. Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. Except as may be otherwise provided in this Lease, this Lease and the obligations hereunderof Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord’s performance shall be extended for the period of any such delay.

Appears in 1 contract

Sources: Standard Industrial Lease (Source Photonics Inc)

Default by Landlord. Landlord shall not be deemed to be in default in the performance of any obligation under this Lease, and Tenant shall not be entitled have no rights to exercise take any right, remedy or recourse action against Landlord or otherwise as a consequence of any alleged default by Landlord under this LeaseLandlord, unless and until Landlord fails has failed to perform any of its obligations hereunder and said failure continues for a period of the obligation within thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingby Tenant to Landlord specifying in reasonable detail the nature and extent of the failure, with reasonable particularityexcept in the case of imminent danger to person or property in which case Landlord shall perform as soon as reasonably practicable under the circumstances; provided, however, that if the nature of Landlord’s failure. Ifobligation is such that more than thirty (30) days are required for its performance, however, the failure canthen Landlord shall not reasonably be cured deemed to be in default if it commences performance within the thirty (30) day periodperiod and thereafter diligently pursues the cure to completion. Notwithstanding the foregoing, in the event Landlord shall not be in default hereunder if Landlord fails to properly fulfill (or Landlord’s Mortgagee commences commence to cure perform and thereafter diligently pursue to completion) its obligations for maintenance, repair, replacement and/or providing services under the failure within Lease, or for performing the Tenant Improvements, following thirty (30) days and thereafter pursues the curing of same diligently written notice from Tenant, then Tenant may elect, but shall have no obligation to completion. Upon perform any such default repair or maintenance required by Landlord hereunder on behalf of Landlord, at Landlord’s expense. Landlord shall promptly reimburse Tenant upon demand for all reasonable costs actually incurred, but Tenant shall not deduct such costs from any rent or other sum due Landlord and shall seek reimbursement from Landlord directly. In the event of Landlord’s default under this Lease which remains uncured after the expiration of the foregoing notice and cure periodsLease, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and Tenant’s sole remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing to seek damages or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to specific performance from Landlord, provided that any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) damages shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), out-of-pocket expenses and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with include any such defaultconsequential damages, judgment lost profits or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderopportunity costs.

Appears in 1 contract

Sources: Lease Agreement (Sonicwall Inc)

Default by Landlord. (a) Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of reasonable time, but in no event later than thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any first mortgage or deed of trust covering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day period, days are required for performance then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon any such default Subject to Tenant's rights under paragraph 9.4, which shall be unaffected by Landlord under the terms of this Lease which remains uncured after the expiration of the foregoing notice and cure periodsparagraph 14.3, Tenant shall be entitled have the right as its sole and exclusive remedy to exercise all rights and remedies provided in seek specific performance of this Lease and sue ▇▇▇ any direct out-of-pocket expenses it incurs as a result of Landlord's material default in the event Landlord and the holder of any first mortgage or available deed of trust covering the Premises fail to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding cure within the foregoing or anything in this Lease to the contrary: (a) the liability grace periods allotted hereunder a material default of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and Lease. (b) in no event shall Tenant have the right in connection with any such defaultLANDLORD AND TENANT, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoingEACH BEING FULLY INFORMED BY THEIR RESPECTIVE COUNSEL OF THE LEGAL CONSEQUENCES, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderWAIVE THE RIGHT TO TRIAL BY JURY.

Appears in 1 contract

Sources: Build to Suit Lease (Intuit Inc)

Default by Landlord. Landlord shall be in default if Landlord fails to perform its obligations within a reasonable time, but in no event later than thirty (30) days after written notice from Tenant specifying said default has been received by Landlord; provided that if the nature of Landlord's obligation is such that more than thirty (30) days are required for performance, Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against if Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured commences performance within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to period and diligently prosecutes the cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any Notwithstanding the above, Landlord will act expeditiously after notice from Tenant of the need to make repairs pursuant to Paragraph 12(B), if such default by Landlord under emergency repair is required to terminate a major interruption of or threat to Tenant's business. Tenant shall not have the right to terminate this Lease which remains uncured after as a result of Landlord's default or to perform maintenance or repairs and deduct the expiration cost from amounts payable by Tenant to Landlord. In the event of the foregoing notice and cure periodssuch Landlord default, Tenant shall be entitled to exercise have all rights and remedies provided in this Lease or available allowed by law. As a material part of the consideration to Landlord, Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive hereby agrees that the execution of each other. Notwithstanding the foregoing or anything in this Lease any judgment obtained by Tenant against Landlord for damages due to the contrary: (a) the liability of Landlord Landlord's default under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s 's interest in the ComplexReal Property. The foregoingA copy of any notice of default sent to Landlord by Tenant shall be sent to Landlord's lender, however, provided that the lender has requested copies of such notices and has provided Tenant with the address to which they shall not limit any be sent. Landlord's lender shall have the same right that Tenant might have as Landlord to obtain specific performance of cure Landlord’s obligations hereunder's default.

Appears in 1 contract

Sources: Lease Renewal (Nutraceutix Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless In the event Landlord fails to perform any of its obligations hereunder the terms, conditions or covenants of this Lease to be observed or performed by Landlord, and said such failure continues for has a period material, adverse effect on the operation of Tenant’s business, Tenant shall provide written notice of such failure to Landlord and any Mortgagee of Landlord of which Tenant has notice, and Landlord or any such Mortgagee of Landlord shall have thirty (30) days after Tenant gives Landlord and from receipt thereof to perform such terms, conditions or covenants [except that such thirty (provided that Tenant 30) day period shall have been given be automatically extended for such additional period of time as is reasonably necessary to perform such terms, conditions or covenants if the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure same cannot reasonably be cured performed within the such thirty (30) day period, Landlord shall not be in default hereunder if provided that Landlord or any Mortgagee of Landlord commences the process of performing same and diligently prosecutes same to completion]. In the event Landlord or any Mortgagee of Landlord fails to commence to perform such terms, conditions or covenants within such thirty (30) day period, Tenant may, but is under no obligation to, perform such terms, conditions or covenants; provided, however, that Tenant may make temporary repairs in an emergency without providing prior notice to Landlord’s Mortgagee commences . In such event, Tenant shall provide Landlord with written notice of such repairs, as well as a reasonably detailed explanation of the emergency situation which required Tenant to cure make such repairs without providing prior notice to Landlord, as soon as possible and, in any event, not later than the failure next Business Day. If Tenant performs such terms, conditions or covenants in accordance with this ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ shall reimburse Tenant for the reasonable out-of-pocket cost of performing such terms, conditions or covenants within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration receipt of an invoice therefor, and upon Landlord’s failure to do so, such amount shall bear interest at the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each otherInterest Rate until paid. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including foregoing, Tenant’s remedies with respect to any monetary or other judgment or award obtained against a failure by Landlord for Landlord’s default to pay the Improvement Allowance in accordance with the terms of Landlord’s obligations under Paragraph 45 of this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out governed by Paragraph 49.2 of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderthis Lease.

Appears in 1 contract

Sources: Office Building Lease (Digital Insight Corp)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord ------------------- fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of reasonable time, but in no event earlier than thirty (30) days after written notice by Tenant gives to Landlord and (provided to the holder of any first mortgage or deed of trust covering the Premises specifying wherein Landlord has failed to perform such obligations; provided, however, that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligations is such that more than thirty (30) day perioddays are required for performance, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon any such If Landlord is in default by of this lease, Tenant's sole remedy shall be to institute suit against Landlord under this Lease which remains uncured after the expiration in a court of the foregoing notice competent jurisdiction, and cure periods, Tenant shall be entitled have no right to exercise all rights offset any sums expended by Tenant as a result of Landlord's default against future rent and remedies provided other sums due and payable pursuant to this lease. If Landlord is in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages)lease, and as a consequence Tenant recovers a money judgment against Landlord, the judgment shall be satisfied only out of the proceeds of sale received on execution of the judgment and levy against the right, title and interest of Landlord in the Complex Project of which the Premises are a part, and out of rent or other income from such real property receivable by Landlord or out of the consideration received by Landlord from the sale or other disposition of all or any part of Landlord's right, title and interest in the Project of which the Premises are a part. Neither Landlord nor any of the partners comprising the partnership designated as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be personally liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Lease (Atmi Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any mortgage or deed of trust encumbering the Project whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligation is such that more than thirty (30) day perioddays are required for its cure, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in In no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance terminate this Lease as a result of Landlord’s default, and Tenant’s remedies shall be limited to damages and/or an injunction. Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. Subject to the provisions of section 11.6, this Lease and the obligations hereunderof Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord’s performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease or the negotiations which preceded this Lease shall be barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within twelve (12) months after the date of the inaction, omission, event or action that gave rise to such claim, demand, right or defense.

Appears in 1 contract

Sources: Office Lease (Ign Entertainment Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of reasonable time, but in no event later than thirty (30) days after written notice by Tenant gives to Landlord and to the holder of any first mortgage or deed of trust covering the Building (provided that Tenant shall have been given the "First Mortgagee") whose name and address has been furnished to Tenant in writing, specifying the nature of the alleged failure to perform by Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularityprovided however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligations are such that more than thirty (30) day period, days are reasonably required for performance. Landlord shall not be in default hereunder if Landlord commences performance within such thirty-day period and thereafter diligently prosecutes the same to completion. If Landlord has not performed or Landlord’s commenced performance of the obligation required of Landlord within said thirty-day period, Tenant agrees that Landlord shall not be in default under this Lease unless Tenant has first given notice of such failure to the First Mortgagee commences and the First Mortgagee has failed either: (a) to cure the failure perform such obligation within the thirty (30) days after such notice; or (b) if the nature of Landlord's obligation is such that more than thirty (30) days are reasonably required for performance, to commence performance within thirty days after First Mortgagee's receipt of such notice and thereafter pursues diligently to prosecute the curing of same diligently to completion. Upon Nothing herein shall be deemed to obligate any such default by Landlord under this Lease which remains uncured after the expiration First Mortgagee to perform any of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s 's obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderLease.

Appears in 1 contract

Sources: Lease Agreement (Equidyne Corp)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence In the event of any alleged default by Landlord under this Leasehereunder, unless Tenant's exclusive remedy shall be an action for damages and/or equitable relief, but prior to any such action Tenant shall give Landlord fails to perform any of its obligations hereunder written notice specifying such default with reasonable detail, and said failure continues for a period of Landlord shall thereupon have thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failurein which to cure any such default. If, however, the failure If such default cannot reasonably be cured within the such thirty (30) day period, Landlord the length of such period shall not be in default hereunder extended for the period reasonably required therefore if Landlord or Landlord’s Mortgagee commences to cure the failure curing such default within the such thirty (30) days day period and thereafter pursues continues the curing of same diligently thereof with reasonable diligence and continuity. Unless Landlord fails to completion. Upon cure any default after such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periodsnotice, Tenant shall be entitled not have any remedy or cause of action by reason thereof. Tenant will give notice by registered or certified mail to exercise all rights and remedies provided in this Lease any beneficiary of a deed of trust or available mortgagee of a mortgage covering the Premises whose address Landlord has supplied to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease same time notice is sent to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied offer such beneficiary or mortgagee a reasonable opportunity to cure the default, but no longer than forty-five (45) days after the notice is sent. The term "Landlord" shall mean only out the last owner of the Building and Land, and in the event of the transfer by such owner of its interest in the Building and Land, such owner shall thereupon be released and discharged from all covenants and obligations of the Landlord thereafter accruing, but such covenants and obligations shall be binding during the term of this Lease upon each new owner of the Building and Land for the duration of such owner's ownership of the Building and Land. In addition, Tenant specifically agrees to look solely to Landlord's interest in the Building and Land for the recovery of any judgment from Landlord pursuant to this Lease, it being agreed that neither Landlord nor any successors or assigns of Landlord in nor any future owner of the Complex as the same may then Building and Land shall ever be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be personally liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderjudgment.

Appears in 1 contract

Sources: Standard Office Lease (Payment Data Systems Inc)

Default by Landlord. Except as otherwise provided in the state’s statutes governing Landlord shall not be in default under this LeaseTenant Law, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as if there is a consequence of any alleged default material noncompliance by Landlord under with this LeaseLease and Sublease Agreement, unless Tenant may deliver a written notice to the Landlord fails to perform any of its obligations hereunder specifying the acts and said failure continues for omissions constituting the breach and that the Lease and Sublease Agreement will terminate upon a period of periodic rent-paying date not less than thirty (30) days after receipt of the notice. The Lease and Sublease Agreement shall terminate as provided in the notice, subject to the following: If the breach is remediable by repairs or the payment of damages or otherwise, and Landlord adequately initiates a good faith effort to remedy the breach within fourteen (14) days after receipt of the notice, the Lease and Sublease Agreement shall not terminate. However, in the event that the same or a similar breach occurs after the 14-day period provided therein, Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee may deliver a written notice thereof specifying, with reasonable particularity, to Landlord specifically describing the nature of Landlord’s failure. If, however, breach and stating that the failure canLease and Sublease Agreement shall terminate upon a periodic rent-paying date not reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the less than thirty (30) days after the receipt of such notice by Landlord. The Lease and thereafter pursues Sublease Agreement shall then terminate as provided in such notice. Tenant may not terminate for a condition caused by an act or omission of, or which is or can be properly attributable to or applicable to, Tenant or any person on the curing of same diligently to completionPremises at any time with Tenant’s express or implied permission or consent. Upon Except as otherwise provided in the Ohio Landlord Tenant Law, Tenant may recover damages and obtain injunctive relief for any such default noncompliance by Landlord under this with the Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies Sublease Agreement. The remedy provided in this Lease or available to Tenant at law or in equity, which rights and remedies paragraph shall be cumulative and none shall be exclusive in addition to any right of each other. Notwithstanding the foregoing or anything Tenant arising earlier in this Section 18. If the Lease to the contrary: (a) the liability of and Sublease Agreement is terminated, Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out return that portion of the interest of security deposit recoverable by Tenant under the State’s Residential Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the ComplexAct. The foregoing, however, provisions of this Section 18 shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderor Tenant’s right to terminate this Lease and Sublease Agreement pursuant to State’s Statutes governing Landlord Tenant Law, and amendments thereto.

Appears in 1 contract

Sources: Lease and Sublease Agreement

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence In the event of any alleged default by Landlord under this Leaseon the part of Landlord, unless Landlord fails Tenant shall give notice to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and afford Landlord a reasonable opportunity to cure such default, provided Landlord commences such cure on or before the Fifth (5th) day following Tenant's notice and diligently pursues such cure to completion using commercially reasonable efforts. Such notice shall be ineffective unless a copy is simultaneously also delivered in the manner required in this Lease to any holder of a mortgage and/or deed of trust affecting all or any portion of the Building Complex (collectively, "Mortgagee"), provided that prior to such notice Tenant shall have has been given written notice in accordance with the name notice provisions of this Lease of the identity and the address of Landlord’s such Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty Within such Five (305) day period, Landlord shall provide written notice to Tenant of Landlord's intended actions and schedule for completion of such cure and regular progress reports regarding the same. If Landlord fails to cure such default in accordance with the requirements set forth above or within 30 days following the notice to Landlord, whichever is earlier, then Mortgagee shall have an additional 30 days following a second notice from Tenant or, if such default cannot be in default hereunder if Landlord or Landlord’s cured within that time, such additional time as may be necessary to effect a cure, provided Mortgagee commences such cure on or before the Fifth (5th) day following such second notice and diligently pursues such cure to completion using commercially reasonable efforts (which pursuit shall include, without limitation, commencing foreclosure proceedings and seeking relief in any applicable bankruptcy or insolvency proceedings, if necessary to effect such cure). If Landlord fails to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and Landlord's cure periodsperiod, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained relief against Landlord for such default (other than termination of the Lease) for so long as the Mortgagee's cure period remains in effect. If such default involves Landlord’s default of Landlord’s obligations 's failure to make repairs, provide essential services, pay utility bills as are required under this Lease or otherwiseany other circumstance that would materially impair Tenant's ability to continue operating its business on and from the Premises, then, if such default or failure is not cured within Five (5) days following the date of such notice to Landlord, Tenant also shall have the right (but shall not be limited solely obligated to) to Tenant’s actual direct damages undertake such repairs (and in such manner as to not Consequential Damagesto void applicable warranties), provide services or pay such bills or take such other actions as are reasonably required to enable Tenant to avoid such material impairment and to continue operating its business activities on and from the Premises (consistent with the Permitted Uses under this Lease), provided that such undertakings by Tenant do not materially interfere with such actions by Landlord to effect a cure as are (1) actually being undertaken by Landlord at such time and (2) as are equally likely and expeditious in effecting a complete cure as those which could be taken or are proposed to be taken by Tenant and, further provided, that Tenant's undertakings to effect a cure do not result in any permanent material damage to the Building or Building Complex. As to all such undertakings by Tenant, Landlord shall be satisfied only out reimburse Tenant within 30 days of receipt of Tenant's invoice the full amount of such reasonable out-of-pocket costs and expenses incurred by Tenant; provided, however, that if Landlord disputes that such default exists or disputes the reasonableness of all or a portion of the interest amount to be paid, by notice to Tenant prior to the expiration of the 30 day period, then Landlord shall have no obligation to pay the amount disputed until such dispute is determined by final decision of a court or agreement of the parties. If any such repairs will affect the HVAC, plumbing, electrical or mechanical systems of the Building (the "Building Systems "), the structural integrity of the Building, or the exterior appearance of the Building, Tenant shall use only those contractors used by Landlord in the Complex as Building for work on the same Building Systems, or its structure, provided that Landlord provides Tenant (upon Tenant's request) with notice identifying such contractors and any changes to the list of such contractors, unless such contractors are unwilling or unable to perform such work or the cost of such work is not competitive, in which event Tenant may then be encumberedutilize the services of any other qualified contractors which normally and regularly performs similar work on comparable buildings. To the extent any sum thus reimbursed to Tenant by Landlord represents an amount that would have been included in the Operating Expenses of the Building if paid by Landlord to perform the obligation in question, including insurance and rental proceeds (and Landlord shall be entitled to include in Operating Expenses the sum reimbursed to Tenant. Tenant's sole additional remedy will be equitable relief or actual damages but in no event is Landlord or any Mortgagee responsible for consequential damages or lost profit incurred by Tenant as a result of any default by Landlord. If a Mortgagee, or transferee under such Mortgage (hereafter defined), succeeds to Landlord's interest as a result of foreclosure or otherwise, such party shall not otherwise be be: (i) liable for any deficiency)default, nor subject to any setoff or defenses that Tenant may have against Landlord except for a reimbursement obligation arising under this Section as to which such Mortgagee has been given notice and the opportunity to dispute as provided herein or except for obligations arising or continuing after the date such Mortgagee or transferee succeeds to Landlord's interest; (ii) bound by any amendment (including an agreement for early termination) without its consent made at any time after notice to Tenant that such Mortgage requires such consent; and (biii) bound by payment of Rent in no event shall advance for more than 30 days. Tenant have agrees to pay Rent (and will receive credit under this Lease) as directed in any Mortgagee's notice of Landlord's default under the right in connection with any such default, judgment or award or otherwise Mortgage reciting that Mortgagee is entitled to levy execution against any property of Landlord other than Landlord’s interest in the Complexcollect Rent. The foregoing, however, terms of Section 7 of this Lease shall not limit any right that Tenant might have be subject to obtain specific performance the terms of Landlord’s obligations hereunderthis Section.

Appears in 1 contract

Sources: Office Lease (Savvis Communications Corp)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any mortgage or deed of trust encumbering the Project whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligation is such that more than thirty (30) day perioddays are required for its cure, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in In no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance terminate this Lease as a result of Landlord’s default, and Tenant’s remedies shall be limited to damages and/or an injunction. This Lease and the obligations hereunderof Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord’s performance shall be extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease or the negotiations which preceded this Lease shall be barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within six (6) months after the date of the inaction, omission, event or action that gave rise to such claim, demand, right or defense.

Appears in 1 contract

Sources: Lease Agreement (Regenerx Biopharmaceuticals Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence In the event of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given on the name and address part ------------------- of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled give notice to exercise all rights Landlord and remedies provided in this Lease or available afford Landlord a reasonable opportunity to Tenant at law or in equity, which rights commence to cure such default and remedies thereafter proceed with due diligence to cure such default. Such notice shall be cumulative and none shall be exclusive of each other. Notwithstanding ineffective unless a copy is simultaneously also delivered in the foregoing or anything manner required in this Lease to any holder of a mortgage and/or deed of trust affecting all or any portion of the contraryBuilding Complex (collectively, "Mortgagee"), provided that prior to such notice Tenant has been notified (by way of notice of Assignment of Rents and Leases, or otherwise), of the address of a Mortgagee. If Landlord fails to cure such default within the time provided, then Mortgagee shall have an additional 30 days following a second notice from Tenant or, if such default cannot be cured within that time, such additional time as may be necessary provided within such 30 days, Mortgagee commences and diligently pursues a cure (including commencement of foreclosure proceedings if necessary to effect such cure). Tenant's sole remedy will be equitable relief or actual damages but in no event is Landlord or any Mortgagee responsible for consequential damages or lost profit incurred by Tenant as a result of any default by Landlord. If a Mortgagee, or transferee under such Mortgage (hereafter defined), succeeds to Landlord's interest as a result of foreclosure or otherwise, such party shall not be: (ai) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency)default, nor subject to any setoff or defenses that Tenant may have against Landlord, (ii) bound by any amendment (including an agreement for early termination) without its consent made at any time after notice to Tenant that such Mortgager requires such consent; and (biii) bound by payment of Rent in no event shall advance for more than 30 days. Tenant have the right agrees to pay Rent (and will receive credit under this Lease) as directed in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance Mortgagee's notice of Landlord’s obligations hereunder's default under the Mortgage reciting that Mortgagee is entitled to collect Rent.

Appears in 1 contract

Sources: Lease Agreement (Digimarc Corp)

Default by Landlord. The occurrence of any of the following shall constitute a material default by Landlord: (a) The making by Landlord shall not be of any general assignment for the benefit of creditors; the filing by or against Landlord of a petition to have Landlord adjudged a bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in default under the case of a petition filed against Landlord, the same is dismissed within sixty (60) days); the appointment of a trustee or receiver to take possession of substantially all of Landlord’s assets or of Landlord’s interest in this Lease, and Tenant shall where possession is not be entitled restored to exercise any rightLandlord within sixty (60) days; the attachment, remedy execution or recourse against Landlord or otherwise as a consequence other judicial seizure of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address substantially all of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature assets or of Landlord’s failure. Ifinterest in this Lease where such seizure is not discharged within sixty (60) days; The failure to perform the obligations of Landlord under Lease or the Contract; provided, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within forty-five (45) days after written notice by Tenant to Landlord specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than forty-five (45) days is required for performance, then Landlord shall not be in default if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the thirty such forty-five (3045) days day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in In no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance terminate this Lease as a result of Landlord’s obligations hereunderdefault or to offset or deduct Rent or Additional Rent; Tenant’s remedies shall be limited to any other remedy available at law or in equity. Nothing herein contained shall be interpreted to mean that Tenant is excused from paying Rent or any other amounts due hereunder as a result of any default by Landlord it being understood that Tenant’s obligation to pay Rent and Additional Rent is an independent covenant of this Lease.

Appears in 1 contract

Sources: Lease Agreement (California Coastal Communities Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless ------------------- Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of reasonable time, but in no event earlier than thirty (30) days after written notice by Tenant gives to Landlord and (provided to the holder of any first mortgage or deed of trust covering the Premises specifying wherein Landlord has failed to perform such obligations; provided, however, that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligations is such that more than thirty (30) day perioddays are required for performance, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon any such If Landlord is in default by of this lease, Tenant's sole remedy shall be to institute suit against Landlord under this Lease which remains uncured after the expiration in a court of the foregoing notice competent jurisdiction, and cure periods, Tenant shall be entitled have no right to exercise all rights offset any sums expended by Tenant as a result of Landlord's default against future rent and remedies provided other sums due and payable pursuant to this lease. If Landlord is in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages)lease, and as a consequence Tenant recovers a money judgment against Landlord, the judgment shall be satisfied only out of the proceeds of sale received on execution of the judgment and levy against the right, title and interest of Landlord in the Complex Project of which the Premises are a part, and out of rent or other income from such real property receivable by Landlord or out of the consideration received by Landlord from the sale or other disposition of all or any part of Landlord's right, title and interest in the Project of which the Premises are a part. Neither Landlord nor any of the partners comprising the partnership designated as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be personally liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder.

Appears in 1 contract

Sources: Sublease (Ebay Inc)

Default by Landlord. Landlord shall not be in default Landlord's failure to perform or observe any of its obligations under this Lease, and Tenant Lease shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as constitute a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said Lease only if such failure continues shall continue for a period of thirty (30) calendar days (or such additional time, if any, that is reasonably necessary to promptly and diligently cure the failure) after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee receives written notice thereof specifyingfrom Tenant ("Notice Of Landlord's Default") specifying the default. Notwithstanding anything to the contrary in this Lease, with each Notice Of Landlord's Default must either be hand-delivered to Landlord, or delivered to Landlord via first class, certified U.S. Mail, return receipt requested. Each Notice Of Landlord's Default shall give in reasonable particularity, detail the nature and extent of Landlord’s failure. If, however, the failure cannot reasonably be cured within and shall identify the thirty (30Lease provision(s) day period, containing the obligation(s). If Landlord shall not be default in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing performance of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord its obligations under this Lease (including with respect after notice and opportunity to cure as provided herein), Tenant may pursue any monetary remedies available to it under the law and this Lease, provided, in recognition that Landlord must receive timely payments of Rent and operate the Building, Tenant shall have no right of self-help to perform repairs or any other judgment or award obtained against Landlord for Landlord’s default obligation of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out have no right to withhold, set-off, or abat▇ ▇▇▇t unless otherwise specifically provided in this Lease. Notwithstanding the foregoing, if Landlord's default is capable of being cured within ninety (90) calendar days after receipt of the interest Notice Of Landlord's Default but Landlord for any reason fails to cure said default within ninety (90) calendar days after receipt of the Notice Of Landlord Default, and if said default materially limits Tenant's ability to conduct its business in the Complex as the same may Premises, then be encumbered, including insurance and rental proceeds (and Landlord Tenant shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with of self-help to cure said default. If Landlord's default is capable of being cured within one-hundred eighty (180) calendar days after Landlord's receipt of the Notice Of Landlord's Default but Landlord for any such defaultreason fails to cure said default within one hundred eighty (180) calendar days after receipt of the Notice Of Landlord's Default, judgment or award or otherwise and if said default materially limits Tenant's ability to levy execution against any property of Landlord other than Landlord’s interest conduct its business in the Complex. The foregoingPremises, however, shall not limit any right that Tenant might have then subject to obtain specific performance the provisions of Landlord’s obligations hereunder.Section

Appears in 1 contract

Sources: Sublease (Chemconnect Inc)

Default by Landlord. Except as otherwise specifically provided in this Lease, Landlord shall not be deemed to be in default in the performance of any obligation under this Lease, Lease unless and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails until it has failed to perform any of its obligations hereunder and said failure continues for a period of the obligation within thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingby Tenant to Landlord specifying in reasonable detail the nature and extent of the failure; provided, with reasonable particularityhowever, that if the nature of Landlord’s failure. Ifobligation is such that more than thirty (30) days are required for its performance, however, the failure canthen Landlord shall not reasonably be cured deemed to be in default if it commences performance within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days period and thereafter diligently pursues the curing of same diligently cure to completion. Upon any such In the event of a default by Landlord under this Lease which remains uncured after the expiration of the foregoing beyond any applicable notice and cure periodsperiod, Tenant shall be entitled to exercise have all rights and remedies provided in this Lease or available to Tenant at law or and in equity. Furthermore, which rights and remedies shall be cumulative and none shall be exclusive in the event Landlord defaults in the performance of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (aany of its obligations under Section 7.1(a) the liability of Landlord under this Lease (including collectively, “Landlord Repair Obligations”), Tenant, may elect to perform such obligations (“Tenant’s Self-Help Remedy”). In the event that Tenant properly elects Tenant’s Self-Help Remedy, Landlord shall reimburse Tenant for one hundred five percent (105%) of the third-party costs and expenses actually incurred and paid by Tenant to perform any Landlord Repair Obligations with respect to any monetary or other judgment or award obtained against which Landlord for has defaulted within ten (10) days after Landlord’s default receipt of Landlord’s obligations under this Lease or otherwise) shall be limited solely a statement of such reasonable costs and expenses and paid receipts for such work and the completion of such work. Any work performed by Tenant pursuant to its election of Tenant’s actual direct damages (Self-Help Remedy shall comply with all applicable requirements and not Consequential Damages)standards relating to any repairs, and shall be satisfied only out of replacements or additions to the interest of Landlord Premises set forth in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderthis Lease.

Appears in 1 contract

Sources: Lease (Leo Holdings III Corp.)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless If Landlord fails to timely perform any of its obligations hereunder and said under this Lease, which failure continues for a period of more than thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address receipt of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingfrom Tenant specifying such failure, with reasonable particularity, the or if such failure is of a nature of Landlord’s failure. If, however, the failure that it cannot reasonably be cured within the said thirty (30) day periodperiod and continues beyond the time reasonably necessary to cure (and Landlord has not commenced cure within the initial thirty (30) day cure period and thereafter diligently pursued cure to completion), then Landlord shall not be in default hereunder under this Lease and Tenant, subject to the terms of Section 23 of this Lease, shall have the right to cure such default for and on behalf of Landlord and collect the reasonable costs of cure from Landlord, and if Landlord or Landlord’s Mortgagee commences to does not pay any such reasonable costs of cure the failure incurred by Tenant within the thirty (30) days and thereafter pursues after receipt of written demand for payment (together with backup reasonably required by Landlord substantiating such costs incurred), then Tenant may offset such past due amounts against the curing next installments of same diligently Base Rent coming due hereunder. Notwithstanding anything to completionthe contrary contained in this Lease, Tenant shall not deduct more than fifty percent (50%) of the Base Rent from any monthly installment of Base Rent if there are sufficient months remaining in the term of this Lease within which to fully recover the amount owed by Landlord (the “Maximum Offset Amount”). Upon any such If the default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periodsis such as to constructively evict or effectively dispossess Tenant, or substantially destroy Tenant’s right to quiet enjoyment, Tenant shall be entitled have the right to exercise invoke any and all rights and remedies Tenant may have at law and in equity; or the option to exercise any other rights or remedies which Tenant may have at law or equity. Notwithstanding the foregoing, the notice and cure period provided to Landlord above shall not apply to Landlord’s obligation to timely deliver the Premises as required under this Lease. If Tenant makes any advances because of a default by landlord not cured within thirty (30) days after notice from Tenant, Landlord is obligated to repay the full amount of such advances, together with interest on the amount advanced at the rate of interest set forth in this Lease Section 35.I. (12% annum or available the maximum rate of interest permitted by law). No remedy herein or otherwise conferred upon or reserved to Tenant shall be considered to exclude or suspend any other remedy but the same shall be cumulative and shall be in addition to every other remedy given hereunder, or now or hereafter existing at law or in equityequity or by statute, which rights and remedies shall be cumulative every power and none shall be exclusive of each other. Notwithstanding the foregoing or anything in remedy given by this Lease to Tenant may be exercised from time to time and so often as occasion may arise or as may be deemed expedient, and no remedy required herein shall supercede the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of limitation to deduct more than the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderMaximum Offset Amount.

Appears in 1 contract

Sources: Lease Agreement (Secure Computing Corp)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of thirty Landlord within fifteen (3015) business days after receipt of written notice from Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any first mortgage or deed of trust covering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying that Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot obligation is such that more than fifteen (15) business days are reasonably be cured within the thirty (30) day period, required for performance then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the thirty such fifteen (3015) days business day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon In the event Landlord does not commence performance of any maintenance or repair required of Landlord hereunder within the fifteen (15) business day period provided herein, and in the event that such default by Landlord under this Lease maintenance or repair relates to improvements which remains uncured after are wholly within the expiration of the foregoing notice Premises (not including any Building core systems or equipment), Tenant may perform such maintenance or repair, and cure periods, Tenant shall be entitled to exercise all rights prompt reimbursement by Landlord of Tenant’s reasonable costs and remedies provided expenses in taking such action, together with interest thereon at the Agreed Rate. Tenant waives any right to terminate this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding vacate the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Premises on Landlord’s default of under this Lease. Tenant’s sole remedy on Landlord’s obligations under this Lease default is an action for damages or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment injunctive or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderdeclaratory relief.

Appears in 1 contract

Sources: Triple Net Space Lease (Lionbridge Technologies Inc /De/)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for Landlord within a period of thirty reasonable time, but in no event later than Thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any first mortgage or deed of trust covering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation, provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty obligation is such that more than Thirty (30) day perioddays are required for performance, Landlord shall not be in default hereunder if Landlord commences performance within such Thirty (30) day period and thereafter diligently prosecutes the same to completion. Notwithstanding the foregoing, if Landlord defaults in performing any of its repair and maintenance obligations to the Premises as expressly stated in this Lease and such default creates a risk of imminent injury to person or Landlordsubstantial property damage, or unreasonably and materially interferes with Tenant’s Mortgagee commences ability to conduct its business at the Premises, and Landlord has not cured such default within fifteen (15) business days after Tenant shall have given Landlord written notice specifying such default, and in the case of any such default which cannot with due diligence and in good faith be cured within fifteen (15) business days, within such additional period, if any, as may be reasonably required to cure such default with due diligence and in good faith (it being intended that, in connection with any such default which is not susceptible of being cured with due diligence and in good faith within fifteen (15) business days, the failure time within which Landlord is required to cure such default shall be extended for such additional period as may be necessary for the curing thereof with due diligence and in good faith), then Tenant, without being obligated to do so, shall have the right, but not the obligation, to perform the repair or maintenance obligation to the Premises which Landlord failed to perform. The full amount of the reasonable costs and expenses so incurred by Tenant (the “Reimbursable Costs”) shall be paid by Landlord to Tenant, within thirty (30) days and thereafter pursues after written demand therefor (provided that such written demand is accompanied by reasonable documented evidence of the curing of same diligently Reimbursable Costs). Tenant shall give advance notice by telephone to completion. Upon any such default the individual from time to time designated by Landlord to receive such notice of Tenant’s intentions to exercise its rights under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied Section only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property case of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderan emergency.

Appears in 1 contract

Sources: Industrial Lease Agreement (CF Finance Acquisition Corp II)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence in the performance of any alleged default obligation required to be performed by Landlord under this Lease, unless Lease if Landlord fails has failed to perform any of its obligations hereunder and said failure continues for a period of such obligation within thirty (30) days after the receipt of notice from Tenant gives Landlord and (provided that Tenant shall have been given the name and address of specifying in reasonable detail Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingfailure to perform; provided, with reasonable particularityhowever, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligation is such that more than thirty (30) day perioddays are required for its performance, Landlord shall not be deemed in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure it shall commence such performance within the thirty (30) days and thereafter diligently pursues the curing of same diligently to completion. Upon Tenant shall have no rights as a result of any such default by Landlord under this Lease which remains uncured after until Tenant gives thirty (30) days’ notice to any person who has a recorded interest pertaining to the expiration Building and notice of said interest has been provided to Tenant, specifying the nature of the foregoing notice and default. Such person shall then have the right to cure periodssuch default, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and deemed in default if such person cures such default within thirty (b30) in no event shall Tenant have days after receipt of notice of the right in connection with any such default, judgment or award or otherwise within such longer period of time as may reasonably be necessary to levy execution against any property of Landlord other than cure the default if it shall commence actions to permit it to commence performance within thirty (30) days and thereafter diligently pursue the same to completion. Notwithstanding anything to the contrary in the Lease, Landlord’s liability to Tenant for damages resulting from Landlord’s breach of any provision or provisions of the Lease shall not exceed the value of Landlord’s equity interest in the Complex. The foregoing, however, shall not limit any Building and its right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderinsurance proceeds and condemnation awards.

Appears in 1 contract

Sources: Sublease Agreement (Responsys Inc)

Default by Landlord. Landlord shall not be Except as otherwise expressly provided in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder in the performance of any obligation required to be performed under this Lease unless Landlord has failed to perform such obligation within CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION after the receipt of notice from Tenant specifying in detail Landlord's failure to perform; provided, however, that if the nature of Landlord's obligation is such that more than CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION are required for its performance, the Landlord or Landlord’s Mortgagee commences to cure the failure shall not be deemed in default if it shall commence such performance within the thirty (30) days CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION and thereafter diligently pursues the curing of same diligently to completion. Upon Tenant shall have no rights as a result of any such default by Landlord under this Lease which remains uncured after until Tenant gives CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION notice to the expiration then current lender(s) who have a recorded interest pertaining to the Building, specifying the nature of the foregoing notice and default. Such person shall then have the right to cure periodssuch default, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable deemed in default if such person cures such default within CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION after receipt of notice of the default, or within such longer period of time as may reasonably be necessary to cure the default. If Landlord or such person does not cure the default, Tenant may exercise such rights or remedies or shall be provided or permitted by law to recover any damages proximately caused by such default. Notwithstanding anything to the contrary in the Lease, Tenant's remedy for any deficiency); and (b) breach of the Lease by Landlord shall be limited to an action for damages. Tenant agrees that, in no the event that it becomes entitled to receive damages from Landlord, Tenant shall not be allowed to recover from Landlord consequential damages or damages in excess of the out-of-pocket expenditures incurred by Tenant have as a result of a default by Landlord. In any event, Landlord's liability to Tenant for damages resulting from Landlord's breach of any provision or provisions of the right in connection with any such default, judgment or award or otherwise to levy execution against any property Lease shall not exceed the value of Landlord other than Landlord’s 's equity interest in the ComplexBuilding. The Except as expressly provided otherwise in this Lease, Tenant hereby waives and relinquishes any right which Tenant may have to terminate this Lease or withhold any payment owed by Tenant under the Lease, on account of any damage, condemnation, destruction or state of disrepair of the Premises (including, without limiting the generality of the foregoing, howeverthose rights under California Civil Code Sections 1932, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder1933(4), 1941, 1941.1 and 1942).

Appears in 1 contract

Sources: Lease Agreement (Brilliant Digital Entertainment Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s 's Mortgagee) Landlord’s 's Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s Landlords failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s 's Mortgagee commences to cure the failure within the thirty (30) } days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, If Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other recovers a money judgment or award obtained against Landlord for Landlord’s 's default of Landlord’s its obligations under this Lease hereunder or otherwise) , the judgement shall be limited solely to Tenant’s 's actual direct direct, but no consequential, damages (and not Consequential Damages), therefor and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in . In no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s its interest in the Complex. The foregoing, however, foregoing shall not limit any right that Tenant might have to obtain specific performance of Landlord’s 's obligations hereunder.

Appears in 1 contract

Sources: Lease Agreement (Category 5 Technologies Inc)

Default by Landlord. Landlord shall not be in default under of this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Lease if Landlord fails to perform any of its obligations hereunder and said under this Lease within ten (10) days after receipt of written notice from Tenant specifying such failure continues for a period in the case of monetary obligations owed by Landlord to Tenant or thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address receipt of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingfrom Tenant specifying such failure in the case of non-monetary obligations, with reasonable particularityprovided, however, that if the nature of Landlord’s failure. If, however, the failure such default is such that it cannot reasonably be cured within the thirty (30) day such period, then Landlord shall not have such additional time as is reasonably required to cure such default, provided that Landlord commences to cure the default within such period and proceeds to complete such cure with diligence and continuity. If Landlord fails to perform its obligations as set forth above or in the event of an emergency, Tenant may, at its option, in addition to any other remedies at law or equity, incur any expense necessary to perform the obligations of Landlord specified in such notice on Landlord's behalf as Landlord's agent (but Landlord shall remain responsible for such work), in which event Landlord shall reimburse Tenant for any reasonable and actual costs incurred by Tenant within fifteen (15) days after receipt of an invoice therefor. If Landlord fails to pay such costs within fifteen (15) days after receipt of an invoice therefor, then Landlord shall be in default hereunder if Landlord and Tenant may pursue all rights and remedies available hereunder and at law or in equity. In the event that Tenant obtains a money judgment against Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, then Tenant shall be entitled to exercise all rights deduct such amounts from the Annual Base Rent, additional rent and remedies other charges otherwise becoming due hereunder, together with interest on the unpaid balance thereof at the Interest Rate from the date originally due, provided that in this Lease or available to any given month Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and offset a sum greater than fifty percent (b50%) in no event shall Tenant have the right in connection with any of all charges due during such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereundermonth.

Appears in 1 contract

Sources: Commercial Lease Agreement (Bioanalytical Systems Inc)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Lease if (i) Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of from Tenant to Landlord’s failure. If, however, the ; provided that if such failure cannot reasonably be cured within the thirty (said 30) -day period, Landlord shall not be in default hereunder only if Landlord fails to commence the cure of said failure within said 30-day period, or Landlord’s having commenced the curative action within said 30-day period, fails to diligently pursue same, and (ii) each Mortgagee commences of whose identity Tenant has been notified in writing shall have failed to cure the failure such default within the thirty (30) days (or such longer period of time as may be specified in any written agreement between Tenant and thereafter pursues Mortgagee regarding such matter) after receipt of written notice from Tenant of Landlord’s failure to cure within the curing time periods provided above. In the event of same diligently to completion. Upon any such an uncured default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periodsLease, Tenant shall be entitled use reasonable efforts to exercise mitigate its damages and losses arising from any such default and Tenant may pursue any and all rights and remedies provided in this Lease or available to Tenant it at law Law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages)provided, and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumberedhowever, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant claim a constructive or actual eviction or that the Premises have the right become unsuitable or uninhabitable prior to a default and failure to cure by Landlord and its Mortgagee under this Lease and, further provided, in connection with any such defaultno event shall Tenant be entitled to receive more than its actual direct damages, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right it being agreed that Tenant might hereby waives any claim it otherwise may have to obtain specific performance of Landlord’s obligations hereunderfor special or consequential damages.

Appears in 1 contract

Sources: Lease Agreement (Zendesk, Inc.)

Default by Landlord. Subject to the terms and conditions of this section 16.3, Landlord's failure to perform its obligations under this Lease shall constitute a breach of this Lease by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any mortgage or deed of trust encumbering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day perioddays are required for its cure, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. This Lease and the obligations of Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord's performance shall be extended for the period of any such default delay. Any claim, demand, right or defense by Landlord under this Lease which remains uncured after the expiration Tenant that arises out of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, the negotiations which rights and remedies preceded this Lease shall be cumulative and none shall be exclusive of each other. Notwithstanding barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within one (1) year after the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out date of the interest of Landlord in the Complex as the same may then be encumberedinaction, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no omission, event shall Tenant have the or action that gave rise to such claim, demand, right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderdefense.

Appears in 1 contract

Sources: Standard Industrial Lease (Jabil Circuit Inc)

Default by Landlord. Landlord shall not be deemed to be in default under this Leasein the performance of any obligation required to be performed by it hereunder unless and until it has failed to perform such obligation within seven days (7) days after written notice by Tenant to Landlord specifying the nature of Landlord’s alleged default; provided, and Tenant however, that if the nature of Landlord’s alleged default is such that more than thirty (7) days are required for its cure, then Landlord shall not be entitled deemed to exercise be in default if it shall commence such performance within such thirty (7) day period and thereafter diligently prosecute the same to completion. If the Premises, or any rightportion thereof are at any time subject to any mortgage or a deed of trust, remedy and the names and addresses of such mortgage have been provided to Tenant by Landlord in writing, Tenant shall serve on the mortgagee or recourse against Landlord or otherwise as a consequence beneficiary thereunder concurrent copies of any alleged notice of default by served on Landlord under this Lease, unless hereunder. If Landlord fails to perform cure any of its obligations noticed breach hereunder and said failure continues for a within in the time period of provided in this Section 48, then any mortgagee or beneficiary shall have an additional thirty (30) days after Tenant gives Landlord within which to cure ▇▇▇▇▇▇▇▇’s breach, plus such additional time as may be necessary to perfect such mortgagee’s or beneficiary’s rights and remedies under its mortgage or deed of trust (provided that including foreclosure proceedings or the appointment of a receiver) and complete cure in fact. If and when such mortgagee or beneficiary has rendered performance on behalf of Landlord, ▇▇▇▇▇▇▇▇’s breach shall be deemed cured. Notwithstanding anything to the contrary under applicable law, Tenant shall have been given the name and address no right to terminate this Lease as a result of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty (30) day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after during the expiration of the foregoing notice and cure periodsperiods hereunder. If Landlord fails to cure its breach hereunder (or such breach is not cured by a mortgagee or beneficiary as herein specified), Tenant then Landlord shall be entitled to exercise all rights and remedies provided in this Lease or available liable to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord only for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (thereby caused and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for Tenant waives any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise rights to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderrecover consequential damages on account thereof.

Appears in 1 contract

Sources: Settlement Agreement

Default by Landlord. Landlord shall not be in default in the ------------------- performance of any obligation required to be performed under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails has failed to perform any of its obligations hereunder and said failure continues for a period of such obligation within thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address receipt of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingfrom Tenant specifying in detail Landlord's failure to perform; provided, with reasonable particularityhowever, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day perioddays is required for its performance, Landlord shall not be deemed in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure shall commence such performance within the thirty (30) days and thereafter diligently pursues the curing of same diligently to completion. Upon Tenant shall have no rights as a result of any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing until Tenant gives thirty (30) days written notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease any person who has a recorded interest pertaining to the contrary: (a) Building, specifying the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default nature of Landlord’s obligations under this Lease or otherwise) 's default. Such person shall be limited solely then have the right to Tenant’s actual direct damages (and not Consequential Damages)cure such default, and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable deemed in default if such person cures such default within thirty (30) days after receipt of notice of the default, or within such longer period of time as may reasonably be necessary to cure the default. If Landlord or such person does not cure the default, Tenant may exercise such rights or remedies or shall be provided or permitted by law to recover any damages proximately caused by such default. Notwithstanding anything to the contrary in the Lease, Landlord's liability to Tenant for damages resulting from Landlord's breach of any provision or provisions of the Lease shall not exceed the value of Landlord's equity interest in the Project. Neither Landlord nor Landlord's Employees shall have any personal liability for any deficiency); and (b) in no event shall Tenant have the right matter in connection with this Lease or its obligation as Landlord of the Premises. Tenant shall not institute, seek or enforce any such defaultpersonal or deficiency judgment against Landlord or Landlord's Employees, and none of their property shall be available to satisfy any judgment hereunder. Except as specifically set froth in this Lease, Tenant hereby waives and relinquishes any right which Tenant may have to terminate this Lease or award withhold any payment owed by Tenant under the Lease, on account of any damage, condemnation, destruction or otherwise to levy execution against any property state of Landlord other than Landlord’s interest in disrepair of the Complex. The Premises (including, without limiting the generality of the foregoing, howeverthose rights under California Civil Code Sections 1932, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunder1933, 1941, 1941.1 and 1942).

Appears in 1 contract

Sources: Office Lease (Smart & Final Inc/De)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless 19.6.1 If Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty (30) day periodunder this Lease, Landlord shall not be in default hereunder if unless Landlord or Landlord’s Mortgagee commences fails to cure the failure perform such obligations within the thirty (30) days after notice by Tenant to Landlord and any Landlord Mortgagee identified in writing to Tenant specifying the nature of the obligations Landlord has failed to perform; provided, however, that if the nature of Landlord's obligations is such that more than thirty (30) days are reasonably required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter pursues diligently prosecutes the curing of same diligently to completion. Upon any such . 19.6.2 If a Landlord default by Landlord under this Lease occurs (as established pursuant to the terms and conditions contained in 19.8.1 above) which remains uncured after adversely affects Tenant's ability to use the expiration of the foregoing notice and cure periodsPremises, Tenant shall have the right to deliver to Landlord and all Landlord Mortgagees a written notice so stating (the "Second Notice"). If Landlord and all Landlord Mortgagees fail to diligently commence to cure such default within ten (10) days after receipt of the Second Notice, and if such default respects repair and maintenance obligations, Tenant shall have the right to take reasonable actions to cure such default for the account of Landlord. In the event Tenant exercises its rights under this Section 19.8.3, Tenant shall use only those contractors used by Landlord in the Building for work unless (a) such contractors are unwilling or unable to perform, or timely perform, such work, (b) such contractors are unwilling to perform such work for a price that is market-based, or (c) Landlord fails to identify who the approved contractors are for work in the Building within three (3) business days following Tenant's request therefor, in any of which events Tenant may utilize the services of any other qualified, appropriately insured, bonded and licensed (in the state in which the Building is located) contractor which normally and regularly performs similar work in comparable buildings. Prior to starting any such work, Tenant shall furnish Landlord with copies of contracts (redacted to reflect the warranties and guaranties provided for the benefit of Tenant and Landlord contained therein); necessary governmental permits and approvals; and evidence of contractor's and subcontractor's insurance. All such work shall be entitled performed in a good and workmanlike manner using materials of a quality that is at least equal to exercise the minimum quality for the Building. Tenant shall comply with the reasonable rules, regulations and procedures for the performance of work in the Building which have been provided to Tenant. Upon completion of any such work, Tenant shall furnish "as-built" plans (to the extent appropriate), completion affidavits, full and final waivers of lien and receipted bills covering all labor and materials. Tenant shall assure that the work complies with all insurance requirements of this Lease and applicable laws. If any such work will materially and adversely affect the structure of the Building, the exterior appearance of the Building, or any other tenant's leased space, Tenant shall not be permitted to perform such work. If Landlord and all Landlord Mortgagees fail to reimburse Tenant within thirty (30) days after receipt of an invoice therefor (accompanied by reasonable documented evidence of the same), Tenant may offset any reasonable amounts incurred in connection therewith against Base Rent payable hereunder up to an amount equal to fifty percent (50%) of the then-in effect Base Rent over successive months until Tenant is reimbursed in full. Tenant’s rights and remedies provided under this Section 19.8.3 are in addition to, and not in lieu of, any right or remedies Tenant has at law, except to the extent such rights or remedies are waived by Tenant or otherwise identified by Tenant as its sole remedy in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderLease.

Appears in 1 contract

Sources: Office Lease (Atlassian Corp PLC)

Default by Landlord. Landlord shall not be deemed in default under this Lease in the event: (i) a petition for bankruptcy is filed by or against Landlord, unless the same is vacated or dismissed within 20 days; or (ii) Landlord fails to observe, perform, or comply with any of the terms, covenants, agreements, or conditions contained in this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said such failure continues for a period of thirty (30) 20 days after Tenant gives has given Landlord notice of such failure. If Landlord has promptly commenced and (diligently pursued remedial action within such 20-day period but has been unable to cure its default prior to the expiration thereof, such 20-day period shall be extended for the minimum time reasonably required for the completion of Landlord's remedial action, provided that Landlord continues to diligently pursue such remedial action. In the event of default by Landlord: A. If Landlord's default renders the Premises wholly untenantable, or if Landlord’s default arises under Article 21.5(i), then Tenant shall have been given the name and address right to terminate this Lease upon 30 days notice to Landlord, whereupon both parties shall be relieved of Landlord’s Mortgagee) Landlord’s Mortgagee all further obligations hereunder; or B. Tenant may, upon written notice thereof specifyingto Landlord, with cure such default by performing or paying the obligation which Landlord has breached. In such case, all reasonable particularity, expenses incurred by Tenant in curing Landlord's default shall be due and payable from Landlord to Tenant within 10 days after delivery of notice to Landlord of the nature amount of Landlord’s failuresuch expenses. If, however, the failure cannot reasonably be cured If Landlord fails to pay such expenses within the thirty (30) such 10-day period, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure Tenant may deduct the failure within amount of such expenses from the thirty (30) days and thereafter pursues the curing next due installments of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderrent.

Appears in 1 contract

Sources: Lease Agreement (GPS Industries, Inc.)

Default by Landlord. Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence The occurrence of any alleged one or more of the following events shall constitute a default by Landlord under this Lease("Landlord Default"): (i) The failure by Landlord to make any payment required to be made by Landlord hereunder, unless as and when due, where such failure shall continue for a period of ten (10) days after receipt of written notice thereof from Tenant to Landlord; and (ii) The failure by Landlord fails to observe or perform any of its obligations hereunder and said the covenants, conditions or provisions of this Lease where such failure continues shall continue for a period of thirty (30) days after Tenant gives Landlord and (provided that Tenant shall have been given the name and address receipt of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingfrom Tenant to Landlord; provided, with reasonable particularityhowever, that if the nature of Landlord’s failure. If, however, the failure 's Default is such that it cannot reasonably be cured solely by payment of money and that more than thirty (30) days may be reasonably required for such cure, then Landlord shall not be deemed to be in default if Landlord shall commence such cure within the such thirty (30) day periodperiod and shall thereafter diligently prosecute such cure to completion. In the event of a Landlord Default, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure within the thirty (30) days and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); damages sustained by Tenant on account of such Landlord Default, including, if Tenant is required to vacate the Premises due to such default, rental increases sustained by Tenant, attorneys' fees, brokerage fees, and (b) expenses of relocation such as moving expenses and the costs of placing a new rental location in no the same condition as the Premises on the date of the Landlord Default. In the event of a Landlord Default, then Tenant in addition to other rights or remedies it may have, at Tenant's sole option, may perform such obligations of Landlord. Tenant shall Tenant have the right in connection with to set off any such default, judgment or award or otherwise to levy execution expense incurred thereby against any property rent or other payment due or to become due hereunder from Tenant. Except as otherwise expressly modified by the terms of Landlord other than Landlord’s interest this Amendment, the Lease Agreement and Sublease Agreement shall remain unchanged and in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderfull force and effect.

Appears in 1 contract

Sources: Lease Agreement (Yager Kuester Public Fund 1986 Limited Partnership)

Default by Landlord. Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default; Tenant’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything herein to the contrary, under no circumstances shall Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Except as expressly provided in this Paragraph 22 below, nothing herein contained shall be interpreted to mean that Tenant is excused from paying rent due hereunder as a result of any default by Landlord. Notwithstanding anything to the contrary contained in this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless if Landlord fails to perform any of its repair and/or maintenance obligations hereunder under Paragraph 13(b) of this Lease and said failure continues for does not cure such default within the time period provided above, then Tenant shall be permitted to perform such repair and/or maintenance obligation on Landlord’s behalf and at Landlord’s sole cost and expense, provided Tenant first delivers to Landlord an additional two (2) business days prior written notice (“Tenant’s Self-Help Notice”) that Tenant will be performing such obligations, and provided Landlord fails to commence such cure within such additional two (2) business day period. Tenant acknowledges that Tenant’s Self-Help Notice will not be deemed given to Landlord unless the same contains the following language (in at least 12 point, bold face and all capital letters): "LANDLORD’S FAILURE TO PERFORM THE HEREIN DESCRIBED REPAIR AND/OR MAINTENANCE OBLIGATION WITHIN TWO (2) BUSINESS DAYS FOLLOWING RECEIPT OF THIS LETTER MAY RESULT IN TENANT EXERCISING ITS SELF-HELP RIGHT PURSUANT TO PARAGRAPH 22 OF THE LEASE”. Any such cure by Tenant of a period default by Landlord under Subparagraph 13(b) above shall be performed in accordance with provisions of Subparagraph 14(b) of this Lease. Landlord agrees to reimburse Tenant, within thirty (30) days after following Landlord’s receipt of a written statement, for all reasonable and actual costs incurred by Tenant gives Landlord and (provided that Tenant shall have been given the name and address in performing such obligations on behalf of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, . If Landlord fails to pay such amount prior to the nature expiration of Landlord’s failure. If, however, the failure cannot reasonably be cured within the such thirty (30) day period, Tenant may at its election bring an arbitration action for damages against Landlord shall not be on account thereof (an “Action”) in default hereunder if accordance with the terms of Rider 2 attached to this Lease. In the event Tenant is able to obtain a monetary judgment against Landlord or Landlord’s Mortgagee commences from the arbitrator in connection with said Action (the “Judgment”) and Landlord fails to cure pay the failure amount of such Judgment (the “Judgment Amount”) within the thirty (30) days following entry of such Judgment, then and thereafter pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with to offset the Judgment Amount against up to fifty percent (50%) of any monthly installment of Basic Rent next due Landlord and any succeeding monthly installments of Basic Rent until fully satisfied from such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderoffset.

Appears in 1 contract

Sources: Standard Industrial Lease (Dendreon Corp)

Default by Landlord. Should Landlord shall not be in default under this Lease, and Tenant shall not be entitled fail to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, unless Landlord fails to promptly perform any maintenance or repairs required by the provisions of its obligations hereunder this Lease to be performed by Landlord, Tenant may by written notice request that Landlord make such repairs or perform such maintenance and said upon Landlord's failure continues for a period of or refusal to do so within thirty (30) days (plus an additional reasonable period as may be required by Landlord to cure such default, if Landlord shall diligently pursue the cure of such default until same shall be cured) after Tenant gives Landlord issuance of such notice (and (provided that in any event, in case of an emergency irrespective of whether Tenant shall have been given requested or obtained Landlord's prior consent), Tenant shall have the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the thirty right (30) day period, Landlord but shall not be obligated) to perform such maintenance or make such repairs; thereupon, Landlord will pay (or reimburse Tenant for) the reasonable cost of such maintenance or repairs. For these purposes, an "emergency" shall be deemed to exist if, in the good faith judgment of Tenant, prompt repairs are needed in order to prevent death, bodily injury or property damage. In any case in which Tenant shall exercise its aforesaid right to make emergency repairs which were the responsibility of the Landlord, the Tenant shall not make repairs more extensive than are reasonably necessary to abate the emergency. In the event of any other default hereunder if by Landlo▇▇, Tenant's exclusive remedy shall be an action for damages, but prior to pursuing any such action Tenant will give Landlord or Landlord’s Mortgagee commences to cure the failure within the written notice specifying such default with particularity, and Landlord shall have thirty (30) days and thereafter pursues (plus an additional reasonable period as may be required by Landlord to cure such default, if Landlord shall diligently pursue the curing cure of such default until same diligently shall be cured) in which to completion. Upon cure any such default. Unless and until Landlord fails to so cure any default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periodssuch notice, Tenant shall be entitled to exercise all rights and remedies provided in this Lease not have any remedy or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive causes of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall Tenant have the right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderaction by reason thereof.

Appears in 1 contract

Sources: Lease Agreement (Farah Inc)

Default by Landlord. Landlord shall not be liable for any damage to Tenant occurring in connection with the Premises, the Common Areas or the Building unless caused by the gross negligence or willful act of Landlord. Landlord shall not be liable for any damage to Tenant occurring by reason of the act or negligence of any other tenant or occupant of the Building. Further, Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Lease unless Landlord or otherwise as a consequence the holder of any alleged default by mortgage or deed of trust covering the Building whose name and address have been furnished to Tenant in writing fails to perform an obligation required of Landlord under this Lease, unless Landlord fails to perform any of its obligations hereunder and said failure continues for a period of Lease within thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to such holder, specifying the name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifying, with reasonable particularity, respects in which Landlord has failed to perform such obligation. If the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day perioddays are reasonably required for performance or cure, Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee such holder commences to cure the failure performance within the such thirty (30) days day period and thereafter pursues after such commencement diligently prosecutes the curing of same diligently to completion. Upon any such default by Landlord under In no event may Tenant terminate this Lease which remains uncured after or offset or withhold the expiration payment of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies rent or other charges provided for in this Lease or available as a result of Landlord's default. Tenant waives and agrees not to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained assert against Landlord any claim for Landlord’s default of Landlord’s obligations under this Lease incidental or otherwise) shall be limited solely to Tenant’s actual direct consequential damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no event shall sustained by Tenant have the right in connection with any such defaultloss, judgment injury or award damage attributable to this Lease, the Building or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderPremises.

Appears in 1 contract

Sources: Lease Agreement (SpectrumDNA, Inc.)

Default by Landlord. (a) Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any mortgage or deed of trust encumbering the Premises whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the obligation is such that more than thirty (30) day perioddays are required for its cure, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon any such default by Landlord under this Lease which remains uncured after the expiration of the foregoing notice and cure periods, Tenant shall be entitled to exercise all rights and remedies provided in this Lease or available to Tenant at law or in equity, which rights and remedies shall be cumulative and none shall be exclusive of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out of the interest of Landlord in the Complex as the same may then be encumbered, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default, and Tenant’s remedies shall be limited to damages and/or an injunction. Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. This Lease and the obligations of Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord’s performance shall be extended for the period of any such delay. (b) In the event that Tenant is prevented from using, and does not use, the Premises or any portion thereof, as a result of (i) any repair, maintenance, or alteration performed by Landlord, or which Landlord failed to perform as required by this Lease after applicable notice and cure periods, and which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease due to Landlord’s breach of this Lease or due to Landlord’s or its agents, employees or contractors negligence or willful misconduct in connection with the provision of such services, utilities or access (and except to the extent such failure is caused in whole or in part by the action or inaction of Tenant) (any such defaultset of circumstances in clauses (i) and (ii) above an “Abatement Event”), judgment or award or otherwise to levy execution against any property then Tenant shall give Landlord notice of Landlord other than such Abatement Event and, if such Abatement Event continues for five (5) consecutive business days after Landlord’s interest receipt of such notice (the “Standstill Period”), then Base Rent and Operating Expenses shall be abated or reduced, as the case may be, from the sixth (6th) business day after Landlord’s receipt of such notice so long as Tenant continues to be so prevented from using, and does not use, the Premises for the normal conduct of Tenant’s business, in the Complexproportion that the rentable area of the portion of the Premises that Tenant is prevented from using, and does not use, bears to the total rentable area of the Premises. The foregoingTo the extent an Abatement Event is caused by an event covered by Sections 13 or 14, howeverthen Tenant’s right to ▇▇▇▇▇ rent shall be governed by the terms of such Section 3 or 14, as applicable, and the Standstill Period shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderbe applicable thereto.

Appears in 1 contract

Sources: Standard Industrial Lease (Intuity Medical, Inc.)

Default by Landlord. Except with respect to the specific notice and cure periods set forth in Section 11.5 of this Lease, Landlord shall not be in default under this Lease, and Tenant shall not be entitled to exercise any right, remedy or recourse against Landlord or otherwise as a consequence of any alleged default by Landlord under this Lease, Lease unless Landlord fails to perform any obligations required of its obligations hereunder and said failure continues for a period of Landlord within thirty (30) days after written notice by Tenant gives to Landlord and (provided that Tenant shall have been given to the holder of any mortgage or deed of trust encumbering the Project whose name and address of Landlord’s Mortgagee) Landlord’s Mortgagee written notice thereof specifyingshall have theretofore been furnished to Tenant in writing, with reasonable particularityspecifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s failure. If, however, the failure cannot reasonably be cured within the 's obligation is such that more than thirty (30) day perioddays are required for its cure, then Landlord shall not be in default hereunder if Landlord or Landlord’s Mortgagee commences to cure the failure performance within the such thirty (30) days day period and thereafter diligently pursues the curing of same diligently to completion. Upon any such default by Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord under default. Tenant shall only have the right to terminate this Lease as a result of Landlord’s default, which default remains uncured after any applicable cure period, and where the expiration default materially impacts Tenant’s use of the foregoing notice Premises. This Lease and cure periodsthe obligations of Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, Tenant if such inability or delay is caused by reason of a Force Majeure Event, and the time for Landlord's performance shall be entitled to exercise all rights and remedies provided in extended for the period of any such delay. Any claim, demand, right or defense by Tenant that arises out of this Lease or available to Tenant at law or in equity, the negotiations which rights and remedies preceded this Lease shall be cumulative and none shall be exclusive barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within one (1) year after the date of each other. Notwithstanding the foregoing or anything in this Lease to the contrary: (a) the liability of Landlord under this Lease (including with respect to any monetary or other judgment or award obtained against Landlord for Landlord’s default of Landlord’s obligations under this Lease or otherwise) shall be limited solely to Tenant’s actual direct damages (and not Consequential Damages), and shall be satisfied only out notice of the interest of Landlord in the Complex as the same may then be encumberedinaction, including insurance and rental proceeds (and Landlord shall not otherwise be liable for any deficiency); and (b) in no omission, event shall Tenant have the or action that gave rise to such claim, demand, right in connection with any such default, judgment or award or otherwise to levy execution against any property of Landlord other than Landlord’s interest in the Complex. The foregoing, however, shall not limit any right that Tenant might have to obtain specific performance of Landlord’s obligations hereunderdefense.

Appears in 1 contract

Sources: Office Lease (Vector Group LTD)