Default by Landlord. Lessee’s Remedies. (a) In the event that Lessor shall be liable to Lessee for any damages sustained by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting from any default or other claim arising under this Lease shall be satisfied out of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located. (b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 2 contracts
Sources: Lease (Invitae Corp), Lease (Invitae Corp)
Default by Landlord. Lessee’s Remedies.
(a) In It is agreed that in the event that Lessor shall be liable Landlord fails or refuses to Lessee for perform any damages sustained by Lessee as a result of Lessor’s breachthe provisions, it is expressly understood that any money judgment resulting from any default covenants or other claim arising under conditions of this Lease shall on Landlord’s part to be satisfied out of Lessor’s interest in the subject propertykept or performed, includingthat Tenant, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, prior to exercising any right or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained remedy Tenant may have against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or Landlord on account of such deficiencydefault, 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 if the same is cured within thirty (30) calendar days of receipt of said notice. Lessee hereby waivesNotwithstanding any other provisions hereof, Tenant agrees that if the default complained of in the notice provided for by this Section 20.6 is of such a nature that the same can be rectified or cured by Landlord, but cannot with reasonable diligence be rectified or cured by Landlord within said thirty (30) calendar-day period, then such default shall be deemed to be rectified or cured if Landlord within a thirty (30) calendar-day period shall commence the rectification and curing thereof and shall continue thereafter with all due diligence to cause such rectification and curing to proceed. For so long as the Loan is outstanding, Tenant shall promptly notify Lender of any default by Landlord hereunder and of any act or omission of Landlord which would give Tenant the right to cancel or terminate this Lease or to claim a partial or total eviction, which continues beyond any applicable cure period. In the event of a default Landlord hereunder which would give Tenant the right, immediately or after the lapse of a period of time, to cancel or terminate this Lease or to ▇▇▇▇▇ or offset against the extent waivable under lawpayment of rent or to claim a partial or total eviction, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance or in the event of Lessor’s default referred any other act or omission of Landlord which would give Tenant the right to cancel or terminate this Lease or to ▇▇▇▇▇ or offset against the payment of rent or to claim a partial or total eviction, Tenant shall not exercise such right (a) until Tenant has given written notice of such default, act or omission to Lender and (b) unless Lender has failed, within thirty (30) days, unless this Lease provides for a longer cure period in which case such longer cure period shall apply, after Lender receives such notice to cure or remedy the default, act or omission or, if such default, act or omission is not reasonably capable of being remedied by Lender within such thirty (30) day or longer cure period, as applicable, until a reasonable period for remedying such default, act or omission not to exceed the greater of (i) ninety (90) days or (ii) the period to which Landlord would be entitled under the Lease, after similar notice, to effect such remedy, shall have elapsed following the giving of notice to Lender, provided that Lender shall with due diligence give Tenant written notice of its intention to, and shall commence and continue to, remedy such default, act or omission. Nothing contained herein, and Lessee expressly agrees that except as provided in the immediately following sentencehowever, Lessee’s remedy shall be limited construed or operate to obligate or require Lender to remedy such default, act or omission. To the monetary damages referred to extent Lender incurs any expenses or other costs in this Paragraph 30. Notwithstanding the foregoingcuring or remedying such default, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee act or omission, including, without limitation, attorneys’ fees and disbursements, Lender shall be entitled subrogated to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithTenant’s rights against Landlord.
Appears in 2 contracts
Sources: Lease Agreement (Bh Re LLC), Lease Agreement (Bh Re LLC)
Default by Landlord. Lessee’s Remedies.
Landlord shall not be in default under this Lease unless Landlord fails to perform obligations required of Landlord within thirty (a30) days after written notice by Tenant to Landlord and to the holder of any mortgage or deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant 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 are required for its cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently pursues the same to completion. In no event shall Tenant have the event that Lessor shall be liable right to Lessee for any damages sustained by Lessee terminate this Lease as a result of Lessor’s breachLandlord's default, it 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 expressly understood 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 any money judgment resulting from any default arises out of this Lease or other claim arising under the negotiations which preceded this Lease shall be satisfied out of Lessor’s interest in barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within six (6) months after the subject property, including, all rents, profits, insurance and other income from the operation date of the subject property in which the demised premises are locatedinaction, and except for the subject propertyomission, no other realevent or action that gave rise to such claim, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law right or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locateddefense.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 2 contracts
Sources: Office Lease (Motivating the Masses Inc), Standard Office Lease (United Panam Financial Corp)
Default by Landlord. LesseeLandlord shall in no event be charged with default in any of its obligations hereunder unless and until Landlord shall have failed to perform such obligations within thirty (30) days (or such additional time as is reasonably required to correct any such default provided Landlord has commenced action to correct such default within said 30 day period and continues to diligently prosecute such action to completion) after written notice to Landlord by Tenant, specifically describing such failure. All obligations of Landlord hereunder shall be construed as covenants, not conditions; and, except as may be otherwise expressly provided in this Lease, Tenant may not terminate this Lease for breach of Landlord’s Remedies.
(a) In obligations hereunder. All obligations of Landlord under this Lease will be deemed binding upon Landlord only during the period of its ownership of the Project and not thereafter. The term “Landlord” in this Lease shall mean only the owner, for the time being of the Project, and in the event that Lessor of the transfer by such owner of its interest in the Project, such owner shall thereupon be released and discharged from all obligations of Landlord thereafter accruing, but such obligations shall be liable to Lessee binding during the Lease term upon each new owner for any damages sustained by Lessee as a result the duration of Lessorsuch owner’s breach, it is expressly understood that any money judgment resulting from any default or other claim arising ownership. Any liability of Landlord under this Lease shall be satisfied out of Lessor’s limited solely to its interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are locatedProject, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor any personal liability be responsible asserted against Landlord in monetary damages connection with this Lease nor shall any recourse be had to any other property or assets of Landlord. In the event of an immediate necessary repair, Tenant may act for failure Landlord if Landlord is unable to give achieve immediate results, and Landlord shall reimburse Tenant for all reasonable expense incurred by Tenant in such consent unless said consent is withheld maliciously or in bad faithaction based on Landlord’s payment experience with such repair.
Appears in 2 contracts
Sources: Standard Industrial Lease (TWC Holding Corp.), Standard Industrial Lease (Wornick CO Right Away Division, L.P.)
Default by Landlord. Lessee’s Remedies.
(a) Landlord shall not be deemed to be in default in the performance of any obligation required to be performed by it hereunder unless and until it has failed to perform such obligations 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 obligation is such that more than thirty (30) days are required for its performance, then Landlord shall not be deemed to be in default if it shall commence such performance within such thirty (30) day period and thereafter diligently prosecute the same to completion. In the no event that Lessor shall Landlord be liable to Lessee Tenant for any damages sustained by Lessee as a result loss of Lessor’s breach, it is expressly understood that any money judgment resulting from any default or other claim arising under this Lease shall be satisfied out of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personalbusiness interruption, or mixed property of consequential damages for a failure to perform its obligations if Landlord cures such failure within the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest time periods specified in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locatedthis paragraph.
(b) Tenant agrees to give any mortgagee and/or trust deed holders, by registered mail, a copy of any Notice of Default served upon the 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 and/or trust deed holder. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then the mortgagees and/or trust deed holders shall have an additional thirty (30) days within which to cure such default, or if such default cannot be cured within that time, then such additional time as may be necessary if within thirty (30) days mortgagee and/or trust deed holder has commenced and is diligently 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 terminated while remedies are being so diligently pursued.
(c) In the event Landlord fails to perform any of its obligations under this Lease and (except in case of emergency posing an immediate threat to persons or property, in which case no prior notice shall be required) fails to commence such cure within said thirty (30) day period and thereafter continuously with due diligence prosecute such cure to completion, then Tenant may cure such default and to demand reimbursement by Landlord of the cost of such cure, with interest thereon at the Interest Rate, from the date of the expenditure until repaid. If Landlord fails to reimburse Tenant within thirty (30) days after demand, then Tenant may set off such amount against the Rent next due. Notwithstanding anything herein contained the foregoing to the contrary, Lessee hereby waives, to Tenant’s self-help rights under this Section 27(c) shall not exceed the extent waivable under any law, any right to specific performance in the event amount of Lessortwo (2) month’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithBase Rent.
Appears in 2 contracts
Sources: Net Lease Agreement (Confluent, Inc.), Net Lease Agreement (Confluent, Inc.)
Default by Landlord. Lessee’s Remedies.
(a) In the event that Lessor Landlord shall neglect or fail to perform or observe any of the covenants, provisions or conditions contained in this Lease on its part to be performed or observed within thirty (30) days after written notice of default or if more than thirty (30) days shall be liable required because of the nature of the default, if Landlord shall fail to Lessee proceed diligently to cure such default after written notice, then in that event Landlord shall be responsible to Tenant for any and all damages sustained by Lessee Tenant as a result of LessorLandlord’s breach. Tenant agrees, it is expressly understood however, that any damages arising out of a money judgment resulting from any default or other claim arising under this Lease against Landlord shall be satisfied only out of LessorLandlord’s interest estate in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personalProject, or mixed property of the Lessor wherever situated as an offset against rent and Landlord shall be subject have no personal liability whatsoever with respect to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee Tenant hereby waives, to the extent waivable under law, any rights right to satisfy said money judgment against Lessor Landlord except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance Landlord’s estate in the event Project. If the Premises or any part thereof are at any time subject to a first mortgage or a first deed of Lessor’s trust and this Lease or the rentals due from Tenant hereunder are assigned to such mortgages, trustee or beneficiary (called Assignee for purposes of this Article only) and Tenant is given written notice thereof, including the post office address of such Assignee, then Tenant shall give written notice to such Assignee, specifying the default referred to hereinin reasonable detail, and Lessee expressly agrees that except as provided in affording such Assignee a reasonable opportunity to make performance for and on behalf of Landlord. If and when the immediately following sentencesaid Assignee has made performance on behalf of Landlord, Lessee’s remedy such default shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithdeemed cured.
Appears in 2 contracts
Default by Landlord. Lessee’s Remedies.
Landlord shall not be considered to be in default in the performance of any obligation to be performed by Landlord under this Lease unless (a) Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after the date of delivery of written notice of such failure by Tenant to Landlord; provided, however, that if such failure cannot reasonably be cured within said thirty (30) day period (other than Landlord’s payment of any monetary obligation to Tenant), Landlord shall not be in default hereunder unless Landlord fails to commence the cure of said failure as soon as reasonably practicable under the circumstances, or fails diligently to pursue the same to completion; and (b) each Holder of whose identity Tenant has been notified in writing shall have failed to cure such default within thirty (30) days (or such longer period of time as may be specified in any written agreement between Tenant and such Holder regarding such matter) after receipt of written notice from Tenant of Landlord’s failure to cure within the time periods provided above (a “Landlord Default”). In the event that Lessor of a Landlord Default, Tenant shall be liable use reasonable efforts to Lessee for any mitigate its damages sustained by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting and losses arising from any default or other claim arising under this Lease shall be satisfied out of Lessor’s interest in the subject property, including, such Landlord Default and Tenant may pursue any and all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject remedies available to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in it at law or in equity; provided, against Lessor for or on account of such deficiency. Lessee hereby waiveshowever, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for Tenant claim a constructive or actual eviction or that the Premises have become unsuitable or untenantable prior to a Landlord Default and failure to give such consent unless said consent is withheld maliciously cure by Landlord and its Holder under this Lease and, further, in no event shall Tenant be entitled to receive more than its actual direct damages arising from any Landlord Default, it being agreed that for all purposes under this Lease, Tenant waives any claim it otherwise may have for special or in bad faithconsequential damages or any damages attributable to lost profits or revenue or loss of or interruption to Tenant’s business operations.
Appears in 1 contract
Sources: Office Lease Agreement (Velti PLC)
Default by Landlord. Lessee’s Remedies.
(a) In the event that Lessor Landlord shall neglect or fail to perform or observe any of the convenants, provisions or conditions contained in this Lease on its part to be performed or observed within thirty (30) days after written notice of default (or if more than thirty (30) days shall be liable required because of the nature of the default, if Landlord shall fail to Lessee proceed diligently to cure such default after written notice thereof), then in that event Landlord shall be responsible to Tenant for any and all damages sustained by Lessee Tenant as a result of Lessor’s Landlord's breach. Tenant agrees, it is expressly understood however, that any damages arising out of a money judgment resulting from against Landlord or any default or other claim arising under this Lease liability hereunder of Landlord's shall be satisfied only out of Lessor’s interest Landlord's estate in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are locatedBuilding, and except for the subject property, no other real, personal, neither Landlord nor any partners of Landlord nor any officers or mixed property directors of the Lessor wherever situated such partner shall be subject have any personal liability whatsoever with respect to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment liability of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiencyLandlord. Lessee Tenant hereby waives, to the extent waivable under by law, any rights right to satisfy said money judgment against Lessor Landlord except from Landlord's estate in the subject property in which the demised premises are locatedBuilding.
(b) Notwithstanding anything herein contained If the Premises or any part thereof are at any time subject to a first mortgage or a first deed of trust and this Lease or the contraryrentals due from Tenant hereunder are assigned to such mortgagee, Lessee hereby waivestrustee or beneficiary (called Assignee for purposes of this Section only) and Tenant is given written notice thereof, including the post office address of such Assignee, then Tenant shall give written notice to such Assignee, specifying the extent waivable under any lawdefault in reasonable detail, any and affording such Assignee a reasonable opportunity to make performance for and on behalf of Landlord. If and when the said Assignee has made performance on behalf of Landlord, such default shall be deemed cured. If, after such notice to Landlord and the Assignee has made performance on behalf of Landlord, such default shall be deemed cured. If, after such notice to Landlord and the Assignee, if any, the Assignee or Landlord shall fail to cure such default as provided herein, Tenant shall have the right to specific performance cure any such default at Landlord's expense including in the event such expenditure all reasonable costs and attorneys' fees incurred to cure such default or breach of Lessor’s default referred Lease. Tenant shall have no right to herein, and Lessee expressly agrees that terminate this Lease except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithherein otherwise specifically provided.
Appears in 1 contract
Default by Landlord. Lessee’s Remedies.
In no event shall Landlord be deemed to be in default of any obligation hereunder unless and until thirty (a30) In days have expired after delivery of notice of such deficiency to Landlord and to anyone else, or to any lien holder, to whom Landlord has instructed Tenant to send duplicative notices, specifying in detail Landlord's failure to perform, to Landlord and to the holder of any recorded interest pertaining to the Building; provided, however, that if such deficiency cannot be cured or corrected within such 30-day period Landlord shall not be in default if Landlord or anyone on behalf of Landlord commences such cure or correction within such 30-day period and thereafter diligently prosecutes the same to completion. If Landlord is deemed to be in default under the provisions of this Subsection, Tenant shall be entitled to bring an action for declaratory judgment or specific performance, or for damages (subject to the provisions of this Lease limiting Landlord's liability) shown by Tenant to have been proximately caused by such default. Notwithstanding anything to the contrary in this Lease, Tenant agrees that, in the event that Lessor it becomes entitled to receive damages from Landlord, Tenant shall not be liable allowed to Lessee for any recover from Landlord consequential damages sustained or damages in excess of the out-of-pocket expenditures incurred by Lessee Tenant as a result of Lessor’s breacha default by Landlord. 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 Facility. Tenant hereby expressly waives its rights under any and all Laws, now or hereafter in effect, to terminate this Lease (whether prior to or after the commencement of the Term) or to withhold any payment owed by Tenant under this Lease, on account of any damage, condemnation, destruction, or state of disrepair of the Premises, or any part thereof, it is expressly understood being the parties' intent that any money judgment resulting from any default or other claim arising under the provisions of this Lease shall be satisfied out of Lessor’s interest in govern the subject property, including, all rents, profits, insurance parties' rights and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject obligations with respect to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locatedmatters.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Sources: Lease Agreement (Virage Inc)
Default by Landlord. Lessee’s Remedies.
It shall be an event of default under this Lease if Landlord fails to perform any material term or condition under this Lease within thirty (a30) days after receipt of written notice from Tenant specifying the failure, provided, however, that if such failure is of such a nature that Landlord cannot reasonably cure the same within such thirty (30) day period, no such failure will be deemed to exist if Landlord commences to cure the default within such thirty (30) day period and thereafter prosecutes the same to completion with reasonable diligence (but in no event later than ninety (90) days from the date the notice is received from Tenant unless otherwise agreed upon in writing). In the event that Lessor of an emergency or if Landlord fails to cure or to commence performance and diligently pursue the cure of any non-monetary Landlord default within the thirty (30) day period, Tenant shall be liable have the right, but not the obligation to Lessee incur any commercially reasonable cost or make any commercially reasonable expenditure necessary to cure Landlord’s default. Landlord shall reimburse Tenant for any damages sustained by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting such expenditure made or such cost incurred. Any sums due Tenant from any default or other claim arising Landlord under this Lease shall Section may be satisfied out deducted from amounts due or to become due to Landlord under this Lease, or Tenant may seek recovery from Landlord for all such expenses incurred. Without limiting any of LessorTenant’s interest in the subject property, including, all rents, profits, insurance rights and other income from the operation of the subject property in which the demised premises are locatedremedies hereunder, and except for the subject propertyin addition to all other amounts Landlord is otherwise obligated to pay, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee Tenant shall be entitled to specific performancerecover from Landlord all reasonable costs and expenses, but including reasonable attorney fees, incurred by Tenant in no event shall Lessor be responsible in monetary damages for failure enforcing this Lease from and after a Landlord default subject to give such consent unless said consent is withheld maliciously or in bad faithLandlord’s cure rights as set forth above.
Appears in 1 contract
Sources: Solar Lease Agreement
Default by Landlord. LesseeLandlord shall not be in default under this Lease unless Landlord fails to perform obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any mortgage or deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s Remedies.
obligation is such that more than thirty (a30) In days are required for its cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently pursues the event that Lessor same to completion. 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 liable to Lessee extended for the period of any damages sustained such delay. Any claim, demand, right or defense by Lessee as a result Tenant that arises out of Lessor’s breach, it is expressly understood that any money judgment resulting from any default this Lease or other claim arising under the negotiations which preceded this Lease shall be satisfied out of Lessor’s interest in barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within one (1) year after the subject property, including, all rents, profits, insurance and other income from the operation date of the subject property in which the demised premises are locatedinaction, and except for the subject propertyomission, no other realevent or action that gave rise to such claim, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law right or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locateddefense.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Default by Landlord. Lessee’s Remedies.
Landlord shall not be in default under this Lease unless Landlord fails to perform obligations required of Landlord within thirty (a30) days after written notice by Tenant to Landlord and to the holder of any mortgage or deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant 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 are required for its cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently pursues the same to completion. In no event shall Tenant have the event that Lessor shall be liable right to Lessee for any damages sustained by Lessee terminate this Lease as a result of Lessor’s breachLandlord's default, it and T▇▇▇▇▇'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 expressly understood 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 any money judgment resulting from any default arises out of this Lease or other claim arising under the negotiations which preceded this Lease shall be satisfied out of Lessor’s interest in barred unless T▇▇▇▇▇ commences an action thereon, or interposes a defense by reason thereof, within six (6) months after the subject property, including, all rents, profits, insurance and other income from the operation date of the subject property in which the demised premises are locatedinaction, and except for the subject propertyomission, no other realevent or action that gave rise to such claim, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law right or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locateddefense.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Sources: Office Lease (Auxilio Inc)
Default by Landlord. Lessee’s Remedies.
(a) In the event The Landlord agrees that Lessor shall be liable if it fails to Lessee for pay any damages sustained by Lessee as a result installment of Lessor’s breachtaxes prior to sale of said taxes or assessments or any interest, it is expressly understood that principal, costs of other charges upon any money judgment resulting from any default mortgage or mortgages, or other claim arising under liens and encumbrances affecting the leased Premises, and to which this Lease shall may be satisfied out subordinate when any of Lessor’s interest the same become due, or if the Landlord fails to make any repairs or do any work required of the Landlord by the provisions of this Lease, or in any other respect fails to perform any covenant and agreement in the subject propertyLease contained on the part of the Landlord to be performed, includingthen, all rentsand in any such event or events, profitsthe Tenant, insurance after the continuance of any such failure of default for thirty (30) days after notice in writing thereof is given by the Tenant to the Landlord, may at its option pay said taxes, assessments, interest, principal, costs, and other income from charges and cure such defaults all on behalf of and at the operation expense of the subject property in which the demised premises are locatedLandlord, and except for do all necessary work and make all necessary payments in connection therewith including but not limiting the subject propertysame to the payment of any fees, no other realcosts and reasonable charges of or in connection with any legal action which may have been brought; and the Landlord agrees to pay to the Tenant forthwith the amount so paid by the Tenant, personal, together with interest at the rate often percent (10% ) per annum and agrees that the Tenant may withhold any and all rental payments thereafter becoming due to the Landlord pursuant to the provisions of this Lease or mixed property of any extension thereof and may apply the Lessor wherever situated shall be subject same to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute indebtedness of the Landlord to the Tenant until such indebtedness is fully paid with interest as herein provided. Nothing herein contained shall preclude the Tenant from proceeding to collect the amount so paid by it as aforesaid without waiting for rental off-sets to accrue or from exercising any further action, suits, claim other right or demand, in remedy available to Tenant at law or in equity. Landlord agrees to indemnify and save Tenant harmless from all fines, against Lessor for or on account of such deficiency. Lessee hereby waivesclaims, to the extent waivable under lawdemands, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contraryactions, Lessee hereby waivesproceedings, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to hereinjudgments, and Lessee expressly agrees that except as provided in damages (including court costs and reasonable attorney fees) of any kind or nature by anyone whomsoever arising or growing out of any breach or nonperformance by Landlord of the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to covenants in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithLease.
Appears in 1 contract
Default by Landlord. Lessee’s Remedies.
(a) In the event that Lessor shall be liable to Lessee for of any damages sustained by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting from any default or noncompliance hereunder by Landlord, Tenant shall, before exercising any right or remedy provided herein or by law, give Landlord written notice of the claimed breach, default or noncompliance and if prior to its giving such notice to the Landlord, Tenant has been notified in writing (by way of any notice of assignment of rents and leases, or otherwise) of the address of the holder of any mortgage, trust deed or other claim arising under this Lease shall be satisfied out of Lessor’s security agreement then affecting Landlord's interest in the subject propertyBuilding, includingconcurrently with giving the aforesaid notice to Landlord, all rentsTenant shall, profitsby registered mail, insurance and other income from transmit a copy thereof to such holder. For the operation 30 days following the giving of the subject property notice(s) required by the foregoing portion of this section (or such longer period of time as may be reasonably required to cure a matter which, due to its nature, cannot reasonably be rectified within 30 days), Landlord shall have the right to cure the breach, default, or noncompliance involved. If Landlord has failed to cure a default on its part within that period, the aforesaid holder shall have an additional 30 days within which to cure the same or, if such default cannot be cured within that period, such additional time as may be necessary if within such 30 day period the holder has commenced and is diligently pursuing the actions or remedies necessary to cure the breach, default, or noncompliance involved (including but not limited to commencement and prosecution of proceedings to foreclose the mortgage, hold a trustee's sale or otherwise, if necessary to effect such cure), in which event this Lease may not be terminated by Tenant while such actions or remedies are being diligently pursued by the demised premises are locatedholder. If, and except for at the subject property, no other real, personal, or mixed property expiration of the Lessor wherever situated applicable period(s) provided for in this Paragraph, such default, breach or noncompliance has not been cured, Tenant may exercise any available right or remedy. Nothing contained in this Section 18.8 shall be subject deemed to levy impose any obligation on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute lender to correct or cure any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locatedcondition.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Sources: Assignment and Extension of Lease (Caldera Systems Inc)
Default by Landlord. LesseeLandlord shall not be in default under this Lease unless Landlord fails to perform obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any mortgage or deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s Remedies.
obligation is such that more than thirty (a30) days are required for its cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently pursues the same to completion. In no event shall Tenant have the event that Lessor shall be liable right to Lessee for any damages sustained by Lessee terminate this Lease as a result of LessorLandlord’s breachdefault, it and Tenant’s remedies shall be limited to damages and/or an injunction. This Lease and the obligations of Tenant hereunder shall not be affected or impaired because Landlord is expressly understood that unable to fulfill any money judgment resulting from any default of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of strike or other claim arising under 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 or right by Tenant that arises out of this Lease or the negotiations which preceded this Lease shall be satisfied out of Lessor’s interest in barred unless Tenant commences an action thereon within six (6) months after the subject property, including, all rents, profits, insurance and other income from the operation date of the subject property in which the demised premises are locatedinaction, and except for the subject propertyomission, no other realevent or action that gave rise to such claim, personaldemand, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locatedright.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Default by Landlord. LesseeLandlord shall be charged with default in the performance of any of its obligations hereunder: (i) if Landlord shall have failed to perform such obligations within thirty (30) days after written notice to Landlord, or (ii) if the failure cannot with due diligence be cured within such 30-day notice period, Landlord shall fail to proceed promptly after the giving of such notice to cure such failure and thereafter to prosecute and complete the curing thereof with due diligence within such notice period and promptly thereafter to Tenant’s Remedies.
reasonable satisfaction (a“Landlord Default”). In the event of a Landlord Default which remains uncured after the applicable notice and cure period, then Tenant may, at its option (but shall not be required to do so), cure the Landlord Default on behalf of the Landlord. Landlord shall reimburse Tenant for the reasonable and actual expenses incurred by the Tenant in the performance of such cure within thirty (30) days from receipt of an invoice therefor, accompanied by such reasonable documentary evidence as Landlord may request. In the event that Lessor ▇▇▇▇▇▇▇▇ fails to so reimburse Tenant with the thirty (30) day period, then such amount shall be liable to Lessee for any damages sustained by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting from any default or other claim arising under this Lease shall be satisfied out of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income deducted from the operation next installment and successive installments of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiencyRent that become due. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in In the event of Lessora Landlord Default which remains uncured by Landlord for a period of more than ninety (90) days and has a material and adverse impact on Tenant’s default referred ability to hereindo business in the Shopping Center, Tenant may terminate this Lease upon written notice to Landlord without any further liability to Landlord, except for any liabilities and obligations accrued prior to the termination of the Lease, provided, however, Tenant’s right to terminate the Lease under this Section 11.3 shall expire, and Lessee expressly agrees that except as provided in become null and void, immediately upon a cure of the immediately following sentence, LesseeLandlord Default completed prior to Tenant’s remedy shall be limited to termination of the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithLease.
Appears in 1 contract
Sources: Lease Agreement
Default by Landlord. Lessee’s Remedies.
(a) In the event that Lessor LANDLORD shall not be liable deemed to Lessee for any damages sustained by Lessee as a result be in default of Lessor’s breach, it is expressly understood that any money judgment resulting from any default or other claim arising under this Lease unless LANDLORD fails to perform obligations required of LANDLORD within a reasonable time, but in no event later than 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 obligation is such that more than thirty (30) days are required for performance, then LANDLORD shall not be satisfied out in default of Lessor’s interest in the subject property, including, all rents, profits, insurance this Lease if performance is commenced within such thirty (30) day period and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject thereafter diligently pursued to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locatedcompletion.
(b) Notwithstanding anything herein contained Provided that TENANT has paid Rent or other sums required to the contrary, Lessee hereby waives, be paid to the extent waivable under any law, any right to specific performance LANDLORD and in the event any mortgagee or beneficiary of Lessor’s default referred any note secured by a deed of trust or mortgage on the Premises or any part thereof shall commence foreclosure proceedings as a result of LANDLORD'S failure to hereinperform any of its obligations thereunder, then and in such event TENANT shall have the right, but not the obligation, to perform such obligation and pay any foreclosure costs in connection therewith, and Lessee expressly agrees that except as provided to set off any costs or expenses incurred in connection with such performance, together with any foreclosure costs paid, against the immediately following sentencenext ensuing installments of Minimum Rent and Additional Rent due from TENANT to LANDLORD. Thereafter, Lessee’s remedy all such Rent shall be limited paid directly to LANDLORD. In the monetary damages referred event LANDLORD fails to commence making repairs required to be made by it under this Lease within thirty (30) days of written notice by TENANT to LANDLORD of the need for such repairs, TENANT may undertake such repairs in place of LANDLORD and LANDLORD, on demand, shall reimburse TENANT for the reasonable cost of such repairs; provided, however, that nothing in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor 18.3 shall entitle TENANT to give any consent as provided in Paragraph 19 Lessee shall be entitled off-set rights against Rent or other payment obligations to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithLANDLORD under this Lease.
Appears in 1 contract
Default by Landlord. Lessee’s Remedies.
(a) In the event that Lessor shall be liable to Lessee for any damages sustained by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting from any default by Landlord, Tenant shall have the right to bring an action for actual damages, but prior to any such action Tenant will give Landlord written notice specifying such default with particularity, and Landlord shall have a period of thirty (30) days following the date of such notice in which to commence the appropriate cure of such default, which cure shall thereafter be diligently pursued to completion. Unless and until Landlord fails to commence and diligently pursue the appropriate cure of such default after such notice or complete same within a reasonable period of time, Tenant shall not have any remedy or cause of action by reason thereof (except in the case of emergency as provided below). In the event of any breach or default by Landlord of any term or provision of this Sublease, Tenant agrees to look solely to the equity or interest then-owned by Landlord in the Building, and in no event shall any deficiency judgment be sought or obtained against Landlord. In addition to Tenant's other claim arising remedies hereunder, if Landlord defaults in the performance of any obligation imposed on it under this Lease Sublease and does not cure such default as provided above, Tenant, without waiver of or prejudice to any other right or remedy it may have, shall be satisfied out of Lessor’s interest in have the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waivesright, to the extent waivable under lawpermitted by the Master Lease, at any rights time thereafter, to satisfy said money judgment against Lessor except from cure such default for the subject account of the Landlord, and Landlord shall reimburse Tenant upon invoice for any amount paid and any expense or contractual liability so incurred. In the event of emergency, or where necessary to prevent injury to persons or damage to property in which the demised premises are located.
(b) Notwithstanding anything herein contained or to the contrarymitigate damages, Lessee hereby waives, and to the extent waivable under any lawpermitted by the Master Lease, any right to specific performance in Tenant may cure a default by Landlord before the event expiration of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performancewaiting period, but in no event shall Lessor be responsible in monetary damages for failure after giving such written or oral notice to give such consent unless said consent Landlord as is withheld maliciously or in bad faithreasonably practical under all of the circumstances.
Appears in 1 contract
Sources: Sublease Agreement (A21 Inc)
Default by Landlord. Lessee’s Remedies.
(a) In the event that Lessor It shall be liable to Lessee for any damages sustained an event of default by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting from any default or other claim arising Landlord under this Lease if Landlord fails to perform any of its obligations hereunder and said failure continues for a period of 30 days after Tenant delivers written notice of default and demand for performance to Landlord, provided that if such failure cannot be reasonably cured within said 30 day period, Landlord shall not be satisfied out in default hereunder so long as Landlord commences curative action within such 30 day period and diligently and continuously pursues the curative action to completion. Upon the occurrence of Lessor’s interest an event of default by Landlord, Tenant may (i) terminate this Lease upon written notice to Landlord, (ii) cure such default and be reimbursed by Landlord upon demand for the reasonable costs of such cure, and/or (iii) exercise any other remedy available at law, in equity or by statute for such default Cumulative Remedies. No right or remedy herein conferred upon or reserved to a party is intended to be exclusive of any other right or remedy set forth herein or otherwise available to the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are locatedparty, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, every right and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited cumulative and in addition to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoingany other right or remedy given hereunder or now or hereafter existing at law, in equity or by statute. Dispute Resolution Provisions. Landlord acknowledges that Tenant is an agency of the event State of failure Texas and by Lessor law may not participate in binding arbitration with private persons. If at any time there is an issue or dispute between Landlord and Tenant regarding this Lease and the performance of a party hereunder, the parties will, within 10 days following mailing of written request for a meeting concerning such issue or dispute, meet in face-to-face negotiations in an attempt to give any consent as provided resolve the matter. If thereafter the parties agree to non-binding mediation in Paragraph 19 Lessee a further effort to resolve the dispute, the parties will choose a mutually agreeable third party neutral to mediate the dispute between the parties. Mediation shall be entitled non-binding and shall be confidential. All expenses of mediation, except expenses of the individual parties, shall be shared equally by the parties. Each party shall be represented in the mediation by a person with authority to specific performancesettle the dispute. If the parties agree to mediation, but in no event then the default remedies of Article 16 shall Lessor be responsible in monetary damages suspended for failure a period lasting for the shorter of (i) the end of the mediation, or (ii) 30 days following the date of the agreement to give such consent unless said consent is withheld maliciously or in bad faithmediate.
Appears in 1 contract
Sources: Space Lease Agreement
Default by Landlord. LesseeLandlord shall be deemed to be in default hereunder only if Landlord fails to perform or comply with any material obligation on its part hereunder and
(i) such failure shall continue for more than the time of any cure period provided herein, or,
(ii) if no cure period is provided herein, for more than sixty (60) days after written notice thereof from Tenant, or, (iii) if such default cannot reasonably be cured within such applicable cure period, subject to Force Majeure, Landlord shall not within such period commence the cure of such default, or, having so commenced, shall thereafter fail to diligently prosecute such cure. Upon the occurrence of default by Landlord as described above, which default substantially and materially interferes with Tenant’s Remedies.
use of the Premises, Tenant shall have the exclusive right (a) In to offset or deduct only from the event that Lessor shall be liable to Lessee for any Rent becoming due hereunder, the amount of actual damages sustained incurred by Lessee Tenant as a direct result of LessorLandlord’s breachdefault, it is expressly understood that any money but only after obtaining a judgment resulting from any default or other claim arising under this Lease shall be satisfied out in a court of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except competent jurisdiction for the subject property, no other real, personalsuch damages, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contraryseek equitable relief in accordance with applicable Laws; provided, Lessee hereby waiveshowever, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but (i) in no event shall Lessor Tenant be responsible entitled to offset from all or any portion of the Rent becoming due hereunder or to otherwise recover or obtain from Landlord or its Agents any damages (including, without limitation, any consequential, incidental, punitive or other damages proximately arising out of a default by Landlord hereunder) or Losses other than Tenant’s actual damages as described in monetary damages the foregoing clause (a), and (ii) Tenant agrees that, notwithstanding anything to the contrary herein or pursuant to any applicable Laws, Tenant’s remedies hereunder shall constitute Tenant’s sole and absolute right and remedy for failure to give such consent unless said consent is withheld maliciously or in bad faitha default by Landlord hereunder.
Appears in 1 contract
Sources: Lease Agreement
Default by Landlord. Lessee’s Remedies.
Landlord shall not be deemed to be in default in the performance of any obligation required to be performed by it under this Lease unless and until it has failed to perform such obligation within thirty (a30) In days after written notice by Tenant to Landlord, and to any mortgagee or beneficiary of a deed of trust with an interest in any encumbrance affecting Landlord's interest in the event Premises, specifying in reasonable detail the nature and extent of any such failure; provided, however, that Lessor if the nature of Landlord's obligation is such that more than thirty (30) days are required for its performance, then Landlord shall not be deemed to be in default if it commences such performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. If, after notice to Landlord of default, Landlord fails to cure such default as provided herein, then Tenant shall have the right to cure such default at Landlord's expense. Tenant shall not have the right to terminate this Lease or to withhold, reduce or offset any amount against any payments of basic annual rent or any other charges due and payable hereunder, and Tenant's remedy shall be liable limited to Lessee for any damages sustained by Lessee as a result of Lessor’s breach, it and/or an injunction. It is expressly understood and agreed to that any money judgment resulting from any default or other claim arising under this Lease shall be satisfied only out of Lessor’s interest in the subject property, including, all rents, profitsissues, insurance and profits or other income ("Income") actually received from the operation of the subject property in which the demised premises are located, Building and except for the subject property, no other real, personal, personal or mixed property of Landlord (the Lessor term "Landlord" for purposes of this Section only shall mean any and all investors, owners, managers and agents, if any, of Landlord), wherever situated situated, shall be subject to levy on any such judgment obtained against Lessor, Landlord and if Lessor’s interest in the subject property whether or not such Income is insufficient sufficient for the payment of such judgment, Lessee Tenant will not institute any further action, suitssuit, claim or demand, in law or in equity, against Lessor Landlord for or on the account of such deficiency. Lessee Tenant hereby waives, to the extent waivable under law, any rights right to satisfy said money judgment against Lessor Landlord except from Income received by Landlord for the subject property in which operation of the demised premises are locatedBuilding.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Sources: Office Space Lease (DVD Express Inc)
Default by Landlord. Lessee’s Remedies.
If Landlord defaults in the observance or performance of any covenant, condition or obligation in this Lease on its part to be observed or performed, Landlord shall have thirty (a30) In days after receiving written notice from Tenant stating the event that Lessor shall default complained of and referring to the Article and Section in this Lease relied on by Tenant, to cure or cause to be liable cured any such default, or if such default is not capable of being cured within such thirty (30) days to Lessee for commence to cure the same during such thirty (30) days and thereafter proceed to cure the same in good faith, with diligence, and within a reasonable period of time. If Landlord fails to cure any damages sustained by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting from any such default or other claim arising under to diligently and in good faith pursue the cure as provided for herein, or if any representation or warranty made by or on behalf of Landlord in this Lease or in any document or agreement delivered in connection with the transactions contemplated by this Lease shall be satisfied out prove to have been false or incorrect or breached in any material respect on the date as of Lessor’s interest in the subject propertywhich made, then Tenant may ▇▇▇ Landlord for its damages, including, all rentswithout limitation, profitssuch additional sums as the court may adjudge reasonable as attorneys' fees in any successful suit or action instituted by Tenant to enforce the provisions of this Lease, insurance and other income from the may further obtain injunctive relief if necessary to maintain operation of the subject property in which Demised Premises or comply with applicable legal requirements of any governmental authority. In addition, Tenant may at its option, without waiving any claim for damages for breach of agreement, at any time thereafter cure such default for the demised premises are locatedaccount of Landlord, and except any amount paid or any contractual liability incurred by Tenant in so doing shall be deemed paid or incurred for the subject account of Landlord, and Landlord agrees to reimburse Tenant therefor or save Tenant harmless therefrom; provided that Tenant may cure any such default as aforesaid prior to the expiration of said thirty (30) day period if reasonably necessary to cure a default under any mortgage or encumbrance which is a lien on the Demised Premises, or to protect the Demised Premises or Tenant's interest therein, or to prevent injury or damage to persons or property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest enable Tenant to conduct its business in the subject property is insufficient Demised Premises. If Landlord shall fail to reimburse Tenant upon demand for any amount paid for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waivesLandlord hereunder or for any other sum payable to Tenant pursuant to this Lease, to said amount plus interest thereon at the extent waivable under law, any rights to satisfy said money judgment against Lessor except rate per annum set forth in Section 3.1.4 hereof from the subject property in which date of demand upon Landlord for payment, may be deducted by Tenant from the demised premises are locatednext or any succeeding payments of Annual Rent due hereunder.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Sources: Lease Agreement (Integrated Living Communities Inc)
Default by Landlord. Lessee’s Remedies.
(a) In the event of any default by Landlord, Tenant’s exclusive remedy will be an action for damages; provided, however, prior to any such action Tenant will give Landlord written notice specifying such default with particularity, and Landlord will have a period of 20 days following the date of such notice in which to commence the appropriate cure of such default. Unless and until Landlord fails to commence and diligently pursue the appropriate cure of such default after such notice or complete same within a reasonable period of time, Tenant will not have any remedy or cause of action by reason thereof. Notwithstanding any provision of this Lease, Landlord will not at any time have any personal liability under this Lease, and Tenant’s sole remedy with respect thereto will be a suit for damages and not a termination of the Lease. As a material inducement to Landlord to enter into this Lease with Tenant, Tenant hereby acknowledges and agrees that Lessor shall be liable to Lessee Landlord's liability for any damages sustained breach or default by Lessee as a result Landlord of Lessor’s breach, it is expressly understood that any money judgment resulting from any default term or other claim arising under provision of this Lease shall be satisfied out of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to greater of the following (the "Liability Cap"): (i) Landlord's equity or interest then owned by Landlord in this Paragraph 30the Building, or (ii) a cumulative maximum of $2,500,000.00. Notwithstanding the foregoing, in the event that any breach or default by Landlord of failure by Lessor to give any consent as provided in Paragraph 19 Lessee term or provision of this Lease results from Landlord's gross negligence or willful misconduct, the Liability Cap set forth above shall be entitled increased to specific performance, but in a cumulative maximum of $5,000,000.00. In no event shall Lessor will any deficiency judgment be responsible sought or obtained against Landlord in monetary the event Tenant's damages exceed the Liability Cap, and Tenant hereby expressly waives any claims for failure to give such consent unless said consent is withheld maliciously or damages in bad faithexcess of the Liability Cap.
Appears in 1 contract
Default by Landlord. Lessee’s Remedies.
(a) In the event that Lessor The Deed of Trust provides that, under certain conditions, Lender shall be liable entitled to Lessee for collect, receive and demand payment of any and all rents and other amounts due on and under the Lease without ▇▇▇▇▇▇'s taking possession of the Property or otherwise assuming any of Landlord's obligations under the Lease. Starting on the date ▇▇▇▇▇▇ gives written notice to Tenant that Landlord is in default under the Loan Documents, Landlord authorizes and directs Tenant to, and ▇▇▇▇▇▇ agrees to, pay to ▇▇▇▇▇▇, as assignee, all rents and other amounts due under the Lease in accordance with ▇▇▇▇▇▇'s written instructions. Tenant shall have no obligation or responsibility to ascertain whether such demand by ▇▇▇▇▇▇ is permitted under the Deed of Trust. Landlord, its successor and/or assigns hereby agree to indemnify and hold harmless Tenant against any expenses, claims, losses, or damages sustained incurred by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment Tenant resulting from any default or arising out of claims by Landlord, or it successors or assigns, that such payments should not have been, or cannot be, made to Lender. Rent payments made by Tenant to Lender pursuant to this Agreement shall continue until the earlier of:
(i) no further rent or other claim arising amounts are due or payable under this the Lease;
(ii) Lender gives Tenant written notice that Landlord is no longer in default under the Loan Documents and instructs Tenant that all amounts due under the Lease shall thereafter be satisfied out of Lessor’s payable to Landlord; or
(iii) ▇▇▇▇▇▇ sends Tenant notice that an Enforcement Event has occurred. Subject to Section 3 hereof, upon such notice Successor shall succeed to ▇▇▇▇▇▇▇▇'s interest in as the subject propertylandlord under the Lease, including, after which all rents, profits, insurance rent and other income from due under the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated Lease shall be subject become payable to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locatedSuccessor.
(b) Notwithstanding anything herein contained If Landlord defaults under the Lease, ▇▇▇▇▇▇ agrees to deliver a copy of any notice of such default to Lender. If the default by ▇▇▇▇▇▇▇▇ gives rise to the contraryright of termination by ▇▇▇▇▇▇, Lessee hereby waives, ▇▇▇▇▇▇ agrees to give ▇▇▇▇▇▇ the extent waivable under any law, any right to specific performance cure the default in accordance with the event of Lessor’s default referred terms and conditions contained in Section 6 hereof. All notices from Tenant to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy Lender sent under this Section 4(b) shall be limited to delivered in accordance with the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event notice provisions of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithSection 10 hereof.
Appears in 1 contract
Sources: Commercial Lease Agreement (Tandy Leather Factory Inc)
Default by Landlord. Lessee’s Remedies.
(a) In the event The Landlord agrees that Lessor shall be liable if it fails to Lessee for pay any damages sustained by Lessee as a result installment of Lessor’s breachtaxes prior to sale of said taxes or assessments or any interest, it is expressly understood that principal, costs of other charges upon any money judgment resulting from any default mortgage or mortgages, or other claim arising under liens and encumbrances affecting the leased Premises, and to which this Lease shall may be satisfied out subordinate when any of Lessor’s interest the same become due, or if the Landlord falls to make any repairs or do any work required of the Landlord by the provisions of this Lease, or in any other respect fails to perform any covenant and agreement in the subject propertyLease contained on the part of the Landlord to be performed, includingthen, all rentsand in any such event or events, profitsthe Tenant, insurance after the continuance of any such failure of default for thirty (30) days after notice in writing thereof is given by the Tenant to the Landlord, may at its option pay said taxes, assessments, interest, principal, costs, and other income from charges and cure such defaults all on behalf of and at the operation expense of the subject property in which the demised premises are locatedLandlord, and except for do all necessary work and make all necessary payments in connection therewith including but not limiting the subject propertysame to the payment of any fees, no other realcosts and reasonable charges of or in connection with any legal action which may have been brought; and the Landlord agrees to pay to the Tenant forthwith the amount so paid by the Tenant, personal, together with interest at the rate of 12% per annum and agrees that the Tenant may withhold any and all rental payments thereafter becoming due to the Landlord pursuant to the provisions of this Lease or mixed property of any extension thereof and may apply the Lessor wherever situated shall be subject same to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute indebtedness of the Landlord to the Tenant until such indebtedness is fully paid with interest as herein provided. Nothing herein contained shall preclude the Tenant from proceeding to collect the amount so paid by it as aforesaid without waiting for rental off-sets to accrue or from exercising any further action, suits, claim other right or demand, in remedy available to Tenant at law or in equity. Landlord agrees to indemnify and save Tenant harmless from all fines, against Lessor for or on account of such deficiency. Lessee hereby waivesclaims, to the extent waivable under lawdemands, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contraryactions, Lessee hereby waivesproceedings, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to hereinjudgments, and Lessee expressly agrees that except as provided in damages (including court costs and reasonable attorney fees) of any kind or nature by anyone whomsoever arising or growing out of any breach or nonperformance by Landlord of the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to covenants in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithLease.
Appears in 1 contract
Default by Landlord. Lessee’s Remedies.
(a) In Subject to Section 10.1, 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 Lessor 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 if the same is cured within thirty (30) days of receipt of said notice. Notwithstanding any other provision hereof, Tenant agrees that if the default complained of in the notice provided for by this Section is of such a nature that the -same can be rectified or cured by Landlord, but cannot with reasonable diligence be rectified or cured by Landlord within said thirty (30) day period, then such default shall be liable deemed to Lessee for any damages sustained by Lessee be rectified or cured if Landlord within a thirty (30) day period shall commence the rectification and curing thereof and shall continue thereafter with all due diligence to cause such rectification and curing to proceed. In no event shall Tenant have the right to terminate or rescind this Lease as a result of Lessor’s breach, it is expressly understood that Landlord's default as to any money judgment resulting from any default covenant or other claim arising under agreement contained in this Lease shall be satisfied out or as a result of Lessor’s interest the breach of any promise or inducement hereof, whether in the subject property, including, all rents, profits, insurance Lease or elsewhere. Tenant hereby waives such remedies of termination and other income from the operation of the subject property in which the demised premises are located, recession and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy Tenant's remedies for default hereunder and for breach of any promise or inducement shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to a suit for specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithdeclaratory judgment, and/or injunctive relief.
Appears in 1 contract
Sources: Office Lease (Mego Financial Corp)
Default by Landlord. Lessee’s Remedies.
(a) In the event that Lessor Landlord shall not be liable in default under this Lease, and Tenant shall not be entitled to Lessee for exercise any damages sustained by Lessee right, remedy or recourse against Landlord or otherwise as a result consequence of Lessor’s breach, it is expressly understood that any money judgment resulting from any alleged default or other claim arising by Landlord under this Lease 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 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 satisfied out 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 Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject same diligently to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiencycompletion. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said If Tenant recovers a money judgment against Lessor except from Landlord for Landlord's default of its obligations hereunder or otherwise, the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy judgment shall be limited to Tenant's actual direct, but no consequential, damages therefore and shall be satisfied only out of the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, interest of Landlord in the event of failure by Lessor to give Complex as the same may then be encumbered, and Landlord shall not otherwise be liable for any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in deficiency. In no event shall Lessor be responsible Tenant have the right to levy execution against any property of Landlord other than its interest in monetary damages for failure the Complex. The foregoing shall not limit any right that Tenant might have to give such consent unless said consent is withheld maliciously or in bad faithobtain specific performance of Landlord's obligations hereunder.
Appears in 1 contract
Default by Landlord. LesseeExcept 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 unless Landlord fails to perform obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord and to the holder of any mortgage or deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s Remedies.
obligation is such that more than thirty (a30) days are required for its cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently pursues the same to completion. 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. In no event shall Tenant have the event that Lessor shall be liable right to Lessee for any damages sustained by Lessee terminate this Lease as a result of LessorLandlord’s breachdefault, it and Tenant’s remedies shall be limited to damages and/or an injunction. This Lease and the obligations of Tenant hereunder shall not be affected or impaired because Landlord is expressly understood 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 any money judgment resulting from any default arises out of this Lease or other claim arising under the negotiations which preceded this Lease shall be satisfied out of Lessor’s interest in barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within six (6) months after the subject property, including, all rents, profits, insurance and other income from the operation date of the subject property in which the demised premises are locatedinaction, and except for the subject propertyomission, no other realevent or action that gave rise to such claim, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law right or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locateddefense.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Sources: Office Lease (Ladenburg Thalmann Financial Services Inc)
Default by Landlord. Lessee’s Remedies.
(a) Landlord shall not be deemed to be in default in the performance of any obligation required to be performed by it hereunder unless and until it has failed to perform such obligations 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 obligation is such that more than thirty (30) days are required for its performance, then Landlord shall not be deemed to be in default if it shall commence such performance within such thirty (30)-day period and thereafter diligently prosecute the same to completion. In the no event that Lessor shall Landlord be liable to Lessee Tenant for any damages sustained by Lessee as a result loss of Lessor’s breach, it is expressly understood that any money judgment resulting from any default or other claim arising under this Lease shall be satisfied out of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personalbusiness interruption, or mixed property of consequential damages if Landlord performs its obligations within the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest time periods specified in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locatedthis Paragraph.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly Tenant agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent mortgagee and/or trust deed holders, by registered mail, a copy of any Notice of Default served upon the 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 and/or trust deed holder. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then the mortgagees and/or trust deed holders shall have an additional thirty (30) days within which to cure such default, or if such default cannot be cured within that time, then such additional time as provided in Paragraph 19 Lessee shall may be entitled necessary if within thirty (30) days mortgagee and/or trust deed holder has commenced and is diligently pursuing the remedies necessary to specific performancecure such default (including, but not limited to, commencement of foreclosure proceedings, if necessary to effect such cure), in no which event this Lease shall Lessor not be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithterminated while remedies are being so diligently pursued.
Appears in 1 contract
Default by Landlord. Lessee’s Remedies.
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 unless Landlord fails to perform obligations required of Landlord within thirty (a30) In days after written notice by Tenant to Landlord and to the holder of any mortgage or deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant 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 are required for its cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently pursues the same to completion. 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 to the extent Tenant obtains a final judgment of constructive eviction in accordance with applicable law or as otherwise permitted by applicable law, in no event that Lessor shall be liable Tenant have the right to Lessee for any damages sustained by Lessee terminate this Lease as a result of LessorLandlord’s breachdefault, it and Tenant’s remedies shall be limited to damages and/or an injunction. This Lease and the obligations of Tenant hereunder shall not be affected or impaired because Landlord is expressly understood 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 any money judgment resulting from any default arises out of this Lease or other claim arising under the negotiations which preceded this Lease shall be satisfied out of Lessor’s interest in barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within one (1) year after the subject property, including, all rents, profits, insurance and other income from the operation date of the subject property in which the demised premises are locatedinaction, and except for the subject propertyomission, no other realevent or action that gave rise to such claim, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law right or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locateddefense.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Sources: Office Lease (Opko Health, Inc.)
Default by Landlord. Lessee’s Remedies.
(a) Landlord shall not be in default under this Lease unless Landlord fails to perform obligations required of Landlord within [*] 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 [*] are required for its cure, then Landlord shall not be in default if Landlord commences performance within such [*] period and thereafter diligently pursues the same to completion. In no event shall Tenant have the event that Lessor shall be liable right to Lessee for any damages sustained by Lessee terminate this Lease as a result of Lessor’s breachLandlord's default, it 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 expressly understood 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 any money judgment resulting from any default arises out of this Lease or other claim arising under the negotiations which preceded this Lease shall be satisfied out of Lessor’s interest in barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within twelve (12) months after the subject property, including, all rents, profits, insurance and other income from the operation date of the subject property in which the demised premises are locatedinaction, and except for the subject propertyomission, no other realevent or action that gave rise to such claim, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law right or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locateddefense.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Sources: Standard Lease (Ambarella Inc)
Default by Landlord. LesseeIf Landlord fails to comply with any obligation of Landlord contained in the Lease and such failure continues uncured for a period of thirty (30) days following written notice thereof from Tenant to Landlord, or such longer period as may be reasonable under the circumstances so long as Landlord commences to cure within such thirty (30} day period and thereafter diligently prosecutes such cure to completion (a “Landlord Default”), then Tenant shall have the right to pursue any and all remedies permitted at law (exclusive of consequential, punitive, or special damages) or in equity, including, without limitation, specific performance of Landlord’s Remedies.
obligations under this Lease; provided, however, that unless the default by Landlord renders the Leased Premises unusable for the purposes leased hereunder, Tenant may not seek to terminate this Lease. Notwithstanding anything to the contrary in this Lease, Landlord shall not have any personal liability for any of its obligations as landlord under this Lease except to the extent of its interest in the Project (a) In which interest includes, without limitation, the event that Lessor proceeds of insurance and condemnation). Tenant will not institute, seek or enforce any personal or deficiency judgment against Landlord or any of Landlord’s officers, directors, shareholders or partners or their property, except the Project, which shall be liable available to Lessee satisfy any such judgment. If Tenant receives a final, nonappealable judgment for any damages sustained by Lessee against Landlord as a result of Lessoran uncured default by Landlord under this Lease, which is not satisfied within thirty (30) days after it becomes final and nonappealable, then Tenant will have the right to deduct the unpaid amount of such judgment (plus interest) against the Base Rent and Tenant’s breach, it is expressly understood that any money judgment resulting from any default or other claim arising Share of Operating Costs to become due under this Lease shall be satisfied out of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locateduntil fully credited.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Sources: Garage Lease (Virgin Trains USA LLC)
Default by Landlord. Lessee’s Remedies.
(a) In The occurrence of any one or more of the following events (any such event being specified herein as a “failure” or “default”) shall constitute a “Landlord Event of Default” under this Lease: failure by Landlord to perform and observe, or a violation or breach of, any other provision in this Lease, with such default continuing for a period of sixty (60) days after written notice thereof by Tenant to Landlord or, if such default is of such a nature that Lessor it cannot reasonably be cured within such period of sixty (60) days, as applicable, such period shall be liable extended for such longer time as is reasonably necessary; provided, that Landlord has commenced to Lessee for any damages sustained by Lessee as a result cure such default within said period of Lessor’s breachsixty (60) days, it and is expressly understood actively, diligently and in good faith proceeding with continuity to remedy such default and provided that any money judgment resulting from any delay in curing such default or other claim arising under this Lease shall be satisfied out not result in a material adverse effect on the value of LessorTenant’s leasehold interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locatedLeased Property.
(b) Notwithstanding anything herein contained to If any Landlord Event of Default shall have occurred and shall remain uncured after the contraryapplicable cure period, Lessee hereby waivesTenant shall have the right at its option, then or at any time thereafter, to do either one of the extent waivable under following without demand upon or notice to Landlord:
(i) Tenant may give Landlord notice of Tenant’s intention to terminate this Lease on a date specified in such notice. At the option of Tenant, upon the date therein specified, unless the Landlord Event of Default for which the termination is effected has been cured by Landlord, the Term shall expire and terminate as if such date were the date hereinabove fixed for the expiration of the Term, but Landlord shall remain liable for all its obligations hereunder through the date of termination; or
(ii) Tenant, without waiving or releasing any lawobligation of Landlord hereunder, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy may (but shall be limited to under no obligation to) cure the monetary damages referred to in this Paragraph 30Landlord Event of Default for the account and at the expense of Landlord. Notwithstanding All sums so paid by Tenant and all costs and expenses (including reasonable attorneys’ fees) so incurred, together with interest thereon at the foregoingDefault Rate from the date on which such sums or expenses are paid or incurred by Tenant, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled paid by Landlord to specific performance, but Tenant on demand. The rights of Tenant hereunder to cure and to secure payment from Landlord in no event accordance with this Section shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithsurvive the termination of this Lease.
Appears in 1 contract
Sources: Ground Lease Agreement (Cornerstone Healthcare Plus Reit, Inc.)
Default by Landlord. Lessee’s Remedies.
(a) In It is agreed that in the event that Lessor shall be liable Landlord fails or refuses to Lessee for perform any damages sustained by Lessee as a result of Lessor’s breachthe provisions, it is expressly understood that any money judgment resulting from any default covenants or other claim arising under conditions of this Lease shall on Landlord's pari to be satisfied out of Lessor’s interest in the subject propertykept or performed, includingthat Tenant, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, prior to exercising any right or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained remedy Tenant may have against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or Landlord on account of such deficiencydefault, shall give a twenty (20) day written notice to Landlord of such default, specifying in said notice the default with which Landlord is charged. Lessee hereby waivesNotwithstanding any other provision hereof, to Tenant agrees that if the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance default complained of in the event notice provided for by this Section is of Lessor’s such a nature that the same can be rectified or cured by Landlord, but cannot with reasonable diligence be reclined or cured within said twenty (20) day period, then such default referred shall be deemed to hereinbe rectified or cured if Landlord within said twenty (20) day period shall commence the rectification and curing thereof and shall continue thereafter with all due diligence to cause such rectification and curing to proceed and so does complete the same, and Lessee expressly agrees that except with the use of diligence as provided in aforesaid. The liability of Landlord to Tenant for any default by Landlord under the immediately following sentence, Lessee’s remedy terms of this Lease shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding lesser of: (i) the foregoing, interest of Landlord in the event Demised Premises; or (ii) the interest Landlord would have in the Demised Premises if the Demised Premises were encumbered by third party debt in an amount equal to eighty percent (80%) of failure the value of the Demised Premises (as such value is determined by Lessor Landlord) and Tenant agrees to give look solely to such amount for recovery of any consent as provided in Paragraph 19 Lessee judgment from Landlord, it being intended that Landlord shall not be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages personally liable for failure to give such consent unless said consent is withheld maliciously any judgment or in bad faithdeficiency.
Appears in 1 contract
Sources: Lease Assignment and Amendment (Global Medical REIT Inc.)
Default by Landlord. Lessee’s Remedies.
(a) In the event that Lessor of any default by Landlord, Tenant's exclusive remedy shall be liable an action for actual direct damages (Tenant hereby waiving the benefit of any laws granting it a lien upon the property of Landlord and/or upon rent due Landlord), but prior to Lessee for any damages sustained by Lessee as a result of Lessor’s breachsuch action Tenant will give Landlord written notice specifying such default with particularity, it is expressly understood that and Landlord shall thereupon have thirty (30) days in which to cure any money judgment resulting from such default. Unless and until Landlord fails to so cure any default after such notice, Tenant shall not have any remedy or other claim arising under this Lease shall cause of action by reason thereof. All obligations of Landlord hereunder will be satisfied out construed as covenants, not conditions, and all such obligations will be binding upon Landlord only during the period of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation its possession of the subject property in which Premises and not thereafter. The term "Landlord" shall mean only the demised premises are locatedowner, and except for the subject property, no other real, personal, or mixed property time being of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, Premises and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided the transfer by such owner of its interest in the immediately following sentencePremises, Lessee’s remedy 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 limited to binding during the monetary damages referred to in this Paragraph 30lease term upon each new owner for the duration of such owner's ownership. Notwithstanding the foregoingany other provision hereof, in Landlord shall not have any personal liability hereunder. In the event of failure any breach ol default by Lessor Landlord in any term or provision of this Lease Tenant agrees to give any consent as provided look solely to the equity or interest then owned by Landlord in Paragraph 19 Lessee shall be entitled to specific performancethe Property, but however, in no event event, shall Lessor any deficiency judgment or any money judgment of any kind be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously sought or in bad faithobtained against any Landlord.
Appears in 1 contract
Sources: Lease Agreement (Litronic Inc)
Default by Landlord. Lessee’s Remedies.
Landlord shall not be in default unless Landlord fails to perform obligations required of Landlord within a reasonable time, but in no event later than thirty (a30) In the event that Lessor shall be liable days after written notice by Tenant to Lessee for any damages sustained by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting from any default or other claim arising under this Lease shall be satisfied out of Lessor’s interest in the subject property, including, all rents, profits, insurance Landlord and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under lawholder of any first mortgage or deed of trust covering the Premises whose name and address shall have theretofore been furnished to Tenant in writing, any rights specifying wherein Landlord has failed to satisfy said money judgment against Lessor except from perform such obligation; provided, however, that if the subject property nature of ▇▇▇▇▇▇▇▇’s obligation is such that more than thirty (30) days are required for performance, then Landlord shall not be in which default if Landlord commences performance within such thirty (30)-day period and thereafter diligently prosecutes the demised premises are located.
(b) Notwithstanding anything herein contained same to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30completion. Notwithstanding the foregoing, in the event Landlord’s breach creates an emergency situation, or is of failure such a nature that materially and adversely impairs Tenant’s ability to operate its business at the Premises (which shall include by Lessor to give any consent as provided way of illustration and not limitation, (a) preventing use of, or access to, the Common Area, parking facilities, Premises or the Building, (b) material interruption in Paragraph 19 Lessee utility services caused by Landlord, (c) material and adverse impairment of health and safety, and (d) quiet enjoyment), then Landlord shall be entitled required to remedy such breach as soon as commercially reasonable without delay. In the event of a default by Landlord beyond any applicable period of notice and cure specified herein, Tenant, at its option, without further notice or demand, shall have the right to any one or more of the following remedies in addition to all other rights and remedies provided at law or in equity or elsewhere herein: (i) to remedy such default or breach and deduct the reasonable costs thereof (including reasonable attorneys’ fees), as evidenced by invoices provided to Landlord, from the installments of Rent next coming due; (ii) to pursue the remedy of specific performance, but in no event shall Lessor be responsible in monetary ; and/or (iii) to seek money damages for loss arising from Landlord’s failure to give such consent unless said consent is withheld maliciously or in bad faithdischarge its obligations under this Lease.
Appears in 1 contract
Sources: Lease Agreement
Default by Landlord. Lessee’s Remedies.
(a) In It is agreed that in the event that Lessor shall be liable Landlord fails or refuses to Lessee for perform any damages sustained by Lessee as a result of Lessor’s breachthe provisions, it is expressly understood that any money judgment resulting from any default covenants or other claim arising under conditions of this Lease shall on Landlord's part to be satisfied out of Lessor’s interest in the subject propertykept or performed, includingthat Tenant, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, prior to exercising any right or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained remedy Tenant may have against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or Landlord on account of such deficiencydefault, shall give a twenty (20) day written notice to Landlord of such default, specifying in said notice the default with which Landlord is charged. Lessee hereby waivesNotwithstanding any other provision hereof, to Tenant agrees that if the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance default complained of in the event notice provided for by this Section is of Lessor’s such a nature that the same can be rectified or cured by Landlord, but cannot with reasonable diligence be rectified or cured within said twenty (20) day period, then such default referred shall be deemed to hereinbe rectified or cured if Landlord within said twenty (20) day period shall commence the rectification and curing thereof and shall continue thereafter with all due diligence to cause such rectification and curing to proceed and so does complete the same, and Lessee expressly agrees that except with the use of diligence as provided in aforesaid. The liability of Landlord to Tenant for any default by Landlord under the immediately following sentence, Lessee’s remedy terms of this Lease shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding lesser of: (i) the foregoing, interest of Landlord in the event Demised Premises; or (ii) the interest Landlord would have in the Demised Premises if the Demised Premises were encumbered by third party debt in an amount equal to eighty percent (80%) of failure the value of the Demised Premises (as such value is determined by Lessor Landlord) and Tenant agrees to give look solely to such amount for recovery of any consent as provided in Paragraph 19 Lessee judgment from Landlord, it being intended that Landlord shall not be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages personally liable for failure to give such consent unless said consent is withheld maliciously any judgment or in bad faithdeficiency.
Appears in 1 contract
Sources: Lease Assignment and Amendment (Global Medical REIT Inc.)
Default by Landlord. LesseeLandlord shall be deemed to be in default hereunder only if Landlord fails to perform or comply with any material obligation on its part hereunder and
(i) such failure shall continue for more than the time of any cure period provided herein, or,
(ii) if no cure period is provided herein, for more than sixty (60) days after written notice thereof from Tenant, or, (iii) if such default cannot reasonably be cured within such applicable cure period, subject to Force Majeure, Landlord shall not within such period commence the cure of such default, or, having so commenced, shall thereafter fail to diligently prosecute such cure. Upon the occurrence of default by Landlord as described above, which default substantially and materially interferes with Tenant’s Remedies.
use of the Premises, Tenant shall have the exclusive right (a) In to offset or deduct only from the event that Lessor shall be liable to Lessee for any Rent becoming due hereunder, the amount of actual damages sustained incurred by Lessee ▇▇▇▇▇▇ as a direct result of LessorLandlord’s breachdefault, it is expressly understood that any money but only after obtaining a judgment resulting from any default or other claim arising under this Lease shall be satisfied out in a court of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except competent jurisdiction for the subject property, no other real, personalsuch damages, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contraryseek equitable relief in accordance with applicable Laws; provided, Lessee hereby waiveshowever, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but (i) in no event shall Lessor Tenant be responsible entitled to offset from all or any portion of the Rent becoming due hereunder or to otherwise recover or obtain from Landlord or its Agents any damages (including, without limitation, any consequential, incidental, punitive or other damages proximately arising out of a default by Landlord hereunder) or Losses other than ▇▇▇▇▇▇’s actual damages as described in monetary damages the foregoing clause (a), and (ii) Tenant agrees that, notwithstanding anything to the contrary herein or pursuant to any applicable Laws, ▇▇▇▇▇▇’s remedies hereunder shall constitute ▇▇▇▇▇▇’s sole and absolute right and remedy for failure to give such consent unless said consent is withheld maliciously or in bad faitha default by Landlord hereunder.
Appears in 1 contract
Sources: Marina Lease
Default by Landlord. Lessee’s Remedies.
(a) In the event that Lessor The following shall be liable an event of default by Landlord (a “Landlord Default”):
(i) failure by Landlord to Lessee for pay any damages sustained sum required to be paid by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting from any default or other claim arising under Landlord pursuant to this Lease shall within five (5) days after Landlord 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 this Lease to be satisfied out of Lessor’s interest in the subject propertyperformed or complied with by Landlord within thirty (30) days after written notice thereof from Tenant and such additional time, includingif any, all rentsas is reasonably necessary to cure such failure, profits, insurance provided Landlord commences to cure such failure within such thirty (30) day period and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject thereafter prosecutes such cure to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locatedcompletion with reasonable diligence.
(b) Notwithstanding anything herein contained Upon the occurrence of a Landlord Default, Tenant may, at its election, perform the obligation which Landlord has failed to perform for the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event account of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30Landlord. Notwithstanding the foregoing, in case of an emergency where there is an immediate threat to the event Premises or Tenant’s property therein as a result of Landlord’s failure to perform any obligation under this Lease, 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 reasonable under the circumstances (which notice may, for this purpose, consist of telephonic notice).
(c) Landlord shall pay Tenant upon written demand all reasonable costs incurred by Tenant in performing Landlord’s obligations under the preceding paragraph. If Landlord fails to pay Tenant such amounts within five (5) days after demand therefor, Landlord agrees to also pay a late charge of Fifty Dollars ($50.00) per day and interest to Tenant at the Overdue Interest Rate beginning on the first day that such payment was demanded until the date that Tenant receives payment.
(d) The rights and remedies granted to Tenant 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 Lessor Landlord to give perform its obligations under this Lease.
(e) None of Landlord’s covenants, undertakings or agreements under this Lease is made or intended as personal covenants, undertakings or agreements by Landlord, or by any consent as provided in Paragraph 19 Lessee of Landlord’s shareholders, directors, officers, trustees or constituent partners. All liability for damage or breach or nonperformance by Landlord shall be entitled collectible only out of Landlord’s interest from time to specific performancetime in the Premises, but and no personal liability is assumed by nor at any time may be asserted against Landlord or any of Landlord’s shareholders, directors, officers, trustees or constituent partners.
(f) Upon the sale or other conveyance or transfer of Landlord’s interest in no event the Premises, the transferor shall Lessor be responsible in monetary damages for failure to give relieved of all covenants and obligations of Landlord arising under this Lease from and after the closing of such consent unless said consent is withheld maliciously sale, conveyance or in bad faithtransfer, provided the transferee assumes the obligations of Landlord under this Lease from and after the date of transfer.
Appears in 1 contract
Sources: Agreement of Sale (Nexmed Inc)
Default by Landlord. Lessee’s Remedies.
Landlord shall not be considered to be in Default in the performance of any obligation to be performed by Landlord under this Lease unless (a) Landlord fails to perform any of its obligations hereunder and said failure continues for a period of thirty (30) days after the date of delivery of written notice of such failure by Tenant to Landlord; provided, however, that if such failure cannot reasonably be cured within said thirty (30) day period (other than Landlord’s payment of any monetary obligation to Tenant), Landlord shall not be in Default hereunder unless ▇▇▇▇▇▇▇▇ fails to commence the cure of said failure as soon as reasonably practicable under the circumstances, or fails diligently to pursue the same to completion; and (b) each Holder of whose identity Tenant has been notified in writing shall have failed to cure such Default within thirty (30) days (or such longer period of time as may be specified in any written agreement between Tenant and such Holder regarding such matter) after receipt of written notice from Tenant of Landlord’s failure to cure within the time periods provided above (a “Landlord Default”). In the event that Lessor of a Landlord Default, Tenant shall be liable use reasonable efforts to Lessee for any mitigate its damages sustained by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting and losses arising from any default or other claim arising under this Lease shall be satisfied out of Lessor’s interest in the subject property, including, such Landlord Default and Tenant may pursue any and all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject remedies available to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in it at law or in equity; provided, against Lessor for or on account of such deficiency. Lessee hereby waiveshowever, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for Tenant claim a constructive or actual eviction or that the Premises have become unsuitable or untenantable prior to a Landlord Default and failure to give such consent unless said consent is withheld maliciously cure by Landlord and its Holder under this Lease and, further, in no event shall Tenant be entitled to terminate this Lease or in bad faithreceive more than its actual direct damages arising from any Landlord Default, it being agreed that for all purposes under this Lease, Tenant waives any claim it otherwise may have for special or consequential damages or any damages attributable to lost profits or revenue or loss of or interruption to Tenant’s business operations.
Appears in 1 contract
Default by Landlord. Lessee’s Remedies.
(a) In Landlord shall not be deemed to be in default in the event that Lessor shall performance of any obligation required to be liable to Lessee for any damages sustained performed by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting from any default or other claim arising under this Lease unless and until it has failed to commence such performance within thirty (30) days after written notice by Tenant to Landlord specifying such default; provided, however, if the nature of Landlord’s default is such that more than thirty (30) days are required for its performance, then Landlord shall not be satisfied out deemed to be in default unless it fails to commence such performance within said 30-day period and thereafter continuously and in good faith diligently prosecutes the same to completion as promptly as reasonably possible. Unless and until Landlord fails to so cure any default after such notice, Tenant shall not have any remedy against Landlord or cause of Lessor’s interest in action by reason thereof. However, Tenant shall not be precluded from taking immediate actions necessary to avoid or minimize the subject propertyrisk of injury to person, including, all rents, profits, insurance and other income from the operation of the subject or damage to property in which the demised premises are locatedexigent circumstances, but shall give Landlord notice thereof as promptly as possible, and except for shall cooperate with Landlord to the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject fullest extent reasonably practicable in allowing Landlord to levy on assess and address any such judgment obtained against Lessoremergency situation. This provision is not intended to relieve Landlord of any legal duty of mitigation arising upon the termination of Tenant’s right of possession under Section 7.1, and if Lessorhowever; nor shall it be construed to extend Landlord’s interest in the subject property is insufficient period for the payment of such judgment, Lessee will not institute complying with any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, deadline imposed with respect to the extent waivable occurrence of a Fire or other Casualty under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable Section 6.4 or an event of Condemnation under any law, any Section 6.5. Tenant has no right to specific performance in claim any nature of lien against the event of Lessor’s default referred Leased Premises or to hereinwithhold, and Lessee expressly agrees that except as deduct from or offset against any rent or other sums to be paid to Landlord, provided in the immediately following sentencethat, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding notwithstanding the foregoing, in the event of the failure by Lessor of Landlord to give cure (or commence to cure) any consent default in accordance with the provisions hereof, upon not less than ten (10) days prior written notice to Landlord, and if Tenant is not in default under the terms of this Lease, Tenant may elect to perform such obligation on behalf of Landlord. In the event of such election, Tenant shall, as provided in Paragraph 19 Lessee shall its sole and exclusive remedy, be entitled to specific performancea credit and offset against the Base Rent and the Additional Rent otherwise due (but not in excess of twenty-five percent [25%] of such amounts per month until full recoupment is achieved) for the actual, but out-of-pocket costs reasonably incurred by Tenant in no performing such obligation. Within twenty (20) days after completing such obligation, Tenant shall give written notice to Landlord of the amount of such costs, together with copies of paid receipts, invoices, statements or other evidence of the payment of such costs. It is acknowledged that the inclusion of this provision allowing Tenant a self-help remedy and right of off-set does not waive any right that Tenant may have if Tenant does not elect to exercise the foregoing self-help remedy, in which event shall Lessor Tenant reserves any other right or remedy to which Tenant may otherwise be responsible entitled in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faiththe event of an uncured default by Landlord.
Appears in 1 contract
Sources: Lease Agreement (Pharmaceutical Product Development Inc)
Default by Landlord. Lessee’s Remedies.
(a) In the event that Lessor of any default by Landlord, Tenant's exclusive remedy shall be liable an action 34 for actual direct damages (Tenant hereby waiving the benefit of any laws granting it a lien upon the property of Landlord and/or upon rent due Landlord), but prior to Lessee for any damages sustained by Lessee as a result of Lessor’s breachsuch action Tenant will give Landlord written notice specifying such default with particularity, it is expressly understood that and Landlord shall thereupon have thirty (30) days in which to cure any money judgment resulting from such default. Unless and until Landlord fails to so cure any default after such notice, Tenant shall not have any remedy or other claim arising under this Lease shall cause of action by reason thereof. All obligations of Landlord hereunder will be satisfied out construed as covenants, not conditions, and all such obligations will be binding upon Landlord only during the period of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation its possession of the subject property in which Premises and not thereafter. The term "Landlord" shall mean only the demised premises are locatedowner, for the time being of the Premises, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided the transfer by such owner of its interest in the immediately following sentencePremises, Lessee’s remedy 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 limited to binding during the monetary damages referred to in this Paragraph 30lease term upon each new owner for the duration of such owner's ownership. Notwithstanding the foregoingany other provision hereof, in Landlord shall not have any personal liability hereunder. In the event of failure any breach or default by Lessor Landlord in any term or provision of this Lease, Tenant agrees to give any consent as provided look solely to the equity or interest then owned by Landlord in Paragraph 19 Lessee shall be entitled to specific performancethe Property, but however, in no event event, shall Lessor any deficiency judgment or any money judgment of any kind be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously sought or in bad faithobtained against any Landlord.
Appears in 1 contract
Default by Landlord. Lessee’s Remedies.
Landlord shall not be in default under this Lease unless Landlord fails to perform obligations required of Landlord within thirty (a30) days after written notice by Tenant to Landlord and to the holder of any mortgage or deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant 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 are required for its cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently pursues the same to completion. In no event shall Tenant have the event that Lessor shall be liable right to Lessee for any damages sustained by Lessee terminate this Lease as a result of LessorLandlord’s breachdefault, it and Tenant’s remedies shall be limited to damages and/or an injunction. This Lease and the obligations of Tenant hereunder shall not be affected or impaired because Landlord is expressly understood 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 any money judgment resulting from any default arises out of this Lease or other claim arising under the negotiations which preceded this Lease shall be satisfied out barred unless Tenant commences an action thereon, or interposes a defense by reason thereof, within the earlier to occur of Lessor’s interest in (i) the subject property, including, all rents, profits, insurance and other income from the operation expiration of the subject property in which applicable statute of limitations with respect to the demised premises are locatedinaction, omission, event or action that gave rise to such claim, demand, right or defense, and except for (ii) eighteen (18) months after the subject property, no other real, personal, expiration or mixed property earlier termination of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are locatedthis Lease.
(b) Notwithstanding anything herein contained to the contrary, Lessee hereby waives, to the extent waivable under any law, any right to specific performance in the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faith.
Appears in 1 contract
Default by Landlord. Lessee’s Remedies.
The following shall be deemed to a "Landlord Default": (a) failure by Landlord to observe or perform any term or condition of this Lease to be observed or performed by Landlord; and (b) continuation of such failure for 30 days after written notice from Tenant; provided that it shall not be a "Landlord Default" if such failure cannot be cured by Landlord within 30 days, despite reasonably diligent effort, so long as Landlord diligently commences to cure such failure within 15 days, and continues to pursue such cure to completion. In the event that Lessor of a Landlord Default, Tenant shall be liable to Lessee for any damages sustained by Lessee as a result of Lessor’s breach, it is expressly understood that any money judgment resulting from any default have all rights or other claim arising under this Lease shall be satisfied out of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in remedies available at law or in equity. With 33 respect to Landlord Defaults, against Lessor Tenant shall have the right to perform such obligations on behalf of Landlord, without such performance being construed as a waiver of the Landlord Default or of any other right or remedy of Tenant with respect to such Landlord Default, or as a waiver of any term or condition of this Lease. Landlord shall pay to Tenant on demand all reasonable costs and expenses incurred by Tenant to perform any such obligations in accordance with the terms and conditions of this Section. If any amount due to Tenant by Landlord hereunder shall become overdue for or a period in excess of five days, then Landlord shall pay the Tenant interest on account of such deficiency. Lessee hereby waives, unpaid amount from the date due to the extent waivable date of payment at the rate of 1.5% per month. Notwithstanding anything to the contrary set forth herein, if: (a) Landlord fails to maintain the insurance required to be maintained by it under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
Subsection 16(a) hereof; (b) Notwithstanding anything herein contained Tenant performs such obligation in accordance with the terms and conditions of this Section; and (c) Landlord fails to pay to Tenant on demand all reasonable costs and expenses incurred by Tenant to perform such obligation (the contrary"Tenant Insurance Costs"); then Tenant may offset the Tenant Insurance Costs against payments of Rent. Upon any Landlord Default, Lessee hereby waivesLandlord shall indemnify and hold harmless Tenant from any and all claims, to the extent waivable under any lawjudgments, any right to specific performance in the event of Lessor’s default referred to hereinliabilities, losses, costs and Lessee expressly agrees that except as provided in the immediately following sentenceexpenses (including, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoingwithout limitation, in the event of failure reasonable attorneys' fees and court costs) incurred by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performanceTenant and arising from, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithconnection with, a Landlord Default or the exercise by Tenant of its rights and remedies with respect to such Landlord Default.
Appears in 1 contract
Sources: Lease (Brightpoint Inc)
Default by Landlord. Lessee’s Remedies.If Landlord fails to perform any of its obligations under this Lease and such failure is not a result of an act or omission of Tenant or the occurrence of one or more of the events stated in Section 9.01 (FORCE MAJEURE) below (a "Landlord Default"), Tenant shall give Landlord notice specifying the Landlord Default. A Landlord Default must be cured (i) within fifteen (15) days after receiving notice from Tenant; or (ii) if the Landlord Default can not be cured within fifteen (15) days, within a reasonable period of time thereafter in order to cure such Landlord Default as long as Landlord has commenced a cure with due diligence after receiving notice from Tenant (the "Cure Period"). If the Landlord Default is not corrected within the Cure Period, then in addition to all rights, powers or remedies permitted by law, Tenant may:
A. Upon the first occurrence of any Landlord Default, correct the Landlord Default and deduct the cost from the Base Rent and other sums payable; provided, that (a) In Tenant shall give Landlord at least 10 business days' prior written notice before commencing to correct the event that Lessor Landlord Default, which notice shall be liable describe in reasonable detail the work Tenant intends to Lessee for perform and shall include copies of all relevant plans, sworn statements, permits, certificates of insurance, names of contractor and any damages sustained other information reasonably required by Lessee as a result of Lessor’s breachLandlord, it is expressly understood that any money judgment resulting from any default or other claim arising under this Lease shall be satisfied out of Lessor’s interest in the subject property, including, all rents, profits, insurance and other income from the operation of the subject property in which the demised premises are located, and except for the subject property, no other real, personal, or mixed property of the Lessor wherever situated shall be subject to levy on any such judgment obtained against Lessor, and if Lessor’s interest in the subject property is insufficient for the payment of such judgment, Lessee will not institute any further action, suits, claim or demand, in law or in equity, against Lessor for or on account of such deficiency. Lessee hereby waives, to the extent waivable under law, any rights to satisfy said money judgment against Lessor except from the subject property in which the demised premises are located.
(b) Notwithstanding anything herein contained Tenant shall only use those contractors and subcontractors to perform such work which shall not create disharmony with existing trades in the contraryBuilding, Lessee hereby waives(c) Tenant is not in Default under this Lease, and (d) Tenant agrees to indemnify, defend and hold Landlord harmless from and against any and all claims, actions, damages, costs and expenses (including, without limitation, court costs and attorneys' fees for personal injury, property damage or loss of business, asserted against or sustained by Landlord and arising out of any work performed by or on behalf of Tenant hereunder, and provided such work is the proximate cause of any such claim, action, damage, costs, and/or expense;
B. Upon the second and any subsequent occurrence of any Landlord Default, withhold payment of the Base Rent and other sums payable, if any, due to Landlord until Landlord has corrected the specified Landlord Default; or
C. Upon the third occurrence of any Landlord Default or upon the failure of Landlord to cure any Landlord Default within ninety (90) days, Tenant shall have the right to seek the judicial remedy of specific performance or to terminate this Lease by providing Landlord with notice of such termination. Tenant agrees to simultaneously give Landlord's mortgagee or deed of trust holders (the "Holder") a copy of any notice of a Landlord Default which Tenant serves upon Landlord, to any address which Landlord has provided to Tenant. The Holder shall have the extent waivable under any law, any right to specific performance in cure a Landlord Default within the event of Lessor’s default referred to herein, and Lessee expressly agrees that except as provided in the immediately following sentence, Lessee’s remedy shall be limited to the monetary damages referred to in this Paragraph 30. Notwithstanding the foregoing, in the event of failure by Lessor to give any consent as provided in Paragraph 19 Lessee shall be entitled to specific performance, but in no event shall Lessor be responsible in monetary damages for failure to give such consent unless said consent is withheld maliciously or in bad faithCure Period.
Appears in 1 contract