Default Landlords Rights and Remedies Sample Clauses
The "Default; Landlord’s Rights and Remedies" clause defines what constitutes a tenant's default under the lease and outlines the actions the landlord may take in response. Typically, this clause specifies events such as non-payment of rent, unauthorized use of the premises, or failure to comply with lease terms as defaults. Upon default, the landlord may have rights to terminate the lease, recover possession of the property, or seek damages. The core function of this clause is to protect the landlord by providing clear procedures and remedies in the event the tenant fails to meet their obligations, thereby ensuring the landlord can address breaches efficiently.
Default Landlords Rights and Remedies. (a) The occurrence of any one or more of the following matters constitutes a Default by Tenant under this Lease:
(i) Failure by Tenant to pay Rent or any installment thereof when due within five (5) days of receipt of written or telephone notice of Landlord's failure to receive such sums, so long as any late charge of penalty shall accrue as of the due date;
(ii) Failure by Tenant to pay when due within five (5) days of receipt of written or telephone notice of Landlord's failure to receive such sums, so long as any late charge or penalty shall accrue as of the due date and any other moneys required to be paid by Tenant under this Lease;
(iii) Failure by Tenant to observe or perform any of the covenants in respect of assignment and subletting set forth in Section 13;
(iv) Failure by Tenant to cure forthwith, immediately after receipt of notice from Landlord, any hazardous condition which Tenant has created in violation of law or of this Lease;
(v) Failure by Tenant to observe or perform any other covenant, agreement, condition or provision of this Lease, if such failure shall continue for thirty (30) days after notice thereof from Landlord to Tenant, provided, however, that Tenant shall not be in default with respect to matters which cannot reasonably be cured within thirty (30) days so long as within such thirty (30) day period Tenant commences such cure and diligently proceeds to complete the same at all times thereafter;
(vi) The levy upon or under execution or the attachment by legal process of the leasehold interest of Tenant, or the filing or creation of a lien in respect of such leasehold interest, which lien shall not be released or discharged within thirty (30) days from the date of such filing;
(vii) Tenant vacates or abandons the Premises or fails to take possession of the Premises when available for occupancy (the transfer of a substantial part of the operations, business and personnel of Tenant to some other location being deemed, without limiting the meaning of the term "vacates or abandons", to be a vacation or abandonment within the meaning of this clause (vii)), and Tenant thereafter does not pay Rent due under this Lease;
(viii) Tenant becomes insolvent or bankrupt or admits in writing its inability to pay its debts as they mature, or makes an assignment for the benefit of creditors, or applies for or consents to the appointment of a trustee or receiver for Tenant or for the major part of his property;
(ix) A trustee or receiver is appoin...
Default Landlords Rights and Remedies