Common use of Defaults by Lessor Clause in Contracts

Defaults by Lessor. In the event LESSOR breaches any of the terms or provisions of this Lease and LESSOR has not cured such breach within thirty (30) days after LESSOR'S receipt of written notice thereof, or made arrangements to cure any breach which could not reasonably be cured within said period, LESSEE shall have the right to cure such default on behalf of LESSOR and to recover the reasonable cost thereof from LESSOR or offset such cost against future rents payable hereunder.

Appears in 2 contracts

Sources: Lease (Morgan Products LTD), Lease (Morgan Products LTD)