Common use of Failure to Pay Sums Due Clause in Contracts

Failure to Pay Sums Due. If Subtenant fails to make timely payment of rent or of any other sum required to be paid by Subtenant under this Sublease, then Sublessor shall, before exercising any right or remedy provided by section 8.4 below or by law, give Subtenant written notice of such failure. For the fifteen (15) days following the giving of such notice, Subtenant shall have the right to cure the failure. If at the expiration of said fifteen (15) day period cure has not occurred, then Sublessor may exercise any right or remedy available to it.