Common use of No Tenant Default Clause in Contracts

No Tenant Default. (a) Tenant shall have no right to exercise any Expansion Option at the following times or during the following periods (and the period within which Tenant is allowed to exercise such Options shall not be tolled or extended during such periods or on account thereof): (i) during the time commencing from the date Landlord gives to Tenant a notice of Default under the Lease and continuing until the Default alleged in said notice is fully cured; (ii) during the period of time commencing on the first day following the day any payment or sum of money first becomes due or payable to Landlord from Tenant and is unpaid (and regardless of whether Landlord gave any notice thereof to Tenant or whether any such notice is required before such nonpayment can ripen into an Event of Default) and continuing until the entire amount (together with any late charge or other amount payable thereon or in connection therewith) is paid in full; (iii) at any time after an Event of Default first occurs and at any time when an Event of Default exists (and regardless of whether Landlord gave any notice thereof to Tenant) until fully and properly cured; and (iv) at any time within the 24-month period following the occurrence of the later of two or more Events of Default which occurred within any consecutive 12-month period (even if all of such Events of Default have been cured). (b) All rights of Tenant under this SECTION 45 shall terminate at Landlord's election (in Landlord's sole, exclusive and unreviewable discretion) expressed in a notice of such termination given by Landlord to Tenant, and be of no further force and effect, notwithstanding Tenant's due and timely exercise thereof, if, after Tenant's delivery of any Expansion Notice and prior to the commencement date of the Term as applicable to the relevant Addition as set out in the Expansion Amendment relating thereto, either (i) an Event of Default shall have occurred and shall then remain uncured, or (ii) Landlord shall have given to Tenant two or more notices of material Defaults under the Lease within the immediately preceding 12- month period. In the event any of the foregoing conditions is not satisfied or any of the foregoing disqualifications or termination events occurs, then (i) the applicable exercise of the Expansion Option and any related Expansion Amendment or other amendment to this Lease shall be deemed to have been rescinded and withdrawn and shall be void and of no effect, as though the Expansion Option had never been exercised, and (ii) Tenant shall pay to Landlord on demand an amount in cash sufficient fully to compensate and reimburse Landlord for all costs, losses and expenses of any and every kind whatsoever which were paid or incurred by Landlord prior to such termination in connection with or as a result or consequence of Tenant's exercise of such Option, which costs shall include but not be limited to the items (if paid or incurred by Landlord) which are described in the definition of Total Construction Cost and also those items which Tenant would have been obligated to pay Landlord if Tenant had withdrawn or revoked its Exercise Option pursuant to SECTION 45.4.

No Tenant Default. (a) Tenant shall have no right to exercise any Expansion Option at the following times or during the following periods (and the period within which Tenant is allowed to exercise such Options shall not be tolled or extended during such periods or on account thereof): (i) during the time commencing from the date Landlord gives to Tenant a notice of Default under the Lease and continuing until the Default alleged in said notice is fully cured; (ii) during the period of time commencing on the first day following the day any payment or sum of money first becomes due or payable to Landlord from Tenant and is unpaid (and regardless of whether Landlord gave any notice thereof to Tenant or whether any such notice is required before such nonpayment can ripen into an Event of Default) and continuing until the entire amount (together with any late charge or other amount payable thereon or in connection therewith) is paid in full; (iii) at any time after an Event of Default first occurs and at any time when an Event of Default exists (and regardless of whether Landlord gave any notice thereof to Tenant) until fully and properly cured; and (iv) at any time within the 24-month period following the occurrence of the later of two or more Events of Default which occurred within any consecutive 12-month period (even if all of such Events of Default have been cured). (b) All rights of Tenant under this SECTION 45 Lease shall terminate at Landlord's election (in Landlord's sole, exclusive and unreviewable discretion) expressed in a notice of such termination given by Landlord to Tenant, and be of no further force and effect, notwithstanding Tenant's due and timely exercise thereof, if, after Tenant's delivery of any Expansion Notice and prior to the commencement date of the Term as applicable to the relevant Addition as set out in the Expansion Amendment relating theretoCommencement Date, either (i) an Event of Default under this Lease or under the Original Lease shall have occurred and shall then remain uncured, or (ii) Landlord shall have given to Tenant two or more notices of material Defaults under the Original Lease within the immediately preceding 12- 12-month period. In the event any of the foregoing conditions is not satisfied or any of the foregoing disqualifications or termination events occurs, then then, on notice from Landlord to Tenant, (i) this Lease shall be terminated and Tenant's exercise (under the applicable exercise Original Lease) of the Expansion Option and any related Expansion Amendment or other amendment to this Lease relating hereto shall be deemed to have been rescinded and withdrawn and shall be void and of no effect, as though the Expansion Option had never been exercised, and (ii) Tenant shall pay to Landlord on demand an amount in cash sufficient fully to compensate and reimburse Landlord for all costs, losses and expenses of any and every kind whatsoever which were paid or incurred by Landlord prior to such termination in connection with or as a result or consequence of Tenant's exercise of such Option, which costs shall include but not be limited to the items (if paid or incurred by Landlord) which are described in the definition of Total Construction Cost and also those items which Tenant would have been obligated to pay Landlord if Tenant had withdrawn or revoked its Exercise Option pursuant to SECTION 45.445.4 of the Original Lease.