Common use of Notice of Default and Termination Clause in Contracts

Notice of Default and Termination. If and whenever the Subtenant defaults in the observance or performance of any obligation in favour of the Sublandlord or the Lessor under this Sublease on the Subtenant’s part to be observed or performed, the Sublandlord may give the Subtenant written notice of the default, specifying the particulars of the default. If the Sublandlord gives the Subtenant a notice of default pursuant to this section and: (a) the default is in respect of a monetary payment or is reasonably capable of being cured within 45 days (or such longer period as is permitted under any Laws) after the notice is given and the Subtenant fails to cure or to cause the Subtenant to cure the default within 45 days (or such longer period as is permitted under any Laws) after the notice is given; or (b) the default is in respect of a non-monetary matter and is capable of being cured but is not reasonably capable of being cured within 45 days after the notice is given and the Subtenant fails to commence to cure the default promptly upon receipt of the notice and to proceed to cure it with all due diligence to completion; then, subject to section 26.4, the Sublandlord may by notice to the Subtenant declare the Term ended. If the Sublandlord declares the Term ended then, except as otherwise expressly provided in this Sublease, this Sublease and everything contained in it, the Subtenant’s estate under this Sublease and the Term will thereupon terminate without re- entry or any other act or legal proceedings in respect thereof, and the Sublandlord may re-enter and possess the Subleased Premises and the Sublandlord may enjoy the Subleased Premises and its former estate therein as if this Sublease had not been made with respect thereto.

Notice of Default and Termination. If and whenever the Subtenant defaults in the observance or performance of any obligation in favour of the Sublandlord or the Lessor under this Sublease on the Subtenant’s part to be observed or performed, the Sublandlord may give the Subtenant written notice of the default, specifying the particulars of the default. If the Sublandlord gives the Subtenant a notice of default pursuant to this section and: (a) the default is in respect of a monetary payment or is reasonably capable of being cured within 45 days (or such longer period as is permitted under any Laws) after the notice is given and the Subtenant fails to cure or to cause the Subtenant to cure the default within 45 60 days (or such longer period as is permitted under any Laws) after the notice is given; or (b) the default is in respect of a non-monetary matter and is capable of being cured but is not reasonably capable of being cured within 45 days after the notice is given and the Subtenant fails to commence to cure the default promptly upon receipt of the notice and to proceed to cure it with all due diligence to completion; then, subject to section 26.4, the Sublandlord may by notice to the Subtenant declare the Term ended. If the Sublandlord declares the Term ended then, except as otherwise expressly provided in this Sublease, this Sublease and everything contained in it, the Subtenant’s estate under this Sublease and the Term will thereupon terminate without re- re-entry or any other act or legal proceedings in respect thereof, and the Sublandlord may re-enter and possess the Subleased Premises and the Sublandlord may enjoy the Subleased Premises and its former estate therein as if this Sublease had not been made with respect thereto.

Notice of Default and Termination. If and whenever the Subtenant Homeowner defaults in the observance or performance of any obligation in favour of the Sublandlord Lessor, Her Majesty or the Lessor Homeowners' Association under this Sublease Agreement on the Subtenant’s Homeowner's part to be observed or performed, the Sublandlord Lessor may give the Subtenant Homeowner written notice of the default, specifying the particulars of the default. If the Sublandlord Lessor gives the Subtenant Homeowner a notice of default pursuant to this section and: (a) the default is in respect of a monetary payment or is reasonably capable of being cured within 45 sixty (60) days (or such longer period as is permitted under any LawsLaw) after the notice is given and the Subtenant Homeowner fails to cure or to cause the Subtenant default to cure the default be cured within 45 sixty (60) days (or such longer period as is permitted under any LawsLaw) after the notice is given; or (b) the default is in respect of a non-monetary matter and is capable of being cured but is not reasonably capable of being cured within 45 sixty (60) days after the notice is given and the Subtenant Homeowner fails to commence to cure the default promptly upon receipt of the notice and to proceed to cure it with all due diligence to completion; then, subject to section 26.425.4, the Sublandlord Lessor may by notice to the Subtenant Homeowner declare the Term ended. If the Sublandlord Lessor declares the Term ended then, except as otherwise expressly provided in this SubleaseAgreement, this Sublease Agreement and everything contained in it, the Subtenant’s Homeowner's estate under this Sublease Agreement and the Term will thereupon terminate without re- re-entry or any other act or legal proceedings in respect thereof, and the Sublandlord Lessor may re-enter and possess the Subleased Premises Lot and all parts thereof and the Sublandlord Lessor may enjoy the Subleased Premises Lot and its former estate therein as if this Sublease Agreement had not been made with respect thereto, and pursuant to section 20.2, all of the Homeowner's rights, title and interests in and to the Structures will be sold, assigned and transferred to the Lessor absolutely, free and clear of all encumbrances. Notwithstanding the foregoing, the Lessor shall have no right to declare the Term ended by reason of a default of the Homeowner to comply with the Property Rules, as the same are amended from time to time, or such other rules and regulations of the Lessor or the Homeowners' Association unless such default is in respect of the payment of Maintenance Fees or constitutes a default of the Lessor under the Lease.