Common use of Repeated Default Clause in Contracts

Repeated Default. (i) Notwithstanding anything to the contrary set forth in this Lease, if Tenant shall be in default in the timely payment of any Rents due Landlord from Tenant, or the payment of any other charges due Landlord from Tenant under the terms of this Lease, and any such default shall be repeated two (2) times in any period of twelve (12) consecutive months, then, notwithstanding that such default shall have been cured within the period after notice as provided in this Lease, any further similar default within said twelve (12) month period shall be deemed to be a “Repeated Default”. (ii) In the event of a Repeated Default, Landlord may, in addition to any other rights and remedies provided Landlord in this Lease or at law or in equity, and without notice to Tenant and without affording Tenant an opportunity to cure such Repeated Default, terminate this Lease forthwith.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement