Common use of Rights of Lessor Upon Default Clause in Contracts

Rights of Lessor Upon Default. (a) Upon the occurrence of any Default hereunder and after the expiration of all required notice and cure periods, Lessor may: (1) Give Lessee/Developer written notice of its intention to terminate this Ground Lease in accordance with the provisions of this Lease. On the date that Lessee/Developer's right to possession of the Premises ceases the Ground Lease will be terminated, except as to the Lessee/Developer's liability as set forth herein. If this Ground Lease is terminated due to Default, Lessee/Developer will remain liable to Lessor for damages. (2) Exercise any remedies available at law or in equity for a default by the Lessee/Developer occurring at any time under this Ground Lease and shall be entitled to recover attorneys' fees and costs incurred to enforce this Ground Lease. (b) Immediately upon termination of this Ground Lease for default by the Lessee/Developer under the provisions of this Lease, ownership of and title to all buildings, structures, and other improvements, and all machinery and equipment, as provided in Article VI herein, shall vest in Lessor.