Termination by Tenant. As long as any Superior Lease or Mortgage shall exist, Tenant shall not seek to terminate this Lease by reason of any act or omission of Landlord (i) until Tenant shall have given notice of such act or omission to all Lessors and/or Mortgagees (of which Tenant has received notice) and shall state in such notice in BOLDFACE TYPE that within 45 days of receipt thereof, such Lessor or Mortgagee must provide Tenant a notice of its intention to seek to cure such default to preserve such Lessor’s or such Mortgagee’s rights under this Section 11.2, and (ii) provided such Lessor and/or Mortgagee shall, within 45 days of receipt of Tenant’s notice, notify Tenant of its intention to seek to cure such default, until a reasonable period of time shall have elapsed following the giving of notice of such default and the expiration of any applicable notice or grace periods (unless such act or omission is not capable of being remedied within a reasonable period of time) during which period such Lessors and/or Mortgagees shall have the right, but not the obligation, to remedy such act or omission. If any Lessor or Mortgagee elects to remedy such act or omission of Landlord, Tenant shall not seek to terminate this Lease so long as such Lessor or Mortgagee is proceeding with reasonable diligence to effect such remedy.
Appears in 6 contracts
Sources: Lease (MSGE Spinco, Inc.), Lease Agreement (MSG Entertainment Spinco, Inc.), Lease Agreement (MSG Entertainment Spinco, Inc.)