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Covenant Default
Covenant Default contract clause examples

DEFAULT. In the event of any failure of Subtenant to pay the rent or additional rent due hereunder, for more than five (5) days after written notice from Sublandlord that the same is due (provided that if Sublandlord has provided Subtenant with 2 notices in any 12 month period of such default, then Sublandlord shall not be required to provide any further written notices if Subtenant’s subsequently fails to pay rent or additional rent when due), or if Subtenant abandons or vacates all of any portion of the Premises for any reason other than the occurrence of an alteration or a casualty or condemnation, unless Subtenant can and does pay all reasonable costs that Sublandlord may suffer or incur by reason of the abandonment or vacancy of the Premises, or any failure to commence and diligently pursue the performance of any of the other terms, covenants, and conditions of this Sublease to be observed and performed by Subtenant for more than thirty (30) days after written notice of such default (provided that if cure reasonably takes more than thirty (30) days, Subtenant shall have such additional time as is reasonably needed, as long as Subtenant commences the cure promptly after written notice of the default from Sublandlord and thereafter diligently pursues the cure to completion), or if the Subtenant's interest herein shall be sold under execution, then Sublandlord, at its option, may terminate this Sublease without further notice to Subtenant and upon such termination Subtenant shall quit and surrender the Premises to Sublandlord, but such termination shall not affect the Sublandlord's right, subject to the terms and conditions of this Sublease, to recover damages or exercise any other right hereinafter provided; however, in lieu of terminating this Sublease, Sublandlord may elect to recover possession of the Premises without terminating this Sublease and Sublandlord shall have the right to re-enter the Premises and to remove all persons or property therefrom and store any property in a public warehouse or elsewhere at the cost and for the account of Subtenant, all without service of notice, except as notice is in this Paragraph 23 required, or resort to legal process, and Sublandlord shall not be liable for any loss or damage resulting from such re-entry nor shall Sublandlord be deemed guilty of trespass therefor. In the event of termination of this Sublease or a re-entry of the Premises pursuant to this Paragraph 23, Sublandlord may re-let the whole or any part of the Premises on behalf of Subtenant for a period equal to, greater or less than the remainder of the then term of this Sublease, at such rental and upon such terms and conditions as Sublandlord shall deem reasonable. Sublandlord shall not be liable in any respect for the failure to relet the Premises or in the event of such reletting, for failure to collect the rent thereunder and any sums received by Sublandlord on a reletting shall belong to Sublandlord. In the event of a termination of this Sublease, Sublandlord shall forthwith be entitled to recover from Subtenant, as liquidated damages, the amount by which the sum of # rent and additional rent payable for the remainder of the term of this Sublease; and # all reasonable out-of-pocket expenses of Sublandlord actually incurred in recovering possession of the Premises and reletting the same including costs of repair and renovating the Premises, management agents' commissions and fees, Court costs and reasonable attorneys' fees, exceed the fair rental value of the Premises. Subtenant hereby expressly waives its right to any notice to quit under the statutes relating to summary process or any statutes which may be enacted for recovery of possession of Premises. If Subtenant vacates or abandons the Premises prior to the expiration of the term of this Sublease, the same shall not be a default by Subtenant as long as Subtenant complies with all of the terms of this Sublease, but in that event, Sublandlord may re-take possession of the Premises from Subtenant without affecting Subtenant’s obligations under this Sublease, in which event Subtenant shall have no further right to possess the Premises.

DEFAULT. If Sublandlord shall receive a notice from Prime Landlord, which default arises out of or is in connection with Subtenant’s actions or failure to act under this Sublease, then Sublandlord, after ten (10) days’ written notice to Subtenant and without waiving or releasing Subtenant from any obligation contained in this Sublease, may, but shall be under no obligation to, make any such payment or perform any such act on Subtenant’s part to be made or performed as provided in this Sublease in order to cure the default under the Prime Lease, and may enter upon the Subleased Premises for such purpose and take all such other actions as may be necessary therefor. All sums paid by Sublandlord and all costs and expenses incurred by Sublandlord in connection with the performance of any such act, together with interest thereon at the Interest Rate, from the respective dates of Sublandlord’s making of each such payment or incurring of each such cost and expense, shall constitute Additional Rent payable by Subtenant, without set-off or deduction, and shall be paid by Subtenant to Sublandlord within fifteen (15) days after demand therefor.

Sublessee Default: If Sublessee shall fail to # pay any installment of Rent required by this Sublease when due or any other payment or reimbursement to Sublessor required by this Sublease when due, and such failure shall continue for a period of five (5) days from the date such payment is due or # correct any default in the performance by Sublessee of any other provision of this Sublease (other than a failure to pay Rent or other payments when due) and, if such failure or neglect shall continue for thirty (30) days after written notice thereof from Sublessor to Sublessee, then Sublessor may, without further notice or demand: # terminate this Sublease and require Sublessee to vacate and surrender the Premises, expelling Sublessee from the Premises without prejudice to any other remedies available to Sublessor under the circumstances, or # enter upon and take possession of the Premises and expel or remove Sublessee and any other person who may be occupying such Premises or any part thereof, by any lawful means, without terminating this Sublease and without being liable for prosecution or any claim for damages thereof, and re-let the Premises and receive the rent therefore; provided however, that if the nature of a breach under this [Section 6.01(b)] is such that it cannot be cured within thirty (30) days of Sublessor’s written notice to Sublessee, this Sublease will not terminate thirty (30) days after the giving of notice, if in the reasonable opinion of the Sublessor, the Sublessee is taking or has taken reasonable steps, within such thirty (30) day period, to cure the breach and such steps are being diligently pursued.

If Tenant defaults in the payment of Fixed Basic Rent or any Additional Rent or in the performance of any of the other covenants and conditions of this Lease or permits the Premises to become deserted, abandoned or vacated, Landlord may give Tenant notice of such default, and if Tenant does not cure any Fixed Basic Rent or Additional Rent default within five (5) days or other default within thirty (30) days after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant does not commence such curing within such thirty (30) days and thereafter proceed with reasonable diligence and in good faith to cure such default), then Landlord may terminate this Lease or Tenant’s right to possession upon not less than ten (10) days’ notice to Tenant, and on the date specified in such notice Tenant's right to possession of the Premises will cease, but Tenant will remain liable as provided below in this Lease. If this Lease or Tenant’s right to possession will have been so terminated by Landlord, Landlord may at any time thereafter recover possession of the Premises by any lawful means and remove Tenant or other occupants and their effects. Landlord may, at Tenant’s expense, relet all or any part of the Premises and may make such alterations, decorations or other changes to the Premises as Landlord considers appropriate in connection with such reletting, without relieving Tenant of any liability under this Lease. Tenant shall pay to Landlord, on demand, such expenses as Landlord may incur, including, without limitation, court costs and reasonable attorney's fees and disbursements, in enforcing the performance of any obligation of Tenant under this Lease.

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