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Covenant Default
Covenant Default contract clause examples

Default. The occurrence of any of the following events (each, an “Event of Default”) shall constitute a material default and breach of this Sub-Sublease by Sub-Subtenant: # Sub-Subtenant’s failure to pay Rent, where such failure shall continue for a period of three (3) days following Sub-Subtenant’s receipt of written notice thereof from Sub-Sublandlord; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure, [Section 1161], # the occurrence of a material default or breach of a Superior Lease due to Sub-Subtenant’s acts or omissions, or # the occurrence of any of the events described in Section 8 of the Master Sublease. Upon any Event of Default under this Sub-Sublease, Sub-Sublandlord shall have all of the remedies available to Sublandlord pursuant to the Master Sublease, including without limitation the remedies enumerated in Section 9 of the Master Sublease. All of Sub-Sublandlord’s rights and remedies herein enumerated or incorporated by reference above are cumulative, and none will exclude any other right or remedy allowed by law or in equity.

Default and Remedies. Subtenant shall be in material default of its obligations under this Sublease if Subtenant commits any act or omission which constitutes an event of default under the Master Lease, which has not been cured after delivery of written notice and passage of any applicable grace period provided in the Master Lease as modified, if at all, by the provisions of this Sublease. In the event of any default by Subtenant, Sublandlord shall have all remedies provided pursuant to [Section 19.2] of the Master Lease, as incorporated herein, and by applicable law, including damages that include the worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that the lessee proves could be reasonably avoided and the remedy described in California Civil Code Section 1951.4 (lessor may continue lease in effect after lessee’s breach and abandonment and recover rent as it becomes due, if lessee has right to sublet or assign, subject only to reasonable limitations.)

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