A Leasehold Mortgagee shall be entitled to exercise all the rights of Tenant under this Lease. After receipt or rejection of such notice, any Leasehold Mortgagee shall have the same period as Tenant after receipt of such notice by Tenant to cure such default and Landlord shall accept such performance by or on behalf of any Leasehold Mortgagee as if done by Tenant.

Landlord shall provide to any Leasehold Mortgagee at the Leasehold Mortgagee Address a copy of any notice of default or notice of termination given by Landlord to Tenant under this Lease and no such notice shall be effective until a copy has been provided to each Leasehold Mortgagee. If Leasehold Mortgagee has failed to cure Tenant’s default within the above-mentioned time period, Lessor may exercise its rights and remedies specified in Section 16.2, Section 16.3 and Section 17.1.ĭefault Notice. Tenant authorizes each Leasehold Mortgagee to take any such action at the Leasehold Mortgagee’s option and does hereby authorize entry upon the Leased Properties by the Leasehold Mortgagee for such purpose. Lessor shall accept such performance by or at the instigation of the Leasehold Mortgagee as if the same had been done by Tenant. From and after the time such notice has been given to a Leasehold Mortgagee, the Leasehold Mortgagee shall have the same period, after the giving of such notice upon it, for remedying any default or acts or omissions which are the subject matter of such notice or causing the same to be remedied, as is given Tenant after the giving of such notice to Tenant, plus (i) except if subsection (ii) below is applicable, thirty (30) days to remedy, commence to remedy or cause to be remedied the defaults or acts or omissions which are the subject matter of such notice specified in any such notice, provided that such defaults are capable of being cured by the Leasehold Mortgagee or on behalf of the Leasehold Mortgagee, or (ii) fifteen (15) days to remedy any Rent defaults which are the subject matter of such notice specified in any such notice. Lessor, upon providing Tenant any notice of: (a) default under this Lease or (b) a termination of this Lease, in whole or in part, shall at the same time provide a copy of such notice to the Leasehold Mortgagee.

Loan default notice sample