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9036-18 - Lease with Cleveland Clinic at 1450 Belle, Suite 200
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9036-18 - Lease with Cleveland Clinic at 1450 Belle, Suite 200
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12.2 Excess Rent: If Landlord does consent to the assignment of this Lease or the <br />subletting of all or substantially all the Premises, and if the total rent amount to be <br />paid by the sublessee or assignee is in excess of the Rent hereunder, Tenant shall <br />remit such excess to Landlord immediately upon receipt. <br />12.3 Tenant's Liability: If at any time during the Term, Tenant sublets all or any part of <br />the Premises or assigns this Lease, whether with or without the consent of <br />Landlord, Tenant shall nevertheless remain liable under all the terms, covenants, <br />and conditions of this Lease. If this Lease is assigned or if the Premises or any part <br />thereof is subleased or occupied by anybody other than Tenant, Landlord may <br />collect from the assignee, sublessee, or occupant any Rent payable by Tenant <br />under this Lease and apply the amount collected to the Rent; however, such <br />collection by Landlord shall not be deemed an acceptance of the assignee, <br />sublessee, or occupant as a tenant nor a release of Tenant under this Lease. <br />13. DEFAULT <br />13.1 Tenant's Default — Definition: The occurrence of any of the following shall <br />constitute a default by Tenant: <br />(a) Failure to pay any Rent when due, if the failure continues for five (5) days <br />after written notice thereof is given by Landlord to Tenant; <br />(b) The filing by or against Tenant of a petition for adjudication as a bankrupt, <br />for reorganization under Chapter X, for an arrangement under Chapter XI, or <br />for any other debtor or capital structure relief under the Bankruptcy Act of <br />2005, as now or hereafter amended or supplemented, if such petition is not <br />dismissed within sixty (60) days after filing; <br />(c) The making of an assignment for the benefit of creditors, or the appointment <br />of a receiver of substantially all the property of Tenant, in any action, suit or <br />proceeding by or against Tenant, or the offering for sale of Tenant's interest <br />in the Premises under execution or other legal process, if such assignment, <br />appointment or offering is not dismissed or terminated within sixty (60) days <br />after filing; or <br />(d) Failure to perform any other provision of this Lease, if the failure to perform <br />is not cured within thirty (30) days after written notice thereof is given by <br />Landlord to Tenant; if the default is non - monetary in nature and cannot <br />reasonably be cured within thirty (30) days, Tenant shall not be in default if <br />Tenant commences to cure such non - monetary default within the thirty (30) <br />day period and diligently continues to cure such default and completes such <br />cure within a reasonable amount of time, not to exceed sixty (60) additional <br />days. <br />13.2 Tenant's Default — Remedies: In the event of an uncured default by Tenant, <br />Landlord shall be entitled to any and all remedies under applicable law. In addition <br />to any such remedies, Landlord may, by three (3) days' written notice to Tenant, <br />terminate this Lease, or without terminating this Lease re -enter the Premises <br />Contract ID 4164827 <br />Approved as to Form JLS 9/26/2018 <br />
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