Health Net 2009 Annual Report Download - page 343

18.2 Holdover. Tenant shall have the right to hold over beyond the expiration of the Term for up to three months, as
designated in a notice given to Landlord at least 120 days before the Expiration Date; provided, however, if after the 120-day deadline
passes an event outside of Tenant’s reasonable control occurs that results in the space to which Tenant is relocating not being ready
on the Expiration Date, then Tenant may nevertheless hold over, not in excess of three months, as reasonably necessary as a result of
delay in completion of the relocation space on the condition that Tenant immediately gives Landlord notice of the happening of such
an event and thereafter keeps Landlord informed, not less often than weekly, of the progress of the work and the expected relocation
date. If Landlord and Tenant agree to any further holdover, the holdover shall be on a month to-month basis. If Tenant holds over
without Landlord’s consent, Tenant shall, at Landlord’s election, be a tenant at will or a tenant from month-to-month. In either case
rent shall be payable monthly in advance at a rate equal to 125% of the rate in effect immediately before the holdover began for the
first three months of the holdover and thereafter at 150% of such rate. A holdover month-to-month tenancy may be terminated by
either party at any time upon at least thirty days’ prior written notice. A holdover tenancy at will is terminable at any time by either
party without notice, regardless of whether rent has been paid in advance. Upon a termination under this Section, unearned rent shall
be refunded following the surrender of possession provided Tenant is not otherwise in breach of this Lease.
19. BREACH, DEFAULT, AND REMEDIES
19.1 Default. The following shall constitute “Events of Default”:
(a) Tenant fails to pay rent or any other amount due under this Lease within five business days after notice of
nonpayment; or
(b) Tenant fails to execute, acknowledge and return a subordination agreement under Article 15 or an estoppel
certificate or financial statements under Article 16, within ten days after a second notice from Landlord requesting such documents; or
(c) Tenant breaches any other obligation under this Lease or breaches any provision of the Salt River Ground Lease
or the BNY Leases and fails to cure the breach within fifteen days after notice of nonperformance; provided, however, that if the
breach is of such a nature that it cannot be cured within fifteen days, no Event of Default shall be deemed to have occurred by reason
of the breach if cure is commenced promptly and diligently pursued to completion within a period not longer than ninety days; and
provided further, that in the event of a breach involving an imminent threat to health or safety, Landlord may in its notice of breach
reduce the period for cure to such shorter period as may be reasonable under the circumstances.
19.2 Remedies. Upon the occurrence of an Event of Default, Landlord, at any time thereafter without further notice or
demand may exercise any one or more of the following remedies concurrently or in succession:
(a) Terminate Tenant’s right to possession of the Premises by legal process or otherwise, with or without terminating
this Lease, and retake exclusive possession of the Premises.
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