The importance of written notice in a commercial lease

I previously discussed the importance of having written documents & agreements. Today, I would like to share the importance of a written notice in a commercial lease. As you may imagine, the Tenant may be noted in default pursuant to the terms of the lease. In the event of a default by the Tenant, the Landlord may exercise certain rights in order to remedy the default. If you are the Tenant, you need to ensure that the Lanldlord give you a written notice that you are in default. By receiving the written notice, you will be able to cure the default and the Landlord will not be able to note you in default.

For ease of reference, I included the 2 clauses:

ACTS OF DEFAULT AND LANDLORD'S REMEDIES

(1) An Act of Default has occurred when:
(a) the Tenant has failed to pay Rent for a period of five (5) consecutive days, regardless of whether demand for payment has been made or not;

&&&&&&&&&&&&

In the event of a default made by Tenant in the payment of rent when due to Landlord, Tenant shall have five (5) days after receipt of written notice thereof to cure such default.

Did you notice the difference??

Why is it so important?

well, in the event that you sign a 5 year lease and 1 option for another 5 year - pursuant to the terms of the lease, in order to renew and exercise your option, you need to have to respected the terms of your lease.

here is an example of clause:

Provided the Tenant has observed and performed its obligations under this Lease, and is not in default hereunder, the Tenant shall have one option to renew this Lease for a further period of five (5) years on the same terms and conditions