Common use of Acceleration, Reletting Clause in Contracts

Acceleration, Reletting. If this Lease is terminated under the provisions of Article 21, or if Landlord shall re-enter the Demised Premises under the provisions of Article 22, or in the event of the termination of this Lease, or of re-entry, by or under any summary dispossess or other proceeding or action or any provision of law by reason of default hereunder on the part of Tenant, Tenant shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (i) the aggregate amount of the Fixed Rent and the Additional Rent under Articles 2 and 16 which would have been payable by Tenant (conclusively presuming the Additional Rent under Article 16 to be the same as was payable for the prior year, or if less than 365 days have then elapsed since the Commencement Date, the partial year immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date contemplated as the Expiration Date hereof if this Lease had not so terminated or if Landlord had not so re-entered the Demised Premises, over (ii) the aggregate rental value of the Demised Premises for the same period, or (b) sums equal to the Fixed Rent and the Additional Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the Demised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date contemplated as the Expiration Date hereof if this Lease had not so terminated or if Landlord had not so re-entered the Demised Premises provided, however, that if Landlord shall relet the Demised Premises during said period, Landlord shall credit Tenant with the net rents received by Landlord from such reletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such reletting the expenses incurred or paid by Landlord in terminating this Lease or in re-entering the Demised Premises and in securing possession thereof, as well as the expenses of reletting, including, without limitation, altering and preparing the Demised Premises for new tenants, brokers' commissions, legal fees, and all other expenses properly chargeable against the Demised Premises and the rental therefrom, it being understood that any such reletting may be for a period If the Demised Premises or any part thereof be relet by Landlord for the unexpired portion of the Term, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of rent reserved upon such reletting shall, prima facie, be the fair and reasonable rental value for Demised Premises, or part thereof, so relet during the term of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Demised Premises or any part thereof, or if the Demised Premises or any part thereof are relet, for its failure to collect the rent under such reletting, and no such refusal or failure to relet or failure to collect rent shall release or affect Tenant's liability for damages or otherwise under this Lease.

Acceleration, Reletting. If this Lease is terminated under the provisions of Article 2119, or if Landlord shall re-enter the Demised Premises under the provisions of Article 2220, or in the event of the termination of this Lease, or of re-entry, by or under any summary dispossess or other proceeding or action or any provision of law by reason of default hereunder on the part of Tenant, in addition to any and all rights or remedies which Landlord may have at law or in equity pursuant to this Lease or the Purchase and Sale Agreement, Tenant shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (i) the aggregate amount of the Fixed Rent and the Additional Rent under Articles 2 and 16 this Lease which would have been payable by Tenant (conclusively presuming the Additional Rent under Article 16 to be the same as was payable for the prior year, or if less than 365 days have then elapsed since the Commencement Date, the partial year immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date contemplated as the Expiration Date expiration date hereof if this Lease had not so terminated or if Landlord had not so re-entered the Demised Premises, over (ii) the aggregate rental value of the Demised Premises for the same period, or (b) sums equal to the Fixed Rent and the Additional Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the Demised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date contemplated as the Expiration Date hereof if this Lease had not so terminated or if Landlord had not so re-entered the Demised Premises Premises, provided, however, that if Landlord shall relet the Demised Premises during said period, Landlord shall credit Tenant with the net rents received by Landlord from such reletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such reletting the expenses incurred or paid by Landlord in terminating this Lease or in re-entering the Demised Premises and in securing possession thereof, as well as the expenses of reletting, including, without limitation, altering and preparing the Demised Premises for new tenants, brokers' commissions, legal fees, and all other expenses properly chargeable against the Demised Premises and the rental therefrom, it being understood that any such reletting may be for a period shorter or longer than the remaining Term, but in no event shall Tenant be entitled to receive any excess of such net rents over the sums payable by Tenant to Landlord hereunder nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subdivision to a credit in respect of any net rents from reletting, except to the extent that such net rents are actually received by Landlord. If the Demised Premises or any part thereof should be relet in combination with other space, then proper apportionment on a square foot basis shall be made of the rent received from such reletting and of the expenses of reletting. If the Demised Premises or any part thereof be relet by Landlord for the unexpired portion of the Term, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of rent reserved upon such reletting shall, prima facie, be the fair and reasonable rental value for the Demised Premises, or part thereof, so relet during the term of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Demised Premises or any part thereof, or if the Demised Premises or any part thereof are relet, for its failure to collect the rent under such reletting, and no such refusal or failure to relet or failure to collect rent shall release or affect Tenant's liability for damages or otherwise under this Lease.

Acceleration, Reletting. If Subject to the limitations expressed in Subsection 16(a)(ii), if this Lease is terminated under the provisions of Article 2115, or if Landlord shall re-enter the Demised Premises under the provisions of Article 2215, or in the event of the termination of this Lease, or of re-entry, by or under any summary dispossess or other proceeding or action or any provision of law by reason of default an Event of Default hereunder on the part of Tenant, in addition to any and all rights or remedies which Landlord may have at law or in equity, Tenant shall pay to Landlord as damages, at the election of Landlord, either: (ai) a sum which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (i) the aggregate amount of the Fixed Rent and the Additional Rent under Articles 2 and 16 this Lease which would have been payable by Tenant (conclusively presuming the Additional Rent under Article 16 to be the same as was payable for the prior year, or if less than 365 days have then elapsed since the Commencement Date, the partial year immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date contemplated as the Expiration Date expiration date hereof if this Lease had not so terminated or if Landlord had not so re-entered the Demised Premises, over discounted to the present value (ii) the aggregate rental value as of the Demised Premises for date of actual payment of the same periodaccelerated sum to Landlord) assuming an interest rate of 8%, or (bii) sums equal to the Fixed Rent and the Additional Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the Demised Premises, payable upon the due dates therefor therefore specified herein following such termination or such re-entry and until the date contemplated as the Expiration Date hereof if this Lease had not so terminated or if Landlord had not so re-entered the Demised Premises provided, Premises; provided however, that in the case of either of clause (i) or (ii) Landlord shall use reasonable efforts to relet the Premises during said remaining period upon commercially reasonable terms (but this shall not impose upon Landlord any duty to relet the Premises before leasing any other space in the Premises), and if Landlord shall relet the Demised Premises during said period, Landlord shall credit Tenant with the net rents received by Landlord from such reletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such reletting the commercially reasonable expenses incurred or paid by Landlord in terminating this Lease or in re-entering reentering [SIC] the Demised Premises and in securing possession thereof, as well as the expenses of reletting, including, without limitationlimitations, altering and preparing the Demised Premises for new tenants, brokers' ’ commissions, reasonable legal fees, and all other expenses properly chargeable against the Demised Premises and the rental therefrom, it being understood that any such reletting may be for a period shorter or longer than the remaining term, but in no event shall Tenant be entitled to receive any excess of such net rents over the sums payable by Tenant to Landlord hereunder nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subdivision to a credit in respect of any net rents from reletting, except to the extent that such net rents are actually received by Landlord. Any expenses for altering or otherwise preparing the Premises for relet shall be chargeable to Tenant hereunder only to the extent that these sums, when added to the other sums due from Tenant under Subsection 16(a)(ii) hereof, do not exceed the amount for which Tenant would have been liable and Landlord Proceeded [SIC] with its remedies under Subsection 16(a) hereof and not made any attempt to relet the Premises (without applying the discount provided in that subsection). If the Demised Premises or any part thereof should be relet in combination with other space, then proper apportionment on a square foot basis shall be made of the rent received from such reletting and of the expenses of reletting. If the Premises or any part thereof be relet by Landlord for the unexpired portion of the Term, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of rent reserved received upon such reletting shall, prima facie, shall be presumed to be the fair and reasonable rental value for Demised the Premises, or part thereof, so relet during the term of the relettingreletting (but such presumption may be rebutted by Tenant’s submission of proper proof to the contrary). Landlord shall not be liable in any way whatsoever for its failure or refusal inability to relet the Demised Premises or any part thereof, or if the Demised Premises or any part thereof are relet, for its failure inability to collect the rent under such reletting, and no such refusal or failure inability to relet or failure to collect rent shall release or affect Tenant's ’s liability for damages or otherwise under this Lease.

Acceleration, Reletting. If this Lease is terminated under the provisions of Article 21, or if Landlord shall re-enter the Demised Premises under the provisions of Article 22, or in the event of the termination of this Lease, or of re-entry, by or under any summary dispossess or other proceeding or action or any provision of law by reason of default hereunder on the part of Tenant, Tenant shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (i) the aggregate amount of the Fixed Rent and the Additional Rent under Articles 2 and 16 which would have been payable by Tenant (conclusively presuming the Additional Rent under Article 16 to be the same as was payable for the prior year, or if less than 365 days have then elapsed since the Commencement Date, the partial year immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date contemplated as the Expiration Date hereof if this Lease had not so terminated or if Landlord had not so re-entered the Demised Premises, over (ii) the aggregate rental value of the Demised Premises for the same period, or (b) sums equal to the Fixed Rent and the Additional Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the Demised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date contemplated as the Expiration Date hereof if this Lease had not so terminated or if Landlord had not so re-entered reentered the Demised Premises Premises; provided, however, that if Landlord shall relet the Demised Premises during said period, Landlord shall credit Tenant with the net rents received by Landlord from such reletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such reletting the expenses incurred or paid by Landlord in terminating this Lease or in re-entering the Demised Premises and in securing possession thereof, as well as the expenses of reletting, including, without limitation, altering and preparing the Demised Premises for new tenants, brokers' commissions, legal fees, and all other expenses properly chargeable against the Demised Premises and the rental therefrom, it being understood that any such reletting may be for a period shorter or longer than the remaining Term, but in no event shall Tenant be entitled to receive any excess of such net rents over the sums payable by Tenant to Landlord hereunder nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subdivision to a credit in respect of any net rents from reletting, except to the extent that such net rents are actually received by Landlord. If the Demised Premises or any part thereof shall be relet in combination with other space, then proper apportionment on a square foot basis shall be made of the rent received from such reletting and of the expenses of reletting. If the Demised Premises or any part thereof be relet by Landlord for the unexpired portion of the Term, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of rent reserved upon such reletting shall, prima facie, be the fair and reasonable rental value for the Demised Premises, or part thereof, so relet during the term of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Demised Premises or any part thereof, or if the Demised Premises or any part thereof are relet, for its failure to collect the rent under such relettingrent, and no such refusal or failure to relet or failure to collect rent shall release or affect Tenant's liability for damages or otherwise under this LeaseLease shall not be released or otherwise affected thereby.

Acceleration, Reletting. If Subject to the limitations expressed in Subsection 16(a)(ii), if this Lease is terminated under the provisions of Article 2115, or if Landlord shall re-enter the Demised Premises under the provisions of Article 2215, or in the event of the termination of this Lease, or of re-entry, by or under any summary dispossess or other proceeding or action or any provision of law by reason of default an Event of Default hereunder on the part of Tenant, in addition to any and all rights or remedies which Landlord may have at law or in equity, Tenant shall pay to Landlord as damages, at the election of Landlord, either: (ai) a sum which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (i) the aggregate amount of the Fixed Rent and the Additional Rent under Articles 2 and 16 this Lease which would have been payable by Tenant (conclusively presuming the Additional Rent under Article 16 to be the same as was payable for the prior year, or if less than 365 days have then elapsed since the Commencement Date, the partial year immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date contemplated as the Expiration Date expiration date hereof if this Lease had not so terminated or if Landlord had not so re-entered the Demised Premises, over discounted to the present value (ii) the aggregate rental value as of the Demised Premises for date of actual payment of the same periodaccelerated sum to Landlord) assuming an interest rate of 8%, or (bii) sums equal to the Fixed Rent and the Additional Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the Demised Premises, payable upon the due dates therefor therefore specified herein following such termination or such re-entry and until the date contemplated as the Expiration Date hereof if this Lease had not so terminated or if Landlord had not so re-entered the Demised Premises provided, Premises; provided however, that in the case of either of clause (i) or (ii) Landlord shall use reasonable efforts to relet the Premises during said remaining period upon commercially reasonable terms (but this shall not impose upon Landlord any duty to relet the Premises before leasing any other space in the Premises), and if Landlord shall relet the Demised Premises during said period, Landlord shall credit Tenant with the net rents received by Landlord from such reletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such reletting the commercially reasonable expenses incurred or paid by Landlord in terminating this Lease or in re-entering reentering the Demised Premises and in securing possession thereof, as well as the expenses of reletting, including, without limitationlimitations, altering and preparing the Demised Premises for new tenants, brokers' ’ commissions, reasonable legal fees, and all other expenses properly chargeable against the Demised Premises and the rental therefrom, it being understood that any such reletting may be for a period shorter or longer than the remaining term, but in no event shall Tenant be entitled to receive any excess of such net rents over the sums payable by Tenant to Landlord hereunder nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subdivision to a credit in respect of any net rents from reletting, except to the extent that such net rents are actually received by Landlord. Any expenses for altering or otherwise preparing the Premises for relet shall be chargeable to Tenant hereunder only to the extent that these sums, when added to the other sums due from Tenant under Subsection 16(a)(ii) hereof, do not exceed the amount for which Tenant would have been liable and Landlord Proceeded with its remedies under Subsection 16(a) hereof and not made any attempt to relet the Premises (without applying the discount provided in that subsection). If the Demised Premises or any part thereof should be relet in combination with other space, then proper apportionment on a square foot basis shall be made of the rent received from such reletting and of the expenses of reletting. If the Premises or any part thereof be relet by Landlord for the unexpired portion of the Term, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of rent reserved received upon such reletting shall, prima facie, shall be presumed to be the fair and reasonable rental value for Demised the Premises, or part thereof, so relet during the term of the relettingreletting (but such presumption may be rebutted by Tenant’s submission of proper proof to the contrary). Landlord shall not be liable in any way whatsoever for its failure or refusal inability to relet the Demised Premises or any part thereof, or if the Demised Premises or any part thereof are relet, for its failure inability to collect the rent under such reletting, and no such refusal or failure inability to relet or failure to collect rent shall release or affect Tenant's ’s liability for damages or otherwise under this Lease.