Additional Remedies of Landlord. A. In the event of any Event of Default, re-entry, termination and/or dispossession by summary proceedings or otherwise, in addition to, and not in lieu of, all other remedies which Landlord has under this Lease, at law or in equity; (1) the Base Rent, Common Area Maintenance Rent and all Additional Rent shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration; and (2) Landlord may relet the Leased Premises or any part of parts thereof, either in the name of Landlord or otherwise for a term of rental which may at Landlord's option be less than or exceed the period which would otherwise have constituted the balance of the term of this Lease, and at such rental or rentals and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable. Landlord may make such alterations and repairs as Landlord deems necessary in order to relet the Leased Premises upon each such reletting all rentals received by Landlord from such reletting shall be applied, first, to the payment of any costs and expenses of such reletting, including brokerage fees, attorneys' fees and costs of such alterations and repairs; second, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rents received from such reletting during any month are less than that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Leased Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach.
Appears in 1 contract
Samples: Lease (Protalex Inc)
Additional Remedies of Landlord. A. (a) In the event case of any Event Events of Default, and Landlord re-entryenters, termination terminates and/or dispossession dispossesses Tenant by summary proceedings or otherwise, in addition to, and not in lieu of, of all other remedies which Landlord has under this LeaseLease or which may be available to Landlord, at law or in equity; : (1i) the Base Rent, Common Area Maintenance Annual Rent and all Additional Rent Charges shall become due thereupon and owing by Tenant and be paid up to the time of such re-entry, dispossession dispossess and/or expiration; and termination, (2ii) Landlord may relet the Leased Demised Premises or any part of or parts thereof, either in the name of Landlord or otherwise otherwise, for a term of rental which may at Landlord's option be less than or exceed the period which would otherwise have constituted the balance of the term Term, and (iii) Tenant or the legal representative of Tenant shall also pay Landlord, at Landlord’s option and whether or not Landlord has terminated this Lease, and at such rental or rentals and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable. Landlord may make such alterations and repairs as Landlord deems necessary in order to relet damages for the Leased Premises upon each such reletting all rentals received by Landlord from such reletting shall be applied, first, to the payment failure of any costs and expenses of such reletting, including brokerage fees, attorneys' fees and costs of such alterations and repairs; second, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; thirdobserve and perform said Tenant’s covenants here in contained, to for each month of the payment period which would otherwise have constituted the balance of rent due the Term, any deficiency between the sum of (a) the monthly installment(s) of Base Annual Rent and unpaid hereunder; Additional Charges that would have been payable for the calendar month in question but for such re-entry or termination, and (b) the residuenet amount, if any, of the rents actually collected on account of the lease or leases of the Demised Premises for such month. In computing such damages there shall be held by Landlord added to the said deficiency all non-recurring sums and applied in payment of future rent as the same may charges remaining unpaid and which are due or to become due from Tenant pursuant to this Lease and payable hereundersuch reasonable expenses as Landlord may incur in connection with reletting, such as court costs, attorney’s fees, paralegal’s fees, litigation expenses through all trial and appellate levels and disbursements therefor, brokerage and management fees and commissions, cost of putting and keeping the Demised Premises in good order and costs of preparing the Demised Premises for reletting as hereinafter provided, and any such expenses as Landlord may incur in order to cure any breach by Tenant. If Any such rents received from such reletting during damages shall be paid in monthly installments by Tenant on the dates that Base Annual Rent would otherwise have been due as set forth herein and any suit brought to collect the amount of the deficiency for any month are less than that shall not prejudice in any way the rights of Landlord to be paid during that collect the deficiency for any subsequent month by a similar proceeding or to elect to collect a lump sum amount for its damages. Landlord, at Landlord’s option, may make such alterations, repairs, replacements and/or decorations in the Demised Premises as Landlord considers advisable or necessary for the purpose of reletting the Demised Premises, and the making of such alterations, repairs, replacements and/or decorations shall not operate or be construed to release Tenant hereunder, Tenant shall pay any such deficiency to Landlordfrom liability hereunder as aforesaid. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Leased Premises by Landlord shall in no event be construed as an election on its part liable in any way whatsoever for failure to terminate this Lease unless relet the Demised Premises, or in the event that the Demised Premises or a written notice of portion thereof is relet, for failure to collect any sums due under such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breachreletting.
Appears in 1 contract
Samples: Lease (Bankrate, Inc.)
Additional Remedies of Landlord. A. In the event of any Event of Default, re-entry, termination and/or dispossession by summary proceedings or otherwise, in addition to, and not in lieu of, all other remedies which Landlord has under this Lease, at law or in equity; (1) the Base Rent, Common Area Maintenance Rent and all Additional Rent shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration; and (2) Landlord may relet the Leased Premises or any part of parts thereof, either in the name of Landlord or otherwise for a term of rental which may at Landlord's ’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this Lease, and at such rental or rentals and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable. Landlord may make such alterations and repairs as Landlord deems necessary in order to relet the Leased Premises upon each such reletting all rentals received by Landlord from such reletting shall be applied, first, to the payment of any costs and expenses of such reletting, including brokerage fees, attorneys' ’ fees and costs of such alterations and repairs; second, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rents received from such reletting during any month are less than that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Leased Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach.
Appears in 1 contract
Samples: Commercial Lease (Protalex Inc)
Additional Remedies of Landlord. A. (a) In the event of any Event of Default, Deliberate Event of Default, re-entry, termination and/or dispossession by summary proceedings or otherwise, in addition to, and not in lieu of, all other remedies which Landlord has under this Lease, at law or in equity; : (1) the Base Rent, Common Area Maintenance Rent and all Additional Fixed Minimum Rent shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration; and (2) Landlord may relet the Leased Demised Premises or any part of or parts thereof, either in the name of Landlord or otherwise otherwise, for a term of rental which may at Landlord's option be less than or exceed the period which would otherwise have constituted the balance of the term of this Lease, and may grant concessions or free rent and (3) Tenant or the legal representative of Tenant shall also pay Landlord at such rental Landlord's option and whether or rentals not Landlord has terminated or canceled this Lease, either liquidated damages calculated by the formula set forth in Section 17.02 hereof and upon such the other terms and conditions damages referred to in Section 17.02(b), or as Landlord, in its sole discretion, may deem advisable. Landlord may make such alterations and repairs as Landlord deems necessary in order to relet liquidated damages for the Leased Premises upon each such reletting all rentals received by Landlord from such reletting shall be applied, first, to the payment failure of any costs and expenses of such reletting, including brokerage fees, attorneys' fees and costs of such alterations and repairs; second, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; thirdobserve and perform said Tenant's covenants herein contained, to for each month of the payment period which would otherwise have constituted the balance of rent due and unpaid hereunder; and the residueterm, the excess, if any, of the sum of one monthly installment of Fixed Minimum Rent, the monthly portion of the payment of Tax Rent that would have been payable for the period in question but for such re-entry or termination, the monthly payment of Tenant's current proportionate share of Operating Costs over the net amount, if any, of the rents actually collected on account of the lease or leases of the Demised Premises for such month. The refusal or failure of Landlord to relet the Demised Premises or any part or parts thereof shall not release or affect Tenant's liability for damages. In computing such liquidated damages there shall be held by added to the said deficiency the damages set forth in Section 17.02(a) hereof and such expenses as Landlord may incur in connection with reletting, such as court costs, attorney's fees and applied disbursements, brokerage, and management fees and commissions, cost of putting and keeping the Demised Premises in payment good order and costs of future rent preparing the Demised Premises for reletting as the same may become due and payable hereunderhereinafter provided. If Any such rents received from such reletting during any month are less than that to liquidated damages shall be paid during that month in monthly installments by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of on the Leased Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate day specified in this Lease for the payment of Fixed Minimum Rent and any action brought to collect the amount of deficiency for any month shall not prejudice in any way either the rights of Landlord to collect the deficiency for any subsequent month by a similar proceeding, or the rights of Landlord to elect to collect liquidated damages calculated by the formula set forth in Section 17.02 hereof, provided only that such previous breachliquidated damages shall be reduced by the amount, if any, of monthly liquidated damages collected by Landlord minus the actual cost (including attorney's fees and costs) of collecting such monthly liquidated damages. Landlord, at Landlord's option, may make such alterations, repairs, replacements and/or decorations in the Demised Premises as Landlord in Landlord's sole judgment considers advisable and necessary for the purpose of reletting the Demised Premises; and the making of such alterations and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Landlord shall in no event be liable in any way whatsoever for failure to relet the Demised Premises, or in the event that the Demised Premises are relet, for failure to collect the rent thereof under such reletting.
Appears in 1 contract
Additional Remedies of Landlord. A. In the event of any Event of Default, re-entry, termination and/or dispossession by summary proceedings or otherwise, in addition to, and not in lieu of, all other remedies which Landlord has under this Lease, at law or in equity; (1) the Base Rent, Common Area Maintenance Rent and all Additional Rent shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration; and (2) Landlord may relet the Leased Premises or any part of parts thereof, either in the name of Landlord or otherwise for a term of rental which may at Landlord's ’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this Lease, and at such rental or rentals and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable. Landlord may make such alterations and repairs as Landlord deems necessary in order to relet the Leased Premises upon Premises. Upon each such reletting all rentals received by Landlord from such reletting shall be applied, first, to the payment of any costs and expenses of such reletting, including brokerage fees, attorneys' ’ fees and costs of such alterations and repairs; second, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlordlandlord; third, to the payment of rent due and unpaid hereunder; , and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rents received from such reletting during any month are less than that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Leased Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach.
Appears in 1 contract
Samples: Health Sciences Acquisitions Corp 2
Additional Remedies of Landlord. A. In (a) Upon the event occurrence of any Event of Default, and whether or not Landlord elects to re-entryenter, termination and/or dispossession by summary as herein provided, or to take possession pursuant to legal proceedings or otherwiseto any notice provided for by law, in addition to, and not in lieu of, all other remedies which Landlord has under may either terminate this Lease or it may from time to time without terminating this Lease, at law or make such alterations and repairs as may be necessary in equity; (1) the Base Rent, Common Area Maintenance Rent and all Additional Rent shall become due thereupon and be paid up order to the time of such re-entry, dispossession and/or expiration; and (2) Landlord may relet the Leased Premises, and relet said Premises or any part of parts thereof, either in the name of Landlord thereof upon such term or otherwise terms (which may be for a term of rental which may at Landlord's option be less than or exceed the period which would otherwise have constituted the balance of extending beyond the term of this Lease, ) and at such rental or rentals and upon such other terms and conditions as Landlord, Landlord in its sole discretion, discretion may deem advisable. Landlord may make such alterations and repairs as Landlord deems necessary in order to relet the Leased Premises ; upon each such reletting all rentals received by Landlord from such reletting shall be applied, first, to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including brokerage fees, attorneys' fees and attorney's fees and costs of such alterations and repairs; second, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; third, to the payment of rent Rent due and unpaid hereunder; , and the residuebalance, if any, shall be held by Landlord and applied in payment of future rent Rent as the same may become due and payable hereunder. If such rents rental received from such reletting during any month are be less than that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Leased said Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination., Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Premises, reasonable attorney's fees, and the worth at the time of such termination of the excess, if any, of the amount of Rent for the remainder of the stated term over the then reasonable rental value of the Premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord. In determining the Rent which would be payable by Tenant hereunder, subsequent to default, the annual Rent for each year of the unexpired terms shall be equal to the average Rent paid by Tenant from the Commencement Date to the time of default, or during the proceeding three (3) full calendar years, whichever period is shorter.
Appears in 1 contract
Samples: Lease Agreement (Armitec Inc)