Agreed Final Damages Sample Clauses

Agreed Final Damages. In the event of the occurrence of an Event of Default, if Landlord so elects, Tenant shall pay Landlord, on demand, as liquidated and agreed final damages, the net present value of all Base Rent which would have been payable by Tenant from the date of such demand to the date when this Lease would have expired if it had not been terminated as aforesaid. Such net present value shall be computed using a discount rate equal to the federal funds rate in effect at such time. Upon payment of such liquidated and agreed final damages, Tenant shall be under no further liability with respect to the period after the date of such demand.

Agreed Final Damages. 30 Section 16.06. Waiver of Right of Redemption ............................

Agreed Final Damages. If Landlord so elects, Tenant shall pay Landlord, on demand, as liquidated and agreed final damages, the following amount: (A) (i) the net present value of all Rent which would have been payable by Tenant from the date of such demand to the date when this Lease would have expired if it had not been terminated as aforesaid (such period of time being referred to as the “Remaining Default Term”), plus (ii) any amounts due and owing from Tenant to Landlord, as of the date of Landlord’s demand, which have not been paid, plus (iii) all expenses which Landlord may have incurred in re‑entering the Demised Premises, repossessing the same; making good any Event of Default; painting, altering or dividing the Demised Premises; combining or placing the same in proper repair; protecting and preserving the same by placing therein watchmen and caretakers; and re-letting the same, plus (iv) the commission amount Landlord would reasonably be expected to be charged by a broker to lease the Demised Premises to another Tenant for the Remaining Default Term minus (B) the net present value of the fair market rent (as defined below), determined as of the date of Landlord’s demand, for the Demised Premises during the period commencing one (1) year after the date of Landlord’s demand until the last day of the Remaining Default Term (such calculation being for a period which is one year less than the Remaining Default Term to reflect the possibility of the Demised Premises remaining unleased for a significant period of time). The net present values described in clause (A)(i) and clause (B) above shall be computed using a discount rate equal to six percent (6%) per annum. Upon payment of such liquidated and agreed final damages and all other amounts described in this Section 16.05, Tenant shall be under no further liability with respect to the period after the date of such demand. For purposes of this Section 16.05, “fair market rent” shall have the same meaning as Market Rent (as defined in Section 4.01(b) hereof); provided however, that (1) fair market rent shall be determined by obtaining an appraisal from one Appraiser (as defined in Section 2.01 hereof) selected by Landlord (and not the Appraisal Procedure described in this Lease) and (2) the Appraiser shall be instructed to determine fair market rent based on the then current condition of the Demised Premises.

Agreed Final Damages. If Landlord so elects, Tenant shall pay Landlord, on demand, as liquidated and agreed final damages, the Rent and all other charges which would have been payable by Tenant from the date of such demand to the date when this Lease would have expired if it had not been terminated as aforesaid. Upon payment of such liquidated and agreed final damages, Tenant shall be under no further liability with respect to the period after the date of such demand. In the event Landlord makes the election under this Section 16.05 and Tenant has paid all amounts required under this Section 16.05, Landlord’s duty to take commercially reasonable steps to re-let the Demised Premises (to mitigate its damages), as provided in Section 16.04(b) hereof, shall continue, and if Landlord shall succeed in such efforts to re-let the Demised Premises, Landlord shall return to Tenant the net proceeds of any re-letting of the Demised Premises during such period under this Section 16.05 (but in no event for any period beyond the originally scheduled expiration of the base Term of this Lease) that are recovered by Landlord; provided, however, that the amounts so returned to Tenant shall in no event exceed the amounts paid by Tenant to Landlord under this Section 16.05.