Application of Rent. No payment by Tenant or receipt by Landlord of lesser amounts of Base Annual Rent or Additional Rent than those required by this Lease shall be deemed to be other than on account of the earliest unpaid stipulated Base Annual Rent or Additional Rent. No endorsement or statement on any check or any letter accompanying any check or payment as Base Annual Rent or Additional Rent shall be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such Base Annual Rent and Additional Rent or pursue any other remedy provided in this Lease. Any credit due to Tenant hereunder by reason of overpayment of Base Annual Rent or Additional Rent shall first be applied to any Base Annual Rent, Additional Rent or other sums owed to Landlord by Tenant as set forth elsewhere in this Lease or if Tenant shall be in default when said credit shall be owed.
Application of Rent. Xxxxxx agrees that Landlord may apply any payment of Rent Landlord receives from Tenant first to any additional rent, outstanding fees, costs or charges owed by Tenant to Landlord under this Apartment Lease and then to the first rent payment due and owing regardless of any statement by Xxxxxx, written or oral, or any notation on Tenant’s rental payment check or money order to the contrary.
Application of Rent. No payment by Tenant or receipt by Landlord of lesser amounts of rent or additional rent than those herein stipulated shall be deemed to be other than on account of the earliest unpaid stipulated rent. No endorsement or statement on any check or any letter accompanying any check or payment as rent shall be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of such rent or pursue any other remedy provided in this Lease. Any credit due to Tenant hereunder by reason of overpayment of additional rent shall first be applied to any damages or rent owed to Landlord by Tenant if Tenant shall be in default when said credit shall be owed.
Application of Rent. 6 2.9 Late Payment Fee and Interest Charge.................................6 2.10 Other Tenant Costs and Expenses......................................6
Application of Rent. Any Rent received will be applied in this order: (i) to unpaid Rent owed for earlier months than the current month; and then (ii) to Rent owed for the current month.
Application of Rent. Any rent received by Sublessor before the Effective Date under the Existing Lease will be retained in full by Sublessor. The first installment of rent due under this Sublease shall be on March 1, 1998.
Application of Rent. (a) Each Tenant may, until Lender delivers a Payment Notice, pay Rent directly to Mortgagor (or its designee). Mortgagor shall hold all Rent it (or its designee) receives in trust for the benefit of Lender. Unless Lender otherwise agrees, Mortgagor may only use the Rent to satisfy obligations arising under the Promissory Note, including payment of all Real Estate Taxes, insurance premiums, maintenance and repair costs, for the Property.
(b) After a Tenant receives a Payment Notice, Tenant shall pay directly to Lender all Rent thereafter accruing. Tenant is relieved of its obligations to pay Mortgagor under any Lease to the extent of all Rent Tenant pays to Lender.
(c) Lender may use any Rent it receives for (in the priority and amounts as Lender determines in its discretion): (i)
(1) the expenses to operate, maintain and manage the Property, and (2) the expenses incident to taking and retaining possession of the Property and collecting Rent; and (ii) the Obligations. The assignment in Section 2.1 above does not reduce the Indebtedness unless Lender actually receives Rent and applies it to the Indebtedness.
(d) Lender may, at its option and without impairing its rights under the assignment in Section 2.1 above, release any Rent Lender receives to Mortgagor.
(e) As between Mortgagor, Lender and any other Person, except a Tenant who has not received a Payment Notice, the assignment in Section 2.1 above is absolute, unconditional and presently effective. Lender's delivery of a Payment Notice is solely for the benefit and protection of each Tenant and does not otherwise benefit or affect Mortgagor or any Person claiming through or under Mortgagor.
(f) Lender is not required to institute legal proceedings to enforce the terms of this Section.
Application of Rent. If this Agreement be assigned or if the Continental Special Facilities be sublet or occupied by any party other than by Airline, or should any other transfer of interest or rights of any nature prohibited by Section 13.01 occur other than to the Trustee in accordance with the Indenture without authorization of the Board of Control of City, City may collect rent from any assignee, sublessee or transferee and in such event shall apply the net amount collected to the rents payable by Airline hereunder, but such action by City shall not constitute a waiver of the covenant contained in Section 13.01, or acceptance of such assignee, sublessee, or transferee by City, or a release of Airline from this Agreement or any of its obligations hereunder. (End of Article XIII)
Application of Rent. If Lessor elects to relet the Premises as provided in paragraph 16.a., rent which Lessor receives from reletting shall be applied to the payment of first, any indebtedness from Lessee to Lessor other than rent due from Lessee; second, all costs, including costs for maintenance incurred by Lessor in reletting; third, rent due and unpaid under this Lease.
Application of Rent. Whenever an Event of Default has occurred, any payment of Rent by Tenant, any other payment of any nature tendered by Tenant to Landlord and any other amount of money collected or received by Landlord from any reletting of the Premises pursuant to this Section 20 will be applied in such order as Landlord may elect toward payment of all amounts due from Tenant to Landlord pursuant to this Lease.
