Common use of Benefit of the Bargain Clause in Contracts

Benefit of the Bargain. If Landlord elects to terminate this Lease or terminate Tenant’s right of possession to the Leased Premises without terminating this Lease, there shall immediately become due and payable the amount by which: (i) the present value [determined using a discount rate of ten percent (10%) per annum] of the total Rent and other benefits which would have accrued to Landlord under this Lease for the remainder of the Term if the terms and provisions of this Lease had been fully complied with by Tenant, exceeds (ii) the total fair market rental value [determined using a discount rate of ten percent (10%) per annum] of the Leased Premises for the balance of the Term (it being the agreement of both parties hereto that Landlord shall receive the benefit of its bargain). For purposes of this Section 7.2.4, the fair market rental value of the Leased Premises shall be the prevailing market base rental rate (similarly defined) for similar space in similar office buildings in the Greenspoint area of Houston, Texas for a lease term equal to the remaining Term (without regard to any renewal options). In addition, there shall be recoverable from Tenant: (i) if Landlord elects to restore the Leased Premises to a Building standard condition, normal wear and tear excepted, the cost to do so; (ii) all accrued, unpaid sums due under this Lease, plus interest at the rate set forth in Section 2.1.3 for past due sums up to the date of termination; (iii) Landlord’s cost of recovering possession of the Leased Premises; and (iv) any other sum of money or damages owed by Tenant to Landlord.

Benefit of the Bargain. If Landlord elects to terminate this Lease or terminate Tenant’s 's right of possession to the Leased Premises without terminating this Lease, there shall immediately become due and payable the amount by which: (i) the present value [determined using a discount rate of ten eight percent (108%) per annum] annum of the total Rent and other benefits which would have accrued to Landlord under this Lease for the remainder of the Term if the terms and provisions of this Lease had been fully complied with by Tenant, exceeds (ii) the total fair market rental value [determined using a discount rate of ten eight percent (108%) per annum] of the Leased Premises for the balance of the Term (it being the agreement of both parties hereto that Landlord shall receive the benefit of its bargain). In the event that Landlord elects to terminate Tenant's right of possession to the Leased Premises without terminating this Lease, and thereafter Landlord recovers from Tenant all sums payable under this Section 7.1.4, this Lease shall be deemed terminated as of the date of such recovery. For purposes of this Section 7.2.47.1.4, the fair market rental value of the Leased Premises shall be the prevailing market base rental rate (similarly defined) Market Rate for similar space in similar high-rise office buildings in the Greenspoint area of Houston, Texas Greenway Plaza and Galleria areas for a lease term equal to the remaining Term (without regard to any renewal options). In addition, there shall be recoverable from Tenant: (i) if Landlord elects to restore the reasonable cost of restoring the Leased Premises to a Building standard condition, normal wear and tear and damage due to casualty or condemnation excepted, the cost to do so; (ii) all accrued, unpaid sums due under this Leasesums, plus interest at the rate set forth in Section 2.1.3 Applicable Rate for past due sums up to the date of termination; (iii) Landlord’s 's reasonable cost of recovering possession of the Leased Premises; (iv) Rent accruing subsequent to the date of termination pursuant to the holdover provisions of Section 7.3, if any; and (ivv) any other sum of money or damages owed by Tenant to LandlordLandlord pursuant to this Lease.