BREACH BY TENANT. In the event that Tenant defaults in the performance of any of the terms, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performed, and such default is not corrected within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly.
Appears in 4 contracts
Samples: Lease Agreement, Lease Agreement, Lease Agreement
BREACH BY TENANT. In the event that 19.01 Tenant defaults will be in the performance breach of any of the terms, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performed, and such default is not corrected within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period this Lease if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of during the term of this Lease shall be paid (and regardless of the pendency of any bankruptcy, reorganization, receivership, insolvency or other proceedings in law, in equity or before any administrative tribunal which have or might have the effect of preventing Tenant from complying with the terms of this Lease):
A. Tenant fails to Tenant. Should such rental received from time to time from such reletting during make payment of any month be less than that agreed installment of Base Monthly Rent, Additional Rent, or of any other sum herein specified to be paid during that month by Tenant within ten (10) days of the date such sum was due under this Lease; and after three (3) days following notice from Landlord of such breach; or
B. Tenant fails to observe or perform any of its other covenants, agreements or obligations hereunder, and such failure is not cured within ten (10) business days after Landlord's written notice to Tenant shall of such failure; provided, however, that if the nature of Tenant's obligation is such that more than ten (10) business days are required for performance, then Tenant will not be in breach if Tenant commences performance within such 10 business day period and thereafter diligently prosecutes the same to completion; or
C. Tenant, Tenant's assignee, subtenant, guarantor, or occupant of the Premises becomes insolvent, makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is the subject of a bankruptcy petition, is adjudged bankrupt or insolvent in proceedings filed against Tenant, a receiver, trustee, or custodian is appointed for all or substantially all of Tenant's assets, fails to pay such deficiency its debts as they become due, convenes a meeting of all or a portion of its creditors, or performs any acts of bankruptcy or insolvency, including the selling of its assets to Landlord. Such deficiency shall be calculated and paid monthlypay creditors; or
D. Tenant has abandoned the Premises as defined in paragraph 16 above.
Appears in 1 contract
BREACH BY TENANT. In 19.01 Tenant shall be in breach of this Lease if at any time during the event that Tenant defaults in term of this Lease (and regardless of the performance pendency of any bankruptcy, reorganization, receivership, insolvency or other proceedings in law, in equity or before any administrative tribunal which have or might have the effect of preventing Tenant from complying with the termsterms of this Lease):
A. Tenant fails to make payment of any installment of Base Monthly Rent, provisionsAdditional Rent, covenants and agreements on the Tenant’s part or of any other sum herein specified to be keptpaid by Tenant, observed and performedwhen due; or
B. Tenant fails to observe or perform any of its other covenants, agreements or obligations hereunder, and such default failure is not corrected cured within ten (10) days after Landlord's written notice to Tenant of such failure; provided, however, that if the nature of Tenant's obligation is such that more than ten (10) days are required for performance, then Tenant shall not be in breach if Tenant commences performance within such 10 day period and thereafter diligently prosecutes the same to completion; or
C. Tenant, Tenant's assignee, subtenant, guarantor, or occupant of the Property becomes insolvent, makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is the subject of a bankruptcy petition, is adjudged bankrupt or insolvent in proceedings filed against Tenant, a receiver, trustee, or custodian is appointed for all or substantially all of Tenant's assets, fails to pay its debts as they become due, convenes a meeting of all or a portion of its creditors, or performs any acts of bankruptcy or insolvency, including the selling of its assets to pay creditors; or
D. Tenant has abandoned the Property as defined in Section 16 above.
E. Tenant fails to take possession of the Property within thirty (30) days after the provision of receiving notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to that the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, Property is Ready for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlyOccupancy.
Appears in 1 contract
BREACH BY TENANT. In the event that 19.01 Tenant defaults will be in the performance breach of any of the terms, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performed, and such default is not corrected within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period this Lease if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of during the term of this Lease shall be paid (and regardless of the pendency of any bankruptcy, reorganization, receivership, insolvency or other proceedings in law, in equity or before any administrative tribunal which have or might have the effect of preventing Tenant from complying with the terms of this Lease):
A. Tenant fails to Tenant. Should such rental received from time to time from such reletting during make payments of any month be less than that agreed installment of Base Monthly Rent, Additional Rent, or of any other sum herein specified to be paid during by Tenant, within ten days following written Notice that month by the same is past due; or
B. Tenant fails to observe or perform any of its other covenants, agreements or obligations hereunder, and such failure is not cured within ten (10) days after Landlord's written notice to Tenant shall of such failure; provided, however, that if the nature of Tenant's obligation is such that more than ten (10) days are required for performance, then Tenant will not be in breach if Tenant commences performance within such 10 day period and thereafter diligently prosecutes the same to completion; or
C. Tenant, Tenant's assignee, subtenant, guarantor, or occupant of the Premises becomes insolvent, makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is the subject of a bankruptcy petition, is adjudged bankrupt or insolvent in proceedings filed against Tenant, a receiver, trustee, or custodian is appointed for all or substantially all of Tenant's assets, fails to pay such deficiency its debts as they become due, convenes a meeting of all or a portion of its creditors, or performs any acts of bankruptcy or insolvency, including the selling of its assets to Landlord. Such deficiency shall be calculated and paid monthly.pay creditors; or
Appears in 1 contract
Samples: Standard Industrial Lease (Net Net Net) (Rexall Sundown Inc)
BREACH BY TENANT. In the event that Tenant defaults in the performance 16.01 The occurrence of any of the terms, provisions, covenants and agreements following shall constitute an Event of Default ("Event of Default") under this Lease on the part of Tenant’s part :
(a) Failure to be keptpay when due any payment of base rental, observed and performedadditional rent, or any other sum of money payable by Tenant under this Lease, and such default is not corrected within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail failure to pay any amount due hereunder continues for more than a period of five (5) days after written notice thereof from Landlord of such failure to pay; provided however, Landlord shall not be required to provide such notice more than two (2) times in any one (1) lease year, the third (3`a) and any subsequent such failure in such lease year to pay within five (5) days after the due date therefor constituting an Event of Default without Landlord being required to provide such notice or allow Tenant a grace period after such notice;
(b) Tenant's interest in this Lease or the Leased Premises shall be subjected to any attachment, execution, levy or other judicial seizure pursuant to any order or decree entered against Tenant in any legal proceeding that is not stayed (so as to prevent seizure) pending appeal and such order or decree is not vacated or bonded against so as to prevent seizure upon the earlier to occur of (aa) fifteen (15) days prior to the sale of such interest pursuant to such order or decree, or (bb) sixty (60) days after entry of the order; or
(c) Tenant breaches or fails to comply with any term, provision, condition, or covenant of this Lease, other than as described in clause 16.01(a) above, and such breach or failure continues for fifteen (15) days after written notice from Landlord of such breach or failure to comply.
16.02 Upon the occurrence of an Event of Default, Landlord shall have the option to do and perform any one or more of the following in addition to, and not in limitation of, any other remedy or right permitted it by law or in equity or by this Lease:
(a) Landlord, thenwith or without terminating this Lease, in such eventmay immediately or at any time thereafter re-enter the Leased Premises and correct or repair any condition which shall constitute a failure on Tenant's part to keep, observe, perform, satisfy, or abide by any term, condition, covenant, agreement, or obligation of this Lease or of any notice given Tenant by Landlord pursuant to the terms of this Lease, and Tenant shall fully reimburse and compensate Landlord on demand for Landlord's actual costs so incurred.
(b) Landlord, with or without terminating this Lease, may immediately or at its option any time thereafter demand in writing that Tenant vacate the Leased Premises and thereupon Tenant shall immediately vacate the Leased Premises and remove therefrom all property thereon belonging to or placed in the Leased Premises by, at the direction of, or with consent of Tenant, whereupon Landlord shall have the right to re-enter and take possession of the Leased Premises. Any such demand, reentry and taking possession of the Leased Premises by Landlord shall not of itself constitute an acceptance by Landlord of a surrender of this Lease or of the Leased Premises by Tenant and shall not of itself constitute a termination of this Lease by Landlord.
(c) Landlord, with or without terminating this Lease, may immediately or at any time thereafter, may terminate this Lease together with reenter the Leased Premises pursuant to a court order and remove therefrom Tenant and all of the estate, right, and title thereby granted property belonging to or vested in Tenant by giving twenty (20) days notice in writing of such electionplaced on the Leased Premises by, by certified mail addressed to Tenant at the address specified in this Leasedirection of, and at the expiration or with consent of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be requiredTenant. Notwithstanding Any such re-entry and removal by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein Landlord shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, itself constitute an acceptance by Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate surrender of this Lease or from time to timeof the Leased Premises by Tenant and shall not of itself constitute a termination of this Lease by Landlord.
(d) Landlord, with or without terminating this Lease, enter and may immediately or at any time thereafter relet the Leased Premises or other any part thereof for the account and in the name of Tenant or otherwisethereof, without cost to Landlord, for any such term time or times, at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion but reasonable judgment deems advisable, and Landlord may make any alterations or repairs to the Leased Premises which it may deem advisable with necessary or proper to facilitate such reletting; and Tenant shall pay all actual costs of such reletting including but not limited to the right to make cost of any such alterations and repairs to the Leased Premises. , attorneys' fees actually incurred, leasing inducements, and brokerage commissions; and if this Lease shall not have been terminated, Tenant shall continue to pay all rent due under this Lease up to and including the date of beginning of payment of rent by any subsequent tenant of part or all of the Leased Premises, and thereafter Tenant shall pay to Landlord as soon as ascertained, monthly during the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end remainder of the term of this Lease the difference, if any, between the rent and other charges collected from any such subsequent tenant or tenants and the rent and other charges reserved in this Lease, but Tenant shall not be entitled to receive any excess of any such rents collected over the rent reserved herein.
(e) Landlord may immediately or at any time thereafter terminate this Lease, and this Lease shall be paid deemed to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month have been terminated upon receipt by Tenant hereunderof notice of such termination; upon such termination Landlord shall recover from Tenant all damages that Landlord may suffer by reason of such termination including, without limitation, all arrearages in rentals, costs, charges, additional rentals, and reimbursements, the cost (including court costs and attorneys' fees actually incurred) of recovering possession of the Leased Premises, the actual or estimated (as reasonably estimated by Landlord) cost of any alteration of or repair to the Leased Premises which is necessary or proper to prepare the same for relettmg; in addition, Landlord may declare immediately due and payable the present value (using a discount rate of eight percent (8%) per annum) of all rent and other sums due or to become due under this Lease; provided, however that such payment shall not constitute a penalty or forfeiture, but shall constitute full liquidated damages due to Landlord as a result of Tenant's default. Landlord and Tenant acknowledge that Landlord's actual damages in the event of a default by Tenant under this Lease will be difficult to ascertain, and that the liquidated damages provided above represent the parties' best estimate of such damages. The parties expressly acknowledge that the foregoing liquidated damages are intended not as a penalty, but as full liquidated damages, as permitted by Paragraph 13-6-7 of the Official Code of Ga. Annotated. Upon making such payment, Tenant shall pay be entitled to receive from Landlord all rents actually received by Landlord from other assignees, tenants and subtenants on account of the Leased Premises during the term of this Lease, provided that the monies to which Tenant shall so become entitled shall in no event exceed the entire amount actually paid by Tenant to Landlord pursuant to this subparagraph (e), less all costs, expenses and attorneys' fees incurred by Landlord in connection with the re-letting of the Premises.
16.03 If Landlord re-enters the Leased Premises or terminates this Lease pursuant to any of the provisions of this Lease, Tenant hereby waives all claims for damages which may be caused by such deficiency to re-entry or termination by Landlord's reasonable acts complying with the provisions of this Lease. Such deficiency No such reentry or termination shall be calculated and paid monthlyconsidered or construed to be a forcible entry.
Appears in 1 contract
BREACH BY TENANT. In 19.01 Tenant will be in breach of this Lease if at any time during the event that Tenant defaults in term of this Lease (and regardless of the performance pendency of any bankruptcy, reorganization, receivership, insolvency or other proceedings in law, in equity or before any administrative tribunal which have or might have the effect of preventing Tenant from complying with the termsterms of this Lease):
A. Tenant fails to make payment of any installment of Base Monthly Rent, provisionsAdditional Rent, covenants and agreements on the Tenant’s part or of any other sum herein specified to be keptpaid by Tenant, observed and performedwithin ten (10) days of when due; or
B. Tenant fails to observe or perform any of its other covenants, agreements or obligations hereunder, and such default failure is not corrected cured within twenty (20) days after Landlord's written notice to Tenant of such failure; provided, however, that if the nature of Tenant's obligation is such that more than twenty (20) days are required for performance, then Tenant will not be in breach if Tenant commences performance within such 20 day period and thereafter diligently prosecutes the same to completion; or
C. Tenant, Tenant's assignee, subtenant, guarantor, or occupant of the Premises becomes insolvent, makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is the subject of a bankruptcy petition, is adjudged bankrupt or insolvent in proceedings filed against Tenant, a receiver, trustee, or custodian is appointed for all or substantially all of Tenant's assets, fails to pay its debts as they become due, convenes a meeting of all or a portion of its creditors, or performs any acts of bankruptcy or insolvency, including the selling of its assets to pay creditors; or
D. Tenant has abandoned the Premises as defined in paragraph 16 above.
E. Tenant fails to take possession of the Premises within thirty (30) days after the provision of receiving notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to that the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlyare available.
Appears in 1 contract
Samples: Standard Industrial Lease (Igo Corp)
BREACH BY TENANT. In the event that Tenant defaults in the performance of any of the terms, provisions, covenants and agreements on the Tenant’s 's part to be kept, observed and performed, and such default is not corrected within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s 's Property Management Office, if any, Office shall have the right to determine on Xxxxxxxx’s Landlord's behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's ’s occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: firstFirst, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly.
Appears in 1 contract
Samples: Lease Agreement
BREACH BY TENANT. In the event that (a) Default by Tenant defaults The following events, if not cured in the performance time periods set forth in Section 19.04(b) or this subparagraph (a) shall each constitute an “Event of Default” hereunder:
(1) Tenant fails to comply with the Permitted Uses and Occupancy Restrictions set forth in Section 9.02;
(2) Tenant voluntarily or involuntarily assigns, transfers or attempts to transfer or assign this Ground Lease or any of the terms, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performed, and such default is not corrected within thirty (30) days after the provision of notice thereof from Landlordrights in this Ground Lease, or such longer period in the Improvements, except as may be reasonable under the circumstances; permitted by this Ground Lease;
(3) Tenant, or shorter period if required by applicable fire or safety codes; or if Tenant shall abandonits successor in interest, desert, vacate or remove from the Premises; or if Tenant shall fail to pay taxes or assessments in accordance with Article 15, or shall place on the Site any amount due hereunder for more than five (5) days after written notice thereof from Landlordencumbrance or lien in violation of this Ground Lease, thenor shall suffer any levy or attachment to be made, or any material supplier’s or mechanic’s lien or any other encumbrance or lien to attach in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all violation of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing terms of such election, by certified mail addressed to Tenant at the address specified in this Ground Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to taxes or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein assessments shall not be extinguished for have been paid, or the balance of encumbrance or lien removed or discharged in accordance with the term terms of this Ground Lease. The Manager of Landlord’s Property Management Office; provided, if anyhowever, that Tenant shall have the right to determine on Xxxxxxxx’s behalf contest any tax or assessment pursuant to Article 15 and Article 18 and, upon the existence posting of any default in performance an adequate bond or other breach security, to contest any such lien or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or publicencumbrance. In the event of any such contest, Tenant shall protect, indemnify and hold OCII harmless against all losses and damages, including reasonable attorneys’ fees and costs resulting therefrom;
(4) Tenant shall be adjudicated bankrupt or insolvent or shall make a default by Xxxxxxtransfer in defraud of creditors, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof make an assignment for the account and in the name benefit of creditors, or bring or have brought against Tenant any action or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment proceeding of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment kind under any provision of the cost of Federal Bankruptcy Act or under any alterations and repairs to the Premises necessary to return the Premises to good conditionother insolvency, normal wear and tear exceptedbankruptcy or reorganization act and, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as such proceedings are involuntary, Tenant is not dismissed from the same may become due and payable hereunder and the balancewithin ninety (90) days thereafter; or, if any, at the end a receiver is appointed for a substantial part of the term assets of Tenant and such receiver is not discharged within ninety (90) days;
(5) Tenant breaches any other material provision of this Lease shall be paid Ground Lease;
(6) Tenant fails to Tenant. Should such rental received from time to time from such reletting during pay any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated portion of Annual Rent when due in accordance with the terms and paid monthlyprovisions of this Ground Lease.
Appears in 1 contract
Samples: Ground Parcel Lease
BREACH BY TENANT. In 19.01 Tenant will be in breach of this Lease if at any time during the event that Tenant defaults in term of this Lease (and regardless of the performance pendency of any bankruptcy, reorganization, receivership, insolvency or other proceedings in law, in equity or before any administrative tribunal which have or might have the effect of preventing Tenant from complying with the termsterms of this Lease):
A. Tenant fails to make payment of any xxxxxxxment of Base Monthly Rent, provisionsAdditional Rent, covenants and agreements on the Tenant’s part or of any other sum herein specified to be keptpaid by Tenant, observed and performedwithin five (5) days of receixx xx written notice from Landlord as provided under this Lease; or
B. Tenant fails to observe or perform any of its other covenants, agreements or obligations hereunder, and such default failure is not corrected cured within fifteen (15) days after Landlord's written notice to Tenant xx xxxx failure; provided, however, that if the nature of Tenant's obligation is such that more than fifteen (15) days are required for performance, then Tenant will not be in breach if Tenant commences performance within such 15 day period and thereafter diligently prosecutes the same to completion; or
C. Tenant, Tenant's assignee, subtexxxx, xxaraxxxx, or occupant of the Premises becomes insolvent, makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is the subject of a bankruptcy petition, is adjudged bankrupt or insolvent in proceedings filed against Tenant, a receiver, trustee, or custodian is appointed for all or substantially all of Tenant's assets, fails to pay its debts as they become due, convenes a meeting of all or a portion of its creditors, or performs any acts of bankruptcy or insolvency, including the selling of its assets to pay creditors; or
D. Tenant has abandoned the Premises ax xxxxxxx in paragraph 16 above.
E. Tenant fails to take possession of xxx Xxxxises within thirty (30) days after the provision of receiving notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to that the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlyare available.
Appears in 1 contract
Samples: Standard Industrial Lease (Net Net Net) (Brightpoint Inc)
BREACH BY TENANT. A. In the event that of a breach or threatened breach by Tenant defaults in the performance of any of the terms, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performed, and such default is not corrected within thirty (30) days after the provision or provisions of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, Owner shall have the right to determine enjoin any such breach or threatened breach.
B. Any and all rights and remedies which Owner may have under this Lease and at law or in equity, shall be cumulative and shall not be deemed inconsistent with each other, and any two or more or all of said rights and remedies may be exercised at the same time or at different times and from time to time. If any of the aforesaid provisions or any other provision of this lease shall be unenforceable or void, said provision shall be deemed eliminated and of no force and effect and the balance of this Lease shall continue in full force and effect. If any notice is required by law to be given, such notice shall be given.
C. The Tenant covenants and agrees to pay on Xxxxxxxx’s behalf demand Owner's expenses, including reasonable attorneys' fees and disbursements, incurred in successfully enforcing any obligation of the existence of Tenant under the Lease or in curing any default by Tenant under this Lease.
D. The Owner shall have a lien on Tenant's interest in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to secure the Premises if Landlord determines that access to the Premises or continuation payment and performance of Tenant's occupancy would jeopardize obligations hereunder. Furthermore, to secure: (i) the health or safety payment of all base rent and additional rent; and (ii) Tenant's performance of all of its obligations under this Lease, Tenant grants to Owner an express first and prior lien and security interest in all fixtures and similar personal property which are and may be placed In the Demised Premises after the date hereof, and the proceeds thereof, and upon all proceeds of any insurance which may accrue to Tenant by reason of the studentsdestruction or damage of any such property. Tenant will not remove such property in which Owner has an interest as provided herein (except Tenant may remove fixtures and similar personal property if same is replaced at the premises by property of like quality and equivalent value) without the prior written consent of Owner until Owner sha1l have released its lien, staff or publicthis Lease is terminated for reasons of Owner's default as determined by a court of competent jurisdiction, or the termination of such security interest as provided in this Lease, whichever first occurs. In Tenant waives the event benefit of a default by Xxxxxx, Landlord, all exemption laws in favor of such lien and security interest. This lien and security interest is given in addition to other rights Owner's statutory lien and is cumulative with it. Upon the occurrence of a default, which default is not cured within the applicable cure period, these liens may be foreclosed with or remedies that it may havewithout court proceedings by public or private sale, shall so long as Owner gives Tenant at least fifteen (15) days written notice of the time and place of the sale. Owner will have the right to either terminate this Lease or from time to time, without terminating become the purchaser if it is the highest bidder at such sale. By executing this Lease, enter Tenant is authorizing Owner to file Uniform Commercial Code Financing statements in form and relet substance sufficient (upon proper filing) to perfect the Premises or other part thereof for the account security interest granted in this section and any Uniform Commercial Code continuation on statements as may be required in the name of Tenant future to reflect any proper amendment of, modification in, or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment extension of the cost of any alterations security interest granted in this section. This section shall constitute a "security agreement" as said term is defined in the New York Uniform Commercial Code. The security interest and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted lien created by this Lease subparagraph shall terminate, and Owner shall deliver to Tenant one or more UCC-3 termination statements terminating such lien, upon the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of earlier of: (i) The termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease by reason of Owner's default as determined by a court of competent jurisdiction or (ii) the termination or other expiration of this Lease pursuant to its terms.
E. Additionally, should the Premises not be occupied for a period of in excess of 240 consecutive days absent Owner's consent, it shall be paid to Tenanta non-curable default hereunder. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month Notwithstanding foregoing, if the Premises are closed by Tenant hereunderreason of a fire or other casualty, Tenant then the provisions herein shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlynot apply, unless the same would result in the loss of the present use for the Premises.
Appears in 1 contract
BREACH BY TENANT. In 19.01 Tenant will be in breach of this Lease if at any time during the event that Tenant defaults in term of this Lease (and regardless of the performance pendency of any bankruptcy, reorganization, receivership, insolvency or other proceedings in law, in equity or before any administrative tribunal which have or might have the effect of preventing Tenant from complying with the termsterms of this Lease):
A. Tenant fails to make payment of any installment of Base Monthly Rent, provisionsAdditional Rent, covenants and agreements on the Tenant’s part or of any other sum herein specified to be kept, observed and performedpaid by Tenant, and such default failure is not corrected cured within ten (10) days after Landlord's written notice to Tenant of such failure; or
B. Tenant fails to observe or perform any of its other covenants, agreements or obligations hereunder, and such failure is not cured within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after 's written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such electionfailure; provided, by certified mail addressed to Tenant at however, that if the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation nature of Tenant's occupancy would jeopardize obligation is such that more than thirty (30)days are required for performance, then Tenant will not be in breach if Tenant commences performance within such thirty (30) day period and thereafter diligently prosecutes the health same to completion; or
C. Tenant, Tenant's assignee, subtenant, guarantor, or safety occupant of the studentsPremises becomes insolvent, staff or public. In makes a transfer in fraud of its creditors, makes a transfer for the event benefit of its creditors, is the subject of a default by Xxxxxxbankruptcy petition, Landlordis adjudged bankrupt or insolvent in proceedings filed against Tenant, in addition a receiver, trustee, or custodian is appointed for all or substantially all of Tenant's assets, fails to other rights pay its debts as they become due, convenes a meeting of all or remedies that it may havea portion of its creditors, shall have or performs any acts of bankruptcy or insolvency, including the right selling of its assets to either terminate this Lease or from time to time, without terminating this Lease, enter and relet pay creditors; or
D. Tenant has abandoned the Premises or other part thereof for the account and as defined in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premisesparagraph 16. Tenant shall pay above without providing thirty (30) days prior written notice to Landlord as soon as ascertained, provided therein.
E. Tenant fails to take possession of the costs and expenses incurred Premises within thirty (30) days of receiving notice by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to that the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlyare available.
Appears in 1 contract
BREACH BY TENANT. A. In the event that of a breach by Tenant defaults in the performance of any of the terms, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performed, and such default is not corrected within thirty (30) days after the provision or provisions of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, Owner shall have the right to determine enjoin any such breach.
B. Any and all rights and remedies which Owner may have under this Lease and at law or in equity, shall be cumulative and shall not be deemed inconsistent with each other, and any two or more or all of said rights and remedies may be exercised at the same time or at different times and from time to time. If any of the aforesaid provisions or any other provision of this lease shall be unenforceable or void, said provision shall be deemed eliminated and of no force and effect and the balance of this Lease shall continue in full force and effect. If any notice is required by law to be given, such notice shall be given.
C. The Tenant covenants and agrees to pay on Xxxxxxxx’s behalf demand Owners reasonable, out-of-pocket expenses, including reasonable attorneys fees and disbursements, incurred in enforcing any obligation of the existence of Tenant under the Lease or in curing any default by Tenant under this Lease.
D. The Owner shall have a lien on Tenant's interest in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to secure the Premises if Landlord determines that access to the Premises or continuation payment and performance of Tenant's occupancy would jeopardize obligations hereunder. Furthermore, to secure: (i) the health or safety payment of all base rent and additional rent; and (ii) Tenant's performance of all of its obligations under this Lease, Tenant grants to Owner an express first and prior lien and security interest in all inventory, equipment, fixtures and other personal property ("FF&E") which are and may be placed in the Demised Premises after the date hereof, and the proceeds thereof, and upon all proceeds of any insurance which may accrue to Tenant by reason of the studentsdestruction or damage of any such property provided that Landlord agrees that such lien shall be subordinate to any lien arising in connection with Tenant's purchase of FF&E. Tenant will not remove such property in which Owner has an interest as provided herein (except Tenant may remove items of inventory in the ordinary course of' business if it replaces them at the Premises with similar items of inventory and Tenant may remove equipment, staff fixtures and their personal property if same is replaced at the premises by property of like quality and equivalent value) without the prior written consent of Owner until Owner shall have released its lien, or publicthis Lease is terminated for reasons of Owner's default as determined by a court of competent jurisdiction, or the termination of such security interest as provided in this Lease, whichever first occurs. In Tenant waives the event benefit of a default by Xxxxxx, Landlord, all exemption laws in favor of' such lien and security interest. This lien and security interest is given in addition to other rights Owner's statutory lien and is cumulative with it. Upon the occurrence of a default, which default is not cured within the applicable cure period, these liens may be foreclosed with or remedies that it may havewithout court proceedings by public or private sale, shall so long as Owner gives Tenant at least fifteen (15) days written notice of the time and place of the sale. Owner will have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet become the Premises or other part thereof for purchaser if it is the account and in the name of Tenant or otherwise, for any highest bidder at such term or terms and conditions as Landlord in sale. Contemporaneous with its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term execution of this Lease (and if requested after such execution by Owner), Tenant will execute and deliver to Owner Uniform Commercial Code Financing statements in form and substance sufficient (upon proper filing) to perfect the security interest granted in this section. If requested by Owner, Tenant also will execute and deliver to Owner Uniform Commercial Code continuation statements in form and substance sufficient to reflect any proper amendment of, modification in, or extension of the security interest granted in this section. Tins Section shall constitute a "security agreement" as said term is defined in the New York Uniform Commercial Code. The security interest and lien created by this subparagraph shall terminate, and Owner shall deliver to Tenant one or more UCC-3 termination statements terminating such lien, upon the earlier of:
(i) The termination of this Lease by reason of Owner's default as determined by a court of competent jurisdiction; or
(ii) the termination or other expiration of this Lease pursuant to its terms.
E. Additionally, should the Premises not be occupied for a period of in excess of 120 consecutive days, it shall be paid to Tenanta non-curable default hereunder. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month Notwithstanding foregoing, if the Premises are closed by Tenant hereunderreason of a fire or other casualty, Tenant then the provisions herein shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlynot apply, unless the same would result in the loss of the present use for the Premises.
Appears in 1 contract
Samples: Lease Agreement (Ask Jeeves Inc)
BREACH BY TENANT. In the event that Tenant defaults in the performance 22.01 The occurrence of any of the terms, provisions, covenants and agreements following shall constitute an Event of Default ("Event of Default") under this Lease on the part of Tenant’s part :
(a) Failure to be keptpay when due any payment of base rental, observed and performedadditional rent, or any other sum of money payable by Tenant under this Lease, and such default failure to pay continues for a period of ten (10) days after notice from Landlord of such failure to pay; provided, however, Landlord shall not be required to provide such notice more than two (2) times in any one (1) calendar year, the third (3rd) and any subsequent such failure in such calendar year to pay within ten (10) days after the due date therefor constituting an Event of Default without Landlord being required to provide such notice or allow Tenant a grace period after such notice;
(b) Tenant's interest in this Lease or the Leased Premises shall be subjected to any attachment, execution, levy or other judicial seizure pursuant to any order or decree entered against Tenant in any legal proceeding that is not corrected stayed (so as to prevent seizure) pending appeal and such order or decree is not vacated or bonded against so as to prevent seizure upon the earlier to occur of (aa) fifteen (15) days prior to the sale of such interest pursuant to such order or decree, or (bb) sixty (60) days after entry of the order; or
(c) Tenant breaches or fails to comply with any term, provision, condition, or covenant of this Lease, other than as described in clause 21.01(i) above, and such breach or failure continues for thirty (30) days after written notice from Landlord of such breach or failure to comply; or in the event such breach or failure is curable but cannot be cured within thirty (30) days and Tenant does not commence to cure such breach or failure promptly within such thirty (30) day period and continuously thereafter pursue such cure and remedy such breach or failure within a reasonable period of time, not to exceed an additional 90 days.
22.02 Upon the occurrence of an Event of Default, Landlord shall have the option to do and perform any one or more of the following in addition to, and not in limitation of, any other remedy or right permitted it by law or in equity or by this Lease:
(a) Landlord, with or without terminating this Lease, may immediately or at any time thereafter re-enter the Leased Premises and correct or repair any condition which shall constitute a failure on Tenant's part to keep, observe, perform, satisfy, or abide by any term, condition, covenant, agreement, or obligation of this Lease or of any notice given Tenant by Landlord pursuant to the terms of this Lease, and Tenant shall fully reimburse and compensate Landlord on demand for Landlord's actual costs so incurred.
(b) Landlord, with or without terminating this Lease, may immediately or at any time thereafter demand in writing that Tenant vacate the Leased Premises and thereupon Tenant shall immediately vacate the Leased Premises and remove therefrom all property thereon belonging to or placed in the Leased Premises by, at the direction of, or with consent of Tenant, whereupon Landlord shall have the right to re-enter and take possession of the Leased Premises. Any such demand, reentry and taking possession of the Leased Premises by Landlord, shall not of itself constitute an acceptance by Landlord of a surrender of this Lease, or of the Leased Premises by Tenant, and shall not of itself constitute a termination of this Lease by Landlord.
(c) Landlord, with or without terminating this Lease, may immediately or at any time thereafter, reenter the Leased Premises pursuant to a court order and remove therefrom Tenant and all property belonging to or placed on the Leased Premises by, at the direction of, or with consent of Tenant. Any such re-entry and removal by Landlord shall not of itself constitute an acceptance by Landlord of a surrender of this Lease or of the Leased Premises by Tenant and shall not of itself constitute a termination of this Lease by Landlord.
(d) Landlord, with or without terminating this Lease, may immediately or at any time thereafter use reasonable efforts to relet the Leased Premises or any part thereof, without cost to Landlord (it being agreed that "reasonable efforts" does not require Landlord to make any effort to relet the Leased Premises or any portion thereof in preference to any unleased space or space leased or subleased by Landlord or its affiliates in other buildings) for such time or times, at such rental or rentals and upon such other terms and conditions as Landlord in its sole, but reasonable judgment (taking into account the fair market rental value of the Leased Premises) deems advisable, and Landlord may make any alterations or repairs to the Leased Premises which it in its reasonable determination may be necessary or proper to facilitate such reletting; and Tenant shall pay all reasonable costs of such reletting including but not limited to the cost of any such alterations and repairs to the Leased Premises, reasonable attorneys' fees actually incurred, leasing inducements, and brokerage commissions; and if this Lease shall not have been terminated, Tenant shall continue to pay all rent due under this Lease up to and including the date of beginning of payment of rent by any subsequent tenant of part or all of the Leased Premises, and thereafter Tenant shall pay monthly during the remainder of the term of this Lease the difference, if any, between the rent and other charges collected from any such subsequent tenant or tenants and the rent and other charges reserved in this Lease, but Tenant shall not be entitled to receive any excess of any such rents collected over the rent reserved herein.
(e) Landlord may immediately or at any time thereafter terminate this Lease, and this Lease shall be deemed to have been terminated upon receipt by Tenant of notice of such termination; upon such termination Landlord shall recover from Tenant all damages that Landlord may suffer by reason of such termination including, without limitation, all arrearages in rentals, reasonable costs, charges, additional rentals, and reimbursements, the cost (including court costs and reasonable attorneys' fees actually incurred) of recovering possession of the Leased Premises, the actual or estimated (as reasonably estimated by Landlord) cost of any alteration of or repair to the Leased Premises which is necessary or proper to prepare the same for reletting and, in addition thereto, Landlord shall have and recover from Tenant an amount equal to the present value (discounted at a rate per annum equal to the discount rate of the Federal Reserve Bank of Atlanta at the time the Event of Default occurs) of the rental to be paid by Tenant for the remainder of the lease term, over the present value (discounted at the same rate) of the fair market value of the Leased Premises for the remainder of the lease term.
22.03 If Landlord re-enters the Leased Premises or terminates this Lease pursuant to any of the provisions of this Lease, Tenant hereby waives all claims for damages which may be caused by such re-entry or termination by Landlord's reasonable acts complying with the provisions of this Lease. No such reentry or termination shall be considered or construed to be forcible entry.
22.04 Events of Default by Landlord" under this Lease shall be deemed to be the situations where Landlord shall fail to comply with any term, provision or covenant of this Lease and shall not commence to cure such failure within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, and diligently and in good faith continue to cure the default until completion. If the default cannot reasonably be cured within such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty thirty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (2030) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for in default if Landlord commences to cure the balance default within the thirty (30) day period and diligently and in good faith continues to cure the default until completion. In no event shall Landlord's right to cure extend beyond ninety (90) days following written notice from Tenant, unless such period is extended by Tenant Delays or Excusable Delays.
22.05 Upon the occurrence of the term any Event of this Lease. The Manager of Default by Landlord’s Property Management Office, if any, Tenant shall have the right to determine on Xxxxxxxx’s behalf perform the existence obligations of any default in performance or other breach or violation of the terms Landlord and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, Tenant shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Landlord reimburse Tenant or otherwise, on demand for any such term or terms reasonable and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the necessary costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from which Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlyhave incurred.
Appears in 1 contract
Samples: Lease Agreement (Innotrac Corp)
BREACH BY TENANT. In the event that Tenant defaults in the performance of any of the terms, provisions, covenants and agreements on the Tenant’s 's part to be kept, observed and performed, and such default is not corrected within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s 's Property Management Office, if any, Office shall have the right to determine on Xxxxxxxx’s 's behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's ’s occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: firstFirst, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly.
Appears in 1 contract
Samples: Lease Agreement
BREACH BY TENANT. A. In the event that of a breach by Tenant defaults in the performance of any of the terms, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performed, and such default is not corrected within thirty (30) days after the provision or provisions of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, Owner shall have the right to determine enjoin any such breach.
B. Any and all rights and remedies which Owner may have under this Lease and at law or in equity, shall be cumulative and shall not be deemed inconsistent with each other, and any two or more or all of said rights and remedies may be exercised at the same time or at different time and from time to time. If any of the aforesaid provisions or any other provision of this lease shall be unenforceable or void, said provision shall be deemed eliminated and of no force and effect and the balance of this Lease shall continue in full force and effect. If any notice is required by law to be given, such notice shall be given.
C. The Tenant covenants and agrees to pay on Xxxxxxxx’s behalf demand Owner's reasonable, out-of-pocket expenses, including reasonable attorneys' fees and disbursements, incurred in enforcing any obligation of the existence of Tenant under the Lease or in curing any default by Tenant under this Lease.
D. The Owner shall have a lien on Tenant's interest in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to secure the Premises if Landlord determines that access to the Premises or continuation payment and performance of Tenant's occupancy would jeopardize obligations hereunder. Furthermore, to secure: (1) the health or safety payment of all base rent and additional rent; and (ii) Tenant's performance of all of its obligations under this Lease. Tenant grants to Owner an express first and prior lien and security interest in all inventory, equipment, fixtures and other personal property ("FF&E") which are and may be placed in the Demised Premises after the date hereof, and the proceeds thereof, and upon all proceeds of an insurance which may accrue to Tenant by reason of the studentsdestruction or damage of any such property provided that Landlord agrees that such lien shall be subordinate to any lien arising in connection with Tenant's purchase of FF&E. Tenant will not remove such property in which Owner has an interest as provided herein (except Tenant may remove items of inventory in the ordinary course of business if it replaces them at the Premises with similar items of inventory and Tenant may remove equipment, staff fixtures and their personal property if same is replaced at the premises by property of like quality and equivalent value) without the prior written consent of Owner until Owner shall have released its lien, or publicthis Lease is terminated for reasons of Owner's default as determined by a court of competent jurisdiction, or the termination of such security interest as provided in this Lease, whichever first occurs. In Tenant waives the event benefit of a default by Xxxxxx, Landlord, all exemption laws in favor of such lien and security interest. This lien and security interest is given in addition to other rights Owner's statutory lien and is cumulative with it. Upon the occurrence of a default, which default is not cured within the applicable cure period, these liens may be foreclosed with or remedies that it may havewithout court proceedings by public or private sale, shall so long as Owner gives Tenant at least fifteen (15) days written notice of the time and place of the sale. Owner will have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet become the Premises or other part thereof for purchaser if it is the account and in the name of Tenant or otherwise, for any highest bidder at such term or terms and conditions as Landlord in sale. Contemporaneous with its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term execution of this Lease (and if requested after such execution by Owner), Tenant will execute and deliver to Owner Uniform Commercial Code Financing statements in form and substance sufficient (upon proper filing) to perfect the security interest granted in this section. If requested by Owner, Tenant also will execute and deliver to Owner Uniform Commercial Code continuation statements in form and substance sufficient to reflect any proper amendment of, modification in, or extension of the security interest granted in this section. This Section shall constitute a "security agreement" as said term is defined in the New York Uniform Commercial Code. The security interest and lien created by this subparagraph shall terminate, and Owner shall deliver to Tenant one or more UCC-3 termination statements terminating such lien, upon the earlier of:
(i) The termination of this Lease by reason of Owner's default as determined by a court of competent jurisdiction; or
(ii) the termination or other expiration of this Lease pursuant to its terms.
E. Additionally, should the Premises not be occupied for a period of in excess of 120 consecutive days, it shall be paid to Tenanta non-curable default hereunder. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month Notwithstanding foregoing, if the Premises are closed by Tenant hereunderreason of a fire or other casualty, Tenant then the provisions herein shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlynot apply, unless the same would result in the loss of the present use for the Premises.
Appears in 1 contract
Samples: Lease Agreement (Ask Jeeves Inc)
BREACH BY TENANT. In the event that Tenant defaults in the performance 21.01 The occurrence of any of the terms, provisions, covenants and agreements following shall constitute an Event of Default ("Event of Default") under this Lease on the part of Tenant’s part :
(a) Failure to be keptpay when due any payment of base rental, observed and performedadditional rent, or any other sum of money payable by Tenant under this Lease, and such default is not corrected within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail failure to pay any amount due hereunder continues for more than a period of five (5) days after written notice thereof from Landlord of such failure to pay; provided however, Landlord shall not be required to provide such notice more than two (2) times in any one (1) lease year, the third (3rd) and any subsequent such failure in such lease year to pay within five (5) days after the due date therefor constituting an Event of Default without Landlord being required to provide such notice or allow Tenant a grace period after such notice;
(b) Tenants interest in this Lease or the Leased Premises shall be subjected to any attachment, execution, levy or other judicial seizure pursuant to any order or decree entered against Tenant in any legal proceeding that is not stayed (so as to prevent seizure) pending appeal and such order or decree is not vacated or bonded against so as to prevent seizure upon the earlier to occur of (aa) fifteen (15) days prior to the sale of such interest pursuant to such order or decree, or (bb) sixty (60) days after entry of the order; or
(c) Tenant breaches or fails to comply with any term, provision, condition, or covenant of this Lease, other than as described in clause 21.01 (a) above, and such breach or failure continues for fifteen (15) days after written notice from Landlord of such breach or failure to comply.
21.02 Upon the occurrence of an Event of Default, Landlord shall have the option to do and perform any one or more of the following in addition to, and not in limitation of, any other remedy or right permitted it by law or in equity or by this Lease:
(a) Landlord, thenwith or without terminating this Lease, in such eventmay immediately or at any time thereafter reenter the Leased Premises and correct or repair any condition which shall constitute a failure on Tenant's part to keep, observe, perform, satisfy, or abide by any term, condition, covenant, agreement, or obligation of this Lease or of any notice given Tenant by Landlord pursuant to the terms of this Lease, and Tenant shall fully reimburse and compensate Landlord on demand for Landlord's actual costs so incurred.
(b) Landlord, with or without terminating this Lease, may immediately or at its option any time thereafter demand in writing that Tenant vacate the Leased Premises and thereupon Tenant shall immediately vacate the Leased Premises and remove therefrom all property thereon belonging to or placed in the Leased Premises by, at the direction of, or with consent of Tenant, whereupon Landlord shall have the right to reenter and take possession of the Leased Premises. Any such demand, reentry and taking possession of the Leased Premises by Landlord shall not of itself constitute an acceptance by Landlord of a surrender of this Lease or of the Leased Premises by Tenant and shall not of itself constitute a termination of this Lease by Landlord.
(c) Landlord, with or without terminating this Lease, may immediately or at any time thereafter, may terminate this Lease together with reenter the Leased Premises pursuant to a court order and remove therefrom Tenant and all of the estate, right, and title thereby granted property belonging to or vested in Tenant by giving twenty (20) days notice in writing of such electionplaced on the Leased Premises by, by certified mail addressed to Tenant at the address specified in this Leasedirection of, and at the expiration or with consent of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be requiredTenant. Notwithstanding Any such re-entry and removal by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein Landlord shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, itself constitute an acceptance by Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate surrender of this Lease or from time to timeof the Leased Premises by Tenant and shall not of itself constitute a termination of this Lease by Landlord.
(d) Landlord, with or without terminating this Lease, enter and may immediately or at any time thereafter relet the Leased Premises or other any part thereof for the account and in the name of Tenant or otherwisethereof, without cost to Landlord, for any such term time or times, at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion but reasonable judgment deems advisable, and Landlord may make any alterations or repairs to the Leased Premises which it may deem advisable with necessary or proper to facilitate such reletting; and Tenant shall pay all actual costs of such reletting including but not limited to the right to make cost of any such alterations and repairs to the Leased Premises. , attorneys' fees actually incurred, leasing inducements, and brokerage commissions; and if this Lease shall not have been terminated, Tenant shall continue to pay all rent due under this Lease up to and including the date of beginning of payment of rent by any subsequent tenant of part or all of the Leased Premises, and thereafter Tenant shall pay to Landlord as soon as ascertained, monthly during the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end remainder of the term of this Lease the difference, if any, between the rent and other charges collected from any such subsequent tenant or tenants and the rent and other charges reserved in this Lease, but Tenant shall not be entitled to receive any excess of any such rents collected over the rent reserved herein.
(e) Landlord may immediately or at any time thereafter terminate this Lease, and this Lease shall be paid deemed to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month have been terminated upon receipt by Tenant hereunderof notice of such termination; upon such termination Landlord shall recover from Tenant all damages that Landlord may suffer by reason of such termination including, without limitation, all arrearages in rentals, costs, charges, additional rentals, and reimbursements, the cost (including court costs and attorneys' fees actually incurred) of recovering possession of the Leased Premises, the actual or estimated (as reasonably estimated by Landlord) cost of any alteration of or repair to the Leased Premises which is necessary or proper to prepare the same for reletting; in addition, Landlord may declare immediately due and payable the present value (using a discount rate of eight percent (8%) per annum) of all rent and other sums due or to become due under this Lease; provided, however that such payment shall not constitute a penalty or forfeiture, but shall constitute full liquidated damages due to Landlord as a result of Tenant's default. Landlord and Tenant acknowledge that Landlord's actual damages in the event of a default by Tenant under this Lease will be difficult to ascertain, and that the liquidated damages provided above represent the parties' best estimate of such damages. The parties expressly acknowledge that the foregoing liquidated damages are intended not as a penalty, but as full liquidated damages, as permitted by Paragraph 13-6-7 of the Official Code of Ga. Annotated. Upon making such payment, Tenant shall pay such deficiency be entitled to Landlord. Such deficiency shall be calculated receive from Landlord all rents actually received by Landlord from other assignees, tenants and paid monthly.subtenants on account of the Leased Premises
Appears in 1 contract
BREACH BY TENANT. In the event that (i) Tenant defaults in the performance shall not make payment of any installment of the terms, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performed, rent or other sum herein specified and such default is not corrected within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant failure shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder continue for more than five (5) business days after written notice thereof from Landlord, thenbut if a failure to pay Base Rent shall occur more than twice in any twelve month period then no notice shall be required for any subsequent failure to pay Base Rent when due, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20ii) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease fail to observe or perform any other of Tenant's obligations hereunder and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein failure shall not be extinguished for the balance of the term of corrected within thirty days after written notice thereof from Landlord (or such longer period if reasonably required and Tenant is proceeding diligently to correct such failure), then this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any be considered a default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or publichereunder. In the event of a default by Xxxxxxdefault, Landlord, Landlord in addition to any and all other rights or remedies that it may havehave hereunder, at law or in equity shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and Lease relet the Leased Premises or other any part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make reasonable alterations and repairs to the Leased Premises. Tenant shall pay to Landlord Landlord, as soon as ascertained, the costs and expenses reasonably incurred by Landlord in such reletting or in making such reasonable alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental rentals received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, the Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly.
Appears in 1 contract
BREACH BY TENANT. In 19.01 Tenant will be in breach of this Lease if at any time during the event that Tenant defaults in term of this Lease (and regardless of the performance pendency of any bankruptcy, reorganization, receivership, insolvency or other proceedings in law, in equity or before any administrative tribunal which have or might have the effect of preventing Tenant from complying with the termsterms of this Lease):
A. Tenant fails to make payment of any installment of Base Monthly Rent, provisionsAdditional Rent, covenants and agreements on the Tenant’s part or of any other sum herein specified to be keptpaid by Tenant, observed and performedwhen due; or
B. Tenant fails to observe or perform any of its other covenants, agreements or obligations hereunder, and such default failure is not corrected cured within ten (10) days after Landlord's written notice to Tenant of such failure; provided, however, that if the nature of Tenant's obligation is such that more than ten (10) days are required for performance, then Tenant will not be in breach if Tenant commences performance within such 10 day period and thereafter diligently prosecutes the same to completion; or
C. Tenant, Tenant's assignee, subtenant, guarantor, or occupant of the Premises becomes insolvent, makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is the subject of a bankruptcy petition, is adjudged bankrupt or insolvent in proceedings filed against Tenant, a receiver, trustee, or custodian is appointed for all or substantially all of Tenant's assets, fails to pay its debts as they become due, convenes a meeting of all or a portion of its creditors, or performs any acts of bankruptcy or insolvency, including the selling of its assets to pay creditors; or
D. Tenant has abandoned the Premises as defined in paragraph 16 above.
E. Tenant falls to take possession of the Premises within thirty (30) days after the provision of receiving notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to that the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlyare available.
Appears in 1 contract
Samples: Standard Industrial Lease (Innovative Gaming Corp of America)
BREACH BY TENANT. In the event that Tenant defaults in the performance of any of the terms, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performed, and such default is not corrected within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on XxxxxxxxLandlord’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly.
Appears in 1 contract
Samples: Lease Agreement
BREACH BY TENANT. In 19.01 Tenant will be in breach of this Lease if at any time during the event that Tenant defaults in term of this Lease (and regardless of the performance pendency of any bankruptcy, reorganization, receivership, insolvency or other proceedings in law, in equity or before any administrative tribunal which have or might have the effect of preventing Tenant from complying with the terms of this Lease):
A. Tenant fails to make payment of any installment of Base Monthly Rent, Additional Rent, or of any other sum herein specified to be paid by Tenant, within ten (10) days of the termsdue date thereof; or
B. Tenant fails to observe or perform any of its other covenants, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performedor obligations hereunder, and such default failure is not corrected cured within ten (10) days after Landlord's written notice to Tenant of such failure; provided, however, that if the nature of Tenant's obligation is such that more than ten (10) days are required for performance, then Tenant will not be in breach if Tenant commences performance within such 10 day period and thereafter diligently prosecutes the same to completion; or
C. Tenant, Tenant's assignee, subtenant, guarantor, or occupant of the Premises becomes insolvent, makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is the subject of a bankruptcy petition, is adjudged bankrupt or insolvent in proceedings filed against Tenant, a receiver, trustee, or custodian is appointed for all or substantially all of Tenant's assets, fails to pay its debts as they become due, convenes a meeting of all or a portion of its creditors, or performs any acts of bankruptcy or insolvency, including the selling of its assets to pay creditors; or
D. Tenant has abandoned the Premises as defined in paragraph 16 above.
E. Tenant fails to take possession of the Premises within thirty (30) days after of receiving notice by Landlord that the provision of notice thereof from Landlord, Premises are available.
F. Tenant breaches or such longer period as may be reasonable otherwise defaults under the circumstances; or shorter period if required by applicable fire or safety codes; or if lease between Landlord and Tenant shall abandon, desert, vacate or remove from of the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate same date as this Lease together with all for the lease of the estate, right, and title thereby granted to or vested in Tenant by giving twenty approximately two hundred twenty-three thousand (20223,000) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all square foot portion of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access Building (Suite 101) adjacent to the Premises if Landlord determines that access to (the "Adjacent Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly").
Appears in 1 contract
BREACH BY TENANT. In 19.01 Tenant will be in “Default” under this Lease if at any time during the event that Tenant defaults in Lease Term (and regardless of the performance pendency of any bankruptcy, reorganization, receivership, insolvency or other proceedings in law, in equity or before any administrative tribunal which have or might have the effect of preventing Tenant from complying with the termsterms of this Lease):
A. Tenant fails to make payment of any installment of Base Monthly Rent or Additional Rent for Operating Costs or Real Property Taxes, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performedwhen due, and such default failure continues for five (5) Business Days after written notice thereof from Landlord; or
B. Tenant fails to make payment of any other amount of Rent due to Landlord hereunder when due, and such failure continues for ten (10) Business Days after written notice thereof from Landlord; or
C. Tenant fails to observe or perform any of its other covenants, agreements or obligations hereunder, and such failure is not corrected cured within thirty (30) days after Landlord’s written notice to Tenant of such failure; provided, however, that if the provision nature of notice thereof from LandlordTenant’s obligation is such that more than thirty (30) days are required for performance, then Tenant will not be in Default if Tenant commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion; or
D. Tenant becomes insolvent, makes a transfer for the benefit of its creditors, is the subject of a bankruptcy petition, is adjudged bankrupt or insolvent in proceedings filed against Tenant (unless, in the case of a petition filed against Tenant, the same is dismissed within ninety (90) days), a receiver, trustee, or such longer period as may be reasonable under the circumstancescustodian is appointed for all or substantially all of Tenant’s assets where possession is not restored to Tenant within ninety (90) days, or performs any acts of bankruptcy or insolvency; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, thenunless, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estateforegoing cases, right, Tenant causes all Rent to be paid as and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, when due under this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or no other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of Default under this Lease shall have occurred and be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlycontinuing.
Appears in 1 contract
Samples: Standard Industrial Lease (CDW Corp)
BREACH BY TENANT. In the event that Tenant defaults in the performance of any of the terms, provisions, covenants and agreements on the Tenant’s part to be kept, observed and performed, and such default is not corrected within thirty (30a) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate be in default hereunder if during the term (or remove from the Premises; or if any renewal term) of this Agreement:
(i) Tenant shall fail to pay when due and owing any amount due installment of rent or any other sums specified hereunder and such failure shall continue for more than five 30 days;
(5ii) Tenant shall fail to observe or perform any other covenant, agreement or obligation to be performed or observed by Tenant hereunder, and such failure shall not be cured within 30 days after Authority shall have given Tenant written notice thereof from Landlordspecifying the nature of Tenant’s default or delinquency or within such longer period of time following the delivery of that notice as is reasonably necessary to correct such failure if Tenant has instituted appropriate corrective action and is diligently pursuing the same;
(iii) Tenant’s interest in this Agreement shall be mortgaged, thenpledged, or otherwise encumbered or transferred, in whole or in part, voluntarily or involuntarily or by operation of law, or Tenant shall assign or sublet such eventinterest, Landlordin whole or in part, except as permitted by Section 7.02;
(iv) Tenant shall dissolve or sell all or substantially all of its assets except as permitted by Section 7.02;
(v) an Event of Bankruptcy shall occur with respect to Tenant;
(vi) Tenant shall abandon or vacate the Premises; or
(vii) Tenant shall default in the prompt and complete observance or performance of any covenant, agreement or obligation to be observed or performed by Tenant in accordance with any other lease or similar agreement with Authority, whether now existing or hereafter arising, and such default shall continue to exist after any applicable cure period therefor set forth in such lease or other agreement shall have expired.
(b) Upon the occurrence of an Event of Default by Tenant:
(i) (A) Authority shall have the right, at its option sole option, at the time Tenant shall be in default hereunder or at any time thereafterthereafter while such Event of Default shall continue, may give Tenant written notice of intention to terminate this Lease together with Agreement on a date specified in such notice, which date shall not be earlier than 10 days after such notice is given, and if all defaults have not been cured on the date so specified, Tenant’s rights to possession of the estate, rightPremises shall cease, and title thereby granted to with or vested in Tenant by giving twenty (20) days notice in writing of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such without re-entry by Xxxxxxxx Authority, this Agreement and anything the Term shall thereupon cease, and Authority may then re-enter and take possession of the Premises as of Authority’s former estate, and Tenant shall forthwith surrender possession of the Premises as provided in Section 7.06; provided that Tenant shall be, and shall remain, liable for all rent accrued hereunder to the contrary in date such termination becomes effective and for all other sums then owing by Tenant hereunder; and provided, further, that notwithstanding the termination of this agreementAgreement and the terms hereof or any re-entry by Authority upon such termination as provided above, the liability of Tenant shall nevertheless pay to Authority as liquidated damages for the rent provided for herein shall not be extinguished for default by Tenant the balance reasonable costs of alterations incurred by Authority in re-letting the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediatelyPremises, or the reasonable costs to suspend access Authority necessary to place the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the studentsin condition for re-letting, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises or other part thereof for the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to Landlord as soon as ascertained, the which costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunderto Authority immediately upon notice to Tenant that such alterations have been completed and the amount of such costs. Any rent, income, receipts, profits or other moneys received or derived by Authority from any re-renting or re-leasing or other use of the Premises after the termination hereof as provided above shall be the sole and exclusive property of Authority and Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlyhave no rights therein.
Appears in 1 contract
BREACH BY TENANT. In 19.01. Tenant will be in breach of this Lease if at any time during the event that Tenant defaults in term of this Lease (and regardless of the performance pendency of any bankruptcy, reorganization, receivership, insolvency or other proceedings in law, in equity or before any administrative tribunal which have or might have the effect of preventing Tenant from complying with the termsterms of this Lease):
A. Tenant fails to make payment of any installment of Base Monthly Rent, provisionsAdditional Rent, covenants and agreements on the Tenant’s part or of any other sum herein specified to be kept, observed and performedpaid by Tenant, and such default failure is not corrected cured within ten (10) days after Landlord's written notice to Tenant of such failure; or
B. Tenant fails to observe or perform any of its other covenants, agreements or obligations hereunder, and such failure is not cured within thirty (30) days after the provision of notice thereof from Landlord, or such longer period as may be reasonable under the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after 's written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, may terminate this Lease together with all of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing of such electionfailure; provided, by certified mail addressed to Tenant at however, that if the address specified in this Lease, and at the expiration of such (20) day period, this Lease and all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, shall have the right to determine on Xxxxxxxx’s behalf the existence of any default in performance or other breach or violation of the terms and conditions hereof on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation nature of Tenant's occupancy would jeopardize obligation is such that more than thirty (30)days are required for performance, then Tenant will not be in breach if Tenant commences performance within such thirty (30) day period and thereafter diligently prosecutes the health same to completion; or
C. Tenant, Tenant's assignee, subtenant, guarantor, or safety occupant of the studentsPremises becomes insolvent, staff or public. In makes a transfer in fraud of its creditors, makes a transfer for the event benefit of its creditors, is the subject of a default by Xxxxxxbankruptcy petition, Landlordwhich is not dismissed within sixty (60) days is adjudged bankrupt or insolvent in proceedings filed against Tenant, in addition a receiver, trustee, or custodian is appointed for all or substantially all of Tenant's assets, fails to other rights pay its debts as they become due, convenes a meeting of all or remedies that it may havea portion of its creditors, shall have or performs any acts of bankruptcy or insolvency, including the right selling of its assets to either terminate this Lease or from time to time, without terminating this Lease, enter and relet pay creditors; or
D. Tenant has abandoned the Premises or other part thereof for the account and as defined in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the PremisesParagraph 16. Tenant shall pay above without providing thirty (30) days prior written notice to Landlord as soon as ascertained, the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlyprovided therein.
E. [INTENTIONALLY OMITTED]
Appears in 1 contract
BREACH BY TENANT. In (a) If and whenever:
(i) the event that Tenant defaults in the performance rent hereby reserved or any pan thereof is not paid when due, or there is non-payment of any other sums which the Tenant is obligated to pay under the provisions hereof; or
(ii) the term hereby granted, or any goods, chattels or equipment of the termsTenant shall be taken or be eligible in execution or in attachment or if a Writ of Execution shall issue against the Tenant; or
(iii) the Tenant shall become insolvent or commit an act of bankruptcy or become bankrupt or take the benefit of any Act that may be in force for bankrupt or insolvent debtors or become involved in voluntary winding up proceedings or if a receiver shall be appointed for the property or affairs of the Tenant; or
(iv) the Tenant shall move or commence, attempt or threaten to move its goods, chattels, and equipment out of the Premises or shall abandon the Premises; or
(v) the Tenant shall not observe, perform and keep each and every of the covenants, agreements, provisions, covenants stipulations and agreements on conditions herein and in the said rules and regulations contained to be observed, performed and kept by the Tenant’s part ; then and in any of such cases, at the option of the Landlord, the full amount of the current month's and the next ensuing three (3) month's monthly rent shall immediately become due and payable and the Landlord may immediately disdain for same, together with any arrears then unpaid; and the Landlord may on fourteen (14) days' notice in writing to be keptthe Tenant forthwith re-enter upon and take possession of the Premises or any pan thereof in the name of the whole and remove and sell the Tenant's goods, observed chattels and performedequipment there from, any rule of law or equity to the contrary notwithstanding; and the Landlord may seize and sell such goods, chattels and equipment of the Tenant as are in the Premises as if they had remained and been disdained upon the Premises, and such default is not corrected within thirty (30) days after sale may be affected in the provision discretion of notice thereof from Landlordthe Landlord either by public auction or by private treaty, and either in bulk or by individual item, or such longer period partly by one means and partly by another, all as the Landlord in its entire discretion may decide.
(b) The Landlord shall be reasonable under entitled to or does re-enter, the circumstances; or shorter period if required by applicable fire or safety codes; or if Tenant shall abandon, desert, vacate or remove from the Premises; or if Tenant shall fail to pay any amount due hereunder for more than five (5) days after written notice thereof from Landlord, then, in such event, Landlord, at its option at any time thereafter, Landlord may terminate this Lease together with all by giving fourteen (14) days' notice thereof as aforesaid, and in such event the Tenant shall accordingly vacate and surrender the Premises.
(c) That on the Landlord's becoming entitled to re-enter upon the premises under any of the estate, right, and title thereby granted to or vested in Tenant by giving twenty (20) days notice in writing provisions of such election, by certified mail addressed to Tenant at the address specified in this Lease, and at the expiration of such (20) day period, this Lease and Landlord in addition to all of the estate, right, title and interest thereby granted to or vested in Tenant shall then cease and terminate, and Landlord may re-enter said Premises using such force as may be required. Notwithstanding such re-entry by Xxxxxxxx and anything to the contrary in this agreement, the liability of Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this Lease. The Manager of Landlord’s Property Management Office, if any, other rights shall have the right to determine on Xxxxxxxx’s behalf enter the existence premises as agent of the Tenant either by force or otherwise, without being liable for any prosecution there from, and to re-let the Premises as the agent of the Tenant and to receive the rent there from and as the agent of the Tenant to take possession of any default in performance furniture or other breach property on the Premises and to sell the same at public or violation private sale without notice and to apply the proceeds of such sale and any rent derived from re-letting the premises on account of the terms rent under this Lease, and conditions hereof the Tenant shall be liable to the Landlord for the deficiency, if any.
(d) That in the event it shall be necessary for the Landlord to retain the services of a solicitor or any other proper person or agency for the purpose of assisting the Landlord in enforcing any of its rights hereunder in the event of default on the part of Tenant. Notwithstanding anything to the contrary herein, Landlord has the right to terminate this Lease immediately, or to suspend access to the Premises if Landlord determines that access to the Premises or continuation of Tenant's occupancy would jeopardize the health or safety of the students, staff or public. In the event of a default by Xxxxxx, Landlord, in addition to other rights or remedies that it may have, shall have the right to either terminate this Lease or from time to time, without terminating this Lease, enter and relet the Premises Tenant or other part thereof for event described in subparagraph (a) of this paragraph 17, the account and in the name of Tenant or otherwise, for any such term or terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. Tenant shall pay to the Landlord as soon as ascertainedforthwith on demand, and shall indemnify and save harmless the costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs. Rentals received by Landlord from and against, any and all fees, disbursements and other charges whatsoever of such reletting solicitor or other person or agency (legal fees and disbursements to be paid by the Tenant on a solicitor and-his-own client basis).
(e) No reference to or exercise of any specific right or remedy by the Landlord shall prejudice or preclude the Landlord from any other remedy in respect thereof, whether allowed at law or equity or expressly provided for herein, No such remedy shall be applied: first, to exclusive or dependent upon any other such remedy but the payment of any indebtedness, other than rental, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Premises necessary to return the Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any of Tenant's property left on the Premises at the time of reletting; third, to the payment of rental due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rental received from time to time from exercise anyone or more of such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlyremedies independently or in combination.
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Samples: Residential Tenancy Lease Agreement
