Common use of Consequences of Default Clause in Contracts

Consequences of Default. If and whenever the Lessor is entitled to re-enter the demised premises, or does re-enter the demised premises, the Lessor may either terminate this Lease by giving written notice of termination to the Lessee, or by posting notice of termination in the demised premises, and in such event the Lessee will forthwith vacate and surrender the demised premises or alternatively, the Lessor may from time to time without terminating the Lessee's obligation under this Lease, make alterations and repairs considered by the Lessor necessary to facilitate a sub-letting and sub-let the demised premises or any part thereof as agent of the Lessee for such term or terms and at such rent or rents and upon such other terms and conditions as the Lessor in its reasonable discretion considers advisable. Upon each sub-letting all rent and other monies received by the Lessor from the sub-letting will be applied first to the payment of indebtedness other than rent due hereunder from the Lessee to the Lessor, second to the payment of costs of the alterations and repairs, and third to the payment of rent due and unpaid hereunder. The residue, if any, will be held by the Lessor and applied in payment of future rent as it becomes due and payable. If the rent received from the sub-letting during a month is less than the rent to be paid during that month by the Lessee, the Lessee will pay the deficiency to the Lessor, the deficiency will be calculated and paid monthly. No re-entry by the Lessor will be construed as an election on its part to terminate this Lease unless a written notice of that intention is given to the Lessee or posted as aforesaid. Despite a sub-letting without termination, the Lessor may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or terminates this Lease for any breach, the Lessee will pay to the Lessor on demand therefore:

Consequences of Default. 38 If and whenever the Lessor is entitled to re-enter the demised premises, or does re-enter the demised premises, the Lessor may either terminate this Lease by giving written notice of termination to the Lessee, or by posting notice of termination in the demised premises, and in such event the Lessee will forthwith vacate and surrender the demised premises or alternatively, the Lessor may from time to time without terminating the Lessee's obligation under this Lease, make alterations and repairs considered by the Lessor necessary to facilitate a sub-letting and sub-let the demised premises or any part thereof as agent of the Lessee for such term or terms and at such rent or rents and upon such other terms and conditions as the Lessor in its reasonable discretion considers advisable. Upon each sub-letting all rent and other monies received by the Lessor from the sub-letting will be applied first to the payment of indebtedness other than rent due hereunder from the Lessee to the Lessor, second to the payment of costs of the alterations and repairs, and third to the payment of rent due and unpaid hereunder. The residue, if any, will be held by the Lessor and applied in payment of future rent as it becomes due and payable. If the rent received from the sub-letting during a month is less than the rent to be paid during that month by the Lessee, the Lessee will pay the deficiency to the Lessor, the deficiency will be calculated and paid monthly. No re-entry by the Lessor will be construed as an election on its part to terminate this Lease unless a written notice of that intention is given to the Lessee or posted as aforesaid. Despite a sub-letting without termination, the Lessor may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or terminates this Lease for any breach, the Lessee will pay to the Lessor on demand therefore:

Consequences of Default. If an Event of Default shall occur: (a) All of the indebtedness secured hereby shall become and whenever be immediately due and payable at the Lessor is option of the Mortgagee, without notice or demand, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Mortgaged Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee shall be entitled to re-enter bid and purchase the demised premisesMortgaged Property and shall be entitled to apply the debt secured hereby, or does re-any portion thereof, in payment for the Mortgaged Property. (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control of the demised premisesMortgaged Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the Lessor may either terminate this Lease by giving written notice execution, cancellation or modification of termination leases, the making of repairs to the Lessee, Mortgaged Property and the execution or by posting notice termination of termination in contracts providing for the demised premises, and in such event the Lessee will forthwith vacate and surrender the demised premises management or alternatively, the Lessor may from time to time without terminating the Lessee's obligation under this Lease, make alterations and repairs considered by the Lessor necessary to facilitate a sub-letting and sub-let the demised premises or any part thereof as agent maintenance of the Lessee Mortgaged Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for such term or terms and at such rent or so managing the Mortgaged Property. All rents and upon such other terms and conditions as the Lessor in its reasonable discretion considers advisable. Upon each sub-letting all rent and other monies received by the Lessor from the sub-letting will collected pursuant to this paragraph shall be applied first to the payment costs of indebtedness other than rent due hereunder from taking control and managing the Lessee Mortgaged Property and collecting the rents, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the LessorMortgaged Property, second premiums on insurance policies, taxes, assessments and other charges on the Mortgaged Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or Landlord of the Mortgaged Property and then to the payment of costs sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the alterations Mortgaged Property and repairsshall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, and third to anyone claiming under or through Mortgagor, or anyone having an interest in the payment Mortgaged Property by reason of rent due and unpaid hereunder. The residue, if any, will be held anything done or left undone by the Lessor and applied in payment of future rent as it becomes due and payableMortgagee under this paragraph. If the rent received from rents of the sub-letting during Mortgaged Property are not sufficient to meet the costs of taking control of and managing the Mortgaged Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the rate provided in the Note. The entering upon and taking and maintaining of control of the Mortgaged Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a month secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Additional Property, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Additional Property may be situated and remove the same therefrom; (ii) take possession or control of the Additional Property and the premises on which it is less than located; (iii) require the rent Mortgagor to assemble all or any part of the Additional Property or records concerning the Additional Property and make such available to the Mortgagee at a place to be paid during that month designated by the LesseeMortgagee which is reasonably convenient to both parties; (iv) sell or otherwise dispose of all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any loss, damage or depreciation that may occur as a result thereof so long as the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Additional Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Lessee will pay the deficiency Mortgagee shall give to the Lessor, the deficiency will be calculated and paid monthly. No re-entry by the Lessor will be construed as an election on its part to terminate this Lease unless a Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agree is "reasonable notification" within the meaning of that intention Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Additional Property is given to the Lessee or posted as aforesaid. Despite a sub-letting without termination, the Lessor may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or terminates this Lease for any breach, the Lessee will pay to the Lessor on demand therefore:be made.

Consequences of Default. If and whenever the Lessor Tenant is entitled to re-enter the demised premises, or does re-enter the demised premisesin default under this Lease, the Lessor Landlord may either terminate this Lease and the Term by giving written notice of termination to the Lessee, Tenant or by posting notice of termination in the demised premisesLeased Premises, and in such event the Lessee Tenant will forthwith vacate and surrender the demised premises or alternativelyLeased Premises. Alternatively, the Lessor Landlord may from time to time without terminating the LesseeTenant's obligation obligations under this Lease, re-enter the Leased Premises, make alterations and repairs considered by the Lessor Landlord necessary to facilitate a sub-letting and sub-let the demised premises Leased Premises or any part thereof as agent of the Lessee Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Lessor Landlord in its reasonable sole discretion considers advisable. Upon each sub-letting subletting all rent and other monies received by the Lessor Landlord from the sub-letting will shall be applied first to the payment of indebtedness other than rent Rent due hereunder from the Lessee Tenant to the LessorLandlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and attorneys fees and the cost of alterations and repairs, and third to the payment of rent Rent due and unpaid hereunder. The residue, if any, will shall be held by the Lessor Landlord and applied in payment of future rent Rent as it becomes due and payable. , If the rent Rent received from the sub-letting subletting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the rent Rent to be paid during that month by the LesseeTenant, the Lessee Tenant will pay the deficiency to the Lessor, the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Lessor Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that intention termination is given to the Lessee Tenant or posted as aforesaid. Despite a sub-letting subletting without termination, the Lessor Landlord may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or Landlord so terminates this Lease for any breachLease, the Lessee will Tenant shall pay to the Lessor Landlord on demand thereforetherefor: (a) Basic Triple Net Rent and Additional Rent accrued due up to the time of re-entry or termination, whichever is later; (b) all costs payable by the Tenant pursuant to the provisions of this Lease up until the date of re-entry or termination, whichever is later; (c) such expenses as the Landlord may incur or has incurred in connection with re-entering or terminating and re-letting, or collecting sums due or payable by the Tenant or realizing upon assets seized including brokerage expenses, legal fees, receivership costs, unamortized improvement costs, and other disbursements determined on a full indemnity basis, and including the expense of keeping the Leased Premises in good order and repairing or maintaining the same or preparing the Leased Premises for re-letting; and (d) as liquidated damages for the loss of Rent and other income of the Landlord expected to be derived from this Lease during the period which would have constituted the unexpired portion of the Term had the Lease not been so terminated, the amount, if any, by which the rental value of the Leased Premises for such period established by reference to the terms and provisions of this Lease exceeds the rental value of the Leased Premises for such period established by reference to the terms and provisions upon which the Landlord relet them, if such re-letting is accomplished within a reasonable time after termination of this Lease, and otherwise with reference to all market and other relevant circumstances. Rental value is to be computed in each case by reducing to present worth at an assumed interest rate of ten percent (10%) per annum all Rent and other amounts to become payable for such period and where the ascertainment of amounts to become payable requires the same, the Landlord may make estimates and assumptions of fact which will govern unless shown to be unreasonable or erroneous; such obligations of the Tenant to survive the expiration of the Term. If any of the events described in Article 12.01 occur, and if Landlord chooses not to exercise, or by law is unable to exercise, its rights to terminate this Lease, then, in addition to any other Landlord's rights under this Lease or by law; i) Landlord will not be obligated to provide Tenant with any

Consequences of Default. If and whenever the Lessor Landlord is entitled to re-enter the demised premises, or does re-enter the demised premisesLeased Premises, the Lessor Landlord may either terminate this Lease and the Term by giving written notice of termination to the Lessee, Tenant or by posting notice of termination in the demised premisesLeased Premises, and in such event the Lessee Tenant will forthwith vacate and surrender the demised premises or alternativelyLeased Premises. Alternatively, the Lessor Landlord may from time to time without terminating the LesseeTenant's obligation obligations under this Lease, make alterations and repairs considered by the Lessor Landlord necessary to facilitate a sub-letting and sub-let the demised premises Leased Premises or any part thereof as agent of the Lessee Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Lessor Landlord in its reasonable sole discretion considers advisable. Upon each sub-letting subletting all rent and other monies received by the Lessor Landlord from the sub-letting will shall be applied first to the payment of indebtedness other than rent Rent due hereunder from the Lessee Tenant to the LessorLandlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of rent Rent due and unpaid hereunder. The residue, if any, will shall be held by the Lessor Landlord and applied in payment of future rent Rent as it becomes due and payable. If the rent Rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the rent Rent to be paid during that month by the LesseeTenant, the Lessee Tenant will pay the deficiency to the Lessor, the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Lessor Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that intention termination is given to the Lessee Tenant or posted as aforesaid. Despite a sub-letting subletting without termination, the Lessor Landlord may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or Landlord so terminates this Lease for any breachLease, the Lessee will Tenant shall pay to the Lessor Landlord on demand thereforetherefor: (a) Basic Rent and Additional Rent accrued due up to the time of re-entry or termination, whichever is later, plus the next three (3) months' Rent payable as Additional Rent as provided in Article 12.01; (b) all costs payable by the Tenant pursuant to the provisions of this Lease up until the date of re-entry or termination, whichever is later; (c) such expenses as the Landlord may incur or has incurred in connection with re-entering or terminating and re-letting, or collecting sums due or payable by the Tenant or realizing upon assets seized including brokage expenses, legal fees and disbursements determined on a full indemnity basis, and including the expense of keeping the Leased Premises in good order and repairing or maintaining the same or preparing the Leased Premises for re-letting; and (d) as liquidated damages for the loss of Rent and other income of the Landlord expected to be derived from this Lease during the period which would have constituted the unexpired portion of the Term had the Lease not been so terminated, the amount, if any, by which the rental value of the Lease Premises for such period established by reference to the terms and provisions of this Lease exceeds the rental value of the Leased Premises for such period established by reference to the terms and provisions upon which the Landlord relets them, if such re-letting is accomplished within a reasonable time after termination of this Lease, and otherwise with reference to all market and other relevant circumstances. Rental value is to be computed in each case by reducing to present worth at an assumed interest rate of ten percent (10%) per annum all Rent and other amounts to become payable for such period and where the ascertainment of amounts to become payable requires the same, the Landlord may make estimates and assumptions of fact which will govern unless shown to be unreasonable or erroneous; such obligations of the Tenant to survive the expiration of the Term.

Consequences of Default. If and whenever the Lessor Landlord is entitled to re-enter the demised premises, or does re-enter the demised premisesLeased Premises, the Lessor Landlord may either terminate this Lease and the Term by giving written notice of termination to the Lessee, Tenant or by posting notice of termination in the demised premisesLeased Premises, and in such event the Lessee Tenant will forthwith vacate and surrender the demised premises or alternativelyLeased Premises. Alternatively, the Lessor Landlord may from time to time without terminating the LesseeTenant's obligation obligations under this Lease, make alterations and repairs considered by the Lessor Landlord necessary to facilitate a sub-letting subletting and sub-let sublet the demised premises Leased Premises or any part thereof as agent of the Lessee Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Lessor Landlord in its reasonable sole discretion considers advisable. Upon each sub-letting subletting all rent and other monies received by the Lessor Landlord from the sub-letting will subletting shall be applied applied, first to the payment of indebtedness other than rent Rent due hereunder from the Lessee Tenant to the LessorLandlord, second to the payment of costs and expenses of the subletting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of rent Rent due and unpaid hereunder. The residue, if any, will shall be held by the Lessor Landlord and applied in payment of future rent Rent as it becomes due and payable. If the rent Rent received from the sub-letting subletting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the rent Rent to be paid during that month by the LesseeTenant, the Lessee Tenant will pay the deficiency to the Lessor, the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Lessor Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that intention termination is given to the Lessee Tenant or posted as aforesaid. Despite a sub-letting subletting without termination, the Lessor Landlord may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or Landlord so terminates this Lease for any breachLease, the Lessee will Tenant shall pay to the Lessor Landlord on demand thereforetherefor: .1 Basic Rent and Additional Rent accrued due up to the time of re-entry or termination, whichever is later, plus the next three (3) months Rent payable as Additional Rent as provided in Article 13.1; .2 all costs payable by the Tenant pursuant to the provisions of this Lease up until the date of re-entry or termination, whichever is later; .3 such expenses as the Landlord may incur or has incurred in connection with re-entering or terminating and re-letting, or collecting sums due or payable by the Tenant or realizing upon assets seized, including, without limitation, brokerage expenses, legal fees and disbursements determined on a full indemnity basis, and including the expense of keeping the Leased Premises in good order and repairing or maintaining the same or preparing the Leased Premises for re-letting; and .4 as liquidated damages for the loss of Rent and other income of the Landlord expected to be derived from this Lease during the period which would have constituted the unexpired portion of the Term had the Lease not been so terminated, the amount, if any, by which the rental value of the Leased Premises for such period established by reference to the terms and provisions of this Lease exceeds the rental value of the Leased Premises for such period established by reference to the terms and provisions upon which the Landlord re-lets them, if such re-letting is accomplished within a reasonable time after termination of this Lease, and otherwise with reference to all market and other relevant circumstances. Rental value is to be computed in each case by reducing to present worth at an assumed interest rate of ten percent (10%) per annum all Rent and other amounts to become payable for such period and where the ascertainment of amounts to become payable requires the same computation, the Landlord may make estimates and assumptions of fact which will govern unless shown to be unreasonable or erroneous; and all such obligations of the Tenant shall survive the expiration of the Term.

Consequences of Default. If and whenever the Lessor Landlord is entitled to re-enter the demised premises, or does re-enter the demised premisesLeased Premises, the Lessor Landlord may either terminate this Lease and the Term by giving written notice of termination to the Lessee, Tenant or by posting notice of termination in the demised premisesLeased Premises, and in such event the Lessee Tenant will forthwith vacate and surrender the demised premises or alternativelyLeased Premises. Alternatively, the Lessor Landlord may from time to time without terminating the Lessee's obligation Tenant’s obligations under this Lease, make alterations and repairs considered by the Lessor Landlord necessary to facilitate a sub-letting and sub-let the demised premises Leased Premises or any part thereof as agent of the Lessee Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Lessor Landlord in its reasonable sole discretion considers advisable. Upon each sub-letting subletting all rent and other monies received by the Lessor Landlord from the sub-letting will shall be applied first to the payment of indebtedness other than rent Rent due hereunder from the Lessee Tenant to the LessorLandlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of rent Rent due and unpaid hereunder. The residue, if any, will shall be held by the Lessor Landlord and applied in payment of future rent Rent as it becomes due and payable. If the rent Rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the rent Rent to be paid during that month by the LesseeTenant, the Lessee Tenant will pay the deficiency to the Lessor, the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Lessor Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that intention termination is given to the Lessee Tenant or posted as aforesaid. Despite a sub-letting subletting without termination, the Lessor Landlord may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or Landlord so terminates this Lease for any breachLease, the Lessee will Tenant shall pay to the Lessor Landlord on demand thereforetherefor: (a) Basic Rent and Additional Rent accrued due up to the time of re-entry or termination, whichever is later, plus the next three (3) months’ Rent payable as Additional Rent as provided in Article 12.01; (b) all costs payable by the Tenant pursuant to the provisions of this Lease up until the date of re-entry or termination, whichever is later; (c) such expenses as the Landlord may incur or has incurred in connection with re-entering or terminating and re-letting, or collecting sums due or payable by the Tenant or realizing upon assets seized including brokerage expenses, legal fees and disbursements determined on a full indemnity basis, and including the expense of keeping the Leased Premises in good order and repairing or maintaining the same or preparing the Leased Premises for re-letting; and (d) as liquidated damages for the loss of Rent and other income of the Landlord expected to be derived from this Lease during the period which would have constituted the unexpired portion of the Term had the Lease not been so terminated, the amount, if any, by which the rental value of the Leased Premises for such period established by reference to the terms and provisions of this Lease exceeds the rental value of the Leased Premises for such period established by reference to the terms and provisions upon which the Landlord relets them, if such re-letting is accomplished within a reasonable time after termination of this Lease, and otherwise with reference to all market and other relevant circumstances. Rental value is to be computed in each case by reducing to present worth at an assumed interest rate of ten percent (10%) per annum all Rent and other amounts to become payable for such period and where the ascertainment of amounts to become payable requires the same, the Landlord may make estimates and assumptions of fact which will govern unless shown to be unreasonable or erroneous; such obligations of the Tenant to survive the expiration of the Term.

Consequences of Default. If and whenever the Lessor Landlord is entitled to re-enter the demised premises, or does re-enter the demised premisesLeased Premises, the Lessor Landlord may either terminate this Lease and the Term by giving written notice of termination to the Lessee, Tenant or by posting notice of termination in the demised premisesLeased Premises, and in such event the Lessee Tenant will forthwith vacate and surrender the demised premises or alternativelyLeased Premises. Alternatively, the Lessor Landlord may from time to time without terminating the LesseeTenant's obligation obligations under this Lease, make alterations and repairs considered by the Lessor Landlord necessary to facilitate a sub-letting and sub-let the demised premises Leased Premises or any part thereof as agent of the Lessee Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Lessor Landlord in its reasonable sole discretion considers advisable. Upon each sub-letting subletting all rent and other monies received by the Lessor Landlord from the sub-letting will shall be applied first to the payment of indebtedness other than rent Rent due hereunder from the Lessee Tenant to the LessorLandlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of rent Rent due and unpaid hereunder. The residue, if any, will shall be held by the Lessor Landlord and applied in payment of future rent Rent as it becomes due and payable. If the rent Rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the rent Rent to be paid during that month by the LesseeTenant, the Lessee Tenant will pay the deficiency to the Lessor, the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Lessor Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that intention termination is given to the Lessee Tenant or posted as aforesaid. Despite a sub-letting subletting without termination, the Lessor Landlord may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or Landlord so terminates this Lease for any breachLease, the Lessee will Tenant shall pay to the Lessor Landlord on demand thereforetherefor: (a) Basic Rent and Additional Rent accrued due up to the time of re-entry or termination, whichever is later, plus the next three (3) months' Rent payable as Additional Rent as provided in Article 12.01; (b) all costs payable by the Tenant pursuant to the provisions of this Lease up until the date of re-entry or termination, whichever is later; (c) such expenses as the Landlord may incur or has incurred in connection with re-entering or terminating and re-letting, or collecting sums due or payable by the Tenant or realizing upon assets seized including brokerage expenses, legal fees and disbursements determined on a full indemnity basis, and including the expense of keeping the Leased Premises in good order and repairing or maintaining the same or preparing the Leased Premises for re-letting; and (d) as liquidated damages for the loss of Rent and other income of the Landlord expected to be derived from this Lease during the period which would have constituted the unexpired portion of the Term had the Lease not been so terminated, the amount, if any, by which the rental value of the Leased Premises for such period established by reference to the terms and provisions of this Lease exceeds the rental value of the Leased Premises for such period established by reference to the terms and provisions upon which the Landlord relets them, if such re-letting is accomplished within a reasonable time after termination of this Lease, and otherwise with reference to all market and other relevant circumstances. Rental value is to be computed in each case by reducing to present worth at an assumed interest rate of ten percent (10%) per annum all Rent and other amounts to become payable for such period and where the ascertainment of amounts to become payable requires the same, the Landlord may make estimates and assumptions of fact which will govern unless shown to be unreasonable or erroneous; such obligations of the Tenant to survive the expiration of the Term.

Consequences of Default. If and whenever the Lessor Landlord is entitled to re-enter the demised premises, or does re-enter the demised premisesLeased Premises, the Lessor Landlord may either terminate this Lease and the Term by giving written notice of termination to the Lessee, Tenant or by posting notice of termination in the demised premisesLeased Premises, and in such event the Lessee Tenant will forthwith vacate and surrender the demised premises or alternativelyLeased Premises. Alternatively, the Lessor Landlord may from time to time without terminating the LesseeTenant's obligation obligations under this Lease, make alterations and repairs considered by the Lessor Landlord necessary to facilitate a sub-letting and sub-let the demised premises Leased Premises or any part thereof as agent of the Lessee Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Lessor Landlord in its reasonable sole discretion considers advisable. Upon each sub-letting subletting all rent and other monies received by the Lessor Landlord from the sub-letting will shall be applied first to the payment of indebtedness other than rent Rent due hereunder from the Lessee Tenant to the LessorLandlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of rent Rent due and unpaid hereunder. The residue, if any, will shall be held by the Lessor Landlord and applied in payment of future rent Rent as it becomes due and payable. If the rent Rent received from the sub-letting subletting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the rent Rent to be paid during that month by the LesseeTenant, the Lessee Tenant will pay the deficiency to the Lessor, the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Lessor Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that intention termination is given to the Lessee Tenant or posted as aforesaid. Despite a sub-letting subletting without termination, the Lessor Landlord may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or Landlord so terminates this Lease for any breachLease, the Lessee will Tenant shall pay to the Lessor Landlord on demand thereforetherefor: (a) Basic Rent and Additional Rent accrued due up to the time of re-entry or termination, whichever is later, plus the next three (3) months' Rent payable as Additional Rent as provided in Article 12.01; (b) all costs payable by the Tenant pursuant to the provisions of this Lease up until the date of re-entry or termination, whichever is later; (c) such expenses as the Landlord may incur or has incurred in connection with re-entering or terminating and re-letting, or collecting sums due or payable by the Tenant or realizing upon assets seized including brokerage expenses, legal fees and disbursements determined on a full indemnity basis, and including the expense of keeping the Leased Premises in good order and repairing or maintaining the same or preparing the Leased Premises for re-letting; and (d) as liquidated damages for the loss of Rent and other income of the Landlord expected to be derived from this Lease during the period which would have constituted the unexpired portion of the Term had the Lease not been so terminated, the amount, if any, by which the rental value of the Leased Premises for such period established by reference to the terms and provisions of this Lease exceeds the rental value of the Leased Premises for such period established by reference to the terms and provisions upon which the Landlord relets them, if such re-letting is accomplished within a reasonable time after termination of this Lease, and otherwise with reference to all market and other relevant circumstances. Rental value is to be computed in each case by reducing to present worth at an assumed interest rate of ten percent (10%) per annum all Rent and other amounts to become payable for such period and where the ascertainment of amounts to become payable requires the same, the Landlord may make estimates and assumptions of fact which will govern unless shown to be unreasonable or erroneous; such obligations of the Tenant to survive the expiration of the Term.

Consequences of Default. If and whenever the Lessor Landlord is entitled to re-enter the demised premises, or does re-enter the demised premisesLeased Premises, the Lessor Landlord may either terminate this Lease and the Term by giving written notice of termination to the Lessee, Tenant or by posting notice of termination in the demised premisesLeased Premises, and in such event the Lessee Tenant will forthwith vacate and surrender the demised premises or alternativelyLeased Premises. Alternatively, the Lessor Landlord may from time to time without terminating the LesseeTenant's obligation obligations under this Lease, make alterations and repairs considered by the Lessor Landlord necessary to facilitate a sub-letting and sub-let the demised premises Leased Premises or any part thereof as agent of the Lessee Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Lessor Landlord in its reasonable sole discretion considers advisable. Upon each sub-letting subletting all rent and other monies received by the Lessor Landlord from the sub-letting will shall be applied first to the payment of indebtedness other than rent Rent due hereunder from the Lessee Tenant to the LessorLandlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of rent Rent due and unpaid hereunder. The residue, if any, will shall be held by the Lessor Landlord and applied in payment of future rent Rent as it becomes due and payable. If the rent Rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the rent Rent to be paid during that month by the LesseeTenant, the Lessee Tenant will pay the deficiency to the Lessor, the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Lessor Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that intention termination is given to the Lessee Tenant or posted as aforesaid. Despite a sub-letting subletting without termination, the Lessor Landlord may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or Landlord so terminates this Lease for any breachLease, the Lessee will Tenant shall pay to the Lessor Landlord on demand thereforetherefor:

Consequences of Default. If and whenever the Lessor University is entitled to re-enter the demised premisesDemised Premises, or does re-enter the demised premisesDemised Premises, the Lessor University may either terminate this Lease by giving written notice of termination to the LesseeTenant, or by posting notice of termination in the demised premisesDemised Premises, and in such event the Lessee Tenant will forthwith vacate and surrender the demised premises Demised Premises or alternatively, the Lessor University may from time to time without terminating the LesseeTenant's obligation obligations under this Lease, make alterations and repairs considered by the Lessor University necessary to facilitate a sub-letting and sub-let subplot the demised premises or any part thereof as agent of the Lessee Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Lessor University in its reasonable discretion considers advisable. Upon each sub-letting all rent and other monies received by the Lessor University from the sub-letting will be applied first to the payment of indebtedness other than rent due hereunder from the Lessee Tenant to the LessorUniversity, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors' fees and costs of the alterations and repairs, and third to the payment of rent due and unpaid hereunder. The residue, if any, will be held by the Lessor University and applied in payment of future rent as it becomes due and payable. If the rent received from the sub-letting during a month is less than the rent to be paid during that month by the Lessee, Tenant,. the Lessee Tenant will pay the deficiency to the Lessor, the University. The deficiency will be calculated and paid monthly. No re-entry by the Lessor University will be construed as an election on its part to terminate this Lease unless a written notice of that intention is given to the Lessee Tenant or posted as aforesaid. Despite a sub-letting without termination, the Lessor University may elect at any time to terminate this Lease lease for a previous breach. If the Lessor re-enters the premises or University terminates this Lease for any breach, the Lessee will pay such termination shall be without prejudice to the Lessor on demand therefore:University's right to recover from the Tenant for past, present and prospective damages.

Consequences of Default. If and whenever the Lessor Landlord is entitled to re-enter the demised premisesDemised Premises, or does re-enter the demised premisesDemised Premises, the Lessor Landlord may either terminate this Lease by giving written notice of termination to the LesseeTenant, or by posting notice of termination in the demised premisesDemised Premises, and in such event the Lessee Tenant will forthwith vacate and surrender the demised premises Demised Premises or alternatively, the Lessor Landlord may from time to time without terminating the LesseeTenant's obligation obligations under this Lease, make alterations and repairs considered by the Lessor Landlord necessary to facilitate a sub-letting and sub-let the demised premises Demised Premises or any part thereof as agent of the Lessee Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Lessor Landlord in its reasonable discretion considers advisable. Upon each sub-letting all rent Rent and other monies received by the Lessor Landlord from the sub-letting will be applied first to the payment of indebtedness other than rent Rent due hereunder from the Lessee Tenant to the LessorLandlord, second to the payment of costs and expenses of the alterations sub-letting including brokerage fees and solicitors' fees and costs of the alteration and repairs, and third to the payment of rent Rent due and unpaid hereunder. The residue, if any, will be held by the Lessor Landlord and applied in payment of future rent Rent as it becomes due and payable. If the rent Rent received from the sub-letting during a month is less than the rent Rent to be paid during that month by the LesseeTenant, the Lessee Tenant will pay the deficiency to the Lessor, the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Lessor Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that intention is given to the Lessee Tenant or posted as aforesaid. Despite a sub-letting without termination, the Lessor Landlord may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or Landlord terminates this Lease for any breach, the Lessee Tenant will pay to the Lessor Landlord on demand therefore:; a) both Basic Rent and Additional Rent, up to the time of re-entry or termination, whichever is later, plus accelerated Rent as provided for in this Lease; b) all reasonable costs payable by the Tenant pursuant to the provisions hereof up until the date of re-entry or termination, whichever is later; 20 13 c) such reasonable expenses as the Landlord may incur or has incurred in connection with re-entering or terminating and reletting, or collecting sums due or payable by the Tenant or realizing upon assets seized including brokerage expense, legal fees and disbursements and including the expense of keeping the Demised Premises in good order and repairing or maintaining the same or preparing the Demised Premises for re-leasing; and d) as liquidated damages for the loss of Rent and other income of the Landlord expected to be derived from this Lease during the period which would have constituted the unexpired portion of the Term had it not been terminated, the amount, if any, by which the rental value of the Demised Premises for such period established by reference to the terms and provisions of this Lease, exceeds the rental value of the Demised Premises for such period established by reference to the terms and provisions upon which the Landlord re-lets them, if such re-leasing is accomplished within a reasonable time after termination of this Lease, and otherwise with reference to all market and other relevant circumstances. Rental value is to be computed in each case by reducing the present worth at an assumed interest rate of 10% per cent per annum all Rent and other amounts to become payable for such period and where the ascertainment of amounts to become payable requires it, the Landlord may make estimates and assumptions of fact which will govern unless shown to be unreasonable or erroneous.

Consequences of Default. If an Event of Default shall occur: (a) All of the indebtedness secured hereby shall become and whenever be immediately due and payable at the Lessor is option of the Mortgagee, without notice or demand, which are hereby expressly waived, and the Mortgagee may proceed to foreclose this Mortgage and sell the Mortgaged Property or otherwise pursue any right or remedy herein or by law provided. At the foreclosure, Mortgagee shall be entitled to re-enter bid and purchase the demised premisesMortgaged Property and shall be entitled to apply the debt secured hereby, or does re-any portion thereof, in payment for the Mortgaged Property. (b) Irrespective of whether Mortgagee accelerates the maturity of all indebtedness secured hereby, or institutes foreclosure proceedings, Mortgagee shall be entitled to the appointment of a receiver to enter upon and take and maintain full control of the demised premisesMortgaged Property in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the Lessor may either terminate this Lease by giving written notice execution, cancellation or modification of termination leases, the making of repairs to the Lessee, Mortgaged Property and the execution or by posting notice termination of termination in contracts providing for the demised premises, and in such event the Lessee will forthwith vacate and surrender the demised premises management or alternatively, the Lessor may from time to time without terminating the Lessee's obligation under this Lease, make alterations and repairs considered by the Lessor necessary to facilitate a sub-letting and sub-let the demised premises or any part thereof as agent maintenance of the Lessee Mortgaged Property, all on such terms as are deemed appropriate to protect the security of this Mortgage. The receiver shall be entitled to a reasonable fee for such term or terms and at such rent or so managing the Mortgaged Property. All rents and upon such other terms and conditions as the Lessor in its reasonable discretion considers advisable. Upon each sub-letting all rent and other monies received by the Lessor from the sub-letting will collected pursuant to this paragraph shall be applied first to the payment costs of indebtedness other than rent due hereunder from taking control and managing the Lessee Mortgaged Property and collecting the rents, including but not limited to reasonable attorneys' fees, receiver's fees, premiums on receiver's bonds, costs of repair to the LessorMortgaged Property, second premiums on insurance policies, taxes, assessments and other charges on the Mortgaged Property, and the costs of discharging any liability or obligation of Mortgagor as lessor or Landlord of the Mortgaged Property and then to the payment of costs sums secured by this Mortgage. Mortgagee and the receiver shall have access to the books and records used in the operation and maintenance of the alterations Mortgaged Property and repairsshall be liable to account only for those rents actually received. Mortgagee shall not be liable to Mortgagor, and third to anyone claiming, under or through Mortgagor, or anyone having an interest in the payment Mortgaged Property by reason of rent due and unpaid hereunder. The residue, if any, will be held anything done or left undone by the Lessor and applied in payment of future rent as it becomes due and payableMortgagee under this paragraph. If the rent received from rents of the sub-letting during Mortgaged Property are not sufficient to meet the costs of taking control of and managing the Mortgaged Property and collecting the rents, Mortgagee may at its sole option advance funds to meet the costs. Any funds expended by Mortgagee for such purposes shall become indebtedness of Mortgagor to Mortgagee secured by this Mortgage. Such funds shall be payable on demand by Mortgagee and shall bear interest at the rate provided in the Note. The entering upon and taking and maintaining of control of the Mortgaged Property by the Mortgagee or the receiver and the application of the rents as provided herein shall not cure or waive any default hereunder or invalidate any other right or remedy of Mortgagee hereunder. (c) The Mortgagee shall, in addition to all other rights and remedies, have the rights and remedies of a month secured party under the Uniform Commercial Code, including without limitation, the right to take possession of the Additional Property, and for that purpose the Mortgagee may: (i) so far as the Mortgagor can give authority therefor, enter upon any premises on which the Additional Property may be situated and remove the same therefrom; (ii) take possession or control of the Additional Property and the premises on which it is less than located; (iii) require the rent Mortgagor to assemble all or any part of the Additional Property or records concerning the Additional Property and make such available to the Mortgagee at a place to be paid during that month designated by the LesseeMortgagee which is reasonably convenient to both parties; (iv) sell or otherwise dispose of all or any part of the inventory on any premises where then located without being liable to the Mortgagor on account of any loss, damage or depreciation that may occur as a result thereof so long as the Mortgagee shall act in a commercially reasonable manner; (v) use all trademarks, service marks, trade names, trade styles, logos, goodwill, trade secrets, franchises, licenses and patents which the Mortgagor now has or may hereafter acquire, including the right to use or license the use of said marks, names, styles, logos and goodwill in connection with the sale of goods or the rendering of services, in the conduct of service, advertising, promotion and the like; and (vi) lease or license third persons or entities for such purpose. Unless the Additional Property is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Lessee will pay the deficiency Mortgagee shall give to the Lessor, the deficiency will be calculated and paid monthly. No re-entry by the Lessor will be construed as an election on its part to terminate this Lease unless a Mortgagor at least thirty (30) days' prior written notice (which Mortgagor agree is "reasonable notification" within the meaning of that intention Section 9-504 of the Uniform Commercial Code of the State of South Carolina) of the time and place of any public sale or any other intended disposition of the Additional Property is given to the Lessee or posted as aforesaid. Despite a sub-letting without termination, the Lessor may elect at any time to terminate this Lease for a previous breach. If the Lessor re-enters the premises or terminates this Lease for any breach, the Lessee will pay to the Lessor on demand therefore:be made.