Common use of Damages in the Event of Termination Clause in Contracts

Damages in the Event of Termination. Tenant acknowledges that the damages Landlord would incur in connection with terminating this Lease following an Event of Default would be difficult to estimate or ascertain. “Landlord Costs” as used in this Lease shall mean the following Landlord transaction costs pertaining to this Lease and nothing else: brokerage commissions paid to AREA and CBRE for this Lease, Landlord’s Share of the Architect’s Fees, Landlord’s 50% share of the costs of ADA Compliance Work, $468,173 (representing the first six months’ abated Gross Full Service Rent) (the “Abated Rent”), and the Tenant’s Allowance (without the Additional Allowance, the amortized cost of which is included in the Gross Full Service Rent) all as defined in the Workletter or Lease. In the event Landlord elects to terminate this Lease, Landlord may recover from Tenant as it sole monetary remedy following its election to terminate the Lease, liquidated damages equal to the sum of (i) the then remaining pro rata portion as of the effective date of such early Lease termination of the Landlord Costs computed by multiplying the total Landlord Costs by a fraction, the numerator of which is the number of remaining full calendar months of the initial Lease Term, and the denominator of which is 120; and (ii) a sum of money equal to the Gross Full Service Rent that would be payable under the Lease for the 18 full calendar months following the effective date of such early Lease termination, discounted to its net present value using a monthly amortization approach and a discount rate equal to seven percent (7%) per annum, which amount shall be immediately due and payable upon demand; provided however that if the effective date of such early Lease termination occurs during the last 18 months of the initial Lease Term, then the sum payable under this subsection (ii) shall be computed using only Gross Full Service Rent that would be payable under the Lease for the remaining full calendar months of the Term. For example, the liquidated damages payable under this section given an effective date of early Lease Termination during the 42nd month of the Term would be (i) 84/120ths of the total Landlord Costs, plus (ii) $1,483,946 (the aggregate Gross Full Service Rent payable under the Lease for months 43 – 60 (6 months at $85,264.17 per month and 12 months at $87,822.08 per month discounted to its net present value using 7% per annum). The terms “enter,” “entry,” “re-enter,” and “re-entry” are not limited to their technical meanings.

Damages in the Event of Termination. In the event of any termination of this Lease under the provisions of Subsection 17.1 hereof or if Landlord shall re-enter the demised premises under the provisions of Subsection 17.2 hereof or in the event of the termination of this Lease (or of re-entry) by or under any summary process or other proceeding or action or any provision of law, Tenant acknowledges will pay to Landlord as liquidated current damages sums equal to the aggregate of the minimum monthly rent and the additional rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the then current term; provided, however, that if Landlord shall re-let the damages demised premises during said period, Landlord would incur shall credit Tenant with the net rents received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses incurred or paid by Landlord in terminating this Lease or of re-entering the demised premises and of securing possession thereof, as well as the expenses of re-letting, including brokers' commissions and all other expenses properly chargeable in connection with terminating this Lease following an Event of Default would be difficult to estimate or ascertain. “Landlord Costs” as used in this Lease shall mean the following Landlord transaction costs pertaining to this Lease and nothing else: brokerage commissions paid to AREA and CBRE for this Lease, Landlord’s Share of the Architect’s Fees, Landlord’s 50% share of the costs of ADA Compliance Work, $468,173 (representing the first six months’ abated Gross Full Service Rent) (the “Abated Rent”), and the Tenant’s Allowance (without the Additional Allowance, the amortized cost of which is included in the Gross Full Service Rent) all as defined in the Workletter or Lease. In the event Landlord elects to terminate this Lease, Landlord may recover from Tenant as it sole monetary remedy following its election to terminate the Lease, liquidated damages equal to the sum of (i) the then remaining pro rata portion as of the effective date of such early Lease termination of the Landlord Costs computed by multiplying the total Landlord Costs by a fraction, the numerator of which is the number of remaining full calendar months of the initial Lease Term, and the denominator of which is 120; and (ii) a sum of money equal to the Gross Full Service Rent that would be payable under the Lease for the 18 full calendar months following the effective date of such early Lease termination, discounted to its net present value using a monthly amortization approach and a discount rate equal to seven percent (7%) per annum, which amount shall be immediately due and payable upon demand; provided however that if the effective date of such early Lease termination occurs during the last 18 months of the initial Lease Term, then the sum payable under this subsection (ii) shall be computed using only Gross Full Service Rent that would be payable under the Lease for the remaining full calendar months of the Term. For example, the liquidated damages payable under this section given an effective date of early Lease Termination during the 42nd month of the Term would be (i) 84/120ths of the total Landlord Costs, plus (ii) $1,483,946 (the aggregate Gross Full Service Rent payable under the Lease for months 43 – 60 (6 months at $85,264.17 per month and 12 months at $87,822.08 per month discounted to its net present value using 7% per annum). The terms “enter,” “entry,” “re-enter,” and “re-entry” are not limited to their technical meanings.letting. ------------------------------------------------------------------------------------------------------------------------

Damages in the Event of Termination. Tenant acknowledges that the damages Landlord would incur in connection with terminating this Lease following an Event of Default a default by Tenant would be difficult to estimate or ascertain. “Landlord Costs” as used in this Lease shall mean the following Landlord transaction costs pertaining to this Lease and nothing else: brokerage commissions paid to AREA and CBRE for this Lease, Landlord’s Share of the Architect’s Fees, Landlord’s 50% share of the costs of ADA Compliance Work, $468,173 (representing the first six months’ abated Gross Full Service Rent) (the “Abated Rent”), and the Tenant’s Allowance (without the Additional Allowance, the amortized cost of which is included in the Gross Full Service Rent) all as defined in the Workletter or Lease. In the event Landlord elects to terminate this Lease, Landlord may may, in addition to other remedies available at law or in equity, recover from Tenant Tenant, as it sole monetary remedy following its election to terminate the Leaseliquidated damages, liquidated damages an amount equal to the sum of the following: (i1) the then remaining pro rata portion all unpaid Rent that is payable by Tenant hereunder and that accrues as of the effective date of such early Lease termination of the Landlord Costs computed by multiplying the total Landlord Costs by a fraction, the numerator of which is the number of remaining full calendar months of the initial Lease Term, and the denominator of which is 120termination; and plus (ii2) a sum of money equal to the Gross Full Service entire amount of Rent that would be payable under the Lease for the 18 full calendar months lesser of the following the effective date of such early Lease termination, discounted to its net present value using a monthly amortization approach and a discount rate equal to seven percent (7%) per annumtwo periods, which amount shall be immediately due and payable upon demand; provided however that if demand but which shall be discounted to present value using a discount rate equal to the discount rate of the Federal Reserve Bank of Minneapolis as of the date of termination plus one percent (1%): (A) the one year period commencing upon the effective date of such early Lease termination, or (B) the period commencing upon the effective date of termination occurs during and ending upon the last 18 months original date of the initial Lease expiration of the Term, then . For purposes of calculating the sum payable under this subsection (ii) shall be computed using only Gross Full Service amount of Rent that would be payable under the this Lease for the remaining full calendar months of period succeeding the Term. For example, the liquidated damages payable under this section given an effective date of early Lease Termination termination, such Rent shall be computed on the basis of the average monthly amount of Rent accruing during the 42nd 24 month period immediately preceding the default to which such termination relates (exclusive of any months in which Tenant received "free" or abated rent concessions); provided, however, if the default occurs prior to the expiration of the Term would first 24 months of this Lease, then the Rent shall be (i) 84/120ths computed on the basis of the total Landlord Costs, plus average monthly amount of Rent accruing during all months preceding the month in which said default occurred (ii) $1,483,946 (exclusive of any months in which Tenant received "free" or abated rent concessions). Landlord's failure to relet the aggregate Gross Full Service Rent payable under the Lease for months 43 – 60 (6 months at $85,264.17 per month and 12 months at $87,822.08 per month discounted to its net present value using 7% per annum)Premises shall not affect Tenant's liability. The terms “"enter,” “" "entry,” “" "re-enter,” " and “"re-entry” " are not limited to their technical meanings.

Damages in the Event of Termination. Tenant acknowledges that the damages Landlord would incur in connection with terminating this Lease following an Event Upon termination of Default would be difficult to estimate or ascertain. “Landlord Costs” as used in this Lease shall mean the following Landlord transaction costs pertaining to this Lease and nothing else: brokerage commissions paid to AREA and CBRE for this Lease, Landlord’s Share , at its option, may elect to receive as damages the sum of: (1) the amount of the Architect’s Fees, Landlord’s 50% share of the costs of ADA Compliance Work, $468,173 (representing the first six months’ abated Gross Full Service Rent) (the “Abated Rent”), and the Tenant’s Allowance (without the Additional Allowance, the amortized cost of which is included in the Gross Full Service Rent) all as defined in the Workletter or Lease. In the event Landlord elects to terminate unpaid Rent owed by Tenant under this Lease, Landlord may recover from Tenant as it sole monetary remedy following its election to terminate the Lease, liquidated damages equal to the sum of (i) the then remaining pro rata portion Lease as of the effective date of such early Lease termination termination; (2) the Worth of the Landlord Costs computed by multiplying the total Landlord Costs by a fraction, the numerator of which is the number of remaining full calendar months of the initial Lease Term, and the denominator of which is 120; and (ii) a sum of money equal to the Gross Full Service unpaid Rent that would be payable have been owed by Tenant under the Lease for the 18 full calendar months following balance of the effective Lease Term after the date of such early termination minus the Worth of the then-present fair rental value of the Premises for the balance of the Lease Term after termination; and (3) all reasonable costs directly or indirectly incurred by Landlord relating to Tenant’s default and Landlord’s repossession of the Premises, discounted including, but not limited to: reasonable attorneys’ fees and legal costs; collection costs; interest at the Default Rate of Interest; repairs necessary to its net present value using put the Premises in the condition required hereunder; the unamortized balance of any Tenant Allowance paid to Tenant and the brokerage commissions incurred by Landlord related to the execution of this Lease prorated on a monthly amortization approach straight line basis plus interest at the Default Rate of Interest over the Term; and the unamortized portion of any abated/credited Rent prorated on a discount rate equal to seven percent (7%) per annum, which amount straight line basis over the Term plus interest at the Default Rate of Interest. Landlord shall be immediately due and payable upon demand; provided however that if the effective date of such early Lease termination occurs during the last 18 months of the initial Lease Term, then the sum payable entitled to recover damages under this subsection (ii) in addition to the damages collected in the event of reentry to the extent such damages do not duplicate Landlord’s recovery, and all such recoveries shall be computed using only Gross Full Service Rent that would be payable under subject to the Lease for the remaining full calendar months limitation of the Termdamages set forth herein. For example, the liquidated damages payable Tenant’s obligations under this section given an effective date subsection shall survive the expiration or earlier termination of early Lease Termination during this Lease. Landlord shall have no affirmative obligation to mitigate its damages in the 42nd month event of the Term would be (i) 84/120ths of the total Landlord Costs, plus (ii) $1,483,946 (the aggregate Gross Full Service Rent payable under the Lease for months 43 – 60 (6 months at $85,264.17 per month and 12 months at $87,822.08 per month discounted to its net present value using 7% per annum). The terms “enter,” “entry,” “re-enter,” and “re-entry” are not limited to their technical meaningsany default by Tenant.

Damages in the Event of Termination. Tenant acknowledges It is acknowledged that the ----------------------------------- damages that would be incurred by Landlord would incur in connection with terminating the termination of this Lease following an Event of Default a default by Tenant would be difficult to estimate or ascertain. “Landlord Costs” as used Notwithstanding any contrary provision herein, in this Lease shall mean the following Landlord transaction costs pertaining to this Lease and nothing else: brokerage commissions paid to AREA and CBRE for this Lease, Landlord’s Share of the Architect’s Fees, Landlord’s 50% share of the costs of ADA Compliance Work, $468,173 (representing the first six months’ abated Gross Full Service Rent) (the “Abated Rent”), and the Tenant’s Allowance (without the Additional Allowance, the amortized cost of which is included in the Gross Full Service Rent) all as defined in the Workletter or Lease. In the event Landlord elects to terminate this LeaseLease and re-enter and take possession of the Premises, Landlord may may, provided that any action to recover such damages pursuant to this Section 14.2(b) is commenced by Landlord within twelve (12) months following termination of this Lease pursuant to Section 14.1(a), in lieu of continuing to collect Rent from Tenant for the remainder of the Term under (a) above, recover from Tenant Tenant, as it sole monetary remedy following its election to terminate the Leaseliquidated damages, liquidated damages an amount equal to the sum of the following: (i) the all unpaid Rent that is then remaining pro rata portion as of the effective date of such early Lease termination of the Landlord Costs computed payable by multiplying the total Landlord Costs by a fraction, the numerator of which is the number of remaining full calendar months of the initial Lease Term, and the denominator of which is 120Tenant hereunder; and plus (ii) a sum of money equal to the Gross Full Service difference between the (A) entire amount of Rent that would be thereafter payable under the Lease and ending upon the original date of the expiration of the Term, less (B) the fair market rent for the Premises for the same period, which difference (if positive) shall be immediately due and payable upon demand but which shall be discounted to present value using a discount rate equal to the discount rate of the Federal Reserve Bank of Boston as of the date of calculation plus two percent (2%). For purposes of calculating the amount of Rent that would be payable under the Lease for any future period, the 18 full calendar months following the effective date of such early Lease termination, discounted to its net present value using a monthly amortization approach and a discount rate equal to seven percent (7%) per annum, which amount Base Rent shall be computed as provided in Section 4.1 and the Additional Rent component of the Rent shall be computed on the basis of the average monthly amount of Rent accruing during the twenty-four (24) month period immediately due and payable preceding the default to which such termination relates (exclusive of any months in which Tenant received abated rent or in which the tax parcel upon demandwhich the Land is situated was not fully assessed for the value of the Building); provided however that provided, however, if the effective date default occurs prior to the expiration of such early Lease termination occurs during the last 18 first twenty-four (24) months of the initial Lease TermLease, then the sum payable under this subsection (ii) Rent shall be computed using only Gross Full Service on the basis of the average monthly amount of Rent that would be payable under accruing during all months preceding the Lease month in which said default occurred (exclusive of any months in which Tenant received abated rent or in which the tax parcel upon which the Land is situated was not fully assessed for the remaining full calendar months value of the Term. For example, the liquidated damages payable under this section given an effective date of early Lease Termination during the 42nd month of the Term would be (i) 84/120ths of the total Landlord Costs, plus (ii) $1,483,946 (the aggregate Gross Full Service Rent payable under the Lease for months 43 – 60 (6 months at $85,264.17 per month and 12 months at $87,822.08 per month discounted to its net present value using 7% per annumBuilding). The terms “enter,” “entry,” “re-enter,” and “re-entry” are not limited to their technical meanings.

Damages in the Event of Termination. Landlord and Tenant acknowledges agree that the damages Landlord would incur in connection with terminating this Lease following an Event of Default would be difficult to estimate or ascertain. “Landlord Costs” as used in this Lease shall mean the following Landlord transaction costs pertaining to this Lease and nothing else: brokerage commissions paid to AREA and CBRE for this Lease, Landlord’s Share of the Architect’s Fees, Landlord’s 50% share of the costs of ADA Compliance Work, $468,173 (representing the first six months’ abated Gross Full Service Rent) (the “Abated Rent”), and the Tenant’s Allowance (without the Additional Allowance, the amortized cost of which is included in the Gross Full Service Rent) all as defined in the Workletter or Lease. In the event Landlord elects to terminate terminates this Lease, Landlord may recover from Tenant Tenant, as it sole monetary remedy following its election to terminate the Leaseliquidated damages, liquidated damages an amount equal to the sum of the following: (i) the then remaining pro rata portion all unpaid Rent that is due and payable as of the effective date of such early Lease termination of the Landlord Costs computed by multiplying the total Landlord Costs by a fraction, the numerator of which is the number of remaining full calendar months of the initial Lease Term, and the denominator of which is 120termination; and plus (ii) a sum of money equal to the Gross Full Service entire amount of Rent that would be payable under the Lease for the 18 full calendar months lesser of the following the effective date of such early Lease termination, discounted to its net present value using a monthly amortization approach and a discount rate equal to seven percent (7%) per annumtwo periods, which amount shall be immediately due and payable upon demand; provided however that if demand but which shall be discounted to present value using a discount rate equal to the discount rate of the Federal Reserve Bank of Minneapolis as of the date of termination plus one percent: (A) the one-year period commencing upon the effective date of such early Lease termination, or (B) the period commencing upon the effective date of termination occurs during and ending upon the last 18 months original date of the initial Lease expiration of the Term, then . For purposes of calculating the sum payable under this subsection (ii) shall be computed using only Gross Full Service amount of Rent that would be payable under the this Lease for the remaining full calendar period succeeding the effective date of termination, such Rent shall be computed on the basis of the average monthly amount of Rent accruing during the 24-month period immediately preceding the default to which such termination relates (exclusive of any months in which Tenant received "free" or abated rent concessions); provided, however, if the default occurs prior to the expiration of the first 24 months of the Term. For exampleLease, Rent shall be computed on the liquidated damages payable under this section given an effective date of early Lease Termination during the 42nd month basis of the Term would be average monthly amount of Rent accruing during all months preceding the month in which said default occurred (i) 84/120ths exclusive of any months in which Tenant received "free" or abated rent concessions). Landlord and Tenant agree that such sum is a reasonable estimation of the total damages Landlord Costswould incur in connection with terminating this Lease following an Event of Default, plus (ii) $1,483,946 (the aggregate Gross Full Service Rent payable under the Lease for months 43 – 60 (6 months at $85,264.17 per month and 12 months at $87,822.08 per month discounted to its net present value using 7% per annum). The terms “enter,” “entry,” “re-enter,” and “re-entry” are agree that such sum is not limited to their technical meaningsa penalty.