Common use of Damages Upon Default Clause in Contracts

Damages Upon Default. If Landlord elects to terminate this Lease by reason of an Event of Default, then, notwithstanding such termination, Tenant shall be liable for and shall pay to Landlord the sum of all rental and other indebtedness accrued to the date of such termination, plus, as damages, an amount equal to the then present value of the rental reserved hereunder (including, without limitation, Rent and all other charges under this Lease) for the remaining portion of the Term of this Lease (had such Term not been terminated by Landlord prior to the expiration of the Term of this Lease), less the then present value of the fair rental value of the Tenant Space for such period. In the event that Landlord elects to terminate this Lease by reason of any Event of Default, in lieu of exercising the rights of Landlord under the preceding paragraph of this Section 1.3, Landlord may instead hold Tenant liable for all rental and other indebtedness accrued to the date of such termination, plus such rental and other indebtedness as would otherwise have been required to be paid by Tenant to Landlord during the period following termination of the Term of this Lease measured from the date of such termination by Landlord until the expiration of the Term of this Lease (had Landlord not elected to terminate this Lease on account of such Event of Default) diminished by any net sums thereafter received by Landlord through reletting the Tenant Space during said period (after deducting expenses incurred by Landlord as provided in Section 1.5 below). Actions to collect amounts due by Tenant provided for in this paragraph of this Section 1.4 may be brought from time to time by Landlord during the aforesaid period, on one or more occasions, without the necessity of Landlord’s waiting until the expiration of such period, and in no event shall Tenant be entitled to any excess of rental (or rental plus other sums) obtained by reletting over and above the rental provided for in this Lease.

Damages Upon Default. If Landlord elects not to terminate this Lease by reason of an Event of Default, then, notwithstanding such termination, Tenant shall be liable for and shall pay to Landlord the sum of all rental and other indebtedness accrued to the date of such termination, plus, as damages, an amount equal to the then present value of the rental reserved hereunder (including, without limitation, Rent and all other charges under this Lease) for the remaining portion of the Term of this Lease (had such Term not been terminated by Landlord prior to the expiration of the Term of this Lease), less the then present value of the fair rental value of the Tenant Space for such period. In the event that Landlord elects to terminate this the Lease by reason of any Event of Default, in lieu of exercising the rights of Landlord under the preceding paragraph of this Section 1.3, Landlord may instead hold Tenant liable for all rental and other indebtedness accrued to the date of such termination, plus such rental and other indebtedness as would otherwise have been required to be paid by Tenant to Landlord during the period following termination of the Term of this Lease measured from the date of such termination by Landlord until the expiration of the Term of this Lease (had Landlord not elected to terminate this the Lease on account of such Event of Default) diminished by any net sums thereafter received by Landlord through reletting the Tenant Space during said period (after deducting expenses incurred by Landlord ), subject to Landlord’s duty to mitigate its damages, as provided set forth in Section 1.5 below)1.9 of this Exhibit “D”. Actions to collect amounts due by Tenant provided for in this paragraph of this Section 1.4 may be brought from time to time by Landlord during the aforesaid period, on one or more occasions, without the necessity of Landlord’s waiting until the expiration of such period, and in no event shall Tenant be entitled to any excess of rental (or rental plus other sums) obtained by reletting over and above the rental provided for in this Lease. If Landlord accelerates future payments under this Lease following an Event of Default, all rents and other amounts owing to Landlord shall be discounted to their present value using a discount factor of six percent (6%).

Damages Upon Default. If Landlord elects In case of any default, reentry, expiration and/or dispossess, by summary proceedings, or otherwise, pursuant to terminate this Lease by reason Section 14 Lessor shall (notwithstanding any other provisions of an Event of Defaultthis Lease), thenbe entitled, notwithstanding such terminationat its option, Tenant shall be liable for in addition to and shall pay without prejudice to Landlord the sum of all any other rights and remedies it may have hereunder or at law or in equity to recover from Lessee as damages, in addition to any unpaid Basic Annual Net Rent or additional rental and other indebtedness accrued to the date of such terminationre-entry, plus, as damagesexpiration and/or dispossess, an amount equal to the then present value of difference between the rental Basic Annual Net Rent and additional rent reserved hereunder (including, without limitation, Rent and all other charges under this Lease) for what would otherwise have been the remaining expired portion of the Term of this Lease lease term (had such Term re-entry, expiration and/or dispossess not been terminated by Landlord prior to the expiration of the Term of this Lease), less occurred) and the then present value of the fair and reasonable rental value of the Tenant Space demised premises for such periodunexpired portion of the lease term, both discounted at the rate of six (6%) per cent per annum to present worth. In Lessee shall be entitled to recover and receive the event that Landlord elects full amount of such damages at whatever time after such re-entry, expiration and/or dispossess it seeks to terminate this Lease recover the same. However, nothing herein contained shall limit or prejudice the right of Lessor to prove for and obtain as damages, by reason of any Event the default or other event or occurrence as a result of Defaultwhich such re-entry, in lieu of exercising the rights of Landlord under the preceding paragraph of this Section 1.3expiration and/or dispossess shall have occurred, Landlord may instead hold Tenant liable for all rental and other indebtedness accrued an amount equal to the date maximum amount allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such terminationdamages are to be proved, plus whether or not such rental and other indebtedness as would otherwise have been an amount be greater, equal to or less than the amount of the difference referred to above. If any reletting is for an amount greater than Lessee is required to pay hereunder such coverage shall be paid retained by Tenant to Landlord during the period following termination of the Term of this Lease measured from the date of such termination by Landlord until the expiration of the Term of this Lease (had Landlord Lessor and Lessee shall not elected to terminate this Lease on account of such Event of Default) diminished by any net sums thereafter received by Landlord through reletting the Tenant Space during said period (after deducting expenses incurred by Landlord as provided in Section 1.5 below). Actions to collect amounts due by Tenant provided for in this paragraph of this Section 1.4 may be brought from time to time by Landlord during the aforesaid period, on one or more occasions, without the necessity of Landlord’s waiting until the expiration of such period, and in no event shall Tenant be entitled to any excess portion of such overage. In determining the then fair and reasonable rental (or rental plus other sums) obtained by reletting over and above value of the demised premises, the rental provided realized upon any reletting, if such reletting shall be accomplished within a reasonable time after such re-entry, expiration and/or dispossess, shall be deemed prima facie to be such rental value. Lessee shall be entitled, in addition to the amount of such difference, to also recover such expenses as Lessor may incur in connection with such re-entry and/or dispossess and such reletting, such as legal expenses, attorneys' fees, brokerage and the costs and expenses incurred in connection therewith and in keeping the demises premises in good order and in preparing the same for in this Leasesuch reletting.

Damages Upon Default. If Landlord elects to terminate this Lease by reason of an Event of Default, then, notwithstanding such termination, Tenant shall be liable for and shall pay to Landlord the sum of all rental and other indebtedness accrued to the date of such termination, plus, as damages, an amount equal to the then present value of the rental reserved hereunder (including, without limitation, Rent and all other charges under this Lease) for the remaining portion of the Term of this Lease (had such Term not been terminated by Landlord prior to the expiration of the Term of this Lease), less the then present value of the fair rental value of the Tenant Space for such period, both discounted to present value at the Prime Rate then in effect. In the event that Landlord elects to terminate this Lease by reason of any Event of Default, in lieu of exercising the rights of Landlord under the preceding paragraph of this Section 1.3, Landlord may instead hold Tenant liable for all rental and other indebtedness accrued to the date of such termination, plus such rental and other indebtedness as would otherwise have been required to be paid by Tenant to Landlord during the period following termination of the Term of this Lease measured from the date of such termination by Landlord until the expiration of the Term of this Lease (had Landlord not elected to terminate this Lease on account of such Event of Default) diminished by any net sums thereafter received by Landlord through reletting the Tenant Space during said period (after deducting expenses incurred by Landlord as provided in Section 1.5 below). Actions to collect amounts due by Tenant provided for in this paragraph of this Section 1.4 1.3 may be brought from time to time by Landlord during the aforesaid period, on one or more occasions, without the necessity of Landlord’s 's waiting until the expiration of such period, and in no event shall Tenant be entitled to any excess of rental (or rental plus other sums) obtained by reletting over and above the rental provided for in this Lease.