Common use of DEFAULT AND ABANDONMENT Clause in Contracts

DEFAULT AND ABANDONMENT. If the Lessee defaults in any of its obligations hereunder and fails to correct said default within three days after written notice thereof from the Lessor, or, if such breach is not in payment of money, has not within said three-day period of time commenced substantial efforts to cure said breach and thereafter continued its efforts to cure said breach with due diligence, then the Lessor shall have the right to declare this agreement terminated and to re-enter and take immediate possession of the demised Premises, or, without in any way being obligated so to do, the Lessor may elect to retake possession of said Premises and rent the same for such rent and pursuant to such conditions as the Lessor believes best, making such changes and repairs as may be required, and giving credit for the amount of rent so received less all expenses for reletting, advertising, cleaning, removal or storage of Lessee's property, and repairs, and in such event, said Lessee shall be liable for the balance of the rent herein reserved until the expiration of the term of this lease. The Lessee shall pay unto the Lessor additional rent for late rent payments as to all rental payments not made on or before the fifth (5th) day of the month in which they are due, said additional rent to be five percent (5%) of the rent payment so delinquent for each month or fraction thereof that such payment is late. The parties agree that this late charge is reasonable liquidated damages taking into account the time spent by Lessor, its agents and employees because of such late rent payments, processing and accounting charges, and late charges that may be imposed on Lessor under the trust deed covering the Premises. In the event of a default by the Lessee in the performance of any of its duties and obligations hereunder, the Lessee shall pay all costs incurred by the Lessor in the

DEFAULT AND ABANDONMENT. If the Lessee defaults in any of its obligations hereunder and fails to correct said default within three days after written notice thereof from the Lessor, or, if such breach is not in payment of money, has not within said three-day period of time commenced substantial efforts to cure said breach and thereafter continued its efforts to cure said breach with due diligence, or, if the Lessee abandons the Premises, which shall be conclusively deemed to occur if Lessee makes no use of the Premises for five consecutive days during the term of this lease, then the Lessor shall have the right to declare this agreement terminated and to re-enter and take immediate possession of the demised Premises, or, without in any way being obligated so to do, the Lessor may elect to retake possession of said Premises and rent the same for such rent and pursuant to such conditions as the Lessor believes best, making such changes and repairs as may be required, and giving credit for the amount of rent so received less all expenses for reletting, advertising, cleaning, removal or storage of Lessee's property, and repairs, and in such event, said Lessee shall be liable for the balance of the rent herein reserved until the expiration of the term of this lease. The Lessee shall pay unto the Lessor additional rent for late rent payments as to all rental payments not made on or before the fifth (5th) day of the month in which they are due, said additional rent to be five percent one and three quarter (51 3/4%) percent of the rent payment so delinquent for each month or fraction thereof that such payment is late. The parties agree that this late charge is reasonable liquidated damages taking into account the time spent by Lessor, its agents and employees because of such late rent payments, processing and accounting charges, and late charges that may be imposed on Lessor under the trust deed covering the Premises. In the event of a default by the Lessee in the performance of any of its duties and obligations hereunder, the Lessee shall pay all costs incurred by the Lessor in thethe enforcement of the provisions of this lease (including this provision) as against said Lessee, said costs to include reasonable attorneys' fees whether or not litigation is commenced.

DEFAULT AND ABANDONMENT. If the Lessee defaults in any of its obligations hereunder and fails to correct said default within three ten days after written notice thereof from the Lessor, or, if such breach is not in payment of money, has not within said threeten-day period of time commenced substantial efforts to cure said breach and thereafter continued its efforts to cure said breach with due diligence, or, if the Lessee abandons the Premises, which shall be conclusively deemed to occur if Lessee makes no use of the Premises for fifteen consecutive days during the term of this lease (except in the case of causality to this Premises or any other reason not within the control of Lessee, in which case Lessor has no such right), then the Lessor shall have the right to declare this agreement terminated and to re-enter and take immediate possession of the demised Premises, or, without in any way being obligated so to do, the Lessor may elect to retake possession of said Premises and rent the same for such rent and pursuant to such conditions as the Lessor believes best, making such changes and repairs as may be required, and giving credit for the amount of rent so received less all expenses for reletting, advertising, cleaning, removal or storage of Lessee's property, and repairs, and in such event, said Lessee shall be liable for the balance of the rent herein reserved until the expiration of the term of this lease. The Lessee shall pay unto the Lessor additional rent for late rent payments as to all rental payments not made on or before the fifth (5th) day of the month in which they are due, said additional rent to be five percent (5%) of the rent payment so delinquent for each month or fraction thereof that such payment is late; however the Lessor shall give Lessee 24 hours notice before imposing said late fee. The parties agree that this late charge is reasonable liquidated damages taking into account the time spent by Lessor, its agents and employees because of such late rent payments, processing and accounting charges, and late charges that may be imposed on Lessor under the trust deed covering the Premises. In the event of a default by the Lessee in the performance of any of its duties and obligations hereunder, the Lessee shall pay all costs incurred by the Lessor in thethe enforcement of the provisions of this lease (including this provision) as against said Lessee, said costs to include reasonable attorneys' fees whether or not litigation is commenced.

DEFAULT AND ABANDONMENT. (a) If the Lessee defaults in shall at any time fail to pay when due any payment of its obligations hereunder rent or other sums provided for herein to be paid to Lessor, and fails to correct said default within three such failure continues uncured for a period of ten (10) days after the date that Lessee receives written notice thereof from the Lessor, oror if Lessee shall at any time fail to perform any of the covenants, terms, conditions or provisions of this Lease (other than the payment of rent or other sums), and such failure continues uncured for a period of thirty (30) days (or if such breach is failure cannot in payment of moneywith reasonable diligence be cured within thirty (30) days, has not within said three-day then such longer period of time commenced substantial efforts as may be reasonably necessary, provided that Lessee shall continuously use reasonable diligence in attempting to cure said breach and thereafter continued its efforts to cure said breach with due diligencesuch failure) after Lessor gives Lessee written notice of such failure, then or if Lessee shall assign or sublet without written approval of Lessor (unless such approval is not required by the terms of this Lease), Lessor shall have the right to declare this agreement terminated and to re-enter and take immediate possession any one or more of the demised Premisesfollowing described remedies, orin addition to all other rights and remedies provided at law or in equity: (i) Lessor may terminate this Lease, upon written notice to Lessee and all of Lessee's rights shall be forfeited and lapsed, as fully as if this Lease had expired by lapse of time. (ii) Lessor may terminate Lessee's right of possession (but not this Lease) and may repossess the Leased Premises by any lawful means, without further demand or notice any kind to Lessee and without terminating this Lease, in any way being obligated so which event Lessor will use reasonable efforts to do, the Lessor may elect to retake possession of said Premises and rent relet the same for the account of Lessee for such rent and pursuant upon such terms as shall be reasonably satisfactory to Lessor. For the purpose of such conditions as the Lessor believes best, making such changes and repairs as may be required, and giving credit for the amount of rent so received less all expenses for reletting, advertising, cleaning, removal Lessor is authorized to decorate or storage of Lessee's property, and to make any repairs, and changes alterations or additions in such event, said Lessee shall be liable for the balance of the rent herein reserved until the expiration of the term of this lease. The Lessee shall pay unto the Lessor additional rent for late rent payments as or to all rental payments not made on or before the fifth (5th) day of the month in which they are due, said additional rent to be five percent (5%) of the rent payment so delinquent for each month or fraction thereof that such payment is late. The parties agree that this late charge is reasonable liquidated damages taking into account the time spent by Lessor, its agents and employees because of such late rent payments, processing and accounting charges, and late charges Leased Premises that may be imposed reasonably necessary. Such reletting will not be construed as an election on the part of Lessor under the trust deed covering the Premises. In the event to terminate this Lease unless a written notice of a default such intention be given Lessee by the Lessee in the performance of any of its duties and obligations hereunder, the Lessee shall pay all costs incurred by the Lessor in theLessor.

DEFAULT AND ABANDONMENT. If The rent shall be due by the 1st day of each month. In the event Lessee defaults should fail to pay any one of the aforesaid installments of rent, or any part thereof, within five (5) days after same shall have become due or in the event Lessee should fail to perform or observe any of the covenants, agreements, terms or conditions herein made, assumed or agreed to by Lessee, or in the event Lessee abandons or vacates the Premises (it being agreed that an absence of Lessee from the Premises for five consecutive days after rentals have become delinquent shall create a conclusive presumption of abandonment), or should Lessee begin to remove furniture or any substantial portion of Lessee's personal property to the detriment of Lessor's lien, or should voluntary or involuntary bankruptcy proceedings be filed by or against Lessee, or should Lessee make an assignment for the benefit of creditors, then Lessee shall be ipso facto in default and, upon the occurrence of aforementioned events, Lessor may, at Lessor’s option (a) immediately forfeit this Lease and terminate the same and repossess the Premises, removing therefrom all goods and chattels not belonging thereto and expelling Lessee and any other person in possession thereof and holding Lessee liable for all accrued rent and for any and all damages caused by or thus arising from Lessee's breach; or (b) immediately repossess the Premises and re-let same for the account of Lessee, holding Lessee liable monthly for any deficiencies resulting for the residue of the term; or (c) may declare due and payable all unpaid rentals for the entire residue of the term; or (d) pursue any other right or remedy available in law or equity. All such rights and remedies are in addition to and not to the exclusion or exhaustion of any other rights, remedies or causes of action which Lessor may have including the right to collect past due rent and distraint, and the exercise or pursuit by Lessor of any of the rights, remedies or causes of action occurring hereunder shall not be in exhaustion or exclusion of any other right, remedies or causes of action Lessor might otherwise have. In the event Lessee abandons the Premises, nothing herein shall require Lessor to re-let same for Lessee's account and there shall be no duty to do so. The failure of Lessor to exercise the options herein available to Lessor in any one or more instances shall not be a waiver of its obligations hereunder the right to exercise such option for any future breach of the same or any other covenant, agreement or condition. Lessee does hereby waive any and fails all notices of eviction required by Louisiana Code of Civil Procedure 4701 as amended. In the event of seizure of furniture or other movable effects on the Premises belonging to correct said default within three days after written notice thereof from the LessorLessee, or, if such breach is not in payment of money, has not within said three-day period of time commenced substantial efforts to cure said breach and thereafter continued its efforts to cure said breach with due diligence, then the Lessee agrees that Lessor shall have the right to declare this agreement terminated sell any of the effects seized on the Premises, or elsewhere, by judicial or conventional sale, and at either public or private sale all at Lessor's option, and Lessee waives the benefit of appraisement. It is expressly agreed and stipulated that, if Lessor takes possession of the Premises or takes or accepts return of the keys thereto, or takes or accepts both possession and keys, Lessor may pursue the remedy provided in (b) above by notifying Lessee, at the time of or within a reasonable time before or after receipt of such keys or possession, in substance that Lessor intends to re-enter and take immediate possession of let the demised Premises, or, without in any way being obligated so to do, the Lessor may elect to retake possession of said Premises and rent the same for such rent and pursuant to such conditions as the Lessor believes best, making such changes and repairs as may be required, and giving credit for the amount of rent so received less all expenses for reletting, advertising, cleaning, removal or storage of Lessee's propertyaccount. If Lessee's whereabouts are unknown to Lessor, and repairs, and in such event, said Lessee notice by registered or certified mail to Lessee's last known address shall be liable for the balance of the rent herein reserved until the expiration of the term of this lease. The Lessee shall pay unto the Lessor additional rent for late rent payments as to all rental payments not made on or before the fifth (5th) day of the month in which they are due, said additional rent to be five percent (5%) of the rent payment so delinquent for each month or fraction thereof that such payment is late. The parties agree that this late charge is reasonable liquidated damages taking into account the time spent by Lessor, its agents and employees because of such late rent payments, processing and accounting charges, and late charges that may be imposed on Lessor under the trust deed covering the Premises. In the event of a default by the Lessee in the performance of any of its duties and obligations hereunder, the Lessee shall pay all costs incurred by the Lessor in thesufficient.

DEFAULT AND ABANDONMENT. (a) If the Lessee defaults in shall at any time fail to pay when due any payment of its obligations hereunder rent or other sums provided for herein to be paid to Lessor, and fails to correct said default within three such failure continues uncured for a period of ten (10) days after the date that Lessee receives written notice thereof from the Lessor, oror if Lessee shall at any time fail to perform any of the covenants, terms, conditions or provisions of this Lease (other than the payment of rent or other sums), and such failure continues uncured for a period of thirty (30) days (or if such breach is failure cannot in payment of moneywith reasonable diligence be cured within thirty (30) days, has not within said three-day then such longer period of time commenced substantial efforts as may be reasonably necessary, provided that Lessee shall continuously use reasonable diligence in attempting to cure said breach and thereafter continued its efforts to cure said breach with due diligencesuch failure) after Lessor gives Lessee written notice of such failure, then or if Lessee shall assign or sublet without written approval of Lessor (unless such approval is not required by the terms of this Lease), Lessor shall have the right to declare this agreement terminated and to re-enter and take immediate possession any one or more of the demised Premisesfollowing described remedies, orin addition to all other rights and remedies provided at law or in equity: (i) Lessor may terminate this Lease, upon written notice to Xxxxxx and all of Xxxxxx's rights shall be forfeited and lapsed, as fully as if this Lease had expired by lapse of time. (ii) Lessor may terminate Xxxxxx's right of possession (but not this Lease) and may repossess the Leased Premises by any lawful means, without further demand or notice of any kind to Lessee and without terminating this Lease, in any way being obligated so which event Lessor will use reasonable efforts to do, the Lessor may elect to retake possession of said Premises and rent relet the same for the account of Lessee for such rent and pursuant upon such terms as shall be reasonably satisfactory to Lessor. For the purpose of such conditions as the Lessor believes best, making such changes and repairs as may be required, and giving credit for the amount of rent so received less all expenses for reletting, advertising, cleaning, removal Lessor is authorized to decorate or storage of Lessee's property, and to make any repairs, and changes, alterations or additions in such event, said Lessee shall be liable for or to the balance of the rent herein reserved until the expiration of the term of this lease. The Lessee shall pay unto the Lessor additional rent for late rent payments as to all rental payments not made on or before the fifth (5th) day of the month in which they are due, said additional rent to be five percent (5%) of the rent payment so delinquent for each month or fraction thereof that such payment is late. The parties agree that this late charge is reasonable liquidated damages taking into account the time spent by Lessor, its agents and employees because of such late rent payments, processing and accounting charges, and late charges Leased Premises that may be imposed reasonably necessary. Such reletting will not be construed as an election on the part of Lessor under the trust deed covering the Premises. In the event to terminate this Lease unless a written notice of a default such intention be given Lessee by the Lessee in the performance of any of its duties and obligations hereunder, the Lessee shall pay all costs incurred by the Lessor in theXxxxxx.