DEFAULT AND RE-ENTRY. Except for a default under the preceding paragraph for which immediate right of termination is given to Owner, if Tenant fails to pay any installment of rent when due (plus interest on past due amounts at the maximum legal rate from the date due) after 3 days written notice, or to perform any other covenant under this Lease within thirty (30) days after written notice from Owner stating the nature of the default, Owner may re-enter and take possession of Premises using all reasonable force to do so; provided, however, that if the nature of such default other than for non-payment of rent is such that the same cannot reasonably be cured within such thirty-day period, Tenant shall not be deemed to be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to completion. Notwithstanding such retaking of possession by Owner, Tenant's liability for the rent provided herein shall not be extinguished for the balance of the term of this Lease. Upon such re-entry, Owner may elect either (i) to terminate this Lease, in which event Tenant shall immediately pay to Owner a sum equal to that by which the then cash value of the total rent reserved under this Lease for the balance of the Lease Term exceeds the reasonable rental value of the Premises for the balance of the Lease Term plus costs incident to releasing the Premises including, but not limited to remodeling expenses, attorney's fees and real estate commissions; or (ii) without terminating this Lease, to relet all or any part of the Premises as the agent of and for the account of Tenant upon such terms and conditions as Owner may deem advisable, in which event the rents received on such reletting shall be applied first to the expenses of reletting and collection, including necessary renovation and alteration of Premises, reasonable attorney's fees and real estate commissions paid, and thereafter to payment of all sums due to or to become due Owner hereunder, and if a sufficient sum shall not be thus realized to pay such sums and other charges, Tenant shall pay Owner any deficiency monthly, and Owner may bring an action therefor as such monthly deficiency shall arise. In the event of any such retaking of possession of Premises by Owner as herein provided, Tenant shall remove all personal property located thereon and, upon failure to do so upon demand of Owner, Owner may, in addition to any other remedies allowed by law, remove and store the same in any such pla...
DEFAULT AND RE-ENTRY. This Lease is subject to the limitations that if, at any time during the lease term, an "Event of Default", as hereinafter defined, shall occur, then upon such event of default and the expiration of the period of time prescribed in any required notice and prior to Lessee's curing an existing default, Lessor shall, at its option without additional notice to Lessee and without prejudice to any other rights and remedies hereunder or by law, have the following rights and remedies:
a. Though Xxxxxx has abandoned the leased Premises, the Lease shall continue in effect unless Lessor elects to terminate Xxxxxx's right to possession by written notice. Lessor may enforce all its rights and remedies under the Lease, including the right to recover rent as it becomes due. In no event shall Lessor's acts of maintenance or preservation of the leased Premises be deemed to constitute a termination of Xxxxxx's right to possession. Lessor may take whatever actions provided herein, or as permitted by law, without terminating this Lease, and this Lease shall continue in full force and effect until and only if Lessor gives to Lessee written notice of its election to terminate this Lease.
x. Xxxxxx may elect, by written notice to Xxxxxx, to terminate this Lease at any time after the occurrence of an event of default; and, in such event Lessor may, at its option declare this Lease and Xxxxxx's right to possession terminated, and Lessor shall be entitled to the right to re-enter and take immediate possession of said Xxxxxxxx and every part thereof. If re-entry is made after abandonment by Xxxxxx, Lessor may consider any property belonging to Xxxxxx and left on the Premises to have been abandoned. Lessor may utilize or dispose of such property without liability. Any such re-entry shall be permitted by Lessee without hindrance; and Lessor shall not thereby be liable in damage for such re-entry or be guilty of trespass or forcible entry.
c. In the event Lessor elects to terminate this Lease and Xxxxxx's right to possession in accordance with subparagraph (b), or the same are terminated by operation of law, Lessor may recover as damages from Lessee the following:
i) The worth at the time of the award of the unpaid rent and other sums which are due hereunder which had been earned at the time of termination of this Lease;
ii) The worth at the time of the award of the amount by which the unpaid rent which would have been earned after the date of termination of this Lease until the time o...
DEFAULT AND RE-ENTRY. If any rents reserved, or other obligations provided herein, or any part thereof, shall be and remain unpaid when the same shall become due, or if Tenant shall violate or default in any of the covenants and agreements herein contained, then the Lessor may cancel this lease upon giving the notice required bylaw, and re-enter said Premises, using such force as may be required. Notwithstanding such re-entry by the lessor, the liability of the Tenant for the rent provided for herein shall not be extinguished for the balance of the term of this lease, and Tenant covenants and agrees to make good to the Lessor any deficiency arising from a re-entry and reletting of the Premises at a lesser rental than agreed to herein. Lessor shall have the right to declare the entire balance of the rent for the remainder of the term of this lease to be due and payable immediately, and upon demand Tenant shall pay to Landlord the net present value of such rent (using a discount rate that is one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the Premises) or otherwise calculated by Landlord in any manner not inconsistent with applicable law. Accelerated payments payable under this lease shall not constitute a penalty or forfeiture or liquidated damages, but shall merely constitute payment of rent in advance. In the event it becomes reasonably necessary to make any changes, alterations or additions to the Premises or any part thereof for the purpose of reletting said Premises or any part thereof, Tenant shall be responsible for such cost.
DEFAULT AND RE-ENTRY. If Lessee fails to pay rent when due; if Lessee fails to perform any other obligations under this agreement within ten (10) days after receiving written notice of the default from Lessor; if Lessee makes any assignment for the benefit of creditors or a receiver is appointed for Lessee or its property; or if any proceedings are instituted by or against Lessee for bankruptcy (including reorganization) or under any insolvency laws, Lessor may terminate this Lease, re-enter the Premises, and seek to relet the Premises on terms set by Lessor in its sole discretion. Notwithstanding re-entry by Lessor, Lessee shall continue to be liable to Lessor for rent owed under this Lease and for any rent deficiency that results from reletting the Premises during the term of this Lease. Notwithstanding any reletting without termination, Lessor may at any time elect to terminate this Lease for any default by Lessee by giving Lessee written notice of the termination. In addition to Lessor’s other rights and remedies as stated in this Lease, and without waiving any of those rights, or if Lessee defaults in the performance of any of its obligations under this Lease, Lessor may cure defaults and shall not be responsible to Lessee for any loss or damage that is caused by that action. Lessee shall pay to Lessor, upon demand, the Lessor’s costs for curing any defaults, as additional rent under this lease.
DEFAULT AND RE-ENTRY. If Lessee shall fail to keep and perform any of the covenants and agreements herein contained and such failure continues for thirty (30) days after Lessee receives written notice from Lessor, unless appropriate action has been taken by Lessee in good faith to cure such failure, Lessor may immediately terminate this Lease and re-enter the Premises.
DEFAULT AND RE-ENTRY. If Lessee shall violate or default in any of the covenants and agreements herein contained, or if the Leasehold interest of the Lessee shall be attached or levied on under execution; or if a petition is filed by Lessee for an arrangement with their creditors under Chapter 11 of the Bankruptcy Act; or if the Lessee shall be declared bankrupt or insolvent according to law; or if any assignment of the Lessee’s property shall be made for the benefit of creditors, or otherwise, then the Lessor may cancel this Lease upon giving the notice required by law and re-enter the Building and take possession thereof.
DEFAULT AND RE-ENTRY. Tenant shall be in default if it fails to pay any installment of rent when due after Landlord gives Tenant and Guarantor ten (10) days prior written notice of such failure to pay and opportunity to cure within such ten (10) days. Tenant shall also be in default if it fails to perform any other obligation under this Lease after Landlord gives Tenant and Guarantor thirty (30) days prior written notice and opportunity to cure; provided if Tenant commences to cure within the thirty (30) day period, but is unable to complete the cure within the thirty (30) day period, and if Tenant continues to proceed diligently to effect the cure, the thirty (30) day period shall be extended for such time as is necessary to reasonably allow Tenant to complete its cure of the default.
DEFAULT AND RE-ENTRY. 8 16. REMOVAL OF PROPERTY AND REPLACEMENT OF NON-STANDARD ITEMS................................................................. 9 17.
DEFAULT AND RE-ENTRY. If Lessee shall fail to keep and perform any of the covenants and agreements herein contained, other than the payment of rent, and such failure continues for thirty (30) days after written notice from Lessor, unless appropriate action has been taken by Lessee in good faith to cure such failure, Lessor may terminate the Lease and re-enter the premises, or Lessor may, without terminating this Lease, re-enter said premises, and sublet the whole or any part thereof for the account of the Lessee upon as favorable terms and conditions as the market will allow for the balance of the term of this Lease, and Lessee covenants and agrees to pay to Lessor any deficiency arising from a re-letting of the premises at a lesser amount than herein agreed to. Lessee shall pay such deficiency each month as the amount thereof is ascertained by Lessor. However, the ability of Lessor to re-enter and sublet shall not impose upon Lessor the obligation to do so.
DEFAULT AND RE-ENTRY. If:
(a) the Tenant is in default in the payment of rent or amounts payable as rent under this lease, and such default continues for a period of thirty (30) days after the rent has become due and payable; or
(b) the Tenant is in default of any of its covenants or agreements under this lease (other than its covenant to pay rent or amounts payable as rent) and such default continues for a period of thirty (30) days (or such longer period as may be reasonably necessary to cure such default considering its nature) after notice by the City to the Tenant specifying with reasonable particularity the nature of such default and requiring the same to be remedied; or
(c) the default set out in the notice given to the Tenant by the City under subsection (b) reasonably requires more time to cure than the thirty (30) day period referred to in that subsection and the Tenant has not commenced remedying or curing the same within the thirty (30) day period or, in the opinion of the City fails to diligently complete the same within a reasonable time; then the balance of rent owing under this lease shall immediately become due and payable, and at the option of the City the Term shall become forfeited and void, and the City may forthwith re- enter upon the Premises or any part thereof in the name of the whole and repossess and enjoy the same as of its former estate, anything contained in any statute or law to the contrary notwithstanding. Forfeiture of this lease by the Tenant shall be wholly without prejudice to the right of the City to recover arrears of rent or damages for any antecedent breach of covenant on the part of the Tenant.
