DEFAULT BY TENANT AND REMEDIES. 17.1 The following events shall be deemed to be events of default by Tenant under this lease: (a) Tenant shall fail to pay any installment of rent or any other obligation herein involving the payment of money and such failure shall continue for a period of five (5) days after the date due. (b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than as described in subsection (a) above, and shall not cure such failure within fifteen (15) days after written notice thereof to Tenant. (c) Tenant or any guarantor of Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition for relief under any chapter of the Bankruptcy Code, as amended, or any similar law, or if such a petition shall be filed against Tenant or any guarantor of Tenant's obligations under this lease. (e) A receiver or Trustee shall be appointed for the demised premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this Lease. (f) Tenant shall desert or vacate or shall commence to desert or vacate the demised premises or any substantial portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the premises. 17.2 A Security Deposit specified in Article I, Section 1.1 (m) shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease. 17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue the following remedy:

Appears in 2 contracts

Samples: Shopping Center Lease, Shopping Center Lease

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 22.1 The following events shall be deemed to be events of default by Tenant under this lease: (a) Tenant shall fail to pay any installment of ~~rent~~ rental or any other obligation ~~herein~~ under this lease involving the payment of money and such failure shall continue for a period of ~~five~~ ten (510) days after such payment shall become due and payable after written notice thereof to Tenant; provided, however, that for each calendar year during which Landlord has already given Tenant one (1) written notice of the ~~date~~ failure to pay an installment of rental, no further notice shall be required (i.e., the event of default will automatically occur on the tenth (10th) day after the day upon which the rental was due; and provided further that any such notice shall be in lieu of, and not in addition to, any notice required under Section 1161, ET SEQ., of the California Code of Civil Procedure). (b) Tenant shall fail to comply with any ~~term,~~ provision ~~or covenant~~ of this ~~Lease~~lease, other than as described in subsection (a) above, and either shall not cure such failure within fifteen (15) days after written notice thereof to Tenant, or shall cure that particular failure but shall again fail to comply with the same provision of this lease within three (3) months after Landlord's written notice; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under Section 1161 ET SEQ. of the California Code of Civil Procedure; provided further, however, that if the noticed failure cannot reasonably be cured within fifteen (15) days, Tenant shall not be deemed in default hereunder if Tenant commences to cure the default within such fifteen (15) day period, and thereafter diligently prosecutes such cure to completion. (c) Tenant or any guarantor of Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition ~~for relief~~ under any section or chapter of the federal Bankruptcy Code, as amended, or under any similar ~~law,~~ law or ~~if such a petition~~ statue of the United States or any state thereof; or Tenant or any guarantor of Tenant's obligations under this lease shall be adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's obligations under this ~~lease~~lease thereunder. (e) A receiver or Trustee shall be appointed for the ~~demised premises~~ Demised Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this ~~Lease~~lease. (f) Tenant shall desert or vacate or shall commence to desert or vacate the ~~demised premises~~ Demised Premises or any substantial portion of the ~~demised premises~~ Demised Premises or at any time prior to the last month of the lease term shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial ~~value~~ amount of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Demised Premises or upon all or any part of the Industrial Complex. ~~17.2 A Security Deposit~~ (h) Any transfer of a substantial portion of the assets of Tenant, or any incurrence of a material obligation by Tenant, unless such transfer or obligation is undertaken or incurred in the ordinary course of Tenant's business or in good faith for equivalent consideration, or with Landlord's consent. (i) The default of any guarantors of Tenant's obligations hereunder under any guaranty of this Lease, or the attempted repudiation or revocation of any such guaranty. 22.2 Upon the occurrence of any such event of default, Landlord shall have the option to pursue any one or more of the following remedies to the extent permitted by law: (a) Without any further notice or demand whatsoever, Tenant shall be obligated to reimburse Landlord for the damages suffered by Landlord as a result of the event of default, plus interest on such amount at the maximum contractual rate which could legally be charged in the event of a loan of such amount to Tenant (but in no event to exceed 1-1/2% per month); and Landlord may pursue a monetary recovery from Tenant. (b) Without any further notice or demand whatsoever, Landlord may take any one or more of the actions permissible at law to insure performance by Tenant of Tenant's covenants and obligations under this lease. In this regard, and without limiting the generality of the immediately preceding sentence, it is agreed that if Tenant fails to open for business as required in this lease or, having opened for business, deserts or vacates the Demised Premises, Landlord may enter upon and take possession of such premises in order to protect them from deterioration and continue to demand from Tenant the monthly rentals and other charges provided in this lease, without any obligation to relet; however, if Landlord does, at its sole discretion, elect to relet the Demised Premises, such action by Landlord shall not be deemed as an acceptance of Tenant's surrender of the Demised Premises unless Landlord expressly notifies Tenant of such acceptance in writing pursuant to this subsection (b), Tenant hereby acknowledging that Landlord shall otherwise be reletting as Tenant's agent and Tenant furthermore hereby agreeing to pay to Landlord on demand any deficiency that may arise between the monthly rentals and other charges provided in this lease and that actually collected by Landlord. In the event that Landlord shall elect to relet, then rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness (other than rent) due hereunder from Tenant to Landlord; second, to the payment of any cost of such reletting (including brokerage commissions); third, to the payment of the cost of any alterations and repairs to the Demised Premises; fourth, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. Should reletting, during any month to which such rent is applied, result in the actual payment of rentals at less than the rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord immediately upon demand therefor by Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting. Finally, it is agreed that in the event of any default described in subsection (g) of Section 22.1 of this lease, Landlord may pay or bond around such lien, whether or not contested by Tenant; and in such event Tenant agrees to reimburse Landlord on demand for all costs and expenses incurred in connection with any such action, with Tenant further agreeing that Landlord shall in no event be liable for any damages or claims resulting from such action. No action or inaction by Landlord including, without limitation, the re-entry or taking of possession of the Demised Premises by Landlord pursuant to this Section 22.2(b) shall be construed as an election to terminate this lease or as interference with Tenant's rights of possession, assignment or subletting unless a written notice of such election shall be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any reletting without termination by Landlord, Landlord may, at any time after such reletting, elect to terminate this lease for any such default. (c) Landlord may terminate this lease by written notice to Tenant, in which event Tenant shall immediately surrender the Demised Premises to Landlord. In the event that Landlord shall elect to so terminate this lease, then Landlord may recover from Tenant: (i) The worth at the time of award of any unpaid rent which had been earned at the time of such termination; plus (ii) The worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves reasonably could have been avoided; plus (iii) The worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant proves reasonably could be avoided; plus (iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's failure to perform its obligations under this lease or which in the ordinary course would be likely to result therefrom, plus (v) At Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable California law. As used in subparagraphs (i) and (ii) above, the "worth at the time of award" is computed by allowing interest at the maximum rate permitted by law. As used in subparagraph (iii) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). Forbearance by Landlord to enforce one or more of the remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of such default. Tenant hereby waives for Tenant and for all those claiming under Tenant all right now or hereafter existing to redeem by order or judgment of any court or by any legal process or writ, Tenant's right of occupancy of the Demised Premises after any termination of this lease. (d) In addition to all other rights and remedies provided Landlord in this lease and by law, Landlord shall have the remedy described in California Civil Code Section 1951.4 (Landlord may continue the lease in effect after Tenant's breach and abandonment and recover rent as it becomes due if Tenant has the right to sublet or assign the lease, subject to reasonable limitations). 22.3 It is expressly agreed that in determining "the unpaid rent" as that term is used throughout subsections 22.2(c)(i) and 22.2(c)(ii) above, there shall be added to the minimum guaranteed rental (as specified in Sections 1.1(l) and 4.1 of this lease) a sum equal to the charges for maintenance of the Common Area (as specified in Section 7.4 of this lease), and the payments for taxes, charges and insurance (as specified in Article I6 of this lease). 22.4 It is further agreed that, in addition to payments required pursuant to subsections 22.2(b) and 22.2(c) above, Tenant shall compensate Landlord for all expenses incurred by Landlord in repossession (including, among other expenses, any increase in insurance premiums caused by the vacancy of the Demised Premises), all expenses incurred by Landlord in reletting (including, among other expenses, repairs, remodeling, replacements, advertisements and brokerage fees), all concessions granted to a new tenant upon reletting (including, among other concessions, renewal options), all losses incurred by Landlord as a direct or indirect result of Tenant's default (including, among other losses, any adverse reaction by Landlord's mortgagee or by other tenants or potential tenants of the Industrial Complex) and a reasonable allowance for Landlord's administrative efforts, salaries and overhead attributable directly or indirectly to Tenant's default and Landlord's pursuing the rights and remedies provided herein and under applicable law. 22.5 Landlord may restrain or enjoin any breach or threatened breach of any covenant, duty or obligation of Tenant herein contained without the necessity of proving the inadequacy of any legal remedy or irreparable harm. The remedies of Landlord hereunder shall be deemed cumulative and not exclusive of each other. 22.6 If on account of any breach or default by Tenant in its obligations hereunder, Landlord shall employ an attorney to present, enforce or defend any of Landlord's rights or remedies hereunder, Tenant agrees to pay any reasonable attorneys' fees incurred by Landlord in such connection. 22.7 Tenant acknowledges its obligation to deposit with Landlord the sum stated in Section ~~1.1 (m~~1.1(n) ~~shall~~ above, to be held by Landlord without interest as security for the performance by ~~Xxxxxx’s~~ Tenant of Tenant's covenants and obligations under this ~~Lease, it being expressly understood~~ lease. Tenant agrees that such deposit may be commingled with Landlord's other funds and that such security deposit is not an advance payment of rental or a measure of Landlord’s 's damages in case of default by ~~Xxxxxx~~Tenant. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such ~~fund~~ funds to the extent necessary to make good any arrears of ~~rent~~ rentals and any other damage, injury, expense or liability caused to Landlord by such event of ~~default~~ default, and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default ~~herein~~hereunder, any remaining balance of such security deposit shall be returned by Landlord to Tenant ~~upon~~ within thirty (30) days of termination of this ~~Lease~~lease and Tenant's vacating of the Demised Premises (subject to the provisions of Section 19.6 above). ~~17.3 Upon~~ (a) In the ~~occurrence~~ event of any ~~such events~~ default described in subsection (d) of ~~default~~Section 22.1 of this lease, any assumption and assignment must conform with the requirements of the Bankruptcy Code and, in order to provide Landlord with the assurances contemplated by the Bankruptcy Code, Tenant must fulfill the following obligations, in addition to any other reasonable obligations that Landlord may require, before any assumption of this lease is effective: (i) all defaults under subsection (a) of Section 22.1 of this lease must be cured within ten (10) days after the date of assumption; (ii) all other defaults under Section 22.1 of this lease other than under subsection (d) of Section 22.1 must be cured within fifteen (15) days after the date of assumption; (iii) all actual monetary losses incurred by Landlord (including, but not limited to, reasonable attorneys' fees) must be paid to Landlord within ten (10) days after the date of assumption; and (iv) Landlord must receive within ten (10) days after the date of assumption a security deposit in the amount of six (6) months minimum guaranteed rent (using the minimum guaranteed rent in effect for the first full month immediately following the assumption) and an advance prepayment of minimum guaranteed rent in the amount of three (3) months minimum guaranteed rent (using the minimum guaranteed rent in effect for the first full month immediately following the assumption), both sums to be held by Landlord in accordance with Section 22.7 above and deemed to be rent under this lease for the purposes of the Bankruptcy Code as amended and from time to time in effect. (b) In the event this lease is assumed in accordance with the requirements of the Bankruptcy Code and this lease, and is subsequently assigned, then, in addition to any other reasonable obligations that Landlord may require and in order to provide Landlord with the assurances contemplated by the Bankruptcy Code, Landlord shall ~~have~~ be provided with (i) a financial statement of the ~~option~~ proposed assignee prepared in accordance with generally accepted accounting principles consistently applied, though on a cash basis, which reveals a net worth in an amount sufficient, in Landlord's reasonable judgment, to ~~pursue~~ assure the ~~following remedy:~~future performance by the proposed assignee of Tenant's obligations under this lease; or (ii) a written guaranty by one or more guarantors with financial ability sufficient to assure the future performance of Tenant's obligations under this lease, such guaranty to be in form and content satisfactory to Landlord and to cover the performance of all of Tenant's obligations under this lease.

Appears in 2 contracts

Samples: Industrial Complex Lease (Ariba Inc), Sublease (Ariba Inc)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 18.1 The following events shall be deemed to be events of default by Tenant under this ~~lease~~Lease: (a) Tenant shall fail to pay any installment of ~~rent~~ rental or any other ~~obligation herein involving the payment of money~~ expense required to be paid by Tenant hereunder when due, and such failure ~~shall continue~~ continues for ~~a period of five~~ ten (510) days after ~~the date due~~Tenant receives written notice thereof from Landlord. (b) Tenant shall fail to comply with any term, provision or covenant of in this Lease, other than ~~as described in subsection (a) above,~~ the payment of rental or expenses demanded by Landlord and shall not cure such failure within ~~fifteen~~ thirty (1530) days after receiving written notice thereof from Landlord; provided, however, that if such failure cannot reasonably be cured within the thirty (30) day period, Tenant shall not be deemed to ~~Tenant~~be in default if Tenant shall commence such cure within the thirty (30) day period and thereafter diligently prosecute the same to completion. (c) Tenant or any guarantor of Tenant's obligations under this ~~lease~~ Lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's ~~obligations~~ obligation under this ~~lease~~ Lease shall file a petition ~~for relief~~ under any section or chapter of the U.S. Bankruptcy Code, as amended, or under any similar ~~law,~~ law or ~~if such a petition~~ statute of the United States or any State thereof; or Tenant or any guarantor of Tenant's obligations [GRAPHIC OMITTED]under this Lease shall be adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's obligations under this ~~lease~~Lease. (e) A receiver or Trustee shall be appointed for ~~the demised premises or for~~ all or substantially all of the assets of the Tenant or any guarantor of Tenant's obligations under this Lease. (f) Tenant shall desert or vacate or shall commence to desert or vacate the demised premises or any substantial portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Demised Premises. 17.2 A Security Deposit specified in Article I, Section 1.1 (m) shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease. 17.3 18.2 Upon the occurrence of any such events of default, Landlord shall have the option to pursue any one or more of the following ~~remedy~~remedies without any notice or demand whatsoever: (a) Terminate this Lease in which event Tenant shall immediately surrender the Demised Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which he may have for possession or arrearages in rental, enter upon and take possession of the Demised Premises and expel or remove Tenant and any other person who may be occupying said premises or any part thereof, by force if necessary, without being liable for prosecution or any other claim of damages. (b) Enter upon and take possession of the Demised Premises and expel or remove Tenant and any other person who may be occupying said premises or any part, by force if necessary, without being liable for prosecution or any claim for damages with or without having terminated the Lease. (c) Enter upon the Demised Premises by force, if necessary, without being liable for prosecution or any claim for damages, and do whatever Tenant is obligated to do under the terms of this Lease, and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in effecting compliance with Tenant's obligations under this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to the Tenant from such action. (d) Alter all locks and other security devices at the Demised Premises without terminating this Lease and without notice to Tenant. 18.3 In the event Landlord elects to terminate the Lease by reason of an event of default, then notwithstanding such [GRAPHIC OMITTED]termination, Tenant shall be liable for, and shall pay to Landlord, at the address specified for notice to Landlord, the sum of all rental and other indebtedness accrued to date of such termination plus, as damage, an amount equal to the present value (using a discount rate of five percent (5%)) of the difference between (i) the total Annual Base Rent, as reasonably estimated by Landlord, for the remaining portion of the Lease term (had such term not been terminated by Landlord prior to the date of expiration stated in Article I); and (ii) the fair rental value of the Demised Premises for such period. 18.4 In the event that Landlord elects to repossess the Demised Premises without terminating the Lease, then Tenant shall be liable for and shall pay to Landlord, at the address specified for notice to Landlord, all rental and other indebtedness accrued to the date of such repossession, plus, as damage, an amount equal to the total Annual Base Rent, as reasonably estimated by Landlord, for the remainder of the Lease term until the date of expiration of the term as stated in Article I diminished by any net sums thereafter received by Landlord through reletting the Demised Premises during said period (after deducting expenses incurred by Landlord as provided in Article XVIII, Section 18.5 hereof). In no event shall Tenant be entitled to any excess of any rental obtained by reletting over and above the rental herein reserved. Actions to collect amounts due from Tenant to Landlord may be brought from time to time on one or more occasions, without the necessity of Landlord's waiting until expiration of the Lease term. 18.5 In case of any event of default or breach by Tenant, Tenant shall also be liable for and shall pay to Landlord, at the address specified for notice herein, in addition to any sum provided to be paid above, brokers fees incurred by Landlord in connection with reletting the whole or part of the Demised Premises; the costs of removing and storing Tenant's or other occupant's property; the cost of repairing, altering, remodeling or otherwise putting the Demised Premises into condition acceptable to a new Tenant or Tenants, and all reasonable expenses incurred by Landlord in enforcing or defending Landlord's rights and/or remedies, including reasonable attorneys' fees. 18.6 In the event of termination or repossession of the Demised Premises for an event of default, Landlord shall not have any obligation to relet or attempt to relet the Demised Premises, or any portion thereof, or to collect rental after reletting; Landlord may relet the whole or any portion of the Demised Premises for any period, to any tenant, and for any use and purpose. 18.7 If Tenant should fail to make any payment or cure any default hereunder within the time herein permitted, Landlord, without being under any obligations to do so and without waiving such default, may make such payment and/or remedy such other default for the account of Tenant (and enter the Demised Premises [GRAPHIC OMITTED]for such purpose), and thereupon Tenant shall be obligated to, and agrees to, pay Landlord, as additional rent, upon demand, all costs, expenses and disbursements (including reasonable attorneys' fees) incurred by the Landlord in taking such remedial action. 18.8 In the event that Landlord shall have taken possession of the Demised Premises pursuant to the authority herein granted, then Landlord shall have the right to keep in place and use all of the furniture, fixtures, and equipment at the Demised Premises, including that which is owned by or Leased to Tenant, at all times prior to any foreclosure thereon by Landlord or repossession thereof by any Landlord thereof or third party having a lien thereon. Landlord shall also have the right to remove from the Demised Premises (without the necessity of obtaining a distress warrant, writ of sequestration or other legal process) all or any portion of such furniture, fixtures, equipment and other property located thereon and place same in storage at any premises within the County in which the Demised Premises is located; and in such event, Tenant shall be liable to Landlord for costs incurred by Landlord in connection with such removal and storage and shall indemnify and hold harmless Landlord from all loss, damage, cost, expense and liability in connection with such removal and storage. Landlord shall also have the right to relinquish possession of all or any portion of such furniture, fixtures, equipment and other property to any person ("Claimant") claiming to be entitled to possession thereof who presents to Landlord a copy of any instrument represented to Landlord by Claimant to have been executed by Tenant (or any predecessor of Tenant) granting Claimant the right under various circumstances to take possession of such furniture, fixtures, equipment or other property, without the necessity on the part of Landlord to inquire into the authenticity of said instrument's copy of Tenant's or Tenant's predecessor's signature thereon and without the necessity of Landlord's making any nature of investigation or inquiry as to the validity of the factual or legal basis upon which Claimant purports to act; and Tenant agrees to indemnify and hold Landlord harmless from all costs, expense, loss, damage, and liability incident to Landlord's relinquishment of possession of all or any portion of such furniture, fixtures, equipment or other property by Claimant. The rights of Landlord herein stated shall be in addition to any and all other rights which Landlord has or may hereafter have at law or in equity; and Tenant stipulates and agrees that the rights herein granted Landlord are commercially reasonable.

Appears in 2 contracts

Samples: Office Lease (Manor Care Inc/New), Office Lease (Choice Hotels Holdings Inc)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 18.1 The following events shall be deemed to be be~events of default by by-Tenant under this lease: (a1) Tenant shall fail to pay any installment of ~~rent~~ rental or any other ~~obligation~~ amount payable to Landlord as herein ~~involving the payment of money~~ provided and such failure shall continue for a period ~~of five~~ often (510) ~~days after the date due~~days. (b2) Tenant shall fail to comply with any term, provision or covenant of this ~~Lease~~lease, other than ~~as described in subsection (a) above,~~ the payment of rental or any other amount payable to Landlord and shall not cure such failure within ~~fifteen~~ thirty (1530) days after written notice thereof to Tenant. (c3) Tenant or any guarantor of Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d4) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition ~~for relief~~ under any section or chapter of the National Bankruptcy ~~Code~~Act, as amended, or under any similar ~~law,~~ law or ~~if such a petition~~ statute of the United States or any State thereof; or Tenant or any guarantor of Tenant's obligations under this lease shall be adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's obligations under this lease. (e5) A receiver or Trustee shall be appointed for ~~the demised premises~~ all Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this ~~Lease~~lease. (f6) Tenant shall desert or vacate ~~or shall commence to desert or vacate the demised premises or~~ any ~~substantial~~ portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal propertyPremises. (g7) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Premises. ~~17.2 A Security Deposit specified in Article I, Section 1.1~~ (m) 8) The business operated by Tenant shall be ~~held by Landlord without interest~~ closed for failure to pay any State sales tax as ~~security~~ required or for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxxany other reason. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease. 17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue any one or more of the following ~~remedy~~remedies without any notice or demand whatsoever: a. Terminate this lease in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which Landlord may have for possession or arrearage in rental, enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying said premises or any part thereof, by force if necessary, without being liable for prosecution or any claim of damages thereof. b. Enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying said premises or any part thereof, by force if necessary, without being liable for prosecution or any claim for damages therefor with or without having terminated the lease. c. Do whatever Tenant is obligated to do under the terms of this lease (and enter upon the Premises in connection therewith if necessary) without being liable for prosecution or any claim for damages therefor, and Tenant agrees to reimburse Landlord on demand for any expense which Landlord may incur in thus effecting compliance with Tenant's obligations under this lease, plus interest thereon at the lessor of the highest rate permitted by law or eighteen percent (18%) per annum, and Tenant further agrees that Landlord shall not be liable for any damages resulting to the Tenant from such action. d. Alter all locks and other security devices at the Premises without terminating this lease. 18.2 Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises by Tenant, whether by agreement or by operation of law, it being understood that such surrender can be effected only by the written agreement of Landlord and Tenant. No such alteration of locks or other security devices and no removal or other exercise of dominion by Landlord over the property of Tenant or others at the Premises shall be deemed unauthorized or constitute a conversion, Tenant hereby consenting, after any event of default, to the aforesaid exercise of dominion over Tenant's property within the Premises. All claims for damages by reason of such re-entry and/or repossession and/or alteration of locks or other security devices are hereby waived, as are all claims for damages by reason of any distress warrant, forcible detainer proceedings, sequestration proceedings or other legal process. Tenant agrees that any re-entry by Landlord may be pursuant to judgment obtained in forcible detainer proceedings or other legal proceedings or without the necessity for any legal proceedings, as Landlord may elect, and Landlord shall not be liable in trespass or otherwise. 18.3 In the event Landlord elects to terminate the lease by reason of an event of default, then notwithstanding such termination, Tenant shall be liable for and shall pay to Landlord at the address specified for notice to Landlord herein the sum of all rental and other amounts payable to Landlord pursuant to the terms of this lease which have accrued to date of such termination. 18.4 In the event of any default by Landlord, Tenant will give Landlord written notice specifying such default with particularly, and Landlord shall thereupon have thirty (30) days (or such longer period as may be required in the exercise of due diligence) in which to cure any such default. Unless and until Landlord fails to so cure any default after such notice, Tenant shall not have any remedy or cause of action by reason thereof.

Appears in 1 contract

Samples: Lease Agreement (American Marine Recreation Inc)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 16.1 The following events shall be deemed to be events of default by Tenant under this ~~lease~~lease Agreement: (a) Tenant shall fail to pay any installment of rent or any other obligation herein involving the payment of money and such failure shall continue for a period of five (5) days after the date due. (b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than as described in subsection (a) above, and shall not cure such failure within fifteen (15) days after written notice thereof to Tenant. (c) Tenant or any guarantor of Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition for relief under any chapter of the Bankruptcy Code, as amended, or any similar law, or if such a petition shall be filed against Tenant or any guarantor of Tenant's obligations under this lease. (e) A receiver or Trustee shall be appointed for the demised premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this Lease. (f) Tenant shall desert or vacate or shall commence to desert or vacate the demised premises or any substantial portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the premises. 17.2 A Security Deposit specified in Article I, Section 1.1 (m) shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease. 17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue the following remedy:

Appears in 1 contract

Samples: Lease Agreement

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 19.1 The following ~~events~~ shall be ~~deemed to be events of default~~ "EVENTS OF DEFAULT" by ~~Tenant under this lease~~Tenant: (aA) ~~Tenant shall fail~~ The failure to pay ~~any installment of rent~~ Rent or any other ~~obligation herein involving the payment of money and such failure shall continue for a period of five (5)~~ amount payable hereunder within 30 days after ~~the date due~~receiving notice thereof from Landlord, provided that any Tenant shall be in default hereunder if it fails to to pay Rent or any other amount payable hereunder within 10 days after receiving notice thereof from Landlord with respect to any subsequent failure during a 12-month period. (bB) ~~Tenant shall fail~~ The failure to comply with any ~~term,~~ other provision ~~or covenant~~ of this ~~Lease, other than as described in subsection (a) above, and shall~~ Lease that is not ~~cure such failure~~ cured within ~~fifteen (15)~~ 30 days after written notice thereof to Tenant; provided, however, if the matter in question is not reasonably susceptible of being cured within 30 days, then it shall not be an Event of Default hereunder if Tenant commences to cure such matter within such 30-day period and thereafter diligently and with continuity prosecutes such cure to completion. (cC) The filing of any voluntary bankruptcy or similar proceeding by Tenant, or the filing of any such proceeding against Tenant which is not dismissed within 60 days. (D) The vacating of any material portion of the Premises for more than 5 consecutive days or 10 days in any ~~guarantor~~ Lease Year (other than as permitted in this Lease). (E) Closure of Tenant's ~~obligations under~~ business for 5 consecutive days or 10 days in any Lease Year for any reason (other than as permitted in this ~~lease shall become insolvent~~Lease). 19.2 Upon the occurrence of an Event of Default, Landlord may pursue any one or ~~shall make a transfer in fraud~~ more of ~~creditors,~~ the following remedies without further notice or ~~shall make an assignment for the benefit of creditors~~demand: (A) Terminate this Lease and recover damages therefor. (dB) Terminate Tenant's right to possess the Premises by re-entering the Premises after an appropriate court order without terminating this Lease and recover damages. In such event, Landlord may alter or change locks and other security devices at the Premises. Landlord shall have no obligation to furnish a new key unless and until Tenant ~~or any guarantor~~ cures all existing Events of Default and delivers to Landlord additional security, as determined by Landlord, for performance of Tenant's obligations under this lease shall file a petition for relief under any chapter of the Bankruptcy Code, as amended, or any similar law, or if such a petition shall be filed against Tenant or any guarantor of Tenant's obligations under this leaseobligations. (eC) ~~A receiver or Trustee shall be appointed for the demised premises or for all or substantially all of the assets of Tenant or~~ Perform any ~~guarantor~~ of Tenant's obligations under this Lease, and Tenant shall reimburse Landlord on demand for all reasonable costs incurred by Landlord in doing so. (fD) Exercise any other remedy provided in this Lease or under applicable law. 19.3 Exercise by Landlord of any one or more remedies hereunder or otherwise available shall not be an acceptance of surrender of the Premises. If Landlord terminates this Lease or Tenant's right to possess the Premises, Tenant shall ~~desert or vacate or shall commence to desert or vacate the demised premises or any substantial portion~~ immediately deliver possession of the ~~demised premises or~~ Premises to Landlord. 19.4 If Landlord terminates this Lease under Section 19.2(A), Tenant shall ~~remove or attempt~~ be liable for all rental and other amounts payable accrued to ~~remove~~the date of termination, ~~without~~ plus, as damages, an amount equal to excess of (a) the ~~prior written consent~~ total Rent (including Minimum Rental, Percentage Rental, computed as stated below, the Operating Contribution, and Tenant's share of ~~Landlord~~trash removal, ~~all or a substantial~~ insurance, and Taxes) over (b) the fair market rental value of the Premises (taking into account a reasonable estimate of the time it will take to relet the Premises) for the remaining Term both of which amounts shall be discounted to present value using a discount rate of Eight Percent (8%). The periodic Percentage Rental for which Tenant shall be liable after termination of this Lease shall be determined by averaging the amount Tenant was obligated to pay as Percentage Rental during the Twenty Four (24) month period before such termination (or, if shorter, the period from the Commencement Date to termination). 19.5 If Landlord terminates Tenant's ~~goods~~right of possession without terminating the Lease under Section 19.2(B), ~~wares, equipment, fixtures, furniture, or other personal property. (g)~~ Tenant shall ~~do or permit~~ remain liable for all Rent and other amounts payable to ~~be done anything which creates a lien upon the premises. 17.2 A Security Deposit specified in Article I, Section 1.1~~ Landlord pursuant to this Lease (m) Percentage Rental shall be ~~held~~ calculated as provided in Section 19.4) diminished by any net sums thereafter received by Landlord ~~without interest~~ through reletting the Premises (after deducting expenses incurred by Landlord as ~~security for~~ provided in Section 19.6). Tenant shall not be entitled to any excess obtained by reletting over the ~~performance~~ rental herein reserved. Actions to collect amounts due by ~~Xxxxxx’s covenants and obligations under~~ Tenant to Landlord as provided in this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, Section 19.5 may be brought from time to time, ~~without prejudice~~ on one or more occasions. If Landlord terminates Tenant's right of possession under Section 19.2(B), it may at any time thereafter elect to ~~any other remedy provided by law~~terminate this Lease under Section 19.2(A). 19.6 In case of an Event of Default, ~~use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and~~ Tenant shall ~~pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein,~~ also be liable for any ~~remaining balance of such deposit shall be returned~~ broker's fees incurred by Landlord ~~to Tenant upon termination~~ in connection with reletting the whole or any part of ~~this Lease~~the Premises; the reasonable costs of removing and storing Tenant's or other occupant's property; the reasonable cost of repairing the Premises; and all reasonable cost of repairing the Premises; and all reasonable expenses incurred by Landlord in enforcing or defending Landlord's rights including reasonable attorneys' fees. ~~17.3 Upon the occurrence of any such events of default~~19.7 If Landlord terminates this Lease or Tenant's right to possession, Landlord shall have such duty to mitigate as is required by applicable law, provided: (a) Landlord shall be required only to use reasonable efforts to mitigate, which shall not exceed such efforts as Landlord generally uses to lease other space at the ~~option~~ Shopping Center; (b) Landlord shall not be deemed to ~~pursue~~ have failed to mitigate if Landlord leases any other portions of the Shopping Center before reletting all or any portion of the Premises; and (c) any failure to mitigate as described herein with respect to any period of time shall only reduce the Rent and other amounts to which Landlord is entitled hereunder by the reasonable rental value of the Premises during such period. In recognition that the value of the Shopping Center depends upon on the rental rates and terms of leases therefor, Landlord's rejection of a prospective replacement tenant based on an offer of rentals below the rates provided in this Lease, or containing terms less favorable than those contained in this Lease, shall not give rise to a claim by Tenant that Landlord failed to mitigate damages. However, if Tenant secures a replacement tenant with a reasonably adequate net worth who is experienced in the successful operation of restaurants (in both cases as reasonably determined by Landlord) who is willing to enter into a lease for the Premises on the terms and conditions, and at the rates, contained in this Lease, and Landlord rejects such replacement tenant, Tenant shall be released from any damages accruing after the date of such rejection. 19.8 If Landlord takes possession of the Premises following ~~remedy:~~an Event of Default, Landlord may keep in place and use all of the furniture, fixtures and equipment at the Premises. Landlord may also remove from the Premises (without legal process) any such furniture, fixtures, equipment and other property and place same in storage at Tenant's expense. Landlord may relinquish possession of any furniture, fixtures, equipment and other property to any person claiming to be entitled to possession thereof pursuant to an agreement with Tenant without inquiring into the authenticity of such agreement. 19.9 If Tenant should fail to timely pay any installment of Rent or other sum to be paid hereunder within 10 days after written notice from Landlord, Tenant will pay landlord on demand a late charge equal to $100.00, and the amount in question shall bear interest at the lesser of the maximum rate permitted by law or Twelve Percent (12%) per annum from the date due until paid. 19.10 The rights and remedies of Landlord herein stated shall be in addition to any and all other rights and remedies which landlord has or may hereafter have at law or in equity.

Appears in 1 contract

Samples: Lease Agreement (Smith & Wollensky Restaurant Group Inc)

Appears in 1 contract

Samples: Shopping Center Lease

DEFAULT BY TENANT AND REMEDIES. 17.1 The following events shall be deemed to be events of default by Tenant under this lease: (a) Tenant shall fail to pay any installment of rent or any other obligation herein involving the payment of money and such failure shall continue for a period of five (5) days after the date due. (b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than as described in ~~subsection (a) above, and shall not cure such failure within fifteen (15) days after written notice thereof to Tenant.~~subsection (c) Tenant or any guarantor of Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition for relief under any chapter of the Bankruptcy Code, as amended, or any similar law, or if such a petition shall be filed against Tenant or any guarantor of Tenant's obligations under this lease. (e) A receiver or Trustee shall be appointed for the demised premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this Lease. (f) Tenant shall desert or vacate or shall commence to desert or vacate the demised premises or any substantial portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the premises. 17.2 A Security Deposit specified in Article I, Section 1.1 (mo) shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease. 17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue the following remedy:

Appears in 1 contract

Samples: Shopping Center Lease

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 22.1 The following events ~~shall~~ will be deemed to be events of default by Tenant under this ~~lease:~~Lease. (a) Tenant ~~shall fail~~ fails to pay any installment of rent or any other obligation ~~herein~~ under this Lease involving the payment of money and such failure ~~shall continue~~ continues for a period of ~~five~~ ten (510) days after written notice thereof to Tenant; provided, however, that for any twelve (12) month period during which Landlord has already given Tenant one written notice of the failure to pay an installment of rent, no further notice will be required (i.e., the event of default will automatically occur on the tenth day after the date upon which the rent was due.) (b) Tenant ~~shall fail~~ fails to comply with any ~~term,~~ provision ~~or covenant~~ of this Lease, other than as described in ~~subsection~~ Subsection (a) above, and ~~shall~~ either does not cure such failure within fifteen (15) days after written notice thereof to Tenant, or cures that particular failure but again fails to comply with the same provision of the Lease within three months after Xxxxxxxx’s written notice. (c) Tenant or any guarantor of Tenant~~'s obligations~~ ’s obligation under this ~~lease shall become~~ Lease becomes insolvent, or ~~shall make~~ makes a transfer in fraud of creditors, or ~~shall make~~ makes an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's ’s obligations under this ~~lease shall file~~ Lease files a petition ~~for relief~~ under any section or chapter of the federal Bankruptcy Code, as amended, or under any similar ~~law,~~ law or ~~if such a petition shall be~~ statute of the United States of any state thereof; or Tenant or any guarantor of Tenant’s obligations under this Lease is adjusted bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's ’s obligations under this ~~lease~~Lease there under. (e) A receiver or Trustee ~~shall be~~ is appointed for the ~~demised premises~~ Demised Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant~~'s obligations~~ ’s obligation under this Lease. (f) Tenant ~~shall desert~~ deserts or ~~vacate~~ vacates or ~~shall commence~~ commences to desert or vacate the ~~demised premises~~ Demised Premises or any substantial portion of the ~~demised premises~~ Demised Premises or ~~shall remove~~ at any time prior to the last month of this lease term removes or ~~attempt~~ attempts to remove, without the prior written consent of Landlord, all or a substantial ~~value~~ amount of Tenant's ’s goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant ~~shall do~~ does or ~~permit~~ permits to be done anything which creates a lien upon the ~~premises~~all or any part of the Demised Premises. ~~17.2 A Security Deposit specified in Article I, Section 1.1~~ (mh) ~~shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not~~ Tenant makes an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination anticipatory breach of this Lease. The term “anticipatory breach” means either (1) Tenant’s repudiation of this Lease in writing, or (2) the combination of (i) Tenant’s desertion or vacation or commencement of desertion or vacation of the Demised Premises or removal of all or a substantial amount of Tenant’s equipment, fixtures, furniture, or other personal property from the Demised Premises, and (ii) Tenant’s failure to pay any Base Rent or other amounts due under this Lease as and when they are due and payable. ~~17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue the following remedy:~~

Appears in 1 contract

Samples: Building Lease (First Surgical Partners Inc.)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 19.1 The following events shall be deemed to be events of default by Tenant under this lease: (a1) Tenant shall fail to pay any installment of rent or any other ~~obligation herein~~ obligations hereunder involving the payment of money and such failure shall continue for a period of five (5) days after the date due. (b2) Tenant shall fail to comply with ~~any~~ nay term, provision or covenant of this ~~Lease~~lease, or any amendment, addendum or exhibit hereto, other than as described in subsection (a1) above, and shall not cure such failure within ~~fifteen~~ ten (1510) days after written notice thereof to Tenant; provided, however, that Landlord shall ________ be obligated to ! Tenant such written notice of default or failure only a maximum of two (2) times during any calendar year, and, in the event of more than two (2) such defaults by Tenant during any calendar year, the next default shall be an automatic default hereunder without any further obligations on the part of Landlord to provide notice thereof. (c3) Tenant or any guarantor of Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d4) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition ~~for relief~~ under any section or chapter of the National Bankruptcy [Code, ] as amended, or under any similar ~~law~~law or statute of the United State or any State thereof, or ~~if such a petition shall be filed against~~ an order for relief relating to Tenant or any guarantor of Tenant's obligations under this ~~lease~~lease is granted in proceedings filed against Tenant or any guarantor of Tenant's obligation xxxxxx this lease thereunder. (e5) A receiver or Trustee shall be appointed for the ~~demised premises~~ Demised Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this ~~Lease~~lease. (f6) Tenant shall desert or vacate or shall commence to desert or vacate the ~~demised premises~~ Demised Premises or any substantial portion of the ~~demised premises~~ Demised Premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g7) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Demised Premises. Upon the occurrence of any such events of default, Landlord shall have the option to pursue the following remedies: A. Without any notice or demand whatsoever, Landlord may take any one or more of the actions permissible at law to insure performance by Tenant of tenant's covenants and obligations under this lease. In this regard, it is agreed that if Tenant deserts or vacates the Demised Premises, Landlord may enter upon and take possession of such premises in order to protect them from deterioration and continue to demand from Tenant the monthly rentals and other charges provided in this lease, without any obligation to relet, but that if Landlord does, at its sole discretion, elect to relet the Demised Premises, such action by Landlord shall not be deemed as an acceptance of Tenant's surrender of the Demised Premises unless Landlord expressly notifies Tenant of such acceptance in writing pursuant to subsection B of this Section [19.1], Tenant hereby acknowledges that Landlord shall otherwise be reletting as Tenant's agent and Tenant furthermore hereby agreeing to pay to Landlord on demand any deficiency that may arise between the monthly rentals and other charges provided in this lease and that actually collected by Landlord. It is further agreed in this regard that in the event of any default in subsection (2) of this Section [19.1], Landlord shall have the right to enter upon the Demised Premises by force if necessary without being liable for prosecution or any claim for damages therefor, and do whatever Tenant is obligated to do under the terms of this lease and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in thus effecting compliance with Tenant's obligations under this lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to the Tenant from such action. ~~17.2~~ B. Landlord may, without waiving any right to collect the monthly rentals and other charges due and to be due under this lease, terminate the lease by written notice to Tenant, in which event Tenant shall immediately surrender the Demised Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which Landlord may have for possession or arrearages in rent (including any interest which has accrued pursuant to Section 4.6 of this lease), enter upon and take possession of the Demised Premises and expel or remove Tenant and any other person who may be occupying said premises or any part thereof, by force if necessary, without being liable for prosecution or any claim for damages therefor. Tenant agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of a termination effected pursuant to this subsection B, said loss and damage to be determined by either of the following alternative measures of damage: (i) Until Landlord is able, through reasonable efforts, the nature of which efforts shall be at the sole discretion of Landlord, to relet the Demised Premises, Tenant shall pay to Landlord on or before the first day of each calendar monthly, the monthly rentals and other charges provided in this lease. After the Demised Premises have been relet by landlord, Tenant shall pay to Landlord on the 20th day of each calendar month the difference between the monthly rentals and other charges provided in this lease for the preceding calendar month and that actually collected by Landlord for such month. If it is necessary for Landlord to bring suit in order to collect any deficiency, Landlord shall have a right to allow such deficiencies to accumulate and to bring an action on several or all of the accrued deficiencies at one time. Any such suit shall not prejudice in any way the right of Landlord to bring a similar action for any subsequent deficiency or deficiencies. Any amount collected by Landlord from subsequent tenants for any calendar month, in excess of the monthly rentals and other charges provided in this lease shall be credited to Tenant in reduction of Tenant's liability for any calendar month for which the amount collected by Landlord will be less than the monthly rentals and other charges provided in this lease; but Tenant shall have no right to such excess other than the above described credit. (ii) When Landlord desires, Landlord may demand a final settlement. Upon demand for a final settlement, Landlord shall have a right _________ and Tenant hereby agrees to pay, the difference between the total of all monthly rentals and other charges provided in this lease for the remainder of the term and the reasonable rental value of the Demised Premises for such period, such difference to be discounted to present value at a rate equal to the rate of interest which is allowable by law, in the state designated by Section 27.10 of this lease, when the parties to a contract have not agreed on any particular rate of interest (or, in the absence of such law, at the rate of six per cent (6%) per annum). If Landlord elects to exercise the remedy prescribed in subsection A ~~Security Deposit specified~~ above, this election shall in ~~Article I~~no way prejudice Landlord's right at any time thereafter to cancel said election in favor of the remedy prescribed in subsection B above, provided that at the time of such cancellation Tenant is still in default. Similarly, if Landlord elects to compute damages in the manner prescribed in subsection B(i) above, this election shall in no way prejudice Landlord's right at any time thereafter to demand a final settlement in accordance with subsection B(ii) above. Pursuit of any of the above remedies shall not preclude pursuit of any other remedies prescribed in other sections of this lease and any other remedies provided by law. Forbearance by Landlord to enforce one or more of the remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of such default. 19.2 It is further agreed that, in addition to payments required pursuant to subsections A and B of Section ~~1.1~~ 19.1 above, Tenant shall compensate Landlord for all expenses incurred by Landlord in repossession (mincluding among other expenses, any increase in insurance premiums caused by the vacancy of the Demised Premises), all expenses incurred by Landlord in reletting (including among other expenses, repairs, remodeling, replacements, advertisements, brokerage fees), all concessions granted to a new tenant upon reletting (including among other concessions, renewal options), all losses incurred by Landlord as a direct or indirect result of Tenant's default (including among other losses any adverse reaction by Landlord's mortgagee or by other tenants or potential tenants of the Shopping Center) and a reasonable allowance for Landlord's administrative efforts, salaries and overhead attributable directly or indirectly to Tenant's default and Landlord's pursuing the rights and remedies provided herein and under applicable law. 19.3 Landlord may restrain or enjoin any breach or threatened breach of any covenant, duty or obligation of tenant herein contained without the necessity of proving the inadequacy of any legal remedy or irreparable harm. The remedies of Landlord hereunder shall be deemed cumulative and not exclusive of each other. 19.4 If on account of any breach or default by Tenant in its obligations hereunder, Landlord shall employ an attorney to present, enforce or defend any of Landlord's rights or remedies hereunder, Tenant agrees to pay any reasonable attorney's fees incurred by Landlord in such connection. 19.5 Landlord hereby acknowledges receipt from Tenant of the sum stated in Section 1.1(o) above, to be applied to the first accruing installments of rent, and Landlord further acknowledges receipt from Tenant of the sum stated in Section [1.1(p)] above to be held by Landlord without interest as security for the performance by ~~Xxxxxx’s~~ Tenant of Tenant's covenants and obligations under this ~~Lease~~lease, it being expressly understood that such deposit may be co-mingled with Landlord's other funds and is not an advance payment of rental or a measure of Landlord’s 's damages in case of default by ~~Xxxxxx~~Tenant. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such ~~fund~~ funds to the extent necessary to make good any arrears of ~~rent~~ rentals and any other damage, injury, expense or liability caused to Landlord by such event of ~~default~~ default, and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default ~~herein,~~ hereunder any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this ~~Lease~~lease (subject to the provisions of Section 17.5 above. ~~17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue the following remedy:~~

Appears in 1 contract

Samples: Building Lease (Care Group Inc)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 20.1 The following events shall be deemed to be events of default (individually, an "Event of Default") by Tenant under this ~~lease~~Lease: (a) Tenant shall fail to pay any installment of ~~rent~~ Rent or any other obligation ~~herein~~ under this Lease involving the payment of money and such failure shall continue for a period of ~~five~~ ten (510) days after written notice thereof to Tenant; provided, however, if during any calendar year during the Lease Term, Landlord delivers to Tenant a single written notice of the failure to pay an installment of Rent or any other obligation under this Lease involving the payment of money, no further notice shall be required with respect to any subsequent failure (i.e., the event of default will automatically occur on the tenth day after the date ~~due~~upon which the Rent or other obligation under this Lease involving the payment of money was due without the requirement that notice of failure to pay, notice of intention to declare an event of default or any other notice be given to Tenant). (b) Tenant shall fail to comply ~~with~~ with, or otherwise cure any failure to comply with, any term, provision or covenant of this Lease, other than as described in subsection (a) ~~above~~above or subsection (i) below, ~~and shall not cure such failure~~ within fifteen (15) days after written notice ~~thereof~~ from Landlord to Tenant, or if Tenant shall cure that particular failure but shall again fail to comply with the same provision of this Lease within three months after Landlord's written notice. Notwithstanding anything herein contained to the contrary, if any event of default described in this Section 20.1(b) cannot with due diligence be cured within the aforesaid fifteen (15) day period, Tenant shall not be in default hereunder if, prior to the expiration of said fifteen (15) day period, Tenant shall commence to eliminate the cause of such event of default, shall proceed diligently and with reasonable dispatch to take all action required to cure such event of default, and does cure such event of default within sixty (60) days from its receipt of notice of default from Landlord. (c) Tenant ~~or any guarantor of Tenant's obligations under this lease~~ shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant ~~or any guarantor of Tenant's obligations under this lease~~ shall file a petition ~~for relief~~ under any section or chapter of the federal Bankruptcy Code, as amended, or under any similar ~~law~~law or statute of the United States or any State thereof, or ~~if such a petition~~ Tenant shall be adjudged bankrupt or insolvent in proceedings filed against ~~Tenant or any guarantor of~~ Tenant~~'s obligations under this lease~~. (e) A ~~receiver~~ receiver, keeper or ~~Trustee~~ trustee shall be appointed for the ~~demised premises~~ Tenant or for all or substantially all of the assets of Tenant or any guarantor of Tenant's ~~obligations~~ obligation under this Lease. (f) Tenant shall ~~desert~~ abandon or ~~vacate~~ vacate, or shall commence to ~~desert~~ abandon or ~~vacate~~ vacate, the ~~demised premises~~ Premises or any substantial portion of the ~~demised premises~~ Premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial ~~value~~ amount of ~~Tenant's~~ goods, wares, equipment, fixtures, ~~furniture,~~ furniture or other personal property. (g) Tenant or any Subtenant shall do do, or permit to be ~~done~~ done, anything which creates a lien upon the ~~premises~~Premises or the leasehold interest of Tenant or such Subtenant, or Landlord, in and to the Premises (unless Tenant or such Subtenant, within ten (10) days after notice (actual or constructive) of such lien, causes the lien to be satisfied and released or bonds around the lien in accordance with state law and to Landlord's reasonable satisfaction). ~~17.2 A Security Deposit specified~~ (h) Tenant, without Xxxxxxxx's prior written consent, assigns or transfers, or attempts to assign or transfer, this Lease or any estate or interest herein, or subleases, or attempts to sublease, the Premises or any part thereof, or grants or attempts to grant any license, concession or other right of occupancy with respect to any portion of the Premises. (i) Tenant shall fail to cause at least fifty (50%) percent of the floor area of the Premises to be subleased to retail Subtenants (approved by Landlord) at any time during the period commencing 180 days after the opening of the casino within the Shoreside Complex (as defined in ~~Article I~~the Ground Lease) and ending 365 days after said opening, as more fully set forth in Section ~~1.1~~ 19.1. (mj) Tenant shall fail to cause at least seventy-five (75%) percent of the floor area of the Premises to be ~~held~~ subleased to retail Subtenants (approved by ~~Landlord without interest~~ Landlord) at any time after the date which is 365 days after the opening of the casino within the Shoreside Complex (as ~~security for~~ defined in the ~~performance by Xxxxxx’s covenants and obligations under this~~ Ground Lease), ~~it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages~~ as more fully set forth in ~~case of default by Xxxxxx.~~ Section 19.1. 20.2 Upon the occurrence of any ~~event~~ Event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease. 17.3 Upon the occurrence of any such events of defaultDefault hereunder, Landlord shall have the option to pursue any one or more of the following ~~remedy~~remedies immediately and without any further demand, notice, presentment, notice of intention to exercise remedies, notice to vacate or opportunity to cure whatsoever, all of which are hereby expressly waived by Xxxxxx: (a) Tenant shall be obligated to reimburse Landlord for the damages suffered by Landlord as a result of the Event of Default, together with interest on such amount at the maximum contractual rate which could legally be charged in the event of a loan of such amount to Tenant (but in no event to exceed 1 1/2% per month), and Landlord may pursue a monetary recovery from Tenant. In this regard, and without limiting the generality of the immediately preceding sentence, it is agreed that if Tenant fails to open, or fails to cause Subtenants to open, for business as required in this Lease or, having opened for business, either Tenant or any Subtenant subsequently abandons or vacates the Premises or otherwise ceases to conduct business in the Premises as required in this Lease, then Landlord, at its option, may seek monetary recovery for the loss of Xxxxxx's anticipated contribution to commerce within the Premises; moreover, Landlord and Tenant further agree that inasmuch as the exact amount of damages would be difficult to determine, liquidated damages will be due monthly in an amount equal to the monthly Minimum Guaranteed Rental payable for the month if Tenant or a Subtenant fails to open for business as required in this Lease or, having opened for business, subsequently abandons or vacates the Premises or otherwise ceases to conduct business in the Premises as required by this Lease (including, but not limited to, failing to comply with the requirements of Section 8.1 of this Lease). (b) Landlord may take any one or more of the actions permissible at law to insure performance by Xxxxxx of Tenant's covenants and obligations under this Lease. In this regard, and without limiting the generality of the immediately preceding sentence, it is agreed if Tenant or a Subtenant fails to open for business as required in this Lease or, having opened for business, abandons or vacates the Premises, Landlord may enter upon and take possession of the Premises and continue to demand from Tenant the Rent and other charges provided in this Lease, without any obligation to relet; however, if Landlord does, at its sole discretion, elect to relet the Premises, such action by Landlord shall not be deemed as an acceptance of Xxxxxx's surrender of the Premises unless Landlord expressly notifies Tenant of such acceptance in writing pursuant to this subsection (b), Tenant hereby acknowledging that Landlord shall otherwise be reletting as Tenant's agent and Tenant furthermore hereby agreeing to pay to Landlord, on demand, as liquidated damages, any deficiency that may arise between the Rent and other charges provided in this Lease and that actually collected by Landlord as a result of a reletting of the Premise. It is further agreed in this regard that upon the occurrence of any Event of Default described in subsection (b) of Section 20.1 of this Lease, Landlord shall have the right to enter upon the Premises, without being liable for prosecution or any claim for damages therefor, and do whatever Tenant is obligated to do under the terms of this Lease. Tenant agrees to reimburse Landlord, on demand, for any expenses which Landlord may incur in thus effecting compliance with Xxxxxx's obligations under this Lease, as additional Rent hereunder, and Xxxxxx further agrees that Landlord shall not be liable for, and Tenant shall, and does hereby, indemnify Landlord and its partners and their respective officers, directors, shareholders, members, employees and agents, from and against any damages (including attorneys' fees and litigation expenses) resulting from such action. Finally, it is agreed that upon the occurrence of any Event of Default described in subsection (g) of Section 20.1 of this Lease, Landlord may pay or bond around such lien, whether or not contested by Xxxxxx, and in such event, Xxxxxx agrees to reimburse Landlord, on demand, as additional Rent hereunder, for all costs and expenses incurred in connection with any such action, regardless of whether the lien was valid, with Tenant further agreeing that Landlord shall in no event be liable for any damages or claims resulting from such action. (c) Landlord may terminate this Lease or Xxxxxx's rights of possession by written notice to Tenant, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which Landlord may have for possession or arrearages in Rent (including any late charge or interest which may have accrued pursuant to Section 4.10 of this Lease), enter upon and take possession of the Premises and expel or remove Xxxxxx and any other person who may be occupying the Premises or any part thereof, including any Subtenant, without being liable for prosecution or any claim for damages therefor. Tenant hereby waives any required notice to vacate and all statutory requirements of prior written notice for filing suits for eviction or damage for nonpayment of Rent. In addition, Xxxxxx agrees to pay to Landlord, on demand, the amount of all losses and damages which Landlord may suffer by reason of any termination effected pursuant to this subsection (c), said losses and damages to be determined by either of the following alternative measures of damages: (i) Until Landlord is able, through reasonable efforts, the nature of which efforts shall be in the sole discretion of Landlord, to relet the Premises, Tenant shall pay to Landlord on or before the first day of each calendar month Rent and other charges provided in this Lease. After the Premises have been relet by Landlord, Tenant shall pay to Landlord on the 20th day of each calendar month the difference between the monthly Rent and other charges provided in this Lease for such calendar month and that actually collected by Landlord for such month. If it is necessary for Landlord to bring suit in order to collect any deficiency, Landlord shall have the right to allow such deficiencies to accumulate and to bring an action on several or all of the accrued deficiencies at one time. Any such suit shall not prejudice in any way the right of Landlord to bring a similar action for any subsequent deficiencies. Any amount collected by Xxxxxxxx from subsequent tenants for any calendar month in excess of the monthly Rent and other charges provided in this Lease shall be credited to Tenant in reduction of Tenant's liability for subsequent calendar months for which the amount collected by Landlord will be less than the monthly Rent and other charges provided in this Lease, but Tenant shall have no right to such excess other than the above described credit. (ii) When Landlord desires, Landlord may demand a final statement. Upon demand for a final statement, Landlord shall have the right to receive from Tenant, and Tenant hereby agrees to pay to Landlord, in addition to any Rent or other amounts then due or payable, the difference between the total of all Rent and other charges provided in this Lease for the remainder of the Lease Term and the reasonable rental value of the Premises for such period, such difference to be discounted to present value at a rate equal to the rate of interest which is allowed by law in the State of Louisiana when the parties to a contract have not agreed on any particular rate of interest (or, in the absence of such law, at the rate of six percent (6%) per annum). If Landlord elects to exercise the remedy prescribed in subsection 20.2(b) above, this election shall in no way prejudice Landlord's right at any time thereafter to cancel said election in favor of the remedy prescribed in subsection 20.2(c) above, provided that at the time of such cancellation Tenant is still in default. Similarly, if Landlord elects to compute damages in the manner prescribed by Subsection 20.2(c)(i) above, this election shall in no way prejudice Landlord's right at any time thereafter to demand a final settlement in accordance with Subsection 20.2(c)(ii) above. Pursuit of any of the above remedies shall not preclude pursuit of any other remedies prescribed in other sections of this Lease or any other remedies provided by law or in equity. Landlord may exercise such other remedies hereunder or as provided by law or equity upon the occurrence of an Event of Default immediately and without any further demand, notice, presentment, notice to vacate, notice of intention to exercise remedies or opportunity to cure whatsoever, all of which are hereby expressly waived by Xxxxxx. Landlord shall not be required to provide Tenant with any notices of default or intention to declare an event of default, or with any opportunity to cure breaches or events of default, except as may be expressly provided in Section 20.1. Forbearance by Landlord to enforce one or more of the remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of such event of default. 20.3 It is expressly agreed that in determining "the monthly Rent and other charges provided in this Lease," as that term is used throughout subsections 20.2(c)(i) and 20.2(c)(ii) above, there shall be added to the Minimum Guaranteed Rental (as specified in Sections 1.1(j) and 4.1 of this Lease) the payments for taxes, Real Estate Charge and insurance as specified in Article VI of this Lease. 20.4 It is further agreed that, in addition to payments required pursuant to subsections 20.2(b) and 20.2(c) above, Tenant shall compensate Landlord, as additional Rent hereunder, for all expenses incurred by Landlord in regaining possession of the Premises (including, among other expenses, attorneys' fees, litigation expenses and any increase in insurance premiums caused by the vacancy of the Premises), all expenses incurred by Landlord in reletting (including, among other expenses, repairs, remodeling, replacements, advertisements and brokerage fees), all concessions granted to a new tenant or new tenants upon reletting (including, among other concessions, renewal options), all losses incurred by Landlord as a direct result of Tenant's default (including, among other losses, any adverse reaction by Landlord's mortgagee or by other tenants or potential tenants of the Premises) and a reasonable allowance for Landlord's administrative efforts, salaries and overhead attributable, directly or indirectly, to Xxxxxx's default and Xxxxxxxx's pursuit of the rights and remedies provided herein and under applicable law. 20.5 Landlord may restrain or enjoin any breach or threatened breach of any covenant, duty or obligation of Tenant herein contained. The remedies of Landlord hereunder shall be deemed cumulative and not exclusive of each other. 20.6 [INTENTIONALLY DELETED]

Appears in 1 contract

Samples: Retail Space Lease (HCS Ii Inc)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 22.1 The following events shall be deemed to be events of default by Tenant under this lease: (a) Tenant shall fail to pay any installment of ~~rent~~ rental or any other obligation ~~herein~~ under this lease involving the payment of money and such failure shall continue for a period of ~~five~~ ten (510) days after written notice thereof to Tenant; provided, however, that for each calendar year during which Landlord -------- ------- has already given Tenant three written notices of the ~~date~~ failure to pay an installment of rental, no further notice shall be required (i.e., the event of default will automatically occur on the tenth day after the day upon which the rental was due). (b) Tenant shall fail to comply with any ~~term,~~ provision ~~or covenant~~ of this ~~Lease~~lease, other than as described in subsection (a) above, and either shall not cure such failure within fifteen (15) days after written notice thereof to ~~Tenant~~Tenant provided, however, that if such default is of a nature that it cannot be cured within 15 days, Tenant shall not be in default hereunder provided that the cure is commenced within such 15 day period and is diligently pursued thereafter to completion, or shall cure that particular failure but shall willfully fail to comply with the same provision of the lease within three (3) months after Landlord's written notice. (c) Tenant or any guarantor of Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition ~~for relief~~ under any section or chapter of the federal Bankruptcy Code, as amended, or under any similar ~~law,~~ law or ~~if such a petition~~ statue of the United States or any state thereof; or Tenant or any guarantor of Tenant's obligations under this lease shall be adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's obligations under this ~~lease~~lease thereunder. (e) A receiver or Trustee shall be appointed for the ~~demised premises~~ Demised Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this ~~Lease~~lease. (f) Tenant shall desert or ~~vacate or~~ shall commence to desert ~~or vacate~~ the ~~demised premises~~ Demised Premises or any substantial portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal propertyDemised Premises. (g) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Demised Premises or upon all or any part of the Industrial Complex; which lien is not released within 15 days of Tenant's receipt of written notice thereof. ~~17.2 A Security Deposit specified~~ (h) Any transfer of a substantial portion of the assets of Tenant, or any incurrence of a material obligation by Tenant, unless such transfer or obligation is undertaken or incurred in ~~Article I~~the ordinary course of Tenant's business or in good faith for equivalent consideration, ~~Section 1.1~~ or with Landlord's consent. (mi) ~~shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and~~ The default of any guarantors if any of Tenant's obligations hereunder under any guaranty of this Lease, ~~it being expressly understood that such deposit is not an advance payment of rental~~ or ~~a measure of Landlord’s damages in case of default by Xxxxxx. Upon~~ the ~~occurrence~~ attempted repudiation or revocation of any ~~event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use~~ such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Leaseguaranty. ~~17.3~~ 22.2 Upon the occurrence of any such ~~events~~ event of default, Landlord shall have the option to pursue any one or more of the following remedies to the extent permitted by law: (a) Without any further notice or demand whatsoever, Tenant shall be obligated to reimburse Landlord for the damages suffered by Landlord as a result of the event of default, plus interest on such amount at the maximum contractual rate which could legally be charged in the event of a loan of such amount to Tenant (but in no event to exceed 1-1/2% per month); and Landlord may pursue a monetary recovery from Tenant. (b) Without any further notice or demand whatsoever Landlord may take any action, including entering upon and taking possession of the Demised Premises, as Landlord deems reasonably necessary in order to protect the Demised Premises from deterioration, and may continue to demand from Tenant the monthly rentals and other charges provided in this lease. Without limitation of the foregoing, in the event of any default described in subsection (b) of Section 22.1 of this lease, Landlord shall have the right to enter upon the Demised Premises, by force if necessary, and do whatever Tenant is obligated to do under the terms of this lease; and Tenant agrees to reimburse Landlord on demand for any reasonable expenses which Landlord may incur and thus affecting compliance with Tenant's obligations under this lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to the Tenant from such action. Further, it is agreed that in the event of any default in subsection (g) of Section 22.1 of this lease, Landlord may pay or bond around such lien, whether or not contested by Tenant, and in such event Tenant agrees to reimburse Landlord within 10 days written demand for all reasonable costs and expenses incurred in connection with any such action, with Tenant further agreeing that Landlord shall in no event be liable for any damages or claims resulting from such action. (c) Landlord may terminate this lease by giving Tenant notice of Landlord's election to do so, in which event the terms of this lease shall end, and all right, title and interest of Tenant hereunder shall expire on the date stated in such notice. In the event of such termination, Tenant shall immediately surrender the Demised Premises to Landlord in the condition required under this lease for the surrender at the expiration of the term hereof, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which Landlord may have for possession or otherwise, enter upon and take possession of the Demised Premises and expel or remove Tenant and any person who may be occupying said Demised Premises or any part thereof, by force if necessary, without being liable for prosecution or any claim for damages therefor. (d) Landlord may terminate the right of Tenant to possession of the Demised Premises without terminating this lease, by giving written notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Demised Premises or any part thereof shall cease on the date stated on such notice. In the event of such termination of possession, Tenant shall immediately surrender the Demised Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which Landlord may have for possession or otherwise, enter upon and take possession of the Demised Premises and expel or remove Tenant and any other person who may. be occupying said Demised Premises or any part thereof. (e) Landlord may enforce any and all of the provisions of this lease and enforce and protect the rights of Landlord hereunder by suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy:, including recovery of all monies due or to become due from Tenant under any provisions of this lease. (a) If Landlord exercises either of the remedies provided for in subparagraphs (c) or (d) of the foregoing Section 22.2, Tenant shall surrender possession and vacate the Demised Premises and immediately deliver possession thereof to Landlord in the condition for surrender otherwise required under this lease, and Landlord may reenter and take complete and peaceful possession of the Demised Premises, with or without process of law, full and complete license to do so being hereby granted to Landlord, and Landlord may remove all occupants and property therefrom, using such force as may be necessary, without being deemed in any manner guilty of trespass, eviction or forcible entry and detainer and without relinquishing Landlord's right to rentals or any other rights given to Landlord hereunder or by operation of law. (b) If Landlord terminates the right of Tenant to possession of the Demised Premises without terminating this lease, as provided for by subparagraph (d) of this Section 22.2, Landlord shall have the right to immediate recovery of all amounts then due hereunder. Such termination of possession shall not release Tenant, in whole or in part, from Tenant's obligation to pay all rentals hereunder for the full term of this lease, and Landlord shall have the right, from time to time, to recover from Tenant, and Tenant shall remain liable for, all minimum guaranteed rentals, Tenant's proportionate share of all real estate charges and insurance expenses. Tenant's proportionate share of the cost of operation and maintenance of the Common Area and any other sums accruing as they become due under this lease during the period from the date of such notice of termination of possession to the stated end of the term. In any such case Landlord may, without any obligation (except as otherwise required by applicable law), relet the Demised Premises or any part thereof for the account of Tenant for such rent, for such time (which may be for a term extending beyond the term of this lease) and upon such terms as Landlord shall determine and collect the rents from reletting. Landlord shall not be required to accept any tenant offered by Tenant or to observe any instructions given by Tenant relative to such reletting. Also, in any such case, Landlord may make repairs, alterations and additions in or to the Demised Premises and redecorate the same to the extent reasonably deemed by Landlord necessary or desirable and, in connection therewith, change the locks to the Demised Premises, and Tenant shall, upon demand, pay the reasonable cost of all the foregoing together with Landlord's reasonable expenses of reletting. The rents from any such reletting shall be applied first to the payment of the expenses of re-entry, redecoration, repair and alterations and the expenses of reletting, and second to the payment of rentals and other charges herein provided to be paid by Tenant. Any excess or residue shall operate only as an offsetting credit against the amount of rentals and other charges due and owing from Tenant hereunder as the same thereafter becomes due and payable, and the use of such offsetting credit to reduce the amount of rentals and other charges due Landlord, if any, shall not be deemed to give Tenant any right, title or interest in or to such excess or residue, and any such excess or residue shall belong to Landlord solely, and in no event shall Tenant be entitled to a credit on its indebtedness to Landlord in excess of the aggregate sum of rentals and other charges which would have been paid by Tenant for the period for which the credit to Tenant is being determined had no event of default hereunder occurred. No such re-entry or repossession, repairs, alterations and additions, or reletting shall be construed as an eviction of Tenant or as an election on Landlord's part to terminate this lease, unless written notice of such intention shall be given to Tenant, nor shall the same operate to release Tenant in whole or in part from any of Tenant's obligations hereunder, and Landlord may, at any time and from time to time, xxx and recover judgment for any deficiencies from time to time remaining after the application of the proceeds of any such reletting. (c) If this lease is terminated by Landlord as provided for by subparagraph (c) of Section 22.2, Landlord shall be entitled to recover from Tenant all rentals and other charges accrued and unpaid for the period up to and including such termination date as well as all other additional sums payable by Tenant or which Tenant is liable or in respect of which Tenant has agreed to indemnify Landlord under any of the provisions of this lease, which may be then owing and unpaid, together with all cost and expenses, including court costs and reasonable attorneys' fees, incurred by Landlord in the enforcement of its rights and remedies hereunder. In addition, Landlord shall be entitled to recover as damages for loss of the bargain and not as a penalty: (i) the unamortized portion of leasing commissions and Landlord's contribution to the cost of Tenant Improvements and alterations, if any, installed by either Landlord or Tenant pursuant to this lease: (ii) the aggregate sum which, at the time of such termination, represents the excess, if any, of the present value of the aggregate rentals and other charges which would have been payable after the termination date and for the balance of the term hereof to the extent this lease had not been terminated, over the then-present value of the then-aggregate fair rental value of the Demised Premises for the balance of such term (such present value to be computed in each case on the basis of eight percent (8%) per annum discount from the respective dates upon which such rentals would have been payable hereunder had this lease not been terminated); and (iii) any damages, in addition thereto, including reasonable attorneys' fees and court costs, which Landlord shall sustain by reason of the breach of any of the covenants of this lease other than the payment of rent. (d) All property of Tenant removed from the Demised Premises by Landlord pursuant to any provisions of this lease or of law may be handled, removed, demolished or stored by Landlord at the cost and expense of Tenant, and Landlord shall in no event be responsible for the value, preservation or safekeeping thereof. Tenant shall pay Landlord for all reasonable expenses incurred by Landlord in such removal and storage charges against such property so long as the same shall be in Landlord's possession or under Landlord's control. All such property not removed from the Demised Premises by Tenant on or before the end of term, however terminated (or on or before the earlier termination of Tenant's right of possession of the Demised Premises), shall, at Landlord's option be conclusively deemed to have been conveyed by Tenant to Landlord by xxxx of sale, without further payment or credit by Landlord to Tenant on account thereof. (e) Pursuit of any of the above remedies shall not preclude pursuit of any other remedies prescribed in other sections of this lease and any other remedies provided by law or in equity. Forbearance by Landlord to enforce one or more of the remedies herein provided upon event of default shall not be deemed or construed to constitute a waiver of such default. (f) It is expressly agreed that in determining "the monthly rentals and other charges provided in this lease," as that term is used throughout subsections 22.2(c)(i) and 22.2(c)(ii) above, there shall be added to the minimum guaranteed rental (as specified in Sections 1.1(i) and 4.1 of this lease) a sum equal to the charges for maintenance of the Common Area (as specified in Sections 1.1(m) and 7.4 of this lease), and the payments for taxes, charges and insurance (as specified in Article 6 of this lease). 22.4 It is further agreed that, in addition to payments required pursuant to subsections 22.2(b) and 22.2(c) above, Tenant shall compensate Landlord for all reasonable expenses incurred by Landlord in repossession (including, among other expenses, any increase in insurance premiums caused by the vacancy of the Demised Premises), all reasonable expenses incurred by Landlord in reletting (including, among other expenses, repairs, remodeling, replacements, advertisements and brokerage fees), all concessions granted to a new tenant upon reletting, all losses incurred by Landlord as a direct or indirect result of Tenant's default.

Appears in 1 contract

Samples: Industrial Complex Lease (Pilot Network Services Inc)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 22.1 The continuance beyond expiration of any applicable notice and cure periods (as set out below) of the following events shall be deemed to be events of default by Tenant under this lease: (a) Tenant shall fail to pay any installment of ~~rent~~ rental or any other obligation ~~herein~~ under this lease involving the payment of money ~~and such failure shall continue for a period of five (5) days after~~ on the date ~~due~~such payment shall become due and payable. (b) Tenant shall fail to comply with any ~~term,~~ provision ~~or covenant~~ of this ~~Lease~~lease, other than as described in subsection (a) above, and Tenant shall either (i) not cure such failure within fifteen (15) days after written notice thereof to ~~Tenant~~Tenant (or, where such default is not capable of being cured within such fifteen (15) day period, Tenant shall fail to commence said cure within such fifteen (15) day period and, using best efforts, diligently bring such cure to completion; provided, however, in no event shall Tenant have more than ninety (90) days to cure any such default); or (ii) cure that particular failure but shall again fail to comply with the same provision of this lease within three (3) months after Landlord's written notice; provided, however, that any such notice where prepared and delivered in accordance with Section 1161, et seq., of the California Code of Civil Procedure shall be in lieu of, and not in addition to, any notice required under Section 1161, et seq., of the California Code of Civil Procedure. (c) Tenant or any guarantor of Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition ~~for relief~~ under any section or chapter of the federal Bankruptcy Code, as amended, or under any similar ~~law,~~ law or ~~if such a petition~~ statute of the United States or any state thereof; or Tenant or any guarantor of Tenant's obligations under this lease shall be adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's obligations under this ~~lease~~lease thereunder. (e) A receiver or Trustee shall be appointed for the ~~demised premises~~ Demised Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this ~~Lease~~lease. (f) Tenant shall desert or vacate or shall commence to desert or vacate the ~~demised premises~~ Demised Premises or any substantial portion of the ~~demised premises~~ Demised Premises or at any time prior to the last month of the lease term shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial ~~value~~ amount of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Demised Premises or upon all or any part of the Industrial Complex. ~~17.2 A Security Deposit specified~~ (h) Any transfer of a substantial portion of the assets of Tenant, or any incurrence of a material obligation by Tenant, unless such transfer or obligation is undertaken or incurred in ~~Article I~~the ordinary course of Tenant's business or in good faith for equivalent consideration, ~~Section 1.1~~ or with Landlord's consent. (mi) ~~shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and~~ The default of any guarantors of Tenant's obligations hereunder under any guaranty of this Lease, ~~it being expressly understood that such deposit is not an advance payment of rental~~ or ~~a measure of Landlord’s damages in case of default by Xxxxxx. Upon~~ the ~~occurrence~~ attempted repudiation or revocation of any ~~event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use~~ such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Leaseguaranty. ~~17.3~~ 22.2 Upon the occurrence of any such ~~events~~ event of default, Landlord shall have the option to pursue any one or more of the following ~~remedy~~remedies to the extent permitted by law: (a) Without any further notice or demand whatsoever, Tenant shall be obligated to reimburse Landlord for the damages suffered by Landlord as a result of the event of default, plus interest on such amount at the maximum contractual rate which could legally be charged in the event of a loan of such amount to Tenant (but in no event to exceed 1-1/2% per month); and Landlord may pursue a monetary recovery from Tenant. (b) Without any further notice or demand whatsoever, Landlord may take any one or more of the actions permissible at law to insure performance by Tenant of Tenant's covenants and obligations under this lease. In this regard, and without limiting the generality of the immediately preceding sentence, it is agreed that if Tenant fails to open for business as required in this lease or, having opened for business, deserts or vacates the Demised Premises, Landlord may enter upon and take possession of such premises in order to protect them from deterioration and continue to demand from Tenant the monthly rentals and other charges provided in this lease, without any obligation to relet; however, if Landlord does, at its sole discretion, elect to relet the Demised Premises, such action by Landlord shall not be deemed an acceptance of Tenant's surrender of the Demised Premises unless Landlord expressly notifies Tenant of such acceptance in writing pursuant to this subsection (b), Tenant hereby acknowledging that Landlord shall otherwise be reletting as Tenant's agent and Tenant furthermore hereby agreeing to pay to Landlord on demand any deficiency that may arise between the monthly rentals and other charges provided in this lease and that actually collected by Landlord. In the event that Landlord shall elect to relet, then rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness (other than rent) due hereunder from Tenant to Landlord; second, to the payment of any cost of such reletting (including brokerage commissions); third, to the payment of the cost of any alterations and repairs to the Demised Premises; fourth, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. Should reletting, during any month to which such rent is applied, result in the actual payment of rentals at less than the rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord immediately upon demand therefor by Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting. Finally, it is agreed that in the event of any default described in subsection (g) of Section 22.1 of this lease, Landlord may pay or bond around such lien, whether or not contested by Tenant; and in such event Tenant agrees to reimburse Landlord on demand for all costs and expenses incurred in connection with any such action, with Tenant further agreeing that Landlord shall in no event be liable for any damages or claims resulting from such action. No action or inaction by Landlord including, without limitation, the re-entry or taking of possession of the Demised Premises by Landlord pursuant to this Section 22.2(b) shall be construed as an election to terminate this lease or as interference with Tenant's rights of possession, assignment or subletting unless a written notice of such election shall be given to Tenant or unless the termination thereof be decreed by a court of competent

Appears in 1 contract

Samples: Industrial Complex Lease (Apbiotech)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 19.1 The occurrence of any one or more of the following ~~events~~ shall each be ~~deemed to be events~~ a “Default” or an “Event of ~~default by Tenant~~ Default” under this ~~lease~~Lease: (a) Tenant shall fail to pay any ~~installment of rent or any other obligation herein involving the payment of money and such failure shall continue for a period of~~ sum due under this Lease within five (5) business days after ~~the date due.~~written notice thereof is provided by Landlord; or (b) Tenant shall fail to perform or comply with any nonmonetary term, ~~provision~~ covenant, agreement or ~~covenant of this Lease~~condition hereof and, ~~other than as described in subsection (a) above~~unless a different time period is specified for such obligation, ~~and shall not cure~~ such failure ~~within fifteen~~ shall continue for more than thirty (1530) days after receipt of written notice thereof from Landlord or such longer period of time as may reasonably be required, provided Tenant has commenced to ~~Tenant.~~cure such default within thirty (30) days and diligently prosecutes the same to completion, but no longer than ninety (90) days; or (c) Tenant or any ~~guarantor~~ Guarantor of Tenant's ’s obligations under this ~~lease shall become insolvent, or~~ Lease shall make a ~~transfer in fraud of creditors, or shall make an~~ general assignment for the benefit of creditors., or shall admit in writing its inability to pay its debts as they become due, or shall file a petition in bankruptcy, or shall be adjudicated a bankrupt or insolvent, or shall file a petition seeking any reorganization, arrangement, composition readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, or shall file an answer admitting or not contesting the material allegations of a petition against it in any such proceeding, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or any material part of its properties; or (d) if within sixty (60) days after the commencement of any proceeding against Tenant or any ~~guarantor of Tenant's obligations under this lease shall file a petition for~~ Guarantor seeking any reorganization, arrangement, composition, readjustment, liquidation or dissolution or similar relief under any ~~chapter~~ present or future statute, law or regulation, such proceeding shall not have been dismissed, or if, within sixty (60) days after the appointment without the consent or acquiescence of Tenant or any Guarantor, of any trustee, receiver or liquidator of Tenant, or of any material part of its properties, such appointment shall not have been vacated. This is a Project Lease as provided in Section 365(b)(3) of the Bankruptcy Code, ~~as amended, or any similar law, or if such a petition~~ 11 U.S.C. The notice and grace period provisions in subparagraphs (a) and (b) above shall ~~be filed against Tenant or any guarantor of Tenant's obligations under this lease~~have no application to the defaults referred to in subparagraphs (c) and (d) above. (e) A receiver or Trustee shall be appointed for the demised premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this Lease. (f) Tenant shall desert or vacate or shall commence to desert or vacate the demised premises or any substantial portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the premises. 17.2 A Security Deposit specified in Article I, Section 1.1 (m) shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. 19.2 Upon the occurrence of any ~~event~~ Event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease. 17.3 Upon the occurrence of any such events of defaultDefault, Landlord shall have ~~the option to pursue~~ all rights and remedies available at law or in equity and additionally, at any time thereafter, may exercise any one or more of the following ~~remedy~~specific remedies:

Appears in 1 contract

Samples: Lease Agreement (LifeMD, Inc.)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 22.1 The following events shall be deemed to be events of default by Tenant under this lease: : (a) Tenant shall fail to pay any installment of ~~rent~~ rental or any other obligation ~~herein~~ under this lease involving the payment of money and such failure shall continue for a period of ~~five~~ three (53) days after ~~the date due~~such payment shall become due and payable. (b) Tenant shall fail to comply with any ~~term,~~ provision ~~or covenant~~ of this ~~Lease~~lease, other than as described in subsection (a) above, and either shall not cure such failure within fifteen (15) days after written notice thereof to Tenant, or shall cure that particular failure but shall again fail to comply with the same provision of this lease within three (3) months after Landlord's written notice; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under Section 1161 etsea. of the California Code of Civil Procedure. (c) Tenant or any guarantor of Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition ~~for relief~~ under any section or chapter of the federal Bankruptcy Code, as amended, or under any similar ~~law,~~ law or ~~if such a petition~~ statute of the United States or any state thereof; or Tenant or any guarantor of Tenant's obligations under this lease shall be adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's obligations under this ~~lease~~lease thereunder. (e) A receiver or Trustee shall be appointed for the ~~demised premises~~ Demised Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this ~~Lease~~lease. (f) Tenant shall desert or vacate or shall commence to desert or vacate the ~~demised premises~~ Demised Premises or any substantial portion of the ~~demised premises~~ Demised Premises or at any time prior to the last month of the lease term shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial ~~value~~ amount of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Demised Premises or upon all or any part of the Complex. ~~17.2 A Security Deposit specified~~ (h) Any transfer of a substantial portion of the assets of Tenant, or any incurrence of a material obligation by Tenant, unless such transfer or obligation is undertaken or incurred in ~~Article I~~the ordinary course of Tenant's business or in good faith for equivalent consideration, ~~Section 1.1~~ or with Landlord's consent. (mi) ~~shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and~~ The default of any guarantors of Tenant's obligations hereunder under any guaranty of this Lease, ~~it being expressly understood that such deposit is not an advance payment of rental~~ or ~~a measure of Landlord’s damages in case of default by Xxxxxx. Upon~~ the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense attempted repudiation or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease. 17.3 Upon the occurrence revocation of any such ~~events of default, Landlord shall have the option to pursue the following remedy:~~guaranty.

Appears in 1 contract

Samples: Modified Industrial Complex Lease (Network Installation Corp)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 16.1 The following events shall be deemed to be events of default by Tenant under this lease: (a) Tenant shall fail to pay any installment of rent or any other obligation herein involving the payment of money and such failure shall continue for a period of five (5) days after the date due. (b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than as described in subsection (a) above, and shall not cure such failure within fifteen (15) days after written notice thereof to Tenant. (c) Tenant or any guarantor of Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition for relief under any chapter of the Bankruptcy Code, as amended, or any similar law, or if such a petition shall be filed against Tenant or any guarantor of Tenant's obligations under this lease. (e) A receiver or Trustee shall be appointed for the demised premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this Lease. (f) Tenant shall desert or vacate or shall commence to desert or vacate the demised premises or any substantial portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the premises. 17.2 A Security Deposit specified in Article I, Section 1.1 (m) shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease. 17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue the following remedy:

Appears in 1 contract

Samples: Commercial Lease

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 22.1 The following events ~~shall~~ will be deemed to be events of default by Tenant under this ~~lease~~Lease: (a) Tenant ~~shall fail~~ fails to pay any installment of rent or any other obligation ~~herein~~ under this Lease involving the payment of money and such failure ~~shall continue~~ continues for a period of ~~five~~ ten (510) days after written notice thereof to Tenant; provided, however, that for any twelve (12) month period during which Landlord has already given Tenant one written notice of the failure to pay an installment of rent, no further notice will be required (i.e., the event of default will automatically occur on the tenth day after the date upon which the rent was due). (b) Tenant ~~shall fail~~ fails to comply with any ~~term,~~ provision ~~or covenant~~ of this Lease, other than as described in ~~subsection~~ Subsection (a) ), above, and ~~shall~~ either does not cure such failure within fifteen (15) days after written notice thereof to Tenant, or cures that particular failure but again fails to comply with the same provision of the Lease within three months after Landlord's written notice. (c) Tenant or any guarantor of Tenant's obligations under this ~~lease shall become~~ Lease becomes insolvent, or ~~shall make~~ makes a transfer in fraud of creditors, or ~~shall make~~ makes an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this ~~lease shall file~~ Lease files a petition ~~for relief~~ under any section or chapter of the federal Bankruptcy Code, as amended, or under any similar ~~law,~~ law or ~~if such a petition shall be~~ statute of the United States or any state thereof; or Tenant or any guarantor of Tenant's obligations under this Lease is adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's obligations under this ~~lease~~Lease thereunder. (e) A receiver or Trustee ~~shall be~~ is appointed for the ~~demised premises~~ Demised Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's ~~obligations~~ obligation under this Lease. (f) Tenant ~~shall desert~~ deserts or ~~vacate~~ vacates or ~~shall commence~~ commences to desert or vacate the ~~demised premises~~ Demised Premises or any substantial portion of the ~~demised premises~~ Demised Premises or ~~shall remove~~ at any time prior to the last month of the lease term removes or ~~attempt~~ attempts to remove, without the prior written consent of Landlord, all or a substantial ~~value~~ amount of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant ~~shall do~~ does or ~~permit~~ permits to be done anything which creates a lien upon the ~~premises~~all or any part of the Demised Premises. ~~17.2 A Security Deposit specified in Article I, Section 1.1~~ (mh) ~~shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not~~ Tenant makes an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination anticipatory breach of this Lease. The term "anticipatory breach" means either (1 ) Tenant's repudiation of this Lease in writing, or (2) the combination of (i) Tenant's desertion or vacation or commencement of desertion or vacation of the Demised Premises or removal of all or a substantial amount of Tenant's equipment, fixtures, furniture, or other personal property from the Demised Premises, and (ii) Tenant's failure to pay any Base Rent or other amounts due under this Lease as and when they are due and payable. ~~17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue the following remedy:~~

Appears in 1 contract

Samples: Building Lease (First Surgical Partners Inc.)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 18.1 The following events shall be deemed to be events of default by Tenant under this ~~lease~~Lease: (a) Tenant shall fail to pay any installment of rent or any other ~~obligation~~ expense demanded by Landlord when due as herein ~~involving the payment~~ provided. Tenant will have 30 days to cure any rent installments or expenses that are due to Landlord. If not cured than Tenant is considered in Default of ~~money and such failure shall continue for a period of five (5) days after the date due~~this lease. (b) Tenant shall fail to comply with any term, provision or covenant of in this Lease, other than ~~as described in subsection (a) above,~~ the payment of rent or expenses demanded by Landlord and shall not cure such failure within ~~fifteen~~ ten (1510) days after receiving written notice ~~thereof to Tenant~~there from Landlord. (c) Tenant or any guarantor of Tenant's ’s obligations under this ~~lease~~ Lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant~~'s obligations~~ ’s obligation under this ~~lease~~ Lease shall file a petition ~~for relief~~ under any section or chapter of the National Bankruptcy ~~Code~~Act, as amended, or under any similar ~~law,~~ law or ~~if such a petition~~ statute of the United States or any State thereof; or Tenant or any guarantor of Tenant’s obligations under this Lease shall be adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's ’s obligations under this ~~lease~~Lease. (e) A receiver or Trustee shall be appointed for ~~the demised premises or for~~ all or substantially all of the assets of the Tenant or any guarantor of Tenant's ’s obligations under this Lease. (f) Tenant shall desert or vacate ~~or shall commence to desert or vacate the demised premises or~~ any ~~substantial~~ portion of the ~~demised premises~~ Demised Premises for any period, or ~~shall remove~~ Tenant shall, for a period of thirty (30) days or ~~attempt~~ more, fail to ~~remove, without~~ occupy the ~~prior written consent of Landlord, all~~ Demised Premises or a substantial ~~value of Tenant's goods, wares, equipment, fixtures, furniture,~~ portion thereof or ~~other personal property~~fail to be open for business. (g) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Demised Premises. ~~17.2 A Security Deposit specified in Article I, Section 1.1~~ (mh) The Business operated by Tenant shall be ~~held by Landlord without interest as security for~~ closed or the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall ~~pay~~ be prohibited to ~~Landlord on demand~~ occupy the ~~amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein,~~ Demised Premises by any ~~remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease~~governmental agency. ~~17.3~~ 18.2 Upon the occurrence of any such events of default, Landlord shall have the option to pursue any one or more of the following ~~remedy~~remedies without any notice or demand whatsoever: (a) Terminate this Lease in which event Tenant shall immediately surrender the Demised Premises to Landlord. (b) Repossess the Demised Premises without Terminating the Lease. 18.3 In the event Landlord elects to terminate the Lease by reason of an event of default, then notwithstanding such termination, Tenant shall be liable for, and shall pay to Landlord, at the address specified for notice to Landlord, the sum of all rental and other indebtedness accrued to date of such termination plus, as damage, an amount equal to the difference between (I) the total rental including Annual Base Rent, Tenant’s Proportionate Share of Taxes and Insurance for the remaining portion of the Lease term (had such term not been terminated by Landlord prior to the date of expiration stated in Article I); and (2) the then-present value of the then-fair rental value of the Demised Premises for such period. If the parties dispute the amount calculated as Tenant’s Proportionate Share of Taxes and Insurance or the amount of calculated as the then-present value of the then-fair rental value of the Demised Premises for such period, the determination of these amounts by an accountant appointed by the Landlord shall be conclusive and binding upon the parties. 18.4 In the event that Landlord elects to repossess the Demised Premises without terminating the Lease, then Tenant shall be liable for and shall pay to Landlord, at the address specified for notice to Landlord, all rental and other indebtedness accrued to the date of such repossession, plus, as damage, an amount equal to the total rent including Annual Base Rent, Tenant’s Proportionate Share of Taxes and Insurance for the remainder of the Lease term until the date of expiration of the term as stated in Article I diminished by any net sums thereafter received by Landlord through re-letting the Demised Premises during said period (after deducting expenses incurred by Landlord as provided in Article XVIII, Section 18.5 hereof). In no event shall Tenant be entitled to any excess of any rental obtained by re-letting over and above the rental herein reserved. Actions to collect amounts due from Tenant to Landlord may be brought from time to time on one or more occasions, without the necessity of Landlord’s waiting until expiration of the Lease term. 18.5 In case of any event of default or breach by Tenant, Tenant shall also be liable for and shall pay to Landlord, at the address specified for notice herein, in addition to any sum provided to be paid above, brokers fees incurred by Landlord in connection with re-letting the whole or part of the Demised Premises; the costs of removing and storage of Tenant’s or other occupant’s property; the cost of repairing, altering, remodeling or otherwise putting the Demised Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in enforcing or defending Landlord’s rights and/or remedies, including reasonable attorneys’ fees. 18.6 In the event of termination or repossession of the Demised Premises for an event of default, Landlord shall not have any obligation to re-let or attempt to re-let the Demised Premises, or any portion thereof, or to collect rental after re-letting; Landlord may re-let the whole or any portion of the Demised Premises for any period, to any tenant, and for any use and purpose. 18.7 If Tenant should fail to make any payment or cure any default hereunder within the time herein permitted, Landlord, without being under any obligations to do so and without waiving such default, may make such payment and/or remedy such other default for the account of Tenant (and enter the Demised Premises for such purpose), and thereupon Tenant shall be obligated to, and agrees to, pay Landlord, as additional rent, upon demand, all costs, expenses and disbursements (including reasonable attorneys’ fees) incurred by the Landlord in taking such remedial action. 18.8 In the event that Landlord shall have taken possession of the Demised Premises pursuant to the authority herein granted, Landlord shall also have the right to remove from the Demised Premises (without the necessity of obtaining a distress warrant, writ of sequestration or other legal process) all or any portion of such furniture, fixtures, equipment and other property located thereon and place same in storage at any premises within the County in which the Demised Premises is located; and in such event, Tenant shall be liable to Landlord for costs incurred by Landlord in connection with such removal and storage. 18.9 Landlord may collect any money due Landlord by Tenant from the security deposit or by distress, or otherwise, and election of one remedy under this Agreement does not preclude any other remedy herein provided. All remedies provided for by this Lease are in addition to all those available to Landlord by statute or law. Tenant expressly waives the service of any demand for the payment of rent or for possession, and the service of any notice of Lessor’s election to terminate the Lease or to re-enter the Demised Premises, except as otherwise provided in the Lease, including any and every form of demand and notice prescribed by statute or other law.

Appears in 1 contract

Samples: Commercial Lease (Authentec Inc)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 22.1 The following events ~~shall~~ will be deemed to be events of default by Tenant under this lease: (a) Tenant ~~shall fail~~ fails to pay any installment of ~~rent~~ rental or any other obligation ~~herein~~ under this lease involving the payment of money and such failure ~~shall continue~~ continues for a period of ~~five~~ ten (510) days after written notice thereof to Tenant; provided, however, that for each calendar year during which Landlord has already given Tenant one written notice of the failure to pay an installment of rental or other obligation under this lease involving the payment of money, no further notice will be required (i.e., the event of default will automatically occur on the tenth day after the date upon which the rental was due). (b) Tenant ~~shall fail~~ fails to comply with any ~~term,~~ provision ~~or covenant~~ of this ~~Lease~~lease, other than as described in ~~subsection~~ Subsection (a) above, and ~~shall~~ following notice thereof to Tenant (i) does not promptly commence and diligently pursue the cure of such failure to completion, or (ii) fails to cure such failure within fifteen (15) days after ~~written~~ such notice ~~thereof~~ to Tenant, or (iii) cures that particular failure but again fails to comply with the same provision of this lease within three (3) months after such notice to Tenant. (c) Tenant or any guarantor of Tenant's ’s obligations under this lease ~~shall become~~ becomes insolvent, or ~~shall make~~ makes a transfer in fraud of creditors, or ~~shall make~~ makes an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's ’s obligations under this lease ~~shall file~~ files a petition ~~for relief~~ under any section or chapter of the federal Bankruptcy Code, as amended, or under any similar ~~law,~~ law or ~~if such a petition shall be~~ statute of the United States or any state thereof; or Tenant or any guarantor of Tenant’s obligations under this lease is adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's ’s obligations under this ~~lease~~lease thereunder. (e) A receiver or Trustee ~~shall be~~ is appointed for the ~~demised premises~~ Demised Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant~~'s obligations~~ ’s obligation under this ~~Lease~~lease. (f) Tenant ~~shall desert~~ deserts or ~~vacate~~ vacates or ~~shall commence~~ commences to desert or vacate the ~~demised premises~~ Demised Premises or any substantial portion of the ~~demised premises~~ Demised Premises or ~~shall remove~~ at any time prior to the last month of the lease term removes or ~~attempt~~ attempts to remove, without the prior written consent of Landlord, all or a substantial ~~value~~ amount of Tenant's ’s goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant ~~shall do~~ does or ~~permit~~ permits to be done anything which creates a lien upon the ~~premises~~Demised Premises or upon all or any part of the Project. ~~17.2 A Security Deposit specified~~ (h) Tenant makes an anticipatory breach of this lease. The term “anticipatory breach” means either (a) Tenant’s repudiation of this lease in ~~Article I~~writing, ~~Section 1.1~~ or (mb) ~~shall be held by Landlord without interest as security for~~ the ~~performance by Xxxxxx~~combination of (i) Tenant’s ~~covenants~~ desertion or vacation or commencement of desertion or vacation of the Demised Premises or removal of all or a substantial amount of Tenant’s goods, wares, equipment, fixtures, furniture, or other personal property from the Demised Premises, and ~~obligations~~ (ii) Tenant’s failure to pay any minimum guaranteed rent or other amounts due under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent lease as and ~~any other damage, injury, expense or liability caused to Landlord by such event of default~~ when they are due and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Leasepayable. ~~17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue the following remedy:~~

Appears in 1 contract

Samples: Office Lease (Quality Systems Inc)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 18.1. The following events shall be deemed to be defaults or events of default by Tenant under this ~~lease~~Lease: (a) Tenant shall fail to pay any installment of ~~rent~~ rental or any other ~~obligation herein involving the payment of money and such failure shall continue for a period of~~ expense within five (5) days after ~~the date due~~receiving written notice thereof from Landlord. (b) Tenant shall fail to comply with any term, provision or covenant of in this Lease, other than ~~as described in subsection (a) above,~~ the payment of rental or expenses demanded by Landlord and shall not cure such failure within ~~fifteen~~ twenty (1520) days after receiving written notice thereof from Landlord; provided however if Tenant is diligently pursuing a cure Tenant shall have an additional reasonable time to ~~Tenant~~effect a cure. (c) Tenant or any guarantor of ~~Tenant's~~ Tenants obligations under this ~~lease~~ Lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this ~~lease~~ Lease shall file a petition ~~for relief~~ under any section or chapter of the National Bankruptcy ~~Code~~Act, as amended, or under any similar ~~law,~~ law or ~~if such a petition~~ statute of the United States or any State thereof; or Tenant or any guarantor of Tenant's obligations under this Lease shall be adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's obligations under this ~~lease~~Lease and such proceedings such adjudication shall have continued for a period of thirty (30) days. (e) A receiver or Trustee shall be appointed for ~~the demised premises or for~~ all or substantially all of the assets of the Tenant or any guarantor of Tenant's obligations under this ~~Lease~~Lease and such appointment shall have continued for a period of thirty (30) days. (f) Tenant shall desert or vacate the Demised Premises, or ~~shall commence~~ Tenant shall, for a period of thirty (30) days or more, fail to ~~desert or vacate~~ occupy the ~~demised premises or any substantial portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all~~ Demised Premises or a substantial ~~value of Tenant's goods, wares, equipment, fixtures, furniture,~~ portion thereof or ~~other personal property~~fail to be open for business. (g) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Demised Premises and such lien is not released or bonded off within fifteen (15) days. ~~17.2 A Security Deposit specified in Article I, Section 1.1~~ (mh) The Tenant shall be ~~held~~ prohibited to occupy the Demised Premises by Landlord without interest as security for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Leasegovernmental agency. ~~17.3~~ 18.2. Upon the occurrence of any such events of default, Landlord shall have the option to pursue any one or more of the following ~~remedy~~remedies without any notice or demand whatsoever: (a) Terminate this Lease in which event Tenant shall immediately surrender the Demised Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which he may have for possession or arrearages in rental, enter upon and take possession of the Demised Premises and expel or remove Tenant and any other person who may be occupying said premises or any part thereof, under process of law, without being liable for prosecution or any other claim of damages. (b) Enter upon and take possession of the Demised Premises and expel or remove Tenant and any other person who may be occupying said premises or any part, under process of law, without being liable for prosecution or any claim for damages with or without having terminated the Lease. (c) Enter upon the Demised Premises by force, if necessary, without being liable for prosecution or any claim for damages, and do whatever Tenant is obligated to do under the terms of this Lease, and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in effecting compliance with Tenant's obligations under this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to the Tenant from such action. 18.3. In the event Landlord elects to terminate the Lease by reason of an event of default, then notwithstanding such termination, Tenant shall be liable for, and shall pay to Landlord, at the address specified for notice to Landlord, the sum of all rental and other indebtedness accrued to date of such termination plus, as damage, an amount equal to the difference between (i) the total rental including Annual Base Rent, Tenant's Proportionate Share of Operating Expenses and Tax Escrow Payments for the remaining portion of the Lease term (had such term not been terminated by Landlord prior to the date of expiration stated in ARTICLE I); and (ii) the then-present value of the fair rental value of the Demised Premises for such period. 18.4. In the event that Landlord elects to repossess the Demised Premises without terminating the Lease, then Tenant shall be liable for and shall pay to Landlord, at the address specified for notice to Landlord, all rental and other indebtedness accrued to the date of such repossession, plus, as damage, an amount equal to the total rent including Annual Base Rent, Tenant's Proportionate Share of Operating Expenses and Tax Escrow Payments for the remainder of the Lease term until the date of expiration of the term as stated in ARTICLE I diminished by any net sums thereafter received by Landlord through reletting the Demised Premises during said period (after deducting expenses incurred by Landlord as provided in ARTICLE XVIII, SECTION 18.5 hereof). In no event shall Tenant be entitled to any excess of any rental obtained by reletting over and above the rental herein reserved. Actions to collect amounts due from tenant to Landlord may be brought from time to time on one or more occasions, without the necessity of Landlord's waiting until expiration of the Lease term. 18.5. In case of any event of default or breach by Tenant, Tenant shall also be liable for and shall pay to Landlord, at the address specified for notice herein, in addition to any sum provided to be paid above, brokers fees incurred by Landlord in connection with reletting the whole or part of the Demised Premises (with the amount of the broker's fee to be amortized so that the Tenant's portion will reflect the amount applicable over the period which would have constituted the unexpired portion of the Term; the costs of removing and storing Tenant's or other occupant's property; the cost of repairing, altering, remodeling or otherwise putting the Demised Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in enforcing or defending Landlord's rights and/or remedies, including reasonable attorneys' fees which shall not be less than fifteen percent (15%) of all sums then owing by Tenant to Landlord. 18.6. In the event of termination or repossession of the Demised Premises for an event of default, Landlord shall use commercially reasonable efforts to relet or attempt to relet the Demised Premises, or any portion thereof, or to collect rental after reletting. Landlord may relet the whole or any portion of the Demised Premises for any period, to any Tenant, and for any use and purpose. 18.7. If Tenant should fail to make any payment or cure any default hereunder within the time herein permitted, Landlord, without being under any obligations to do so and without waiving such default, may make such payment and/or remedy such other default for the account of Tenant (and enter the Demised Premises for such purpose), and thereupon Tenant shall be obligated to, and agrees to, pay Landlord, as additional rent, upon demand, all costs, expenses and disbursements (including reasonable attorneys' fees) incurred by the Landlord in taking such remedial action. 18.8. In the event that Landlord shall have taken possession of the Demised Premises pursuant to the authority herein granted, then Landlord shall have the right to remove from the Demised Premises (without the necessity of obtaining a distress warrant, writ of sequestration or other legal process) all or any portion of such furniture, fixtures, equipment and other property located thereon and place same in storage at any premises within the County in which the Demised Premises is located; and in such event, Tenant shall be liable to Landlord for costs incurred by Landlord in connection with such removal and storage and shall indemnify and hold harmless Landlord from all loss, damage, cost, expense and liability in connection with such removal and storage. Landlord shall also have the right to relinquish possession of all or any portion of such furniture, fixtures, equipment and other property to any person ("Claimant") claiming to be entitled to possession thereof who presents to Landlord a copy of any instrument represented to Landlord by Claimant to have been executed by Tenant (or any predecessor of Tenant) granting Claimant the right under various circumstances to take possession of such furniture, fixtures, equipment or other property, without the necessity on the part of Landlord to inquire into the authenticity of said instrument's copy of Tenant's or Tenant's predecessor's signature thereon and without the necessity of Landlord's making any nature of investigation or inquiry as to the validity of the factual or legal basis upon which Claimant purports to act; and Tenant agrees to indemnify and hold Landlord harmless from all costs, expense, loss, damage, and liability incident to Landlord's relinquishment of possession of all or any portion of such furniture, fixtures, equipment or other property by Claimant. The rights of Landlord herein stated shall be in addition to any and all other rights which Landlord has or may hereafter have at law or in equity; and Tenant stipulates and agrees that the rights herein granted Landlord are commercially reasonable.

Appears in 1 contract

Samples: Commercial Lease (Streamline Com Inc)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 22.1 The following events shall be deemed to be events of default by Tenant under this lease: (a) Tenant shall fail to pay any installment of ~~rent~~ rental or any other obligation ~~herein~~ under this lease involving the payment of money and such failure shall continue for a period of five (5) business days after written notice thereof to Tenant; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under Sections 1161, ET SEQ., of the ~~date due~~California Code of Civil Procedure, so long as such notice conforms to the requirements of such Sections 1161, ET SEQ. (b) Tenant shall fail to comply with any ~~term,~~ provision ~~or covenant~~ of this ~~Lease~~lease, other than as described in subsection (a) above, and either shall not cure such failure within ~~fifteen~~ twenty (1520) days after written notice thereof to ~~Tenant~~Tenant (or, if such failure is not curable within twenty (20) days, Tenant shall not promptly commence such cure and thereafter diligently prosecute such cure to completion); provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under Sections 1161 ET SEQ. of the California Code of Civil Procedure, so long as such notice conforms to the requirements of such Sections 1161, ET SEQ. (c) Tenant or any guarantor of Tenant's obligations under this lease shall become ~~insolvent~~unable to pay its bills as they become due, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition ~~for relief~~ under any section or chapter of the federal Bankruptcy Code, as amended, or under any similar ~~law,~~ law or ~~if such a petition~~ statute of the United States or any state thereof; or Tenant or any guarantor of Tenant's obligations under this lease shall be adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's obligations under this ~~lease~~lease thereunder. (e) A receiver or ~~Trustee~~ trustee shall be appointed for the ~~demised premises~~ Demised Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this ~~Lease~~lease. (f) Tenant shall ~~desert or vacate or shall commence to desert or~~ vacate the ~~demised premises~~ Demised Premises or any substantial portion of the ~~demised premises~~ Demised Premises or at any time prior to the last month of the lease term shall ~~remove or attempt to~~ remove, without the prior written consent of Landlord, all or a substantial ~~value~~ amount of Tenant's ~~goods, wares,~~ equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Demised Premises or upon all or any part of the Industrial Complex unless such lien is discharged to Landlord's reasonable satisfaction by payment or bonding upon the earliest to occur of: (i) one hundred twenty (120) days following imposition of such lien; (ii) within five (5) business days of Landlord's written notification to Tenant that the Building, Phase II or the Industrial Complex is the subject of a sale, potential sale, financing or potential financing necessitating the removal of the lien; or (iii) prior to commencement of an action for foreclosure of the lien. ~~17.2 A Security Deposit~~ (h) Any transfer of a substantial portion of the assets of Tenant, or any incurrence of a material obligation by Tenant, unless such transfer or obligation is undertaken or incurred in the ordinary course of Tenant's business or in good faith for equivalent consideration, or with Landlord's consent. (i) The default of any guarantors of Tenant's obligations hereunder under any guaranty of this Lease, or the attempted repudiation or revocation of any such guaranty. 22.2 Upon the occurrence of any such event of default, Landlord shall have the option to pursue any one or more of the following remedies to the extent permitted by law: (a) Without any further notice or demand whatsoever, Tenant shall be obligated to reimburse Landlord for the damages suffered by Landlord as a result of the event of default, plus interest on such amount at the maximum contractual rate which could legally be charged in the event of a loan of such amount to Tenant (but in no event to exceed 1-1/2% per month); and Landlord may pursue a monetary recovery from Tenant. (b) Without any further notice or demand whatsoever, Landlord may take any one or more of the actions permissible at law to insure performance by Tenant of Tenant's covenants and obligations under this lease. In this regard, and without limiting the generality of the immediately preceding sentence, it is agreed that if Tenant fails to open for business as required in this lease or, having opened for business, deserts or vacates the Demised Premises, Landlord may enter upon and take possession of such premises in order to protect them from deterioration and continue to demand from Tenant the monthly rentals and other charges provided in this lease, without any obligation to relet; however, if Landlord does, at its sole discretion, elect to relet the Demised Premises, such action by Landlord shall not be deemed an acceptance of Tenant's surrender of the Demised Premises unless Landlord expressly notifies Tenant of such acceptance in writing pursuant to this subsection (b), Tenant hereby acknowledging that Landlord shall otherwise be reletting as Tenant's agent and Tenant furthermore hereby agreeing to pay to Landlord on demand any deficiency that may arise between the monthly rentals and other charges provided in this lease and that actually collected by Landlord. In the event that Landlord shall elect to relet, then rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness (other than rent) due hereunder from Tenant to Landlord; second, to the payment of any cost of such reletting (including brokerage commissions); third, to the payment of the costs of any alterations to the Demised Premises required for such reletting and repairs to the Demised Premises; fourth, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. Should reletting, during any month to which such rent is applied, result in the actual payment of rentals at less than the rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord immediately upon demand therefor by Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting. Finally, it is agreed that in the event of any default described in subsection (g) of Section 22.1 of this lease, Landlord may pay or bond around such lien, whether or not contested by Tenant; and in such event Tenant agrees to reimburse Landlord on demand for all costs and expenses incurred in connection with any such action, with Tenant further agreeing that Landlord shall in no event be liable for any damages or claims resulting from such action. No action or inaction by Landlord including, without limitation, the re-entry or taking of possession of the Demised Premises by Landlord pursuant to this Section 22.2(b) shall be construed as an election to terminate this lease or as interference with Tenant's rights of possession, assignment or subletting unless a written notice of such election shall be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any reletting without termination by Landlord, Landlord may, at any time after such reletting, elect to terminate this lease for any such default. (c) Landlord may terminate this lease by written notice to Tenant, in which event Tenant shall immediately surrender the Demised Premises to Landlord. In the event that Landlord shall elect to so terminate this lease, then Landlord may recover from Tenant: (i) The worth at the time of award of any unpaid rent which had been earned at the time of such termination; plus (ii) The worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves reasonably could have been avoided; plus (iii) The worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves reasonably could be avoided; plus (iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's failure to perform its obligations under this lease or which in the ordinary course would be likely to result therefrom, plus (v) At Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable California law. As used in subparagraphs (i) and (ii) above, the "worth at the time of award" is computed by allowing interest at the maximum rate permitted by law. As used in subparagraph (iii) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). Forbearance by Landlord to enforce one or more of the remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of such default. Tenant hereby waives for Tenant and for all those claiming under Tenant all right now or hereafter existing to redeem by order or judgment of any court or by any legal process or writ, Tenant's right of occupancy of the Demised Premises after any termination of this lease. (d) In addition to all other rights and remedies provided Landlord in this lease and by law, Landlord shall have the remedy described in California Civil Code Section 1951.4 (Landlord may continue the lease in effect after Tenant's breach and abandonment and recover rent as it becomes due if Tenant has the right to sublet or assign the lease, subject to reasonable limitations). 22.3 It is expressly agreed that in determining "the unpaid rent" as that term is used throughout subsections 22.2(c)(i) and 22.2(c)(ii) above, there shall be added to the minimum guaranteed rental (as specified in Sections 1.1(l) and 4.1 of this lease) a sum equal to the charges for maintenance of the Common Area (as specified in Sections 1.1(m) and 7.4 of this lease), and the payments for taxes, charges and insurance (as specified in Article I6 of this lease). 22.4 It is further agreed that, in addition to payments required pursuant to subsections 22.2(b) and 22.2(c) above, Tenant shall compensate Landlord for all expenses incurred by Landlord in repossession (including, among other expenses, any increase in insurance premiums caused by the vacancy of the Demised Premises), all expenses incurred by Landlord in reletting (including, among other expenses, repairs, remodeling, replacements, advertisements and brokerage fees), all concessions granted to a new tenant upon reletting (including, among other concessions, renewal options), all losses incurred by Landlord as a direct result of Tenant's default and a reasonable allowance for Landlord's administrative efforts, salaries and overhead attributable directly or indirectly to Tenant's default and Landlord's pursuing the rights and remedies provided herein and under applicable law. 22.5 Landlord may restrain or enjoin any breach or threatened breach of any covenant, duty or obligation of Tenant herein contained without the necessity of proving the inadequacy of any legal remedy or irreparable harm. The remedies of Landlord hereunder shall be deemed cumulative and not exclusive of each other. 22.6 If there is any legal, equitable or dispute resolution action or proceeding between Landlord and Tenant to enforce any provision of this lease or to protect or establish any right or remedy of either Landlord or Tenant hereunder, the unsuccessful party to such action or proceeding will pay to the prevailing party all costs and expenses, including reasonable attorneys' fees, incurred by such prevailing party in such action or proceeding and in any appeal in connection therewith, and if such prevailing party recovers a judgment in any such action, proceeding or appeal, such costs, expenses and attorneys' fees will be determined by the court or arbitration panel handling the proceeding and will be included in and as a part of such judgment. (a) Tenant acknowledges its obligation to deposit with Landlord the sum stated in Section ~~1.1 (m~~1.1(o) ~~shall~~ above, to be held by Landlord without interest as security for the performance by ~~Xxxxxx’s~~ Tenant of Tenant's covenants and obligations under this ~~Lease, it being expressly understood~~ lease. Tenant agrees that such deposit may be commingled with Landlord's other funds and is not an advance payment of rental or a measure of Landlord’s 's damages in case of default by ~~Xxxxxx~~Tenant. Upon the occurrence of any event of default by ~~Tenant~~Tenant that is not cured within applicable notice and cure periods, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such ~~fund~~ funds to the extent necessary to make good any arrears of ~~rent~~ rentals and any other damage, injury, expense or liability caused to Landlord by such event of ~~default~~ default, and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default ~~herein~~hereunder, any remaining balance of such deposit shall be returned by Landlord to Tenant ~~upon~~ within thirty (30) days following termination of this ~~Lease. 17.3 Upon~~ lease (subject to the ~~occurrence~~ provisions of ~~any such events~~ Section 19.6 above). Tenant hereby waives the protections of ~~default, Landlord shall have the option to pursue the following remedy:~~Section 1950.7

Appears in 1 contract

Samples: Industrial Complex Lease (Aerobic Creations, Inc.)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 19.1 The following events shall be deemed to be events of default by Tenant under this ~~lease~~Lease: (aA) The failure by Tenant ~~shall fail~~ to ~~pay~~ make any ~~installment~~ payment of ~~rent~~ Minimum Rent, Additional Rent, Monthly Rent or any other ~~obligation herein involving the~~ payment ~~of money~~ required to be made by Tenant hereunder (collectively, “Rent”), when due, and such failure shall continue for a period of five (5) days after written notice from Landlord to Tenant that the ~~date due.~~same is due and payable or if notice has been given on two (2) occasions of default within a twelve (12) month period as provided by Section 4.4 hereof; or (bB) The failure by Tenant ~~shall fail~~ to ~~comply with~~ observe or perform any ~~term~~of the non-monetary covenants, ~~provision~~ conditions or ~~covenant~~ provisions of this ~~Lease~~Lease to be observed or performed by Tenant, other than ~~as described in subsection~~ Paragraph (aA) above, ~~and shall not cure~~ where such failure ~~within fifteen~~ shall continue for a period of thirty (1530) days after written notice thereof from Landlord to Tenant.; or (cC) The insolvency of the Tenant or ~~any guarantor~~ the execution by Tenant of ~~Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make~~ an assignment for the benefit of ~~creditors.~~creditor; or (dD) The filing by or for reorganization or arrangement by Tenant ~~or any guarantor of Tenant's obligations under this lease shall file a petition for relief~~ under any ~~chapter of the Bankruptcy Code, as amended,~~ law relating to bankruptcy or ~~any similar law, or if such a petition shall be filed against Tenant or any guarantor of Tenant's obligations under this lease.~~insolvency; or (eE) A The appointment of a receiver or ~~Trustee shall be appointed for the demised premises or for all or~~ trustee to take possession of substantially all of Tenant’s assets located at the ~~assets of Tenant~~ Premises or ~~any guarantor~~ of Tenant~~'s obligations under~~ ’s interest in this Lease~~. (f) Tenant shall desert~~ ; or vacate or shall commence to desert or vacate the demised premises or any substantial portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the premises. 17.2 A Security Deposit specified in Article I, Section 1.1 (m) shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease. 17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue any one or more of the following ~~remedy:~~remedies without any notice or demand whatsoever. A. Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which Landlord may have for possession or arrearage in rent, enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying said Premises or any part thereof, without being liable for prosecution or any claim of damages therefore; and Tenant agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of such termination, whether through inability to relet the perm on satisfactory terms or otherwise. B. Enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying said Premises or any part thereof, without being liable for prosecution or any claim for damages therefore, and, if Landlord so elects, relet the Premises on such terms as Landlord may deem advisable and receive the rent therefore; and Tenant agrees to pay to Landlord on demand any deficiency that may arise by reason of such reletting. No re-entry or re-taking possession of the Premises by Landlord shall be construed as an election to terminate this Lease, unless Landlord furnishes to Tenant a written notice of termination. C. Enter upon the Premises, without being liable for prosecution or any claim for damages therefore, and do whatever Tenant is obligated to do under the terms of this Lease; and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in this effecting compliance with Tenant’s obligation under this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to the Tenant from such action. D. Enter upon the Premises and post a “For Rent” sign. E. Accelerate the maturity of all Rent then due or that would come due through the Lease Term (but excluding any Rent due for any unexercised option period). Pursuit of any of the foregoing remedies shall not preclude pursuit of any other remedies herein provided or provided by law, nor shall pursuit of any other such remedy constitute a forfeiture or waiver of any rent due to Landlord hereunder or of any damages accruing to Landlord by reason of the violation of any of the terms, provisions and covenants herein contained. Forbearance by Landlord to enforce one or more of the remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of such default. In determining the amount of loss or damage which Landlord may suffer by reason of termination of this Lease or the deficiency arising by reason of any reletting by Landlord as above provided, allowance shall be made for the expense of repossession and any repairs or remodeling undertaken by Landlord following repossession. Notwithstanding anything contained herein to the contrary if Tenant has other lease(s) with Landlord or its agent and Tenant is in default hereof or with respect to any one or more of those other lease(s) then, under the cross default provision, any or all such leases, including this Lease, may be deemed to be in default and all rights and remedies afforded to Landlord hereunder and/or with respect to such other leases shall become available to Landlord.

Appears in 1 contract

Samples: Mall Outparcel Lease Agreement (CB Financial CORP)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 22.1 The following events ~~shall~~ will be deemed to be events of default by Tenant under this ~~lease~~Lease: (a) Tenant ~~shall fail~~ fails to pay any installment of rent or any other obligation ~~herein~~ under this Lease involving the payment of money and such failure ~~shall continue~~ continues for a period of ~~five~~ ten (510) days after written notice thereof to Tenant; provided, however, that for any twelve (12) month period during which Landlord has already given Tenant one written notice of the failure to pay an installment of rent, no further notice will be required (i.e., the event of default will automatically occur on the tenth day after the date upon which the rent was due). (b) Tenant ~~shall fail~~ fails to comply with any ~~term,~~ provision ~~or covenant~~ of this Lease, other than as described in ~~subsection~~ Subsection (a) ), above, and ~~shall~~ either does not cure such failure within fifteen (15) days after written notice thereof to Tenant, or cures that particular failure but again fails to comply with the same provision of the Lease within three months after Landlord's written notice. (c) Tenant or any guarantor of Tenant's obligations under this ~~lease shall become~~ Lease becomes insolvent, or ~~shall make~~ makes a transfer in fraud of creditors, or ~~shall make~~ makes an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this ~~lease shall file~~ Lease files a petition ~~for relief~~ under any section or chapter of the federal Bankruptcy Code, as amended, or under any similar ~~law,~~ law or ~~if such a petition shall be~~ statute of the United States or any state thereof; or Tenant or any guarantor of Tenant's obligations under this Lease is adjudged bankrupt or insolvent in proceedings filed against Tenant or any guarantor of Tenant's obligations under this ~~lease~~Lease thereunder. (e) A receiver or Trustee ~~shall be~~ is appointed for the ~~demised premises~~ Demised Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's ~~obligations~~ obligation under this Lease. (f) Tenant ~~shall desert~~ deserts or ~~vacate~~ vacates or ~~shall commence~~ commences to desert or vacate the ~~demised premises~~ Demised Premises or any substantial portion of the ~~demised premises~~ Demised Premises or ~~shall remove~~ at any time prior to the last month of the lease term removes or ~~attempt~~ attempts to remove, without the prior written consent of Landlord, all or a substantial ~~value~~ amount of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property.. THE. XXXXXXX LAW FIRM LLP 0 HOUSTON, TX initials initials (g) Tenant ~~shall do~~ does or ~~permit~~ permits to be done anything which creates a lien upon the ~~premises~~all or any part of the Demised Premises. ~~17.2 A Security Deposit specified in Article I, Section 1.1~~ (mh) ~~shall be held by Landlord without interest as security for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not~~ Tenant makes an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination anticipatory breach of this Lease. The term "anticipatory breach" means either (1 ) Tenant's repudiation of this Lease in writing, or (2) the combination of (i) Tenant's desertion or vacation or commencement of desertion or vacation of the Demised Premises or removal of all or a substantial amount of Tenant's equipment, fixtures, furniture, or other personal property from the Demised Premises, and (ii) Tenant's failure to pay any Base Rent or other amounts due under this Lease as and when they are due and payable. ~~17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue the following remedy:~~

Appears in 1 contract

Samples: Building Lease (Arkson Neutraceuticals Corp.)

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 22.1 The following events shall be deemed to be events of default by Tenant under this ~~lease~~Lease: (a) Tenant shall fail to pay any installment ~~of rent~~ or rental or any other obligation ~~herein~~ under this Lease involving the payment of money and such failure shall continue for a period of ~~five~~ ten (510) days after written notice thereof to Tenant; provided, however, that for each calendar year during which Landlord has already given Tenant two written notices of the failure to pay an installment of rental, no further notice shall be required (i.e., the event of default will automatically occur on the tenth day after the date upon which the rental was due). (b) Tenant shall fail to comply with any ~~term,~~ provision ~~or covenant~~ of this Lease, other than as described in subsection (a) above, and either shall not cure such failure within ~~fifteen~~ thirty (1530) days after written notice thereof to Tenant, or shall cure that particular failure but shall again fail to comply with the same provision of the Lease within three months after Landlord's written notice. Tenant's failure to perform any such obligation which may not reasonably be cured within thirty (30) days will not be considered a default if Tenant: (i) institutes good faith efforts to cure the non-performance within the thirty (30) day period; and (ii) completes performance within sixty (60) days after written notice thereof to Tenant. (c) Tenant or any guarantor of Tenant's obligations under this ~~lease~~ Lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this ~~lease~~ Lease shall file a petition ~~for relief~~ under any section or chapter of the federal Bankruptcy Code, as amended, or under any similar ~~law,~~ law or ~~if such a petition~~ statute of the United States or any state thereof ("Debtor Relief Laws"); or Tenant or any guarantor of Tenant's obligations under this Lease shall be the subject of proceedings filed against Tenant or any guarantor of Tenant's obligations under this ~~lease~~Lease under Debtor Relief Laws, and such proceedings are not discharged within sixty (60) days after commencement. (e) A receiver or ~~Trustee~~ trustee shall be appointed for the ~~demised premises~~ Demised Premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's ~~obligations~~ obligation under this ~~Lease~~Lease and such receiver or trustee is not discharged within sixty (60) days following the appointment. (f) Tenant shall desert or vacate or shall commence to desert or vacate the demised premises or any substantial portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Demised Premises or upon all or any part of the Shopping Center, and such lien is not either removed or fully bonded around within thirty (30) days after Tenant becomes aware of such lien. ~~17.2 A Security Deposit~~ 22.2 Upon the occurrence of any such events of default, Landlord shall have the option to pursue any one or more of the following remedies: (a) Without any further notice or demand whatsoever, Tenant shall be obligated to reimburse Landlord for the damages suffered by Landlord as a result of the event of default, plus interest on such amount at the maximum contractual rate which could legally be charged in the event of a loan of such amount to Tenant (but in no event to exceed 11/2% per month); and Landlord may pursue a monetary recovery from Tenant. (b) Without any further notice or demand whatsoever, Landlord may take any one or more of the actions permissible at law to insure performance by Tenant of Tenant's covenants and obligations under this Lease. In this regard, and without limiting the generality of the immediately preceding sentence, it is agreed that if Tenant fails to open for business as required in this Lease or, having opened for business, deserts or vacates the Demised Premises (except under the circumstances described in Section 9.1 above), Landlord may enter upon and take possession of such Demised Premises in order to protect them from deterioration and continue to demand from Tenant the monthly rentals and other charges provided in this Lease, without any obligation to relet; however, if Landlord does, at its sole discretion, elect to relet the Demised Premises, such action by Landlord shall not be deemed as an acceptance of Tenant's surrender of the Demised Premises unless Landlord expressly notifies Tenant of such acceptance in writing pursuant to this subsection (b), Tenant hereby acknowledging that Landlord shall otherwise be reletting as Tenant's agent and Tenant furthermore hereby agreeing to pay to Landlord on demand any deficiency that may arise between the monthly rentals and other charges provided in this Lease and that actually collected by Landlord. It is further agreed in this regard that in the event of any default described in subsection (b) of Section 22.1 of this Lease, Landlord shall have the right to enter upon the Demised Premises by force if necessary without being liable for prosecution or any claim for damages therefor, and do whatever Tenant is obligated to do under the terms of this Lease; and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in thus effecting compliance with Tenant's obligations under this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to the Tenant from such action. Finally, it is agreed that in the event of any default described in subsection (f) of Section 22.1 of this Lease, Landlord may pay or bond around such lien, whether or not contested by Tenant; and in such event Tenant agrees to reimburse Landlord on demand for all costs and expenses incurred in connection with any such action, with Tenant further agreeing that Landlord shall in no event be liable for any damages or claims resulting from such action. (c) Landlord may terminate this Lease by written notice to Tenant, in which event Tenant shall immediately surrender the Demised Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which Landlord may have for possession or arrearages in rent (including any late charge or interest which may have accrued pursuant to Section 4.6 of this Lease), enter upon and take possession of the Demised Premises and expel or remove Tenant and any other person who may be occupying said premises or any part thereof, by force if necessary, without being liable for prosecution or any claim for damages therefor. Tenant hereby waives any statutory requirement of prior written notice for filing eviction or damage suits for nonpayment of rent. In addition, Tenant agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of any termination effected pursuant to this subsection (c), said loss and damage to be determined by either of the following alternative measures of damages: (i) Until Landlord is able, through reasonable efforts, the nature of which efforts shall be at the sole discretion of Landlord, to relet the Demised Premises under terms satisfactory to Landlord, in its sole discretion, Tenant shall pay to Landlord on or before the first day of each calendar month, the monthly rentals and other charges provided in this Lease. If and after the Demised Premises have been relet by Landlord, Tenant shall pay to Landlord on the 20th day of each calendar month the difference between the monthly rentals and other charges provided in this Lease for such calendar month and that actually collected by Landlord for such month. If it is necessary for Landlord to bring suit in order to collect any deficiency, Landlord shall have a right to allow such deficiencies to accumulate and to bring an action on several or all of the accrued deficiencies at one time. Any such suit shall not prejudice in any way the right of Landlord to bring a similar action for any subsequent deficiency or deficiencies. Any amount collected by Landlord from subsequent tenants for any calendar month in excess of the monthly rentals and other charges provided in this Lease, shall be credited to Tenant in reduction of Tenant's liability for any calendar month for which the amount collected by Landlord will be less than the monthly rentals and other charges provided in this Lease; but Tenant shall have no right to such excess other than the above-described credit. (ii) When Landlord desires, Landlord may demand a final settlement. Upon demand for a final settlement, Landlord shall have a right to, and Tenant hereby agrees to pay, the difference between the total of all monthly rentals and other charges provided in this Lease for the remainder of the term and the reasonable rental value of the Demised Premises for such period, such difference to be discounted to present value at a rate equal to the rate of interest which is allowed by law in the State of Texas when the parties to a contract have not agreed on any particular rate of interest (or, in the absence of such law, at the rate of six percent per annum). If Landlord elects to exercise the remedy prescribed in Section 22.2(b) above, this election shall in no way prejudice Landlord's right at any time thereafter to cancel said election in favor of the remedy prescribed in Section 22.2(c) above, provided that at the time of such cancellation Tenant is still in default. Similarly, if Landlord elects to compute damages in the manner prescribed by Section 22.2(c)(i) above, this election shall in no way prejudice Landlord's right at any time thereafter to demand a final settlement in accordance with Section 22.2(c)(ii) above. Pursuit of any of the above remedies shall not preclude pursuit of any other remedies prescribed in other sections of this Lease and any other remedies provided by law. Forbearance by Landlord to enforce one or more of the remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of such default. 22.3 It is expressly agreed that in determining "the monthly rentals and other charges provided in this Lease," as that term is used throughout Sections 22.2(c)(i) and 22.2(c)(ii) above, there shall be added to the minimum guaranteed rental (as specified in Section 1.1(l) of this Lease) a sum equal to the charges for Common Area maintenance (as specified in Section 7.3), the payments for taxes, and the real estate charges (as specified in Article I6 of this Lease). 22.4 It is further agreed that, in addition to payments required pursuant to Sections 22.2(b) and 22.2(c) above, Tenant shall compensate Landlord for all expenses incurred by Landlord in repossession (including, among other expenses, any increase in insurance premiums caused by the vacancy of the Demised Premises), all expenses incurred by Landlord in reletting (including, among other expenses, repairs, replacements, advertisements and brokerage fees), and a reasonable allowance for Landlord's administrative efforts, salaries and overhead attributable directly or indirectly to Tenant's default and Landlord's pursuing the rights and remedies provided herein and under applicable law. 22.5 Either party may restrain or enjoin any breach or threatened breach of any covenant, duty or obligation of the other herein contained without the necessity of proving the inadequacy of any legal remedy or irreparable harm. The remedies of the parties hereunder shall be deemed cumulative and not exclusive of each other. 22.6 If on account of any breach or default by either party in its obligations hereunder, the other shall employ an attorney to present, enforce or defend any rights or remedies hereunder, the non-prevailing party agrees to pay any reasonable attorney's fees incurred by the prevailing party in such connection. 22.7 In the event that any one or more provisions of this Article 22 authorizes Landlord to enter the Demised Premises, Landlord is entitled and is hereby authorized, without any notice to Tenant, to enter upon the Demised Premises by use of a duplicate key, a master key, a locksmith's entry procedures or any other means not involving personal confrontation, and to alter or change the door locks on all entry doors of the Demised Premises, thereby permanently excluding Tenant. In such event Landlord shall not be obligated to place any written notice on the Demised Premises explaining Landlord's action; moreover, if a reason for Landlord's action is the failure of Tenant to pay any one or more rentals when due pursuant to this Lease, Landlord shall not be required to provide the new key (if any) to Tenant until and unless all rental defaults of Tenant have been fully cured. 22.8 Tenant acknowledges its obligation to deposit with Landlord the sum stated in Section ~~1.1 (m~~1.1(p) ~~shall~~ above, to be held by Landlord without interest as security for the performance by ~~Xxxxxx’s~~ Tenant of Tenant's covenants and obligations under this Lease~~, it being expressly understood~~ . Tenant agrees that such deposit may be co-mingled with Landlord's other funds and is not an advance payment of rental or a measure of Landlord’s 's damages in case of default by ~~Xxxxxx~~Tenant. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the extent necessary to make good any arrears of ~~rent~~ rentals and any other damage, injury, expense or liability caused to Landlord by such event of ~~default~~ default, and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default ~~herein~~hereunder, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this ~~Lease~~Lease (subject to the provisions of Section 19.6 above). ~~17.3 Upon~~ 22.9 In the ~~occurrence~~ event of any default described in subsection (d) of Section 22.1 of this Lease, any assumption and assignment must conform with the requirements of the Bankruptcy Code which provides, in part, that the Landlord must be provided with adequate assurance: (i) of the source of rent and other consideration due under this Lease; (ii) that any assumption or assignment is subject to all of the provisions of this Lease (including, but not limited to, restrictions as to use) and will not breach any such ~~events~~ provision contained in any other Lease, financing agreement or other agreement relating to the Shopping Center; and (iii) that any assumption or assignment will not disrupt any tenant mix or balance in the Shopping Center. (a) In order to provide Landlord with the assurance contemplated by the Bankruptcy Code, Tenant must fulfill the following obligations, in addition to any other reasonable obligations that Landlord may require, before any assumption of ~~default~~this Lease is effective: (i) all defaults under subsection (a) of Section 22.1 of this Lease must be cured within ten (10) days after the date of assumption; (ii) all other defaults under Section 22.1 of this Lease other than under subsection (d) of Section 22.1 must be cured within fifteen (15) days after the date of assumption; and (iii) all actual expenses incurred by Landlord (including, but not limited to, reasonable attorneys fees) must be paid to Landlord within ten (10) days after the date of assumption. (b) In the event this Lease is assumed in accordance with the requirements of the Bankruptcy Code and this Lease, and is subsequently assigned, then, in addition to any other reasonable obligations that Landlord may require and in order to provide Landlord with the assurances contemplated by the Bankruptcy Code, Landlord shall ~~have~~ be provided with: (i) a financial statement of the ~~option~~ proposed assignee prepared in accordance with generally accepted accounting principles consistently applied, though on a cash basis, which reveals a net worth in an amount sufficient, in Landlord's reasonable judgment, to ~~pursue~~ assure the ~~following remedy:~~future performance by the proposed assignee of Tenant's obligations under this Lease; or (ii) a written guaranty by one or more guarantors with financial ability sufficient to assure the future performance of Tenant's obligations under this Lease, such guaranty to be in form and content satisfactory to Landlord and to cover the performance of all of Tenant's obligations under this Lease. ARTICLE 23

Appears in 1 contract

Samples: Ground Lease Agreement (Chicago Pizza & Brewery Inc)

DEFAULT BY TENANT AND REMEDIES. 17.1 The following events shall be deemed to be events of default by Tenant under this lease: (a) Tenant shall fail to pay any installment of rent or any other obligation herein involving the payment of money and such failure shall continue for a period of five (5) days after the date due. (b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than as described in subsection (a) above, and shall not cure such failure within fifteen (15) days after written notice thereof to Tenant. (c) Tenant or any guarantor of Tenant's obligations under this lease shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or any guarantor of Tenant's obligations under this lease shall file a petition for relief under any chapter of the Bankruptcy Code, as amended, or any similar law, or if such a petition shall be filed against Tenant or any guarantor of Tenant's obligations under this lease. (e) A receiver or Trustee shall be appointed for the demised premises or for all or substantially all of the assets of Tenant or any guarantor of Tenant's obligations under this Lease. (f) Tenant shall desert or vacate or shall commence to desert or vacate the demised premises or any substantial portion of the demised premises or shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property. (g) Tenant shall do or permit to be done anything which creates a lien upon the premises. 17.2 A Security Deposit specified in Article I, Section 1.1 (m) shall be held by Landlord without interest as security for the performance by ~~Xxxxxx~~Tenant’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by ~~Xxxxxx~~Tenant. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this Lease. 17.3 Upon the occurrence of any such events of default, Landlord shall have the option to pursue the following remedy:

Appears in 1 contract

Samples: Shopping Center Lease

DEFAULT BY TENANT AND REMEDIES. ~~17.1~~ 18.1 The following events shall be deemed to be events of default by Tenant under this lease: (a) Tenant shall fail to pay when due any installment of ~~rent~~ rental or any ~~other obligation herein involving the payment of money and such failure shall continue for a period of five (5) days after the date due~~sum payable by Tenant under this lease. (b) Tenant shall fail to comply with any other term, provision or covenant of this ~~Lease, other than as described in subsection (a) above~~lease, and shall not cure such failure within ~~fifteen~~ ten (1510) days after written notice thereof to Tenant; provided, however, that if the failure to cure is of such a nature that it cannot reasonably be cured within said ten-day period, Tenant shall not be deemed in default so long at Tenant commences curing such failure within said ten-day period, and diligently prosecutes same to completion. (c) Tenant or ~~any guarantor of Tenant's obligations under this lease~~ Guarantor shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant or ~~any guarantor of Tenant's obligations under this lease~~ Guarantor shall file a petition ~~for relief~~ under any section or chapter of ~~the Bankruptcy Code, as amended,~~ any applicable federal or ~~any similar~~ state bankruptcy or insolvency law, ; or ~~if such a petition~~ Tenant or Guarantor shall be adjudged bankrupt or insolvent in proceedings filed against Tenant or ~~any guarantor~~ Guarantor; or Tenant or Guarantor shall admit that it cannot meet it financial obligations as they become due. For additional provisions regarding the bankruptcy of ~~Tenant's obligations under this lease~~Tenant see Article 25. (e) A receiver or ~~Trustee~~ trustee shall be appointed for the ~~demised premises~~ Premises or for all or substantially all of the assets of Tenant or ~~any guarantor of Tenant's obligations under this Lease~~Guarantor. (f) Tenant shall ~~desert or vacate or shall commence to desert or vacate the demised premises or~~ abandon any ~~substantial~~ portion of the ~~demised premises~~ Premises. For purposes of this lease, Tenant shall be deemed to have abandoned the Premises if Tenant fails to utilize the Premises for the purpose permitted herein for ten (10) or ~~shall remove or attempt to remove, without the prior written consent of Landlord, all or a substantial value of Tenant's goods, wares, equipment, fixtures, furniture, or other personal property~~more consecutive days. (g) Tenant shall do or permit to be done anything which creates a lien upon the ~~premises~~Premises. Tenant shall have a reasonable period of time to dispute an obligation giving rise to a lien after which time if lien is not remedied Tenant shall be in default. ~~17.2 A Security Deposit specified in Article I, Section 1.1~~ (mh) The business operated by Tenant shall be ~~held by Landlord without interest~~ closed for failure to pay any state sales tax as ~~security~~ required or for the performance by Xxxxxx’s covenants and obligations under this Lease, it being expressly understood that such deposit is not an advance payment of rental or a measure of Landlord’s damages in case of default by Xxxxxx. any other reason. 18.2 Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused to Landlord by such event of default and Tenant shall pay to Landlord on demand the amount so applied specified in ~~order to restore the security deposit to its original amount. If Tenant is not then in default herein, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of~~ this ~~Lease. 17.3 Upon the occurrence of any such events of default~~lease, Landlord shall have the option to pursue any and all remedies which Landlord then may have hereunder or at law or in equity, including, without limitation, any one or more of the ~~following remedy~~following, in each case, without any notice or demand whatsoever: (a) Terminate this lease by notice in writing to Tenant in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have for possession or arrearage in rent, enter upon and take possession of the Premises, by any lawful means, including by picking or changing locks if necessary, and lock out, expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim for damages therefor; and Tenant agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of such termination, whether through inability to relet the Premises on satisfactory terms or otherwise, including the following: (i) the worth at the time of award of any unpaid rent which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss which Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iv) any other amount, including court costs, expenses of repossessing the Premises and expenses of restoring the Premises to a good condition of repair, necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform Tenant's obligations under this lease or which in the ordinary course of things would be likely to result therefrom; (v) at Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law; and (vi) all reasonable attorneys' fees incurred by Landlord relating to the default and termination of this lease plus interest on all sums due Landlord by Tenant at the highest rate allowed by law or, if there is no such highest rate, at five percent (5%) per annum above the rate identified in the Wall Street Journal under the caption "Money Rates" as the "prime" or "base" rate on corporate loans at large United States money center commercial banks. As used in subparagraphs (i) and (ii) above, the "worth at the time of award" is to be computed by allowing interest at the highest rate Landlord: [SIGNATURE] Tenant: [SIGNATURE] 21 allowed by law, or if there is no such highest rate, at the rate specified in subparagraph (vi) above. As used in subparagraph (iii) above, the "worth at the time of award" is to be computed by discounting such amount at the discount rate of the Federal Reserve Bank of New York at the time of the award plus one percent (1%).

Appears in 1 contract

Samples: Lease Agreement (Murray Income Properties I LTD)

Common use of DEFAULT BY TENANT AND REMEDIES Clause in Contracts