Common use of Default by Tenant Clause in Contracts

Default by Tenant. Tenant hereby acknowledges and agrees that if Tenant fails to comply with any provision of this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:

Appears in 3 contracts

Samples: Residential Lease Agreement, Residential Lease Agreement, Residential Lease Agreement

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Default by Tenant. Upon breach or default of this Lease by Tenant, Landlord may pursue any and all rights, at law or equity, against Tenant. Except when Landlord feels reasonably and justifiably insecure as to the solvency of the Tenant hereby acknowledges or its ability to perform its obligations under the Lease, Tenant will have 20 days after receipt of written notice from Landlord within which to completely cure any non-monetary default; however, if the non-monetary default is not completely cured within 20 days and Tenant demonstrates to Landlord that Tenant is using (and will continue to use) its best efforts to completely cure the non-monetary default, Tenant will have the additional time to cure as Landlord deems reasonably appropriate under the circumstances. In no event, however, will the time period within which Tenant must completely cure any non-monetary default extend to a period of time greater than 90 days. Without limiting the foregoing, at expiration of the term of this Lease or if default is made in the payment of Rent or in the performance of any agreements of Tenant contained in this Lease, Landlord, or its agent, will have the right to enter and take possession of the Leased Premises. In the case of re-entry by Landlord, and Tenant agrees that if to deliver the Leased Premises without process of law, Tenant's rights to occupy or control the Leased Premises will immediately cease, and this Lease, at the option of Landlord, will terminate. If any default or breach by Tenant fails occurs, the obligations of Tenant under this Lease, including Tenant's obligation to pay Rent, will not cease, and Tenant will be liable for any loss or damage to Landlord for failure to comply with any provision of this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or retakes possession of the Leased Premises, Landlord may terminate remove and store all personal property of Tenant in any place selected by Landlord at the expense and risk of Tenant. Landlord may sell any or all of the property at public or private sale as provided by law and will apply the proceeds of the sale first to the cost of the sale, second to the payment of charges for storage, if any, third to the payment of other sums that may be due from Tenant to Landlord under the terms of the Lease. If Tenant breaches this Lease, all rents which are payable during and fourth the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand balance, if any, to Tenant. Tenant waives all claims for damages that may be caused by Landlord's re-entering and taking possession of the Leased Premises, removing, storing, and/or selling the property of Tenant. No re-entry of Landlord will attempt be considered or construed to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:a forcible entry.

Appears in 2 contracts

Samples: Office Lease Agreement (Vestin Group Inc), Office Lease Agreement (Vestin Group Inc)

Default by Tenant. Upon breach or default of this Lease by Tenant, Landlord may pursue any and all rights, at law or equity, against Tenant. Except when landlord feels reasonably and justifiably insecure as to the solvency of the Tenant hereby acknowledges or its ability to perform its obligations under the Lease, Tenant will have 20 days after receipt of written notice from Landlord within which to completely cure any non-monetary default; however, if the non-monetary default is not completely cured within 20 days and Tenant demonstrates to Landlord that Tenant is using (and will continue to use) its best efforts to completely cure the non-monetary default, Tenant will have the additional time to cure as Landlord deems reasonable appropriate under the circumstances. In no event, however, will the time period within which Tenant must completely cure any non-monetary default extend to a period of time greater than 90 days. Without limiting the foregoing, at expiration of the term of this Lease or if default is made in the payment of Rent or in the performance of any agreements of Tenant contained in this Lease, Landlord, or its agent, will have the right to enter and take possession of the Leased Premises. In the case of re-entry by Landlord, and Tenant agrees that if to deliver the Leased Promises without process at law, Tenant's rights to occupy or control the Leased Premises will immediately cease, and this Lease, at the option of Landlord, will terminate. If any default or breach by Tenant fails occurs, the obligations of Tenant under this Lease, including Tenant's obligation to pay Rent, will not cease, and Tenant will be liable for any loss or damage to Landlord for failure to comply with this Lease. If Landlord retakes possession of the Leased Premises, Landlord may remove and store all personal property of Tenant in any provision place selected by Landlord at the expense and risk of Tenant. Landlord may sell any or all of the Property at public or private sale as provided by law and will apply the proceeds of the sale first to the cost of the sale, second to the payment of charges for storage, if any, third to the payment of other sums that may be due from Tenant to Landlord under the terms of this Lease, such failure shall and fourth the balance, if any, to Tenant. Tenant waives all claims for damages that may be deemed caused by Landlord's re-entering and taking possession of the Leased Premises, removing, storing, and/or selling the property of Tenant. No re-entry of Landlord will be considered or construed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:forcible entry.

Appears in 2 contracts

Samples: Office Lease Agreement (Vestin Group Inc), Office Lease Agreement (Vestin Group Inc)

Default by Tenant. Except as otherwise provided in the State’s Statutes governing Landlord Tenant hereby acknowledges and agrees that Law, if Tenant fails to comply with any provision of this Lease, such failure shall be deemed to be there is a material breach of this Lease. Furthermore, if noncompliance by Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncomplianceRental Agreement, Landlord may deliver a written notice to Tenant specifying the noncompliance acts and allowing Seven omissions constituting the breach and that the Rental Agreement will terminate upon a date not less than sixty (760) days within which it may be corrected. If compliance after receipt of the notice, if the breach is not maderemedied in fourteen (14) days. A copy of such notice shall be delivered at the same time to “X”. The Rental Agreement shall terminate as provided in the notice regardless of the periodic rent-paying date, except that if the breach is remediable by repairs or the payment of damages or otherwise, and Tenant adequately initiates a good faith effort to remedy the breach prior to the date specified in the notice, the Rental Agreement will not terminate. However, in the event that such breach or a similar breach occurs after the 14-day period provided in this paragraph, Landlord may deliver written notice to Tenant that the Rental Agreement will terminate upon a date not less than sixty (60) days after receipt of the notice without providing the opportunity to remedy the breach. The Rental Agreement shall then terminate as provided in such notice regardless of the Lease and/or avail itself periodic rent-paying date. Landlord may terminate the Rental Agreement if rent is unpaid when due following expiration of any remedies that are available at law or the time period for notice and opportunity to cure specified under Section 2 above and, in equity. If addition to what is stated in Section 2 above, Tenant fails to pay rent when due, and the default continues for Three within three (3) days after delivery of written demand notice by Landlord for payment of nonpayment and such Landlord’s intention to terminate the Rental Agreement if the rent is not paid within such 3-day period. The d-day notice in the previous sentence is not to be issued unless and until the time allowed under Section 2 expires without the rent having been paid. The 3-day notice period provided for in this paragraph shall be computed as three consecutive 24-hour periods. When such notice is served on Tenant or possession to some person over 12 years of age residing in the Premises, or by posting a copy of the notice in a conspicuous place at the Premises, the 3-day period shall commence at the time of delivery or posting. When such notice is delivered by mailing, an additional two days from the date of mailing should be allowed for Tenant to pay such Tenant’s rent and thereby avoid having the Rental Agreement terminated. Except as otherwise provided in the State’s Statutes governing Landlord Tenant Law, Landlord may recover damages and obtain injunctive relief for any noncompliance by Tenant with the Rental Agreement. The provisions of this Section 19 shall not limit a Landlord’s or Tenant’s right to terminate the Lease. If Rental Agreement pursuant to State’s Statutes governing Landlord Tenant breaches this LeaseLaw, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:amendments thereto.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Default by Tenant. If (a) Tenant hereby acknowledges and agrees that if Tenant fails to comply with any provision defaults in the payment of rent or other amounts under this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three ten (310) days after delivery written notice by Lessor or Tenant, (b) Tenant defaults in any other obligation under this Lease and the default continues for thirty (30) days after written notice by Lessor to Tenant, (c) any proceeding is begun by or against Tenant to subject the assets of written demand by Landlord Tenant to any bankruptcy or insolvency law or for payment an appointment of a receiver of Tenant or for any of Tenant’s assets, or (d) Tenant makes a general assignment of Tenant’s assets for the rent benefit of creditors, then Lessor may, with or without terminating this Lease, cure the default and charge Tenant all costs and expenses of doing so, and Lessor also may reenter the Premises, remove all persons and property; and regain possession of the Premises, Landlord may terminate the Lease. If Tenant breaches without waiver or loss of any of Lessor’s rights under this Lease, including Lessor’s right to payment of Monthly Rent. Lessor also may terminate this Lease as to all rents which are payable during future rights of Tenant, without terminating Lessor’s right to payment of Monthly Rent and other charges due under this Lease. Tenant waives any right of restoration to possession of the Premises after reentry, notice of termination, or of judgment for possession. If this Lease is terminated under this Section, Tenant promises and agrees to pay all Monthly Rent and other charges due for the remainder of the original Term, and all reasonable attorneys’ fees and other expenses. If Tenant defaults in any of its obligations under this Lease, it will promptly pay all reasonable costs including reasonable attorneys’ fees incurred by Lessor in enforcing Tenant’s obligations, whether or not this Lease term is terminated and whether or not suit is brought. No right or remedy will preclude any other right or remedy, no right or remedy will be exclusive of or dependent upon any other right or remedy, and any right or remedy may be exercised independently or in combination. If Tenant is in default and notice of termination of Tenant’s right to possession has been mailed to Tenant at the Premises and it appears in Lessor’s reasonable judgment that Tenant has abandoned or vacated the Premises, Lessor may reenter the Premises and retake possession without legal action, without relieving Tenant of the obligation to pay Monthly Rent or any extension thereof will be accelerated other obligations under this Lease, and without further notice any liability to Tenant for re-entry or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by removal of Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agenciesproperty. In the event that this Lease is terminated and/or Tenant breaches this Leaseis dispossessed from the Premises on account of Tenant’s default hereunder, Tenant will be liable Lessor agrees to Landlord for:use good-faith, commercially reasonable efforts to re-let same and to otherwise mitigate damages.

Appears in 1 contract

Samples: Spectrum Commerce Center (Mesaba Holdings Inc)

Default by Tenant. Landlord shall give Tenant hereby acknowledges and agrees written notice of any default by Tenant under this Lease. If Landlord notifies Tenant of a monetary default, Tenant shall have ten (10) Business Days after Tenant's receipt of Landlord's default notice to cure such default; provided, however, that if the default relates to Landlord's dispute of Tenant's right to deduct any amount pursuant to this Lease, Tenant fails shall not be in default under this Lease unless Landlord receives a final judgment in its favor regarding the disputed amount and Tenant does not pay such judgment within five days after Tenant's receipt of written notice from Landlord of such judgment. If Tenant defaults three times in the payment of rent within a 12-month period, Tenant shall pay a 5% penalty of the amount due for the third and subsequent defaults, after notice of each default by Landlord. If Landlord notifies Tenant of a non-monetary default, Tenant shall have 30 days after Tenant's receipt of Landlord's default notice to comply with cure such default (unless such default cannot reasonably be cured within 30 days, in which case Tenant shall have as much time to cure such default as is reasonably necessary provided Tenant promptly commences and diligently pursues such cure). Tenant shall not have any implied obligations under this Lease. Tenant shall not be considered in default under this Lease unless Tenant breaches, violates or defaults an express provision of this Lease, and does not cure such failure shall be deemed to be a material breach of this Lease. Furthermorebreach, if Tenant fails to comply with any provision of this Lease, other than violation or default within the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:time period permitted hereunder.

Appears in 1 contract

Samples: Center Lease (Nbi Inc)

Default by Tenant. Upon breach or default of this Lease by Tenant, Landlord may pursue any and all rights, at law or equity, against Tenant. Except when Landlord feels reasonably and justifiably insecure as to the solvency of the Tenant hereby acknowledges or its ability to perform its obligations under the Lease, Tenant will have 20 days after receipt of written notice from Landlord within which to completely cure any non-monetary default; however, if the non-monetary default is not completely cured within 20 days and Tenant demonstrates to Landlord that Tenant is using (and will continue to use) its best efforts to completely cure the non-monetary default, Tenant will have the additional time to cure as Landlord deems reasonably appropriate under the circumstances. In no event, however, will the time period within which Tenant must completely cure any non-monetary default extend to a period of time greater than 90 days. Without limiting the foregoing, at expiration of the term of this Lease or if default is made in the payment of Rent or in the performance of any agreements of Tenant contained in this Lease, Landlord, or its agent, will have the right to enter and take possession of the Leased Premises. In the case of re-entry by Landlord, and Tenant agrees that if to deliver the Leased Premises without process of law, Tenant's rights to occupy or control the Leased Premises will immediately cease, and this Lease, at the option of Landlord, will terminate. If any default or breach by Tenant fails occurs, the obligations of Tenant under this Lease, including Tenant's obligation to pay Rent, will not cease, and Tenant will be liable for any loss or damage to Landlord for failure to comply with this Lease. If Landlord retakes possession of the Leased Premises, Landlord may remove and store all personal property of Tenant in any provision place selected by Landlord at the expense and risk of Tenant. Landlord may sell any or all of the property at public or private sale as provided by law and will apply the proceeds of the sale first to the cost of the sale, second to the payment of charges for storage, if any, third to the payment of other sums that may be due from Tenant to Landlord under the terms of this Lease, such failure shall and fourth the balance, if any, to Tenant. Tenant waives all claims for damages that may be deemed caused by Landlord's re-entering and taking possession of the Leased Premises, removing, storing, and/or selling the property of Tenant. No re-entry of Landlord will be considered or construed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:forcible entry.

Appears in 1 contract

Samples: Office Lease Agreement (Vestin Group Inc)

Default by Tenant. Tenant hereby acknowledges and agrees that if Tenant fails to comply with any provision of this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than In the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If event Tenant fails to pay the rent or any portion thereof when due, and three days’ notice in writing has been given to Tenant requiring in the default continues for Three (3) days after delivery of written demand by Landlord for alternative the payment of the rent or possession of the Premisesleased premises, Landlord may terminate the Lease. If Tenant breaches this Leasemay, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by , terminate Tenant’s breach by attempting right to relet possession of the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agenciesleased premises under this Lease. In the event that Tenant breaches shall default in the performance of any of the terms, covenants or conditions contained in this Lease other than the promise to pay rent, or if Tenant shall fail to comply with any rules and regulations incorporated herein or hereafter established pursuant to the terms of this Lease, and three days’ notice in writing has been given to Tenant will be liable requiring in the alternative the compliance with such term, covenant, condition, rule or regulation or the delivery of possession of the leased premises, Landlord may, without further notice to Landlord for:Tenant, terminate Tenant’s right to possession of the leased premises by giving Tenant three days’ written notice of intention to terminate. TENANT UNDERSTANDS AND ACKNOWLEDGES THAT EVEN IF TENANT’S RIGHT TO POSSESSION IS TERMINATED, THIS LEASE AND TENANT’S OBLIGATIONS UNDER THIS LEASE, INCLUDING THE OBLIGATION TO PAY RENT, SHALL CONTINUE FOR THE FULL TERM OF THE LEASE.

Appears in 1 contract

Samples: Residential Lease Agreement

Default by Tenant. Tenant hereby acknowledges and agrees that if Tenant fails to comply with any provision of this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay Minimum Rent or Additional Charges within five (5) days from the due date or fails to remedy any default other than the payment of rent when due, and the default continues for Three or charges within ten (310) days after delivery written notice from Landlord (unless such default cannot be remedied within the 10-day period and Tenant commences to remedy such default within the 10-day period and diligently pursues correction thereof in which event the remedy time shall be extended to the time reasonably required therefor); or if a receiver of written demand any property of Tenant on the Leased Premises is appointed or Tenant's interest in the Leased Premises is levied upon by Landlord legal process and Tenant fails within thirty (30) days to cause the vacation of such appointment, levy or adjudication or if Tenant files a voluntary petition in bankruptcy, disposes of all or substantially all of its assets in bulk, or makes an assignment for payment the benefit of the rent or possession of the Premisesits creditors, then in any such instance, without further notice to Tenant, Landlord may enter upon the Leased Premises and terminate the this Lease. If Landlord, or his agent, may re-enter said premises by summary proceeding, by force, or otherwise, take possession thereof, and remove all persons and property therefrom. Despite such termination Tenant breaches shall not be released from any sums due Landlord for rent or otherwise to the date of such entry; additionally, Tenant shall remain liable to Landlord in damages for Tenant's breach of this Leaselease (including the rentals due for the unexpired portion of the term of this lease, all rents attorney's and broker's fees) as fully as though there had been no termination, which are payable during said damages Landlord shall have the right to recover. In addition, Landlord may enter upon the Leased Premises without terminating this Lease and may relet them in its own name for the account of Tenant for the remainder of the term at the highest rent then obtainable and immediately recover from Tenant any deficiency for the balance of the term between the amount for which the Leased Premises were relet, less expense of reletting (including broker and attorney fees) and the rent provided hereunder. If Tenant at any time shall fail to pay any taxes, assessments, or liens, or fails to make any payment or perform any act required by this Lease term to be made or performed by it, Landlord, without waiving or releasing Tenant from any extension thereof will be accelerated without further notice obligation or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches default under this Lease, Tenant will may (but shall be liable to under no obligation to) at any time thereafter make such payment or perform such act for the account of and at the expense of Tenant. All sums so paid by Landlord for:and all costs and expenses so incurred shall accrue interest at the rate of twelve percent (12%) from their due date until paid, said interest to

Appears in 1 contract

Samples: Alphacom Inc

Default by Tenant. Upon breach or default of this Lease by Tenant, Landlord may pursue any and all rights, at law or equity, against Tenant. Except when Landlord feels reasonably and justifiable insecure as to the solvency of the Tenant hereby acknowledges or its ability to perform its obligations under the Lease, Tenant will have 20 days after receipt of written notice from Landlord within which to completely cure any non-monetary default; however, if the non-monetary default is not completely cured within 20 days and Tenant demonstrates to Landlord that Tenant is using (and will continue to use) its best efforts to completely cure the non-monetary default, Tenant will have the additional time to cure as Landlord deems reasonably appropriate under the circumstances. In no event, however, will the time period within which Tenant must completely cure any non-monetary default extend to a period of time greater than 90 days. Without limiting the foregoing, at expiration of the term of this lease or if default is made in the payment of Rent or in the performance of any agreements of Tenant contained in this Lease, Landlord, or its agent, will have the right to enter and take possession of the Leased Premises. In the case of re-entry by Landlord, and Tenant agrees that if to deliver the Leased Premises without process of law, Tenant's rights to occupy or control the Leased Premises will immediately cease, and this Lease, at the option of Landlord, will terminate. If any default or breach by Tenant fails occurs, the obligations of Tenant under this Lease, including Tenant's obligation to pay Rent, will not cease, and Tenant will be liable for any loss or damage to Landlord for failure to comply with this Lease. If Landlord retakes possession of the Leased Premises, Landlord may remove and store all personal property of Tenant in any provision place selected by Landlord at the expense and risk of Tenant. Landlord may sell any or all of the property at public or private sale as provided by law and will apply the proceeds of the sale first to the cost of the sale, second to the payment of charges for storage, if any, third to the payment of other sums that may be due from Tenant to Landlord under the terms of this Lease, such failure shall and fourth the balance, if any, to Tenant. Tenant waives all claims for damages that may be deemed caused by Landlord's re-entering and taking possession of the Leased Premises, removing, storing, and/or selling the property of Tenant. No re-entry of Landlord will be considered or construed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:forcible entry.

Appears in 1 contract

Samples: Office Lease Agreement (Vestin Group Inc)

Default by Tenant. Tenant hereby acknowledges and agrees that if Tenant fails to comply with any provision of this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven S even (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:

Appears in 1 contract

Samples: Residential Lease Agreement

Default by Tenant. Tenant hereby acknowledges and City agrees that if upon the occurrence of any event of default under the Leasehold Mortgage, Leasehold Mortgagee may (but shall not be obligated) to assume, or cause a new lessee or purchaser of the leasehold estate created hereby to assume, all the interests, rights and obligations of Tenant fails thereafter arising under this Agreement; provided, however, that any new lessee or purchaser of the leasehold estate is a Qualified Transferee as defined in Section 10.2, and that any defaults by Tenant must be cured pursuant to comply with any provision of this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, Agreement as herein provided (other than any such default related to [i] the covenant institution of bankruptcy or insolvency proceedings with respect to pay rentTenant, [ii] the appointment of a receiver or trustee for the whole or any part of Tenant’s property, or with any present rules and regulations [iii] the dissolution or any that may be hereafter prescribed by Landlordwinding up, in whole or if Tenant fails in part, of Tenant). City hereby agrees to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself provide notice of any remedies that are available at law or in equity. If Landlord decides that default by Tenant should be allowed the opportunity under this Agreement to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance each Leasehold Mortgagee whose name and allowing Seven (7) days within which address has been provided to it may be corrected. If compliance and is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails designated as Leasehold Mortgagee pursuant to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agenciesArticle 11. In the event of any default by Tenant breaches (after exhaustion of the cure periods provided in Article 22 below), City shall refrain from exercising any remedy with respect to such Default unless and until (i) with respect to any default concerning the obligation to pay Rent, City shall give a further written notice thereof to Leasehold Mortgagee and such default remains uncured at the expiration of ten (10) days after Leasehold Mortgagee’s receipt of City’s written notice of such default; and (ii) with respect to any other default, City shall give a further written notice thereof to Leasehold Mortgagee and such default remains uncured at the expiration of thirty (30) days after Leasehold Mortgagee’s receipt of City’s written notice of such default; provided, however, that if such non-monetary default cannot with diligent efforts be cured within thirty (30) days, Leasehold Mortgagee shall have additional time to cure so long as Leasehold Mortgagee commences action to remedy such failure promptly following such notice and diligently prosecutes such action in good faith. City agrees to accept performance by Leasehold Mortgagee of any covenant, condition or agreement on Tenant’s part to be performed under this Lease, Agreement (whether prior to or after any default by Tenant) with the same force and effect as though performed by Tenant. It is understood that Leasehold Mortgagee is not obligated to cure defaults by Tenant will be liable to Landlord for:under Section 22.1 of this Agreement.

Appears in 1 contract

Samples: arlingtontx.granicus.com

Default by Tenant. Tenant hereby acknowledges and agrees that if Tenant Xxxxxx fails to comply with any provision of this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord Xxxxxxxx will attempt to mitigate any damage or loss caused by TenantXxxxxx’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:

Appears in 1 contract

Samples: Residential Lease Agreement

Default by Tenant. If Tenant hereby acknowledges defaults in the payment of rent, or in any other covenant of this Lease Agreement, Landlord shall have the right to give notice specifying the default and agrees allowing Tenant ten (10) days' grace thereafter in which to cure said default by making all payments due hereunder or otherwise undertaking a course of performance in cure of the default. Any tender of money from Tenant that if does not pay in full all Base Rent and other monthly obligations required hereby, together with all applicable late charges and any other charge due from Tenant fails to comply in accordance with any provision the terms of this Lease, may be accepted by Landlord without prejudice to Landlord's pursuit of the remedies available to Landlord hereunder, if Tenant's default is not timely cured. Landlord shall have no obligation whatever to utilize funds from the security deposit to cure any such failure monetary default. If Tenant fails to cure the default within said grace period, Landlord may pursue all remedies available to them under the forcible entry and detainer statute of Wyoming, If Tenant is in default under the terms, of this Lease and has abandoned the Premises, Landlord shall have the right to remove all of Tenant's property from the Premises and to dispose of such property in a reasonable manner. Abandonment of the Premises by Tenant shall not terminate this Lease, and Tenant shall remain liable for all monetary and other terms of this Lease, throughout the entire lease term, less the net amounts received by Landlord from re-­letting the Premises. If Tenant makes an assignment of Tenant's business or property for the benefit of Tenant's creditors; or if Tenant's leasehold interest hereunder shall be levied upon by execution or seized by virtue of any writ of any court of law; or if any application is made for the appointment of a receiver for the business or property of Tenant; Tenant shall he in default of this Lease, and Landlord may pursue all remedies available to it under the forcible entry and detainer statute of Wyoming. The remedies set forth herein shall not be exclusive of any other remedy available to Landlord under the statutes and court decisions of the State of Wyoming. Said remedies shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. No delay or omission by landlord to exercise any right or power arising from any default hereunder shall impair such right or power or be construed as a waiver of any such default or acquiescence therein. Landlord’s acceptance of rent shall not be deemed to be a material waiver of any breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, covenants herein contained or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any of the rights of Landlord to the remedies referred to herein. Any amount due to Landlord that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate paid when due hereunder shall bear interest at the Lease and/or avail itself rate of any remedies that are available at law or six percent (6%) per annum above the Prime Rate reported in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment WALL STREET JOURNAL as of the rent or possession of the Premisesdue date, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:from such due date until paid.

Appears in 1 contract

Samples: Commercial Lease (Labwire Inc)

Default by Tenant. If Tenant hereby acknowledges defaults in fulfilling any of the covenants in this lease, Landlord shall notify Tenant of the nature of the default. If such default is not remedied within thirty (30) days following such notice, all of Tenant’s rights under this lease shall terminate and agrees Tenant shall immediately quit and surrender the premises to Landlord. If the nature of the default is such that if Tenant fails it cannot reasonably be cured within thirty (30) days and work thereon has been commenced within that period and diligently prosecuted to comply with any provision completion, Tenant’s rights under this lease shall not terminate as a result of such default. If Tenant’s rights under this Lease, such failure shall be deemed lease are terminated due to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by lawdefault, Landlord may immediately terminate immediately, or at any time thereafter, re-enter the Lease leased premises and remove all persons and all property by any suitable action or proceeding by law and enjoy the premises. Landlord may, at its option, repair, alter, remodel and/or avail itself change the character of the premises as it may deem fit and/or at any time re-let the leased premises or any part thereof. The exercise by Landlord of any right granted in the sentence immediately preceding shall not relieve Tenant from the obligation to fulfill all other covenants required by this lease, at the time and in the manner provided herein. Landlord shall have the obligation to make reasonable attempts to re-let the premises and to mitigate its damages from the default. Landlord’s expenses incurred in connection with repairing, altering, or remodeling the premises and any other expenses incurred by it in connection with the re-letting of the leased premises (including but not limited to brokerage fees) if any, shall be Landlord’s obligation. In the event of a breach by Tenant of any of the covenants or provisions of this lease, in addition to the remedies that are provided above, Landlord shall have all other remedies available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:.

Appears in 1 contract

Samples: Lease Agreement

Default by Tenant. Upon default by Tenant hereby acknowledges and agrees that if Tenant fails to comply with of any provision of this Leaseobligation imposed hereunder, such failure shall be deemed to be a material or breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlordcovenants and/or agreements contained herein, or if Tenant fails to comply with satisfy any duties obligation or duty imposed on Tenant by lawhereunder and if Landlord is not currently in default, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that shall send Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying of the noncompliance default by United States Mail, certified mail, return receipt requested, in accordance with paragraph 27 hereof, and allowing Seven Tenant shall have ten (710) days from the date said notice is posted (the "Notice Date") to cure said default; provided, however, if such default cannot be cured within said ten (10) day period for reasons beyond the control of Tenant, Tenant shall have an additional period not to exceed thirty (30) days from the Notice Date, in which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equityto cure such default. If Tenant fails and/or refuses to pay rent when duecure such default within the time limits specified hereinabove, Landlord may: (a) Terminate this Lease and may file a Forcible Entry and Detainer suit in the default continues proper court for Three (3) days possession and after delivery of written demand by Landlord giving such notice, or if filing suit for payment of the rent or possession of the Premisespossession, Landlord may terminate the Lease. If accept payment for sums due herein without waiving or diminishing Landlord's right to proceed against Tenant breaches this Leasefor eviction, property damages, past or future rent, or other sums due herein, and demand that all rents which are payable during monthly rentals for the remainder of the Lease lease term or any renewal or extension thereof will period shall be accelerated automatically without further notice or demand to Tenant. Landlord will attempt to mitigate demand, and shall immediately become due and payable, and Report any damage unpaid sums due herein, breaches of this Lease or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable property damages, to credit reporting agenciesagencies for addition to Tenant's credit files, or (b) Enforce specific performance hereof, and (c) Bring suit against Tenant for all damages incurred by Landlord as a result of Tenant's default or negligence, including reasonable attorney's fees, costs of re-letting the Premises, which re-letting costs shall not exceed one month's rent. In Landlord shall make a reasonable effort to re-let the event Premises as soon as possible and all rentals received from such re- letting, if any, shall be credited against Tenant's liability for future rentals. Such re-letting shall not relieve Tenant breaches this Lease, Tenant will of Tenant's obligation to pay all rent due. Any or all such remedies may be liable to Landlord for:exercised either separately or concurrently. 21.

Appears in 1 contract

Samples: Commercial Lease Agreement

Default by Tenant. If any rent required by this Lease shall not be paid when due, or if the Tenant hereby acknowledges and agrees that if Tenant in any other manner fails to comply with perform any provision of the terms or conditions of this Lease, such failure including any of the provisions of the Rules and Regulations and any other applicable addendum hereto, Tenant shall be deemed to be a material breach of have breached this Lease and Landlord shall have all rights provided under local law and this Lease, including the right to terminate this Lease, retake possession of the unit, and recover damages. FurthermoreThe parties agree in advance that if, if Tenant fails prior to comply with any provision the expiration or termination of this Lease, other than Tenant vacates the covenant to pay rent, unit either voluntarily or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Leaseinvoluntarily, Tenant will be liable responsible for rent for the remaining Lease term which shall be immediately due and payable. Landlord shall use due diligence to re-let the Premises and all subsequent rentals received by Landlord for:in mitigation of damages (less cost of re-letting) shall be credited to such indebtedness and/or judgment or shall be refunded to the Tenant, whichever is appropriate. Even if the Premises are re-let without any loss of rent, deduction will be made for Landlord’s administrative/overhead expenses and turnover costs to re-letting the Premises. Such re-letting or deduction shall not constitute waiver of Landlord’s other rights or remedies under this Lease. Acceptance of monies is not a waiver of Landlord’s right of eviction, damages, past due rent or other sums due, regardless of whether eviction suit has been filed. Retention of the Security Deposit or termination of this Lease by Landlord shall not constitute a limitation of Landlord’s right to damages.

Appears in 1 contract

Samples: Residential Lease Agreement

Default by Tenant. If Tenant hereby acknowledges shall fail to pay any installment of Fixed Annual Rent or Additional Rent on the day the same shall become due and agrees that if Tenant fails to comply with any provision of this Leasepayable hereunder, and such failure shall be deemed to be continue for a material breach period of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by five (5) business days after notice thereof from Landlord, or if Tenant fails shall fail to comply keep and perform promptly any other covenant of this Lease in accordance with any duties imposed on the terms of this Lease and such failure shall continue for a period of thirty (30) days after notice thereof from Landlord (collectively “Tenant by lawEvent of Default”), Landlord may immediately terminate serve a written three (3) days notice of cancellation of this Lease upon Tenant, and upon the expiration of said three (3) days, this Lease and/or avail itself and the Term hereunder shall end and expire as fully and completely as if the expiration of such three (3) day period were the day herein definitely fixed for the end and expiration of this Lease and the Term hereof and Tenant shall then quit and surrender the Demised Premises to Landlord but Tenant shall remain liable as hereinafter provided, or Landlord may pursue any other available legal or equitable remedy. For purposes hereof, the term Tenant Event of Default shall also mean an “Event of Default” as that term is used under the Guaranty made by Tenant’s parent, ICON plc, a copy of which is attached hereto as Exhibit “G”. Upon occurrence of a Tenant Event of Default Landlord may, without further notice, re-enter the Demised Premises and dispossess Tenant by summary proceedings or other legal means, and the legal representative of Tenant or other occupant of Demised Premises and remove their effects and hold the Demised Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end. Notwithstanding the foregoing, if Tenant cannot cure a non-monetary default with due diligence prior to the expiration of thirty (30) days from the date of Tenant’s receipt of the notice provided for above, and if Tenant commences within thirty (30) days after Tenant’s receipt of the notice to eliminate the cause of such default and proceeds diligently and with reasonable dispatch to take all steps and do all work in order to cure such default, then Landlord shall not have the right to exercise its remedies hereunder by reason of such default so long as said Tenant Event of Default is completely cured within ninety (90) days. Thereafter, Tenant’s failure to so remedy the nonmonetary default will be an Tenant Event of Default under this Lease. In case of any remedies Tenant Event of Default, re-entry, expiration and/or dispossession by summary proceedings or otherwise, (a) the Fixed Annual Rent, and Additional Rent, shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration; (b) Landlord may re-rent the Demised Premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms, which may at Landlord’s option be less than or exceed the period which would otherwise have constituted the balance of the Term and may grant concessions or free rent or charge a higher rental than that in this Lease; and/or (c) Tenant or the legal representatives of Tenant shall also pay Landlord as liquidated damages for the failure of Tenant to observe and perform said Tenant’s covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the net amount, if any, of the rents collected on account of the subsequent lease or leases of the Demised Premises for each month of the period which would otherwise have constituted the balance of the Term. The failure of Landlord to re-let the Demised Premises or any part or parts thereof shall not release or affect Tenant’s liability for damages. In computing such liquidated damages there shall be added to the said deficiency such reasonable expenses as Landlord may incur in connection with re-letting, such as legal expenses, reasonable attorney’s fees, brokerage, advertising and for keeping the Demised Premises in good order or for preparing the same for re-letting. Any such liquidated damages shall be paid in monthly installments by Tenant on the rent days specified in this Lease. Landlord, in putting the Demised Premises in good order or preparing the same for re-rental may, at Landlord’s option, make such alterations, repairs, replacements and/or decorations in the Demised Premises as Landlord’s sole judgment, considers advisable and necessary for the purpose of re-letting the Demised Premises, and the making of such alterations, repairs, replacements, and/or decorations shall not operate or be construed to release Tenant from liability. Landlord shall in no event be liable in any way whatsoever for failure to re-let the Demised Premises, or in the event that the Demised Premises are available re-let, for failure to collect the rent thereof under such re-letting, and in no event shall Tenant be entitled to receive any excess, if any, of such net rent collected over the sums payable by Tenant to Landlord hereunder. Whether or not Landlord shall have collected any monthly deficiency as aforesaid, Landlord shall be entitled to recover from Tenant, and Tenant shall pay to Landlord on demand in lieu of any further deficiency as and for liquidated damages, a sum equal to the amount by which the rents for the period that otherwise would have constituted the unexpired portion of the Term exceeds the then fair market rental value of the Demised Premises for the same period (first deducting from such fair market rental value all of Landlord’s reasonable expenses in connection with the termination of this Lease, Landlord’s re-entry upon the Demised Premises and reletting costs, if any, including all repossession costs, brokerage commissions, attorney’s fees and disbursements, alteration costs and other expenses of preparing the Premises for reletting, but only to the extent such expenses have not already been paid to Landlord through prior court proceedings or otherwise), both discounted to present value at the rate of six percent (6%) per annum, less the aggregate amount of deficiencies theretofore collected by Landlord for the same period; provided, however, that if, before presentation of proof of such liquidated damages to any court, commission or tribunal, the Demised Premises, or any part thereof, shall have been relet by Landlord in an arms length transaction for the period that otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair market rental value for the part of the Demised Premises so relet during the term of the reletting. In the event of a breach or threatened breach by Tenant of any of the covenants or provisions hereof, Landlord shall have the right of injunction and the right to invoke any remedy allowed at law or in equityequity as if re-entry, summary proceedings and other remedies were not herein provided for. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Mention in this Lease and/or avail itself of any remedies that are available at particular remedy shall not preclude Landlord from any other remedy, in law or in equity. If Tenant fails to pay rent when due, Landlord’s choice of remedies being cumulative and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordinglynot exclusive. Tenant hereby acknowledges that unpaid rent expressly waives any and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:all rights of redemption granted by or under any present or future laws.

Appears in 1 contract

Samples: Agreement of Lease (Icon PLC /Adr/)

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Default by Tenant. Tenant hereby acknowledges covenants and agrees that, if the rental ----------------- reserved by this Lease, or other charges to be paid hereunder by Tenant, or any part thereof, shall be unpaid when due, or Tenant shall fail to perform any of the other covenants, conditions or agreements herein contained, or if the Premises should be abandoned by Tenant, Landlord may at its option, recover and resume possession of the Premises by process of law; provided however, that if the default be made in the payment of rentals or other charges to be paid by Tenant, then the said Landlord shall first give Tenant fails ten (10) days notice in writing to comply with cure said default, which notice shall specify the nature and character of said default of defaults, and if the default shall consist in Tenants failure to perform any provision of the other covenants, conditions and agreements herein contained then Landlord shall first give Tenant Thirty (30) days' notice in writing to cure said default or defaults, and upon the failure of Tenant to cure said defaults within the time specified in the applicable notice, Landlord may exercise the rights herein granted; provided however, that if such defaults is by its nature impossible to cure within said thirty (30) days and thereafter diligently pursues the cure of said default, to completion as soon as reasonably possible, then Tenant shall not be in default. In the event of such resumption of possession under this Lease, or by summary proceedings, or by any other means, Landlord may remove all persons and property from the Premises and may relet the same as agent for Tenant. Landlord shall be entitled to hold Tenant liable for the difference between the rent herein provided to be paid and other charges payable by Tenant hereunder, during the residue of the original term of this Lease had it continued in force, and the net rent for the residue of the term realized by Landlord by means of reletting the premises to other parties. Tenant agrees that such net rent shall be determined by deducting from the entire rent received by reason of such reletting the expense incurred by Landlord for necessary repairs to the premises or by reason of any breach of the terms, covenants, and conditions of this Lease, and all and any necessary expense incurred in recovering the possession of the premises, and the cost and expenses of such failure reletting, including the reasonable cost of removing Tenants temporary improvements, but not including any expenses in connection with remodeling for a new Tenant agrees that said reletting may be for the whole or the residue of the demised term or for portions thereof from time to time as opportunity may offer and as Landlord may deem expedient, and in such case Tenant shall be deemed liable for such difference from time to time as the rent would have fallen due if this lease have continued, deducting from the payments so to be made by Tenant from a material breach of this Leasegiven period as provided, herein, the net realized during the same period by reletting as aforesaid. FurthermoreLandlord may, if Tenant fails to comply with any provision of at its option, terminate this Lease, other than and landlord, shall be entitled to recover from Tenant as damages the covenant to pay rentdifference, or with any present rules and regulations or any that may be hereafter prescribed by Landlordif any, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate between the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession reasonable rental value of the Premises, Landlord may terminate for the Lease. If Tenant breaches balance of term reserved in this Lease, all rents which are and the amount of rental and other charges payable during by Tenant for the remainder balance of the term of this Lease term together with the Rent then unpaid, including all reasonable attorney's fees, to be fixed by the court, which may be incurred in recovering the possession of said Premises or which may be incurred in collecting such damaged or such rents. It is further understood and agreed, that in the event Landlord shall elect to terminate this Lease as provided in this paragraph, Landlord shall give written notice to Tenant to that effect and may, at its option, immediately institute legal proceedings to collect all of said rental or damages, if any extension thereof will be accelerated without further notice or demand to Tenant. due Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:.

Appears in 1 contract

Samples: Biomarin Pharmaceutical Inc

Default by Tenant. Tenant hereby acknowledges and agrees that if Tenant fails to comply with any provision of this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules promptly said rent and regulations or any all other charges that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate accrue under this lease. In the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides event that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver in default thereof for a written notice specifying the noncompliance and allowing Seven period of seven (7) days within which it may be corrected. If compliance is not madeafter the same shall become due and payable, Landlord may then terminate shall have the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, option of: (1) Terminating this lease and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or resuming possession of the Premisespremises for its own account and recovering from Tenant the damage between the rent specified in this lease and the rental value thereof for the balance of the term, Landlord may terminate reduced to its present worth; (2) Or, enter the Lease. If premises as agent of Tenant breaches this Lease, all rents which are payable during and rent the same for the remainder of the Lease term for the account of Tenant and recovery from Tenant either at the end of the term or as each payment becomes due, as Landlord may choose, the difference between the rent called for in this lease and the rent received on re-renting. Default on Tenant's part in keeping or performing any extension other term, covenant, or condition of this lease, shall authorize Landlord, at its option at any time after such default, and after ten (10) days' written notice thereof will be accelerated without further notice or demand to Tenant. , immediately, or at any time thereafter, to re-enter said premises and remove all persons therefrom with or without legal process, and without prejudice to any of its other legal rights, and all claims for damages by reason of such re-entry are expressly waived, as also are all claims for damages by reason of any distress warrants or proceedings by way of sequestration which Landlord will attempt may employ to mitigate recover said rents, or possession of said premises, and Landlord shall have the options set forth in the preceding paragraph pertaining to a default in payment of rents, provided that Landlord shall not have the right to re-enter if, within ten (10) days after written notice of any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Leasedefault, Tenant will be liable to Landlord for:fully cures all defaults.

Appears in 1 contract

Samples: Building Lease Agreement (Marex Com Inc)

Default by Tenant. In the event Tenant hereby acknowledges and agrees that if Tenant fails to make any rental payments herein provided within the time required, or in the event tenant fails to comply with any provision other term, covenant, condition or agreement herein contained, or if Tenant abandons the Premises (tenants absence from the Premises for the period of this Leasetime designated by applicable state law, such failure shall while all or any portion of any rental payment is delinquent being deemed an “abandonment” of the Premises), Tenant will be deemed to be a material breach considered in default of this Lease. Furthermore, if Tenant fails In the event of a default Agent is entitled to comply with pursue any provision of this Lease, other than the covenant to pay rent, rights or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant remedies provided by law. At the option of Agent, Landlord Agent may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance enter and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or take possession of the Premises, Landlord and may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during relet same for the remainder of the Lease term or for the best rental which owner may be able to attain without otherwise terminating the liability of Tenant hereunder, in such event, Tenant shall remain liable to Agent for any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet deficiency in the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agenciesfor the balance of the term of the Lease. In the event of a default, Agent may declare the entire unpaid rent for the term of this Lease to be immediately due and payable, and, at Agents option, take immediate action to recover and collect the same by any available procedure, which shall be in addition to any other rights of Agent under this Lease. In the event Agent terminates this Lease and reenters and takes possession of the Premises, or if Agent takes possession without terminating the Lease, and in, either case removes the personal property of tenant therefrom, Agent shall have the right to place said property of tenant in storage, at tenant’s expense. In addition to all other remedies provided herein, Tenant breaches agrees to, (I) compensate Agent for reasonable costs and expenses necessary to enforce this Lease and any rights or remedies of Agent provided by law, in equity or by the provisions hereof, and (II) permit Agent to collect the rent damages for breach of this Lease, Tenant will be liable including but not limited to, all court costs, reasonable attorney’s fee incurred in connection herewith, as well as or reasonable expenses necessary for the removal of personal property therefrom and to Landlord for:the reletting or the attempted reletting of the Premises which shall include, but not limited to, the costs of minor repairs and replacements, advertisements, brokerage fees and other expenses caused by tenant’s breach of any of the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement

Default by Tenant. Should Tenant hereby acknowledges and agrees that if Tenant fails to comply with at any provision time violate any of the conditions or covenants of this Lease, or discontinue the use of the Leased Premises for the purpose for which they are rented, or fail to pay the rent punctually at maturity, as stipulated herein; or fail to pay all costs related to any work performed on the Leased Premises or costs related to the maintenance or repair of any equipment or item located thereon within thirty (30) days such expense is incurred; or upon the adjudication of Tenant in bankruptcy, the appointment of a receiver for Tenant, or the filing of bankruptcy, receivership or respite petition by or for Tenant; or upon Tenant's suspension, failure shall be deemed or insolvency; should Tenant abandon the Leased Premises, or should Tenant remove a substantial part or all of the movable property from the Leased Premises out of the normal course of business to be the detriment of Landlord's lien; and should any such violation continue for a material breach period of five (5) days after written notice has been given Tenant by Landlord, then, at the option of Landlord, the rent for the whole unexpired term of this Lease shall at once mature and become immediately due and payable; and Landlord shall have the further option to at once demand the entire rent for the whole term, or to immediately cancel this Lease, or to proceed for past due installments only, reserving Landlord's rights to later proceed for the remaining installments, all without putting Tenant in default, Tenant to remain responsible for all damages or losses suffered by Landlord, Tenant hereby assenting thereto and expressly waiving any legal notices to vacate the Leased Premises. FurthermoreLandlord shall also have the right to re-enter the Leased Premises and to re-rent the Leased Premises at the best obtainable price, and Tenant shall remain liable to Landlord for any difference in the rent price in the event the re-renting is for a lesser rental. Tenant shall also be responsible to Landlord for any expenses, commissions or fees in connection with such re-renting. Exercise of this right of re-entry and privilege to re-let shall not in any way prejudice Landlord's right to hold Tenant liable for any amount due under this Lease in excess of the amount for which the property is re-let. In addition, if Tenant fails or refuses to comply with any provision of this Lease, other than permit Landlord to re-enter the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Leased Premises, Landlord shall have the right to eject Tenant in accordance with the provisions of Louisiana Code of Civil Procedure, Articles 4701-4735, without forfeiting any of Landlord's rights under this paragraph or under the other terms of this Lease and Landlord may terminate at the Leasesame time or subsequently xxx for any money due or to enforce any other rights which Landlord may have. If Tenant breaches All rights and remedies of Landlord under this Lease, all rents which are payable during the remainder of the Lease term shall be cumulative and none shall exclude any other rights or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused remedies allowed by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:law.

Appears in 1 contract

Samples: Lease Agreement

Default by Tenant. Upon breach or default of this Lease by Tenant, Landlord may pursue any and all rights, at law or equity, against Tenant. Except when Landlord feels reasonably and justifiably insecure as to the solvency of the Tenant hereby acknowledges or its ability to perform its obligations under the Lease, Tenant will have 20 days after receipt of written notice from Landlord within which to completely cure any non-monetary default; however, if the non-monetary default is not completely cured within 20 days and Tenant demonstrates to Landlord that Tenant is using (and will continue to use) its best efforts to completely cure the non-monetary default, Tenant will have the additional time to cure as Landlord deems reasonably appropriate under the circumstances. In no event, however, will the time period within which Tenant must completely cure any non-monetary default extend to a period of time greater than 90 days. Without limiting the foregoing, at expiration of the term of this Lease or if default is made in the payment of Rent or in the performance of any agreements of Tenant contained in this Lease, Landlord, or its agent, will have the right to enter and take possession of the Leased Premises. In the case of re-entry by Landlord, and Tenant agrees that if to deliver the Leased Premises without process of law, Tenant's rights to occupy or control the Leased Premises will immediately cease, and this Lease, at the option of Landlord, will terminate. If any default or breach by Tenant fails occurs, the obligations of Tenant under this Lease, including Tenant's obligation to pay Rent will not cease, and Tenant will be liable for any loss or damage to Landlord for failure to comply with this Lease. If Landlord retakes possession of the Leased Premises, Landlord may remove and store all personal property of Tenant in any provision place selected by Landlord at the expense and risk of Tenant Landlord may sell any or all of the property at public or private sale as provided by law and will apply the proceeds of the sale first to the cost of the sale, second to the payment of charges for storage, if any, third to the payment of other sums that may be due from Tenant to Landlord under the terms of this Lease, such failure shall and fourth the balance, if any, to Tenant. Tenant waives all claims for damages that may be deemed caused by Landlord's re-entering and taking possession of the Leased Premises, removing, storing, and/or selling the property of Tenant. No re-entry of Landlord will be considered or construed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:forcible entry.

Appears in 1 contract

Samples: Office Lease Agreement (Vestin Group Inc)

Default by Tenant. Tenant hereby acknowledges and agrees that if Tenant fails to comply with any provision shall be considered in default ("Default") of this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, Lease if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7i) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three Base Rent within fifteen (315) days after delivery Tenant receives notice from Landlord that the Base Rent was not received; or (ii) Tenant fails to perform any of its other obligations under this Lease within thirty (30) days or within a reasonable period of time thereafter if a cure cannot be accomplished with thirty (30) days after receiving written demand by notice from Landlord for payment specifying that such Default exists, setting forth in reasonable detail the nature and extent of the rent Default and identifying the applicable Lease section(s). If Tenant is in Default as stated above, Landlord, in addition to the remedies given in this lease or under the law, may end this Lease after giving Tenant thirty (30) days notice of its intention to do so and in accordance with any laws governing such termination, and Tenant shall then surrender the Premises to Landlord; or Landlord may enter and take possession of the Premises, Landlord may terminate in accordance with any laws governing such repossession, and remove Tenant, with or without having ended the Lease. Landlord's exercise of any of its remedies or its receipt of Tenant's keys shall not be considered an acceptance or surrender of the Premises by Tenant. A surrender must be agreed to in writing signed by both parties. If Landlord terminates this Lease or terminates Tenant's right to possess the Premises because of a Tenant breaches this LeaseDefault, all rents which are Landlord may hold Tenant liable for the difference between (i) the Base Rent and other indebtedness that otherwise would have been payable by Tenant to Landlord prior to the Lease Expiration Date, and (ii) any sums Landlord receives by reletting the Premises during the remainder of the Lease term Term. Tenant shall pay any such sums due within thirty (30) days of receiving Landlord's proper and correct invoice for the amounts. Landlord is not entitled to accelerate the Base Rent or any extension thereof will other amounts which would become due from Tenant to Landlord. During each collection action, Landlord shall be accelerated without further notice or demand limited to Tenantthe amount of the Base Rent due that would have accrued had the Lease not been terminated. Landlord will attempt to shall mitigate any its damage or loss caused by Tenant’s breach by attempting making best efforts to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:on reasonable terms.

Appears in 1 contract

Samples: Lease Agreement (Modus Media International Holdings Inc)

Default by Tenant. If the Tenant hereby acknowledges shall abandon or vacate the leased premises for a period in excess of thirty (30) days, or shall neglect to make any payment of rental when due or neglect to do anything herein agreed to be done by the said Tenant, then the Landlord may declare this Lease terminated and agrees that if may re-enter and take possession of the leased premises. Any termination and re-entry by the Landlord (whether by way of ejectment or summary ejectment of the Tenant fails or otherwise) shall be without prejudice to comply with any provision other legal remedies which the Landlord may have on account of such default by the Tenant, and the Tenant shall not thereby be relieved of liability under this Lease, and shall be and remain liable for the payment of the rentals herein reserved. In the event of any breach by the Tenant under the terms of this Lease, such failure the Tenant shall be deemed responsible for the Landlord’s reasonable attorneys’ fees. If the Landlord shall elect to terminate the Tenant’s right to possession only as above provided, without terminating the term hereof, the Landlord shall exercise reasonable diligence to relet said premises and, in so doing, the Landlord may enter into the premises and make such renovations and/or repairs as may be necessary in order to relet the premises (at Tenant’s expense), and relet said premises or any part thereof for such term or terms (which may be for a material breach term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as the Landlord in his sole discretion may deem advisable. FurthermoreUpon each such reletting, all rentals received by the Landlord from such reletting shall be applied, first, to the payment of any indebtedness other than rent due hereunder from the Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including brokerage fees and costs of required renovations and/or repairs; third, to the payment of attorneys’ fees and rent due and unpaid hereunder; and the residue, if Tenant fails to comply with any provision any, shall be held by the Landlord and applied in payment of this Lease, other than future rents as the covenant to pay rent, or with any present rules same may become due and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equitypayable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by the Tenant hereunder, the Tenant shall pay any such deficiency to the Landlord. Such deficiency shall be calculated and paid monthly. No such re-entry or taking possession of said premises by the Landlord decides that Tenant should shall be allowed the opportunity construed as an election on his part to correct the noncompliance, Landlord may deliver terminate this Lease unless a written notice specifying of such intention be given to the noncompliance and allowing Seven (7) days within which it may Tenant or unless the termination thereof be correcteddecreed by a Court of competent jurisdiction. If compliance is not madeNotwithstanding any such reletting without termination, the Landlord may then at any time thereafter elect to terminate the term of this Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:such previous breach.

Appears in 1 contract

Samples: Lease (Computer Software Innovations Inc)

Default by Tenant. Tenant hereby acknowledges and agrees that if Tenant fails to comply with any provision shall be considered in default ("Default") of this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven if; (7i) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three Rent within fifteen (315) days after delivery Tenant receives notice from Landlord that the Rent was not received; or (ii) Tenant fails to perform any of its other obligations under this Lease within thirty (30) days or within a reasonable period of time thereafter if a cure cannot be accomplished with thirty (30) days after receiving written demand by notice from Landlord for payment specifying the Default. If Tenant is in Default, as stated above, Landlord, in addition to the remedies given in this lease or under the law, may; (i) terminate this Lease after giving Tenant thirty (30) days written notice of its intention to do so in accordance with any laws governing such termination and subsequent repossession, and Tenant shall then surrender the rent Premises to Landlord; or (ii) Landlord may enter and take possession of the Premises, Landlord may terminate in accordance with any laws governing such repossession, and remove Tenant, with or without having terminated the Lease. Landlord's exercise of any of its remedies or its receipt of Tenant's keys shall not be considered an acceptance or surrender of the Premises by Tenant. A surrender must be agreed to in writing signed by both parties. If Landlord terminates this Lease or terminates Tenant's right to possess the Premises because of a Tenant breaches this LeaseDefault, all rents Landlord may hold Tenant liable for; (i) the Rent and other indebtedness that otherwise would have been payable by Tenant to Landlord prior to the Lease Expiration Date, less any amounts which are payable Landlord receives in reletting the Premises during the remainder of the Lease term Term; and (ii) other necessary and reasonable expenses incurred by Landlord in enforcing its remedies. Tenant shall be liable for only those actual damages suffered by Landlord. Tenant shall pay any such sums due within thirty (30) days of receiving Landlord's proper and correct invoice for the amounts. Landlord is not entitled to accelerate the Rent or any extension thereof will other amounts which would become due from Tenant to Landlord. During each collection action, Landlord shall be accelerated without further notice or demand limited to Tenantthe amount of any Base Rent due that would have accrued had the Lease not been terminated. Landlord will attempt to shall mitigate any damage or loss caused by Tenant’s breach by attempting making best efforts to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:on reasonable terms.

Appears in 1 contract

Samples: Lease Agreement (Travelers Property Casualty Corp)

Default by Tenant. (a) In the event of (a) a default in any of the covenants or agreements herein contained to be kept by Tenant and such default shall continue for five (5) days, in case of a default in the payment of rental or other monetary sum, or for twenty (20) days, in case of any other defaults, after written notice of such default is given to Tenant by Landlord or Landlord's agents, or (b) the filing of any petition in bankruptcy or insolvency or arrangement by or against Tenant or Tenant's adjudication as a bankrupt or insolvent, or, (c) the appointment of a receiver for Tenant, or (d) the making by Tenant of any general assignment for the benefit of creditors, or (e) the Suite being vacated, then in any of the foregoing events Landlord may, if it so elects, without notice terminate this Lease and declare the term ended, re-enter the Suite, and with or without process of law expel and remove the Tenant therefrom and again repossess and enjoy the Suite, all without prejudice to any remedies which might otherwise be available to Landlord. Such expulsion or removal shall not affect the liability of Tenant for rental or other charges or obligations past due or thereafter accruing under this Lease. All Landlord's remedies shall be cumulative and not exclusive of other available remedies. Tenant hereby covenants and agrees that in the event of Tenant's failure to pay rental and other charges when due, and further failure to cure such payment default or defaults within the grace periods hereinabove provided, that Landlord shall be entitled to charge, and Tenant shall become fully obligated to pay, from and after the due date thereof, interest on all such unpaid sums at the rate of eighteen percent (18%) per annum. Tenant acknowledges and agrees that if Tenant fails to comply with any provision of this Lease, such failure Landlord shall be deemed entitled to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, charge and collect interest on past due rentals and other than charges notwithstanding the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by law, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides fact that Tenant should be allowed may amortize all or some portion of leasehold improvements in the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment Suite as part of the rent or possession of the Premises, Landlord may terminate the Lease. If Base Rent paid by Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:hereunder.

Appears in 1 contract

Samples: Office Lease (Morgan Products LTD)

Default by Tenant. Tenant hereby acknowledges and agrees that if Tenant fails to comply with any provision of this Lease, such failure The following shall be deemed to be events of default (an “Event of Default”) by Tenant under this Lease: (a) default in the payment of Rent or any other sums payable by the Tenant herein, and such default shall continue for a material breach period of ten (10) days without notice by Landlord; (b) default in the performance of any other covenants or agreements of this Lease and such default shall continue for a period of thirty (30) days after written notice thereof provided that, if such default cannot reasonably be cured within such thirty (30) day period, as long as Tenant has commenced actions to cure such default within said thirty (30) day period and at all times thereafter diligently pursues such cure of any such default, Tenant shall not be in default; or (c) Tenant or any guarantor of Tenant's obligations hereunder shall file a voluntary petition in bankruptcy, be adjudged bankrupt, be placed in or subjected to receivership, or make an assignment for the benefit of creditors; or (d) abandonment. Tenant is presumed to have abandoned the premises if goods, equipment, or other property, in an amount substantial enough to indicate a probable intent to abandon the premises, is being or has been removed from the premises and the removal is not within the normal course of the Tenant’s business in the Landlord’s sole discretion. Without declaring the Lease terminated, Landlord may enter upon the Leased Premises, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to surrender the Leased Premises, Landlord may, without prejudice to any other remedy which it may have for possession or arrearages in Rental, take possession of the Leased Premises by picking or changing locks if necessary, and lock out, expel or remove Tenant and any other person who may be occupying all or any part of the Leased Premises without being liable for any claim for damages, and relet the Leased Premises on behalf of Tenant and receive the rent directly by reason of the reletting. Xxxxxx agrees to pay Landlord on demand any deficiency that may arise by reason of any reletting of the Leased Premises; further, Xxxxxx agrees to reimburse Landlord for any expenditures made by it in order to relet the Leased Premises, including, but not limited to, remodeling and repair costs. Without declaring the Lease terminated, and without notice, Landlord may enter upon the Leased Premises, by picking or changing locks if necessary, without being liable for any claim for damages, and do whatever Tenant is obligated to do under the Terms of this Lease. FurthermoreXxxxxx agrees to reimburse Landlord on demand for any expenses which Landlord may incur in effecting compliance with Tenant's obligations under this Lease; further, Xxxxxx agrees that Landlord shall not be liable for any damages resulting to Tenant from effecting compliance with Tenant's obligations under this Lease even when caused by the negligence of Landlord or otherwise. Landlord may terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to comply with any provision of this Lease, other than surrender the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by lawLeased Premises, Landlord may immediately terminate the Lease and/or avail itself of may, without prejudice to any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliance, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within other remedy which it may be corrected. If compliance is not madehave for possession or arrearages in Rental, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, enter upon and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or take possession of the Leased Premises, by picking or changing locks if necessary, and lock out, expel or remove Tenant and any other person who may be occupying all or any part of the Leased Premises without being liable for any claim for damages. Tenant agrees to pay on demand the amount of all loss and damage which Landlord may terminate suffer for any reason due to the Lease. If termination of this Lease under this Section 23(b), including (without limitation) loss and damage due to the failure of Tenant breaches this Lease, all rents which are payable during to maintain and/or repair the remainder Leased Premises as required hereunder and/or due to the inability of the Lease term or any extension thereof will be accelerated without further notice or demand to Tenant. Landlord will attempt to mitigate any damage or loss caused by Tenant’s breach by attempting to relet the Leased Premises to acceptable tenants thereby reducing Tenant’s liability accordingly. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable to credit reporting agencies. In the event Tenant breaches this Lease, Tenant will be liable to Landlord for:on satisfactory terms or otherwise.

Appears in 1 contract

Samples: Lease Agreement

Default by Tenant. If Tenant hereby acknowledges shall default in the payment ------------------ of Annual Rent or Additional Rent and agrees such default shall continue for fifteen (15) days after notice thereof from Landlord or if Tenant shall default in the performance of any of its other obligations under this Lease and if such default shall continue for thirty (30) days after notice thereof from Landlord specifying in what manner Tenant has defaulted (except that if such default cannot be cured within said thirty (30) day period, this period shall be extended for a reasonable additional time, provided that Tenant commences to cure such default within the initial thirty (30) day period and proceeds diligently thereafter to effect such cure) Landlord may (i) cure such default and any costs and expenses incurred by Landlord therefor shall be deemed Additional Rent payable on demand or (ii) enter the Leased Premises without terminating the Lease and repossess the same and expel Tenant and those claiming under Tenant, without being liable to prosecution or any claim for damages therefor, and relet the Leased Premises as the agent of the Tenant, and receive the rental therefor, and the Tenant shall pay the Landlord any deficiency that may arise by reason of such reletting, on demand at any time and from time to time at the office of Landlord, or (iii) terminate this Lease by written notice at once or at any time thereafter so long as any default remains uncured, in which event Tenant shall immediately surrender the Leased Premises to Landlord, but if Tenant fails to comply with any provision of this Lease, such failure shall be deemed to be a material breach of this Lease. Furthermore, if Tenant fails to comply with any provision of this Lease, other than the covenant to pay rent, or with any present rules and regulations or any that may be hereafter prescribed by Landlord, or if Tenant fails to comply with any duties imposed on Tenant by lawdo so, Landlord may immediately terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Landlord decides that Tenant should be allowed the opportunity to correct the noncompliancemay, Landlord may deliver a written notice specifying the noncompliance and allowing Seven (7) days within which it may be corrected. If compliance is not made, Landlord may then terminate the Lease and/or avail itself of any remedies that are available at law or in equity. If Tenant fails to pay rent when due, and the default continues for Three (3) days after delivery of written demand by Landlord for payment of the rent or possession of the Premises, Landlord may terminate the Lease. If Tenant breaches this Lease, all rents which are payable during the remainder of the Lease term or any extension thereof will be accelerated without further notice and without prejudice to any other remedy Landlord may have for possession or demand arrearages in rental or damages for breach of contract, enter upon the Leased Premises and expel or remove Tenant and its personalty, without being liable to Tenant. prosecution or any claim for damages therefor; and Tenant agrees to indemnify Landlord will attempt to mitigate any for all loss and damage or loss caused which Landlord may suffer by Tenant’s breach by attempting reason of such Lease termination, whether through inability to relet the Premises to acceptable tenants thereby reducing Tenant’s liability accordinglyLeased Premises, or through decrease in rentals, or otherwise. Ten (10) days of the resolution of such dispute. Tenant hereby acknowledges that unpaid rent and unpaid damages are reportable Landlord shall proceed diligently to credit reporting agenciesresolve any such dispute by agreement or arbitration in accordance with Article 38 or otherwise. In Any amount determined to be payable hereunder shall be paid together with interest from the event Tenant breaches this Lease, Tenant will be liable to Landlord for:date same was first due hereunder at the rate set forth in Section 39.09 hereof.

Appears in 1 contract

Samples: Sub Sublease Agreement (Manhattan Associates Inc)

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