DEFAULT PROVISIONS AND REMEDIES. SECTION 13.01. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, any one or more of the following events (herein called an “event of default”) shall occur, that is to say: (a) if Tenant shall fail to pay any installment of the rent set forth in Section 2.01 of this Lease, or any part thereof, when the same shall become due and payable, and such failure shall continue for five (5) days after written notice thereof from Landlord; provided, however, Landlord shall only be obligated to provide two (2) such five (5) day notice periods within any twelve (12) month period during the term of this Lease, and, upon the third delinquency in the payment of any rent due hereunder during any said twelve (12) month period, Tenant shall immediately be in default under this Lease without any further notice from Landlord; or (b) if Tenant shall fail to pay any sum or other charge required to be paid by Tenant hereunder (other than the payment of the rental as set forth in said Section 2.01), and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant; or (c) if Tenant shall make an assignment for the benefit of its creditors; or (d) if any petition shall be filed against Tenant in any court, whether or not pursuant to any statute of the United States or of any state, in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and remains undismissed for sixty (60) days or Tenant requires or consents to any such petition or filing, or if any such petition shall be so filed by Tenant; or (e) if, in any proceeding, a receiver or trustee be appointed for all or any portion of Tenant’s property; or (f) if Tenant shall abandon the Demised Premises for a period in excess of thirty (30) days, it being presumed that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for such thirty (30) consecutive day period without excuse as specifically allowed under the terms and provisions of this Lease; or (g) if Tenant shall assign, mortgage or encumber this Lease, or sublet the whole or any part of the Demised Premises, otherwise than as expressly permitted hereunder, or if this Lease or the estate of Tenant hereunder shall be transferred, or passed to, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; or (h) if Tenant shall fail to perform or observe any other requirement of this Lease (not hereinbefore in this Section 13.01 specifically referred to) on the part of Tenant to be performed or observed, and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant unless a shorter period of time is allowed under this Lease; provided, however, that, if such default cannot be cured with the exercise of diligent efforts within such thirty (30) days, such thirty (30) day period shall be extended for such period of time, not exceeding an additional sixty (60) days, as shall be required for Tenant, in the exercise of diligent efforts, to cure the default unless a shorter period of time is required under the provisions of any mortgage encumbering the Demised Premises; or (i) If an “Event of Default” shall occur under the terms and conditions of that certain Lease Agreement of even date herewith by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 Xxxxx Xxxxx, Xxxxx, Xxxxxxx, (the “Adamo Drive Lease”) if, and only if, at such time, the Landlord of the Adamo Drive Lease and the Landlord under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, then upon the happening of any one or more of the aforementioned events of default, and the expiration of the period of time prescribed in any such notice, Landlord may exercise any and all rights and remedies under this Lease and Florida law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided. SECTION 13.02. In the event of any such default or breach by Tenant, in addition to all remedies available at law or in equity, Landlord may at any time thereafter, with or without notice, and without limiting Landlord in the exercise of any right or remedy which Landlord may have by reason of such default or breach: (a) Terminate Tenant’s right to possession of the Demised Premises by any lawful means, in which case the term of this Lease shall expire and Tenant shall immediately surrender possession of the Demised Premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the cost of recovering possession of the Demised Premises, expenses of reletting, reasonable attorneys’ fees, and any real estate commission actually paid or required to be paid. (b) Reenter and take possession of the Demised Premises and relet the same for Tenant’s account, holding Tenant liable in damages for all expenses incurred by Landlord in any such reletting and for any difference between the amount of rents received from such reletting and those due and payable under the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premises, Landlord shall have the right to lease or let the Demised Premises or portions thereof for such periods of time and at such rents and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements to the Demised Premises as may be necessary. Landlord shall be entitled to bring such actions or proceedings for the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end of the term, and commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s right at any time to accelerate all rents and charges due from Tenant to the end of the term, or to terminate this Lease by giving notice to Tenant. (c) Declare all rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be accelerated; provided, however, such accelerated amounts shall be discounted to their then present value on the basis of a five percent (5%) per annum discount from the respective dates that such amount should have been paid hereunder. In the event that any charges due hereunder cannot be exactly determined as of the date of acceleration, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on historical increases in such charges. (d) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Florida.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Asbury Automotive Group Inc)
DEFAULT PROVISIONS AND REMEDIES. SECTION 13.01. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, any one or more 15.1 Each of the following events (herein called shall be deemed an “event Event of default”) shall occur, that is to sayDefault by GRANTEE under this Agreement:
(a) if Tenant shall fail 15.1.1 Failure of GRANTEE to pay the IRU fee or any installment of other sum required to be paid under the rent set forth in Section 2.01 terms of this Lease, or any part thereof, when the same shall become due and payableAgreement, and such failure shall continue default continues for five a period of fourteen (514) days after written notice thereof from Landlord; providedto GRANTEE;
15.1.2 Failure by GRANTEE to perform or observe any other terms, howevercovenant, Landlord shall only be obligated to provide two (2) such five (5) day notice periods within any twelve (12) month period during the term agreement or condition of this Lease, and, upon the third delinquency in the payment of any rent due hereunder during any said twelve (12) month period, Tenant shall immediately be in default under this Lease without any further notice from Landlord; or
(b) if Tenant shall fail to pay any sum or other charge required Agreement to be paid performed by Tenant hereunder (other than the payment of the rental as set forth in said Section 2.01)GRANTEE, and such failure shall continue default continues for a period of thirty (30) days after written notice thereof from Landlord to Tenant; or
GRANTOR (c) if Tenant shall make an assignment for the benefit of its creditors; or
(d) if any petition shall be filed against Tenant in any court, whether or not pursuant to any statute of the United States or of any state, in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and remains undismissed for sixty (60) days or Tenant requires or consents to any such petition or filing, or if any such petition shall be so filed by Tenant; or
(e) if, in any proceeding, a receiver or trustee be appointed for all or any portion of Tenant’s property; or
(f) if Tenant shall abandon the Demised Premises for a period in excess of thirty (30) days, it being presumed provided that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for such thirty (30) consecutive day period without excuse as specifically allowed under the terms and provisions of this Lease; or
(g) if Tenant shall assign, mortgage or encumber this Lease, or sublet the whole or any part of the Demised Premises, otherwise than as expressly permitted hereunder, or if this Lease or the estate of Tenant hereunder shall be transferred, or passed to, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; or
(h) if Tenant shall fail to perform or observe any other requirement of this Lease (not hereinbefore in this Section 13.01 specifically referred to) on the part of Tenant to be performed or observed, and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant unless a shorter period of time is allowed under this Lease; provided, however, that, if such default cannot be cured with the exercise of diligent efforts within such thirty (30) daysday period, this period will be extended if GRANTEE commences to cure such default within such thirty (30) day period shall be extended for such period of time, not exceeding an additional sixty (60) days, as shall be required for Tenant, in the exercise of diligent effortsand proceeds diligently thereafter, to cure the default unless satisfaction of GRANTOR, to effect such cure);
15.1.3 The filing of a shorter period tax or mechanic’s lien caused by GRANTEE against Fiber Optic Facilities or other property of time GRANTOR which is required under not bonded or discharged within thirty (30) days of the provisions date GRANTEE receives notice that such lien is filed;
15.1.4 An event of GRANTEE’s bankruptcy;
15.1.5 If GRANTEE knowingly uses IRU Fiber in violation of any mortgage encumbering the Demised Premiseslaw or in aid of any unlawful act or undertaking;
15.1.6 If GRANTEE occupies any portion of GRANTOR’s Fiber System without having first been authorized to do so; or
(i) 15.1.7 If any authorization which lawfully may be required of GRANTEE by any governmental or private authority for the use by GRANTEE of IRU Fiber is denied or revoked.
15.2 Upon the occurrence of an “Event of Default” shall occur under the terms and conditions of that certain Lease Agreement of even date herewith , GRANTOR, without further notice to GRANTEE in any instance (except where expressly provided for below or by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 Xxxxx Xxxxx, Xxxxx, Xxxxxxx, (the “Adamo Drive Lease”applicable law) if, and only if, at such time, the Landlord of the Adamo Drive Lease and the Landlord under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, then upon the happening of may do any one or more of the aforementioned events following:
15.2.1 Perform, on behalf and at the expense of defaultGRANTEE, and the expiration any obligation of the period of time prescribed in any such notice, Landlord may exercise any and all rights and remedies GRANTEE under this Lease Agreement which GRANTEE has failed to perform and Florida law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, which GRANTOR shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided.
SECTION 13.02. In the event of any such default or breach by Tenant, in addition to all remedies available at law or in equity, Landlord may at any time thereafter, with or without have given GRANTEE notice, and without limiting Landlord in the exercise of any right or remedy which Landlord may have by reason of such default or breach:
(a) Terminate Tenant’s right to possession of the Demised Premises by any lawful means, in which case the term of this Lease shall expire and Tenant shall immediately surrender possession of the Demised Premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the cost of recovering possession of the Demised Premises, expenses of reletting, reasonable attorneys’ fees, and any real estate commission actually paid or required to be paid.
(b) Reenter and take possession of the Demised Premises and relet the same for Tenant’s account, holding Tenant liable in damages for all expenses incurred which performance by Landlord in any such reletting and for any difference between the amount of rents received from such reletting and those due and payable under the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premises, Landlord shall have the right to lease or let the Demised Premises or portions thereof for such periods of time and at such rents and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements to the Demised Premises as may be necessary. Landlord GRANTOR shall be entitled payable by GRANTEE to bring such actions or proceedings for the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end of the term, and commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s right at any time to accelerate all rents and charges due from Tenant to the end of the term, or to terminate this Lease by giving notice to Tenant.
(c) Declare all rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be accelerated; provided, however, such accelerated amounts shall be discounted to their then present value on the basis of a five percent (5%) per annum discount from the respective dates that such amount should have been paid hereunder. In the event that any charges due hereunder cannot be exactly determined as of the date of acceleration, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on historical increases in such charges.
(d) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Florida.GRANTOR upon demand;
Appears in 1 contract
Samples: Dark Fiber Indefeasible Right of Use (Iru) Agreement
DEFAULT PROVISIONS AND REMEDIES. SECTION 13.01. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, any one or more 15.1 Each of the following events (herein called shall be deemed an “event Event of default”) shall occur, that is to sayDefault by LICENSEE under this Agreement:
(a) if Tenant shall fail 15.1.1 LICENSEE’s failure to pay the license fee or any installment of other sum required to be paid by LICENSEE under the rent set forth in Section 2.01 terms of this Lease, or any part thereof, when the same shall become due and payable, and such failure shall continue Agreement for five a period of fourteen (514) days after written notice thereof from Landlord; providedof such payment failure has been delivered by XXXX to LICENSEE;
15.1.2 Failure by LICENSEE to perform or observe any other terms, howevercovenant, Landlord shall only be obligated to provide two (2) such five (5) day notice periods within any twelve (12) month period during the term agreement or condition of this Lease, and, upon Agreement on the third delinquency in the payment part of any rent due hereunder during any said twelve (12) month period, Tenant shall immediately be in default under this Lease without any further notice from Landlord; or
(b) if Tenant shall fail to pay any sum or other charge required LICENSEE to be paid by Tenant hereunder (other than the payment of the rental as set forth in said Section 2.01), performed and such failure shall continue default continues for a period of thirty (30) days after written notice thereof from Landlord to Tenant; or
XXXX (c) if Tenant shall make an assignment for the benefit of its creditors; or
(d) if any petition shall be filed against Tenant in any court, whether or not pursuant to any statute of the United States or of any state, in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and remains undismissed for sixty (60) days or Tenant requires or consents to any such petition or filing, or if any such petition shall be so filed by Tenant; or
(e) if, in any proceeding, a receiver or trustee be appointed for all or any portion of Tenant’s property; or
(f) if Tenant shall abandon the Demised Premises for a period in excess of thirty (30) days, it being presumed provided that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for such thirty (30) consecutive day period without excuse as specifically allowed under the terms and provisions of this Lease; or
(g) if Tenant shall assign, mortgage or encumber this Lease, or sublet the whole or any part of the Demised Premises, otherwise than as expressly permitted hereunder, or if this Lease or the estate of Tenant hereunder shall be transferred, or passed to, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; or
(h) if Tenant shall fail to perform or observe any other requirement of this Lease (not hereinbefore in this Section 13.01 specifically referred to) on the part of Tenant to be performed or observed, and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant unless a shorter period of time is allowed under this Lease; provided, however, that, if such default cannot be cured with the exercise of diligent efforts within such thirty (30) daysday period, this period will be extended if LICENSEE commences to cure such default within such thirty (30) day period shall be extended for and proceeds diligently thereafter to effect such period cure);
15.1.3 The filing of time, a tax or mechanic's lien caused by LICENSEE against XXXX’x Fiber System or other property of XXXX which is not exceeding an additional sixty bonded or discharged within thirty (6030) days, as shall be required for Tenant, days of the date LICENSEE receives notice that such lien is filed;
15.1.4 An event of LICENSEE's bankruptcy;
15.1.5 If LICENSEE knowingly uses LICENSEE's Fiber Optic Facilities or the Telecommunications Services in the exercise of diligent efforts, to cure the default unless a shorter period of time is required under the provisions violation of any mortgage encumbering the Demised Premiseslaw or in aid of any unlawful act or undertaking;
15.1.6 If LICENSEE occupies any portion of XXXX’x Fiber System without having first been issued a license therefore; or
15.1.7 If any authorization which lawfully may be required of the LICENSEE by any governmental or private authority for the operation (i) If including splicing or other activities by LICENSEE), of LICENSEE's Fiber Optic Facilities within XXXX’x Fiber System or of the Telecommunications Services is denied or revoked.
15.2 Upon the occurrence of an “Event of Default” shall occur under the terms and conditions of that certain Lease Agreement of even date herewith , XXXX, without further notice to LICENSEE in any instance (except where expressly provided for below or by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 Xxxxx Xxxxx, Xxxxx, Xxxxxxx, (the “Adamo Drive Lease”applicable law) if, and only if, at such time, the Landlord of the Adamo Drive Lease and the Landlord under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, then upon the happening of may do any one or more of the aforementioned events following:
15.2.1 Perform, on behalf and at the expense of defaultLICENSEE, any obligation of LICENSEE under this Agreement which LICENSEE has failed to perform and the expiration of the period of time prescribed in any such which XXXX shall have given LICENSEE notice, Landlord the cost of which performance by XXXX shall be payable by LICENSEE to XXXX upon demand;
15.2.2 Elect to terminate Agreement by giving notice of such election to Licensee;
15.2.3 Immediately disconnect and remove LICENSEE’s Fiber Optic Facilities from XXXX’x Fiber System..
15.2.4 Exercise any other legal or equitable right to remedy which it may exercise have. Any costs and expenses incurred by XXXX (including, without limitation, reasonable attorneys' fees) in enforcing any and all of its rights or remedies under this Agreement shall be repaid to XXXX by LICENSEE upon demand.
15.3 All rights and remedies of XXXX set forth in this Agreement shall be cumulative, and none shall exclude any other right or remedy, now or hereafter allowed by or available under this Lease and Florida any statute, ordinance, rule of court, or the common law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided.
SECTION 13.02. In the event of any such default or breach by Tenant, in addition to all remedies available either at law or in equity, Landlord may at any time thereafter, with or without notice, and without limiting Landlord in the exercise of any right both.
15.4 The following events or remedy which Landlord may have occurrences shall constitute a default by reason of such default or breachXXXX under this Agreement:
(a) Terminate Tenant’s right to possession of the Demised Premises 15.4.1 Any material noncompliance by any lawful means, in which case the term of this Lease shall expire and Tenant shall immediately surrender possession of the Demised Premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the cost of recovering possession of the Demised Premises, expenses of reletting, reasonable attorneys’ fees, and any real estate commission actually paid or required to be paid.
(b) Reenter and take possession of the Demised Premises and relet the same for Tenant’s account, holding Tenant liable in damages for all expenses incurred by Landlord in any such reletting and for any difference between the amount of rents received from such reletting and those due and payable under XXXX with the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premises, Landlord shall have the right to lease or let the Demised Premises or portions thereof for such periods of time and at such rents and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements to the Demised Premises as may be necessary. Landlord shall be entitled to bring such actions or proceedings for the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end of the term, and commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s right at any time to accelerate all rents and charges due from Tenant to the end of the term, or to terminate this Lease by giving notice to Tenant.
(c) Declare all rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be accelerated; provided, however, such accelerated amounts shall be discounted to their then present value on the basis of a five percent (5%) per annum discount from the respective dates that such amount should have been paid hereunder. In the event that any charges due hereunder cannot be exactly determined as of the date of acceleration, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on historical increases in such charges.
(d) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Florida.agreement;
Appears in 1 contract
Samples: Master Telecommunications Service and Dark Fiber License Agreement Renewal
DEFAULT PROVISIONS AND REMEDIES. SECTION 13.01. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, a. Lessee shall be in default if any one or more of the following events (herein sometimes called "events of default") shall happen:
1. If default shall be made in the due and punctual payment of any Rent payable under this Lease or any part thereof, and such default continues for a period of ten (10) days after written notice, provided, however, that Lessee shall be entitled to only one (1) grace period per twelve-month period; or
2. If Lessee makes an “assignment for the benefit of creditors, or petitions for or enters into an arrangement, or if Lessee shall abandon said Leased Premises, or suffer this Lease to be taken under any writ of execution; or
3. If default shall be made by Lessee in the performance or compliance with any of the agreements, terms, covenants, or conditions provided for in this Lease (except terms related to the punctual payment of rent) for a period of ten (10) days after notice from Lessor to Lessee specifying the items in default, or in the case of a default or a contingency which cannot with due diligence be cured within ten (10) days, Lessee fails to proceed within the ten (10) day period to cure the same and thereafter to prosecute the curing of such default with due diligence (it being intended in connection with a default not susceptible of being cured with due diligence within ten (10) days that the time within which to cure the same shall be extended for such period as may be necessary to complete the same with all due diligence); or
4. If Lessee shall file a voluntary petition in bankruptcy or shall be adjudicated as bankrupt or insolvent, or shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under the present or any future federal bankruptcy act or any other present or future federal, state or other bankruptcy or insolvency statute or law, or shall seek or consent to or acquiesce in the appointment of any bankruptcy or insolvency trustee, receiver or liquidator of Lessee or of all or any substantial part of its properties or of the Leased Premises; or
5. If within sixty (60) days after the commencement of any proceeding against Lessee seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future federal, state or other bankruptcy or insolvency statute or law, such proceeding shall not have been dismissed; then and in any such event the term hereby demised and all rights of Lessee under this Lease, including any renewal privileges whether or not exercises, shall expire and terminate, and Lessee shall remain liable as hereinafter provided.
b. Upon any such expiration or termination of this Lease, Lessee shall quit and peacefully surrender the Leased Premises to Lessor, and Lessor, upon or at any time after any such expiration or termination, may without further notice, enter upon and re-enter the Leased Premises and possess and repossess itself thereof, by force, summary proceedings, ejectment or otherwise, and may dispossess Lessee and remove Lessee and all other persons and property from the Leased Premises and may have, hold and enjoy the Leased Premises and the right to receive all rental income of and from the same.
c. At any time or from time to time after any such expiration or termination, Lessor may relet the Leased Premises or any part thereof for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions (which may include concessions or free rent and alterations of the Leased Premises) as Lessor, in its uncontrolled discretion, may determine and may collect and receive the rents therefor. Lessor shall in no way be responsible or liable for any failure to relet the Leased Premises or any part thereof, or for any failure to collect any rent due upon any such reletting.
d. No such expiration or termination of this Lease shall relieve Lessee of its liability and obligations under this Lease, and such liability and obligations shall survive any such expiration or termination. In the event of any such expiration or termination, whether or not the Leased Premises or any part thereof shall have been relet, Lessee shall pay to Lessor the rent and all other charges required to be paid by Lessee up to the time of such expiration or termination of this Lease, and thereafter Lessee, until the end of what would have been the term of this Lease in the absence of such expiration or termination, shall be liable to Lessor for, and shall pay to Lessor, as and for liquidated and agreed current damages for Lessee's default”) shall occur, that is to say:
(a) if Tenant shall fail to pay any installment the equivalent of the amount of the rent set forth and charges which would be payable under this Lease by Lessee if this Lease were still in Section 2.01 effect, less the net proceeds of any reletting effected pursuant to the provisions of subsection c. hereof, after deducting all Lessor's reasonable expenses in connection with such reletting, including, without limitation, all repossession costs, brokerage and management commissions, operating expenses, legal expenses, reasonable attorney fees, alteration costs and expenses of preparation for such reletting. Lessee shall pay such current damages (herein called "deficiency") to Lessor monthly on the days on which the Rent would have been payable under this Lease if this Lease were still in effect, and Lessor shall be entitled to recover from Lessee each monthly deficiency as the same shall arise. At any time after such expiration or termination, in lieu of collecting any further monthly deficiencies as aforesaid, Lessor shall be entitled to recover from Lessee, and Lessee shall pay to Lessor, on demand, as and for liquidated and agreed final damages for Lessee's default, an amount equal to the then fair value of the excess of the Rent reserved hereunder for the unexpired portion of the term demised over the then fair and reasonable rental value of the Leased Premises for the same period, minus any such monthly deficiencies previously recovered from Lessee. If the Leased Premises or any part thereof be relet by Lessor for the unexpired term of this Lease, or any part thereof, when before presentation of proof of such liquidated damages to any court, commission or tribunal, the same amount of rent reserved upon such reletting shall become due be considered as evidence of the fair and payable, and such failure shall continue reasonable rental value for five (5) days after written notice thereof from Landlord; provided, however, Landlord shall only be obligated to provide two (2) such five (5) day notice periods within any twelve (12) month period the part or the whole of the Leased Premises so relet during the term of this Leasethe reletting if Lessor demonstrates due diligence in reletting the leased premises. Nothing herein contained shall limit or prejudice the right of Lessor to apply for and obtain as liquidated damages by reason of such termination, andan amount equal to the maximum allowed by any statute or rule of law in effect at the time when, upon and governing the third delinquency proceedings in the payment of any rent due hereunder during any said twelve (12) month periodwhich, Tenant shall immediately be in default under this Lease without any further notice from Landlord; or
(b) if Tenant shall fail to pay any sum or other charge required such damages are to be paid by Tenant hereunder (other than the payment of the rental as set forth in said Section 2.01), and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant; or
(c) if Tenant shall make an assignment for the benefit of its creditors; or
(d) if any petition shall be filed against Tenant in any courtproved, whether or not pursuant to any statute such amount be greater, equal to, or less than the amount of the United States or difference referred to above.
e. Lessee hereby expressly waives, so far as permitted by law, the service of any state, notice of intention to re-enter provided for in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedingsstatute, and remains undismissed except as is herein otherwise provided, Lessee, for sixty and on behalf of itself and all persons claiming through or under Lessee (60) days including leasehold mortgagee or Tenant requires other creditor), also waives, any and all right of redemption or consents to any such petition re-entry or filing, or if any such petition repossession in case lessee shall be so filed dispossessed by Tenant; or
(e) if, a judgment or by warrant of any court or judge or in case of re-entry or repossession by Lessor or in case of any proceeding, a receiver expiration or trustee be appointed for all or any portion of Tenant’s property; or
(f) if Tenant shall abandon the Demised Premises for a period in excess of thirty (30) days, it being presumed that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for such thirty (30) consecutive day period without excuse as specifically allowed under the terms and provisions termination of this Lease; or
(g) if Tenant shall assign, mortgage . The terms "enter," "re-enter," "entry," or encumber "re-entry," as used in this Lease, or sublet the whole or any part of the Demised Premises, otherwise than as expressly permitted hereunder, or if this Lease or the estate of Tenant hereunder shall be transferred, or passed to, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; or
(h) if Tenant shall fail to perform or observe any other requirement of this Lease (are not hereinbefore in this Section 13.01 specifically referred to) on the part of Tenant to be performed or observed, and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant unless a shorter period of time is allowed under this Lease; provided, however, that, if such default cannot be cured with the exercise of diligent efforts within such thirty (30) days, such thirty (30) day period shall be extended for such period of time, not exceeding an additional sixty (60) days, as shall be required for Tenant, in the exercise of diligent efforts, to cure the default unless a shorter period of time is required under the provisions of any mortgage encumbering the Demised Premises; or
(i) If an “Event of Default” shall occur under the terms and conditions of that certain Lease Agreement of even date herewith by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 Xxxxx Xxxxx, Xxxxx, Xxxxxxx, (the “Adamo Drive Lease”) if, and only if, at such time, the Landlord of the Adamo Drive Lease and the Landlord under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, then upon the happening of any one or more of the aforementioned events of default, and the expiration of the period of time prescribed in any such notice, Landlord may exercise any and all rights and remedies under this Lease and Florida law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided.
SECTION 13.02. In the event of any such default or breach by Tenant, in addition to all remedies available at law or in equity, Landlord may at any time thereafter, with or without notice, and without limiting Landlord in the exercise of any right or remedy which Landlord may have by reason of such default or breach:
(a) Terminate Tenant’s right to possession of the Demised Premises by any lawful means, in which case the term of this Lease shall expire and Tenant shall immediately surrender possession of the Demised Premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the cost of recovering possession of the Demised Premises, expenses of reletting, reasonable attorneys’ fees, and any real estate commission actually paid or required to be paid.
(b) Reenter and take possession of the Demised Premises and relet the same for Tenant’s account, holding Tenant liable in damages for all expenses incurred by Landlord in any such reletting and for any difference between the amount of rents received from such reletting and those due and payable under the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premises, Landlord shall have the right to lease or let the Demised Premises or portions thereof for such periods of time and at such rents and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements to the Demised Premises as may be necessary. Landlord shall be entitled to bring such actions or proceedings for the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end of the term, and commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s right at any time to accelerate all rents and charges due from Tenant to the end of the term, or to terminate this Lease by giving notice to Tenant.
(c) Declare all rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be accelerated; provided, however, such accelerated amounts shall be discounted restricted to their then present value on the basis of a five percent (5%) per annum discount from the respective dates that such amount should have been paid hereunder. In the event that any charges due hereunder cannot be exactly determined as of the date of acceleration, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on historical increases in such chargestechnical legal meanings.
(d) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Florida.
Appears in 1 contract
Samples: Commercial Lease Agreement (First Shares Bancorp Inc)
DEFAULT PROVISIONS AND REMEDIES. SECTION 13.0117.1. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, any one or more Each of the following events (herein called shall be deemed an “event Event of default”) shall occur, that is to sayDefault by SPC under this Agreement:
(a) if Tenant shall fail 17.1.1. Failure of SPC to pay the any installment of sum required to be paid under the rent set forth in Section 2.01 terms of this LeaseAgreement or the URRS Agreement, Note, Security Agreement or any part thereof, when the same shall become due and payable, related agreement and such failure shall continue default continues for five a period of thirty (530) days after written notice thereof from Landlord; providedto SPC;
17.1.2. Failure by SPC to perform or observe any other terms, howevercovenant, Landlord shall only be obligated to provide two (2) such five (5) day notice periods within any twelve (12) month period during the term agreement or condition of this Lease, and, upon Agreement on the third delinquency in the payment part of any rent due hereunder during any said twelve (12) month period, Tenant shall immediately be in default under this Lease without any further notice from Landlord; or
(b) if Tenant shall fail to pay any sum or other charge required SPC to be paid by Tenant hereunder (other than the payment of the rental as set forth in said Section 2.01), performed and such failure shall continue default continues for a period of thirty (30) days after written notice thereof from Landlord to Tenant; or
Owner (c) provided that if Tenant shall make an assignment for the benefit of its creditors; or
(d) if any petition shall such default cannot be filed against Tenant in any court, whether or not pursuant to any statute of the United States or of any state, in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and remains undismissed for sixty (60) days or Tenant requires or consents to any such petition or filing, or if any such petition shall be so filed by Tenant; or
(e) if, in any proceeding, a receiver or trustee be appointed for all or any portion of Tenant’s property; or
(f) if Tenant shall abandon the Demised Premises for a period in excess of thirty (30) days, it being presumed that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for cured within such thirty (30) consecutive day period, this period will be extended if SPC commences to cure such default within such thirty (30) day period without excuse as specifically allowed under the terms and provisions proceeds diligently thereafter to effect such cure); URRS Agreement Page 45 Dated: September 9, 0000 Xxxxxxxx X
17.1.3. The filing of this Lease; or
a tax or mechanic's lien against Owner's Route or Fiber Optic Facilities or other property of Owner which is not bonded or discharged within thirty (g30) if Tenant shall assign, mortgage or encumber this Lease, or sublet the whole or any part days of the Demised Premisesdate SPC receives notice that such lien is filed.
17.2. Upon the occurrence of an Event of Default, otherwise than as Owner, without further notice to SPC in any instance (except where expressly permitted provided for below or by applicable law) may do any one or more of the following:
17.2.1. Perform, on behalf and at the expense of SPC, any obligation of SPC under this Agreement which SPC has failed to perform and of which Owner shall have given SPC notice, the cost of which performance by Owner shall be payable by SPC to Owner upon demand;
17.2.2. Exercise any other legal or equitable right or remedy which it may have, including suspension or termination of maintenance services Owner provides to SPC hereunder, including any rights and remedies available to Owner pursuant to the URRS Agreement.
17.3. The following events or if occurrences shall constitute a default by Owner under this Lease or the estate of Tenant hereunder shall be transferred, or passed to, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; orAgreement:
(h) if Tenant shall fail 17.3.1. Failure by Owner to perform or observe any other requirement terms, covenant, agreement or condition of this Lease (not hereinbefore in this Section 13.01 specifically referred to) Agreement on the part of Tenant Owner to be performed or observed, and such failure shall continue default continues for a period of thirty (30) days after written notice thereof from Landlord to Tenant unless a shorter period of time is allowed under this Lease; provided, however, that, SPC (provided that if such default cannot be cured with the exercise of diligent efforts within such thirty (30) daysday period, this period will be extended if Owner commences to cure such default within such thirty (30) day period shall be extended for and proceeds diligently thereafter to effect such period cure.
17.4. Upon the occurrence of time, not exceeding an additional sixty (60) days, as shall be required for Tenant, in the exercise of diligent efforts, to cure the default unless a shorter period of time is required under the provisions of any mortgage encumbering the Demised Premises; or
(i) If an “Event of Default” shall occur under the terms and conditions of that certain Lease Agreement of even date herewith , SPC, without further notice to Owner in any instance (except where expressly provided for below or by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 Xxxxx Xxxxx, Xxxxx, Xxxxxxx, (the “Adamo Drive Lease”applicable law) if, and only if, at such time, the Landlord of the Adamo Drive Lease and the Landlord under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, then upon the happening of may do any one or more of the aforementioned events following:
17.4.1. Perform, on behalf and at the expense of defaultOwner, any obligation of Owner under this Agreement which Owner has failed to perform and the expiration of the period of time prescribed in any such which SPC shall have given Owner notice, Landlord the cost of which performance by SPC shall be payable by Owner to SPC upon demand;
17.4.2. Exercise any other legal or equitable right or remedy which it may exercise any and all have.
17.5. All rights and remedies of either party set forth in this Agreement shall be cumulative, and none shall exclude any other right or remedy, now or hereafter allowed by or available under this Lease and Florida any statute, ordinance, rule of court, or the common law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided.
SECTION 13.02. In the event of any such default or breach by Tenant, in addition to all remedies available either at law or in equity, Landlord may at any time thereafter, with or without notice, and without limiting Landlord in the exercise of any right or remedy which Landlord may have by reason of such default or breach:
(a) Terminate Tenant’s right to possession of the Demised Premises by any lawful means, in which case the term of this Lease shall expire and Tenant shall immediately surrender possession of the Demised Premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the cost of recovering possession of the Demised Premises, expenses of reletting, reasonable attorneys’ fees, and any real estate commission actually paid or required to be paidboth.
(b) Reenter and take possession of the Demised Premises and relet the same for Tenant’s account, holding Tenant liable in damages for all expenses incurred by Landlord in any such reletting and for any difference between the amount of rents received from such reletting and those due and payable under the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premises, Landlord shall have the right to lease or let the Demised Premises or portions thereof for such periods of time and at such rents and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements to the Demised Premises as may be necessary. Landlord shall be entitled to bring such actions or proceedings for the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end of the term, and commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s right at any time to accelerate all rents and charges due from Tenant to the end of the term, or to terminate this Lease by giving notice to Tenant.
(c) Declare all rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be accelerated; provided, however, such accelerated amounts shall be discounted to their then present value on the basis of a five percent (5%) per annum discount from the respective dates that such amount should have been paid hereunder. In the event that any charges due hereunder cannot be exactly determined as of the date of acceleration, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on historical increases in such charges.
(d) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Florida.
Appears in 1 contract
Samples: Unit Redemption, Release, and Sale Agreement (Nevada Power Co)
DEFAULT PROVISIONS AND REMEDIES. SECTION 13.01. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, any one or more 15.1 Each of the following events (herein called shall be deemed an “event Event of default”) shall occur, that is to sayDefault by Licensee under this Agreement:
(a) if Tenant shall fail 15.1.1 Failure of Licensee to pay the license fee or any installment of other sum required to be paid under the rent set forth in Section 2.01 terms of this Lease, or any part thereof, when the same shall become due and payable, Agreement and such failure shall continue default continues for five a period of fourteen (514) days after written notice thereof from Landlord; providedto Licensee;
15.1.2 Failure by Licensee to perform or observe any other terms, howevercovenant, Landlord shall only be obligated to provide two (2) such five (5) day notice periods within any twelve (12) month period during the term agreement or condition of this Lease, and, upon Agreement on the third delinquency in the payment part of any rent due hereunder during any said twelve (12) month period, Tenant shall immediately be in default under this Lease without any further notice from Landlord; or
(b) if Tenant shall fail to pay any sum or other charge required Licensee to be paid by Tenant hereunder (other than the payment of the rental as set forth in said Section 2.01), performed and such failure shall continue default continues for a period of thirty (30) days after written notice thereof from Landlord to Tenant; or
SUNESYS (c) if Tenant shall make an assignment for the benefit of its creditors; or
(d) if any petition shall be filed against Tenant in any court, whether or not pursuant to any statute of the United States or of any state, in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and remains undismissed for sixty (60) days or Tenant requires or consents to any such petition or filing, or if any such petition shall be so filed by Tenant; or
(e) if, in any proceeding, a receiver or trustee be appointed for all or any portion of Tenant’s property; or
(f) if Tenant shall abandon the Demised Premises for a period in excess of thirty (30) days, it being presumed provided that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for such thirty (30) consecutive day period without excuse as specifically allowed under the terms and provisions of this Lease; or
(g) if Tenant shall assign, mortgage or encumber this Lease, or sublet the whole or any part of the Demised Premises, otherwise than as expressly permitted hereunder, or if this Lease or the estate of Tenant hereunder shall be transferred, or passed to, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; or
(h) if Tenant shall fail to perform or observe any other requirement of this Lease (not hereinbefore in this Section 13.01 specifically referred to) on the part of Tenant to be performed or observed, and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant unless a shorter period of time is allowed under this Lease; provided, however, that, if such default cannot be cured with the exercise of diligent efforts within such thirty (30) daysday period, this period will be extended if Licensee commences to cure such default within such thirty (30) day period shall be extended and proceeds diligently thereafter to effect such cure);
15.1.3 The filing of a tax or mechanic's lien against SUNESYS’ Conduit System, Fiber Optic Facilities or other property of SUNESYS which is not bonded or discharged within thirty (30) days of the date Licensee receives notice that such lien is filed;
15.1.4 An event of Licensee's bankruptcy (whether voluntary or involuntary) or the finding that Licensee is insolvent or unable to pay its debts as they come due or the appointment of a receiver for Licensee’s properties, if such period of timebankruptcy, finding or appointment is not exceeding an additional dismissed or resolved within sixty (60) days, as shall be required for Tenant, in the exercise of diligent efforts, to cure the default unless a shorter period of time is required under the provisions days of any mortgage encumbering the Demised Premisesofficial filing of bankruptcy, insolvency or appointment in a court of competent jurisdiction;
15.1.5 If Licensee knowingly uses Licensee's Fiber Optic Facilities in violation of any law or in aid of any unlawful act or undertaking;
15.1.6 If Licensee occupies any portion of SUNESYS’ Conduit System without having first been issued a license therefore; or
(i) If 15.2 Upon the occurrence of an “Event of Default” shall occur under the terms and conditions of that certain Lease Agreement of even date herewith , SUNESYS, without further notice to Licensee in any instance (except where expressly provided for below or by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 Xxxxx Xxxxx, Xxxxx, Xxxxxxx, (the “Adamo Drive Lease”applicable law) if, and only if, at such time, the Landlord of the Adamo Drive Lease and the Landlord under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, then upon the happening of may do any one or more of the aforementioned events following:
15.2.1 Perform, on behalf and at the expense of defaultLicensee, any obligation of Licensee under this Agreement which Licensee has failed to perform and of which SUNESYS shall have given Licensee notice, the expiration cost of which performance by SUNESYS shall be payable by Licensee to SUNESYS upon demand;
15.2.2 Elect to terminate Agreement by giving notice of such election to Licensee, in which event all of the period remaining recurring license fees payable for the Term of time prescribed in this Agreement shall become immediately due and payable by Licensee;
15.2.3 Exercise any such notice, Landlord other legal or equitable right to remedy that it may exercise any and all have.
15.3 All rights and remedies of SUNESYS set forth in this Agreement shall be cumulative, and none shall exclude any other right or remedy, now or hereafter allowed by or available under this Lease and Florida any statute, ordinance, rule of court, or the common law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided.
SECTION 13.02. In the event of any such default or breach by Tenant, in addition to all remedies available either at law or in equity, Landlord or both.
15.4 The following events or occurrences shall constitute a default by SUNESYS under this Agreement:
15.4.1 Any material noncompliance by SUNESYS with the terms of this agreement;
15.4.2 Any material breach by SUNESYS of a representation or warranty under this Agreement. Licensee shall give prompt written notice to SUNESYS of the occurrence of any default under this Agreement. If such default continues for seven (7) days after receipt of such notice (provided that if such default cannot be cured within such seven (7) day period, this period will be extended if SUNESYS continues to cure such default within such seven (7) day period and proceeds diligently thereafter to effect such cure), Licensee may at its option, terminate this Agreement and pursue any time thereafter, with or without notice, and without limiting Landlord in the exercise of any right or remedy which Landlord legal remedies it may have by reason of such default at law or breach:equity.
(a) Terminate Tenant’s right to possession of the Demised Premises by any lawful means, in which case the term of this Lease shall expire 15.5 Any reasonable costs and Tenant shall immediately surrender possession of the Demised Premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages expenses incurred by Landlord by reason of Tenant’s default a party (including, but not limited to, the cost of recovering possession of the Demised Premises, expenses of relettingwithout limitation, reasonable attorneys’ fees, and ) in enforcing any real estate commission actually paid of its rights or required to remedies under this Agreement shall be paid.
(b) Reenter and take possession of the Demised Premises and relet the same for Tenant’s account, holding Tenant liable in damages for all expenses incurred by Landlord in any such reletting and for any difference between the amount of rents received from such reletting and those due and payable under the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premises, Landlord shall have the right to lease or let the Demised Premises or portions thereof for such periods of time and at such rents and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements repaid to the Demised Premises as may be necessary. Landlord shall be entitled to bring such actions or proceedings for party by the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end of the term, and commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s right at any time to accelerate all rents and charges due from Tenant to the end of the term, or to terminate this Lease by giving notice to Tenantbreaching Party upon demand.
(c) Declare all rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be accelerated; provided, however, such accelerated amounts shall be discounted to their then present value on the basis of a five percent (5%) per annum discount from the respective dates that such amount should have been paid hereunder. In the event that any charges due hereunder cannot be exactly determined as of the date of acceleration, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on historical increases in such charges.
(d) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Florida.
Appears in 1 contract
Samples: Agreement With Sunesys LLC for Fiber Optic Services
DEFAULT PROVISIONS AND REMEDIES. SECTION 13.01. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, any one or more of the following events (herein called an “event of default”) shall occur, that is to say:
(a) if Tenant shall fail to pay any installment of the rent set forth in Section 2.01 of this Lease, or any part thereof, when the same shall become due and payable, and such failure shall continue for five (5) days after written notice thereof from Landlord; provided, however, Landlord shall only be obligated to provide two (2) such five (5) day notice periods within any twelve (12) month period during the term of this Lease, and, upon the third delinquency in the payment of any rent due hereunder during any said twelve (12) month period, Tenant shall immediately be in default under this Lease without any further notice from Landlord; or
(b) if Tenant shall fail to pay any sum or other charge required to be paid by Tenant hereunder (other than the payment of the rental as set forth in said Section 2.01), and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant; or
(c) if Tenant shall make an assignment for the benefit of its creditors; or
(d) if any petition shall be filed against Tenant in any court, whether or not pursuant to any statute of the United States or of any state, in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and remains undismissed for sixty (60) days or Tenant requires or consents to any such petition or filing, or if any such petition shall be so filed by Tenant; or
(e) if, in any proceeding, a receiver or trustee be appointed for all or any portion of Tenant’s property; or
(f) if Tenant shall abandon the Demised Premises for a period in excess of thirty (30) days, it being presumed that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for such thirty (30) consecutive day period without excuse as specifically allowed under the terms and provisions of this Lease; or
(g) if Tenant shall assign, mortgage or encumber this Lease, or sublet the whole or any part of the Demised Premises, otherwise than as expressly permitted hereunder, or if this Lease or the estate of Tenant hereunder shall be transferred, or passed to, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; or
(h) if Tenant shall fail to perform or observe any other requirement of this Lease (not hereinbefore in this Section 13.01 specifically referred to) on the part of Tenant to be performed or observed, and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant unless a shorter period of time is allowed under this Lease; provided, however, that, if such default cannot be cured with the exercise of diligent efforts within such thirty (30thirty(30) days, such thirty (30) day period shall be extended for such period of time, not exceeding an additional sixty (60) days, as shall be required for Tenant, in the exercise of diligent efforts, to cure the default unless a shorter period of time is required under the provisions of any mortgage encumbering the Demised Premises; or
(i) If an “Event of Default” shall occur under the terms and conditions of that certain Lease Agreement of even date herewith by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 the southwest xxxxx of Hillsborough and Xxxx Xxxxx XxxxxXxxxxxx, XxxxxTampa, XxxxxxxFlorida, (the “Adamo Drive Hillsborough Avenue Lease”) if, and only if, at such time, the Landlord of the Adamo Drive Hillsborough Avenue Lease and the Landlord under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, . then upon the happening of any one or more of the aforementioned events of default, and the expiration of the period of time prescribed in any such notice, Landlord may exercise any and all rights and remedies under this Lease and Florida law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided.
SECTION 13.02. In the event of any such default or breach by Tenant, in addition to all remedies available at law or in equity, Landlord may at any time thereafter, with or without notice, and without limiting Landlord in the exercise of any right or remedy which Landlord may have by reason of such default or breach:
(a) Terminate Tenant’s right to possession of the Demised Premises by any lawful means, in which case the term of this Lease shall expire and Tenant shall immediately surrender possession of the Demised Premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the cost of recovering possession of the Demised Premises, expenses of reletting, reasonable attorneys’ fees, and any real estate commission actually paid or required to be paid.
(b) Reenter and take possession of the Demised Premises and relet the same for Tenant’s account, holding Tenant liable in damages for all expenses incurred by Landlord in any such reletting and for any difference between the amount of rents received from such reletting and those due and payable under the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premises, Landlord shall have the right to lease or let the Demised Premises or portions thereof for such periods of time and at such rents and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements to the Demised Premises as may be necessary. Landlord shall be entitled to bring such actions or proceedings for the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end of the term, and commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s right at any time to accelerate all rents and charges due from Tenant to the end of the term, or to terminate this Lease by giving notice to Tenant.
(c) Declare all rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be accelerated; provided, however, such accelerated amounts shall be discounted to their then present value on the basis of a five percent (5%) per annum discount from the respective dates that such amount should have been paid hereunder. In the event that any charges due hereunder cannot be exactly determined as of the date of acceleration, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on historical increases in such charges.
(d) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Florida.
Appears in 1 contract
DEFAULT PROVISIONS AND REMEDIES. SECTION 13.01. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, any one or more 16.1 Each of the following events (herein called an “event of default”) shall occur, that is to saybe deemed a material breach by Licensee under this Agreement:
(a) if Tenant shall fail Failure by Licensee to pay perform or observe any installment of the rent set forth in Section 2.01 term, covenant, agreement or condition of this Lease, or any Agreement on the part thereof, when the same shall become due and payable, of Licensee to be performed and such failure shall continue default continues for five (5) days after written notice thereof from Landlord; provided, however, Landlord shall only be obligated to provide two (2) such five (5) day notice periods within any twelve (12) month a period during the term of this Lease, and, upon the third delinquency in the payment of any rent due hereunder during any said twelve (12) month period, Tenant shall immediately be in default under this Lease without any further notice from Landlord; or
(b) if Tenant shall fail to pay any sum or other charge required to be paid by Tenant hereunder (other than the payment of the rental as set forth in said Section 2.01), and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant; or
SUNESYS (c) if Tenant shall make an assignment for the benefit of its creditors; or
(d) if any petition shall be filed against Tenant in any court, whether or not pursuant to any statute of the United States or of any state, in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and remains undismissed for sixty (60) days or Tenant requires or consents to any such petition or filing, or if any such petition shall be so filed by Tenant; or
(e) if, in any proceeding, a receiver or trustee be appointed for all or any portion of Tenant’s property; or
(f) if Tenant shall abandon the Demised Premises for a period in excess of thirty (30) days, it being presumed provided that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for such thirty (30) consecutive day period without excuse as specifically allowed under the terms and provisions of this Lease; or
(g) if Tenant shall assign, mortgage or encumber this Lease, or sublet the whole or any part of the Demised Premises, otherwise than as expressly permitted hereunder, or if this Lease or the estate of Tenant hereunder shall be transferred, or passed to, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; or
(h) if Tenant shall fail to perform or observe any other requirement of this Lease (not hereinbefore in this Section 13.01 specifically referred to) on the part of Tenant to be performed or observed, and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant unless a shorter period of time is allowed under this Lease; provided, however, that, if such default cannot be cured with the exercise of diligent efforts within such thirty (30) daysday period, this period will be extended if Licensee commences to cure such default within such thirty (30) day period shall be extended and proceeds diligently thereafter to effect such cure);
(b) The filing of a tax or mechanic’s lien against the Licensed Fiber Optic Strands which is not bonded or discharged within thirty (30) days of the date Licensee receives notice that such lien is filed;
(c) An event of Licensee’s bankruptcy (whether voluntary or involuntary) or the finding that Licensee is insolvent or unable to pay its debts as they come due or the appointment of a receiver for Licensee’s properties, if such period of timebankruptcy, finding or appointment is not exceeding an additional dismissed or resolved within sixty (60) days, as shall be required for Tenant, in the exercise of diligent efforts, to cure the default unless a shorter period of time is required under the provisions days of any mortgage encumbering the Demised Premises; orofficial filing of bankruptcy, insolvency or appointment in a court of competent jurisdiction;
(id) If an “Event Licensee knowingly uses the Licensed Fiber Optic Strands in violation of Default” any law or in aid of any unlawful act or undertaking;.
16.2 The following events or occurrences shall occur constitute a material breach by SUNESYS under this Agreement:
(a) Any material noncompliance by SUNESYS with the terms and conditions of that certain Lease Agreement this Agreement; Agreement.
(b) Any material breach by SUNESYS of even date herewith by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 Xxxxx Xxxxx, Xxxxx, Xxxxxxx, (the “Adamo Drive Lease”) if, and only if, at such time, the Landlord of the Adamo Drive Lease and the Landlord a representation or warranty under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, then upon the happening of any one or more of the aforementioned events of default, and the expiration of the period of time prescribed in any such notice, Landlord may exercise any and all rights and remedies under this Lease and Florida law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided.
SECTION 13.02. (c) In the event of a material breach of this Agreement, the aggrieved Party must give written notice to the breaching Party which shall specify the nature of such breach, and shall further state that the breaching Party shall have ten (10) days from the effective date of such notice to cure such breach, or if such cure cannot be completed within such period, such additional time as is reasonably determined by the aggrieved Party to be necessary for the breaching Party to complete such cure, at which time, if the breach is not cured, this Agreement shall be terminated immediately. The aggrieved party may also exercise any such default other legal or breach equitable right to remedy that it may have. All rights and remedies of the aggrieved party shall be cumulative and none shall exclude any other right or remedy, now or hereafter allowed by Tenantor available under any statute, in addition to all remedies available ordinance, rule of court, or the common law, either at law or in equity, Landlord may at or both.
16.3 The prevailing Party in any time thereafter, with lawsuit or without notice, and without limiting Landlord in the exercise of any right or remedy which Landlord may have by reason of such default or breach:
(a) Terminate Tenant’s right to possession of the Demised Premises by any lawful meansaction based upon this Agreement shall, in which case the term of this Lease shall expire and Tenant shall immediately surrender possession of the Demised Premises addition to Landlord. In such eventany other relief granted therein, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the cost of recovering possession of the Demised Premises, expenses of reletting, its reasonable attorneys’ fees, fees and any real estate commission actually paid or required to be paidcosts.
(b) Reenter and take possession of the Demised Premises and relet the same for Tenant’s account, holding Tenant liable in damages for all expenses incurred by Landlord in any such reletting and for any difference between the amount of rents received from such reletting and those due and payable under the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premises, Landlord shall have the right to lease or let the Demised Premises or portions thereof for such periods of time and at such rents and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements to the Demised Premises as may be necessary. Landlord shall be entitled to bring such actions or proceedings for the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end of the term, and commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s right at any time to accelerate all rents and charges due from Tenant to the end of the term, or to terminate this Lease by giving notice to Tenant.
(c) Declare all rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be accelerated; provided, however, such accelerated amounts shall be discounted to their then present value on the basis of a five percent (5%) per annum discount from the respective dates that such amount should have been paid hereunder. In the event that any charges due hereunder cannot be exactly determined as of the date of acceleration, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on historical increases in such charges.
(d) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Florida.
Appears in 1 contract
Samples: Agreement With Sunesys, LLC for Fiber Optic Connections
DEFAULT PROVISIONS AND REMEDIES. SECTION 13.01. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, a. If any one or more of the following events (herein called an “event hereinafter referred to as "Events of default”Default" ) shall occur, that is to say:
(ai) if Tenant If this Sublease or the estate of Subtenant hereunder shall fail be transferred or assigned by Subtenant to pay any person, firm corporation or other entity, whether by operation of law or otherwise, except in a manner as may be herein expressly permitted; or
(ii) If default shall be made by Subtenant in the due and punctual payment of any installment of the rent set forth in Section 2.01 of this Lease, Base Rent or any part thereof, when the same shall become due and payable, and such failure shall continue for Additional Rent payable under this Sublease within five (5) days after written receipt of notice thereof from Landlord; provided, however, Landlord shall only be obligated to provide two (2) that such five (5) day notice periods within any twelve (12) month period during the term of this Lease, and, upon the third delinquency in the payment of any rent due hereunder during any said twelve (12) month period, Tenant shall immediately be in default under this Lease without any further notice from LandlordBase Rent or Additional Rent is due; or
(biii) if Tenant If (A) default shall be made by Subtenant in the observance or performance of any covenant, agreement, term or condition, other than those referred to in the foregoing subparagraphs (i) and (ii) of this Section 16(a), and Subtenant shall fail to pay any sum or other charge required to be paid by Tenant hereunder remedy such default within ten (other than the payment of the rental as set forth in said Section 2.01), and such failure shall continue for thirty (3010) days after written notice thereof from Landlord by Sublessor to TenantSubtenant of such default, unless (B) such default is of such a nature that it cannot be completely remedied within such 10-day period, in which case it must be remedied within such time after the date of the giving of said notice as shall reasonably be necessary; or
(civ) if Tenant If Subtenant shall make an assignment for abandon the benefit of Subleased Premises or not perform its creditorsobligations hereunder; or
(dv) if If at any time during the term hereof, there shall be filed by Subtenant in any court, pursuant to any statute, either of the United States or any state, a petition in bankruptcy or insolvency, or for the appointment of a receiver or Subtenant otherwise enters into an arrangement under the United States Bankruptcy Act or under any law of similar import; or
(vi) If at any time during the term hereof, there shall be filed against Tenant Subtenant or any assignee of Subtenant in any court, whether or not court pursuant to any statute either of the United States or of any statestate a petition in bankruptcy or insolvency, in any bankruptcy, or for reorganization, composition, extension, arrangement or insolvency proceedingsfor the appointment of a receiver or trustee of or for Subtenant's property, and remains undismissed for if within sixty (60) days or Tenant requires or consents to after the commencement of any such petition proceeding against Subtenant the same shall not have been stayed or filing, or if any such petition shall be so filed by Tenantdismissed; or
(evii) if, in If any proceeding, a receiver or trustee be appointed for all or any portion of Tenant’s property; or
(f) if Tenant shall abandon default declared by the Demised Premises for a period in excess of thirty (30) days, it being presumed that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for such thirty (30) consecutive day period without excuse as specifically allowed Landlord under the terms and provisions of this Lease; or
(g) if Tenant shall assign, mortgage or encumber this Lease, or sublet the whole or any part of the Demised Premises, otherwise than Xxxxxxxxx as expressly permitted hereunder, or if this Lease or the estate of Tenant hereunder shall be transferred, or passed to, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; or
(h) if Tenant shall fail to perform or observe any other requirement of this Lease (not hereinbefore in this Section 13.01 specifically referred to) on the part of Tenant to be performed or observed, and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant unless a shorter period of time which there is allowed under this Lease; provided, however, that, if such default cannot be cured with the exercise of diligent efforts within such thirty (30) days, such thirty (30) day no grace period shall be extended for such period of time, not exceeding an additional sixty (60) days, as shall be required for Tenant, in the exercise of diligent efforts, to cure the default unless a shorter period of time is required under the provisions of any mortgage encumbering the Demised Premises; or
(i) If an “Event of Default” shall occur under the terms and conditions of that certain Lease Agreement of even date herewith by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 Xxxxx Xxxxx, Xxxxx, Xxxxxxx, (the “Adamo Drive Lease”) if, and only if, at such time, the Landlord of the Adamo Drive Lease and the Landlord under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, then upon the happening of any one or more of the aforementioned events of default, and the expiration of the period of time prescribed in any such notice, Landlord may exercise any and all rights and remedies under this Lease and Florida law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided.
SECTION 13.02. In the event of any such default or breach by Tenant, in addition to all remedies available at law or in equity, Landlord may at any time thereafter, with or without notice, and without limiting Landlord in the exercise of any right or remedy which Landlord may have by reason of such default or breach:
(a) Terminate Tenant’s right to possession of the Demised Premises by any lawful means, in which case the term of this Lease shall expire and Tenant shall immediately surrender possession of the Demised Premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the cost of recovering possession of the Demised Premises, expenses of reletting, reasonable attorneys’ fees, and any real estate commission actually paid or required to be paid.
(b) Reenter and take possession of the Demised Premises and relet the same for Tenant’s account, holding Tenant liable in damages for all expenses incurred by Landlord in any such reletting and for any difference between the amount of rents received from such reletting and those due and payable under the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premises, Landlord shall have the right to lease or let the Demised Premises or portions thereof for such periods of time and at such rents and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements to the Demised Premises as may be necessary. Landlord shall be entitled to bring such actions or proceedings for the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end any act or omission of the term, and commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s right at any time to accelerate all rents and charges due from Tenant to the end of the term, or to terminate this Lease by giving notice to TenantSubtenant.
(c) Declare all rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be accelerated; provided, however, such accelerated amounts shall be discounted to their then present value on the basis of a five percent (5%) per annum discount from the respective dates that such amount should have been paid hereunder. In the event that any charges due hereunder cannot be exactly determined as of the date of acceleration, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on historical increases in such charges.
(d) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Florida.
Appears in 1 contract
Samples: Sublease Agreement (Computer Outsourcing Services Inc)
DEFAULT PROVISIONS AND REMEDIES. SECTION 13.01. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, a. If any one or more of the following events (herein called an “event hereinafter referred to as "Events of default”Default" ) shall occur, that is to say:
(ai) if Tenant If this Sublease or the estate of Subtenant hereunder shall fail be transferred or assigned by Subtenant to pay any installment person, firm corporation or other entity, whether by operation of the rent set forth law or otherwise, except in Section 2.01 of this Lease, or any part thereof, when the same shall become due and payable, and such failure shall continue for five (5) days after written notice thereof from Landlord; provided, however, Landlord shall only a manner as may be obligated to provide two (2) such five (5) day notice periods within any twelve (12) month period during the term of this Lease, and, upon the third delinquency in the payment of any rent due hereunder during any said twelve (12) month period, Tenant shall immediately be in default under this Lease without any further notice from Landlordherein expressly permitted; or
(bii) if Tenant If default shall fail to pay any sum or other charge required to be paid made by Tenant hereunder (other than Subtenant in the due and punctual payment of the rental as set forth in said Section 2.01), and such failure shall continue for thirty any installment of Base Rent or any Additional Rent payable under this Sublease within ten (3010) days after written receipt of notice thereof from Landlord to Tenantthat such Base Rent or Additional Rent is due; or
(ciii) if Tenant If (A) default shall make an assignment for be made by Subtenant in the benefit observance or performance of its creditorsany covenant, agreement, term or condition, other than those referred to in the foregoing subparagraphs (i) and (ii) of this Section 16(a), and Subtenant shall fail to remedy such default within fifteen (15) days after notice by Sublessor to Subtenant of such default, unless (B) such default is of such a nature that it cannot be completely remedied within such 15-day period, in which case it must be remedied within such time after the date of the giving of said notice as shall reasonably be necessary; or
(div) If Subtenant shall abandon the Subleased Premises; or
(v) If at any time during the term hereof, there shall be filed by Subtenant in any court, pursuant to any statute, either of the United States or any state, a petition in bankruptcy or insolvency, or for the appointment of a receiver or Subtenant otherwise enters into an arrangement under the United States Bankruptcy Act or under any law of similar import, and if within ninety (90) days after the commencement of any petition such occurrence the same shall not have been stayed, dismissed or otherwise remedied; or
(vi) If at any time during the term hereof, there shall be filed against Tenant Subtenant or any assignee of Subtenant in any court, whether or not court pursuant to any statute either of the United States or of any statestate a petition in bankruptcy or insolvency, in any bankruptcy, or for reorganization, composition, extension, arrangement or insolvency proceedings, and remains undismissed for sixty (60) days or Tenant requires or consents to any such petition or filing, or if any such petition shall be so filed by Tenant; or
(e) if, in any proceeding, the appointment of a receiver or trustee be appointed of or for all or any portion of Tenant’s Subtenant's property; or
(f) if Tenant shall abandon the Demised Premises for a period in excess of thirty (30) days, it being presumed that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for such thirty (30) consecutive day period without excuse as specifically allowed under the terms and provisions of this Lease; or
(g) if Tenant shall assign, mortgage or encumber this Lease, or sublet the whole or any part of the Demised Premises, otherwise than as expressly permitted hereunder, or if this Lease or the estate of Tenant hereunder shall be transferred, or passed to, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; or
(h) if Tenant shall fail to perform or observe any other requirement of this Lease (not hereinbefore in this Section 13.01 specifically referred to) on the part of Tenant to be performed or observed, and such failure shall continue for thirty if within ninety (3090) days after written notice thereof from Landlord to Tenant unless a shorter period of time is allowed under this Lease; provided, however, that, if such default cannot be cured with the exercise of diligent efforts within such thirty (30) days, such thirty (30) day period shall be extended for such period of time, not exceeding an additional sixty (60) days, as shall be required for Tenant, in the exercise of diligent efforts, to cure the default unless a shorter period of time is required under the provisions of any mortgage encumbering the Demised Premises; or
(i) If an “Event of Default” shall occur under the terms and conditions of that certain Lease Agreement of even date herewith by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 Xxxxx Xxxxx, Xxxxx, Xxxxxxx, (the “Adamo Drive Lease”) if, and only if, at such time, the Landlord of the Adamo Drive Lease and the Landlord under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, then upon the happening of any one or more of the aforementioned events of default, and the expiration of the period of time prescribed in any such notice, Landlord may exercise any and all rights and remedies under this Lease and Florida law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided.
SECTION 13.02. In the event commencement of any such default or breach by Tenant, in addition to all remedies available at law or in equity, Landlord may at any time thereafter, with or without notice, and without limiting Landlord in the exercise of any right or remedy which Landlord may have by reason of such default or breach:
(a) Terminate Tenant’s right to possession of the Demised Premises by any lawful means, in which case the term of this Lease shall expire and Tenant shall immediately surrender possession of the Demised Premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the cost of recovering possession of the Demised Premises, expenses of reletting, reasonable attorneys’ fees, and any real estate commission actually paid or required to be paid.
(b) Reenter and take possession of the Demised Premises and relet proceeding against Subtenant the same for Tenant’s account, holding Tenant liable in damages for all expenses incurred by Landlord in any such reletting and for any difference between the amount of rents received from such reletting and those due and payable under the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premises, Landlord shall have the right to lease or let the Demised Premises or portions thereof for such periods of time and at such rents and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements to the Demised Premises as may be necessary. Landlord shall be entitled to bring such actions or proceedings for the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end of the term, and commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s right at any time to accelerate all rents and charges due from Tenant to the end of the term, or to terminate this Lease by giving notice to Tenant.
(c) Declare all rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be accelerated; provided, however, such accelerated amounts shall be discounted to their then present value on the basis of a five percent (5%) per annum discount from the respective dates that such amount should have been paid hereunder. In the event that any charges due hereunder cannot be exactly determined as of the date of acceleration, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on historical increases in such chargesstayed or dismissed.
(d) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Florida.
Appears in 1 contract
Samples: Sublease Agreement (Ultrafem Inc)
DEFAULT PROVISIONS AND REMEDIES. SECTION Section 13.01. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, any one or more of the following events (herein called an “"event of default”") shall occur, that is to say:
(a) if Tenant shall fail to pay any installment of the rent set forth in Section 2.01 of this Lease, or any part thereof, when the same shall become due and payable, and such failure shall continue for five (5) days after written notice thereof from Landlord; provided, however, Landlord shall only be obligated to provide two (2) such five (5) day notice periods within any twelve (12) month period during the term of this Lease, and, upon the third delinquency in the payment of any rent due hereunder during any said twelve (12) month period, Tenant shall immediately be in default under this Lease without any further notice from LandlordTenant; or
(b) if Tenant shall fail to pay any sum or other charge required to be paid by Tenant hereunder (other than the payment of the rental as set forth in said Section 2.01), and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant; or
(c) if Tenant shall make an assignment for the benefit of its creditors; or
(d) if any petition shall be filed against Tenant in any court, whether or not pursuant to any statute of the United States or of any state, in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and remains undismissed for Tenant shall thereafter be adjudicated bankrupt, or such petition shall be approved by the court, or the court shall assume jurisdiction of the subject matter, or if such proceedings shall not be dismissed within sixty (60) days or Tenant requires or consents to any such petition or filing, after the institution of the same; or if any such petition shall be so filed by Tenant; or
(e) if, in any proceeding, a receiver or trustee be appointed for all or any portion of Tenant’s 's property, and such receivership or trusteeship shall not be vacated or set aside within sixty (60) days after the appointment of such receiver or trustee; or
(f) if Tenant shall abandon the Demised Premises for a period in excess of thirty (30) days, it being presumed that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for such thirty (30) consecutive day period without excuse as specifically allowed under the terms and provisions of this Lease; or
(g) if Tenant shall assign, mortgage or encumber this Lease, or sublet the whole or any part of the Demised Premisesdemised premises, otherwise than as expressly permitted hereunder, or if this Lease or the estate of Tenant hereunder shall be transferred, or passed to, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; or
(hg) if Tenant shall fail to perform or observe any other requirement of this Lease (not hereinbefore in this Section 13.01 specifically referred to) on the part of Tenant to be performed or observed, and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant unless a shorter period of time is allowed under this Lease; providedthen, however, that, if such default cannot be cured with the exercise of diligent efforts within such thirty (30) days, such thirty (30) day period shall be extended for such period of time, not exceeding an additional sixty (60) days, as shall be required for Tenant, in the exercise of diligent efforts, to cure the default unless a shorter period of time is required under the provisions of any mortgage encumbering the Demised Premises; or
(i) If an “Event of Default” shall occur under the terms and conditions of that certain Lease Agreement of even date herewith by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 Xxxxx Xxxxx, Xxxxx, Xxxxxxx, (the “Adamo Drive Lease”) if, and only if, at such time, the Landlord of the Adamo Drive Lease and the Landlord under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, then upon the happening of any one or more of the aforementioned events of default, and the expiration of the period of time prescribed in any such notice, Landlord may exercise any and all rights and remedies under this Lease and Florida law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises demised premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided.
SECTION Section 13.02. In the Upon an event of any such default or breach by Tenant, in addition to all remedies available at law or in equity, Landlord may at any time thereafter, with or without notice, further notice or demand and without limiting Landlord in the exercise of any other right or remedy which Landlord may have by reason of such default or breach:
(a) Terminate terminate Tenant’s right to 's possession of the Demised Premises demised premises by any lawful means, in which case the term of this Lease shall expire terminate and Tenant shall immediately surrender possession of the Demised Premises demised premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default Landlord's default, including, but not limited to, the cost of recovering possession of the Demised Premisesdemised premises, expenses of reletting, including necessary renovation and alteration of the demised premises, reasonable attorneys’ ' fees, and any real estate commission actually paid or required to be paid.;
(b) Reenter re-enter and take retake possession of the Demised Premises demised premises and relet the same for Tenant’s 's account, holding Tenant liable in damages for all expenses incurred by Landlord in any such reletting (including attorneys' fees, brokers' fees and commissions, repairs and remodeling) and for any difference between the amount of rents received from such reletting and those due and payable under the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premisesdemised premises, Landlord shall have the right to lease or let the Demised Premises demised premises or portions thereof for such periods of time and at such rents rentals and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements to the Demised Premises demised premises as may be necessary. Landlord shall be entitled to bring such actions or proceedings for the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end of the term, and Term. Neither Landlord's commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for or further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s 's right at any time to accelerate all rents and charges due from Tenant to the end of the term, Term or to terminate this Lease by giving notice to Tenant.;
(c) Declare declare all additional rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be accelerated; provided, however, such accelerated amounts shall be discounted to their then present value on the basis using a discount rate of a five four percent (54%) per annum discount annum; and provided further, however, that nothing contained herein shall be deemed to relieve Landlord from its duty to endeavor to mitigate any damages suffered by Landlord to the respective dates that such amount should have been paid hereunderextent required by Florida law. In the event that any charges due hereunder cannot exactly be exactly determined as of the date of acceleration, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on upon historical increases in such charges.;
(d) Pursue pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of in the State of Florida. Pursuit of any of the foregoing remedies shall not preclude pursuit of any of the other remedies herein provided or any other remedies provided by law. Tenant hereby waives any statutory notice of default. Forbearance by Landlord to enforce one or more of remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of any other violation or default, including without limitation any notices required pursuant to Florida Statute 83.20.
Appears in 1 contract
DEFAULT PROVISIONS AND REMEDIES. SECTION 13.01. This Lease and the demised term are subject to the limitation that if, at any time during the term hereof, any one or more 17.1 Each of the following events (herein called shall be deemed an “event Event of default”) shall occur, that is to sayDefault by STA under this Agreement:
(a) if Tenant shall fail 17.1.1 Failure by STA to pay perform or observe any installment of the rent set forth in Section 2.01 other material terms, covenant, agreement or condition of this Lease, or any Agreement on the part thereof, when the same shall become due and payable, of STA to be performed and such failure shall continue default continues for five (5) days after written notice thereof from Landlord; provided, however, Landlord shall only be obligated to provide two (2) such five (5) day notice periods within any twelve (12) month a period during the term of this Lease, and, upon the third delinquency in the payment of any rent due hereunder during any said twelve (12) month period, Tenant shall immediately be in default under this Lease without any further notice from Landlord; or
(b) if Tenant shall fail to pay any sum or other charge required to be paid by Tenant hereunder (other than the payment of the rental as set forth in said Section 2.01), and such failure shall continue for thirty (30) days after written notice thereof from Landlord to Tenant; or
SPC (c) provided that if Tenant shall make an assignment for the benefit of its creditors; or
(d) if any petition shall such default cannot be filed against Tenant in any court, whether or not pursuant to any statute of the United States or of any state, in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and remains undismissed for sixty (60) days or Tenant requires or consents to any such petition or filing, or if any such petition shall be so filed by Tenant; or
(e) if, in any proceeding, a receiver or trustee be appointed for all or any portion of Tenant’s property; or
(f) if Tenant shall abandon the Demised Premises for a period in excess of thirty (30) days, it being presumed that Tenant shall have abandoned the Demised Premises if it shall fail to continuously operate its business for cured within such thirty (30) consecutive day period, this period will be extended if STA commences to cure such default within such thirty (30) day period without excuse as specifically allowed under the terms and provisions proceeds diligently thereafter to effect such cure);
17.1.2 The filing of this Lease; or
a tax or mechanic's lien caused by STA against SPC's Network or fiber optic facilities or other property of SPC which is not bonded or discharged within thirty (g30) if Tenant shall assign, mortgage or encumber this Lease, or sublet the whole or any part days of the Demised Premisesdate SPC receives notice that such lien is filed.
17.2 Upon the occurrence of an Event of Default, otherwise than as SPC, without further notice to STA in any instance (except where expressly permitted hereunderprovided for below or by applicable law) may do any one or more of the following:
17.2.1 Perform, or if on behalf and at the expense of STA, any obligation of STA under this Lease or Agreement which STA has failed to perform and of which SPC shall have given STA notice, the estate cost of Tenant hereunder which performance by SPC shall be transferredpayable by STA to SPC upon demand;
17.2.2 Exercise any other legal or equitable right or remedy which it may have, including suspension or passed totermination of maintenance services SPC provides to STA hereunder.
17.3 The following events or occurrences shall constitute a default by SPC under this Agreement: URRS Agreement Page 156 Dated: September 9, or devolve upon, any person, firm or corporation other than Tenant herein named, except in the manner permitted hereunder; or0000 Xxxxxxxx K
(h) if Tenant shall fail 17.3.1 Failure by SPC to perform or observe any other requirement terms, covenant, agreement or condition of this Lease (not hereinbefore in this Section 13.01 specifically referred to) Agreement on the part of Tenant SPC to be performed or observed, and such failure shall continue default continues for a period of thirty (30) days after written notice thereof from Landlord to Tenant unless a shorter period of time is allowed under this Lease; provided, however, that, STA (provided that if such default cannot be cured with the exercise of diligent efforts within such thirty (30) daysday period, this period will be extended if SPC commences to cure such default within such thirty (30) day period shall be extended for and proceeds diligently thereafter to effect such period cure).
17.4 Upon the occurrence of time, not exceeding an additional sixty (60) days, as shall be required for Tenant, in the exercise of diligent efforts, to cure the default unless a shorter period of time is required under the provisions of any mortgage encumbering the Demised Premises; or
(i) If an “Event of Default” shall occur under the terms and conditions of that certain Lease Agreement of even date herewith , STA, without further notice to SPC in any instance (except where expressly provided for below or by and between Landlord and Tenant with respect to the parcel of land and premises located at 0000 Xxxxx Xxxxx, Xxxxx, Xxxxxxx, (the “Adamo Drive Lease”applicable law) if, and only if, at such time, the Landlord of the Adamo Drive Lease and the Landlord under this Lease shall be the same person, or Affiliates of one another. For purposes of this Lease, the term “Affiliate”, as used to indicate a relationship with a specific person, shall mean a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified, and in the case of a specified person who is a natural person, also includes his spouse, his former spouses, his issue, his parents, his estate and any trust for the benefit of his spouse and/or issue, then upon the happening of may do any one or more of the aforementioned events following:
17.4.1 Perform, on behalf and at the expense of defaultSPC, any obligation of SPC under this Agreement which SPC has failed to perform and the expiration of the period of time prescribed in any such which STA shall have given SPC notice, Landlord the cost of which performance by STA shall be payable by SPC to STA upon demand;
17.4.2 Exercise any other legal or equitable right or remedy which it may exercise any and all have.
17.5 All rights and remedies of either party set forth in this Agreement shall be cumulative, and none shall exclude any other right or remedy, now or hereafter allowed by or available under this Lease and Florida any statute, ordinance, rule of court, or the common law. Upon the election of Landlord, this Lease and the term hereof, as well as all of the right, title and interest of Tenant hereunder, shall wholly cease and expire and Tenant shall then quit and surrender the Demised Premises to Landlord, but Tenant shall nonetheless and in all events remain liable as hereinafter provided.
SECTION 13.02. In the event of any such default or breach by Tenant, in addition to all remedies available either at law or in equity, Landlord may at or both. 18 FORCE MAJEURE Neither SPC nor STA shall be in default under this Agreement with respect to any time thereafterdelay in its performance caused by any of the following conditions (each a "Force Majeure Event"): (1) act of God; (2) fire; (3) flood; (4) material shortage or unavailability not resulting from the responsible party's failure to timely place orders or take other necessary actions therefor; (5) government codes, with ordinances, laws, rules, regulations or without noticerestrictions (collectively, and without limiting Landlord in "Regulations"); (6) war or civil disorder; (7) failure of a third party to grant or recognize an SPC Occupancy Right; or (8) any other cause beyond the exercise of any right or remedy which Landlord may have by reason reasonable control of such default or breach:
(a) Terminate Tenant’s right to possession of the Demised Premises by any lawful means, in which case the term of this Lease shall expire and Tenant shall immediately surrender possession of the Demised Premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the cost of recovering possession of the Demised Premises, expenses of reletting, reasonable attorneys’ fees, and any real estate commission actually paid or required to be paid.
(b) Reenter and take possession of the Demised Premises and relet the same for Tenant’s account, holding Tenant liable in damages for all expenses incurred by Landlord in any such reletting and for any difference between the amount of rents received from such reletting and those due and payable under the terms of this Lease, and Landlord shall not be deemed to have thereby accepted a surrender of the Demised Premises. In the event Landlord relets the Demised Premises, Landlord shall have the right to lease or let the Demised Premises or portions thereof for such periods of time and at such rents and for such use and upon such covenants and conditions as Landlord, in its sole discretion, may elect, and Landlord may make such repairs and improvements to the Demised Premises as may be necessary. Landlord shall be entitled to bring such actions or proceedings for the recovery of any deficits due to Landlord as it may deem advisable, without being obligated to wait until the end of the term, and commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals, nor shall anything in this subparagraph (b) limit or prohibit Landlord’s right at any time to accelerate all rents and charges due from Tenant to the end of the term, or to terminate this Lease by giving notice to Tenant.
(c) Declare all rents and charges due hereunder immediately due and payable, and thereupon all such rents and fixed charges to the end of the term shall thereupon be acceleratedparty; provided, however, such accelerated amounts that this Section 20 shall be discounted not apply to their then present value on the basis payment of a five percent (5%) per annum discount from money. The party claiming relief under this Section 20 shall promptly notify the respective dates that such amount should have been paid hereunder. In the event that any charges due hereunder cannot be exactly determined as other in writing of the date existence of accelerationthe Force Majeure Event relied on, the amount of such charges shall be determined by ‘Landlord in a reasonable manner based on historical increases in such charges.
(d) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions expected duration of the State Force Majeure Event, and the cessation or termination of Floridathe Force Majeure Event. The party claiming relief under this Section 20 shall exercise commercially reasonable efforts to minimize the time for any such delay.
Appears in 1 contract
Samples: Unit Redemption, Release, and Sale Agreement (Nevada Power Co)
