Defaults by Tenant; Remedies. 15.1. Each of the following constitutes a default (“Default”): (a) Tenant’s failure to make when due any payment of the Base Rent, additional rent or other sum, which failure shall continue for a period of three (3) days after Landlord sends Tenant written notice thereof; (b) Tenant’s failure to perform or observe any other covenant or condition of this Lease, which failure shall continue for a period of ten (10) days after Landlord sends Tenant written notice thereof (or such shorter period as is appropriate if such failure is capable of being cured sooner); (c) Tenant’s failure to take occupancy of or occupy continuously the Premises; (d) an bankruptcy; or (e) Tenant’s failure to pay any sum or perform or observe any covenant or condition of this Lease when required under this Lease (without regard to any grace period otherwise allowed) more than twice during any twelve month period during the Term. 15.2. In addition to any other remedies available at law or equity, if a Default remains uncured, Landlord may, upon ten (10) days’ prior written notice to Tenant, pursue any of the following: (a) terminate Tenant’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall surrender possession to Landlord; (b) enter and take possession of the Premises, and remove Tenant, with or without having terminated the Lease; or (c) alter locks and other security devices at the Premises, as permitted by law. 15.3. If Landlord terminates this Lease or ends Tenant’s right to possess the Premises due to a Default, Landlord may hold Tenant liable for Rent, and other indebtedness accrued to the date the Lease ends. Tenant shall also be liable for the Rent and other indebtedness that otherwise would have been payable by Tenant during the remainder of the Term had there been no Default, reduced by any sums Landlord receives by reletting the Premises during the Term or by taking other mitigation measures. 15.4. All rights and remedies of Landlord set forth in this Lease are cumulative and in addition to all other rights and remedies available to Landlord at law or in equity, including those available as a result of any anticipatory breach of this Lease. The exercise by Landlord of any such right or remedy shall not prevent the concurrent or subsequent exercise of any other right or remedy. No delay or failure by Landlord or Tenant to exercise or enforce any of its respective rights or remedies or the other party’s obligations (except to the extent a time period is specified in this Lease therefor) shall constitute a waiver of any such or subsequent rights, remedies or obligations. Neither party shall be deemed to have waived any default by the other party unless such waiver expressly is set forth in a written instrument signed by the party against whom such waiver is asserted. If Landlord waives in writing any default by Tenant, such waiver shall not be construed as a waiver of any covenant, condition or agreement set forth in this Lease except as to the specific circumstances described in such written waiver
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Defaults by Tenant; Remedies. 15.1. Each Section 16.1 Tenant shall be deemed in default of the following constitutes a default (“Default”): obligations to be performed by it pursuant to the provisions of this Lease if: (a) Tenant’s failure Tenant shall fail to make when due any payment of Rent or of any other payment reserved herein within the Base Rent, additional rent time provided in this Lease for payment of same to be made; or other sum, which failure shall continue for a period of three (3) days after Landlord sends Tenant written notice thereof; (b) Tenant’s failure if Tenant shall fail to perform or observe fulfill any other covenant or condition of the covenants of this LeaseLease other than the covenants for the payments reserved herein, which and said failure shall continue for a period of ten (10) days after Landlord sends Tenant written notice thereof (or such shorter period as is appropriate if from Landlord specifying such failure is capable (or, in the case of being a default or omission the nature of which cannot be completely cured sooneror remedied within ten (10) days, Tenant shall not have diligently commenced curing such default within said ten (10) day period and not thereafter with reasonable dispatch and diligence and in good faith proceeded to remedy or cure such default, all in Landlord’s reasonable judgment); or (c) Tenant’s failure to take occupancy of if the Premises shall become vacant or occupy continuously the Premisesdeserted; or (d) an bankruptcyif there is any execution or attachment issued against Tenant; or (e) if Tenant shall become insolvent or transfer property to defraud creditors; if Tenant shall make an assignment for the benefit of creditors; or if a receiver is appointed for any of Tenant’s failure assets; or (f) if Tenant fails to pay bond off or otherwise remove any sum lien filed against the Premises or perform or observe any covenant or condition the Landlord’s Premises by reason of this Lease when required under this Lease (without regard to any grace period otherwise allowed) more than twice during any twelve month period during the Term.
15.2. In addition to any other remedies available at law or equityTenant’s actions, if a Default remains uncured, Landlord may, upon within ten (10) days’ prior written days after Tenant has notice to Tenant, pursue any of the following: filing of such lien; or (g) if all or any part of this Lease shall be assigned, or if all or any part of the Premises shall he sublet, either voluntarily or by operation of law, except in strict accordance with the requirements of Article XXVIII hereof.
Section 16.2 In the event of such a default by Tenant under subparagraphs (a) through (g) above, Landlord may give five (5) days notice of its intention to end the term of this Lease and thereupon at the expiration of said five (5) days, the term of this Lease shall expire as though such date were the Expiration Date, but Tenant shall remain liable for damages as provided in this Lease and pursuant to law. Tenant shall then quit and surrender the Premises, but shall remain liable as hereinafter provided.
Section 16.3 If at any time during the term of this Lease, there shall be filed by or against Tenant in any court pursuant to any statute either of the United States or of any State a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s property, this Lease shall ipso facto be canceled and terminated.
Section 16.4 If the notice provided in Section 16.2 shall have been given and the term hereof shall expire as aforesaid, or if this Lease shall have been terminated in accordance with Section 16.3, Landlord may without additional notice re-enter the Premises, either by force or otherwise, and dispossess Tenant and the legal representative of Tenant or other occupant of the Premises by summary proceedings or otherwise remove their effects and hold the Premises as if this Lease had not been made, and Tenant and its legal representative or other occupant of the Premises hereby waive the service of notice of intention to re-enter or to institute legal proceedings to that end. If Tenant shall default hereunder prior to the date fixed as the commencement of any renewal or extension of this Lease, then Landlord may cancel and terminate such renewal or extension.
Section 16.5 In the case of any such default, re-entry, expiration and/or dispossess by summary proceedings or otherwise, as aforesaid, (a) the Rent due at the time of said default shall become due thereupon and be paid up to the time of such re-entry, dispossess and/or expiration, together with such expenses as Landlord may incur for legal expenses, attorneys’ fees, brokerage fees and/or putting the Premises in good order or for preparing the same for re-rental; (b) Landlord may re-let the Premises or any part or parts thereof, either in its own name or otherwise, for a term or terms which may, at its option, be shorter or longer than the period which would otherwise have constituted the remainder of the term of this Lease and may grant concessions or free Rent, to such extent as Landlord in Landlord’s sole judgment considers advisable and necessary to re-let the same; and (c) Tenant or its successors shall also pay the Landlord as liquidated damages for the failure of Tenant to observe and perform its covenants contained herein any deficiency between the Rent hereby reserved and the net amount, if any, of the rents collected on account of the Lease or subleases of the Premises or parts thereof for each month of the period which would otherwise have constituted the remainder of the term of this Lease subject to Tenant’s right to terminate the Lease early as provided in Section 23.3. The failure of Landlord to re-let the Premises or any part of parts thereof shall not release or affect Tenant’s liability for damages. In computing such liquidated damages, there shall be added to said deficiency such expenses as Landlord shall incur in connection with such re-letting, such as legal expenses, attorneys’ fees, brokerage, advertising and for restoring the Premises to or keeping same in good working order. Any such liquidated damages shall be paid in monthly installments on the Rent day specified in this Lease and any suit brought to collect the amount of the deficiency for any month shall not prejudice in any way the rights of Landlord to collect the deficiency for any subsequent month by a similar proceeding. Upon Landlord’s permitted entry hereunder, Landlord, at its option, may make such alterations, repairs, replacements and decorations in the Premises as Landlord in its sole judgment considers advisable or necessary for the purpose of re-letting the Premises, and the making of such alterations and decorations shall not operate or be construed to release Tenant from liability hereunder. Landlord shall in no event be liable in any way whatsoever for failure to re-let the Premises, or, in the event that the Premises are re-let, for reasonable failure to collect the Rent thereof under such re-letting, and, in no event shall Tenant be entitled to receive any excess of such net rent collected above the sums payable by Tenant to Landlord hereunder. Mention in this Lease of any particular remedy shall not preclude Landlord from any other remedy in law or equity. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed, for any cause, or in the event of Landlord obtaining possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall surrender possession to Landlord; (b) enter and take possession reason of the Premises, and remove Tenant, with or without having terminated the Lease; or (c) alter locks and other security devices at the Premises, as permitted by law.
15.3. If Landlord terminates this Lease or ends Tenant’s right to possess the Premises due to a Default, Landlord may hold violation of Tenant liable for Rent, and other indebtedness accrued to the date the Lease ends. Tenant shall also be liable for the Rent and other indebtedness that otherwise would have been payable by Tenant during the remainder of any of the Term had there been no Defaultcovenants and conditions of this Lease, reduced or otherwise. Pursuit by Landlord of any sums Landlord receives by reletting of the Premises during the Term or by taking other mitigation measures.
15.4. All rights and foregoing remedies of Landlord set forth in this Lease are cumulative and shall not preclude the pursuit of any damages incurred, or of any of the other remedies provided herein or available, at law or in addition to all other rights and remedies available to equity. No act or thing done by Landlord or Landlord’s employees or agents during the Term shall be deemed an acceptance of a surrender of the Premises. Neither the mention in this Lease of any particular remedy, nor the exercise by Landlord of any particular remedy hereunder, or at law or in equity, including those available shall preclude Landlord from any other remedy Landlord might have under this Lease, or at law or in equity.
Section 16.6 It is stipulated and agreed that in the event of the termination of this Lease pursuant to the provisions of this Paragraph, Landlord shall forthwith, notwithstanding any other provisions of this Paragraph or of this Lease to the contrary, be entitled to recover from Tenant as a result and for liquidated damages an amount equal to the Rent for the unexpired portion of any anticipatory breach the term of this Lease, subject to Tenant’s right to terminate the Lease early as provided in Section 23.3, discounted at the rate of four (4%) percent per annum to present worth. The exercise Nothing contained herein shall limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by Landlord reason of such termination an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved.
Section 16.7 Tenant acknowledges and agrees that all disputes arising, directly or indirectly, out of or relating to this Lease should be dealt with by application of the laws of the State of New York and adjudicated in the state courts of the State of New York sitting in Kings County or the Federal courts sitting in the State of New York in Kings County; and hereby expressly and irrevocably submits Tenant to the jurisdiction of such courts in any suit, action or proceeding arising, directly or indirectly, out of or relating to this Lease. So far as is permitted under the applicable law, this consent to personal jurisdiction shall be self-operative and no further instrument or action, other than service of process in one of the manners permitted by law, shall be necessary in order to confer jurisdiction upon Tenant in any such court. Provided that service of process is effected upon Tenant in one of the manners permitted by law, Tenant irrevocably waives, to the fullest extent permitted by law, and agrees not to assert, by way of motion, as a defense or otherwise, (a) any objection which it may have, or may hereafter have to the laying of the venue of any such right suit, action or remedy proceeding brought in such a court as is mentioned in the previous paragraph, (b) any claim that any such suit, action or proceeding brought in such a court has been brought in an inconvenient forum, or (c) any claim that it is not personally subject to the jurisdiction of the above named courts. Tenant hereby further irrevocably consents to the service of process in any suit, action or proceeding by the mailing or delivery of the appropriate documents (e.g., process or summons) by Landlord to the Premises and delivered in one of the manners set forth in Article XXV hereof. Nothing herein shall not prevent in any way be deemed to limit the concurrent ability of Landlord to serve any such papers in any other manner permitted by applicable law.
Section 16.8 If Tenant shall default in the observance or subsequent exercise performance of any other right obligation of Tenant under this Lease, then, unless otherwise provided elsewhere hereunder, Landlord may immediately or remedyat any time thereafter without notice perform such obligation of Tenant without hereby waiving such default. No delay If Landlord, in connection therewith incurs any costs including, but not limited to, attorneys’ fees in instituting, prosecuting or failure by Landlord defending any action or Tenant to exercise or enforce any proceeding, such costs with interest at the rate of its respective rights or remedies or the other party’s obligations five (except to the extent a time period is specified in this Lease therefor5%) shall constitute a waiver of any such or subsequent rightspercent per annum, remedies or obligations. Neither party shall be deemed to have waived any default be Additional Rent hereunder and shall be paid by the other party unless such waiver expressly is set forth in a written instrument signed by the party against whom such waiver is asserted. If Tenant to Landlord waives in writing any default by Tenant, such waiver shall not be construed as a waiver within five (5) days of rendition of any covenant, condition xxxx or agreement set forth in this Lease except as statement to the specific circumstances described in such written waiverTenant therefor.
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Samples: Assignment and Assumption of Lease (Brooklyn ImmunoTherapeutics, Inc.)
Defaults by Tenant; Remedies. 15.1. Each If any of the following constitutes a default (“Default”): shall occur:
(a) Tenant’s failure to make Tenant does not pay in full when due any and all installments of rent (whether Fixed Rent or additional rent) or any other charge or payment of the Base Rentwhether or not herein included as rent after five (5) days written notice, additional rent provided that such notice shall not be required more than two (2) times in any twelve (12) month period;
(b) Tenant violates or other sumfails to perform or comply with any non-monetary covenant, which agreement or condition herein contained, and such violation or failure shall continue continues for a period of three thirty (330) days after Landlord sends Tenant written notice thereof; (b) Tenant’s failure to perform or observe any other covenant or condition of this Lease, which failure shall continue for a period of ten (10) days after Landlord sends Tenant written notice thereof (or such shorter period as is appropriate by Landlord to Tenant; provided however that if such failure is capable not reasonably susceptible of being cured sooner); cure within such thirty (30) day period and provided Tenant is diligently pursuing the remedies necessary to cure such failure during the thirty (30) day period, Tenant shall have such additional time as is reasonably necessary to cure such failure;
(c) Tenant’s failure to take occupancy of or occupy continuously the PremisesIntentionally deleted; or
(d) an bankruptcy; An involuntary case under the federal bankruptcy law as now or (e) hereafter constituted is commenced against Tenant or any guarantor or surety of Tenant’s failure to pay any sum or perform or observe any covenant or condition of this Lease when required 's obligations under this Lease (without regard to any grace period otherwise allowed) more than twice during any twelve month period during the Term.
15.2. In addition to "Guarantor"), or under any other remedies available at law applicable federal or equitystate bankruptcy, insolvency, reorganization, or other similar law, or there is filed against Tenant or a Guarantor a petition seeking the appointment of a receiver, liquidator or assignee, custodian, trustee, sequestrator (or similar official) of Tenant or a Guarantor of any substantial part of Tenant's or a Guarantor's property, or seeking the winding-up or liquidation of Tenant's or a Guarantor's affairs and such involuntary case or petition is not dismissed within sixty (60) days after the filing thereof, of if Tenant or a Default remains uncuredGuarantor commences a voluntary case or institutes proceedings to be adjudicated as bankrupt or insolvent or consents to the entry of an order for relief under the federal bankruptcy laws as now or hereafter constituted, Landlord mayor any other applicable federal or state bankruptcy or insolvency or other similar law, or consents to the appointment of or taking possession by a receiver or liquidator or assignee, trustee, custodian, sequestrator (or other similar official) of Tenant or a Guarantor of any substantial part of Tenant's or a Guarantor's property, or if Tenant or any Guarantor makes any assignment for the benefit of creditors or admits in writing its inability to pay its debts generally as they become due or fails to generally pay its debts as they become due or if Tenant is levied upon ten (10) days’ prior written notice and is about to Tenant, pursue any of the following: (a) terminate Tenant’s right to possession of be sold out upon the Premises by any lawful meanssheriff, xxxxxxxx or constable or Tenant or its stockholders or Board of Directors or any committee thereof takes any action in which case this Lease shall terminate and Tenant shall surrender possession to Landlord; (b) enter and take possession contemplation, preparation or furtherance of or for any of the Premisesforegoing, or, if Tenant or any Guarantor is a corporation and is dissolved or liquidated, Then, and remove Tenantin any such event, with or without having terminated the Lease; or (c) alter locks and other security devices at the Premises, as permitted by law.
15.3. If Landlord terminates this Lease or ends Tenant’s right to possess the Premises due to a Default, Landlord may hold Tenant liable for Rent, and other indebtedness accrued to the date the Lease ends. Tenant shall also be liable for the Rent and other indebtedness that otherwise would have been payable by Tenant during the remainder sole option of the Term had there been no Default, reduced by any sums Landlord receives by reletting the Premises during the Term or by taking other mitigation measures.
15.4. All rights and remedies of Landlord set forth in this Lease are cumulative and in addition to all other rights and remedies available to Landlord at law or in equity, including those available as a result of any anticipatory breach of this Lease. The exercise by Landlord of any such right or remedy shall not prevent the concurrent or subsequent exercise of any other right or remedy. No delay or failure by Landlord or Tenant to exercise or enforce any of its respective rights or remedies or the other party’s obligations (except to the extent a time period is specified in this Lease therefor) shall constitute a waiver of any such or subsequent rights, remedies or obligations. Neither party shall be deemed to have waived any default by the other party unless such waiver expressly is set forth in a written instrument signed by the party against whom such waiver is asserted. If Landlord waives in writing any default by Tenant, such waiver shall not be construed as a waiver of any covenant, condition or agreement set forth in this Lease except as to the specific circumstances described in such written waiverLandlord,
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Defaults by Tenant; Remedies. 15.1. Each Section 16.1 Tenant shall be deemed in default of the following constitutes a default (“Default”): obligations to be performed by it pursuant to the provisions of this Lease if: (a) Tenant’s failure Tenant shall fail to make when due any payment of Rent or of any other payment reserved herein within the Base Rent, additional rent time provided in this Lease for payment of same to be made; or other sum, which failure shall continue for a period of three (3) days after Landlord sends Tenant written notice thereof; (b) Tenant’s failure if Tenant shall fail to perform or observe fulfill any other covenant or condition of the covenants of this LeaseLease other than the covenants for the payments reserved herein, which and said failure shall continue for a period of ten (10) days after Landlord sends Tenant written notice thereof (or such shorter period as is appropriate if from Landlord specifying such failure is capable (or, in the case of being a default or omission the nature of which cannot be completely cured sooneror remedied within ten (10) days, Tenant shall not have diligently commenced curing such default within said ten (10) day period and not thereafter with reasonable dispatch and diligence and in good faith proceeded to remedy or cure such default, all in Landlord’s reasonable judgment); or (c) Tenant’s failure to take occupancy of if the Premises shall become vacant or occupy continuously the Premisesdeserted; or (d) an bankruptcyif there is any execution or attachment issued against Tenant; or (e) if Tenant shall become insolvent or transfer property to defraud creditors; if Tenant shall make an assignment for the benefit of creditors; or if a receiver is appointed for any of Tenant’s failure assets; or (f) if Tenant fails to pay bond off or otherwise remove any sum lien filed against the Premises or perform or observe any covenant or condition the Landlord’s Premises by reason of this Lease when required under this Lease (without regard to any grace period otherwise allowed) more than twice during any twelve month period during the Term.
15.2. In addition to any other remedies available at law or equityTenant’s actions, if a Default remains uncured, Landlord may, upon within ten (10) days’ prior written days after Tenant has notice to Tenant, pursue any of the following: filing of such lien; or (g) if all or any part of this Lease shall be assigned, or if all or any part of the Premises shall be sublet, either voluntarily or by operation of law, except in strict accordance with the requirements of Article XXVIII hereof.
Section 16.2 In the event of such a default by Tenant under subparagraphs (a) through (g) above, Landlord may give five (5) days notice of its intention to end the term of this Lease and thereupon at the expiration of said five (5) days, the term of this Lease shall expire as though such date were the Expiration Date, but Tenant shall remain liable for damages as provided in this Lease and pursuant to law. Tenant shall then quit and surrender the Premises, but shall remain liable as hereinafter provided.
Section 16.3 If at any time during the term of this Lease, there shall be filed by or against Tenant in any court pursuant to any statute either of the United States or of any State a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s property, this Lease shall ipso facto be canceled and terminated.
Section 16.4 If the notice provided in Section 16.2 shall have been given and the term hereof shall expire as aforesaid, or if this Lease shall have been terminated in accordance with Section 16.3, Landlord may without additional notice re-enter the Premises, either by force or otherwise, and dispossess Tenant and the legal representative of Tenant or other occupant of the Premises by summary proceedings or otherwise remove their effects and hold the Premises as if this Lease had not been made, and Tenant and its legal representative or other occupant of the Premises hereby waive the service of notice of intention to re-enter or to institute legal proceedings to that end. If Tenant shall default hereunder prior to the date fixed as the commencement of any renewal or extension of this Lease, then Landlord may cancel and terminate such renewal or extension.
Section 16.5 In the case of any such default, re-entry, expiration and/or dispossess by summary proceedings or otherwise, as aforesaid, (a) the Rent due at the time of said default shall become due thereupon and be paid up to the time of such re-entry, dispossess and/or expiration, together with such expenses as Landlord may incur for legal expenses, attorneys’ fees, brokerage fees and/or putting the Premises in good order or for preparing the same for re-rental; (b) Landlord may re-let the Premises or any part or parts thereof, either in its own name or otherwise, for a term or terms which may, at its option, be shorter or longer than the period which would otherwise have constituted the remainder of the term of this Lease and may grant concessions or free Rent, to such extent as Landlord in Landlord’s sole judgment considers advisable and necessary to re-let the same; and (c) Tenant or its successors shall also pay the Landlord as liquidated damages for the failure of Tenant to observe and perform its covenants contained herein any deficiency between the Rent hereby reserved and the net amount, if any, of the rents collected on account of the Lease or subleases of the Premises or parts thereof for each month of the period which would otherwise have constituted the remainder of the term of this Lease subject to Tenant’s right to terminate the Lease early as provided in Section 23.3. The failure of Landlord to re-let the Premises or any part of parts thereof shall not release or affect Tenant’s liability for damages. In computing such liquidated damages, there shall be added to said deficiency such expenses as Landlord shall incur in connection with such re-letting, such as legal expenses, attorneys’ fees, brokerage, advertising and for restoring the Premises to or keeping same in good working order. Any such liquidated damages shall be paid in monthly installments on the Rent day specified in this Lease and any suit brought to collect the amount of the deficiency for any month shall not prejudice in any way the rights of Landlord to collect the deficiency for any subsequent month by a similar proceeding. Upon Landlord’s permitted entry hereunder, Landlord, at its option, may make such alterations, repairs, replacements and decorations in the Premises as Landlord in its sole judgment considers advisable or necessary for the purpose of re-letting the Premises, and the making of such alterations and decorations shall not operate or be construed to release Tenant from liability hereunder. Landlord shall in no event be liable in any way whatsoever for failure to re-let the Premises, or, in the event that the Premises are re-let, for reasonable failure to collect the Rent thereof under such re-letting, and, in no event shall Tenant be entitled to receive any excess of such net rent collected above the sums payable by Tenant to Landlord hereunder. Mention in this Lease of any particular remedy shall not preclude Landlord from any other remedy in law or equity. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed, for any cause, or in the event of Landlord obtaining possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall surrender possession to Landlord; (b) enter and take possession reason of the Premises, and remove Tenant, with or without having terminated the Lease; or (c) alter locks and other security devices at the Premises, as permitted by law.
15.3. If Landlord terminates this Lease or ends Tenant’s right to possess the Premises due to a Default, Landlord may hold violation of Tenant liable for Rent, and other indebtedness accrued to the date the Lease ends. Tenant shall also be liable for the Rent and other indebtedness that otherwise would have been payable by Tenant during the remainder of any of the Term had there been no Defaultcovenants and conditions of this Lease, reduced or otherwise. Pursuit by Landlord of any sums Landlord receives by reletting of the Premises during the Term or by taking other mitigation measures.
15.4. All rights and foregoing remedies of Landlord set forth in this Lease are cumulative and shall not preclude the pursuit of any damages incurred, or of any of the other remedies provided herein or available, at law or in addition to all other rights and remedies available to equity. No act or thing done by Landlord or Landlord’s employees or agents during the Term shall be deemed an acceptance of a surrender of the Premises. Neither the mention in this Lease of any particular remedy, nor the exercise by Landlord of any particular remedy hereunder, or at law or in equity, including those available shall preclude Landlord from any other remedy Landlord might have under this Lease, or at law or in equity.
Section 16.6 It is stipulated and agreed that in the event of the termination of this Lease pursuant to the provisions of this Paragraph, Landlord shall forthwith, notwithstanding any other provisions of this Paragraph or of this Lease to the contrary, be entitled to recover from Tenant as a result and for liquidated damages an amount equal to the Rent for the unexpired portion of any anticipatory breach the term of this Lease, subject to Tenant’s right to terminate the Lease early as provided in Section 23.3, discounted at the rate of four (4%) percent per annum to present worth. The exercise Nothing contained herein shall limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by Landlord reason of such termination an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved.
Section 16.7 Tenant acknowledges and agrees that all disputes arising, directly or indirectly, out of or relating to this Lease should be dealt with by application of the laws of the State of New York and adjudicated in the state courts of the State of New York sitting in Kings County or the Federal courts sitting in the State of New York in Kings County; and hereby expressly and irrevocably submits Tenant to the jurisdiction of such courts in any suit, action or proceeding arising, directly or indirectly, out of or relating to this Lease. So far as is permitted under the applicable law, this consent to personal jurisdiction shall be self-operative and no further instrument or action, other than service of process in one of the manners permitted by law, shall be necessary in order to confer jurisdiction upon Tenant in any such court. Provided that service of process is effected upon Tenant in one of the manners permitted by law, Tenant irrevocably waives, to the fullest extent permitted by law, and agrees not to assert, by way of motion, as a defense or otherwise, (a) any objection which it may have, or may hereafter have to the laying of the venue of any such right suit, action or remedy proceeding brought in such a court as is mentioned in the previous paragraph, (b) any claim that any such suit, action or proceeding brought in such a court has been brought in an inconvenient forum, or (c) any claim that it is not personally subject to the jurisdiction of the above named courts. Tenant hereby further irrevocably consents to the service of process in any suit, action or proceeding by the mailing or delivery of the appropriate documents (e.g., process or summons) by Landlord to the Premises and delivered in one of the manners set forth in Article XXV hereof. Nothing herein shall not prevent in any way be deemed to limit the concurrent ability of Landlord to serve any such papers in any other manner permitted by applicable law.
Section 16.8 If Tenant shall default in the observance or subsequent exercise performance of any other right obligation of Tenant under this Lease, then, unless otherwise provided elsewhere hereunder, Landlord may immediately or remedyat any time thereafter without notice perform such obligation of Tenant without hereby waiving such default. No delay If Landlord, in connection therewith incurs any costs including, but not limited to, attorneys’ fees in instituting, prosecuting or failure by Landlord defending any action or Tenant to exercise or enforce any proceeding, such costs with interest at the rate of its respective rights or remedies or the other party’s obligations five (except to the extent a time period is specified in this Lease therefor5%) shall constitute a waiver of any such or subsequent rightspercent per annum, remedies or obligations. Neither party shall be deemed to have waived any default be Additional Rent hereunder and shall be paid by the other party unless such waiver expressly is set forth in a written instrument signed by the party against whom such waiver is asserted. If Tenant to Landlord waives in writing any default by Tenant, such waiver shall not be construed as a waiver within five (5) days of rendition of any covenant, condition bxxx or agreement set forth in this Lease except as statement to the specific circumstances described in such written waiverTenant therefor.
Appears in 1 contract
Samples: Lease Agreement (NTN Buzztime Inc)
Defaults by Tenant; Remedies. 15.1. Each If any of the following constitutes a default (“Default”): shall occur:
(a) Tenant’s failure to make Tenant does not pay in full when due any and all installments of rent (whether Fixed Rent or additional rent) or any other charge or payment of the Base Rentwhether or not herein included as rent after five (5) days written notice, additional rent provided that such notice shall not be required more than two (2) times in any twelve (12) month period;
(b) Tenant violates or other sumfails to perform or comply with any non-monetary covenant, which agreement or condition herein contained, and such violation or failure shall continue continues for a period of three thirty (330) days after Landlord sends Tenant written notice thereof; (b) Tenant’s failure to perform or observe any other covenant or condition of this Lease, which failure shall continue for a period of ten (10) days after Landlord sends Tenant written notice thereof (or such shorter period as is appropriate by Landlord to Tenant; provided however that if such failure is capable not reasonably susceptible of being cured sooner); cure within such thirty (30) day period and provided Tenant is diligently pursuing the remedies necessary to cure such failure during the thirty (30) day period, Tenant shall have such additional time as is reasonably necessary to cure such failure;
(c) Tenant’s failure to take occupancy of or occupy continuously the PremisesIntentionally deleted; or
(d) an bankruptcy; An involuntary case under the federal bankruptcy law as now or (e) hereafter constituted is commenced against Tenant or any guarantor or surety of Tenant’s failure to pay any sum or perform or observe any covenant or condition of this Lease when required obligations under this Lease (without regard to any grace period otherwise allowed) more than twice during any twelve month period during the Term.
15.2. In addition to “Guarantor”), or under any other remedies available at law applicable federal or equitystate bankruptcy, if insolvency, reorganization, or other similar law, or there is filed against Tenant or a Default remains uncuredGuarantor a petition seeking the appointment of a receiver, Landlord mayliquidator or assignee, upon ten custodian, trustee, sequestrator (10or similar official) days’ prior written notice to Tenant, pursue of Tenant or a Guarantor of any substantial part of the following: (a) terminate Tenant’s right or a Guarantor’s property, or seeking the winding-up or liquidation of Tenant’s or a Guarantor’s affairs and such involuntary case or petition is not dismissed within sixty (60) days after the filing thereof, of if Tenant or a Guarantor commences a voluntary case or institutes proceedings to be adjudicated as bankrupt or insolvent or consents to the entry of an order for relief under the federal bankruptcy laws as now or hereafter constituted, or any other applicable federal or state bankruptcy or insolvency or other similar law, or consents to the appointment of or taking possession by a receiver or liquidator or assignee, trustee, custodian, sequestrator (or other similar official) of Tenant or a Guarantor of any substantial part of Tenant’s or a Guarantor’s property, or if Tenant or any Guarantor makes any assignment for the benefit of creditors or admits in writing its inability to pay its debts generally as they become due or fails to generally pay its debts as they become due or if Tenant is levied upon and is about to be sold out upon the Premises by any lawful meanssheriff, xxxxxxxx or constable or Tenant or its stockholders or Board of Directors or any committee thereof takes any action in which case this Lease shall terminate and Tenant shall surrender possession to Landlord; (b) enter and take possession contemplation, preparation or furtherance of or for any of the Premisesforegoing, or, if Tenant or any Guarantor is a corporation and is dissolved or liquidated, Then, and remove Tenantin any such event, with or without having terminated the Lease; or (c) alter locks and other security devices at the Premises, as permitted by law.
15.3. If Landlord terminates this Lease or ends Tenant’s right to possess the Premises due to a Default, Landlord may hold Tenant liable for Rent, and other indebtedness accrued to the date the Lease ends. Tenant shall also be liable for the Rent and other indebtedness that otherwise would have been payable by Tenant during the remainder sole option of the Term had there been no Default, reduced by any sums Landlord receives by reletting the Premises during the Term or by taking other mitigation measures.
15.4. All rights and remedies of Landlord set forth in this Lease are cumulative and in addition to all other rights and remedies available to Landlord at law or in equity, including those available as a result of any anticipatory breach of this Lease. The exercise by Landlord of any such right or remedy shall not prevent the concurrent or subsequent exercise of any other right or remedy. No delay or failure by Landlord or Tenant to exercise or enforce any of its respective rights or remedies or the other party’s obligations (except to the extent a time period is specified in this Lease therefor) shall constitute a waiver of any such or subsequent rights, remedies or obligations. Neither party shall be deemed to have waived any default by the other party unless such waiver expressly is set forth in a written instrument signed by the party against whom such waiver is asserted. If Landlord waives in writing any default by Tenant, such waiver shall not be construed as a waiver of any covenant, condition or agreement set forth in this Lease except as to the specific circumstances described in such written waiverLandlord,
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Defaults by Tenant; Remedies. 15.1. Each of the following constitutes a default (“Default”): (a) Tenant’s failure to make when due any payment of the Base Rent, additional rent or other sum, which failure shall continue for a period of three five (35) days after Landlord sends Tenant written notice thereof; (b) Tenant’s failure to perform or observe any other covenant or condition of this Lease, which failure shall continue for a period of ten thirty (1030) days after Landlord sends Tenant written notice thereof, provided, however, that if the continuance of failure to perform or observe for the period required for cure will not (i) subject Landlord or any mortgagee to prosecution for a crime or any other fine or charge, (ii) subject the Premises or any part thereof or the Property or any part thereof, to being condemned or vacated, (iii) subject the Building or Property, or any part thereof, to any lien or encumbrance which is not removed or bonded within the time period required under this Lease, or (iv) result in the foreclosure of any mortgage, and such shorter the cure for which cannot reasonably be effected within such thirty (30) day period, and Tenant begins such cure promptly within such thirty (30) day period and is pursuing such cure in good faith and with diligence and continuity during such thirty (30) day period, then, except in the event of an emergency, Tenant shall have such additional time (not to exceed ninety (90) days in total) as is appropriate if reasonably necessary to effect such failure is capable of being cured sooner)cure; (c) Tenant’s failure to take occupancy bankruptcy which is not discharged within thirty (30) days of or occupy continuously the Premises; (d) an bankruptcyfiling; or (ed) Tenant’s failure to pay any sum or perform or observe any covenant or condition of this Lease when required under this Lease (without regard to any grace period otherwise allowed) more than twice during any twelve month period during the Term.
15.2. In addition to any other remedies available at law or equity, if a Default remains uncureduncured after the applicable notice and cure period provided in Section 15.1, Landlord may, upon ten five (105) days’ prior written notice to Tenant, Tenant pursue any of the following: (a) terminate Tenant’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall surrender possession to Landlord; (b) enter and take possession of the Premises, and remove Tenant, with or without having terminated the Lease; or (c) alter locks and other security devices at the Premises, as permitted by applicable law.
15.3. If Landlord terminates this Lease or ends TenantXxxxxx’s right to possess the Premises due to a Default, Landlord may hold Tenant liable for Rent, and other indebtedness accrued to the date the Lease endsExpiration Date. Tenant shall also be liable for the Rent and other indebtedness that otherwise would have been payable by Tenant during the remainder of the Term had there been no Default, reduced by any sums Landlord receives by reletting the Premises during the Term or by taking other mitigation measures. If Tenant is in Default and has vacated the Premises, and if Landlord has terminated this Lease as a result of such Default, then Landlord shall thereafter use reasonable efforts to relet the Premises; provided, however, that Tenant understands and agrees that Landlord’s main priority will be the leasing of other space in the Building and the reletting of the Premises will be of lower priority.
15.4. All rights and remedies of Landlord set forth in this Lease are cumulative and in addition to all other rights and remedies available to Landlord at law or in equity, including those available as a result of any anticipatory breach of this Lease. The exercise by Landlord of any such right or remedy shall not prevent the concurrent or subsequent exercise of any other right or remedy. No delay or failure by Landlord or Tenant to exercise or enforce any of its respective rights or remedies or the other party’s obligations (except to the extent a time period is specified in this Lease therefor) shall constitute a waiver of any such or subsequent rights, remedies or obligations. Neither party shall be deemed to have waived any default by the other party unless such waiver expressly is set forth in a written instrument signed by the party against whom such waiver is asserted. If Landlord waives in writing any default by TenantXxxxxx, such waiver shall not be construed as a waiver of any covenant, condition or agreement set forth in this Lease except as to the specific circumstances described in such written waiver.
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