Effect of Breach. (a) STATION reserves the right to terminate this contract upon default by AGENCY or ADVERTISER in the payment of bills or other material breach of the terms hereof at any time upon one day’s notice. Upon such termination all charges for advertising completed hereunder and not paid shall become immediately due and payable. If STATION terminates by reason of AGENCY’s or ADVERTISER’s material breach, AGENCY’s or ADVERTISER’s liability shall be to pay not only for advertising completed hereunder prior to termination by STATION but for advertising to be completed thereafter under the contract, less only the STATION’s actual cost savings realized on account of termination (such as fees to live talent that are cancellable at the time of termination of the contract). (b) In the event of material breach by STATION in performing this contract, AGENCY or ADVERTISER reserves the right to terminate this contract at any time upon one (1) day’s prior notice. In no event shall STATION be liable or responsible for any incidental, special, consequential or punitive damages (including without limitation, lost profits, promotional costs or costs of other media) relating to the performance or breach of this Agreement whether arising in contract, tort or otherwise. STATION’s total liability to AGENCY and/or ADVERTISER for any breach of or failure to perform this Agreement shall be limited to a refund of any amounts paid to STATION under this Agreement regardless of whether such liability arises in contract, tort or otherwise. (c) In case suit or action is instituted by STATION for the collection of any money owing hereunder or for enforcement of any of STATION’s rights hereunder, AGENCY and/or ADVERTISER agrees to pay all costs and disbursements of said suit or action together with reasonable attorney’s fees.
Appears in 3 contracts
Samples: Advertising Agreement, Advertising Agreement, Advertising Agreement
Effect of Breach. a. In the event of a breach of this Lease as set forth in Section 26, Landlord shall have the option to do any of the following in addition to and not in limitation of any other remedy permitted by law or by this Lease: (ai) STATION reserves to re-enter the Premises, using force if necessary, to dispossess Tenant and all other occupants from the Premises and to remove any or all of Tenant's property at the Premises, (ii) to store Tenant's property in a public warehouse or elsewhere at the cost, risk, and expense of Tenant, without Landlord's being deemed guilty of trespass or becoming liable for any loss or damage which may occur on Tenant's property, and (iii) upon ten (10) days' written notice to Tenant, which the parties agree is commercially reasonable, to sell at public or private sale any or all of said property, whether exempt or not from sale under execution or attachment (such property being deemed charged with a lien in favor of Landlord for all sums due hereunder), with the proceeds of sale to be applied: first, to the reasonable costs and expenses of retaking, removal, storage, preparing for sale, and sale of the property (including reasonable attorney's fees); and second, to the payment of any sums due hereunder to Landlord (including Rent, charges, and damages, both theretofore and thereafter accruing); and, third, any surplus to Tenant.
b. Further, upon the occurrence of any such breach, Landlord, in addition to any other remedies it may have at law, in equity, or under any other provision of this Lease, shall have the right to terminate this contract upon default Lease, as well as all right, title, and interest of Tenant hereunder, by AGENCY or ADVERTISER giving to Tenant not less than five (5) days' advance written notice of Landlord's election to cancel and to terminate this Lease. Upon the expiration of the time fixed in the payment notice of bills or other material breach termination, this Lease and the balance of the terms hereof at Term then remaining, as well as all of the right, title, and interest of Tenant under this Lease, shall expire in the same manner and with the same force and effect (except for the Tenant's liability as hereinafter set forth) as if the expiration of the time fixed in the notice of termination was the date upon which the Term would normally have expired. Tenant shall then immediately quit and surrender the Premises and each and every part thereof to Landlord, and Landlord may enter upon the Premises, by force, summary proceedings, or otherwise. In any time upon one day’s noticeof such events, Landlord shall be entitled to the benefit of all provisions of the ordinances and public local laws of the city or county where the Property is located and of the Public General Laws of the State of Maryland dealing with the speedy recovery of lands and tenements held over by tenants or proceedings in forcible entry and detainer. Upon such any entry or re-entry by Landlord, with or without legal process, Landlord shall also have the right (but not the obligation) to relet all or any part of the Premises, from time to time, at the risk and expense of Tenant. No re-entry by Landlord with or without a declaration of termination all charges shall be deemed to be an acceptance or a surrender of this Lease or as a release of the Tenant's liability for advertising completed hereunder and not paid shall become immediately due and payable. If STATION terminates damages under the provisions of this Section.
c. Tenant further agrees (i) notwithstanding re-entry by Landlord with or without termination pursuant to the provisions of Section 27a, r (ii) if this Lease is otherwise terminated by reason of AGENCY’s Tenant's default, or ADVERTISER’s material breach(iii) if Landlord retakes possession with or without process of law and/or re-enters with or without a declaration of termination, AGENCY’s or ADVERTISER’s liability (iv) if Landlord, following any of the foregoing events, elects to let or relet the Premises (whether once or more than once during the remainder of the Term, and upon such conditions as are satisfactory to Landlord) that Tenant shall, nevertheless, in each instance, remain liable for the performance of any covenant of this Lease then in default and for all Rent and all other charges and damages which may be due or sustained before and after the date of default, together with the cost of seizure and repossession of the Premises and reasonable attorneys' fees incurred by Landlord as a result of the breach of this Lease.
d. In any of the events described in the preceding Subsection, Tenant agrees that it will remain liable to Landlord for liquidated damages and shall be pay at the sole election of Landlord either:
(1) on demand an amount of money equal to pay not only for advertising completed hereunder prior to termination by STATION but for advertising to be completed thereafter under the contract, less only net present value of the STATION’s actual cost savings realized on account amount of termination (such as fees to live talent that are cancellable Rent which would have become payable during the unexpired portion of the Term hereof remaining at the time of re-entry, repossession, or termination of presuming the contract).Additional Rent to be the same as was payable for the year immediately preceding such termination discounted at the rate equal to the then Prime Rate announced by Mercantile SafeDeposit and Trust Company in Baltimore, Maryland or any successor bank; or
(b2) In sums equal to the event Annual Rent and Additional Rent (as above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the Premises, payable monthly, in advance, but otherwise upon the terms therefor specified herein following such termination or such re-entry and until the expiration date, provided, however, that if Landlord shall relet the Premises or any portion or portions thereof during said period, Landlord shall credit Tenant with the net rents received by Landlord from such reletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such reletting expenses incurred or paid by Landlord in terminating the Lease or in re-entering the Premises and in securing possession thereof, as well as the expenses of material breach by STATION reletting, including altering and preparing the Premises or any portion or portions thereof for new tenants, brokers' commissions, advertising expenses, reasonable attorneys' fees, and all other expenses properly chargeable against the Premises and the rental therefrom; it being understood that any such reletting may be for a period shorter or longer than the remaining term of this Lease, but in performing this contract, AGENCY or ADVERTISER reserves the right to terminate this contract at any time upon one (1) day’s prior notice. In no event shall STATION Tenant be liable or responsible for entitled to receive any incidentalexcess of such net rents over the sums payable by Tenant to Landlord hereunder, special, consequential or punitive damages (including without limitation, lost profits, promotional costs or costs of other media) relating to the performance or breach of this Agreement whether arising nor shall Tenant be entitled in contract, tort or otherwise. STATION’s total liability to AGENCY and/or ADVERTISER for any breach of or failure to perform this Agreement shall be limited to a refund of any amounts paid to STATION under this Agreement regardless of whether such liability arises in contract, tort or otherwise.
(c) In case suit or action is instituted by STATION for the collection of damages pursuant to this Subsection to a credit in respect of any money owing hereunder net rents from a reletting, except to the extent that such net rents are actually received by Landlord. If the Premises or any part thereof should be relet in combination with other space, then proper apportionment shall be made of the rent received from such reletting and of the expenses of reletting, and Landlord shall have the right to grant rent concessions to attract one or more new tenants and to permit the term of any new lease covering part or all of the Premises to be for a shorter or longer period than provided for herein. In the event Landlord elects to collect damages from Tenant under this Lease at any time subsequent to such election and upon ten (10) days prior written notice to Tenant, Landlord may elect to collect a lump sum under Section 27.d(1) above, crediting Tenant with amounts theretofore received by Landlord as damages. Landlord shall have no obligation to relet part or all of the Premises subsequent to termination of the Lease and upon Tenant's default.
e. Suit or suits for the recovery of such deficiency or damages or for enforcement a sum equal to any Monthly Installment or Installments of Annual Rent and Additional Rent and other charges payable hereunder may be brought by Landlord from time to time, at Landlord's election. Nothing herein contained shall be deemed to require Landlord to await the date when this Lease or the Term would have normally expired had there been no such default by Tenant or no such termination by Landlord, nor shall Landlord be barred by any claim involving a statute of STATION’s rights hereunderlimitations or other defense should Landlord delay in filing suit.
f. Nothing in this Section shall limit or prejudice the right of Landlord to prove and to obtain, AGENCY and/or ADVERTISER as liquidated damages by reason of a termination arising out of the provisions of this Section, an amount equal to the maximum allowed by any statute or rule of law in effect as of the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to, or less than the amount of liquidated damages computed under this Section.
g. Notwithstanding anything to the contrary contained in this Section, in the event of a breach of this Lease by Tenant, Landlord agrees to pay all costs and disbursements of said suit or action together with use commercially reasonable attorney’s feesefforts to mitigate its damages.
Appears in 2 contracts
Samples: Lease Agreement (Carrollton Bancorp), Lease Agreement (Carrollton Bancorp)
Effect of Breach. a. In the event of a breach of this Lease as set forth in Section 26, Landlord shall have the option to do any of the following in addition to and not in limitation of any other remedy permitted by law or by this Lease: (ai) STATION reserves to re-enter the Premises, using force if necessary, to dispossess Tenant and all other occupants from the Premises and to remove any or all of Tenant's property at the Premises, (ii) to store Tenant's property in a public warehouse or elsewhere at the cost, risk, and expense of Tenant, without Landlord's being deemed guilty of trespass or becoming liable for any loss or damage which may occur on Tenant's property, and (iii) upon ten (10) days' written notice to Tenant, which the parties agree is commercially reasonable, to sell at public or private sale any or all of said property, whether exempt or not from sale under execution or attachment (such property being deemed charged with a lien in favor of Landlord for all sums due hereunder), with the proceeds of sale to be applied: first, to the reasonable costs and expenses of retaking, removal, storage, preparing for sale, and sale of the property (including reasonable attorney's fees); and second, to the payment of any sums due hereunder to Landlord (including Rent, charges, and damages, both theretofore and thereafter accruing); and, third, any surplus to Tenant.
b. Further, upon the occurrence of any such breach, Landlord, in addition to any other remedies it may have at law, in equity, or under any other provision of this Lease, shall have the right to terminate this contract upon default Lease, as well as all right, title, and interest of Tenant hereunder, by AGENCY or ADVERTISER giving to Tenant not less than five (5) days' advance written notice of Landlord's election to cancel and to terminate this Lease. Upon the expiration of the time fixed in the payment notice of bills or other material breach termination, this Lease and the balance of the terms hereof at Term then remaining, as well as all of the right, title, and interest of Tenant under this Lease, shall expire in the same manner and with the same force and effect (except for the Tenant's liability as hereinafter set forth) as if the expiration of the time fixed in the notice of termination was the date upon which the Term would normally have expired. Tenant shall then immediately quit and surrender the Premises and each and every part thereof to Landlord, and Landlord may enter upon the Premises, by force, summary proceedings, or otherwise. In any time upon one day’s noticeof such events, Landlord shall be entitled to the benefit of all provisions of the ordinances and public local laws of the city or county where the Property is located and of the Public General Laws of the State of Maryland dealing with the speedy recovery of lands and tenements held over by tenants or proceedings in forcible entry and detainer. Upon such any entry or re-entry by Landlord, with or without legal process, Landlord shall also have the right (but not the obligation) to relet all or any part of the Premises, from time to time, at the risk and expense of Tenant. No re-entry by Landlord with or without a declaration of termination all charges shall be deemed to be an acceptance or a surrender of this Lease or as a release of the Tenant's liability for advertising completed hereunder and not paid shall become immediately due and payable. If STATION terminates damages under the provisions of this Section.
c. Tenant further agrees (i) notwithstanding re-entry by Landlord with or without termination pursuant to the provisions of Section 27a, (ii) if this Lease is otherwise terminated by reason of AGENCY’s Tenant's default, or ADVERTISER’s material breach(iii) if Landlord retakes possession with or without process of law and/or re-enters with or without a declaration of termination, AGENCY’s or ADVERTISER’s liability (iv) if Landlord, following any of the foregoing events, elects to let or relet the Premises (whether once or more than once during the remainder of the Term, and upon such conditions as are satisfactory to Landlord) that Tenant shall, nevertheless, in each instance, remain liable for the performance of any covenant of this Lease then in default and for all Rent and all other charges and damages which may be due or sustained before and after the date of default, together with the cost of seizure and repossession of the Premises and reasonable attorneys' fees incurred by Landlord as a result of the breach of this Lease. In any event the tenant's customer's right to privacy will not be violated by Landlord.
d. In any of the events described in the preceding Subsection, Tenant agrees that it will remain liable to Landlord for liquidated damages and shall be pay at the sole election of Landlord either:
(1) on demand an amount of money equal to pay not only for advertising completed hereunder prior to termination by STATION but for advertising to be completed thereafter under the contract, less only net present value of the STATION’s actual cost savings realized on account amount of termination (such as fees to live talent that are cancellable Rent which would have become payable during the unexpired portion of the Term hereof remaining at the time of re-entry, repossession, or termination of presuming the contract).Additional Rent to be the same as was payable for the year immediately preceding such termination discounted at the rate equal to the then Prime Rate announced by Mercantile Safe-Deposit and Trust Company in Baltimore, Maryland or any successor bank; or
(b2) In sums equal to the event Annual Rent and Additional Rent (as above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the Premises, payable monthly, in advance, but otherwise upon the terms therefor specified herein following such termination or such re-entry and until the expiration date, provided, however, that if Landlord shall relet the Premises or any portion or portions thereof during said period, Landlord shall credit Tenant with the net rents received by Landlord from such reletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such reletting expenses incurred or paid by Landlord in terminating the Lease or in re-entering the Premises and in securing possession thereof, as well as the expenses of material breach by STATION reletting, including altering and preparing the Premises or any portion or portions thereof for new tenants, brokers' commissions, advertising expenses, reasonable attorneys' fees, and all other expenses properly chargeable against the Premises and the rental therefrom; it being understood that any such reletting may be for a period shorter or longer than the remaining term of this Lease, but in performing this contract, AGENCY or ADVERTISER reserves the right to terminate this contract at any time upon one (1) day’s prior notice. In no event shall STATION Tenant be liable or responsible for entitled to-receive any incidentalexcess of such net rents over the sums payable by Tenant to Landlord hereunder, special, consequential or punitive damages (including without limitation, lost profits, promotional costs or costs of other media) relating to the performance or breach of this Agreement whether arising nor shall Tenant be entitled in contract, tort or otherwise. STATION’s total liability to AGENCY and/or ADVERTISER for any breach of or failure to perform this Agreement shall be limited to a refund of any amounts paid to STATION under this Agreement regardless of whether such liability arises in contract, tort or otherwise.
(c) In case suit or action is instituted by STATION for the collection of damages pursuant to this Subsection to a credit in respect of any money owing hereunder net rents from a reletting, except to the extent that such net rents are actually received by Landlord. If the Premises or any part thereof should be relet in combination with other space, then proper apportionment shall be made of the rent received from such reletting and of the expenses of reletting, and Landlord shall have the right to grant rent concessions to attract one or more new tenants and to permit the term of any new lease covering part or all of the Premises to be for a shorter or longer period than provided for herein. In the event Landlord elects to collect damages from Tenant under this Lease at any time subsequent to such election and upon ten (10) days prior written notice to Tenant, Landlord may elect to collect a lump sum under Section 27.d(1) above, crediting Tenant with amounts theretofore received by Landlord as damages. Landlord shall have no obligation to relet part or all of the Premises subsequent to termination of the Lease and upon Tenant's default.
e. Suit or suits for the recovery of such deficiency or damages or for enforcement a sum equal to any Monthly Installment or Installments of Annual Rent and Additional Rent and other charges payable hereunder may be brought by Landlord from time to time, at Landlord's election. Nothing herein contained shall be deemed to require Landlord to await the date when this Lease or the Term would have normally expired had there been no such default by Tenant or no such termination by Landlord, nor shall Landlord be barred by any claim involving a statute of STATION’s rights hereunderlimitations or other defense should Landlord delay in filing suit.
f. Nothing in this Section shall limit or prejudice the right of Landlord to prove and to obtain, AGENCY and/or ADVERTISER as liquidated damages by reason of a termination arising out of the provisions of this Section, an amount equal to the maximum allowed by any statute or rule of law in effect as of the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to, or less than the amount of liquidated damages computed under this Section.
g. Notwithstanding anything to the contrary contained in this Section, in the event of a breach of this Lease by Tenant, Landlord agrees to pay all costs and disbursements of said suit or action together with use commercially reasonable attorney’s feesefforts to mitigate its damages.
Appears in 2 contracts
Samples: Lease Agreement (Carrollton Bancorp), Lease Agreement (Carrollton Bancorp)
Effect of Breach. a. In the event of a breach of this Lease as set forth in Section 26, Landlord shall have the option to do any of the following in addition to and not in limitation of any other remedy permitted by law or by this Lease: (ai) STATION reserves to re-enter the Premises, using force if necessary, to dispossess Tenant and all other occupants from the Premises and to remove any or all of Tenant's property at the Premises, (ii) to store Tenant's property in a public warehouse or elsewhere at the cost, risk, and expense of Tenant, without Landlord's being deemed guilty of trespass or becoming liable for any loss or damage which may occur on Tenant's property, and (iii) upon ten (10) days' written notice to Tenant, which the parties agree is commercially reasonable, to sell at public or private sale any or all of said property, whether exempt or not from sale under execution or attachment (such property being deemed charged with a lien in favor of Landlord for all sums due hereunder), with the proceeds of sale to be applied: first, to the reasonable costs and expenses of retaking, removal, storage, preparing for sale, and sale of the property (including reasonable attorney's fees); and second, to the payment of any sums due hereunder to Landlord (including Rent, charges, and damages, both theretofore and thereafter accruing); and, third, any surplus to Tenant.
b. Further, upon the occurrence of any such breach, Landlord, in addition to any other remedies it may have at law, in equity, or under any other provision of this Lease, shall have the right to terminate this contract upon default Lease, as well as all right, title, and interest of Tenant hereunder, by AGENCY or ADVERTISER giving to Tenant not less than five (5) days' advance written notice of Landlord's election to cancel and to terminate this Lease. Upon the expiration of the time fixed in the payment notice of bills or other material breach termination, this Lease and the balance of the terms hereof at Term then remaining, as well as all of the right, title, and interest of Tenant under this Lease, shall expire in the same manner and with the same force and effect (except for the Tenant's liability as hereinafter set forth) as if the expiration of the time fixed in the notice of termination was the date upon which the Term would normally have expired. Tenant shall then immediately quit and surrender the Premises and each and every part thereof to Landlord, and Landlord may enter upon the Premises, by force, summary proceedings, or otherwise. In any time upon one day’s noticeof such events, Landlord shall be entitled to the benefit of all provisions of the ordinances and public local laws of the city or county where the Property is located and of the Public General Laws of the State of Maryland dealing with the speedy recovery of lands and tenements held over by tenants or proceedings in forcible entry and detainer. Upon such any entry or re-entry by Landlord, with or without legal process, Landlord shall also have the right (but not the obligation) to relet all or any part of the Premises, from time to time, at the risk and expense of Tenant. No re-entry by Landlord with or without a declaration of termination all charges shall be deemed to be an acceptance or a surrender of this Lease or as a release of the Tenant's liability for advertising completed hereunder and not paid shall become immediately due and payable. If STATION terminates damages under the provisions of this Section.
c. Tenant further agrees (i) notwithstanding re-entry by Landlord with or without termination pursuant to the provisions of Section 27a, r (ii) if this Lease is otherwise terminated by reason of AGENCY’s Tenant's default, or ADVERTISER’s material breach(iii) if Landlord retakes possession with or without process of law and/or re-enters with or without a declaration of termination, AGENCY’s or ADVERTISER’s liability (iv) if Landlord, following any of the foregoing events, elects to let or relet the Premises (whether once or more than once during the remainder of the Term, and upon such conditions as are satisfactory to Landlord) that Tenant shall, nevertheless, in each instance, remain liable for the performance of any covenant of this Lease then in default and for all Rent and all other charges and damages which may be due or sustained before and after the date of default, together with the cost of seizure and repossession of the Premises and reasonable attorneys' fees incurred by Landlord as a result of the breach of this Lease. In any event, the Tenant's customers right to privacy will not be violated by Landlord.
d. In any of the events described in the preceding Subsection, Tenant agrees that it will remain liable to Landlord for liquidated damages and shall be pay at the sole election of Landlord either:
(1) on demand an amount of money equal to pay not only for advertising completed hereunder prior to termination by STATION but for advertising to be completed thereafter under the contract, less only net present value of the STATION’s actual cost savings realized on account amount of termination (such as fees to live talent that are cancellable Rent which would have become payable during the unexpired portion of the Term hereof remaining at the time of re-entry, repossession, or termination of presuming the contract).Additional Rent to be the same as was payable for the year immediately preceding such termination discounted at the rate equal to the then Prime Rate announced by Mercantile Safe-Deposit and Trust Company in Baltimore, Maryland or any successor bank; or
(b2) In sums equal to the event Annual Rent and Additional Rent (as above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the Premises, payable monthly, in advance, but otherwise upon the terms therefor specified herein following such termination or such re-entry and until the expiration date, provided, however, that if Landlord shall relet the Premises or any portion or portions thereof during said period, Landlord shall credit Tenant with the net rents received by Landlord from such reletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such reletting expenses incurred or paid by Landlord in terminating the Lease or in re-entering the Premises and in securing possession thereof, as well as the expenses of material breach by STATION reletting, including altering and preparing the Premises or any portion or portions thereof for new tenants, brokers' commissions, advertising expenses, reasonable attorneys' fees, and all other expenses properly chargeable against the Premises and the rental therefrom; it being understood that any such reletting may be for a period shorter or longer than the remaining term of this Lease, but in performing this contract, AGENCY or ADVERTISER reserves the right to terminate this contract at any time upon one (1) day’s prior notice. In no event shall STATION Tenant be liable or responsible for entitled to receive any incidentalexcess of such net rents over the sums payable by Tenant to Landlord hereunder, special, consequential or punitive damages (including without limitation, lost profits, promotional costs or costs of other media) relating to the performance or breach of this Agreement whether arising nor shall Tenant be entitled in contract, tort or otherwise. STATION’s total liability to AGENCY and/or ADVERTISER for any breach of or failure to perform this Agreement shall be limited to a refund of any amounts paid to STATION under this Agreement regardless of whether such liability arises in contract, tort or otherwise.
(c) In case suit or action is instituted by STATION for the collection of damages pursuant to this Subsection to a credit in respect of any money owing hereunder net rents from a reletting, except to the extent that such net rents are actually received by Landlord. If the Premises or any part thereof should be relet in combination with other space, then proper apportionment shall be made of the rent received from such reletting and of the expenses of reletting, and Landlord shall have the right to grant rent concessions to attract one or more new tenants and to permit the term of any new lease covering part or all of the Premises to be for a shorter or longer period than provided for herein. In the event Landlord elects to collect damages from Tenant under this Lease at any time subsequent to such election and upon ten (10) days prior written notice to Tenant, Landlord may elect to collect a lump sum under Section 27.d(1) above, crediting Tenant with amounts theretofore received by Landlord as damages. Landlord shall have no obligation to relet part or all of the Premises subsequent to termination of the Lease and upon Tenant's default.
e. Suit or suits for the recovery of such deficiency or damages or for enforcement a sum equal to any Monthly Installment or Installments of Annual Rent and Additional Rent and other charges payable hereunder may be brought by Landlord from time to time, at Landlord's election. Nothing herein contained shall be deemed to require Landlord to await the date when this Lease or the Term would have normally expired had there been no such default by Tenant or no such termination by Landlord, nor shall Landlord be barred by any claim involving a statute of STATION’s rights hereunderlimitations or other defense should Landlord delay in filing suit.
f. Nothing in this Section shall limit or prejudice the right of Landlord to prove and to obtain, AGENCY and/or ADVERTISER as liquidated damages by reason of a termination arising out of the provisions of this Section, an amount equal to the maximum allowed by any statute or rule of law in effect as of the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to, or less than the amount of liquidated damages computed under this Section.
g. Notwithstanding anything to the contrary contained in this Section, in the event of a breach of this Lease by Tenant, Landlord agrees to pay all costs and disbursements of said suit or action together with use commercially reasonable attorney’s feesefforts to mitigate its damages.
Appears in 2 contracts
Samples: Commercial Lease (Carrollton Bancorp), Commercial Lease (Carrollton Bancorp)
Effect of Breach. The rights of Licensee under this Agreement are dependent and conditional upon the due and faithful performance by Licensee of each of the terms and conditions herein contained, all of which are hereby agreed upon as being material to, and of the essence of, this Agreement. Upon the occurrence of any Licensee Event of Default (adefined below), and provided that Licensee has failed to cure the Licensee Event of Default, if it is curable, within thirty (30) STATION reserves days of receipt of written notice thereof, then all rights granted hereunder to Licensee shall terminate and revert to Licensor, but without prejudice to and in addition to any and all rights to compensation or damage or to any cause of action which Licensor may have against Licensee, and Licensor shall have the right to terminate this contract upon default by AGENCY keep and retain absolutely any payments theretofore made to Licensor, or ADVERTISER in the payment of bills or other material breach of the terms hereof at any time upon one day’s notice. Upon such termination all charges for advertising completed hereunder and not paid shall become immediately due and payable. If STATION terminates by reason of AGENCY’s or ADVERTISER’s material breach, AGENCY’s or ADVERTISER’s liability shall be to pay not only for advertising completed hereunder prior to termination by STATION but for advertising to be completed thereafter under the contract, less only the STATION’s actual cost savings realized on account of termination (such as fees to live talent that are cancellable at any claims Licensor may then have or thereafter have against Licensee. "Licensee Event of Default" shall mean the time occurrence of termination any of the contract).
following: (bA) In the event Licensee (i) fails to timely perform or breaches any of material breach by STATION in performing its obligations hereunder, breaches any representation or warranty hereunder or otherwise breaches this contract, AGENCY or ADVERTISER reserves the right Agreement; (ii) fails to terminate this contract at any time upon one (1) day’s prior notice. In no event shall STATION be liable or responsible for any incidental, special, consequential or punitive damages (including without limitation, lost profits, promotional costs or costs make timely payment of other media) relating to the performance or breach of this Agreement whether arising in contract, tort or otherwise. STATION’s total liability to AGENCY and/or ADVERTISER for any breach of or failure to perform this Agreement shall be limited to a refund of any amounts paid to STATION fees under this Agreement regardless or any other agreement between Licensor and Licensee; or (iii) assigns or otherwise transfers this Agreement in violation of whether such liability arises in contract, tort this Agreement; or otherwise.
(cB) In case suit upon (i) Licensee becoming unable to pay its debts; (ii) a petition being presented or action is instituted by STATION a meeting being convened for the collection purpose of considering a resolution for the making of an administration order, the winding-up, bankruptcy or dissolution of Licensee; (iii) Licensee becoming insolvent; (iv) a petition under any bankruptcy or analogous act being filed by or against Licensee (which petition, if filed against Licensee, shall not have been dismissed by the relevant authority within thirty (30) days thereafter); (v) Licensee executing an assignment for the benefit of creditors; (vi) a receiver being appointed for the assets of Licensee; (vii) Licensee taking advantage of any money owing hereunder applicable bankruptcy, insolvency or for enforcement reorganization or any other like statute; or (viii) the occurrence of any event analogous to the foregoing; or (C) if Licensor, in its reasonable discretion, determines that Licensee’s financial condition has deteriorated so as to materially threaten its full and timely performance or observance of STATION’s rights hereunder, AGENCY and/or ADVERTISER agrees to pay all costs its duties and disbursements of said suit or action together with reasonable attorney’s feesobligations under this Agreement.
Appears in 1 contract
Samples: Non Theatrical License Agreement
Effect of Breach. (a) STATION reserves the right to terminate this contract upon default by AGENCY or ADVERTISER in the payment of bills or other material breach of the terms hereof at any time upon one day’s notice. Upon such termination all charges for advertising completed hereunder and not paid shall become immediately due and payable. If STATION terminates by reason of AGENCY’s or ADVERTISER’s material breach, AGENCY’s or ADVERTISER’s liability shall be to pay not only for advertising completed hereunder prior to termination by STATION but for advertising to be completed thereafter under the contract, less only the STATION’s actual cost savings realized on account of termination (such as fees to live talent that are cancellable cancelable at the time of termination of the contract).
(b) In the event of material breach by STATION in performing this contract, AGENCY or ADVERTISER reserves the right to terminate this contract at any time upon one (1) day’s prior notice. In no event shall STATION be liable or responsible for any incidental, special, consequential or punitive damages (including without limitation, lost profits, promotional costs or costs of other media) relating to the performance or breach of this Agreement whether arising in contract, tort or otherwise. STATION’s total liability to AGENCY and/or ADVERTISER for any breach of or failure to perform this Agreement shall be limited to a refund of any amounts paid to STATION under this Agreement regardless of whether such liability arises in contract, tort or otherwise.
(c) In case suit or action is instituted by STATION for the collection of any money owing hereunder or for enforcement of any of STATION’s rights hereunder, AGENCY and/or or ADVERTISER agrees to pay all costs and disbursements of said suit or action together with reasonable attorney’s fees.
Appears in 1 contract
Samples: Advertising Agreement
Effect of Breach. (a) STATION reserves If Tenant shall fail to pay any installment of rent or other monies due pursuant to this Lease promptly on the day when they shall become due and payable and shall continue in default for a period of fifteen (15) days after written Notice of Default by Landlord (provided Tenant shall not be entitled to such notice if Tenant has been given notice one (1) time within any twelve (12) month period), or if Tenant shall fail to promptly keep and perform in all material respects any other material affirmative covenants of this Lease strictly in accordance with the terms of this Lease and shall continue in default for a period of thirty (30) days after written Notice of Default by Landlord of default and demand for performance, then, as often as any such event shall occur, Landlord may: (i) re-enter the Premises, in a commercially reasonable manner, to dispossess Tenant and all other occupants from the Premises and to remove any or all of Tenant's property at the Premises; and (ii) to store Tenant's property in a public warehouse or elsewhere at the cost, risk, and expense of Tenant, without Landlord's being deemed guilty of trespass or becoming liable for any loss or damage that may occur on Tenant's property (iii) upon thirty (30) days' written notice to Tenant, which the parties agree is commercially reasonable, to sell at public or private sale any or all of said property, whether exempt or not from sale under execution or attachment (such property being deemed charged with a lien in favor of Landlord for all sums due hereunder), with the proceeds of sale to be applied: first, to the costs and expenses of retaking, removal, storage, preparing for sale, and sale of the property (including reasonable attorney's fees); and second, to the payment of any sum due hereunder to Landlord (including Rent, charges, and damages, both theretofore and thereafter accruing); and, third, any surplus to Tenant.
(b) Further, upon the occurrence of any such breach and after such opportunity to cure as set forth above, Landlord, in addition to any other remedies it may have at law, in equity, by statute, or under any other provision of this Lease, shall have the right to terminate this contract upon default Lease, as well as all right, title, and interest of Tenant hereunder, by AGENCY or ADVERTISER giving to Tenant not less than sixty (60) days' advance written notice of Landlord's election to cancel and to terminate this Lease. Upon the expiration of the time fixed in the payment notice of bills or other material breach termination, this Lease and the balance of the terms hereof at Term then remaining, as, well as all of the right, title, and interest of Tenant under this Lease, shall expire in the same manner and with the same force and effect (except for the Tenant's liability as hereinafter set forth) as if the expiration of the time fixed in the notice of termination was the date upon which the Term would normally have expired. Tenant shall then immediately quit and surrender the Premises and each and every part thereof to Landlord, and Landlord may enter upon the Premises, by force, summary proceedings, or otherwise. In any time upon one day’s noticeof such events, Landlord shall be entitled to the benefit of all provisions of the ordinances and public local laws of the city or county where the Premises is located and of the Laws of Iowa dealing with the speedy recovery of lands and tenements held over by tenants or proceedings in forcible entry and detainer. Upon such any entry or re-entry by Landlord, with or without legal process, Landlord shall also have the right (but not the obligation) to relet all or any part of the Premises, from time to time, at the risk and expense of Tenant. No re-entry by Landlord with or without a declaration of termination all charges shall be deemed to be an acceptance or a surrender of this Lease or as a release of the Tenant's liability for advertising completed hereunder and not paid shall become immediately due and payable. If STATION terminates damages under the provisions of this Section.
(c) Tenant further agrees (i) notwithstanding re-entry by Landlord with or without termination pursuant to the provisions of Subsection (a) of this Section, or (ii) if this Lease is otherwise terminated by reason of AGENCY’s Tenant's default, or ADVERTISER’s material breach(iii) if Landlord retakes possession with or without process of law and/or re-enters with or without a declaration of termination, AGENCY’s or ADVERTISER’s liability shall be to pay not only for advertising completed hereunder prior to termination by STATION but for advertising to be completed thereafter under the contract(iv) if 24 Landlord, less only the STATION’s actual cost savings realized on account of termination (such as fees to live talent that are cancellable at the time of termination following any of the contract)foregoing events, elects to let or relet the Premises (whether once or more than once during the remainder of the Term, and upon such conditioning as are satisfactory to Landlord) that Tenant shall, nevertheless, in each instance, remain liable for the performance of any covenant of this Lease then in default and for all Rent and all other charges and damages which may be due or sustained before and after the date of default less mitigated amounts, together with the cost of seizure and repossession of the Premises and reasonable attorney's fees incurred by Landlord as a result of the breach of this Lease.
(bd) In any of the event events described in the preceding subsection, Tenant agrees that it will remain liable to Landlord for liquidated damages to be calculated and paid, at Landlord's option, in either of material breach the following ways:
(i) the Rent that, but for the termination of this Lease, would have become due during the remainder of the Term, less the amount or amounts of Rent, if any, that Landlord shall receive during such period from others to whom the Premises may be rented net of all reasonable costs and expenses incurred by STATION Landlord in performing connection with Tenant's default, including, but not limited to, the cost to repair, restore, renovate, or decorate the Premises for a new tenant, reasonable attorney's fees, real estate commissions, the cost of any legal actions, in which case liquidated damages shall be computed and payable in monthly installments, in advance, on the first day of each calendar month following the termination of this contractLease and shall continue until the date on which the Term would have expired but for such termination; or
(ii) the Rent that, AGENCY or ADVERTISER reserves but for the right termination of this Lease, would have become due during the remainder of the Term, less the fair rental value of the Premises, as determined by an independent real estate appraiser selected by Landlord, in which case such liquidated damages shall be payable to terminate this contract Landlord in one lump sum on demand and shall bear interest at any time upon one (1) day’s prior noticethe interest rate of ten percent per annum, until paid. . In no event shall STATION Landlord be liable or responsible required to account to Tenant for any incidental, special, consequential or punitive damages (including without limitation, lost profits, promotional costs or costs amounts by which the fair rental value shall have exceeded the stipulated Rent at the time of other media) relating to the performance or breach of this Agreement whether arising in contract, tort or otherwise. STATION’s total liability to AGENCY and/or ADVERTISER for any breach of or failure to perform this Agreement shall be limited to a refund of any amounts paid to STATION under this Agreement regardless of whether such liability arises in contract, tort or otherwisetermination.
(ce) Suit or suits for the recovery of such deficiency or damages or for a sum equal to any Monthly Installment or Installments of Annual Rent and Additional Rent and other charges payable hereunder may be brought by Landlord from time to time, at Landlord's election. Nothing herein contained shall be deemed to require Landlord to await the date when this Lease or the Term would have normally expired had there been no such default by Tenant or no such termination by Landlord.
(f) In case suit connection with any reletting(s) of the Premises, Landlord shall have the absolute right, without such action's being or action is instituted by STATION being deemed to be a surrender of its rights or as a termination of this Lease or as a release of the Tenant's liability hereunder for the collection balance of the Term or Extension Term, to let or relet the Premises for a longer or shorter term than that remaining after Tenant's default, to lease more or less area than that contained in the Premises, to lease the Premises together with other premises or property owned or controlled by Landlord, and to change the character or use of the Premises.
(g) No entry or re-entry by Landlord, whether had or taken under summary proceedings or otherwise, nor any letting or reletting shall absolve or discharge Tenant from liability hereunder. Tenant's liability hereunder, even if there be no letting or reletting, shall survive the issuance of any money owing hereunder dispossess warrant, order of court terminating this Lease, or any other termination based upon Tenant's default. The words "enter," "re-enter," and "re-entry" as used in this Section and elsewhere in this Lease are not restricted to their technical legal meanings.
(h) No payment received by Landlord from Tenant after re-entry or the termination of this Lease in any lawful manner shall reinstate, continue, or extend the Term of this Lease or affect any notice theretofore given to Tenant by Landlord or operate as a waiver of the right of Landlord to recover possession of the Premises by proper suit, action, proceedings, or other remedy.
(i) In the event Tenant fails to vacate the Premises at any time after termination of this Lease as provided above, Tenant shall pay double Rent as Additional Rent for enforcement such holdover period.
(j) Nothing in this Section shall limit or prejudice the right of Landlord to prove and to obtain, as liquidated damages by reason of a termination arising out of the provisions of this Section, an amount equal to the maximum allowed by any statute or rule of STATION’s rights hereunderlaw in effect as of the time when, AGENCY and/or ADVERTISER agrees and governing the proceedings in which, such damages are to pay all costs and disbursements be proved, whether or not such amount be greater, equal to, or less than the amount of said suit or action together with reasonable attorney’s feesliquidated damages computed under this Section.
Appears in 1 contract
Samples: Lease (Amincor, Inc.)