Common use of Effect of Default Clause in Contracts

Effect of Default. In the event of Tenant's default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, and Landlord may collect such rents as Tenant's Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 above. A termination of the Lease due to Tenant's default shall not automatically terminate an assignment or sublease then in existence; rather at Landlord's election, such assignment or sublease shall survive the Lease termination, the assignee or subtenant shall attorn to Landlord, and Landlord shall undertake the obligations of Tenant under the sublease or assignment; except that Landlord shall not be liable for prepaid rent, security deposits or other defaults of Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's Agents.

Appears in 6 contracts

Samples: investor.verisign.com, Verisign Inc/Ca, Verisign Inc/Ca

AutoNDA by SimpleDocs

Effect of Default. In the event of Tenant's default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, and Landlord may collect such rents as Tenant's Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 above. A termination of if the Lease due to Tenant's default shall not automatically terminate an assignment or sublease then in existence; rather at Landlord's election, such assignment or sublease shall survive the Lease termination, the assignee or subtenant shall attorn to Landlord, and Landlord shall undertake the obligations of Tenant under the sublease or assignment; except that Landlord shall not be liable for prepaid rent, security deposits or other defaults of Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's Agents.

Appears in 5 contracts

Samples: Lease Agreement (Broadcom Corp), Lease Agreement (Broadcom Corp), Abgenix Inc

Effect of Default. In the event of Tenant's default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, and Landlord may collect such rents as Tenant's Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 above. A Lease termination of the Lease due to Tenant's default shall not automatically terminate an assignment or sublease then in existence; rather at Landlord's election, such assignment or sublease shall survive the Lease termination, the assignee or subtenant shall attorn to Landlord, and Landlord shall undertake the obligations of Tenant under the sublease or assignment; except that Landlord shall not be liable for prepaid rent, security deposits or other defaults of Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's Agents.

Appears in 2 contracts

Samples: Concentric Network Corp, Network Equipment Technologies Inc

Effect of Default. In the event of Tenant's ’s default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, and Landlord may collect such rents as Tenant's ’s Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 above. A termination of the Lease due to Tenant's ’s default shall not automatically terminate an assignment or sublease then in existence; rather at Landlord's ’s election, such assignment or sublease shall survive the Lease termination, the assignee or subtenant shall attorn to Landlord, and Landlord shall undertake the obligations of Tenant under the sublease or assignment; except that Landlord shall not be liable for prepaid rent, security deposits or other defaults of Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's ’s Agents.

Appears in 2 contracts

Samples: Assignment and Assumption of Lease, Assignment and Assumption of Lease (Equinix Inc)

Effect of Default. In the event of Tenant's default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, Lease and Landlord may collect such rents as Tenant's Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 paragraph 22 and 24 above. A The termination of the this Lease due to Tenant's default shall not automatically terminate an any assignment or sublease then in existence; rather at the election of Landlord's election, such assignment or sublease shall survive the termination of this Lease terminationand, upon such election, the assignee or subtenant shall attorn to Landlord, Landlord and Landlord shall undertake the obligations of the Tenant under the sublease or assignment; except that provided the Landlord shall not be liable for prepaid rent, security deposits or other defaults of the Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's Agents, its agents, employees, contractors or invitees.

Appears in 2 contracts

Samples: Common and Maintenance Agreement (Annuncio Software Inc), Diagnostic Retrieval Systems Inc

Effect of Default. In the event of Tenant's default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, Lease and Landlord may collect such rents as Tenant's Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 paragraph 22 and 24 above. A The termination of the this Lease due to Tenant's default shall not automatically terminate an any assignment or sublease then in existence; rather at the election of Landlord's election, such assignment or sublease shall survive the termination of this Lease terminationand, upon such election, the assignee or subtenant shall attorn to Landlord, Landlord and Landlord shall undertake the obligations of the Tenant under the sublease or assignment; except that Landlord provided the landlord shall not be liable for prepaid rent, security deposits or other defaults of the Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's Agents, its agents, employees, contractors or invitees.

Appears in 1 contract

Samples: Therma Wave Inc

Effect of Default. In the event of Tenant's default, Tenant hereby assigns all rents due from form any assignment or subletting to Landlord as security for performance of its obligations under this Lease, Lease and Landlord may collect such rents as Tenant's Attorneyattorney-in-Factfact, except that Tenant may collect such rents unless a default occurs as described in Section 13 such election Paragraph 22 above. A The termination of the this Lease due to Tenant's default shall not automatically terminate an any assignment or sublease then in existence; rather at Landlord's election, the election of Landlord such assignment or sublease shall survive the termination of this Lease terminationand, upon such election, the assignee or subtenant shall attorn to Landlord, Landlord and Landlord shall undertake the obligations of the Tenant under the sublease or assignment; except that provided the Landlord shall not be liable for prepaid rent, security deposits or other defaults of the Tenant to the subtenant or assignee, or for any acts or omissions of Tenant Tenant-, its agents, employees, contractors and Tenant's Agentsinvitees.

Appears in 1 contract

Samples: Lease Agreement (Integrated Telecom Express Inc/ Ca)

Effect of Default. In the event of Tenant's default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, Lease and Landlord may collect such rents as Tenant's Attorney-'s' attorney- in-Factfact, except that Tenant may collect such rents unless a default occurs as described in Section 13 Paragraph 21 above. A The termination of the this Lease due to Tenant's default shall not automatically terminate an any assignment or sublease then in existence; rather at Landlord's election, the election of Landlord such assignment or sublease shall survive the termination of this Lease terminationand, upon such election, the assignee or subtenant shall attorn to Landlord, Landlord and Landlord shall undertake the obligations of the Tenant under the sublease or assignment; except that provided the Landlord shall not be liable for prepaid rent, security deposits or other defaults of the Tenant to the subtenant or assignee, or for any acts or omissions omission s of Tenant Tenant, its agents, employees, contractors and Tenant's Agentsinvitees.

Appears in 1 contract

Samples: Lease Agreement (Packeteer Inc)

Effect of Default. In the event of Tenant's default, Tenant hereby assigns all rents Rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, and in the event of an Event of Default, Landlord may collect such rents as Tenant's ’s Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs rent so long as described in Section 13 aboveno Event of Default has occurred and is continuing. A Lease termination of the Lease due to Tenant's ’s default shall not automatically terminate an assignment or sublease then in existence; rather at Landlord's ’s election, such assignment or sublease shall survive the Lease termination, the assignee or subtenant shall attorn to Landlord, and Landlord shall undertake the obligations of Tenant under the sublease or assignment; except that Landlord shall not be liable for prepaid rent, security deposits or other defaults of Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's ’s Agents.

Appears in 1 contract

Samples: Office Lease Agreement (Hercules Technology Growth Capital Inc)

Effect of Default. In the event of Tenant's default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, and Landlord may collect such rents as Tenant's Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 aboveArticle 20 below. A Lease termination of the Lease due to Tenant's default shall not automatically terminate an assignment or sublease then in existence; rather at Landlord's election, such assignment or sublease shall survive the Lease termination, the assignee or subtenant shall attorn to Landlord, and Landlord shall undertake the obligations of Tenant under the sublease or assignment; except that Landlord shall not be liable for prepaid rent, security deposits or other defaults of Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's Agents.

Appears in 1 contract

Samples: Chicago Pizza & Brewery Inc

AutoNDA by SimpleDocs

Effect of Default. In the event of Tenant's default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, Lease and Landlord may collect such rents as TenantXxxxxx's Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 Article 22 and 24 above. A The termination of the this Lease due to Tenant's default shall not automatically terminate an any assignment or sublease then in existence; rather at the election of Landlord's election, such assignment or sublease shall survive the termination of this Lease terminationand, upon such election, the assignee or subtenant shall attorn to Landlord, Landlord and Landlord shall undertake the obligations of the Tenant under the sublease or assignment; except that provided the Landlord shall not be liable for prepaid rent, security deposits or other defaults of the Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's Agents, its agents, employees, contractors or invitees.

Appears in 1 contract

Samples: Terayon Communication Systems

Effect of Default. In the event of Tenant's ’s default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, and Landlord may collect such rents as Tenant's ’s Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 above. A Lease termination of the Lease due to Tenant's ’s default shall not automatically terminate an assignment or sublease then in existence; rather at Landlord's ’s election, such assignment or sublease shall survive the Lease termination, the assignee or subtenant shall attorn to Landlord, and Landlord shall undertake the obligations of Tenant under the sublease or assignment; except that Landlord shall not be liable for prepaid rent, security deposits or other defaults of Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's ’s Agents.

Appears in 1 contract

Samples: Commencement Agreement (Guidewire Software, Inc.)

Effect of Default. In the event of Tenant's ’s default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, and Landlord may collect such rents as Tenant's ’s Attorney-in-in- Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 above. A Lease termination of the Lease due to Tenant's ’s default shall not automatically terminate an assignment or sublease then in existence; rather at Landlord's ’s election, such assignment or sublease shall survive the Lease termination, the assignee or subtenant shall attorn to Landlord, and Landlord shall undertake the obligations of Tenant under the sublease or assignment; except that Landlord shall not be liable for prepaid rent, security deposits or other defaults of Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's ’s Agents.

Appears in 1 contract

Samples: Commencement Agreement (NeurogesX Inc)

Effect of Default. In the event of Tenant's ’s default, Tenant hereby assigns all rents Rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, and Landlord may collect such rents as Tenant's ’s Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 above. A Lease termination of the Lease due to Tenant's ’s default shall not automatically terminate an assignment or sublease then in existence; rather at Landlord's ’s election, such assignment or sublease shall survive the Lease termination, the assignee or subtenant shall attorn to Landlord, and Landlord shall undertake the obligations of Tenant under the sublease or assignment; except that Landlord shall not be liable for prepaid rent, security deposits or other defaults of Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant's ’s Agents.

Appears in 1 contract

Samples: Lease Agreement (Circle Bancorp)

Effect of Default. In the event of TenantXxxxxx's default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, Lease and Landlord may collect such rents as TenantXxxxxx's Attorneyattorney-in-Factfact, except that Tenant may collect such rents unless a default occurs as described in Section 13 such election paragraph 22 above. A The termination of the this Lease due to Tenant's default shall not automatically terminate an any assignment or sublease then in existence; rather at Landlord's election, the election of Landlord such assignment or sublease shall survive the termination of this Lease terminationand, upon such election, the assignee or subtenant shall attorn to Landlord, Landlord and Landlord shall undertake the obligations of the Tenant under the sublease or assignment; except that provided the Landlord shall not be liable for prepaid rent, security deposits or other defaults of the Tenant to the subtenant or assignee, or for any acts or omissions of Tenant Tenant, its agents, employees contractors and Tenant's Agentsinvitees.

Appears in 1 contract

Samples: Sublease Agreement (Actionpoint Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!