Common use of Expense Recovery Clause in Contracts

Expense Recovery. Items of expense for which Tenant shall be liable to Landlord for in connection with a termination of this Lease for default shall include: (i) all collection costs and all costs of obtaining Tenant’s compliance with this Lease, including attorneys’ fees and enforcement costs; (ii) the unamortized portion of (a) leasing commissions paid in connection with this Lease, and (b) costs incurred by Landlord to improve the Premises (amortized on a straight line basis over the initial Term with interest at the Prime Rate plus [***]% per annum); and (iii) all Landlord’s other costs proximately caused by the termination. The above sums shall be due and payable immediately upon notice from Landlord without regard to whether the cost or expense was incurred before or after the termination of this Lease. If proceedings are brought under the Bankruptcy Code, including proceedings brought by Landlord, which relate in any way to this Lease (in any of such cases a “Proceeding”), Landlord shall be reimbursed for all costs incurred in connection with the Proceedings.

Appears in 1 contract

Samples: Office Lease (Seattle Genetics Inc /Wa)

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Expense Recovery. Items of expense for which Tenant shall indemnify Landlord shall include but not be liable to Landlord for in connection with a termination of this Lease for default shall includelimited to: (i) all collection costs and all costs of expenses incurred in collecting amounts due from Tenant under this Lease or obtaining Tenant’s compliance with this Lease, Lease (including attorneys’ fees and enforcement costsfees); (ii) the unamortized portion of (a) leasing commissions paid in connection with this Lease, and (b) all costs incurred by Landlord for tenant improvements in order to improve re-let the Premises (amortized such amortization to be based on a straight line basis over the initial Term with interest at the Prime Rate plus [***]% per annum12%); and (iii) all Landlord’s other costs proximately caused by the termination. The above sums shall be due and payable immediately upon notice from Landlord without regard to whether the cost or expense was incurred before or after the termination of this Lease. If proceedings are brought under the Bankruptcy Code, including proceedings brought by Landlord, which relate in any way to this Lease (in any of such cases a “Proceeding”), then Landlord shall be reimbursed for all paid the costs incurred by Landlord in connection with the Proceedings.

Appears in 1 contract

Samples: Office Lease (PortalPlayer, Inc.)

Expense Recovery. Items of expense for which Tenant shall indemnify Landlord shall include but not be liable to Landlord for in connection with a termination of this Lease for default shall includelimited to: (i) all collection costs and all costs of expenses incurred in collecting amounts due from Tenant under this Lease or obtaining Tenant’s 's compliance with this Lease, Lease (including attorneys’ fees and enforcement costs' fees); (ii) the unamortized portion of (a) leasing commissions paid in connection with this Lease, and (b) all costs incurred by Landlord to improve the Premises (amortized such amortization to be based on a straight line basis over the initial Term with interest at the Prime Rate plus [***]% per annum%); and (iii) all Landlord’s 's other costs proximately caused by the termination. The above sums shall be due and payable immediately upon notice from Landlord without regard to whether the cost or expense was incurred before or after the termination of this Lease. If proceedings are brought under the Bankruptcy Code, including proceedings brought by Landlord, which relate in any way to this Lease (in any of such cases a "Proceeding"), then Landlord shall be reimbursed for all paid the costs incurred by Landlord in connection with the Proceedings.

Appears in 1 contract

Samples: Office Lease (Seattle Genetics Inc /Wa)

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Expense Recovery. Items of expense for which Tenant shall indemnify Landlord shall include but not be liable to Landlord for in connection with a termination of this Lease for default shall includelimited to: (i) all collection costs and all costs of expenses incurred in collecting amounts due from Tenant under this Lease or obtaining Tenant’s 's compliance with this Lease, Lease (including attorneys’ fees and enforcement costs' fees); (ii) the unamortized portion of (a) leasing commissions paid in connection with this Lease, and (b) all costs incurred by Landlord to improve the Premises (amortized such amortization to be based on a straight line basis over the initial Term with interest at the Prime Rate plus [***]% per annum13%); and (iii) all Landlord’s 's other costs proximately caused by the termination. The above sums shall be due and payable immediately upon notice from Landlord without regard to whether the cost or expense was incurred before or after the termination of this Lease. If proceedings are brought under the Bankruptcy Code, including proceedings brought by Landlord, which relate in any way to this Lease (in any of such cases a "Proceeding"), then Landlord shall be reimbursed for all paid the costs incurred by Landlord in connection with the Proceedings.

Appears in 1 contract

Samples: Office Lease (Seattle Genetics Inc /Wa)

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