Common use of Final Damages Clause in Contracts

Final Damages. At any time after such termination, whether or not Landlord shall have collected any such current damages, as liquidated final damages and in lieu of all such current damages beyond the date of such demand, at Landlord's election Tenant shall pay to Landlord an amount equal to the excess, if any, of Rent and other sums as hereinbefore provided which would he payable hereunder from the date of such demand assuming that, for the purposes of this paragraph, annual payments by Tenant on account of Property Taxes would be the same as the payments required for the immediately preceding year for what would be the then unexpired Term of this Lease if the same remained in effect, over the then fair net rental value of the Premises for the same period, discounted to present value at the rate of 3% per annum.