Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events: (i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be; (ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord; (iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and (iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 5 contracts
Samples: Lease Agreement (MSG Entertainment Spinco, Inc.), Lease Agreement (MSG Entertainment Spinco, Inc.), Lease (MSG Spinco, Inc.)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, including removal and storage of Tenant’s property, (ii) the costs and expenses of restoring the Premises to the condition in which the same were to have been surrendered by Xxxxxx as of the expiration of the Term, and (iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(ii) The damage sums payable by Tenant under the preceding provisions of this paragraph (d) shall be payable on demand from time to time as the amounts are determined; and if from Landlord’s subsequent receipt of rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord to Tenant, without interest.
(iii) Landlord may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period (with both amounts being discounted specific performance of any covenant or agreement contained herein, and for the enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of consequential damages and all moneys due or to present value at a rate become due from Tenant under any of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 4 contracts
Samples: Full Service Lease (GMH Communities Trust), Full Service Lease (GMH Communities Trust), Assignment of Lease (RAIT Financial Trust)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, including removal and storage of Tenant’s property, (ii) the costs and expenses of restoring the Premises to the condition in which the same were to have been surrendered by Tenant as of the expiration of the Term, and (iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(ii) The damage sums payable by Tenant under the preceding provisions of this paragraph (d) shall be payable on demand from time to time as the amounts are determined; and if from Landlord’s subsequent receipt of rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord to Tenant, without interest.
(iii) Landlord may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period specific performance of any covenant or agreement contained herein, and for the enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of consequential damages (with both amounts being discounted provided that consequential damages shall only be collected in the event that the default is due to present value at a rate Tenant’s failure to vacate the Premises upon the expiration or earlier termination of interest equal this Lease) and all moneys due or to 2% below the then Base Rate) less the aggregate amount become due from Tenant under any of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 3 contracts
Samples: Full Service Lease (Research Pharmaceutical Services, Inc.), Full Service Lease (Research Pharmaceutical Services, Inc.), Full Service Lease (Research Pharmaceutical Services, Inc.)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i1) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all reasonable costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, for including removal and storage of Tenant's property, in accordance with Section 11 hereof, (ii) the costs and expenses of restoring the Premises to the condition in which the same period were to have been surrendered by Tenant as of the expiration of the Term and accordance with Section 11 hereof, and (with both amounts being discounted iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value at a rate value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of interest equal the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(2% below ) The damage sums payable by Tenant under the then Base Ratepreceding provisions of this paragraph (d) less shall be payable on demand from time to time as the aggregate amount amounts are determined; and if from Landlord's subsequent receipt of Deficiencies theretofore collected rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord pursuant to Tenant.
(3) Landlord may distrain for rent, and enforce the provisions of Section 20.2(a)(iii) this Lease and may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period. Ifspecific performance of any covenant or agreement contained herein, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof and for the period which otherwise would have constituted the unexpired portion enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of all moneys due or to become due from Tenant under any of the Term or any part thereof, the amount provisions of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 2 contracts
Samples: Lease Agreement (Immune Response Corp), Lease Agreement (Immune Response Corp)
Landlord’s Damages. If this Lease and the Term expires expire and comes come to an end as provided in Article 1918, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.119.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent Rent, the Security Deposit or otherwise, and to draw upon any Letter of Credit or other security deposited by Tenant hereunder and retain the proceeds thereof, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month month, shall prejudice Landlord’s 's right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii19.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises Premises, or any part thereof thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 2 contracts
Samples: Lease (Greenhill & Co Inc), Lease (Advent Software Inc /De/)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i1) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, for including removal and storage of Tenant’s property, (ii) the costs and expenses of restoring the Premises to the condition in which the same period were to have been surrendered by Tenant as of the expiration of the Term, and (with both amounts being discounted iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value at a rate value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of interest equal the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(2% below ) The damage sums payable by Tenant under the then Base Ratepreceding provisions of this paragraph (c) less shall be payable on demand from time to time as the aggregate amount amounts are determined; and if from Landlord’s subsequent receipt of Deficiencies theretofore collected rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord pursuant to Tenant, without interest.
(3) Landlord may enforce the provisions of Section 20.2(a)(iii) this Lease and may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period. Ifspecific performance of any covenant or agreement contained herein, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof and for the period which otherwise would have constituted the unexpired portion enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of all moneys due or to become due from Tenant under any of the Term or any part thereof, the amount provisions of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 1 contract
Landlord’s Damages. If Landlord elects to terminate this Lease and the Term expires and comes Tenant's right to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter possession of the Premises in accordance with the provisions of this Lease, Landlord may recover from Tenant as provided in Section 20.1damages, then, in any all of such eventsthe following:
(i) Tenant shall pay to Landlord all The worth at the time of award of any unpaid Rent payable under this Lease by Tenant to Landlord up to and other charges which has been earned at the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;time at such termination; plus
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, which monies, to The worth at the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment time of installments award of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the unpaid Rent and other charges which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves Landlord could have reasonably avoided; plus
(iii) The worth at the time of award of the amount by which the unpaid Rent and other charges which Tenant would have paid for the period which otherwise would have constituted the unexpired portion balance of the Term (assuming Additional Rent during such period to be after the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) time of award exceeds the then fair and reasonable amount of such rental value loss that Tenant proves Landlord could have reasonably avoided; plus
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including without limitation, any costs or expenses incurred by Landlord in (a) maintaining or preserving the Premises, after such default, (b) recovering possession of the Premises, for including reasonable attorneys' fees therefor, (c) expenses of re-letting the same period Premises to a new tenant, including necessary renovations or alterations of the Premises, reasonable attorneys' fees incurred, and customary leasing commissions incurred; plus
(with both v) Such other amounts being discounted in addition to present value or in lieu of the foregoing as may be permitted from time to time by the laws of the State where the Shopping Center is located. As used in subparagraphs (i) and (ii) above, the "worth at a the time of award" is computed by allowing interest on unpaid amounts at the rate of interest equal 10% per annum. As used in subparagraph (iii) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank located nearest to 2% below the then Base Rate) less Shopping Center in effect at the aggregate time of award, plus 1%. For purposes of this Article 25, all Rent other than Minimum Annual Rent, shall, for purposes of calculating any amount of Deficiencies theretofore collected by Landlord pursuant to due under the provisions of Section 20.2(a)(iiisubparagraph (iii) for above, be computed on the same basis of the average monthly amount of Rent payable by Tenant during the immediately preceding 36 month period. If, except that if it becomes necessary to compute such rental before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion 36 months of the Term or any part thereofhas expired, then such Rent shall be computed on the basis of the average monthly amount of rent reserved upon Rent payable during such reletting shorter period. The rights and remedies given to Landlord in this Article shall be deemed, prima facie, in addition and supplemental to be all other rights or remedies which Landlord may have under the fair and reasonable rental value for laws in force when the part or the whole of the Premises so relet during the term of the relettingdefault occurs.
Appears in 1 contract
Samples: Shopping Center Sublease (United Panam Financial Corp)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i1) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) All Minimum Annual Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivi) whether or not All costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, for including removal and storage of Tenant's property, improvements and alterations therefrom, (ii) the costs and expenses of restoring the Premises to the condition in which the same period were to have been surrendered by Tenant as of the expiration of the Term, or, in lieu thereof, the costs and expenses of remodeling or altering the premises or any part for reletting the same, (with both amounts being discounted iii) the costs of reletting (exclusive of those covered by the foregoing (ii)) including brokerage fees and reasonable counsel fees, and (iv) any special overhead expenses related to present value at a rate the vacancy of interest equal the Premises not in excess of ten percent (10%) of the initial Minimum Annual Rent otherwise to 2% below be paid by Tenant over the remainder of the Term, for each month or part between the date of termination and the reletting of the entire Premises; and
(C) All Minimum Annual Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then Base Rate) less the aggregate amount of Deficiencies theretofore collected determined or estimated by Landlord pursuant as aforesaid) otherwise payable by Tenant over the remainder of the Term. Less (deducting from the total determined under subparagraphs (A), (B) and (C)) all rent and all other Additional Rent to the provisions extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other Tenant(s) by reason of Section 20.2(a)(iii) for the same period. If, before presentation leasing of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for during or attributable to any periods falling within the period which otherwise would have constituted the unexpired portion remainder of the Term or any part thereofTerm.
(2) All attorneys’ fees, costs and expenses incurred by Landlord as a result of such Event of Default.
(3) The damage sums payable by Tenant under the amount preceding provisions of this paragraph (d) shall be payable on demand from time to time as the amounts are determined; and if from Landlord's subsequent receipt of rent reserved upon as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such reletting rent thereafter received, such excess payment(s) shall be deemedrefunded by Landlord to Tenant, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingwithout interest.
Appears in 1 contract
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i1) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, including removal and storage of Tenant's property, (ii) the costs and expenses of restoring the Premises to the condition in which the same were to have been surrendered by Tenant as of the expiration of the Term, and (iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(2) The damage sums payable by Tenant under the preceding provisions of this paragraph (d) shall be payable on demand from time to time as the amounts are determined; and if from Landlord's subsequent receipt of rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord to Tenant, without interest.
(3) Landlord may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period (with both amounts being discounted specific performance of any covenant or agreement contained herein, and for the enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of all moneys due or to present value at a rate become due from Tenant under any of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 1 contract
Samples: Lease (Sciquest Inc)
Landlord’s Damages. If Should Landlord terminate this Lease and Tenant's right to possession of the Term expires and comes Premises, pursuant to an end the provisions of subparagraph (a) or (c) of Section 14.3 or the provisions of Article 17, Section 17.1, Landlord may recover from Tenant as provided in Article 19damages, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter all of the Premises as provided in Section 20.1, then, in any of such eventsfollowing:
(ia) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to The worth at the Expiration Date or to time of award of any unpaid rental that had been earned at the date time of re-entry upon the Premises by Landlord, as the case may besuch termination;
(iib) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, which monies, to The worth at the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment time of installments award of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent unpaid rental that would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves could have been reasonably avoided;
(c) The worth at the time of award of the amount by which the unpaid rental for the period which otherwise would have constituted the unexpired portion balance of the Lease Term (assuming Additional Rent during such period to be after the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) time of award exceeds the then fair and reasonable amount of such rental value loss that Tenant proves could be reasonably avoided;
(d) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, any costs or expense incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorney fees therefor, (ii) maintaining or preserving the Premises after such default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises for such reletting, (iv) leasing commissions, and (v) any other costs necessary or appropriate to relet the Premises; and
(e) At Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State where the Property is located. As used in subparagraphs (a) and (b) of the Section 14.4, the "worth at the time of award" is computed by allowing interest at the maximum rate allowed by the usury or similar law, if any, of the State in which the Property is located. As used in subparagraph (c) of this Section 14.4, "the worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). All rental, other than Minimum Annual Rental shall, for the same period (with both amounts being discounted to present value at a rate purposes of interest equal to 2% below the then Base Rate) less the aggregate calculating any amount of Deficiencies theretofore collected by Landlord pursuant to due under the provisions of subparagraph (c) of this Section 20.2(a)(iii) for 14.4, be computed on the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion basis of the Term or any part thereofaverage monthly amount thereof accruing during the immediately preceding sixty (60) month period, the amount of rent reserved upon except that, if it becomes necessary to compute such reletting rental before such a sixty (60) month period has occurred, then such rental shall be deemed, prima facie, to be computed on the fair and reasonable rental value for the part or the whole basis of the Premises so relet average monthly amount hereof accruing during the term of the relettingsuch shorter period.
Appears in 1 contract
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent Rent, the Security Deposit or otherwise, and to draw upon any Letter of Credit or other security deposited by Tenant hereunder and retain the proceeds thereof, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s 's right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly payments on account of the Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further payments on account of the Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount amounts on account of Deficiencies the Deficiency theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 1 contract
Samples: Lease (Sports Club Co Inc)
Landlord’s Damages. (a) If this Lease and the Term expires and comes to an end as provided in Article 19Term, or by or under any summary proceeding or any other action or proceedingXxxxxx’s right to possession of the Premises, or if Landlord shall re-enter the Premises terminate as provided in Section 20.115.2, then, in any of such events:
(i) Tenant shall pay to Landlord all items of Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or prior to the date of re-entry upon the Premises by Landlord, as the case may betermination;
(ii) Landlord shall be entitled to may retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent Rent, a security deposit or otherwise, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month month, shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming the Additional Rent during such period to be the same as had been was payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% three percent (3%) (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to two percent (2% %) below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii15.3(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises Premises, or any part thereof thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term Term, or any part thereof.
(b) If the Premises, or any part thereof, shall be relet together with other space in the amount Building, the rents collected or reserved under any such reletting and the expenses of rent reserved upon any such reletting shall be deemedequitably apportioned for the purposes of this Section. Tenant shall not be entitled to any rents collected or payable under any reletting, prima faciewhether or not such rents exceeds the Fixed Rent reserved in this Lease, however, said excess shall be credited against amounts due and owing by Tenant to Landlord. Nothing contained in this Article shall be deemed to limit or preclude the recovery by Landlord from Tenant of the maximum amount allowed to be obtained as damages by any Requirement, or of any sums or damages to which Landlord may be entitled in addition to the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingdamages set forth in this Section.
Appears in 1 contract
Samples: Deed of Lease (Carlyle Group L.P.)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19Lease Term, or by or under any summary proceeding or any other action or proceedingTenant’s right to possession of the Premises shall terminate, or if Landlord shall re-enter the Premises Premises, as provided in Section 20.1this Paragraph 12, then, in any of such events:
(i) Tenant shall pay to Landlord all items of Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or prior to the date of re-entry upon the Premises by Landlord, as the case may betermination or repossession;
(ii) Landlord shall be entitled to may retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent Rent, a security deposit or otherwise, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installmentsinstallments over the balance of the Lease Term, on the days specified in this Lease for payment of installments of Fixed Base Rent, any “Deficiency” (as hereinafter defined); it being understood that Landlord shall be entitled to recover the Deficiency installment from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency installment for any month month, shall prejudice Landlord’s right to collect the Deficiency installment for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly DeficiencyDeficiency installment, Tenant shall pay to Landlord, on demanddemand (the date of such payment is the “Payment Date”), at the election of Landlord, in lieu of any further Deficiency installments and as liquidated and agreed final damages, the Present Value (as hereinafter defined) plus any Deficiency Installments theretofore to have been paid, but which were not paid. Present Value is intended to reflect a sum equal to discounted value of the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Lease Term at the date of termination or repossession (assuming the Additional Rent during such period to be the same as had been was payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by four percent (4% %) (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) Premises for the same period. To find the Present Value, the difference described in the preceding sentence shall be calculated for each month of the period in question and such difference shall be discounted to the amount which, if invested on the Payment Date at 6% per annum, would yield on the date such monthly payment of Rent would have otherwise been due, in the amount of such difference; and the sum of all such differences so discounted shall be the “Present Value”. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises Premises, or any part thereof thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term Lease Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, deemed prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 1 contract
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, including removal and storage of Tenant’s property, (ii) the costs and expenses of restoring the Premises to the condition in which the same were to have been surrendered by Tenant as of the expiration of the Term, and (iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(ii) The damage sums payable by Tenant under the preceding provisions of this subparagraph (d) shall be payable on demand from time to time as the amounts are determined; and if from Landlord’s subsequent receipt of rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord to Tenant, without interest.
(iii) Landlord may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period (with both amounts being discounted specific performance of any covenant or agreement contained herein, and for the enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of consequential damages and all moneys due or to present value at a rate become due from Tenant under any of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 1 contract
Samples: Triple Net Lease (Qad Inc)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i1) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, for including removal and storage of Tenant's property, (ii) the costs and expenses of restoring the Premises to the condition in which the same period were to have been surrendered by Xxxxxx as of the expiration of the Term, and (with both amounts being discounted iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value at a rate value. Provided Landlord shall deduct from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Xxxxxxxx receives from other tenant(s) by reason of interest equal the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(2% below ) The damage sums payable by Tenant under the then Base Ratepreceding provisions of this paragraph (d) less shall be payable on demand from time to time as the aggregate amount amounts are determined; and if from Landlord's subsequent receipt of Deficiencies theretofore collected rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord pursuant to Tenant, without interest.
(3) Landlord may distrain for rent, and enforce the provisions of Section 20.2(a)(iii) this Lease and may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period. Ifspecific performance of any covenant or agreement contained herein, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof and for the period which otherwise would have constituted the unexpired portion enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of all moneys due or to become due from Tenant under any of the Term or any part thereof, the amount provisions of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 1 contract
Samples: Triple Net Lease (Pharmaceutical Product Development Inc)
Landlord’s Damages. (a) If this Lease and the Term expires and comes to an end as provided in Article 19Term, or by or under any summary proceeding or any other action or proceedingTenant’s right to possession of the Premises, or if Landlord shall re-enter the Premises terminate as provided in Section 20.115.2, then, in any of such events:
(i) Tenant shall pay to Landlord all items of Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or prior to the date of re-entry upon the Premises by Landlord, as the case may betermination;
(ii) Landlord shall be entitled to may retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent Rent, a Security Deposit or otherwise, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month month, shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming the Additional Rent during such period to be the same as had been was payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by four percent (4% %) (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to two percent (2% %) below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii15.3(a)(iii) for the same period, it being understood that upon payment of such final damages, Tenant shall be released from further liability under this Lease with respect to the period after the date of such payment. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises Premises, or any part thereof thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, deemed prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
(b) If the Premises, or any part thereof, shall be relet together with other space in the Building (or for a term extending beyond the Lease Term), the rents collected or reserved under any such reletting and the expenses of any such reletting shall be equitably apportioned for the purposes of this Section. Tenant shall not be entitled to any rents collected or payable under any reletting, whether or not such rents exceeds the Fixed Rent reserved in this Lease, however, said excess shall be credited against amounts due and owing by Tenant to Landlord. Nothing contained in this Article shall be deemed to limit or preclude the recovery by Landlord from Tenant of the maximum amount allowed to be obtained as damages by any Requirement, or of any sums or damages to which Landlord may be entitled in addition to the damages set forth in this Section.
Appears in 1 contract
Samples: Deed of Lease (FBR & Co.)
Landlord’s Damages. If Should Landlord terminate this Lease and Xxxxxx's right to possession of the Term expires and comes Premises, pursuant to an end the provisions of subparagraphs (a) or (c) of Section 16.3, Landlord may recover from Tenant as provided in Article 19damages, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter all of the Premises as provided in Section 20.1, then, in any of such eventsfollowing:
(ia) Tenant shall pay to Landlord all The worth at the time of award of any unpaid Rent payable under this Lease by Tenant to Landlord up to that had been earned at the Expiration Date or to the date time of re-entry upon the Premises by Landlord, as the case may besuch termination;
(iib) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, which monies, to The worth at the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment time of installments award of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the unpaid Rent that would have been earned after termination until the time of award exceeds the amount of such Rent loss Tenant proves could have been reasonably avoided;
(c) The worth at the time of award of the amount by which the unpaid Rent for the period which otherwise would have constituted the unexpired portion balance of the Lease Term (assuming Additional Rent during such period to be after the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) time of award exceeds the then fair and reasonable rental value amount of such Rent loss that Tenant proves could be reasonably avoided;
(d) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, any costs or expense incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorney fees therefor, (ii) maintaining or preserving the Premises after such default, (iii) preparing the Premises for reletting to a new tenant, including repairs or demolitions to the Premises for such reletting, (iv) leasing commissions, and (v) any other costs necessary or appropriate to relet the Premises; and
(e) At Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the state where the Shopping Center is located. As used in subparagraphs (a) and (b) of this Section, the "worth at the time of award" is computed by allowing interest at the Interest Rate. As used in subparagraph (c) of this Section, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). All Additional Rent shall, for the same period (with both amounts being discounted to present value at a rate purposes of interest equal to 2% below the then Base Rate) less the aggregate calculating any amount of Deficiencies theretofore collected by Landlord pursuant to due under the provisions of Section 20.2(a)(iiisubparagraph (c) for of this Section, be computed on the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion basis of the Term or any part thereofaverage monthly amount thereof accruing during the immediately preceding thirty-six (36) month period, the amount of rent reserved upon except that, if it becomes necessary to compute such reletting Additional Rent before such a thirty-six (36) month period has occurred, then such Additional Rent shall be deemed, prima facie, to be computed on the fair and reasonable rental value for the part or the whole basis of the Premises so relet average monthly amount thereof accruing during the term of the relettingsuch shorter period.
Appears in 1 contract
Samples: Shopping Center Lease (Play Co Toys & Entertainment Corp)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month upon an Event of Default shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, including removal and storage of Tenant’s property, (ii) the costs and expenses of restoring the Premises to the condition in which the same were to have been surrendered by Tenant as of the expiration of the Term, and (iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Fixed Rent and all other Additional Rent to the extent determinable as aforesaid (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(ii) The damage sums payable by Tenant under the preceding provisions of this subparagraph (d) shall be payable on demand from time to time as the amounts are determined; and if from Landlord’s subsequent receipt of rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord to Tenant, without interest.
(iii) Landlord may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period (with both amounts being discounted specific performance of any covenant or agreement contained herein, and for the enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of consequential damages and all moneys due or to present value at a rate become due from Tenant under any of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 1 contract
Landlord’s Damages. If this Lease and the Term expires expire and comes come to an end as provided in Article 1918, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.119.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent Rent, the Security Deposit or otherwise, and to draw upon any Letter of Credit or other security deposited by Tenant hereunder and retain the proceeds thereof, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month month, shall prejudice Landlord’s 's right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly +Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii19.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises Premises, or any part thereof thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 1 contract
Samples: Lease (Greenhill & Co Inc)
Landlord’s Damages. If this Lease and the Term expires expire and comes come to an end as provided in Article 1918, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.119.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Fixed Rent, all sums payable pursuant to Article 8 of this Lease (including Tenant's Tax Payment and Tenant's Operating Payment) and all other items of Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent advance Rent, Security Deposit or otherwise, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month month, the Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s 's right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming the Additional Rent during such period to be the same as had been was payable for the year immediately preceding such termination or re-entry), increased in each succeeding year by 4% four percent (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% two percent below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii19.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises Premises, or any part thereof thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 1 contract
Samples: Lease (Kasper a S L LTD)
Landlord’s Damages. If Should Landlord terminate this Lease and Tenant's right to possession of the Term expires and comes Premises, pursuant to an end the provisions of subparagraphs (a) or (c) of Section 16.3, Landlord may recover from Tenant as provided in Article 19damages, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter all of the Premises as provided in Section 20.1, then, in any of such eventsfollowing:
(ia) The worth at the time of award of any unpaid Rent that had been earned at the time of such termination;
(b) The worth at the time of award of the amount by which the unpaid Rent that would have been earned after termination until the time of award exceeds the amount of such Rent loss Tenant shall pay proves could have been reasonably avoided;
(c) The worth at the time of award of the amount by which the unpaid Rent for the balance of the Lease Term after the time of award exceeds the amount of such Rent loss that Tenant proves could be reasonably avoided;
(d) Any other amount necessary to compensate Landlord for all Rent payable the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, any costs or expense incurred by Tenant Landlord in (i) retaking possession of the Premises, including reasonable attorney fees therefor, (ii) maintaining or preserving the Premises after such default, (iii) preparing the Premises for reletting to Landlord up a new tenant, including repairs or demolitions to the Expiration Date Premises for such reletting, (iv) leasing commissions, and (v) any other costs necessary or appropriate to relet the date of re-entry upon the Premises by Landlord, as the case may bePremises;
(iie) Landlord shall be entitled to retain all moniesThe unamortized cost of the Construction Allowance, if any, paid by Landlord to Tenant in accordance with the provisions of Exhibit C-Addendum, if a part of this Lease, and/or any rent credit given to LandlordTenant, whether as prepaid Rent or otherwise, which monies, with a straight-line amortization schedule and an amortization period equal to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingTerm; and
(ivf) whether At Landlord's election, such other amounts in addition to or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and the foregoing as liquidated and agreed final damages, a sum equal may be permitted from time to time by the amount by which the Rent for the period which otherwise would have constituted the unexpired portion laws of the Term state where the Shopping Center is located. As used in subparagraphs (assuming a) and (b) of this Section, the "worth at the time of award" is computed by allowing interest at the Interest Rate. As used in subparagraph (c) of this Section, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). All Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premisesshall, for the same period (with both amounts being discounted to present value at a rate purposes of interest equal to 2% below the then Base Rate) less the aggregate calculating any amount of Deficiencies theretofore collected by Landlord pursuant to due under the provisions of Section 20.2(a)(iiisubparagraph (c) for of this Section, be computed on the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion basis of the Term or any part thereofaverage monthly amount thereof accruing during the immediately preceding thirty-six (36) month period, the amount of rent reserved upon except that, if it becomes necessary to compute such reletting Additional Rent before such a thirty-six (36) month period has occurred, then such Additional Rent shall be deemed, prima facie, to be computed on the fair and reasonable rental value for the part or the whole basis of the Premises so relet average monthly amount thereof accruing during the term of the relettingsuch shorter period.
Appears in 1 contract
Samples: Lease Agreement (Play Co Toys & Entertainment Corp)
Landlord’s Damages. If Landlord elects to terminate this Lease and the Term expires and comes Tenant's right to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter possession of the Premises in accordance with the provisions of this Lease, Landlord may recover from Tenant as provided in Section 20.1damages, then, in any all of such eventsthe following:
(ia) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to The worth at the Expiration Date or to time of award of any unpaid Rental and other charges which has been earned at the date time of re-entry upon the Premises by Landlord, as the case may be;such termination; plus
(iib) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, which monies, to The worth at the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment time of installments award of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent unpaid Rental and other charges which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves Landlord could have reasonably avoided; plus
(c) The worth at the time of award of the amount by which the unpaid Rental and other charges which Tenant would have paid for the period which otherwise would have constituted the unexpired portion balance of the Term (assuming Additional Rent during such period to be after the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) time of award exceeds the then fair and amount of such rental loss that Tenant proves Landlord could have reasonably avoided; plus
(d) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom including without limitation, any reasonable rental value costs or expenses incurred by Landlord in (i) maintaining or preserving the Premises after such default, (ii) recovering possession of the Premises, including reasonable attorneys' fees therefor, (iii) expenses of reletting the Premises to a new tenant, including necessary renovations or alterations of the Premises, reasonably attorneys' fees incurred, and leasing commissions incurred (provided, however, that such expenses shall be amortized over the lease term of the new tenant and Tenant shall only compensate Landlord for the same period amortized expenses allocable to the balance of the Term); plus
(with both e) At Landlord's election, such other amounts being discounted in addition to present value or in lieu of the foregoing as may be permitted from time to time by the laws of the State of California. As used in subparagraphs (a) and (b) above, the "worth at a the time of award" is computed by allowing interest on unpaid amounts at the rate of interest equal ten percent (10%) per annum. As used in subparagraph (c) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank located nearest to 2% below the then Base Rate) less Building in effect at the aggregate time of award, plus one percent (1%). For purposes of this Article 17, all additional charges other than Rental, shall, for purposes of calculating any amount of Deficiencies theretofore collected by Landlord pursuant to due under the provisions of Section 20.2(a)(iiisubparagraph (c) for above, be computed on the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion basis of the Term or any part thereof, the average monthly amount of additional rent reserved upon payable by Tenant during the immediately preceding thirty-six (36) month period, except that if it becomes necessary to compute such reletting charges before such thirty-six (36) months of the term hereof has expired, then such additional charges shall be deemed, prima facie, to be computed on the fair and reasonable rental value for the part or the whole basis of the Premises so relet average monthly amount of additional charges payable during the term of the relettingsuch shorter period.
Appears in 1 contract
Samples: Lease Agreement (Brilliant Digital Entertainment Inc)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, for including removal and storage of Tenant’s property, (ii) the costs and expenses of restoring the Premises to the condition in which the same period were to have been surrendered by Tenant as of the expiration of the Term, and (with both amounts being discounted iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value at a using an interest rate of interest equal six percent (6%) per annum. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to 2% below the then Base Rateextent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) less which Landlord receives from other tenant(s) by reason of the aggregate amount leasing of Deficiencies theretofore collected the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(ii) The damage sums payable by Tenant under the preceding provisions of this paragraph (d) shall be payable on demand from time to time as the amounts are determined; and if from Landlord’s subsequent receipt of rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord pursuant to Tenant, without interest.
(iii) Landlord may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, and for the enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and in the limited case of holdover beyond sixty (60) days from the expiration or termination of the Lease for recovery of consequential damages and all moneys due or to become due from Tenant under any of the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 1 contract
Samples: Full Service Lease (Polymedix Inc)
Landlord’s Damages. If Should Landlord terminate this Lease and Tenant's right to possession of the Term expires and comes Premises, pursuant to an end the provisions of subparagraphs (a) or (c) of SECTION 16.3, Landlord may recover from Tenant as provided in Article 19damages, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter all of the Premises as provided in Section 20.1, then, in any of such eventsfollowing:
(ia) The worth at the time of award of any unpaid Rent that had been earned at the time of such termination;
(b) The worth at the time of award of the amount by which the unpaid Rent that would have been earned after termination until the time of award exceeds the amount of such Rent loss Tenant shall pay proves could have been reasonably avoided;
(c) The worth at the time of award of the amount by which the unpaid Rent for the balance of the Lease Term after the time of award exceeds the amount of such Rent loss that Tenant proves could be reasonably avoided;
(d) Any other amount necessary to compensate Landlord for all Rent payable the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, any costs or expense incurred by Tenant Landlord in (i) retaking possession of the Premises, including reasonable attorney fees therefor, (ii) maintaining or preserving the Premises after such default, (iii) preparing the Premises for reletting to Landlord up a new tenant, including repairs or alterations to the Expiration Date Premises for such reletting, (iv) leasing commissions, and (v) any other costs necessary or appropriate to relet the date of re-entry upon the Premises by Landlord, as the case may bePremises;
(iie) Landlord shall be entitled to retain all moniesThe unamortized cost of the Construction Allowance, if any, paid by Landlord to Tenant in accordance with the provisions of Exhibit C-Addendum, if a part of this Lease, and/or any rent credit given to LandlordTenant, whether as prepaid Rent or otherwise, which monies, with a straight-line amortization schedule and an amortization period equal to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingTerm; and
(ivf) whether At Landlord's election, such other amounts in addition to or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and the foregoing as liquidated and agreed final damages, a sum equal may be permitted from time to time by the amount by which the Rent for the period which otherwise would have constituted the unexpired portion laws of the Term state where the H&H Project is located. As used in subparagraphs (assuming a) and (b) of this SECTION 16.4, the "worth at the time of award" is computed by allowing interest at the Interest Rate. As used in subparagraph (c) of this Section 16.4, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). All Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premisesshall, for the same period (with both amounts being discounted to present value at a rate purposes of interest equal to 2% below the then Base Rate) less the aggregate calculating any amount of Deficiencies theretofore collected by Landlord pursuant to due under the provisions of Section 20.2(a)(iiisubparagraph (c) for of this SECTION 16.4 be computed on the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion basis of the Term or any part thereofaverage monthly amount thereof accruing during the immediately preceding twelve (12) month period, the amount of rent reserved upon except that, if it becomes necessary to compute such reletting Additional Rent before such a twelve (12) month period has occurred, then such Additional Rent shall be deemed, prima facie, to be computed on the fair and reasonable rental value for the part or the whole basis of the Premises so relet average monthly amount thereof accruing during the term of the relettingsuch shorter period.
Appears in 1 contract
Samples: Lease Agreement (uWink, Inc.)
Landlord’s Damages. If Should Landlord terminate this Lease and Tenant's right to possession of the Term expires and comes Premises, pursuant to an end the provisions of subparagraph (a) or (c) of Section 14.3 or the provisions of Article 17, Section 17.1, Landlord may recover from Tenant as provided in Article 19damages, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter all of the Premises as provided in Section 20.1, then, in any of such eventsfollowing:
(ia) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to The worth at the Expiration Date or to time of award of any unpaid rental that had been earned at the date time of re-entry upon the Premises by Landlord, as the case may besuch termination;
(iib) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, which monies, to The worth at the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment time of installments award of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent unpaid rental that would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves could have been reasonably avoided;
(c) The worth at the time of award of the amount by which the unpaid rental for the period which otherwise would have constituted the unexpired portion balance of the Lease Term (assuming Additional Rent during such period to be after the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) time of award exceeds the then fair and reasonable amount of such rental value loss that Tenant proves could be reasonably avoided;
(d) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, any costs or expense incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorney fees therefor, (ii) maintaining or preserving the Premises after such default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises for such reletting, (iv) leasing commissions, and (v) any other costs necessary or appropriate to relet the Premises; and
(e) At Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State where the Shopping Center is located. As used in subparagraphs (a) and (b) of the Section 14.4, the "worth at the time of award" is computed by allowing interest at the maximum rate allowed by the usury or similar law, if any, of the State in which the Shopping Center is located. As used in subparagraph (c) of this Section 14.4, "the worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). All rental, other than Minimum Annual Rental shall, for the same period (with both amounts being discounted to present value at a rate purposes of interest equal to 2% below the then Base Rate) less the aggregate calculating any amount of Deficiencies theretofore collected by Landlord pursuant to due under the provisions of subparagraph (c) of this Section 20.2(a)(iii) for 14.4, be computed on the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion basis of the Term or any part thereofaverage monthly amount thereof accruing during the immediately preceding sixty (60) month period, the amount of rent reserved upon except that, if it becomes necessary to compute such reletting rental before such a sixty (60) month period has occurred, then such rental shall be deemed, prima facie, to be computed on the fair and reasonable rental value for the part or the whole basis of the Premises so relet average monthly amount hereof accruing during the term of the relettingsuch shorter period.
Appears in 1 contract
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, for including removal and storage of Tenant’s property, (ii) the costs and expenses of restoring the Premises to the condition in which the same period were to have been surrendered by Tenant as of the expiration of the Term, and (with both amounts being discounted iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value at value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term. Landlord shall not be entitled to a rate windfall in the event Landlord collected accelerated rent and then is able to relet the Premises.
(ii) The damage sums payable by Tenant under the preceding provisions of interest equal this paragraph (d) shall be payable on demand from time to 2% below time as the then Base Rateamounts are determined; and if from Landlord’s subsequent receipt of rent as aforesaid from reletting, there be any excess payment(s) less by Tenant by reason of the aggregate amount crediting of Deficiencies theretofore collected such rent thereafter received, the excess payment(s) shall be promptly refunded by Landlord pursuant to Tenant, without interest.
(iii) Landlord may enforce the provisions of Section 20.2(a)(iii) this Lease and may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period. Ifspecific performance of any covenant or agreement contained herein, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof and for the period which otherwise would have constituted the unexpired portion enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of all moneys due or to become due from Tenant under any of the Term or any part thereof, the amount provisions of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 1 contract
Samples: Full Service Lease (Medquist Inc)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, including removal and storage of Tenant's property, (ii) the costs and expenses of restoring the Premises to the condition in which the same were to have been surrendered by Tenant as of the expiration of the Term, and (iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(ii) The damage sums payable by Tenant under the preceding provisions of this paragraph (d) shall be payable on demand from time to time as the amounts are determined; and if from Landlord's subsequent receipt of rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord to Tenant, without interest.
(iii) Landlord may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period (with both amounts being discounted specific performance of any covenant or agreement contained herein, and for the enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of consequential damages and all moneys due or to present value at a rate become due from Tenant under any of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 1 contract
Landlord’s Damages. If this Lease In case of such termination, re-entry, or dispossess or removal by summary proceedings or otherwise, the annual rent and all other charges required to be paid by the Tenant hereunder shall thereupon become due and be paid up to the time of such termination, re-entry, or dispossess or removal, and the Tenant shall also pay to the Landlord all reasonable expenses which the Landlord may then or thereafter incur for necessary legal expenses, attorneys' fees, brokerage commissions, and all other necessary costs paid or incurred by the Landlord for restoring the Demised Premises to good order and condition and for altering and otherwise preparing the same for re-letting. The Landlord may, at any time and from time to time, re-let the Demised Premises, in whole or part, either in its own name or as agent of the Tenant, for a term or terms which, at the Landlord's option, may be for the remainder of the then current Term expires and comes to an end as provided in Article 19of this Lease, or for any longer or shorter period, and (unless the statute or rule of law which governs the proceedings in which such damages are to be proved, limits or shall limit the amount of such claim capable of being so proved and allowed, in which case the Landlord shall be entitled to prove as and for liquidated damages and have allowed an amount equal to the maximum allowed by or under any summary proceeding such statute or any other action or proceedingrule of law) the Tenant shall be obligated to, or if and shall pay to the Landlord as damages, upon demand, and the Landlord shall re-enter be entitled to recover of and from the Premises as provided in Section 20.1Tenant, thenat the election of the Landlord, in any of such eventseither:
(ia) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to liquidated damages, in an amount which, at the Expiration Date or to the date time of such termination, re-entry upon or dispossess or removal by the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled , is equal to retain all moniesthe excess, if any, paid by Tenant to Landlordof the then present value of the installments of annual rent reserved hereunder, whether as prepaid Rent or otherwisefor the period which would otherwise have constituted the unexpired portion of the then current Term of this Lease, which moniesover the then present value of the market rental value of the Demised Premises for such unexpired portion of the then current Term of this Lease, to discounted at the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;rate of six percent (6 %) per annum; or
(iiib) Tenant shall pay to Landlord, damages (payable in monthly installments, in advance, on the days specified in this Lease for payment first day of installments of Fixed Renteach calendar month following such termination, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arisere-entry or dispossess, and no suit continuing until the date originally fixed herein for the expiration of the then current Term of this Lease) in any amount or amounts equal to collect the excess, if any, of the sums of the aggregate expenses paid by the Landlord during the month immediately preceding such calendar month for all such items as, by the terms of this Lease, are required to be paid by the Tenant, plus an amount equal to the amount of the Deficiency installment of annual rent which would have been payable by the Tenant hereunder in respect to such calendar month, had this Lease and the Demised Term not been so terminated, and had the Landlord not so re-entered, over the sum of rents, if any, collected by or accruing to the Landlord in respect to such calendar month pursuant to such re-letting or any holding over by any subtenants of the Tenant, plus the amount of the rental value of any portion of the Demised Premises occupied by the Landlord or any agent of the Landlord. Any suit for any month shall not prejudice Landlord’s right in any way the rights of the Landlord to collect the Deficiency deficiency for any subsequent month by a similar proceeding; and
(iv) whether . The Landlord, at its option and at its expense, may make such alterations, repairs and/or decorations in the Demised Premises as in its reasonable judgment the Landlord considers advisable and necessary, and the making of such alterations, repairs and/or decorations shall not operate or not be construed to release the Tenant from liability hereunder. The Landlord shall have collected in no event be liable in any monthly Deficiencyway whatsoever for failure to re-let the Demised Premises, or in the event that the Demised Premises are re-let, for failure to collect rent thereof under such re-letting; and in no event shall the Tenant be entitled to receive any excess of such annual rents over the sums payable by the Tenant to the Landlord hereunder but such excess shall pay be credited to Landlordthe unpaid rentals due hereunder, on demand, and to the expenses of re-letting and preparing for re-letting as provided in lieu this Section 21.03. Suit or suits for the recovery of any further Deficiency and as liquidated and agreed final such damages, a sum equal or any installments thereof, may be brought by the Landlord from time to time at its election, and nothing herein contained shall be deemed to require the amount by which Landlord to postpone suit until the Rent for date when the period which otherwise Term of this Lease would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had expired if it has not been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to terminated under the provisions of Section 20.2(a)(iii) for this Lease, or under any provision of law, or had the same period. If, before presentation of proof of such liquidated damages to any court, commission Landlord not re-entered into or tribunal, Landlord shall have relet upon the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingDemised Premises.
Appears in 1 contract
Samples: Multiple Occupancy Net Lease (United Natural Foods Inc)
Landlord’s Damages. 7.5.1. If this Lease and the Term expires shall expire and comes come to an end as provided in Article 19Section 7.2 hereof, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.17.4, or by or under any summary proceeding or any other action or proceeding, then, in any of such said events:
(i) : Tenant shall pay to Landlord all Base Rent, Additional Rent and other items of Rent payable under this Lease with respect to the entire Premises by Tenant to Landlord up to the Expiration Date date upon which this Lease and the term shall have expired and come to an end or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord ; Tenant also shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, which monies, to the extent not otherwise applied to amounts due liable for and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, as damages, any deficiency (referred to as “Deficiency”) between the Rent with respect to the entire Premises for the period which otherwise would have constituted the unexpired portion of the Term and the net amount, if any, of rents collected under any reletting effected pursuant to the provisions of clause (ii) of 7.4 for any part of such period (first deducting from the rents collected under any such reletting all of Landlord’s expenses in connection with the termination of this Lease, Landlord’s re-entry upon the Premises and with such reletting, including, but not limited to, all repossession costs, brokerage commissions, legal expenses, attorneys’ fees and disbursements, alteration costs, contribution to work and other expenses of preparing the Premises for such reletting); any such Deficiency shall be paid in monthly installments, installments by Tenant on the days specified in this Lease for payment of installments of Fixed Base Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month monthly Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) and whether or not Landlord shall have collected any monthly DeficiencyDeficiency as aforesaid, Landlord shall be entitled to recover from Tenant, and Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency as and as for liquidated and agreed final damages, a sum equal to the amount by which the Rent with respect to the entire Premises for the period which otherwise would have constituted the unexpired portion of the Term term (assuming Additional Rent during such period commencing on the date immediately succeeding the last date with respect to be the same as had been payable for the year immediately preceding such termination or re-entrywhich a Deficiency, increased in each succeeding year by 4% (on a compounded basis)if any, was collected) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) Premises for the same period. If; if, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises Premises, or any part thereof thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
7.5.2. If the Premises, or any part thereof, shall be relet together with other space in the 18 Cxxxxx Building and/or the 14 Cxxxxx Building, as applicable, then the rents collected or reserved under any such reletting and the expenses of any such reletting shall be equitably apportioned for the purposes of this Section 7.5. Tenant shall in no event be entitled to any rents collected or payable under any reletting, whether or not such rents shall exceed the Base Rent reserved in this Lease. Nothing contained herein shall be deemed to limit or preclude the recovery by Landlord from Tenant of the maximum amount allowed to be obtained as damages by any statute or rule of law, or of any sums or damages to which Landlord may be entitled in addition to the damages set forth in this Section 7.5.
Appears in 1 contract
Samples: Lease (Quanterix Corp)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by LandlordXxxxxxxx, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 1 contract
Samples: Lease (MSGE Spinco, Inc.)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, including removal and storage of Tenant's property, (ii) the costs and expenses of restoring the Premises to the condition in which the same were to have been surrendered by Tenant as of the expiration of the Term, and (iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(ii) The damage sums payable by Tenant under the preceding provisions of this subparagraph (d) shall be payable on demand from time to time as the amounts are determined; and if from Landlord's subsequent receipt of rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord to Tenant, without interest.
(iii) Landlord may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period (with both amounts being discounted specific performance of any covenant or agreement contained herein, and for the enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of consequential damages and all moneys due or to present value at a rate become due from Tenant under any of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 1 contract
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent Rent, the Security Deposit or otherwise, and to draw upon any Letter of Credit or other security deposited by Tenant hereunder and retain the proceeds thereof, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by four percent (4% %) (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to two percent (2% %) below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 1 contract
Samples: Lease Agreement (Pzena Investment Management, Inc.)
Landlord’s Damages. 15.5.1 If Landlord elects to terminate this Lease and the Term expires and comes Tenant's rights to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter possession of the Premises in accordance with the provisions of this Lease, Landlord may recover from Tenant as provided in Section 20.1, then, in damages all of the following:
A. The worth at the time of award of any unpaid rent and other charges which has been earned at the time of such events:termination; plus
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to B. The worth at the Expiration Date or to the date time of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment award of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent unpaid rent and other charges which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves Landlord could have reasonably avoided; plus
C. The worth at the time of award of the amount by which the unpaid rent and all other charges which Tenant would have paid for the period which otherwise would have constituted the unexpired portion balance of the Term (assuming Additional Rent during such period to be term of the same as had been payable for Lease after the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) time of award exceeds the then fair and reasonable amount of such rental value loss that Tenant proves Landlord could have reasonably avoided; plus
D. Any other amount necessary to compensate Landlord for all of the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, any costs or expenses incurred by Landlord in (a) maintaining or preserving the Premises after such default, (b) recovering possession of the Premises, for including reasonable attorneys' fees therefor; (c) expenses of reletting the same period (with both Premises to a new tenant, including necessary renovations or alterations of the Premises, reasonable attorneys' fees incurred, and leasing commission incurred; plus
E. Such other amounts being discounted in addition to present value or in lieu of the foregoing as may be permitted from time to time by the laws of the State of California.
15.5.2 As used in Subsections A and B, above, the "worth at a the time of award" is computed by allowing interest on unpaid amounts at the rate of interest equal ten percent (10%) per annum. As used in Subsection C, above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank located nearest to 2% below the then Base Rate) less Building in effect at the aggregate time of award, plus one percent (1%).
15.5.3 For purposes of this Section 15, all rent other than minimum monthly rent shall, for purposes of calculating any amount of Deficiencies theretofore collected by Landlord pursuant to due under the provisions of Section 20.2(a)(iii) for Subsection C, above, be computed on the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion basis of the Term or any part thereofaverage monthly amount of rent, other than minimum monthly rent, payable by Tenant during the immediately preceding thirty-six-month period, except that if it becomes necessary to compute such rental before such thirty-six-month period has expired, then such rent shall be computed on the basis of the average monthly amount of rent reserved upon payable during such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingshorter period.
Appears in 1 contract
Samples: Triple Net Real Property Lease (Avtel Communications Inc/Ut)
Landlord’s Damages. If this Lease In case of such termination, re-entry, or dispossess or removal by summary proceedings or otherwise, the annual rent and all other charges required to be paid by the Tenant hereunder shall thereupon become due and be paid up to the time of such termination, re-entry, or dispossess or removal, and the Tenant shall also pay to the Landlord all reasonable expenses which the Landlord may then or thereafter incur for necessary legal expenses, attorneys’ fees, brokerage commissions, and all other necessary costs paid or incurred by the Landlord for restoring the Demised Premises to good order and condition and for altering and otherwise preparing the same for re-letting. The Landlord may, at any time and from time to time, re-let the Demised Premises, in whole or part, either in its own name or as agent of the Tenant, for a term or terms which, at the Landlord’s option, may be for the remainder of the then current Term expires and comes to an end as provided in Article 19of this Lease, or for any longer or shorter period, and (unless the statute or rule of law which governs the proceedings in which such damages are to be proved, limits or shall limit the amount of such claim capable of being so proved and allowed, in which case the Landlord shall be entitled to prove as and for liquidated damages and have allowed an amount equal to the maximum allowed by or under any summary proceeding such statute or any other action or proceedingrule of law) the Tenant shall be obligated to, or if and shall pay to the Landlord as damages, upon demand, and the Landlord shall re-enter be entitled to recover of and from the Premises as provided in Section 20.1Tenant, thenat the election of the Landlord, in any of such eventseither:
(ia) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to liquidated damages, in an amount which, at the Expiration Date or to the date time of such termination, re-entry upon or dispossess or removal by the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled , is equal to retain all moniesthe excess, if any, paid by Tenant to Landlordof the then present value of the installments of annual rent reserved hereunder, whether as prepaid Rent or otherwisefor the period which would otherwise have constituted the unexpired portion of the then current Term of this Lease, which moniesover the then present value of the market rental value of the Demised Premises for such unexpired portion of the then current Term of this Lease, to discounted at the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;rate of six percent (6%) per annum; or
(iiib) Tenant shall pay to Landlord, damages (payable in monthly installments, in advance, on the days specified in this Lease for payment first day of installments of Fixed Renteach calendar month following such termination, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arisere-entry or dispossess, and no suit continuing until the date originally fixed herein for the expiration of the then current Term of this Lease) in any amount or amounts equal to collect the excess, if any, of the sums of the aggregate expenses paid by the Landlord during the month immediately preceding such calendar month for all such items as, by the terms of this Lease, are required to be paid by the Tenant, plus an amount equal to the amount of the Deficiency installment of annual rent which would have been payable by the Tenant hereunder in respect to such calendar month, had this Lease and the Demised Term not been so terminated, and had the Landlord not so re-entered, over the sum of rents, if any, collected by or accruing to the Landlord in respect to such calendar month pursuant to such re-letting or any holding over by any subtenants of the Tenant, plus the amount of the rental value of any portion of the Demised Premises occupied by the Landlord or any agent of the Landlord. Any suit for any month shall not prejudice Landlord’s right in any way the rights of the Landlord to collect the Deficiency deficiency for any subsequent month by a similar proceeding; and
(iv) whether . The Landlord, at its option and at its expense, may make such alterations, repairs and/or decorations in the Demised Premises as in its reasonable judgment the Landlord considers advisable and necessary, and the making of such alterations, repairs and/or decorations shall not operate or not be construed to release the Tenant from liability hereunder. The Landlord shall have collected in no event be liable in any monthly Deficiencyway whatsoever for failure to re-let the Demised Premises, or in the event that the Demised Premises are re-let, for failure to collect rent thereof under such re-letting; and in no event shall the Tenant be entitled to receive any excess of such annual rents over the sums payable by the Tenant to the Landlord hereunder but such excess shall pay be credited to Landlordthe unpaid rentals due hereunder, on demand, and to the expenses of re-letting and preparing for re-letting as provided in lieu this Section 21.03. Suit or suits for the recovery of any further Deficiency and as liquidated and agreed final such damages, a sum equal or any installments thereof, may be brought by the Landlord from time to time at its election, and nothing herein contained shall be deemed to require the amount by which Landlord to postpone suit until the Rent for date when the period which otherwise Term of this Lease would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had expired if it has not been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to terminated under the provisions of Section 20.2(a)(iii) for this Lease, or under any provision of law, or had the same period. If, before presentation of proof of such liquidated damages to any court, commission Landlord not re-entered into or tribunal, Landlord shall have relet upon the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingDemised Premises.
Appears in 1 contract
Samples: Lease Agreement (PharMEDium Healthcare Holdings, Inc.)
Landlord’s Damages. If this Lease and the Term expires expire and comes come to an end as provided in Article 1918, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.119.1(a)(1), then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent Rent, any security deposit or otherwise, and to draw upon any letter of credit or other security deposited by Tenant hereunder and retain the proceeds thereof, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord. Notwithstanding the foregoing, if the amount of the security deposit is greater than the damages or any other amount owed to Landlord, the excess amount shall be returned to Tenant;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month month, shall prejudice Landlord’s 's right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 21% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii19.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises Premises, or any part thereof thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 1 contract
Samples: Lease Agreement (Thestreet Com)
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19Lease Term, or by or under any summary proceeding or any other action or proceedingTenant’s right to possession of the Premises shall terminate, or if Landlord shall re-enter the Premises Premises, as provided in Section 20.1this Paragraph 12, then, in any of such events:
(i) Tenant shall pay to Landlord all items of Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or prior to the date of re-entry upon the Premises by Landlord, as the case may betermination or repossession;
(ii) Landlord shall be entitled to may retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent Rent, a security deposit or otherwise, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Base Rent, any “Deficiency” (as hereinafter defined); it being understood that Landlord shall be entitled to recover the Deficiency installment from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency installment for any month month, shall prejudice Landlord’s right to collect the Deficiency installment for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly DeficiencyDeficiency installment, Tenant shall pay to Landlord, on demanddemand (the date of such payment is the “Payment Date”), at the election of Landlord, in lieu of any further Deficiency installments and as liquidated and agreed final damages, the Present Value (as hereinafter defined) plus any Deficiency installments theretofore to have been paid, but which were not paid. Present Value is intended to reflect a sum equal to discounted value of the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Lease Term at the date of termination or repossession (assuming the Additional Rent during such period to be the same as had been was payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by four percent (4% %) (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) Premises for the same period. To find the Present Value, the difference described in the preceding sentence shall be calculated for each month of the period in question and such difference shall be discounted to the amount which, if invested on the Payment Date at 6% per annum, would yield on the date such monthly payment of Rent would have otherwise been due, the amount of such difference; and the sum of all such differences so discounted shall be the “Present Value”. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises Premises, or any part thereof thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term Lease Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, deemed prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 1 contract
Samples: Sublease (Karuna Therapeutics, Inc.)
Landlord’s Damages. If this Should Landlord terminate the Lease and Tenant's right to possession of the Term expires and comes Premises, pursuant to an end the provisions of subparagraphs (a) or (c) of Section 16.3, Landlord may recover from Tenant as provided in Article 19damages, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter all of the Premises as provided in Section 20.1, then, in any of such eventsfollowing:
(ia) Tenant shall pay to Landlord all The worth at the time of award of any unpaid Rent payable under this Lease by Tenant to Landlord up to that had been earned at the Expiration Date or to the date time of re-entry upon the Premises by Landlord, as the case may besuch termination;
(iib) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, which monies, to The worth at the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment time of installments award of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the unpaid Rent that would have been earned after termination until the time of award exceeds the amount of such Rent loss Tenant proves could have been reasonably avoided;
(c) The worth at the time of award of the amount by which the unpaid Rent for the period which otherwise would have constituted the unexpired portion balance of the Lease Term (assuming Additional Rent during such period to be after the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) time of award exceeds the then fair and reasonable rental value amount of such Rent loss that Tenant proves could be reasonably avoided;
(d) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under the Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, any costs or expense incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorney fees therefor, (ii) maintaining or preserving the Premises after such default, (iii) preparing the Premises for reletting to a new tenant, including repairs or demolition to the same period Premises for such reletting, (with both iv) leasing commissions, and (v) any other costs necessary or appropriate to relet the Premises; and
(e) At Landlord's election, such other amounts being discounted in addition to present value or in lieu of the foregoing as may be permitted from time to time by the laws of the state where the Shopping Center is located. As used in subparagraphs (a) and (b) of this Section, the "worth at a the time of award" is computed by allowing interest at the Interest Rate. As used in subparagraph (c) of this Section, the "worth at the time of award" is computed by discounting such amount at the discount rate of interest equal to 2% below the then Base Rate) less Federal Reserve Bank of San Francisco at the aggregate amount time of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingaward plus one percent (1%).
Appears in 1 contract
Samples: Lease Agreement (Play Co Toys & Entertainment Corp)
Landlord’s Damages. (a) If this Lease and the Term expires and comes to an end as provided in Article 19Term, or by or under any summary proceeding or any other action or proceedingTenant’s right to possession of the Premises, or if Landlord shall re-enter the Premises terminate as provided in Section 20.115.2, then, in any of such events:
(i) Tenant shall pay to Landlord all items of Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or prior to the date of re-entry upon the Premises by Landlord, as the case may betermination;
(ii) Landlord shall be entitled to may retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent Rent, a security deposit or otherwise, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month month, shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming the Additional Rent during such period to be the same as had been was payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii15.3(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises Premises, or any part thereof thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, deemed prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
(b) If the Premises, or any part thereof, shall be relet together with other space in the Building, the rents collected or reserved under any such reletting and the expenses of any such reletting shall be equitably apportioned for the purposes of this Section. Tenant shall not be entitled to any rents collected or payable under any reletting, whether or not such rents exceeds the Fixed Rent reserved in this Lease. Nothing contained in this Article shall be deemed to limit or preclude the recovery by Landlord from Tenant of the maximum amount allowed to be obtained as damages by any Requirement, or of any sums or damages to which Landlord may be entitled in addition to the damages set forth in this Section; provided, however, that Landlord shall only be entitled to one (1) full recovery for the breach of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Convio, Inc.)
Landlord’s Damages. If Landlord elects to terminate this Lease and the Term expires and comes Tenant's right to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter possession of the Premises in accordance with the provisions of this Lease, Landlord may recover from Tenant as provided in Section 20.1damages, then, in any all of such eventsthe following:
(i) Tenant shall pay to Landlord all The worth at the time of award of any unpaid Rent payable under this Lease by Tenant to Landlord up to and other charges which has been earned at the Expiration Date or to the date time of re-entry upon the Premises by Landlord, as the case may be;such termination; plus
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, which monies, to The worth at the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment time of installments award of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the unpaid Rent and other charges which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves Landlord could have reasonably avoided; plus
(iii) The worth at the time of award of the amount by which the unpaid Rent and other charges which Tenant would have paid for the period which otherwise would have constituted the unexpired portion balance of the Term (assuming Additional Rent during such period to be after the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) time of award exceeds the then fair and reasonable amount of such rental value loss that Tenant proves Landlord could have reasonably avoided; plus
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including without limitation, any costs or expenses incurred by Landlord in (a) maintaining or preserving the Premises after such default, (b) recovering possession of the Premises, for including reasonable attorneys' fees therefor, (c) expenses of reletting the same period Premises to a new tenant, including necessary renovations or alterations of the Premises, reasonable attorneys' fees incurred, and leasing commissions incurred; plus
(with both v) Such other amounts being discounted in addition to present value or in lieu of the foregoing as may be permitted from time to time by the laws of the State where the Shopping Center is located. As used in subparagraphs (i) and (ii) above, the "worth at a the time of award" is computed by allowing interest on unpaid amounts at the rate of interest equal 10% per annum. AS used in subparagraph (iii) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank located nearest to 2% below the then Shopping Center in effect at the time of award, plus 1%. For purposes of this Article 27, all Rent other than Annual Base Rate) less the aggregate Rent, shall, for purposes of calculating any amount of Deficiencies theretofore collected by Landlord pursuant to due under the provisions of Section 20.2(a)(iiisubparagraph (iii) for above, be computed on the same basis of the average monthly amount of Rent payable by Tenant during the immediately preceding 36 month period. If, except that if it becomes necessary to compute such rental before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion 36 months of the Term or any part thereofhas expired, then such Rent shall be computed on the basis of the average monthly amount of rent reserved upon Rent payable during such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.shorter period. ____________________ ______________________ Landlord Tenant
Appears in 1 contract
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19Lease Term, or by or under any summary proceeding or any other action or proceedingTenant’s right to possession of the Premises shall terminate, or if Landlord shall re-enter the Premises Premises, as provided in Section 20.1this Paragraph 12, then, in any of such events:
(i) Tenant shall pay to Landlord all items of Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or prior to the date of re-entry upon the Premises by Landlord, as the case may betermination or repossession;
(ii) Landlord shall be entitled to may retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent Rent, a security deposit or otherwise, which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installmentsinstallments over the balance of the Lease Term, on the days specified in this Lease for payment of installments of Fixed Base Rent, any “Deficiency” (as hereinafter defined); it being understood that Landlord shall be entitled to recover the Deficiency installment from Tenant each month as the same shall arise, and no suit to collect the amount of the Deficiency installment for any month month, shall prejudice Landlord’s right to collect the Deficiency installment for any subsequent month by a similar proceeding; and
(iv) whether or not Landlord shall have collected any monthly DeficiencyDeficiency installment, Tenant shall pay to Landlord, on demanddemand (the date of such payment is the “Payment Date”), at the election of Landlord, in lieu of any further Deficiency installments and as liquidated and agreed final damages, the Present Value (as hereinafter defined) plus any Deficiency Installments theretofore to have been paid, but which were not paid. Present Value is intended to reflect a sum equal to discounted value of the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Lease Term at the date of termination or repossession (assuming the Operating Expenses Additional Rent and Taxes Additional Rent during such period to be the same as had been was payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by four percent (4% %) (on a compounded basis)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) Premises for the same period. To find the Present Value, the difference described in the preceding sentence shall be calculated for each month of the period in question and such difference shall be discounted to the amount which, if invested on the Payment Date at 6% per annum, would yield on the date such monthly payment of Rent would have otherwise been due, in the amount of such difference; and the sum of all such differences so discounted shall be the “Present Value”. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises Premises, or any part thereof thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term Lease Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, deemed prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 1 contract
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, including removal and storage of Tenant’s property, (ii) the costs and expenses of restoring the Premises to the condition in which the same were to have been surrendered by Tenant as of the expiration of the Term, and (iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(ii) The damage sums payable by Tenant under the preceding provisions of this paragraph (d) shall be payable on demand from time to time as the amounts are determined; and if from Landlord’s subsequent receipt of rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be refunded by Landlord to Tenant, without interest.
(iii) Landlord may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period specific performance of any covenant or agreement contained herein, and for the enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of consequential damages (with both amounts consequential damages specifically being discounted limited to present value Tenant’s holdover or failure to surrender the Premises at a rate the expiration of interest equal the Lease) and all moneys due or to 2% below the then Base Rate) less the aggregate amount become due from Tenant under any of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 1 contract
Landlord’s Damages. If this Lease and the Term expires and comes to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Section 20.1, then, in any of such events:
(i1) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may be;
(ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as prepaid Rent or otherwise, The damages which monies, to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited by Landlord against any damages payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month shall be the sum of:
(A) all Fixed Rent and Additional Rent accrued and unpaid as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceedingtermination date; and
(ivB) whether or not (i) all costs and expenses incurred by Landlord shall have collected any monthly Deficiency, Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basis)) exceeds the then fair and reasonable rental value recovering possession of the Premises, for including removal and storage of Tenant's property, (ii) the costs and expenses of restoring the Premises to the condition in which the same period were to have been surrendered by Tenant as of the expiration of the Term, and (with both amounts being discounted iii) the costs of reletting commissions; and
(C) all Fixed Rent and Additional Rent (to the extent that the amount(s) of Additional Rent has been then determined) otherwise payable by Tenant over the remainder of the Term as reduced to present value at a rate value. Less deducting from the total determined under subparagraphs (A), (B) and (C) all Rent and all other Additional Rent to the extent determinable as aforesaid, (to the extent that like charges would have been payable by Tenant) which Landlord receives from other tenant(s) by reason of interest equal the leasing of the Premises or part during or attributable to any period falling within the otherwise remainder of the Term.
(2% below ) The damage sums payable by Tenant under the then Base Ratepreceding provisions of this paragraph (d) less shall be payable on demand from time to time as the aggregate amount amounts are determined; and if from Landlord's subsequent receipt of Deficiencies theretofore collected rent as aforesaid from reletting, there be any excess payment(s) by Tenant by reason of the crediting of such rent thereafter received, the excess payment(s) shall be promptly refunded by Landlord pursuant to Tenant, without interest.
(3) Landlord may enforce the provisions of Section 20.2(a)(iii) this Lease and may enforce and protect the rights of Landlord hereunder by a suit or suits in equity or at law for the same period. Ifspecific performance of any covenant or agreement contained herein, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof and for the period which otherwise would have constituted the unexpired portion enforcement of any other appropriate legal or equitable remedy, including, without limitation, injunctive relief, and for recovery of all moneys due or to become due from Tenant under any of the Term or any part thereof, the amount provisions of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the relettingthis Lease.
Appears in 1 contract
Samples: Full Service Lease (Ict Group Inc)
Landlord’s Damages. If Landlord terminates this Lease and the Term expires and comes or ends Tenant’s right to an end as provided in Article 19, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter possess the Premises as provided in Section 20.1without terminating this Lease pursuant to Paragraph 25(b) above, then, in any of such eventsTenant shall be liable to Landlord for the following:
(i) Tenant shall pay any Rent that may be due or damages sustained prior to Landlord all Rent payable under the termination of this Lease by Tenant or Tenant’s right to Landlord up to possess the Expiration Date or to the date of re-entry upon the Premises by Landlord, as the case may bePremises;
(ii) Landlord additional damages, which, at the election of Landlord, shall be entitled either:
(A) the present value of an amount equal to retain all monies(1) Rent that would have become due during the remainder of the Term had no Tenant Default existed, less (2) the fair market rental rate for the remainder of the Term of this Lease, each discounted at the current five (5) year treasury xxxx rate, in which case such additional damages shall be payable to Landlord in one lump sum; or
(B) an amount equal to the Rent that would have become due during the remainder of the Term had no Tenant Default existed, less any sums, if any, paid Landlord receives by Tenant to Landlordreletting the Premises during the Term, whether as prepaid Rent or otherwise, in which monies, to the extent not otherwise applied to amounts due and owing to Landlord, case such additional damages shall be credited by Landlord against any damages computed and payable by Tenant to Landlord;
(iii) Tenant shall pay to Landlord, in monthly installments, in advance, on the days specified in this first day of each calendar month and continuing until the date on which the Lease would have expired but for payment the termination of installments the Lease or termination of Fixed Rent, any Deficiency; it being understood that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same shall arisepossession, and no any suit or action brought to collect such monthly installments shall not in any manner prejudice the amount right of the Deficiency for any month shall prejudice Landlord’s right Landlord to collect the Deficiency such additional monthly installments for any subsequent month by a similar proceeding; and
(iviii) whether all reasonable costs, fees and expenses, including, but not limited to, storage fees, attorneys’, brokers’ and other professional fees, incurred by Landlord in pursuit of its remedies under this Lease or not in renting the Premises to others from time to time. The foregoing damages shall be due and payable immediately upon demand by Landlord and shall bear interest at the Default Rate until paid. Landlord shall have collected any monthly Deficiency, not be required to give Tenant shall pay to Landlord, on demand, in lieu notice of any further Deficiency and as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term (assuming Additional Rent during such period to be the same as had been payable for the year immediately preceding such termination or re-entry, increased in each succeeding year by 4% (on a compounded basisits elections under this Paragraph 25(c)) exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 20.2(a)(iii) for the same period. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, Landlord shall have relet the Premises or any part thereof for the period which otherwise would have constituted the unexpired portion of the Term or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.
Appears in 1 contract
Samples: Lease Agreement (Accuro Healthcare Solutions, Inc.)