Landlord's Remedies in the Event of Default. In the event of any event of default, Landlord shall have the option, without further notice to Tenant or further demand for performance exercise any one or more of the following remedies (and any other remedy available at law or in equity): 23.2.1 If Tenant has been late in payment of rent or other sums due on four or more occasions during any period of one year, Landlord, without terminating this lease, may 1) require that all future payments be made by bank cashier's check, and/or 2) require an additional security deposit in the amount of the then-current base rent for two months, and/or 3) require that rent for each month be paid on or before the 15th day of the preceding month. Such requirement shall be imposed by Landlord's written notice delivered to Tenant. The additional security deposit shall be paid within 10 days after delivery of the notice. The Landlord may or may not exercise the remedies provided in this Paragraph 23.2.1, in its sole discretion. The exercise of the remedies provided in this Paragraph 23.2.1 shall not be required prior to the exercise of any other available remedy. 23.2.2 Provided Landlord uses reasonable efforts to seek a new tenant, to institute suit against Tenant to collect each installment of rent or other sum as it becomes due or to enforce any other obligation under this lease even though the premises be left vacant. 23.2.3 As a matter of right, to procure the appointment of a receiver for the premises by any court of competent jurisdiction upon ex parte application. All rents, issues and profits, income and revenue from the premises shall be applied by such receiver to the payment of the rent, together with any other obligations of the Tenant under this lease. 23.2.4 To re-enter and take possession of the premises and all personal property therein in which the Landlord has a valid security interest and to remove Tenant and Tenant's agents and employees therefrom, and either: 1) terminate this lease and xxx Tenant for damages for breach of the obligations of Tenant to Landlord under this lease; or 2) without terminating this lease, relet, assign or sublet the premises and personal property, as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the terms and conditions Landlord deems fit with the new Tenant for such period (which may be greater or less than the period which would otherwise have constituted the balance of the term of this lease) as Landlord may deem best, and collect any rent due upon any such reletting. In this event, the rents received on any such reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, all repossession costs, reasonable attorneys' fees, and real estate brokers' commissions, alteration costs and expenses of preparing said premises for reletting, and thereafter toward payment of the rental and of any other amounts payable by Tenant to Landlord. If the sum realized shall not be sufficient to pay the rent and other charges due from Tenant, then within five days after demand, Tenant will pay to Landlord any deficiency as it accrues. Landlord may xxx therefor as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limited.
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Samples: Lease Agreement (Displaytech Inc), Lease Agreement (Displaytech Inc), Lease Agreement (Displaytech Inc)
Landlord's Remedies in the Event of Default. In the event of any event of default, Landlord shall have the option, without further notice to Tenant or further demand for performance exercise any one or more of the following remedies (and any other remedy available at law or in equity):
23.2.1 If Tenant has been late in payment of rent or other sums due on four or more occasions during any period of one year, Landlord, without terminating this lease, may 1) require that all future payments be made by bank cashier's check, and/or 2) require an additional security deposit in the amount of the then-current base rent for two months, and/or 3) require that rent for each month be paid on or before the 15th day of the preceding month. Such requirement shall be imposed by Landlord's written notice delivered to Tenant. The additional security deposit shall be paid within 10 days after delivery of the notice. The Landlord may or may not exercise the remedies provided in this Paragraph 23.2.1, in its sole discretion. The exercise of the remedies provided in this Paragraph 23.2.1 shall not be required prior to the exercise of any other available remedy.
23.2.2 Provided Landlord uses reasonable efforts Without obligation to seek a new tenant, to institute suit against Tenant to collect each installment of rent or other sum as it becomes due or to enforce any other obligation under this lease even though the premises Premises be left vacant.
23.2.3 As a matter of right, to procure the appointment of a receiver for the premises Premises by any court of competent jurisdiction upon ex parte applicationjurisdiction. All rents, issues and profits, income and revenue from the premises Premises shall be applied by such receiver to the payment of the rent, together with any other obligations of the Tenant under this lease.
23.2.4 To re-enter and take possession of the premises Premises and all personal property therein in which the Landlord has a valid security interest and to remove Tenant and Tenant's agents and employees therefrom, and either:
1) terminate this lease and xxx Tenant for damages for breach of the obligations of Tenant to Landlord under this lease; or
2) without terminating this lease, relet, assign or sublet the premises and personal property, Premises as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the terms and conditions Landlord deems fit with the new Tenant for such period (which may be greater or less than the period which would otherwise have constituted the balance of the term of this lease) as Landlord may deem best, and collect any rent due upon any such reletting. In this event, the rents received on any such reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, all repossession costs, reasonable attorneys' fees, and real estate brokers' commissions, alteration costs and expenses of preparing said premises Premises for reletting, and thereafter toward payment of the rental and of any other amounts payable by Tenant to Landlord. If the sum realized shall not be sufficient to pay the rent and other charges due from Tenant, then within five days after demand, Tenant will pay to Landlord any deficiency as it accrues. Landlord may xxx therefor as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limited.
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Landlord's Remedies in the Event of Default. In the event of any event of default, Landlord shall have the option, without further notice to Tenant or further demand for performance exercise any one or more of the following remedies (and any other remedy available at law or in equity):
23.2.1 If Tenant has been late in payment of rent or other sums due on four or more occasions during any period of one year, Landlord, without terminating this lease, may 1) require that all future payments be made by bank cashier's cashiers check, and/or 2) require an additional security deposit in the amount of the then-then current base rent for two months, and/or 3) require that rent for each month be paid on or before the 15th day of the preceding month. Such requirement shall be imposed by Landlord's ’s written notice delivered to Tenant. The additional security deposit shall be paid within 10 days after delivery of the notice. The Landlord may or may not exercise the remedies provided in this Paragraph 23.2.1, in its sole discretion. The exercise of the remedies provided in this Paragraph 23.2.1 shall not be required prior to the exercise of any other available remedy.
23.2.2 Provided Landlord uses reasonable efforts Without obligation to seek a new tenant, to institute suit against Tenant to collect each installment of rent or other sum as it becomes due or to enforce any other obligation under this lease even though the premises Premises be left vacant.
23.2.3 As a matter of right, to procure the appointment of a receiver for the premises by any court of competent jurisdiction upon ex parte application. All rents, issues and profits, income and revenue from the premises shall be applied by such receiver to the payment of the rent, together with any other obligations of the Tenant under this lease.
23.2.4 To re-enter and take possession of the premises Premises and all personal property therein in which the Landlord has a valid security interest and to remove Tenant and Tenant's ’s agents and employees therefrom, and either:
1) terminate this lease and xxx Tenant for damages for breach of the obligations of Tenant to Landlord under this lease; or
2) without terminating this lease, relet, assign or sublet the premises Premises and personal property, as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the terms and conditions Landlord deems fit with the new Tenant for such period (which may be greater or less than the period which would otherwise have constituted the balance of the term of this lease) as Landlord may deem best, and collect any rent due upon any such reletting. In this event, the rents received on any such reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, all repossession costs, reasonable attorneys' ’ fees, and real estate brokers' commissionsbrokers’commissions, alteration costs and expenses of preparing said premises Premises for reletting, and thereafter toward payment of the rental and of any other amounts payable by Tenant to Landlord. If the sum realized shall not be sufficient to pay the rent and other charges due from Tenant, then within five days after demand, Tenant will pay to Landlord any deficiency as it accrues. Landlord may xxx therefor as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limited.
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Landlord's Remedies in the Event of Default. In the event of any event of default, Landlord shall have the option, without further notice to Tenant or further demand for performance exercise any one or more of the following remedies (and any other remedy available at law or in equity):
23.2.1 If Tenant has been late in payment of rent or other sums due on four or more occasions during any period of one year, Landlord, without terminating this lease, may 1) require that all future payments be made by bank cashier's check, and/or 2) require an additional security deposit in the amount of the then-current base rent for two months, and/or 3) require that rent for each month be paid on or before the 15th day of the preceding month. Such requirement shall be imposed by Landlord's written notice delivered to Tenant. The additional security deposit shall be paid within 10 days after delivery of the notice. The Landlord may or may not exercise the remedies provided in this Paragraph 23.2.1, in its sole discretion. The exercise of the remedies provided in this Paragraph 23.2.1 shall not be required prior to the exercise of any other available remedy.
23.2.2 Provided Landlord uses reasonable efforts Without obligation to seek a new tenant, to institute suit against Tenant to collect each installment of rent or other sum as it becomes due or to enforce any other obligation under this lease even though the premises Premises be left vacant.
23.2.3 As a matter of right, to procure the appointment of a receiver for the premises Premises by any court of competent jurisdiction upon ex parte applicationapplication and without notice, notice being hereby expressly waived. All rents, issues and profits, income and revenue from the premises Premises shall be applied by such receiver to the payment of the rent, together with any other obligations of the Tenant under this lease.
23.2.4 To re-enter and take possession of the premises Premises and all personal property therein in which the Landlord has a valid security interest and to remove Tenant and Tenant's agents and employees therefrom, and either:
1) terminate this lease and xxx Tenant sue Xxxant for damages for breach of the obligations of Tenant to Landlord under this lease; or
2) without terminating this lease, relet, assign or sublet the premises and personal property, Premises as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the terms and conditions Landlord deems fit with the new Tenant for such period (which may be greater or less than the period which would otherwise have constituted the balance of the term of this lease) as Landlord may deem best, and collect any rent due upon any such reletting. In this event, the rents received on any such reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, all repossession costs, reasonable attorneys' fees, and real estate brokers' commissions, alteration costs and expenses of preparing said premises Premises for reletting, and thereafter toward payment of the rental and of any other amounts payable by Tenant to Landlord. If the sum realized shall not be sufficient to pay the rent and other charges due from Tenant, then within five days after demand, Tenant will pay to Landlord any deficiency as it accrues. Landlord may xxx therefor sue xxxrefor as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limited.
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Landlord's Remedies in the Event of Default. In the event of any event of default, Landlord shall have the option, without further notice to Tenant or further demand for performance exercise any one or more of the following remedies (and any other remedy available at law or in equity):
23.2.1 If Tenant has been late in payment of rent or other sums due on four or more occasions during any period of one year, Landlord, without terminating this lease, may 1) require that all future payments be made by bank cashier's cashiers check, and/or 2) require an additional security deposit in the amount of the then-then current base rent for two months, and/or 3) require that rent for each month be paid on or before the 15th day of the preceding month. Such requirement shall be imposed by Landlord's written notice delivered to Tenant. The additional security deposit shall be paid within 10 days after delivery of the notice. The Landlord may or may not exercise the remedies provided in this Paragraph 23.2.1, in its sole discretion. The exercise of the remedies provided in this Paragraph 23.2.1 shall not be required prior to the exercise of any other available remedy.
23.2.2 Provided Landlord uses reasonable efforts Without obligation to seek a new tenant, to institute suit against Tenant to collect each installment of rent or other sum as it becomes due or to enforce any other obligation under this lease even though the premises Premises be left vacant.
23.2.3 As a matter of right, to procure the appointment of a receiver for the premises by any court of competent jurisdiction upon ex parte application. All rents, issues and profits, income and revenue from the premises shall be applied by such receiver to the payment of the rent, together with any other obligations of the Tenant under this lease.
23.2.4 To re-enter and take possession of the premises Premises and all personal property therein in which the Landlord has a valid security interest and to remove Tenant and Tenant's agents and employees therefrom, and either:
1) terminate this lease and xxx Tenant for damages for breach of the obligations of Tenant to Landlord under this lease; or
2) without terminating this lease, relet, assign or sublet the premises Premises and personal property, as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the terms and conditions Landlord deems fit with the new Tenant for such period (which may be greater or less than the period which would otherwise have constituted the balance of the term of this lease) as Landlord may deem best, and collect any rent due upon any such reletting. In this event, the rents received on any such reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, all repossession costs, reasonable attorneys' fees, and real estate brokers' commissions, alteration costs and expenses of preparing said premises Premises for reletting, and thereafter toward payment of the rental and of any other amounts payable by Tenant to Landlord. If the sum realized shall not be sufficient to pay the rent and other charges due from Tenant, then within five days after demand, Tenant will pay to Landlord any deficiency as it accrues. Landlord may xxx therefor as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limited.
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Landlord's Remedies in the Event of Default. In the event of any event of default, Landlord shall have the option, without further notice to Tenant or further demand for performance exercise any one or more of the following remedies (and any other remedy available at law or in equity):
23.2.1 24.2.1 If Tenant has been late in payment of rent or other sums due on four or more occasions during any period of one year, . Landlord, without terminating this lease, may (1) require that all future payments be made by bank cashier's check, and/or (2) require an additional security deposit in the amount of the then-current base rent for two months, and/or (3) require that rent for each month be paid on or before the 15th day of the preceding month. Such requirement shall be imposed by Landlord's written notice delivered to Tenant. The additional security deposit shall be paid within 10 days after delivery of the notice. The Landlord may or may not exercise the remedies provided in this Paragraph 23.2.124.2.1, in its sole discretion. The exercise of the remedies provided in this Paragraph 23.2.1 24.2.1 shall not be required prior to the exercise of any other available remedy.
23.2.2 Provided Landlord uses reasonable efforts 24.2.2 Without obligation to seek a new tenant, to institute suit against Tenant to collect each installment of rent or other sum as it becomes due or to enforce any other obligation under this lease even though the premises be left vacant.
23.2.3 24.2.3 As a matter of right, to procure the appointment of a receiver for the premises by any court of competent jurisdiction upon ex parte applicationapplication and without notice, notice being hereby expressly waived. All rents, issues and profits, income and revenue from the premises shall be applied by such receiver to the payment of the rent, together with any other obligations of the Tenant under this lease.
23.2.4 24.2.4 To re-enter and take possession of the premises and all personal property therein in which the Landlord has a valid security interest and to remove Tenant and Tenant's agents and employees therefrom, and either:
1) terminate this lease and xxx Tenant for damages for breach of the obligations of Tenant to Landlord under this lease; or
2) without terminating this lease, relet, assign or sublet the premises and personal property, as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the terms and conditions Landlord deems fit with the new Tenant for such period (which may be greater or less than the period which would otherwise have constituted the balance of the term of this lease) as Landlord may deem best, and collect any rent due upon any such reletting. In this event, the rents received on any such such, reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, all repossession costs, reasonable attorneys' fees, and real estate brokers' commissions, alteration costs and expenses of preparing said premises for reletting, and thereafter toward payment of the rental and of any other amounts payable by Tenant to Landlord. If the sum realized shall not be sufficient to pay the rent and other charges due from Tenant, then within five days after demand, Tenant will pay to Landlord any deficiency as it accrues. Landlord may xxx therefor as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limited.
Appears in 1 contract
Samples: Lease Agreement (Vastera Inc)
Landlord's Remedies in the Event of Default. In the event of any event of default, Landlord shall have the option, without further notice to Tenant or further demand for performance exercise any one or more of the following remedies (and any other remedy available at law or in equity):
23.2.1 22.2.1 If Tenant has been late in payment of rent Rent or other sums due on four or more occasions during any period of one year, Landlord, without terminating this leaseLease, may 1) require that all future payments be made by bank cashier's ’s check, and/or 2) require an additional security deposit in the amount of the then-current base rent Base Rent for two months, and/or 3) require that rent Rent for each month be paid on or before the 15th day of the preceding month. Such requirement shall be imposed by Landlord's ’s written notice delivered to Tenant. The additional security deposit shall be paid within 10 days after delivery of the notice. The Landlord may or may not exercise the remedies provided in this Paragraph 23.2.1Section 22.2.1, in its sole discretion. The exercise of the remedies provided in this Paragraph 23.2.1 Section 22.2.1 shall not be required prior to the exercise of any other available remedy.
23.2.2 Provided Landlord uses reasonable efforts 22.2.2 Without obligation to seek a new tenant, to institute suit against Tenant to collect each installment of rent Rent or other sum as it becomes due or to enforce any other obligation under this lease Lease even though the premises Premises be left vacant.
23.2.3 22.2.3 As a matter of right, to procure the appointment of a receiver for the premises Premises by any court of competent jurisdiction upon ex parte applicationapplication and without notice, notice being hereby expressly waived. All rents, issues and profits, income and revenue from the premises Premises shall be applied by such receiver to the payment of the rent, together with any other obligations of the Tenant under this leaseLease.
23.2.4 22.2.4 To re-enter and take possession of the premises Premises and all personal property therein in which the Landlord has a valid security interest and to remove Tenant and Tenant's ’s agents and employees therefrom, and either:
1a) terminate this lease Lease and xxx sxx Tenant for damages for breach of the obligations of Tenant to Landlord under this leaseLease; or
2b) without terminating this leaseLease, relet, assign or sublet the premises Premises and personal property, as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the terms and conditions Landlord deems fit with the new Tenant for such period (which may be greater or less than the period which would otherwise have constituted the balance of the term of this leaseTerm) as Landlord may deem best, and collect any rent Rent due upon any such reletting. In this event, the rents received on any such reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, all repossession costs, reasonable attorneys' ’ fees, and real estate brokers' ’ commissions, alteration costs and expenses of preparing said premises Premises for reletting, and thereafter toward payment of the rental Base Rent and of any other amounts payable by Tenant to Landlord. If the sum realized shall not be sufficient to pay the rent Rent and other charges due from Tenant, then within five days after demand, Tenant will pay to Landlord any deficiency as it accrues. Landlord may xxx sxx therefor as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limitedlimit.
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Landlord's Remedies in the Event of Default. In the event of any event of default, Landlord shall have the option, without further notice to Tenant or further demand for performance performance, to exercise any one or more of the following remedies (and any other remedy available at law or in equity):
23.2.1 21.2.1 If Tenant has been late in payment of rent Rent or other sums due on four or more occasions during any period of one year, Landlord, without terminating this leaseLease, may 1) require that all future payments be made by bank cashier's check, and/or 2) require an additional security deposit in the amount of the then-current base rent Base Rent for two months, and/or 3) require that rent Rent for each month be paid on or before the 15th day of the preceding month. Such requirement shall be imposed by Landlord's written notice delivered to Tenant. The additional security deposit shall be paid within 10 days after delivery of the notice. The Landlord may or may not exercise the remedies provided in this Paragraph 23.2.1Section 21.2.1, in its sole discretion. The exercise of the remedies provided in this Paragraph 23.2.1 Section 21.2.1 shall not be required prior to the exercise of any other available remedy.
23.2.2 Provided Landlord uses reasonable efforts 21.2.2 Without obligation to seek a new tenant, to institute suit against Tenant to collect each installment of rent Rent or other sum as it becomes due or to enforce any other obligation under this lease Lease even though the premises Premises be left vacant.
23.2.3 21.2.3 As a matter of right, to procure the appointment of a receiver for the premises Premises by any court of competent jurisdiction upon ex parte applicationapplication and without notice, notice being hereby expressly waived. All rents, issues and profits, income and revenue from the premises Premises shall be applied by such receiver to the payment of the rent, together with any other obligations of the Tenant under this leaseLease.
23.2.4 21.2.4 To re-enter and take possession of the premises Premises and all personal property therein in which the Landlord has a valid security interest and to remove Tenant and Tenant's agents and employees therefrom, and either:
1a) terminate this lease Lease and xxx Tenant for damages for breach of the obligations of Tenant to Landlord under this leaseLease; or
2b) without terminating this leaseLease, relet, assign or sublet the premises Premises and personal property, as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the terms and conditions Landlord deems fit with the new Tenant tenant for such period (which may be greater or less than the period which would otherwise have constituted the balance of the term of this leaseTerm) as Landlord may deem best, and collect any rent Rent due upon any such reletting. In this event, the rents received on any such reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, all repossession costs, reasonable attorneys' fees, and real estate brokers' commissions, alteration costs and expenses of preparing said premises Premises for reletting, and thereafter toward payment of the rental Base Rent and of any other amounts payable by Tenant to Landlord. If the sum realized shall not be sufficient to pay the rent Rent and other charges due from Tenant, then within five days after demand, Tenant will pay to Landlord any deficiency as it accrues. Landlord may xxx therefor as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limitedlimit. Landlord agrees to use commercially reasonable efforts in order to mitigate its damages following any event of default by Tenant under this Lease beyond any applicable period of notice and cure; provided, however, nothing shall require Landlord to (i) attempt to re-lease the Premises unless and until Landlord obtains possession of the Premises, or (ii) lease the Premises in smaller increments than a full floor (except with respect to portions of the Premises located on multi-tenant floors, if any, in which event there shall be no minimum increment for such portions).
Appears in 1 contract
Samples: Lease Agreement (ChromaDex Corp.)
Landlord's Remedies in the Event of Default. In the event of any event of default, Landlord shall have the option, without further notice to Tenant or further demand for performance exercise any one or more of the following remedies (and any other remedy available at law or in equity):
23.2.1 If Tenant has been late in payment of rent or other sums due on four or more occasions during any period of one year, Landlord, without terminating this leaseLease, may 1) require that all future payments be made by bank cashier's cashier check, and/or 2) require an additional security deposit in the amount of the then-then current base rent for two months, and/or 3) require that rent for each month be paid on or before the 15th day of the preceding month. Such requirement shall be imposed by Landlord's ’s written notice delivered to Tenant. The additional security deposit deposits shall be paid within 10 days after delivery of the notice. The Landlord may or may not exercise the remedies provided in this its Paragraph 23.2.1, in its sole discretion. The exercise of the remedies provided in this Paragraph 23.2.1 shall not be required prior to the exercise of any other available remedy.
23.2.2 Provided Landlord uses reasonable efforts Without obligation to seek a new tenant, to institute suit against Tenant to collect each installment of rent or other sum as it becomes due or to enforce any other obligation under this lease Lease even though the premises Premises be left vacant.
23.2.3 As a matter of right, to procure the appointment of a receiver for the premises by any court of competent jurisdiction upon ex parte application. All rents, issues and profits, income and revenue from the premises shall be applied by such receiver to the payment of the rent, together with any other obligations of the Tenant under this lease.
23.2.4 To re-enter and take possession of the premises Premises and all personal property therein in which the Landlord has a valid security interest and to remove Tenant and Tenant's ’s agents and employees therefrom, and either:
(1) terminate this lease Lease and xxx sxx Tenant for damages for breach of the obligations of Tenant to Landlord under this leaseLease; or
(2) without terminating this leaseLease, relet, assign or sublet the premises Premises and personal property, as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the terms and conditions Landlord deems fit with the new Tenant for such period (which may be greater or less than the period which would otherwise have constituted the balance of the term of this leaseLease) as Landlord may deem best, and collect any rent due upon any such reletting. In this event, the rents received on any such reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, all repossession costs, reasonable attorneys' ’ fees, and real estate brokers' commissions’ commission, alteration costs and expenses of preparing said premises and Premises for reletting, and thereafter toward payment of the rental and of any other amounts payable by Tenant to Landlord. If the sum realized shall not be sufficient to pay the rent and other charges charge due from Tenant, then within five days after demand, Tenant will pay to Landlord any deficiency as it accrues. Landlord may xxx therefor sxx therefore as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limited.
Appears in 1 contract
Samples: Lease Agreement (Pelion Systems Inc)
Landlord's Remedies in the Event of Default. In the event of any event of default, Landlord shall have the option, without further notice to Tenant or further demand for performance performance, to exercise any one or more of the following remedies (and any other remedy available at law or in equity):
23.2.1 22.2.1 If Tenant has been late in payment of rent Rent or other sums due on four or more occasions during any period of one year, Landlord, without terminating this leaseLease, may 1) require that all future payments be made by bank cashier's check, and/or 2) require an additional security deposit in the amount of the then-current base rent Base Rent for two months, and/or 3) require that rent Rent for each month be paid on or before the 15th day of the preceding month. Such requirement shall be imposed by Landlord's written notice delivered to Tenant. The additional security deposit shall be paid within 10 days after delivery of the notice. The Landlord may or may not exercise the remedies provided in this Paragraph 23.2.1Section 22.2.1, in its sole discretion. The exercise of the remedies provided in this Paragraph 23.2.1 Section 22.2.1 shall not be required prior to the exercise of any other available remedy.
23.2.2 Provided Landlord uses reasonable efforts 22.2.2 Without obligation to seek a new tenant, to institute suit against Tenant to collect each installment of rent Rent or other sum as it becomes due or to enforce any other obligation under this lease Lease even though the premises Premises be left vacant.
23.2.3 22.2.3 As a matter of right, to procure the appointment of a receiver for the premises Premises by any court of competent jurisdiction upon ex parte applicationapplication and without notice, notice being hereby expressly waived. All rents, issues and profits, income and revenue from the premises Premises shall be applied by such receiver to the payment of the rent, together with any other obligations of the Tenant under this leaseLease.
23.2.4 22.2.4 To re-enter and take possession of the premises Premises and all personal property therein in which the Landlord has a valid security interest and to remove Tenant and Tenant's agents and employees therefrom, and either:
1a) terminate this lease Lease and xxx Tenant for damages for breach of the obligations of Tenant to Landlord under this leaseLease; or
2b) without terminating this leaseLease, relet, assign or sublet the premises Premises and personal property, as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the terms and conditions Landlord deems fit with the new Tenant for such period (which may be greater or less than the period which would otherwise have constituted the balance of the term of this leaseTerm) as Landlord may deem best, and collect any rent Rent due upon any such reletting. In this event, the rents received on any such reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, all repossession costs, reasonable attorneys' fees, and real estate brokers' commissions, alteration costs and expenses of preparing said premises Premises for reletting, and thereafter toward payment of the rental Base Rent and of any other amounts payable by Tenant to Landlord. If the sum realized shall not be sufficient to pay the rent Rent and other charges due from Tenant, then within five days after demand, Tenant will pay to Landlord any deficiency as it accrues. Landlord may xxx therefor as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limitedlimit.
Appears in 1 contract
Landlord's Remedies in the Event of Default. In the event of any event of default, Landlord shall have the option, without further notice to Tenant or further demand for performance exercise any one or more of the following remedies (and any other remedy available at law or in equity):
23.2.1 If Tenant has been late in payment of rent or other sums due on four or more occasions during any period of one year, Landlord, without terminating this leaseLease, may 1) require that all future payments be made by bank cashier's check, and/or 2) require an additional security deposit in the amount of the then-current base rent for two months, and/or 3) require that rent for each month be paid on or before the 15th day of the preceding month. Such requirement shall be imposed by Landlord's written notice delivered to Tenant. The additional security deposit shall be paid within 10 days after delivery of the notice. The Landlord may or may not exercise the remedies provided in this Paragraph 23.2.1, in its sole discretion. The exercise of the remedies provided in this Paragraph 23.2.1 shall not be required prior to the exercise of any other available remedy.
23.2.2 Provided Landlord uses reasonable efforts Without obligation to seek a new tenant, to institute suit against Tenant to collect each installment of rent or other sum as it becomes due or to enforce any other obligation under this lease Lease even though the premises Premises be left vacant.
23.2.3 As a matter of right, to procure the appointment of a receiver for the premises Premises by any court of competent jurisdiction upon ex parte applicationapplication and without notice, notice being hereby expressly waived. All rents, issues and profits, income and revenue from the premises Premises shall be applied by such receiver to the payment of the rent, together with any other obligations of the Tenant under this leaseLease.
23.2.4 To re-enter and take possession of the premises Premises and all personal property therein in which the Landlord has a valid security interest and to remove Tenant and Tenant's agents and employees therefrom, and either:
1a) terminate this lease Lease and xxx Tenant sue Xxxant for damages for breach of the obligations of Tenant to Landlord under this leaseLease; or
2b) without terminating this leaseLease, relet, assign or sublet the premises Premises and personal property, as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the terms and conditions Landlord deems fit with the new Tenant for such period (which may be greater or less than the period which would otherwise have constituted the balance of the term of this leaseLease) as Landlord may deem best, and collect any rent due upon any such reletting. In this event, the rents received on any such reletting shall be applied first to the expenses of reletting and collecting, including, without limitation, all repossession costs, reasonable attorneys' fees, and real estate brokers' commissions, alteration costs and expenses of preparing said premises Premises for reletting, and thereafter toward payment of the rental and of any other amounts payable by Tenant to Landlord. If the sum realized shall not be sufficient to pay the rent and other charges due from Tenant, then within five days after demand, Tenant will pay to Landlord any deficiency as it accrues. Landlord may xxx therefor as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limited.the
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Samples: Lease Agreement (Maxtor Corp)