Common use of Landlord’s Remedies Clause in Contracts

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease.

Appears in 4 contracts

Samples: Office Lease (Pegasus Systems Inc), Office Lease (Pegasus Systems Inc), Office Lease (Pegasus Systems Inc)

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Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Upon the occurrence of an Event of Default, Landlord may terminate this Lease by giving to Tenant notice may, immediately or at any time thereafter (notwithstanding any license or waiver of any former breach or waiver of the Landlord's intention to do sobenefit hereof, or consent in which event the Term shall enda former instance), and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of enter the Premises or any part thereof and repossess the same as of its former estate in accordance with law, or terminate this Lease by written notice to Tenant, and in either event expel Tenant and those claiming through or under it and remove their effects (forcibly, if necessary) in compliance with law without being deemed guilty of any manner of trespass and without prejudice to any remedy which might otherwise be used for arrears of Base Rent or Additional Rent or breach of covenant, and upon entry or written notice of termination, or automatic termination, both as aforesaid, this Lease shall cease on terminate and Landlord, in addition to all other remedies which it may have at law or equity, and not in limitation thereof, shall have the date stated remedies provided in such notice but Tenant's this Article XII. No termination of this Lease and/or repossession of the Premises pursuant to this Section 12.2(a) shall relieve Tenant of its obligations under this Lease, which shall survive such termination or repossession. (b) From the termination of this Lease pursuant to Section 12.2(a) through the remainder of the Lease Term, until such time, if any, that Landlord exercises its right pursuant to Section 12.2(c), Tenant shall continue pay to Landlord the Base Rent and Additional Rent in full force installments as and effect; andwhen the same become due and payable, subject to reduction by any rent and additional rent actually received by Landlord as a result of a re-letting of the Premises (net of the reasonable costs of re-letting, including remodeling costs, brokerage commissions and reasonable attorneys’ fees). Landlord shall exercise commercially reasonable efforts to re-let the Premises to mitigate damages, and Landlord may re let the Premises or any part or parts thereof for a term or terms which may, at Landlord’s option, be less than or exceed the period which would otherwise have constituted the balance of the Lease Term and may grant concessions or free rent. The good faith failure of Landlord to re let the Premises or any part or parts thereof, or, if the Premises are re let, the good faith failure to collect the rents due under such re letting, shall not release or affect Tenant’s liability for damage so long as Landlord does not act arbitrarily or capriciously. Any suit brought to collect the amount of deficiency for any month or other period shall not prejudice in any way the right of Landlord to collect the deficiency for any subsequent month or period by a similar proceeding. Landlord, at Landlord’s option, may make such alterations, repairs, replacements and decorations to the Premises as Landlord in Landlord’s sole but reasonable judgment considers advisable and necessary for the purpose of re letting the Premises, and the making of such alterations or decorations shall not operate or be construed to release Tenant from liability hereunder. (c) Landlord may enforce At Landlord’s option exercisable by written notice given to Tenant upon or after the provisions termination of this Lease pursuant to Section 12.2(a), Tenant shall forthwith pay to Landlord as damages, in addition to all sums which were due prior to the exercise of such option by Landlord, a sum equal to the amount by which the Base Rent and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law Additional Rent for the specific performance remainder of any covenant or agreement contained herein, or the Lease Term exceeds the fair rental value of the Premises determined as of the termination date for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any remainder of the provisions Lease Term, discounted to present value at the then-applicable federal discount rate. For the purposes of computing damages payable pursuant to this LeaseSection 12.2(c), the annual Additional Rent with respect to Taxes, Insurance Costs and Operating Costs for the remainder of the Lease Term will be assumed to be such Additional Rent for the most recently ended fiscal, calendar or lease year, as the case may be.

Appears in 4 contracts

Samples: Lease Agreement (Morphic Holding, Inc.), Lease Agreement (Morphic Holding, Inc.), Lease Agreement (Morphic Holding, Inc.)

Landlord’s Remedies. If a Default occursUpon occurrence of any default by Tenant under this Lease and (i) if the event of default described in Section 8.1(a) is not cured within five (5) days after written notice from Landlord of such default; provided, however, Landlord shall only be obligated to provide such written notice to Tenant once in each Lease Year and thereafter, Tenant shall be in default if it shall fail to pay any Rent or other monetary charge due from Tenant hereunder as and when due and payable; (ii) if the events described in Sections 8.1(b), (d), (f) and (g) are not cured within thirty (30) days after written notice from Landlord of such default; provided, however, that if the nature of Tenant’s default under Section 8.1(b) is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall be afforded such additional period of time not to exceed an additional thirty (30) days within which to cure such default as shall be reasonable under the circumstance, if and so long as Tenant commenced to cure within the first thirty (30) day period and diligently prosecuted the cure thereof to completion within such additional thirty (30) day period; or (iii) with no additional notice and cure period for events of defaults described in Sections 8.1(c), (e), and (h), the Landlord shall have the option to do and perform any one or more of the following rights and remedies, which shall be distinct, separate and cumulativein addition to, and which may be exercised by Landlord concurrently or consecutively not in any combination and which shall not operate to exclude or deprive Landlord of limitation of, any other remedy or right or remedy which Landlord may have in permitted it by law or equityin equity or by this Lease: (a) Landlord may terminate Continue this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall endfull force and effect, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; andeffect as long as Landlord does not terminate this Lease, and Landlord shall have the right to collect Rent, Additional Rent and other charges when due. (b) Terminate this Lease, and Landlord may in accordance within applicable laws forthwith repossess the Premises and be entitled to recover as damages a sum of money equal to the total of (i) the cost of recovering the Premises, (ii) the cost of removing and storing Tenant’s or any other occupant’s property, (iii) the unpaid Rent and any other sums accrued hereunder at the date of termination, (iv) a sum equal to the amount, if any, by which the present value of the total Rent and other benefits which would have accrued to Landlord under this Lease for the remainder of the Term, if the terms of this Lease had been fully complied with by Tenant, discounted at eight percent (8%) per annum exceeds the total fair market value of the Premises for the balance of the Term, also discounted back to present value at eight percent (8%) per annum (it being the agreement of the parties hereto that Landlord shall receive the benefit of its bargain), (v) the cost of reletting the Premises including, without limitation, the cost of restoring the Premises to the condition necessary to rent the Premises at the prevailing market rental rate, normal wear and tear excepted, (vi) any increase in insurance premiums caused by the vacancy of the Premises, (vii) amount of any unamortized improvements to the Premises paid for by Landlord, (viii) the amount of any unamortized brokerage commissions or other costs paid, (ix) the cost of decorations, repairs, changes, alterations and additions to the Premises, (x) the cost of any brokerage fees or commissions payable by Landlord in connection with any reletting or attempted reletting, (xi) any other sum of money or damages owed by Tenant to Landlord. In the event Landlord shall elect to terminate this Lease, Landlord shall at once have all the rights of reentry upon the Premises available under North Carolina law, without becoming liable for damages, or guilty of trespass. (c) Terminate Tenant’s right of occupancy of the Premises and reenter and repossess the Premises by entry, forcible entry or detainer suit or otherwise, without demand or notice of any kind to Tenant and without terminating this Lease, without acceptance of surrender of possession of the Premises, and without becoming liable for damages or guilty of trespass, in which event Landlord may enforce shall use reasonable efforts to relet the provisions Premises or any part thereof for the account of Tenant, but only to the extent provided in Section 8.3 hereinbelow (provided that in no event shall Landlord be under any obligation to relet the Premises before Landlord relets or leases any other portion of the Project or any other property under the ownership or control of Landlord) for a period equal to or lesser or greater than the remainder of the Term of the Lease on whatever terms and conditions as Landlord, at Landlord’s sole discretion, deems advisable. Tenant shall be liable for and shall pay to Landlord all Rent payable by Tenant under this Lease (plus interest at the past due rate provided in Section 3.1(c) of this Lease if in arrears) plus an amount equal to (i) the cost of recovering possession of the Premises, (ii) the reasonable cost of removing and may enforce storing any of Tenant’s or any other occupant’s property left on the Premises or the Project after reentry, (iii) the cost of repairs, changes, alterations and protect additions to the rights or Landlord hereunder by a suit or suits in equity or at law for Premises and the specific performance Project, (iv) the cost of any covenant attempted reletting or agreement contained herein, or for reletting and the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any collection of the provisions of this Lease.rent accruing from such reletting,

Appears in 4 contracts

Samples: Lease Agreement (Viamet Pharmaceuticals Holdings LLC), Lease Agreement (Viamet Pharmaceuticals Holdings LLC), Lease Agreement (Viamet Pharmaceuticals Holdings LLC)

Landlord’s Remedies. If Tenant shall vacate or abandon the Premises or permit the same to remain vacant or unoccupied for a Default occursperiod of ten days, Landlord shall have or in case of the following rights and remediesnon-payment of the rent reserved hereby, which shall be distinctor any part thereof, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of the breach of any other right or remedy which Landlord may have covenant in law or equity: (a) Landlord may terminate this Lease by giving contained. Tenant’s right to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises thereupon shall terminate with or (to the extent permitted by Law) without terminating any notice or demand whatsoever, and the mere retention of possession thereafter by Tenant shall constitute a forcible detainer of the Premises; and if the Landlord so elects, but otherwise, and with or without notice of such election or any notice or demand whatsoever, this Lease by giving shall thereupon terminate, and upon the termination or Tenant’s right of possession, as aforesaid, whether this Lease be terminated or not, Xxxxxx agrees to surrender possession of the Premises immediately, without the receipt of any demand for rent, notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to quit or demand for possession of the Premises whatsoever, and hereby grants to Landlord full and free license to enter into and upon the Premises or any part thereof with or (to the extent permitted by Law) without process of law, and to expel and to remove Tenant or any other person who may be occupying the Premises or any part thereof, and Landlord may use such force in and about expelling and removing Tenant and other persons as may reasonable be necessary, and Landlord may re-possess himself of the Premises as of his former estate, but such entry of the Premises shall cease on the date stated not constitute a trespass or forcible entry or detainer, nor shall it cause a forfeiture of rents due by virtue thereof, nor a waiver of any covenant, agreement or promise in such notice but Tenant's obligations under this Lease contained, to be performed by Xxxxxx. Tenant hereby waives all notice of any election made by Landlord hereunder, demand for rent, notice to quit, demand for possession, and any and all notices and demand whatsoever, of any and every nature, which may or shall continue in full force be required by any statute of this state relating to forcible entry and effect; and (c) detainer, or to Landlord may enforce and Tenant, or any other statute, or by the provisions common law, during the term of this Lease and may enforce and protect the rights or Landlord hereunder by any extension thereof. The acceptance of rent, whether in a suit single instance or suits in equity repeatedly, after it falls due, or at law for the specific performance after knowledge of any covenant or agreement contained hereinbreach thereof by Tenant, or for the enforcement giving or making of any notice or demand, whether according to any statutory provision or not, or any act or series of acts except an express written waiver, shall not be construed as a waiver of Landlord’s rights to act without notice or demand or of any other appropriate legal right hereby given Landlord, or equitable remedy, including injunctive relief and recovery of all moneys due or as an election not to become due from Tenant proceed under any of the provisions of this Lease.

Appears in 3 contracts

Samples: Lease Agreement, Lease Agreement, Lease Agreement

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in at law or in equity: (a) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's ’s intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises by any lawful means, without terminating this Lease by giving notice to Tenant that Lease. In such event, Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's ’s obligations under this Lease shall continue in full force and effecteffect and Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default, not limited to those set forth herein; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or of Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease.

Appears in 3 contracts

Samples: Sublease (Catabasis Pharmaceuticals Inc), Office Lease, Office Lease (Thomas Weisel Partners Group, Inc.)

Landlord’s Remedies. If any Base Rent or Additional Rent payable by Tenant to Landlord remains unpaid for more than Ten (10) days from the date due, or if Tenant fails, neglects or refuses to perform any of its other obligations in this Lease and that violation or default continues for a Default occursperiod of thirty (30) days after written notice to the Tenant of same (unless such default cannot be cured within thirty (30) days, in which case Tenant shall not be deemed in default provided that Tenant promptly commences to cure the violation or default after notice from Landlord and continues to diligently pursue such cure to completion), Landlord may (but will not be required to) declare (i) the Lease forfeited and the Term ended; or (ii) re-enter the Premises; or (iii) exercise all other remedies available to Landlord under Michigan law. Landlord shall have the following rights not be liable for any damages or injury to persons or property by reason of any legitimate re-entry or forfeiture, and remedies, which Landlord shall be distinctaided and assisted by Tenant, separate its agents, representatives and cumulativeemployees. Tenant, by the execution of this Lease, waives notice of re-entry by Landlord. In the event of re-entry by Landlord without declaration of forfeiture, the liability of Tenant for the rent provided herein will not be waived or extinguished for the balance of the Term or any renewals thereof, and any rentals prepaid may be retained by Landlord and applied (i) against the costs of re-entry; or (ii) as future rent; or (iii) both. In the event of re-entry by Landlord, Landlord may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, without notice or resort to legal process and without being deemed guilty of trespass, or becoming liable for any loss or damage which may be exercised occasioned thereby. In the event Tenant shall not remove its property from the Premises within ten (10) business days after Tenant has vacated the Premises or on the date of the issuance of a Writ of Restitution of the Leased Premises by a court of competent jurisdiction whichever shall occur first, then such property shall be deemed abandoned by Tenant and Landlord may dispose of the same without any liability to Tenant. In addition to the rentals and other sums agreed to be paid hereunder, Tenant shall pay all actual reasonable attorney fees, costs and expenses incurred by Landlord concurrently or consecutively in for the preparation and filing of any combination notice to quit, eviction proceedings and which collection proceedings, such payments to be made to Landlord within ten (10) days after written demand and evidence of the same is provided to Tenant. Landlord shall not operate be required to exclude or deprive accept any past due amounts owing under this Lease unless such payments include such legal fees, costs and expenses. All rights and remedies of the Landlord shall be cumulative and none shall be exclusive of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate this Lease rights and remedies allowed by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Leaselaw.

Appears in 3 contracts

Samples: Assignment and Assumption of Lease, Assignment and Assumption of Lease (Veri-Tek International, Corp.), Assignment and Assumption of Lease (Veri-Tek International, Corp.)

Landlord’s Remedies. If Upon the occurrence of any Event of Default (notwithstanding any waiver of any former breach of covenant or waiver of the benefit hereof or consent in a Default occursformer instance), Landlord shall have the following rights and remediesmay, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityat its option: (a1) Landlord may terminate Terminate this Lease by and the term hereof upon giving to the Tenant five (5) days written notice of the Landlord's intention to do so, in which event terminate this Lease. This Lease and the Term term hereof shall end, expire and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant come to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall an end on the date stated fixed in such noticenotice as if the said date were the date originally fixed in this Lease for the expiration thereof, whereupon If the Tenant shall remain in the Premises after the expiration date of this Lease, the Tenant will be deemed a hold-over tenant and the Tenant agrees that the Landlord shall have the right to immediately commence a summary proceeding for eviction in the proper local court; or (2) Immediately, or at any time after the occurrence of Tenant an Event of Default, subject to proceedings to regain possession of or eviction commenced in the appropriate municipal court, enter into and upon the Premises or any part thereof shall cease on in the date stated in such notice but Tenant's obligations name of the whole and repossess the same as of its former estate, and expel Tenant and those claiming through or under it and remove its or their effects (forcibly if necessary) without being deemed guilty of any manner of trespass, and without prejudice to any remedies which might otherwise be used for arrears of rent or preceding breach of covenant, and upon entry as aforesaid this Lease shall continue in full force and effect; andterminate. (c3) Landlord may enforce the provisions of this Lease Seek damages and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance avail itself of any covenant or agreement contained herein, or for the enforcement remedies in a court of any other appropriate legal or equitable remedy, including injunctive relief proper and recovery competent jurisdiction as a result of all moneys due or to become due from Tenant Tenant's default under any of the provisions of this Lease.,

Appears in 3 contracts

Samples: Lease Agreement (Embassy Bancorp, Inc.), Lease Agreement (Embassy Bancorp, Inc.), Lease Agreement (Embassy Bancorp, Inc.)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Upon the occurrence of an Event of Default, Landlord may may, immediately or at any time thereafter (notwithstanding any license or waiver of any former breach or waiver of the benefit hereof, or consent in a former instance), and without further demand or notice, in person or by agent or attorney, enter the Premises or any part thereof and repossess the same as of its former estate, or terminate this Lease by giving written notice to Tenant, and in either event expel Tenant and those claiming through or under it and remove their effects (forcibly, if necessary) without being deemed guilty of any manner of trespass and without prejudice to any remedy which might otherwise be used for arrears of Base Rent or Additional Rent or breach of covenant, and upon entry or written notice of the termination, or automatic termination, both as aforesaid, this Lease shall terminate and Landlord's intention to do so, in addition to all other remedies which event the Term shall endit may have at law or equity, and all rightnot in limitation thereof, title and interest of Tenant hereunder shall expire, on have the date stated remedies provided in such notice;this Article XII. (b) If, pursuant to Section 12.2(a), Landlord may terminate the terminates Tenant’s right of Tenant to possession of the Premises without terminating this Lease, then Tenant shall pay to Landlord during the remainder of the Lease Term the Base Rent and Additional Rent in installments as and when the same become due and payable, subject to reduction by giving notice any rent actually received by Landlord as a result of a re-letting of the Premises (net of the reasonable and customary costs of re-letting, including remodeling costs, brokerage commissions and attorneys’ fees). Landlord shall exercise commercially reasonable efforts to Tenant that Tenant's right of possession shall end on re-let the date stated in such noticePremises to mitigate damages, whereupon the right of Tenant to possession of and Landlord may re-let the Premises or any part thereof or parts thereof, either in the name of Landlord or otherwise for a term or terms which may, at Landlord’s option, be less than or exceed the period which would otherwise have constituted the balance of the Lease Term and may grant concessions or free rent. The good faith failure of Landlord to re-let the Premises or any part or parts thereof, or, if the Premises are re-let, the good faith failure to collect the rents due under such re-letting, shall cease not release or affect Tenant’s liability for damage so long as Landlord does not act arbitrarily or capriciously. Any suit brought to collect the amount of the deficiency for any month or other period shall not prejudice in any way the right of Landlord to collect the deficiency for any subsequent month or period by a similar proceeding. Landlord, at Landlord’s option, may make such alterations, repairs, replacements and decorations on the date stated Premises as Landlord in Landlord’s sole but reasonable judgment considers advisable and necessary for the purpose of re-letting the Premises, and the making of such notice but Tenant's obligations under this Lease alterations or decorations shall continue in full force and effect; andnot operate or be construed to release Tenant from liability hereunder. (c) If, pursuant to Section 12.2(a), Landlord terminates this Lease, Tenant shall forthwith pay to Landlord as damages, in addition to all sums which were due prior to the date of such termination, a sum equal to the amount by which the Base Rent and Additional Rent for the remainder of the Lease Term exceeds the fair rental value of the Premises for the remainder of the Lease Term, discounted to present value using a then market rate of interest as reasonably determined by Landlord. For the purposes of computing damages payable pursuant to this Section 12.2(c), the Additional Rent with respect to Taxes, Insurance Costs and Operating Costs for the remainder of the Lease Term will be assumed to be the product of such Additional Rent for the most recently ended fiscal, calendar or lease year, as the case may be, times the number of years remaining of the Lease Term. (d) Tenant will be responsible to Landlord for all expenses which Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits incur in equity or at law for the specific performance of any covenant or agreement contained herein, or for connection with the enforcement of any other appropriate Landlord’s rights after an Event of Default, including, without limitation, reasonable legal expenses, attorneys’ fees, brokerage fees, and the cost of putting the Premises in good order or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of preparing the provisions of this Leasesame for rental.

Appears in 3 contracts

Samples: Sublease Agreement (Genocea Biosciences, Inc.), Sublease Agreement (Genocea Biosciences, Inc.), Sublease Agreement (Genocea Biosciences, Inc.)

Landlord’s Remedies. If a Default occursUpon the occurrence of an Event of Default, Landlord shall have the following rights and remediesLandlord, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively without notice to the Tenant in any combination and which shall not operate to exclude instance (except where expressly provided for below), may do any one or deprive Landlord more of any other right or remedy which Landlord may have in law or equitythe following: (a) Landlord may terminate perform, on behalf and at the expense of the Tenant, any obligation of the Tenant under this Lease by giving which the Tenant has failed to perform beyond any applicable grace or cure periods and of which the Landlord shall have given the Tenant notice (except in an emergency situation in which no notice is required), the cost of which performance by the Landlord's intention to do so, in which event together with interest thereon at the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on Default Rate from the date stated in of such noticeexpenditure, shall be deemed Additional Rent and shall be payable by the Tenant to the Landlord as otherwise set forth herein; (b) Landlord may elect to terminate this Lease and the tenancy created hereby by giving notice of such election to the Tenant without any right on the part of the Tenant to save the forfeiture by payment of any sum due or by other performance of condition, term, agreement or covenant broken, or elect to terminate the right of Tenant to possession Tenant’s possessory rights and all other rights of the Premises Tenant without terminating this Lease Lease, and in either event, at any time thereafter without notice or demand and without any liability whatsoever, reenter the Premises by giving notice to force, summary proceedings or otherwise, and remove the Tenant that Tenant's right of possession shall end on and all other persons and property from the date stated Premises, and store such Project in such notice, whereupon a public warehouse or elsewhere at the right of Tenant to possession cost and for the account of the Premises Tenant without resort to legal process and without the Landlord being deemed guilty of trespass or becoming liable for any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effectloss or damage occasioned thereby; and (c) Landlord exercise any other legal and/or equitable might or remedy which it may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or have at law for the or in equity, including rights of specific performance of any covenant or agreement contained hereinand/or injunctive relief, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Leasewhere appropriate.

Appears in 3 contracts

Samples: Office Lease, Office Lease (Under Armour, Inc.), Office Lease (Under Armour, Inc.)

Landlord’s Remedies. (i) If a Default occursTenant shall default in the payment when due of any installment of Rent or in the payment when due of any additional rent beyond applicable notice and cure periods, Landlord shall have the following rights and remedies, which or if any execution or attachment shall be distinctissued against Tenant or any of Tenant's property whereupon the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, separate or if Tenant shall fail to move into or take possession of the Premises within fifteen (15) days after the Commencement Date, or if this Lease and cumulative, the Term shall expire and which may be exercised by Landlord concurrently or consecutively come to an end as provided in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityArticle 17: (a) Landlord and its agents and servants may terminate immediately, or at any time after such Event of Default or after the date upon which this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event and the Term shall expire and come to an end, re-enter the Premises or any part thereof, either by summary proceedings, or by any other applicable action or proceeding, (without being liable for indictment, prosecution or damages therefor), and may repossess the Premises and dispossess Tenant and any other persons from the Premises and remove any and all right, title of their property and interest of Tenant hereunder shall expire, on effects from the date stated in such notice;Premises; and (b) Landlord Landlord, at Landlord's option, may terminate relet the right of Tenant to possession whole or any part or parts of the Premises without terminating this Lease by giving notice from time to Tenant that Tenant's right time, either in the name of possession Landlord or otherwise, to such tenant or tenants, for such term or terms ending before, on or after the Expiration Date, at such rental or rentals and upon such other conditions, which may include concessions and free rent periods, as Landlord, in its sole discretion, may determine. Landlord shall end on the date stated in such notice, whereupon the right of Tenant have no obligation to possession of relet the Premises or any part thereof and shall cease on in no event be liable for refusal or failure to relet the date stated Premises or any part thereof, or, in the event of any such notice but Tenant's obligations reletting, for refusal or failure to collect any rent due upon any such reletting, and no such refusal or failure shall operate to relieve Tenant of any liability under this Lease or otherwise to affect any such liability; Landlord, at Landlord's option, may make such repairs, replacements, alterations, additions, improvements, decorations and other physical changes in and to the Premises as Landlord, in its sole discretion, considers advisable or necessary in connection with any such reletting or proposed reletting, without relieving Tenant of any liability under this Lease or otherwise affecting any such liability. (ii) Tenant hereby waives the service of any notice of intention to reenter or to institute legal proceedings to that end which may otherwise be required to be given under any present or future law. Tenant, on its own behalf and on behalf of all persons claiming through or under Tenant, including all creditors, does further hereby waive any and all rights which Tenant and all such persons might otherwise have under any present or future law to redeem the Premises, or to re-enter or repossess the Premises, or to restore the operation of this Lease, after (a) Tenant shall continue in full force and effect; and have been dispossessed by a judgment or by warrant of any court or judge, or (b) any re-entry by Landlord, or (c) Landlord may enforce the provisions any expiration or termination of this Lease and may enforce and protect the rights Term, whether such dispossess, re-entry, expiration or Landlord hereunder termination shall be by a suit operation of law or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or pursuant to become due from Tenant under any of the provisions of this Lease. The words "re-enter", "re-entry" and "re-entered" as used in this Lease shall not be deemed to be restricted to their technical legal meanings. In the event of a breach or threatened breach by Tenant, or any persons claiming through or under Tenant of any term, covenant or condition of this Lease on Tenant's part to be observed or performed, Landlord shall have the right to enjoin such breach and the right to invoke any other remedy allowed by law or in equity as if re-entry, summary proceedings and other special remedies were not provided in this Lease for such breach. The right to invoke the remedies hereinbefore set forth are cumulative and shall not preclude Landlord from invoking any other remedy allowed at law or in equity.

Appears in 2 contracts

Samples: Lease Agreement (Nextvenue Inc), Assignment and Amendment of Lease (Talkpoint Communications Inc)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant under this Lease, Landlord shall have the following Landlord, at its option, and after any applicable notice and cure period (as required pursuant to SECTION 21.2), but without additional notice or demand from Landlord, if any, as provided in SECTION 21.2 has expired, may, in addition to all other rights and remediesremedies provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in otherwise at law or in equity: : (a) Landlord may terminate this Lease by giving to Tenant notice and Tenant's right of possession of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; Premises; or (b) Landlord may terminate the Tenant's right of Tenant to possession of the Premises without terminating this Lease by giving notice Lease; provided, however, that Landlord may, whether Landlord elects to Tenant that Tenant's right of possession shall end on proceed under Subsections (a) or (b) above, relet the date stated in such noticePremises, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on for the date stated account of Tenant, for such rent and term and upon such terms and conditions as are acceptable to Landlord. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by Landlord, in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce its sole discretion. In the provisions event of the termination of this Lease by Landlord pursuant to (a) above, Landlord shall be entitled to recover from Tenant (i) all damages and may enforce and protect the rights or other sums that Landlord hereunder by a suit or suits in equity is entitled to recover under any provision of this Lease or at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and Additional Rent accrued and unpaid for the specific performance of any covenant or agreement contained hereinperiod up to and including such termination date; (ii) all other additional sums payable by Tenant, or for the enforcement which Tenant is liable, or in respect of any other appropriate legal or equitable remedywhich Tenant has agreed to indemnify Landlord, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease, that may be then owing and unpaid; (iii) all costs and expenses (including, without limitation, court costs and attorneys' reasonable fees) incurred by Landlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, without limitation, an amount equal to the positive difference, if any, between (x) the discounted present value (at 6% per annum) of the Base Rent provided to be paid for the remainder of the Term (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the date of termination of this Lease) after deduction (from such fair market rental value) of the projected costs and expenses of reletting the Premises (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and the Premises are relet and a sufficient sum is not realized therefrom, then to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period (after payment of all Landlord's reasonable expenses of reletting), Tenant shall, in Landlord's sole judgment, either (i) pay any such deficiency monthly or (ii) pay such deficiency on an accelerated basis, which accelerated deficiency shall be discounted at a rate of 6% per annum. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and Landlord fails to relet the Premises, then Tenant shall pay to Landlord the sum of (x) the projected costs of Landlord's expenses of reletting (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord and (y) the accelerated amount of Base Rent and Additional Rent due under the Lease for the balance of the Term, discounted to present value at a rate of 6% per annum. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b), then Landlord shall at any time have the further right and remedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to clause (b) of this SECTION 22.2, to terminate Tenant's right of possession only, without terminating this Lease, Landlord may, at Landlord's option, enter into the Premises, remove Tenant's Property, Tenant's signs and other evidences of tenancy, and take and hold possession thereof, as provided in SECTION 20 hereof; and restore the Premises to the condition required hereunder, provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant's obligation to pay the Base Rent and Additional Rent reserved hereunder for the full Term, or from any other obligation of Tenant under this Lease. Any and all property that may be removed from the Premises by Landlord pursuant to the authority of the Lease or of law, to which Tenant is or may be entitled, may be handled, Tenant Initial__________ Landlord Initial__________ removed or stored by Landlord at the sole risk, cost and expense of Tenant, and in no event or circumstance shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such removal and all storage charges against such property so long as the same shall be in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by Tenant within 30 days after the end of the Term, however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as in a xxxx of sale, without further payment or credit by Landlord to Tenant.

Appears in 2 contracts

Samples: Business Lease (Asset Acceptance Capital Corp), Business Lease (Asset Acceptance Capital Corp)

Landlord’s Remedies. If this Lease shall be terminated, as provided hereinabove: The Landlord may immediately, or any time thereafter, re-enter and resume possession of the demised premises and remove all persons and property therefrom either by summary dispossess proceedings or by a Default occurssuitable action or proceeding at law or in equity, or by force or otherwise without being liable for any damages therefor. No re-entry by the Landlord shall be deemed an acceptance of a surrender of this Lease. The Landlord may re-let the whole or any part of the demised premises for a period equal to, or greater, or less than the remainder of the then term of this Lease, at such rental and upon such terms and concessions as the Landlord, shall deem reasonable, to any Tenant or Tenants which it may deem suitable and satisfactory for any use and purpose which it may deem appropriate. In no event shall the Landlord be liable in any respect for failure to re-let the demised premises or in the event of such re-letting for failure to collect the rent thereunder. Any sums received by the Landlord on a re-letting in excess of the rent reserved in this Lease shall belong to the Landlord. In addition to any other rights or remedy which may be available, Landlord may, in the event of a breach or threatened breach on the part of the Tenant with respect to any of the covenants, agreements, terms, provisions or conditions on the part of or on behalf of Tenant to be kept, observed or performed, Landlord shall also have the following rights right of injunction. The specified remedies to which Landlord may resort hereunder are cumulative and remedies, which shall are not intended to be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord exclusive of any other right remedies or remedy means of redress to which Landlord may have in lawfully be entitled at any time, and Landlord may invoke any remedy allowed at law or equity: (a) Landlord may terminate this Lease in equity as if specific remedies were not herein provided for. Tenant hereby waives a trial by giving to Tenant notice jury in any action, proceeding or counterclaim brought by either of the Landlordparties hereto against the other on any matter whatsoever arising out of or in any way connected with this Lease, the relationship of Landlord and Tenant, Tenant's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession use or occupancy of the Premises without terminating this Lease by giving notice to leased premises, and/or any claim of injury or damage. In the event Landlord commences any proceedings for non-payment of rent, Tenant that shall not interpose any counterclaim of whatever nature or description in any such proceedings. This shall not, however, be construed as a waiver of the Tenant's right of possession shall end on the date stated to assert such claims in such notice, whereupon the right of Tenant to possession of the Premises any separate action or any part thereof shall cease on the date stated in such notice but actions brought by Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease.

Appears in 2 contracts

Samples: Lease (CVD Equipment Corp), Lease (CVD Equipment Corp)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Upon the occurrence of an Event of Default, Landlord may may, immediately or at any time thereafter (notwithstanding any license or waiver of any former breach or waiver of the benefit hereof, or consent in a former instance), and without further demand or notice, in person or by agent or attorney, enter the Premises or any part thereof and repossess the same as of its former estate, or terminate this Lease by giving written notice to Tenant, and in either event expel Tenant and those claiming through or under it and remove their effects without being deemed guilty of any manner of trespass and without prejudice to any remedy which might otherwise be used for arrears of Base Rent or Additional Rent or breach of covenant, and upon entry or written notice of the termination, or automatic termination, both as aforesaid, this Lease shall terminate and Landlord's intention to do so, in addition to all other remedies which event the Term shall endit may have at law or equity, and all rightnot in limitation thereof, title and interest of Tenant hereunder shall expire, on have the date stated remedies provided in such notice;this Article XII. (b) If, pursuant to Section 12.2(a), Landlord may terminate the terminates Tenant’s right of Tenant to possession of the Premises without terminating this Lease, then Tenant shall pay to Landlord during the remainder of the Lease Term the Base Rent and Additional Rent in installments as and when the same become due and payable, subject to reduction by giving notice any rent actually received by Landlord as a result of a re-letting of the Premises (net of the reasonable and customary costs of re-letting, including remodeling costs, brokerage commissions and attorneys’ fees). Landlord shall exercise commercially reasonable efforts to Tenant that Tenant's right of possession shall end on re-let the date stated in such noticePremises to mitigate damages, whereupon the right of Tenant to possession of and Landlord may re-let the Premises or any part thereof or parts thereof, either in the name of Landlord or otherwise for a term or terms which may, at Landlord’s option, be less than or exceed the period which would otherwise have constituted the balance of the Lease Term and may grant concessions or free rent. The good faith failure of Landlord to re-let the Premises or any part or parts thereof, or, if the Premises are re-let, the good faith failure to collect the rents due under such re-letting, shall cease not release or affect Tenant’s liability for damage so long as Landlord does not act arbitrarily or capriciously. Any suit brought to collect the amount of the deficiency for any month or other period shall not prejudice in any way the right of Landlord to collect the deficiency for any subsequent month or period by a similar proceeding. Landlord, at Landlord’s option, may make such alterations, repairs, replacements and decorations on the date stated Premises as Landlord in Landlord’s sole but reasonable judgment considers advisable and necessary for the purpose of re-letting the Premises, and the making of such notice but Tenant's obligations under this Lease alterations or decorations shall continue in full force and effect; andnot operate or be construed to release Tenant from liability hereunder. (c) If, pursuant to Section 12.2(a), Landlord terminates this Lease, Tenant shall forthwith pay to Landlord as damages, in addition to all sums which were due prior to the date of such termination, a sum equal to the amount by which the Base Rent and Additional Rent for the remainder of the Lease Term exceeds the fair rental value of the Premises for the remainder of the Lease Term, discounted to present value using a then market rate of interest as reasonably determined by Landlord. For the purposes of computing damages payable pursuant to this Section 12.2(c), the Additional Rent with respect to Taxes, Insurance Costs and Operating Costs for the remainder of the Lease Term will be assumed to be the product of such Additional Rent for the most recently ended fiscal, calendar or lease year, as the case may be, times the number of years remaining of the Lease Term. (d) Tenant will be responsible to Landlord for all expenses which Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits incur in equity or at law for the specific performance of any covenant or agreement contained herein, or for connection with the enforcement of any other appropriate Landlord’s rights after an Event of Default, including, without limitation, reasonable legal expenses, attorneys’ fees, brokerage fees, and the cost of putting the Premises in good order or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from preparing the same for rental. (e) Tenant shall not be liable for consequential damages under any of the provisions of this Lease, except such as arise from a holdover by Tenant. No Person executing this Lease on behalf of Tenant, nor any officer, director or employee of Tenant, shall have any personal liability hereunder.

Appears in 2 contracts

Samples: Lease Agreement (Genocea Biosciences, Inc.), Lease Agreement (Genocea Biosciences, Inc.)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant under this Lease, Landlord shall have the following Landlord, at its option, and after any applicable notice and cure period (as required pursuant to SECTION 21.2), but without additional notice or demand from Landlord, if any, as provided in SECTION 21.2 has expired, may, in addition to all other rights and remediesremedies provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in otherwise at law or in equity: : (a) Landlord may terminate this Lease by giving to Tenant notice and Tenant's right of possession of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; Premises; or (b) Landlord may terminate the Tenant's right of Tenant to possession of the Premises without terminating this Lease by giving notice Lease; provided, however, that Landlord may, whether Landlord elects to Tenant that Tenant's right of possession shall end on proceed under Subsections (a) or (b) above, relet the date stated in such noticePremises, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on for the date stated account of Tenant, for such rent and term and upon such terms and conditions as are acceptable to Landlord. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by Landlord, in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce its sole discretion. In the provisions event of the termination of this Lease by Landlord pursuant to (a) above, Landlord shall be entitled to recover from Tenant (i) all damages and may enforce and protect the rights or other sums that Landlord hereunder by a suit or suits in equity is entitled to recover under any provision of this Lease or at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and Additional Rent accrued and unpaid for the specific performance of any covenant or agreement contained hereinperiod up to and including such termination date; (ii) all other additional sums payable by Tenant, or for the enforcement which Tenant is liable, or in respect of any other appropriate legal or equitable remedywhich Tenant has agreed to indemnify Landlord, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease, that may be then owing and unpaid; (iii) all costs and expenses (including, without limitation, court costs and attorneys' reasonable fees) incurred by Landlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, without limitation, an amount equal to the positive difference, if any, between (x) the discounted present value (at 6% per annum) of the Base Rent provided to be paid for the remainder of the Term (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the date of termination of this Lease) after deduction (from such fair market rental value) of the projected costs and expenses of reletting the Premises (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and the Premises are relet and a sufficient sum is not realized therefrom, then to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period (after payment of all Landlord's reasonable expenses of reletting), Tenant shall, in Landlord's sole judgment, either (i) pay any such deficiency monthly or (ii) pay such deficiency on an accelerated basis, which accelerated deficiency shall be discounted at a rate of 6% per annum. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and Landlord fails to relet the Premises, then Tenant shall pay to Landlord the sum of (x) the projected costs of Landlord's expenses of reletting (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord and (y) the accelerated amount of Base Rent and Additional Rent due under the Lease for the balance of the Term, discounted to present value at a rate of 6% per annum. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b), then Landlord shall at any time have the further right and remedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to clause (b) of this SECTION 22.2, to terminate Tenant's right of possession only, without terminating this Lease, Landlord may, at Landlord's option, enter into the Premises, remove Tenant's Property, Tenant's signs and other evidences of tenancy, and take and hold possession thereof, as provided in SECTION 20 hereof; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant's obligation to pay the Base Rent and Additional Rent reserved hereunder for the full Term, or from any other obligation of Tenant under this Lease. Any and all property that may be removed from the Premises by Landlord pursuant to the authority of the Lease or of law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the sole risk, cost and expense of Tenant, and in no event or circumstance shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such removal and all storage charges against such property so long as the same shall be in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by Tenant within 30 days after the end of the Term, however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as in a xxxx of sale, without further payment or credit by Landlord to Tenant.

Appears in 2 contracts

Samples: Industrial Building Lease (Build a Bear Workshop Inc), Industrial Building Lease (Build a Bear Workshop Inc)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant, and without limiting Landlord's right to indemnification as provided in Article 8.2, Landlord shall have the following remedies, in addition to all other rights and remediesremedies provided by Law or otherwise provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have resort cumulatively, or in the alternative: A. Landlord may, at Landlord's election, keep this Lease in effect and enforce, by an action at law or in equity:, all of its rights and remedies under this Lease including, without limitation, (i) the right to recover the rent and other sums as they become due by appropriate legal action, (ii) the right to make payments required by Tenant, or perform Tenant's obligations and be reimbursed by Tenant for the cost thereof with interest at the then maximum rate of interest not prohibited by Law from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant, and (iii) the remedies of injunctive relief and specific performance to prevent Tenant from violating the terms of this Lease and/or to compel Tenant to perform its obligations under this Lease, as the case may be. (a) B. Landlord may may, at Landlord's election, terminate this Lease by giving to Tenant written notice of the Landlord's intention to do sotermination, in which event the Term this Lease shall end, and all right, title and interest of Tenant hereunder shall expire, terminate on the date stated set forth for termination in such notice. Any termination under this Subparagraph shall not relieve Tenant from its obligation to pay to Landlord all Base Monthly Rent and Additional Rent then or thereafter due, or any other sums due or thereafter accruing to Landlord, or from any claim against Tenant for damages previously accrued or then or thereafter accruing. In no event shall any one or more of the following actions by Landlord, in the absence of a written election by Landlord to terminate this Lease, constitute a termination of this Lease: 1. Appointment of a receiver or keeper in order to protect Landlord's interest hereunder; (b) 2. Consent to any subletting of the Leased Premises or assignment of this Lease by Tenant, whether pursuant to the provisions hereof or otherwise; or 3. Any other action by Landlord or Landlord's agents intended to mitigate the adverse effects of any breach of this Lease by Tenant, including, without limitation, any action taken to maintain and preserve the Lease Premises or any action taken to relet the Leased Premises, or any portion thereof, for the account of Tenant and in the name of Tenant. C. In the event Tenant breaches this Lease and abandons the Leased Premises, Landlord may terminate the right this Lease, but this Lease shall not terminate unless Landlord gives Tenant written notice of Tenant to possession of the Premises without terminating termination. If Landlord does not terminate this Lease by giving written notice of termination, Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due under this Lease as provided in California Civil Code Section 1951.4 as in effect on the Effective Date of this Lease. D. In the event Landlord terminates this Lease, Landlord shall be entitled, at Landlord's election, to damages in an amount as set forth in California Civil Code Section 1951.2, as in effect on the Effective Date of this Lease. For purposes of computing damages pursuant to Section 1951.2, an interest rate equal to the maximum rate of interest then not prohibited by Law shall be used where permitted. Such damages shall include, without limitation: (1) The worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant that proves could be reasonably avoided, 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; and (2) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant failure to possession of the Premises or any part thereof shall cease on the date stated in such notice but perform Tenant's obligations under this Lease shall continue Lease, or which in full force and effectthe ordinary course of things would be likely to result therefrom, including without limitation, the following: (i) expenses for cleaning, repairing or restoring the Leased Premises; and (cii) Landlord may enforce expenses for altering, remodeling or otherwise improving the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law Leased Premises for the specific performance purpose of any covenant reletting, including removal of existing leasehold improvements and/or installation of additional leasehold improvements (regardless of how the same is funded, including reduction of rent, a direct payment or agreement contained hereinallowance to a new tenant, or for otherwise); (iii) broker's fees, advertising costs and other expenses of reletting the enforcement Leased Premises; (iv) costs of carrying and maintaining the Leased Premises, such as taxes, insurance premiums, utility charges and security precautions; (v) expenses incurred in removing, disposing of and/or storing any of Tenant's personal property, inventory or trade fixtures remaining therein; (vi)attorney's fees, expert witness fees, court costs and other reasonable expenses incurred by Landlord (but not limited to taxable costs) in retaking possession of the Leased, establishing damages hereunder, and re-leasing the Leased Premises; and (vii) any other appropriate legal expenses, costs or equitable remedy, including injunctive relief and recovery damages otherwise incurred or suffered as a result of all moneys due or to become due from Tenant under any of the provisions of this LeaseTenant's default.

Appears in 2 contracts

Samples: Industrial Space Lease (Upgrade International Corp /Fl/), Industrial Space Lease (Efficient Networks Inc)

Landlord’s Remedies. If 15.2.1 In the event of a Default occursTenant Default, Landlord shall have the following rights right at any time thereafter, with or without notice or demand and remedies, which shall be distinct, separate and cumulative, and which may be exercised by without limiting Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord the exercise of any other right or remedy which Landlord may otherwise have in law or equity: (a) Landlord may under applicable law, either to terminate this Lease by giving or to Tenant notice re-enter without terminating this Lease and remove all persons and property from the Premises and, at its option, to attempt to re-let the Premises or any portion thereof, using any force as may reasonably be necessary to accomplish said purposes, all without being deemed guilty of the Landlord's intention trespass or forcible entry or becoming liable for any loss or damage which may be occasioned thereby. 15.2.2 In order to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to regain possession of the Premises and to deny Tenant access thereto, Landlord or its agent may, at the expense and liability of Tenant, alter or change any or all locks or other security devices controlling access to the Premises without terminating posting or giving notice of any kind to Tenant, and thereafter, Landlord shall have no obligation to provide Tenant a key to any new locks installed in the Premises or grant Tenant access to the Premises. Landlord may take the actions described in this Section without being deemed in any manner guilty of trespass, eviction or forcible entry or detainer and without incurring any liability for any damage resulting from such actions, including any liability arising under Chapter 93 of the Texas Property Code, as amended (the “ITC”), and without relinquishing Landlord’s right to Rent or any other right given to Landlord hereunder or by operation of law; Tenant hereby waiving any right to claim damage for such reentry and expulsion, including any rights granted to Tenant by Chapter 93 of the TPC. 15.2.3 If Tenant shall fail to remove any property which it is entitled to remove from the Premises upon the termination of this Lease, or any extension or renewal hereof, or upon a re-entry by Landlord for any cause whatsoever, or upon Tenant’s ceasing to possess the Premises for any reason, then Landlord, at its option, may: (i) remove such property and store or dispose of same without liability for loss or damage thereto, and Tenant agrees to pay to Landlord on demand any and all expenses reasonably incurred in such removal, including court costs and reasonable attorneys’ fees, storage and insurance charges on such property for any length of time the same shall be in Landlord’s possession; or (ii) Landlord may, without notice, sell such property, or any part thereof, at private or public sale and without legal process, for such price or consideration as the Landlord may obtain, and apply the proceeds of such sale to the payment of any amounts due under this Lease and to the reasonable expenses incidental to the removal and sale of such property, cleaning the Premises, and any other reasonable expense, rendering the surplus, if any, to the Tenant, provided that, in the event the proceeds of any such sale or sales are insufficient to reimburse the Landlord, Tenant shall pay such deficiency upon demand. Tenant acknowledges and agrees that any such disposition of Tenant’s property in the above-described manner by giving Landlord shall be deemed to be commercially reasonable and that no bailment shall be created by Landlord’s exercise of any of its rights under this Section. 15.2.4 Should Landlord elect to re-enter, as herein provided, or should it take possession pursuant to legal proceedings, or pursuant to any notice provided for by law, Landlord may make such alterations, additions, improvements and repairs as may be necessary in order to Tenant that Tenant's right of possession shall end on re-let the date stated in such noticePremises, whereupon the right of Tenant and may, at its option, attempt to possession of re-let the Premises or any part thereof for such term or terms (which may be for a term extending beyond the Lease Term) and at such rental or rentals and upon such other terms and conditions as Landlord may determine to be advisable. Upon each such re-letting, all rentals received by the Landlord shall cease be applied as follows: (i) first to the payment of any costs and expenses of such re-letting, including brokerage fees and attorney’s fees and the cost of such alterations, additions, improvements and repairs; (ii) second, to the payment of Base Rent due and unpaid hereunder; and (iii) third, the residue, if any, shall be held by Landlord and applied in payment of future Rent as the same may become due and payable hereunder, provided that Tenant shall have no right to claim any interest in all or any portion of said residue. If the rent and other charges paid or to be paid to Landlord by any new tenant pursuant to any re-letting exceed the monetary obligations of Tenant, Tenant shall have no right to claim any interest in all or any portion of said excess. If such Rent received from such re-letting during any month be less than that to be paid during the month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord on the date stated on which the Rent would have been payable hereunder if possession had not been retaken. Landlord shall in no event be liable in any way whatsoever for failure to re-let the Premises for any reason, or in the event the Premises are re-let, for failure to collect the rent thereof under such re-letting. No such re-entry or taking possession of the Premises by Landlord or any acts pursuant thereto shall be construed as an election by Landlord to terminate this Lease unless a written notice but Tenant's obligations of such termination is given to Tenant by Landlord. No notice from Landlord under this Lease or under any applicable forcible entry and detainer or eviction statue or similar law shall continue in full force and effect; and (c) constitute an election by Landlord to terminate this Lease unless such notice specifically so states. Notwithstanding any such re-letting without termination, Landlord may enforce at any time thereafter elect to terminate this Lease for such previous breach. 15.2.5 If Landlord shall at any time terminate this Lease due to a Tenant Default, then, in addition to any other remedies, Landlord may recover from Tenant all damages incurred by reason thereof, including the cost of recovering the Premises, reasonable attorneys’ fees, and an amount equal to the full amount of the Rent (discounted to present value) and such other charges as are required to be paid by Tenant under the terms of this Lease for the remainder of the stated Lease Term less the then reasonable market rental value of the Premises for the remainder of the stated Lease Term (discounted to present value), all of which amounts shall be immediately due and payable from Tenant to Landlord; provided, however, that if the then reasonable market rental value of the Premises exceeds the value of the Rent and other charges required to be paid by Tenant under this Lease as aforesaid, Tenant shall have no right to claim any interest in all or any portion of such excess value. 15.2.6 Each of Landlord’s remedies set forth in this Section shall not be exclusive, but rather shall be considered cumulative with any other legal or equitable remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located. To the extent such waiver is permitted by law, the parties waive trial by jury in any action or proceeding brought in connection with this Lease. Suit or suits for the recovery of the amount of damages set forth hereinabove may be brought by Landlord, from time to time, at Landlord’s election, and no provision of this Lease shall be deemed to require Landlord to await the date whereon this Lease or the Lease Term hereof would have expired had there been no event of default. Nothing contained in this Lease shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding an amount equal to the maximum allowed by any statue or rule of law governing such proceeding and in effect at the time when such damages are to be proved, whether or not such amount be greater, equal to or less than the amounts recoverable, either as damages or rent, referred to in any of the preceding provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this LeaseSection.

Appears in 2 contracts

Samples: Office Building Lease (Teladoc, Inc.), Office Building Lease (Teladoc, Inc.)

Landlord’s Remedies. If a (a) Upon the occurrence of an Event of Default occursunder Section 15.1, Landlord shall have the following rights and remedies, which shall be distinct, separate subject to the rights of Franchisor or Tenant Lender under the provisions of Section 15.3 and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equitySection 20.2: (ai) Landlord may To terminate this Lease and Tenant's right of possession of the Premises by giving to Tenant notice of the Landlord's intention such election to do soTenant, in which event (A) Tenant shall immediately surrender possession thereof to Landlord, failing which Landlord may re-enter and take possession of the Term shall endPremises and expel or remove Tenant and any other occupant(s) thereof in accordance with applicable law ("Reentry"), and all right, title and interest of (B) Tenant hereunder shall expire, on the date stated in such noticehave no further claim thereon or hereunder; (bii) Landlord may To terminate the Tenant's right of Tenant to possession of the Premises without terminating this Lease by giving notice of such election to Tenant, in which event (A) Tenant that Tenant's right of shall immediately surrender possession shall end on the date stated in such noticethereof to Landlord, whereupon failing which Landlord may exercise the right of Reentry, and (B) Landlord shall have the right to occupy the Premises for and on account of Tenant and to collect any unpaid rentals and other charges which have or may thereafter become due and payable; (iii) To exercise the rights described in clause (ii) above and thereafter elect to terminate this Lease and all of Tenant's rights in or to the Premises by giving notice of such election to Tenant; or (iv) To exercise any other right or remedy now or hereafter existing by law or in equity. (b) If Landlord reenters the Premises under clause (a)(ii) above, such reentry or any action, in unlawful detainer or otherwise, to obtain possession of the Premises shall not be deemed to be an election by Landlord to terminate this Lease, or Tenant's liability to pay rent or other charges thereafter accruing, or Tenant's liability for damages under any part thereof shall cease on provisions hereof, unless Landlord elects to terminate this Lease by written notice to that effect given to Tenant. Tenant covenants that the date stated service by Landlord of any notice pursuant to the unlawful detainer statutes of the State in which the Premises is located and the surrender of possession pursuant to such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions not be deemed to be a termination of this Lease and may enforce and protect Lease, unless Landlord elects to the rights contrary by written notice to that effect given to Tenant at the time of or Landlord hereunder by a suit or suits in equity or at law for after the specific performance service of any covenant such statutory notice. If Landlord reenters or agreement contained hereintakes possession of the Premises as aforesaid, or for Landlord shall have the enforcement of any other appropriate legal or equitable remedyright, including injunctive relief and recovery of all moneys due or subject to become due from Tenant under any of the provisions of this Lease, including without limitation, the provisions of Section 16.2, to remove therefrom all or any part of the personal property located therein and may dispose of or place the same in storage at a public warehouse at the expense and risk of Tenant; provided, however, that Landlord shall not be obligated to remove and/or dispose of any such personal property. (c) If Landlord elects to reenter the Premises under clause (a)(ii) above and takes possession of the Premises, Landlord may, but except to the extent required by applicable law or court order, shall not be obligated to, relet the Premises for a term, rate and upon such other provisions as Landlord deems appropriate. If Landlord so reenters and takes possession of the Premises, Landlord may decorate, repair and alter the Premises to the extent Landlord deems appropriate for purposes of such reletting. If Landlord is unable to so relet the Premises, then Tenant shall pay to Landlord monthly on the first day of each month during the period that Tenant's right to possession is terminated, a sum equal to the Rent due under this Lease for that month. If the Premises are relet, Landlord shall apply the rents therefrom first to payment of Landlord's expenses incurred by reason of Tenant's default, second, to payment of Landlord's expenses of reletting, including without limitation, brokerage fees and reasonable attorneys' fees, and third, to payment of Rent due from Tenant under this Lease. All sums expended and concessions granted to any new tenant shall be amortized on a straight -line basis over the term of the new lease and Tenant's liability therefor shall be limited to that portion attributable to the unexpired term of this Lease. If the sums received from such reletting are insufficient to satisfy the payment of Rent due from Tenant under this Lease for any month, Tenant shall remain liable for the deficiency. If the sums received from such reletting exceed the Rent otherwise due from Tenant for any month, Tenant shall have no rights thereto except that such excess amounts shall be applied against Rent subsequently due under this Lease. No such reletting by Landlord shall be considered to be (A) for Landlord's own account unless and until Landlord notifies Tenant that this Lease has been terminated, and (B) an acceptance of Tenant's surrender of the Premises unless and until Landlord so notifies Tenant. (d) In the event of any termination of this Lease or repossession of any of the Premises after the occurrence of an Event of Default, Tenant shall pay to Landlord Base Rent, Additional Rent and all other sums required to be paid by Tenant to and including the date of such termination or repossession and, thereafter, Tenant shall, until the end of what would have been the Term in the absence of such termination or repossession, and whether or not any of the Premises shall have been relet, be liable to Landlord for and shall pay to Landlord as liquidated and agreed current damages: (i) Base Rent, Additional Rent and all other sums which would be payable under this Lease by Tenant in the absence of such termination or repossession, less (ii) the net proceeds, if any, of any reletting pursuant to Section 15.2(c), after deducting from such proceeds all of Landlord's reasonable expenses in connection with such reletting (including without limitation, all reasonable repossession costs, brokerage commissions, legal expenses, attorneys' fees, costs of Alteration and expenses of preparation for reletting). Tenant hereby agrees to be and remain liable for all sums aforesaid and Landlord may recover such damages from Tenant and institute and maintain successive actions or legal proceedings against Tenant for the recovery of such damages. Nothing herein contained shall be deemed to require Landlord to wait to begin such action or other legal proceedings until the date when the Term would have expired had there been no such Event of Default. (e) At any time after such termination of this Lease pursuant to Section 15.2(a)(i) or pursuant to law, whether or not Landlord shall have recovered any amounts under Section 15.2(c) or 15.2(d), Landlord, at its option, shall be entitled to recover from Tenant and Tenant shall pay to Landlord, on demand, as and for liquidated and agreed final damages for Tenant's default, (i) the amount by which the Base Rent and all Additional Rent reserved hereunder for the unexpired portion of the Term demised herein as if the Lease had not expired or been terminated exceeds the then fair and reasonable rental value of the Premises for the same period, discounted to present worth at the prime rate (as defined in Section 24.6), minus any such monthly deficiencies previously recovered from Tenant for such unexpired portion of the Term demised herein under Section 15.2(c), plus (ii) all reasonable legal fees and other costs and expenses incurred by Landlord as a result of Tenant's default under this Lease and the exercise of any rights and remedies hereunder. (f) If any statute or rule of law governing a proceeding in which such liquidated final damages provided for in Section 15.2(e) are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Landlord shall be entitled to the maximum amount allowable under such statute or rule of law. (g) Mention in this Lease of any particular remedy shall not preclude Landlord from any other remedy at law or in equity. No right or remedy conferred upon or reserved to Landlord in this Lease is intended to be exclusive of any other right or remedy; and each and every right and remedy shall be cumulative and in addition to any other right or remedy contained in this Lease. No delay or failure by Landlord or Tenant to enforce its rights under this Lease shall be construed as a waiver, modification or relinquishment thereof. Tenant waives any rights of redemption granted by any laws if Tenant is evicted or dispossessed, or if Landlord obtains possession of the Premises by reason of the violation by Tenant of any of the terms of this Lease.

Appears in 2 contracts

Samples: Assignment and Assumption of Lease and Guaranty (AEI Income & Growth Fund 26 LLC), Lease Agreement (Aei Income & Growth Fund 24 LLC)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Upon the occurrence of an Event of Default and after the lapse of any applicable period of cure, Landlord may terminate this Lease by giving to Tenant notice may, provided such is done in accordance with applicable laws, immediately or at any time thereafter (notwithstanding any license or waiver of any former breach or waiver of the Landlord's intention to do sobenefit hereof, or consent in a former instance), and without demand or notice, in which event the Term shall endperson or by agent or attorney, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of enter the Premises or any part thereof shall cease on and repossess the date stated same as of its former estate, or terminate this Lease by written notice to Tenant, and in such either event expel Tenant and those claiming through or under it and remove their effects (forcibly, if necessary) without being deemed guilty of any manner of trespass and without prejudice to any remedy which might otherwise be used for arrears of Base Rent or Additional Rent or breach of covenant, and upon entry or written notice but Tenant's obligations under of termination, or automatic termination, both as aforesaid, this Lease shall continue terminate and Landlord, in full force addition to all other remedies which it may have at law or equity, and effect; andnot in limitation thereof, shall have the remedies provided in this Article XII. (cb) If this Lease shall be terminated as provided in Section 12.2(a) hereof, Tenant shall forthwith pay to Landlord as damages, in addition to all sums which were due prior to the date of such termination, a sum equal to the amount by which the Base Rent and Additional Rent for the remainder of the Lease Term exceeds the fair rental value of the Premises for the remainder of the Lease Term. For the purposes of computing damages payable pursuant to this Section 12.2, it is agreed that there shall be payable to Landlord as part of such damages at the time of such termination the product of the Additional Rent due with respect to Taxes, Insurance Costs and Operating Costs for the most recently ended fiscal, calendar or lease year, as the case may be, times the number of years remaining of the Lease Term, it being assumed that the amount of such Additional Rent payments so payable for the most recently ended fiscal, calendar year or lease year would have remained constant for each subsequent year of the Lease Term. Tenant also (i) will indemnify and save Landlord harmless from and against all reasonable expenses which Landlord may enforce incur, including, without limitation, legal expenses, reasonable attorneys' fees, brokerage fees, and the provisions cost of this putting the Premises in the condition required to be maintained hereunder or preparing the same for rental; and (ii) agrees that Landlord may re-let the Premises or any part or parts thereof, either in the name of Landlord or otherwise for a term or terms which may, at Landlord's option, be less than or exceed the period which would otherwise have constituted the balance of the Lease Term and may enforce and protect grant concessions or free rent. The good faith failure of Landlord to re-let the rights Premises or any part or parts thereof, or, if the Premises are re-let, for the good faith failure to collect the rents due under such re-letting, shall not release or affect Tenants liability for damage so long as Landlord hereunder does not act arbitrarily or capriciously. Any suit brought to collect the amount of deficiency for any month or other period shall not prejudice in any way the tight of Landlord to collect the deficiency for any subsequent month or period by a suit or suits similar proceeding. Landlord, at Landlord's option, may make such alterations, repairs, replacements and decorations on the Premises as Landlord in equity or at law Landlord's reasonable judgment considers advisable and necessary for the specific performance purpose of re-letting the Premises, and the making of such alterations or decorations shall not operate or be construed to release Tenant from liability hereunder. Landlord shall in no event be liable in any covenant or agreement contained herein, or way for the enforcement of any other appropriate legal good faith failure to re-let the Premises, or. if the Premises are re-let, for the good faith failure to collect the rents due under such re-letting, provided always that Landlord does not act arbitrarily or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Leasecapriciously.

Appears in 2 contracts

Samples: Office Lease (Learningstar Inc), Office Lease (Smarterkids Com Inc)

Landlord’s Remedies. If a Default occursUpon the occurrence of any event of default specified in this Lease, Landlord shall have Landlord, at its option, may exercise one (1) or more of the following remedies, in addition to all other rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in remedies provided at law or in equity:. (a) A. Landlord may may, without judicial process, terminate this Lease by giving to Tenant (whereupon all obligations and liabilities of Landlord hereunder shall terminate) and without further notice repossess the Premises without having any liability therefor (including specifically any liability or duty under Section 93.002 of the Texas Property Code which is specifically superseded by this Paragraph 18A) and be entitled to recover all loss and damage Landlord may suffer by reason of such termination, whether through inability to relet the Premises on satisfactory terms or otherwise, including without limitation, accrued Rent and interest thereon, accrued late charges and interest thereon, the unamortized cost of the Improvements made at Landlord's intention expense pursuant to do soParagraph 2 hereof or otherwise, broker's fees and commissions, attorneys' fees, moving allowance and any other costs incurred by Landlord in connection with making or executing this Lease, the cost of recovering the Premises and the costs of reletting the Premises (including without limitation advertising costs, brokerage fees, leasing commissions, reasonable attorneys' fees and refurbishing costs). If such termination is caused by the failure to pay Rent and/or the abandonment of any substantial portion of the Premises, Landlord may elect, by sending written notice thereof to Tenant, to receive liquidated damages in an amount equal to the product of (i) the sum of the all Rent and other charges payable hereunder for the month during which event this Lease is terminated multiplied by (ii) the Term lesser of (x) the product of sixty percent (60%) multiplied by the number of full calendar months which would have remained in the term of this Lease but for such termination or (y) twenty-four (24). Such liquidated damages shall endbe in lieu of the payment of loss and damage accruing after the date of such termination, but shall not be in lieu of or reduce in any way any amounts or damages payable by Tenant to Landlord and accruing prior to the date of termination, which for all purpose shall include, but not be limited to, accrued Rent and interest thereon, late charges and interest thereon the unamortized cost of Tenant's improvements, broker's fees, and all rightcommissions, title attorneys' fees, any moving allowances and interest of Tenant hereunder any other costs incurred by Landlord in connection with making or executing this Lease. Nothing contained in this Lease shall expire, on the date stated in such notice; (b) Landlord may terminate limit or prejudice the right of Tenant Landlord to possession prove for and obtain in proceedings for bankruptcy or insolvency by reason of the Premises termination of this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, the damages are to be proved, whether the amount be greater, equal to, or less than the amount of the loss or damages referred to above. B. Landlord may, without terminating this Lease by giving notice to Tenant that judicial process, immediately terminate Tenant's right of possession of the Premises by delivering to Tenant written notice of such termination (whereupon all obligations and liability of Landlord hereunder shall end terminate), but not terminate this Lease, and, without notice or demand, enter upon the Premises or any part thereof and take absolute possession of the same, expel or remove Tenant and any other person or entity who may be occupying the Premises, by force if necessary, change the locks, without having any liability therefor (including specifically any liability or duty under Section 93.002 of the Texas Property Code which is specifically superseded by this Xxxxxxxxx 00X) and at Landlord's option, Landlord may relet the Premises or any part thereof for such terms and such rents as Landlord may in its sole discretion elect. In the event of a termination of Tenant's possession of the Premises under this Part B and notwithstanding anything in Section 93.002 of the Texas Property Code to the contrary, Landlord shall have no obligation whatsoever to tender to Tenant a key for new locks installed in the Premises and Tenant shall have no further right to possession of the Premises. In the event Landlord shall elect so to relet, then rent received by Landlord from such reletting shall be applied first, to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord (in such order as Landlord shall designate), second, to the payment of any cost of such reletting, including, without limitation, refurbishing coats, reasonable attorneys' fees, advertising costs, brokerage fees and leasing commissions, and third, to the payment of Rent due and unpaid hereunder (in such order as Landlord shall designate), and Tenant shall satisfy and pay any deficiency upon demand thereof from time to time. Landlord shall not be responsible or liable for any failure, and Tenant hereby waives any obligation on the date stated part of Landlord, to relet the Premises or any part thereof or to collect any rent due upon any such reletting. No re-entry or taking of possession of the Premises by Landlord pursuant to this Paragraph 18B shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of such termination is given to Tenant pursuant to Paragraph 18A above and, notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. If Landlord relets the Premises (it being understood and agreed that Landlord shall have no obligation whatsoever to relet the Premises), either before or after the termination of this Lease for a rental rate greater than the Rent provided in this Lease, then for that portion of the Premises that is subject to such noticenew lease, whereupon all such excess rentals shall be and remain the right exclusive property of Landlord, and Tenant shall not be, at any time, entitled to possession recover said excess rental. C. Landlord may, without judicial process enter upon the Premises, by force if necessary, without having any civil or criminal liability therefor (including specifically any liability or duty under Section 93.002 of the Texas Property Code which is superseded by this Paragraph 18C), and do whatever Tenant is obligated to do under the terms of this Lease, and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in effecting compliance with Tenant's obligations under this Lease plus an administrative fee equal to ten percent (10%) of the amount of such reimbursement. Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action, whether caused by the negligence of Landlord or otherwise. D. Any repossession of or re-entering on the Premises by Landlord under this Article shall be without liability or responsibility for damages to Tenant. No repossession of or re-entering upon the Premises or any part thereof pursuant to Paragraphs 18B or 18C or otherwise and no reletting of the Premises or any part thereof pursuant to Paragraph 18B shall cease on relieve Tenant or any guarantor of its liabilities and obligations hereunder, all of which shall survive such repossession or re-entering. In the date stated event of any such repossession of or re-entering upon the Premises or any part thereof by reason of the occurrence of an event of default, Tenant will continue to pay to Landlord Rent required to be paid by Tenant. E. No right or remedy herein conferred upon or reserved to Landlord is intended to be exclusive of any other right or remedy, and each and every right and remedy shall be cumulative and in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights addition to any other right or Landlord remedy given hereunder by a suit or suits now or hereafter existing at law or in equity or at law for by statute. In addition to the specific performance other remedies provided in this Lease, Landlord shall be entitled, to the extent permitted by applicable law, to injunctive relief in case of any covenant or agreement contained hereinthe violation, or for the enforcement attempted or threatened violation, of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the covenants, agreements, conditions or provisions of this Lease, or to a decree compelling performance of any of the covenants, agreements, conditions or provisions of this Lease, or to any other remedy allowed to Landlord at law or in equity. Tenant shall indemnify and hold Landlord harmless from any and all costs, expenses (including reasonable attorneys' fees), claims and causes of action arising from or in connection with any default by Tenant under this Lease. F. If Landlord repossesses the Premises pursuant to the authority herein granted or provided at law or in equity, then Landlord shall have the right to (i) keep in place and use or (ii) remove and store all of the furniture, fixtures and equipment at the Premises, including that which is owned by or leased to Tenant at all times prior to any foreclosure thereon by Landlord or repossession thereof by any lessor thereof or third party having a superior lien thereon. Landlord also shall have the right to relinquish possession of all or any portion of such furniture, fixtures, equipment and other property to any person (CLAIMANT) who presents to Landlord a copy of any instrument represented by Claimant to have been executed by Tenant (or any predecessor of Tenant) granting Claimant the right under various circumstances to take possession of such furniture, fixtures, equipment or other property, without the necessity on the part of Landlord to inquire into the authenticity or legality of said instrument. The rights of Landlord herein stated shall be in addition to any and all other rights that Landlord has or may hereafter have at law or in equity; and Tenant stipulates and agrees that the rights herein granted Landlord are commercially reasonable.

Appears in 2 contracts

Samples: Commercial Lease Agreement (Mannatech Inc), Commercial Lease Agreement (Mannatech Inc)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant, and without limiting Landlord’s right to indemnification as provided in Article 8.2, Landlord shall have the following remedies, in addition to all other rights and remediesremedies provided by Law or otherwise provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have resort cumulatively, or in the alternative: A. Landlord may, at Landlord’s election, keep this Lease in effect and enforce, by an action at law or in equity:, all of its rights and remedies under this Lease including, without limitation, (i) the right to recover the rent and other sums as they become due by appropriate legal action, (ii) the right to make payments required by Tenant, or perform Tenant’s obligations and be reimbursed by Tenant for the cost thereof with interest at the then maximum rate of interest not prohibited by Law from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant, and (iii) the remedies of injunctive relief and specific performance to prevent Tenant from violating the terms of this Lease and/or to compel Tenant to perform its obligations under this Lease, as the case may be. (a) B. Landlord may may, at Landlord’s election, terminate this Lease by giving to Tenant written notice of the Landlord's intention to do sotermination, in which event the Term this Lease shall end, and all right, title and interest of Tenant hereunder shall expire, terminate on the date stated set forth for termination in such notice. Any termination under this Subarticle shall not relieve Tenant from its obligation to pay to Landlord all Base Monthly Rent and Additional Rent then or thereafter due, or any other sums due or thereafter accruing to Landlord, or from any claim against Tenant for damages previously accrued or then or thereafter accruing. In no event shall any one or more of the following actions by Landlord, in the absence of a written election by Landlord to terminate the Lease, constitute a termination of the Lease: (1) Appointment of a receiver or keeper in order to protect Landlord’s interest hereunder; (b2) Consent to any subletting of the Leased Premises or assignment of this Lease by Tenant, whether pursuant to the provisions hereof or otherwise; or (3) Any other action by Landlord or Landlord’s agents intended to mitigate the adverse effects of any breach of this Lease by Tenant, including, without limitation, any action taken to maintain and preserve the Leased Premises or any action taken to relet the Leased Premises, or any portion thereof, for the account of Tenant and in the name of Tenant. C. In the event Tenant breaches this Lease and abandons the Leased Premises, Landlord may terminate the right this Lease, but this Lease shall not terminate unless Landlord gives Tenant written notice of Tenant to possession of the Premises without terminating termination. If Landlord does not terminate this Lease by giving written notice to Tenant that Tenant's right of possession shall end on the date stated in such noticetermination, whereupon Landlord may enforce all its rights and remedies under this Lease, including the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations recover rent as it becomes due under this Lease as provided in California Civil Code Section 1951.4, as in effect on the Effective Date of this Lease. D. In the event Landlord terminates this Lease, Landlord shall continue be entitled, at Landlord’s election, to damages in full force and effectan amount as set forth in California Civil Code Section 1951.2, as in effect on the Effective Date of this Lease. For purposes of computing damages pursuant to Section 1951.2, an interest rate equal to the maximum rate of interest then not prohibited by Law shall be used where permitted. Such damages shall include, without limitation: (1) The worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided, 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; and (c2) Any other amount necessary to compensate Landlord may enforce for all detriment proximately caused by Tenant’s failure to perform Tenant’s obligations under this Lease, or which in the provisions ordinary course of this Lease and may enforce and protect things would be likely to result therefrom, including without limitation, the rights following: (i) expenses for cleaning, repairing or restoring Landlord hereunder by a suit Initials W Tenant Initials NH the Leased Premises; (ii) expenses for altering, remodeling or suits in equity or at law otherwise improving the Leased Premises for the specific performance purpose of any covenant reletting, including removal of existing leasehold improvements and/or installation of additional leasehold improvements (regardless of how the same is funded, including reduction of rent, a direct payment or agreement contained hereinallowance to a new tenant, or otherwise); (iii) broker’s fees, advertising costs and other expenses of reletting the Leased Premises; (iv) costs of carrying and maintaining the Leased Premises which costs would have been billed to Tenant as Additional Rent had Tenant not defaulted and which include but are not limited to taxes, insurance premiums, utility charges, landscape maintenance costs, costs of maintaining electrical, plumbing and HVAC equipment and costs for providing security; (v) expenses incurred in removing, disposing of and/or storing any of Tenant’s personal property, inventory or trade fixtures remaining therein; (vi) attorneys’ fees, expert witness fees, court costs and other reasonable expenses incurred by Landlord but not limited to taxable costs) in retaking possession of the enforcement of Leased Premises, establishing damages hereunder, and re-leasing the Leased Premises; and (vii) any other appropriate legal expenses, costs or equitable remedy, including injunctive relief and recovery damages otherwise incurred or suffered as a result of all moneys due or to become due from Tenant under any of the provisions of this LeaseTenant’s default.

Appears in 2 contracts

Samples: Industrial Space Lease (Corsair Gaming, Inc.), Industrial Space Lease (Corsair Gaming, Inc.)

Landlord’s Remedies. If a an Event of Default occurs, shall have occurred and is continuing Landlord shall have the following rights and remediesremedies then or at any time thereafter, which the election of which, singly or one or more in combination with each other, shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord at the sole option of any other right or remedy which Landlord may have in law or equityLandlord: (a) To make any payment required to be made by Tenant or to do any act required to be done by Tenant, provided that the making of any such payment or the expense of doing such act by Landlord may shall constitute Additional Rent hereunder due and payable together with interest and late charges with the installment of Monthly Base Rent next due, but the making of such payment or the doing of such act by Landlord shall not operate to cure such Event of Default or to estop Landlord from the pursuit of any remedy to which Landlord would otherwise be entitled. (b) To terminate this Lease by giving written notice to Tenant, whereupon this Lease shall end and all rights of Tenant (but not the liability of Tenant) hereunder shall expire and terminate, any other notice to quit or notice of the Landlord's intention to do sore-enter the Premises being hereby expressly waived by Tenant. Upon such termination by Landlord, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to will at once surrender possession of the Premises to Landlord and remove all of Tenant's Personal Property therefrom, and Landlord may forthwith re-enter and repossess the Premises and remove all persons and effects therefrom, by summary proceeding, ejectment or other legal action or by using such force as may be permitted. Landlord shall be under no liability by reason of any such reentry, repossession or removal. (c) To enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim for any damages or liability therefor and without terminating this Lease by giving Lease, and, if Landlord so elects, make such Alterations and repairs as, in Landlord's absolute discretion, may be necessary to relet the Premises or any part thereof, without notice to Tenant that Tenant's right , for such rent and such use, and for such period of possession time and subject to such terms and conditions as Landlord may deem advisable, and receive the rent therefor. Upon each such reletting, all rent received by Landlord from such reletting shall end on be applied, first, to the date stated in such notice, whereupon the right payment of any obligations of Tenant to possession Landlord hereunder, including interest thereon, other than any Rent; second, to the payment of any costs and expenses of such reletting, including brokerage fees, reasonable attorneys' fees and the costs of Alterations, and repairs; third, to the payment of any Monthly Base Rent, Percentage Rent and Additional Rent due and unpaid, together with interest and late charges; and the residue, if any, shall be held by Landlord and applied in payment of future Rent as the same may become due and payable hereunder. Tenant agrees to pay Landlord, on demand, any deficiency that may arise by reason of such reletting. Landlord shall not be liable for any failure to relet the Premises or any part thereof shall cease on the date stated in or for any failure to collect any rent due upon any such notice but Tenant's obligations under reletting. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Leasesuch prior default.

Appears in 2 contracts

Samples: Lease Agreement (Smith & Wollensky Restaurant Group Inc), Specific Assignment, Subordination, and Attornment Agreement (New York Restaurant Group Inc)

Landlord’s Remedies. If a Default occurs21.1 Upon the occurrence of any of the Events of Default, Landlord shall have the option to pursue any one or more of the following remedies, in addition to any and all other rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which remedies Landlord may have in law under this Lease or equityby law, without any notice or demand whatsoever: (a) Landlord and Landlord’s agents may terminate at any time, re-enter the Premises, or any part thereof, without notice, either by summary proceedings, distress proceedings, or by any other applicable action or proceeding, or by force or otherwise (without being liable to indictment, prosecution or damages therefor), and may repossess the Premises and dispossess Tenant and any other persons from the Premises and remove any and all of its or their property and effects from the Premises, without liability or damage thereto to the end that Landlord may have, hold and enjoy the Premises and in no event shall re-entry be deemed an acceptance and surrender of this Lease; (b) Landlord, at its option, may relet the whole or any part or parts of the Premises from time to time, either in the name of Landlord or otherwise, to such tenant or tenants, for such term or terms ending before, on or after the Expiration Date, at such rental or rentals and upon such other conditions, which may include concessions and free rent periods, as Landlord in its sole discretion may determine. Landlord shall have no obligation, other than as prescribed by the laws of the State of Maryland, to relet the Premises or any part thereof and shall in no event be liable, other than as prescribed by the laws of the State of Maryland, for refusal to relet the Premises or any part thereof, or, in the event of any such reletting, for refusal or failure to collect any rent upon any such reletting, and no such refusal or failure shall operate to relieve Tenant of any liability under this Lease by giving or otherwise to Tenant notice of affect any such liability. Landlord, at Landlord’s option, may make such repairs, improvements, alterations, additions, decorations and other physical changes in and to the Premises as Landlord's intention to do so, in which its sole discretion, considers advisable or necessary in connection with any such reletting or proposed reletting, without relieving Tenant of any liability under this Lease or otherwise affecting any such liability; (c) Either before or after any re-entry or reletting under this Article XXI, Landlord may, by notice to Tenant, declare the Term hereof ended and this Lease terminated and, in the event such notice is given, this Lease and the Term and estate hereby granted (whether or not the Term shall end, and all right, title and interest of Tenant hereunder have commenced) shall expire, terminate on the date stated set forth in such noticenotice with the same effect as if that day were the Expiration Date, but Tenant shall remain liable for damages as provided in Section 21.3; and (d) Distrain for rent and other charges due as rent and/or additional rent and be entitled to the benefit of all laws now or hereafter made applicable to distrain or any action in the nature of distraint. 21.2 In the event of any breach or threatened breach by Tenant or any person claiming through or under Tenant of any of the terms of this Lease, Landlord shall be entitled to enjoin such breach or threatened breach and shall have the right to invoke any right allowed at law or in equity, by statute or otherwise, as if re-entry, summary proceedings or other specific remedies were not provided for in this Lease. 21.3 If this Lease shall terminate as provided in Subdivision (c) of Section 21.1, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re-enter the Premises as provided in Subdivision (a) of Section 21.1, or by or under any summary proceeding or any other action or proceeding, then, in any of said events: (a) Tenant shall pay to Landlord all Rent to the date upon which this Lease shall have been terminated or to the date of re-entry upon the Premises by Landlord, as the case may be; (b) Landlord may terminate the right of shall be entitled to retain all monies, if any, paid by Tenant to possession Landlord, whether as advance rent, security or otherwise, but such monies shall be credited by Landlord against any Rent due at the time of such termination or re-entry or, at Landlord’s option, against any damages payable by Tenant; (c) Tenant shall be liable for and shall pay to Landlord, as damages, any deficiency between the Rent payable hereunder for the period which otherwise would have constituted the unexpired portion of the Term (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination or reentry) and the net amount, if any, of rents (“Net Rent”) collected under any reletting effected pursuant to the provisions of Subdivision (b) of Section 21.1 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 or Landlord’s re-entry upon the Premises and in connection with such reletting including all repossession costs, brokerage commissions, legal expenses, alteration costs and other expenses of preparing the Premises for such reletting); (d) Any deficiency in accordance with Subdivision (c) above shall be paid in monthly installments by Tenant on the days specified in this Lease for the payment of installments of Basic Rent. Landlord shall be entitled to recover from Tenant each 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 prior or subsequent month by a similar proceeding. Alternatively, suit or suits for the recovery of such deficiencies may be brought by Landlord from time to time at its election; (e) Whether or not Landlord shall have collected any monthly deficiencies as aforesaid, Landlord shall be entitled, to recover from Tenant, and Tenant shall pay Landlord, on demand, as and for liquidated and agreed final damages and not as a penalty, a sum equal to the amount by which the Basic Rent and Additional Rent payable hereunder for the period to the Expiration Date from the latest of the date of termination of this Lease, the date of re-entry or the date through which monthly deficiencies shall have been paid in full (conclusively presuming the Additional Rent to be the same as payable for the year immediately preceding such termination or re-entry) exceeds the then fair and reasonable rental value of the Premises without terminating this Lease for the same period, both discounted at the rate of 8% per annum to present worth. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, the Premises, or any part thereof, shall have been relet by giving notice Landlord for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent 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 (as the case may be) so relet during the term of the reletting; and (f) In no event shall Tenant that Tenant's right be entitled (i) to receive any excess of possession shall end on any Net Rent under subdivision (c) over the date stated in such notice, whereupon the right of sums payable by Tenant to possession Landlord hereunder or (ii) in any suit for the collection of damages pursuant to this Section, to a credit in respect of any Net Rent from a reletting except to the extent that such Net Rent is actually received by Landlord prior to the commencement of such suit. If the Premises or any part thereof should be relet in combination with other space, then proper apportionment on a square foot area basis shall cease be made of the rent received from such reletting and the expenses of reletting. 21.4 If, on the date stated account of any breach or default by Tenant in Tenant’s obligations hereunder, it shall become necessary for Landlord to employ an attorney to enforce or defend any of Landlord’s rights or remedies hereunder, Tenant agrees to pay any reasonable attorney’s fees incurred by Landlord in such notice but connection. 21.5 All of the foregoing remedies are cumulative and the decision by Landlord to exercise one of the remedies shall not preclude Landlord from exercising any other of the remedies at such time as Landlord deems fit, and pursuit by Landlord of any remedy herein provided or any other remedies provided by law shall not constitute a forfeiture or waiver of any Rent due to Landlord hereunder or of any damages to which Landlord may lawfully be entitled by reason of any default by Tenant's obligations . 21.6 Any re-entry or re-letting under this Lease Article XXI shall continue in full force and effect; and (c) Landlord may enforce the provisions not be deemed to constitute a surrender or termination of this Lease and may enforce and protect or of any rights reserved by Landlord hereunder, nor a release of Tenant from the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant of its obligations hereunder, unless Landlord shall specifically notify Tenant in writing to that effect. Any such re-entry or agreement contained herein, or for the enforcement of re-letting shall not preclude Landlord from thereafter at any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of time terminating this LeaseLease as herein provided.

Appears in 2 contracts

Samples: Lease Agreement (Cerecor Inc.), Lease Agreement (Cerecor Inc.)

Landlord’s Remedies. If a Default occurs(a) Upon the occurrence of an Event of Default, Landlord shall have the following remedies, in addition to any and all other rights and remediesremedies available at Law or in equity or otherwise provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently any one or consecutively in any combination and which shall not operate to exclude or deprive Landlord more of any other right or remedy which Landlord may have resort to cumulatively, consecutively, or in law or equitythe alternative: (ai) Landlord may continue this Lease in full force and effect, and collect Rent and other charges as and when due, without prejudice to Landlord’s right to subsequently elect to terminate this Lease on account of such Event of Default; (ii) Landlord may terminate this Lease by giving upon written notice to Tenant notice of the Landlord's intention to do sosuch effect, in which event this Lease (and all of Tenant’s rights hereunder) shall immediately terminate, but such termination shall not affect those obligations of Tenant which are intended by their terms to survive the Term shall endexpiration or termination of this Lease, and all rightTenant shall remain liable for damages as hereinafter set forth in this Section 14.2. This Lease may also be terminated by a judgment specifically providing for termination; (iii) Landlord may terminate Tenant’s right of possession without terminating this Lease upon written notice to Tenant to such effect, title in which event Tenant’s right of possession of the Premises shall immediately terminate, but this Lease shall continue subject to the effect of this Section 14.2; (iv) Landlord may, but shall not be obligated to, perform any defaulted obligation of Tenant, and interest to recover from Tenant, as Additional Rent, the costs incurred by Landlord in performing such obligation. Notwithstanding the foregoing, or any other notice and cure period set forth herein, Landlord may exercise its rights under this Section 14.2(a)(iv) without prior notice or upon shorter notice than otherwise required hereunder (and as may be reasonable under the circumstances) in the event of any one or more of the following circumstances is present: (i) there exists a reasonable risk of prosecution of Landlord unless such obligation is performed sooner than the stated cure period; (ii) there exists an emergency arising out of the defaulted obligation; or (iii) the Tenant hereunder has failed to obtain insurance required by this Lease, or such insurance has been canceled by the insurer without being timely replaced by Tenant, as required herein; and (v) Landlord shall expirehave the right to recover damages from Tenant, on the date stated as set forth in such notice;this Section 14.2. (b) Upon any termination of this Lease or of Tenant’s right of possession, Landlord, at its sole election, may (i) re-enter the Premises, either by summary proceedings, ejectment or otherwise, and remove and dispossess Tenant and all other persons and any and all property from the same, as if this Lease had not been made, (ii) remove all property from the Premises and store the same in a public warehouse or elsewhere at Tenant’s expense, and/or (iii) deem such property to be abandoned, and, in such event, Landlord may terminate dispose of such property at Tenant’s expense, free from any claim by Tenant or anyone claiming by, through or under Tenant. It shall not constitute a constructive or other termination of this Lease or Tenant’s right to possession if Landlord, pursuant to the terms of this Lease (a) exercises its right to repair or maintain the Premises, (b) performs any unperformed obligations of Tenant, (c) stores or removes Tenant’s property from the Premises after Tenant’s dispossession, (d) attempts to relet, or, in fact, does relet, the Premises or (e) seeks the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under this Lease. (c) If this Lease shall have been terminated as provided in this Article, Tenant shall pay the Basic Rent, Additional Rent, and other sums payable hereunder up to the time of such termination, and thereafter Tenant, until the end of what would have been the Term of this Lease in the absence of such termination, and whether or not the Premises shall have been relet, shall be liable to Landlord for, and shall pay to Landlord, as liquidated current damages: (x) the Basic Rent, Additional Rent, and other sums that would be payable hereunder if such termination had not occurred, less the net proceeds, if any, of any reletting of the Premises, after deducting all expenses incurred by Landlord in connection with such reletting, including, without limitation, all repossession costs, brokerage commissions, legal expenses, attorneys’ fees, advertising, expenses of employees, alteration costs and expenses of preparation for such reletting; and (y) if, in accordance with Section 3.1(a), Tenant commenced payment of the full amount of Basic Rent on any day other than the Commencement Date, the amount of Basic Rent that would have been payable during the period beginning on the Rent Commencement Date and ending on the day Tenant commenced payment of the full amount of Basic Rent under such Section 3.1(a). Tenant shall pay the portion of such current damages referred to in clause (x) above to Landlord monthly on the days which the Basic Rent would have been payable hereunder if this Lease had not been terminated, and Tenant shall pay the portion of such current damages referred to in clause (y) above to Landlord upon such termination. (d) At any time after termination of this Lease as provided in this Article, whether or not Landlord shall have collected any such current damages, as liquidated final damages and in lieu of all such current damages beyond the date of such demand, at Landlord’s election Tenant shall pay to Landlord an amount equal to the excess, if any, of the Basic Rent, Additional Rent and other sums as hereinbefore provided which would be payable hereunder from the date of such demand assuming that, for the purposes of this paragraph, annual payments by Tenant on account of Taxes and Operating Expenses would be the same as the payments required for the immediately preceding Operating or Tax Year plus a three percent (3%) annual increase per year for what would be the then unexpired Term of this Lease if the same remained in effect, over the then fair net rental value of the Premises for the same period. (e) In case of any Event of Default, re-entry, expiration and dispossession by summary proceedings or otherwise, Landlord may (i) relet the Premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms which may at Landlord’s option be equal to or less than or exceed the period which would otherwise have constituted the balance of the Term of this Lease and may grant concessions or free rent to the extent that Landlord considers advisable and necessary to re let the same and (ii) make such alterations, repairs and decorations in the Premises as Landlord considers advisable and necessary for the purpose of reletting the Premises; and the making of such alterations, repairs and decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Tenant, for itself and any and all persons claiming through or under Tenant, including its creditors, upon the termination of this Lease and of the term of this Lease in accordance with the terms hereof, or in the event of entry of judgment for the recovery of the possession of the Premises without terminating in any action or proceeding, or if Landlord shall enter the Premises by process of law or otherwise, hereby waives any right of redemption provided or permitted by any statute, law or decision now or hereafter in force, and does hereby waive, surrender and give up all rights or privileges which it or they may or might have under and by reason of any present or future law or decision, to redeem the Premises or for a continuation of this Lease for the term of this Lease hereby demised after having been dispossessed or ejected therefrom by giving notice process of law, or otherwise. (f) In addition to any other remedies under this Article 14, Tenant shall immediately become liable to Landlord for all damages proximately caused by Tenant’s breach of its obligations under this Lease, including all costs Landlord incurs in reletting (or attempting to relet) the Premises or any part thereof, including, without limitation, brokers’ commissions, expenses of cleaning, altering and preparing the Premises for new tenants, legal fees and all other like expenses properly chargeable against the Premises and the rental received therefrom and like costs, provided that Tenant's right of possession nothing set forth in this Section 14.2(f) shall end on be construed to impose upon Landlord any obligation to relet the date stated Premises or to mitigate its damages hereunder, except to the extent expressly required under applicable Law or as otherwise specifically set forth herein. If Landlord does elect to relet the Premises (or any portion thereof), such reletting may be for a period shorter or longer than the remaining Term, and upon such terms and conditions as Landlord deems appropriate, in its sole and absolute discretion, and Tenant shall have no interest in any sums collected by Landlord in connection with such notice, whereupon reletting except to the right of Tenant to possession of extent expressly set forth herein. If the Premises or any part thereof shall cease be relet in combination with any other space, then proper apportionment on a per-square foot basis shall be made of the rent received from such reletting and of the expenses of such reletting. If Landlord shall succeed in reletting the Premises during the period in which Tenant is paying monthly rent damages as described in Section 14.2(c), Landlord shall credit Tenant with the net rents collected by Landlord from such reletting, after first deducting from the gross rents, as and when collected by Landlord, (A) all expenses incurred or paid by Landlord in collecting such rents, and (B) any theretofore unrecovered costs associated with the termination of this Lease or Landlord’s reentry into the Premises, including any theretofore unrecovered expenses of reletting or other damages payable hereunder. If the Premises or any portion thereof be relet by Landlord for the unexpired portion of the Term before presentation of proof of such damages to any court, commission or tribunal, the amount of rent reserved upon such reletting shall, prima facie, constitute the fair and reasonable rental value for the Premises, or part thereof, so relet for the term of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Premises or, if the Premises or any part are relet, for its failure to collect the rent under such reletting, and no such refusal or failure to relet or failure to collect rent shall release or affect Tenant’s liability for damages or otherwise under this Lease. In all cases, and notwithstanding anything herein to the contrary, Landlord shall use reasonable efforts to relet the Premises and to otherwise mitigate its damages; provided, however, that such efforts shall not require Landlord to (i) lease the Premises prior to any other available space in the Buildings; (ii) accept terms for the re-leasing of all or any portion of the Premises that are less than the then-prevailing market terms for comparable space in Comparable Buildings as reasonably determined by Landlord; or (iii) accept as a tenant any person or entity that does not meet Landlord’s reasonable standards for financial capability and business reputation. Landlord shall in no event be liable in any way whatsoever for failure to relet the Premises, or in the event that the Premises are relet, for failure to collect the rent under such reletting. (g) If the trustee or the debtor in possession assumes the Lease under applicable bankruptcy law, it may assume and assign its interest in this Lease only if the proposed assignee first provides Landlord with (1) notice of such proposed assignment, setting forth (i) the name and address of the proposed assignee, its proposed use of the Premises, reasonably detailed character and financial references for such person (including its most recent balance sheet and income statements certified by its chief financial officer or, if available, a certified public accountant) and any other information reasonably requested by Landlord, and (ii) all of the terms and conditions of such offer, shall be given to Landlord by Tenant or such trustee no later than twenty (20) days after receipt by Tenant or such trustee of such offer, but in any event no later than ten (10) days prior to the date stated in that Tenant or such notice but trustee shall make application to a court of competent jurisdiction for authority and approval to assume this Lease and enter into such assignment; (2) Adequate Assurance of Future Performance (as hereinafter defined) of all of Tenant's ’s obligations under this Lease, and (3) Landlord determines, in the exercise of its reasonable business judgment, that the assignment of this Lease will not breach any other lease, or any mortgage, financing agreement, or other agreement relating to the Property by which Landlord or the Property is then bound (and Landlord shall continue not be required to obtain consents or waivers from any third party required under any lease, mortgage, financing agreement, or other such agreement by which Landlord is then bound). Landlord shall have the option, to be exercised by notice to Tenant or such trustee given at any time prior to the date the application is filed for court approval of the assumption and assignment of this Lease to the proposed assignee, to accept an assignment of this Lease upon the same terms and conditions and for the same consideration, if any, as the bona fide offer made by such proposed assignee, less any brokerage commissions which may be payable out of the consideration to be paid by such person for the assignment of this Lease. (h) For purposes only of paragraph (g) above, and in full force addition to any other requirements under the Bankruptcy Code, any future federal bankruptcy law and effectapplicable case law, “Adequate Assurance of Future Performance” means at least the satisfaction of the following conditions, which Landlord and Tenant acknowledge to be commercially reasonable: (i) the proposed assignee submitting a current financial statement, audited by a certified public accountant, that allows a net worth and working capital in amounts determined in the reasonable business judgment of Landlord to be sufficient to assure the future performance by the assignee of Tenant’s obligation under this Lease; and (cii) if requested by Landlord may enforce in the provisions exercise of its reasonable business judgment, the proposed assignee obtaining a guarantee (in form and substance satisfactory to Landlord) from one or more persons who satisfy Landlord’s standards of creditworthiness; and (iii) the proposed assignee is of a character and financial worth such as is in keeping with the standards of Landlord in those respects for the Property, the assignee’s tenancy is of the same quality as other tenants at the Property, and the purposes for which the proposed assignee intends to use the Premises are uses expressly permitted by and not prohibited by this Lease and may enforce and protect the rights or Landlord hereunder prohibited by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of lease at the provisions of this LeaseProperty.

Appears in 2 contracts

Samples: Lease Agreement (Arcellx, Inc.), Lease Agreement (Arcellx, Inc.)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulativeany such event set forth above, and which may be exercised by Landlord concurrently or consecutively at the sole option of Landlord, in any combination and which shall not operate addition to exclude or deprive Landlord of any other right or remedy which all remedies Landlord may have in at law or in equity:, (ai) The whole balance of rent and any other charges, whether or not payable as rent, for the entire balance of the term and any renewal or extension thereof for which Tenant has become bound, or any part of such rent and charges, and also all or any costs and sheriff's, marshall's, constable's or other officials' commissions, whether chargeable to Landlord may terminate or Tenant, including watchman's wages, shall be taken to be due and payable and in arrears as if by the terms of this Lease by giving to Tenant said balance of rent and such other charges and expenses were on that date payable in advance. (ii) The term of this Lease shall terminate and become absolutely void, without notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, without any right on the date stated in such notice; (b) Landlord may terminate the right part of Tenant to possession save the forfeiture by payment of the Premises without terminating this Lease any sum due or by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific other performance of any condition, term, agreement or covenant or agreement contained hereinbroken. (iii) THE FOLLOWING SECTIONS SET FORTH WARRANTS OF AUTHORITY FOR ANY ATTORNEY TO CONFESS JUDGMENT AGAINST THE TENANT, or for the enforcement of any other appropriate legal or equitable remedyAND TO HAVE TENANT'S PROPERTY SEIZED OR OTHERWISE SUBJECTED TO ATTACHMENT OR OTHER EXECUTION PROCESS IMMEDIATELY AFTER THE CONFESSED JUDGMENT IS ENTERED. IN GRANTING THESE WARRANTS OF ATTORNEY, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this LeaseTENANT REPRESENTS TO LANDLORD THAT TENANT HAS HAD AN OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL ABOUT THIS MATTER, AND ACTS KNOWINGLY, INTENTIONALLY AND VOLUNTARILY, AND UNCONDITIONALLY WAIVES ANY AND ALL RIGHTS THE TENANT HAS OR MAY HAVE TO PRIOR NOTICE AND AN OPPORTUNITY FOR HEARING UNDER THE RESPECTIVE CONSTITUTIONS OF AND LAWS OF THE UNITED STATES OF AMERICA AND THE COMMONWEALTH OF PENNSYLVANIA.

Appears in 2 contracts

Samples: Lease Agreement (United Bancshares Inc /Pa), Lease Agreement (United Bancshares Inc /Pa)

Landlord’s Remedies. If a Default occursIn the event Tenant is in default pursuant to the conditions set forth in Section 24.01.01 above, Landlord shall have the option of pursuing the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate this Lease by giving re-enter the Premises and perform any obligations and/or take any commercially reasonable actions which Tenant has failed to Tenant notice of the Landlord's intention to do soperform, in which event the Term Tenant shall endreimburse Landlord for any reasonable cost and expenses which Landlord may incur in connection therewith; and Landlord shall not be liable to Tenant for any loss or damage which Tenant may sustain by reason of Landlord's action, and all rightunless caused by Landlord's breach, title and interest of Tenant hereunder shall expireact or omission, on the date stated in such notice;negligence or willful misconduct. (b) Landlord shall be entitled to enjoin any breach by Tenant of any covenant or condition hereunder and may terminate the invoke any right of Tenant or remedy allowed by law or in equity or by statute or otherwise without being restricted to possession of the Premises without terminating these remedies provided in this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; andLease. (c) Landlord may enforce terminate this Lease, or without terminating the provisions Lease, may terminate Tenant's right to possession of the Premises, in either of such events, Tenant shall immediately surrender possession of the Premises and Tenant shall remove the System and all Equipment in accordance with the requirements set forth in Article 16 hereof within thirty (30) days after said termination. Each right and remedy of Landlord set forth in this Lease shall be cumulative, and not alternate, and may enforce and protect the rights be exercised in addition to every other right or Landlord hereunder by a suit remedy provided for in this Lease or suits now or hereafter existing at law or in equity by any statute or at law for the specific performance otherwise. The exercise of any covenant right or agreement contained herein, the pursuit of any remedy by Landlord shall not preclude the simultaneous or for the enforcement later exercise of pursuit by Landlord of any other appropriate legal right or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease.

Appears in 2 contracts

Samples: Land Lease Agreement, Land Lease Agreement

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant under this Lease, Landlord shall have the following Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without additional notice or demand from Landlord, may, at any time before such default is cured, in addition to all other rights and remediesremedies provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in otherwise at law or in equity: : (a) Landlord may terminate this Lease by giving to Tenant notice and Tenant’s right of possession of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; Premises; or (b) Landlord may terminate the Tenant’s right of Tenant to possession of the Premises without terminating this Lease by giving notice Lease; provided, however, that Landlord may, whether Landlord elects to Tenant that Tenant's right of possession shall end on proceed under Subsections (a) or (b) above, relet the date stated in such noticePremises, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on for the date stated in account of Tenant, for such notice but Tenant's obligations under this Lease shall continue in full force rent and effect; and (c) term and upon such terms and conditions as are acceptable to Landlord. In addition, for purposes of any reletting, Landlord may enforce is authorized to decorate, repair, alter and improve the provisions Premises to the extent reasonably deemed necessary by Landlord. In the event of the termination of this Lease by Landlord pursuant to (a) above, Landlord shall be entitled to recover from Tenant (i) all damages and may enforce and protect the rights or other sums that Landlord hereunder by a suit or suits in equity is entitled to recover under any provision of this Lease or at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and Additional Rent accrued and unpaid for the specific performance of any covenant or agreement contained hereinperiod up to and including such termination date; (ii) all other additional sums payable by Tenant, or for the enforcement which Tenant is liable, or in respect of any other appropriate legal or equitable remedywhich Tenant has agreed to indemnify Landlord, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease, that may be then owing and unpaid; (iii) all costs and expenses (including, without limitation, court costs and attorneys’ reasonable fees) incurred by Landlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, without limitation, an amount equal to the positive difference, if any, between (x) the discounted present value (at 9% per annum) of the Base Rent provided to be paid for the remainder of the Term (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the date of termination of this Lease) after deduction (from such fair market rental value) of the projected costs and expenses of reletting the Premises (including the anticipated costs of repairs, but not including brokerage fees or remodeling costs), as reasonably estimated by Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and the Premises are relet and a sufficient sum is not realized therefrom, then to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period (after payment of all Landlord’s reasonable expenses of reletting), Tenant shall, in Landlord’s sole judgment, either (i) pay any such deficiency monthly or (ii) pay such deficiency on an accelerated basis, which accelerated deficiency shall be discounted at a rate of 9% per annum. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b), then Landlord shall at any time have the further right and remedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to clause (b) of this Section 22.2, to terminate Tenant’s right of possession only, without terminating this Lease, Landlord may, at Landlord’s option, enter into the Premises, remove Tenant’s Property, Tenant’s signs and other evidences of tenancy, and take and hold possession thereof, as provided in Section 20 hereof; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant’s obligation to pay the Base Rent and Additional Rent reserved hereunder for the full Term, or from any other obligation of Tenant under this Lease. Any and all property that may be removed from the Premises by Landlord pursuant to the authority of the Lease or of law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the sole risk, cost and expense of Tenant, and in no event or circumstance shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such removal and all storage charges against such property so long as the same shall be in Landlord’s possession or under Landlord’s control. Any such property of Tenant not retaken from storage by Tenant within 30 days after the end of the Term, however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as in a xxxx of sale, without further payment or credit by Landlord to Tenant. Notwithstanding any provision contained herein to the contrary: (a) Tenant’s liability shall be without duplication and shall be limited to actual, direct damages and Tenant shall have no liability for consequential, speculative or punitive damages; and (b) Landlord shall not have and hereby waives any lien or security interest against Tenant’s property and agrees to execute and deliver within ten (10) days following request such documents and instruments as may be requested by Tenant to confirm such waiver.

Appears in 2 contracts

Samples: Industrial Building Lease (Gordmans Stores, Inc.), Industrial Building Lease (Gordmans Stores, Inc.)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant, and without limiting Landlord's right to indemnification as provided in Section 8.2, Landlord shall have the following remedies, in addition to all other rights and remediesremedies provided by Law or otherwise provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have resort cumulatively, or in the alternative: A. Landlord may, at Landlord's election, keep this Lease in effect and enforce, by an action at law or equity:in equity all of its rights and remedies under this Lease including, without limitation, (i) the right to recover the rent and other sums as they become due by appropriate legal action, (ii) the right to make payments required of Tenant, or perform Tenant's obligations and be reimbursed by Tenant for the cost thereof with interest at the then maximum rate of interest not prohibited by Law from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant, and (iii) the remedies of injunctive relief and specific performance to prevent Tenant from violating the terms of this Lease and/or to compel Tenant to perform its obligations under this Lease, as the case may be. (a) B. Landlord may may, at Landlord's election, terminate this Lease by giving to Tenant written notice of the Landlord's intention to do sotermination, in which event the Term this Lease shall end, and all right, title and interest of Tenant hereunder shall expire, terminate on the date stated set forth for termination in such notice; (b) . Any termination under this Section 12.2B shall not relieve Tenant from its obligation to pay to Landlord may terminate the right of all Base Monthly Rent and Additional Rent then or thereafter due, or any other sums due or thereafter accruing to Landlord, or from any claim against Tenant to possession for damages previously accrued or then or thereafter accruing. In no event shall any one or more of the Premises without terminating following actions by Landlord, in the absence of a written election by Landlord to terminate this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such noticeLease, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by constitute a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions termination of this Lease.: ( 1) Appointment of a receiver or keeper in order to protect Landlord's interest hereunder;

Appears in 2 contracts

Samples: Industrial Lease (Quantenna Communications Inc), Industrial Lease (Quantenna Communications Inc)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant under this Lease, Landlord shall have the following Landlord, at its option, and after any applicable notice and cure period (as required pursuant to SECTION 21.2), but without additional notice or demand from Landlord, if any, as provided in SECTION 21.2 has expired, may, in addition to all other rights and remediesremedies provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in otherwise at law or in equity: : (a) Landlord may terminate this Lease by giving to Tenant notice and Tenant's right of possession of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; Premises; or (b) Landlord may terminate the Tenant's right of Tenant to possession of the Premises without terminating this Lease by giving notice Lease; provided, however, that Landlord may, whether Landlord elects to Tenant that Tenant's right of possession shall end on proceed under Subsections (a) or (b) above, relet the date stated in such noticePremises, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on for the date stated account of Tenant, for such rent and term and upon such terms and conditions as are acceptable to Landlord. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by Landlord, in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce its sole discretion. In the provisions event of the termination of this Lease by Landlord pursuant to (a) above, Landlord shall be entitled to recover from Tenant (i) all damages and may enforce and protect the rights or other sums that Landlord hereunder by a suit or suits in equity is entitled to recover under any provision of this Lease or at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and Additional Rent accrued and unpaid for the specific performance of any covenant or agreement contained hereinperiod up to and including such termination date; (ii) all other additional sums payable by Tenant, or for the enforcement which Tenant is liable, or in respect of any other appropriate legal or equitable remedywhich Tenant has agreed to indemnify Landlord, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease, that may be then owing and unpaid; (iii) all costs and expenses (including, without limitation, court costs and attorneys' reasonable fees) incurred by Landlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, without limitation, an amount equal to the positive difference, if any, between (x) the discounted present value (at 6% per annum) of the Base Rent provided to be paid for the remainder of the Term (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the date of termination of this Lease) after deduction (from such fair market rental value) of the projected costs and expenses of reletting the Premises (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and the Premises are relet and a sufficient sum is not realized therefrom, then to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period (after payment of all Landlord's reasonable expenses of reletting), Tenant shall, in Landlord's sole judgment, either (i) pay any such deficiency monthly or (ii) pay such deficiency on an accelerated basis, which accelerated deficiency shall be discounted at a rate of 6% per annum. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and Landlord fails to relet the Premises, then Tenant shall pay to Landlord the sum of (x) the projected costs of Landlord's expenses of reletting (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord and (y) the accelerated amount of Base Rent and Additional Rent due under the Lease for the balance of the Term, discounted to present value at a rate of 6% per annum. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b), then Landlord shall at any time have the further right and remedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to clause (b) of this SECTION 22.2, to terminate Tenant's right of possession only, without terminating this Lease, Landlord may, at Landlord's option, enter into the Premises, remove Tenant's Property, Tenant's signs and other evidences of tenancy, and take and hold possession thereof, as provided in SECTION 20 hereof; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant's obligation to pay the Base Rent and Additional Rent reserved hereunder for the full Term, or from any other obligation of Tenant under this Lease. Any and all property that may be removed from the Premises by Landlord pursuant to the authority of the Lease or of law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the sole risk, cost and expense of Tenant, and in no event or circumstance shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such removal and all storage charges against such property so long as the same shall be in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by Tenant within 30 days after the end of the Term, however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as in a bill of sale, without further payment or credit by Landlord to Tenanx.

Appears in 2 contracts

Samples: Industrial Building Lease (Vascular Solutions Inc), Industrial Building Lease (Research Inc /Mn/)

Landlord’s Remedies. If A. Each of the following shall constitute a Default occursbreach of this Lease by Tenant: (i) Tenant fails to pay any installment or other payment of rent, including, without limitation Rent, Rent Adjustment Deposits or Rent Adjustment within five (5) days of the date that Tenant receives a notice from Landlord stating that the relevant payment is delinquent; (ii) Tenant fails to observe or perform any of the other covenants, conditions or provisions of this Lease or under any Work letter to be observed or performed by Tenant and fails to cure such default within fifteen (15) days after written notice thereof to Tenant; (iii) the interest of Tenant in this Lease is levied upon under execution or other legal process; (iv) a petition is filed by or against Tenant to declare Tenant bankrupt or seeking a plan of reorganization or arrangement under any chapter of the Bankruptcy Act or any amendment, replacement or substitution therefor, or to delay payment of, reduce or modify Tenant’s debts, or any petition is filed or other action taken to reorganize or modify Tenant’s capital structure or upon the dissolution of Tenant; or (v) Tenant is declared insolvent by law or any assignment of Tenant’s property is made for the benefit of creditors, or a receiver is appointed for Tenant or Tenant’s property. B. In the event of any breach of this Lease by Tenant, Landlord shall have the following at its option, without further notice or demand to Tenant, may, in addition to all other rights and remediesremedies provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in at law or in equity: (ai) Landlord may terminate this Lease by giving to Tenant notice and Tenant’s right of possession of the Landlord's intention to do so, in which event the Term shall endPremises, and recover all rightdamages to which Landlord is entitled under law, title specifically including, without limitation, rent for the balance of the Term, all Landlord’s expenses of reletting (including repairs, alterations, improvements, additions, decorations, legal fees and interest of Tenant hereunder shall expire, on the date stated in such notice;brokerage commissions); or (bii) Landlord may terminate the Tenant’s right of Tenant to possession of the Premises without terminating this Lease, in which event Landlord shall make reasonable efforts to relet the Premises, or any part thereof, for the account of Tenant, for such rent and term and upon such terms and conditions as are acceptable to Landlord. For purposes of such reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent reasonably necessary. If Landlord fails or refuses to relet the Premises or if the Premises are relet and a sufficient sum not be realized therefrom after payment of all Landlord’s reasonable expenses of reletting (including reasonable repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions) to satisfy the payment when due of rent reserved under this Lease by giving notice for each such monthly period or if the Premises have been relet, Tenant shall pay any such deficiency monthly. Tenant agrees that Landlord may file suit to Tenant recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not then reduced to judgment in favor of Landlord. In the event Landlord elects, pursuant to this Section 20B, to terminate Tenant's ’s right of possession only, without terminating this Lease, Landlord may, at Landlord’s option, enter into the Premises, remove Tenant’s signs and other evidences of tenancy, and take and hold possession thereof, as provided in Section 21 hereof, provided, such action shall end on not terminate this Lease or release Tenant, in whole or in part, from Tenant’s obligation to pay the date stated rent reserved hereunder for the Term or from any other obligation of Tenant under this Lease. Any and all property which may be removed from the Premises by Landlord pursuant to the authority of the Lease or of law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the risk, cost and expense of Tenant, and Landlord shall in no event be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses reasonably incurred in such notice, whereupon removal and all reasonable storage charges against such property so long as the right same shall be in Landlord’s possession or under Landlord’s control. Any such property of Tenant to possession not retaken from storage by Tenant within thirty (30) days after the end of the Premises or any part thereof Term, however terminated, shall cease on the date stated in such notice but Tenant's obligations be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as a xxxx of sale without further payment or credit by Landlord to Tenant. Tenant hereby grants to Landlord a first lien upon the interest of Tenant under this Lease to secure the payment of monies due under this Lease which lien may be enforced in equity. Any default by Tenant of any term or condition hereof other than the payment of sums due hereunder may be restrained or enforced by injunction. C. In the event of any legal action for breach of this Lease, the non-prevailing party shall continue pay upon demand, all costs and expenses, including reasonable attorney’s fees, incurred by the prevailing party in full force and effect; andconnection with such legal action. (c) Landlord may enforce D. If the provisions term of any lease, other than this Lease, made by Tenant for any Premises in the Building shall be terminated or terminable after the making of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance because of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from default by Tenant under any of the provisions of such other lease, such fact shall empower Landlord, at Landlord’s sole opinion, to terminate this LeaseLease by notice to Tenant.

Appears in 2 contracts

Samples: Office Lease (AveXis, Inc.), Office Lease (AveXis, Inc.)

Landlord’s Remedies. (i) If a Default occursTenant shall default in the payment when due of any installment of Rent or in the payment when due of any additional rent beyond the expiration of any applicable grace or cure period, Landlord shall have the following rights and remedies, which or if any execution or attachment shall be distinctissued against Tenant or any of Tenant's property whereupon the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, separate or if Tenant shall fail to move into or take possession of the Premises within thirty (30) days after the Commencement Date, or if this Lease and cumulative, the Term shall expire and which may be exercised by Landlord concurrently or consecutively come to an end as provided in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityArticle 17: (a) Landlord and its agents and servants may terminate immediately, or at any time after such default or after the date upon which this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event and the Term shall expire and come to an end, re-enter the Premises or any part thereof, either by summary proceedings, or by any other applicable action or proceeding, (without being liable to indictment, prosecution or damages therefor), and may repossess the Premises and dispossess Tenant and any other persons from the Premises and remove any and all right, title of their property and interest of Tenant hereunder shall expire, on effects from the date stated in such notice;Premises; and (b) Landlord Landlord, at Landlord's option, may terminate relet the right of Tenant to possession whole or any part or parts of the Premises without terminating this Lease by giving notice from time to Tenant that Tenant's right time, either in the name of possession Landlord or otherwise, to such tenant or tenants, for such term or terms ending before, on or after the Expiration Date, at such rental or rentals and upon such other conditions, which may include concessions and free rent periods, as Landlord, in its sole discretion, may determine. Landlord shall end on the date stated in such notice, whereupon the right of Tenant have no obligation to possession of relet the Premises or any part thereof and shall cease on in no event be liable for refusal or failure to relet the date stated Premises or any part thereof, or, in the event of any such notice but Tenant's obligations reletting, for refusal or failure to collect any rent due upon any such reletting, and no such refusal or failure shall operate to relieve Tenant of any liability under this Lease or otherwise to affect any such liability; Landlord, at Landlord's option, may make such repairs, replacements, alterations, additions, improvements, decorations and other physical changes in and to the Premises as Landlord, in its sole discretion, considers advisable or necessary in connection with any such reletting or proposed reletting, without relieving Tenant of any liability under this Lease or otherwise affecting any such liability. (ii) Except as expressly set forth herein, Tenant hereby waives the service of any notice of intention to re-enter or to institute legal proceedings to that end which may otherwise be required to be given under any present or future law. Tenant, on its own behalf and on behalf of all persons claiming through or under Tenant, including all creditors, does further hereby waive any and all rights which Tenant and all such persons might otherwise have under any present or future law to redeem the Premises, or to re-enter or repossess the Premises, or to restore the operation of this Lease, after (a) Tenant shall continue in full force and effect; and have been dispossessed by a judgment or by warrant of any court or judge, or (b) any re-entry by Landlord, or (c) Landlord may enforce the provisions any expiration or termination of this Lease and may enforce and protect the rights Term, whether such dispossess, re-entry, expiration or Landlord hereunder termination shall be by a suit operation of law or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or pursuant to become due from Tenant under any of the provisions of this Lease. The words "re-enter", "re-entry" and "re-entered" as used in this Lease shall not be deemed to be restricted to their technical legal meanings. In the event of a breach or threatened breach by Tenant, or any persons claiming through or under Tenant, of any term, covenant or condition of this Lease on Tenant's part to be observed or performed, Landlord shall have the right to enjoin such breach and the right to invoke any other remedy allowed by law or in equity as if re-entry, summary proceedings and other special remedies were not provided in this Lease for such breach. The right to invoke the remedies hereinbefore set forth are cumulative and shall not preclude Landlord from invoking any other remedy allowed at law or in equity.

Appears in 2 contracts

Samples: Lease Agreement (Predictive Systems Inc), Lease Agreement (Predictive Systems Inc)

Landlord’s Remedies. If a Default occurs(a) After the expiration of any cure periods set forth in Section 12.1 above, Landlord shall provide notice thereof to Tenant and Tenant shall have (i) thirty (30) days after such notice to cure any non-payment default and if such non-payment default is of a nature that it cannot be cured within thirty (30) days such thirty (30) day period shall be extended for as long as may be reasonably necessary to cure the default provided that Tenant commences such cure within such thirty (30) day period and diligently pursues the cure thereof or (ii) ten (10) days after such notice to cure any payment defaults; provided; however, that this additional ten (10) day notice and cure period for payment defaults shall not be available to Tenant more than two (2) times in any twelve (12) month period. After the expiration of such second (2nd) notice and cure period, if applicable (hereafter an “Event of Default”), then at any time thereafter if such Event of Default is in existence then Landlord, in compliance with all Legal Requirements may pursue all legal and equitable remedies to terminate this Lease, repossess the Premises and expel Tenant and those claiming through or under it and remove their effects without being deemed guilty of any manner of trespass and without prejudice to any remedy which might otherwise be used for arrears of Base Rent or breach of covenant, and thereupon this Lease shall terminate and Landlord, in addition to all other remedies which it may have at law or equity, and not in limitation thereof, shall have the following rights and remediesremedies provided in this Article XII. No termination of this Lease and/or repossession of the Premises pursuant to this Section 12.1 shall relieve Tenant of its obligations under this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently survive such termination or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice;repossession. (b) From the termination of this Lease pursuant to Section 12.2(a) through the remainder of the Lease Term, until such time, if any, that Landlord may terminate exercises its right pursuant to Section 12.2(c), Tenant shall pay to Landlord the right Base Rent, Insurance Costs, Taxes and Operating Costs in installments as and when the same become due and payable, subject to reduction by any rent actually received by Landlord as a result of Tenant to possession a re-letting of the Premises without terminating this Lease by giving notice (net of the actual reasonable and customary costs of re-letting, including remodeling costs, brokerage commissions and attorneys’ fees). Landlord shall exercise commercially reasonable efforts to Tenant that Tenant's right of possession shall end on re-let the date stated in such noticePremises to mitigate damages, whereupon the right of Tenant to possession of and Landlord may re-let the Premises or any part thereof or parts thereof, either in the name of Landlord or otherwise for a term or terms which may, at Landlord’s option, be less than or exceed the period which would otherwise have constituted the balance of the Lease Term; provided; that, Landlord shall cease be deemed to have expended commercially reasonable efforts to re-let the Premises if it engages a commercial real estate broker with experience in the market that the Premises is located and such broker lists the Premises at the then current market rents. Any suit brought to collect the amount of deficiency for any month or other period shall not prejudice in any way the right of Landlord to collect the deficiency for any subsequent month or period by a similar proceeding. Landlord, at Landlord’s option, may make such alterations, repairs, replacements and decorations on the date stated Premises as Landlord in Landlord’s sole but reasonable judgment considers advisable and necessary for the purpose of re-letting the Premises, and the making of such notice but Tenant's obligations under this Lease alterations or decorations shall continue in full force and effect; andnot operate or be construed to release Tenant from liability hereunder. (c) Landlord may enforce At Landlord’s option exercisable by written notice given to Tenant upon or after the provisions termination of this Lease pursuant to Section 12.2(a) and may enforce and protect in lieu of an damages provided in Section 12.2(b) above, Tenant shall forthwith pay to Landlord as damages, in addition to all sums which were due prior to the rights or Landlord hereunder exercise of such option by Landlord, a suit or suits in equity or at law sum equal to the amount by which the Base Rent for the specific performance remainder of any covenant or agreement contained herein, or the Lease Term exceeds the fair rental value of the Premises determined as of the termination date for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any remainder of the provisions Lease Term, discounted to present value using a then market rate of this Leaseinterest as reasonably determined by the Landlord.

Appears in 2 contracts

Samples: Lease Agreement (Summer Infant, Inc.), Purchase and Sale Agreement (Summer Infant, Inc.)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which default shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently made in the payment of the Rent or consecutively any installment thereof or in any combination and which shall not operate to exclude or deprive Landlord the payment of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate sum required to be paid by Tenant under this Lease by giving or under the terms of any other agreement between Landlord and Tenant and such default shall continue for five (5) days after written notice to Tenant, (but Tenant notice shall have five (5) days thereafter to cure), or if default shall be made in the observance or performance of any of the Landlord's intention other covenants or conditions in this Lease which Tenant is required to observe and perform and such default shall continue for thirty (30) days (or if such default cannot be cured within 30 days, Tenant shall have such reasonable time thereafter to cure, utilizing due diligence to do so.) after written notice to Tenant, in which event or if a default involves a hazardous condition and is not cured by Tenant immediately upon written notice to Tenant, or if the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue be levied on under execution or other legal process, or if any voluntary petition in full force bankruptcy or for corporate reorganization or any similar relief shall be filed by Tenant, or if any involuntary petition in bankruptcy shall be filed against Tenant under any federal or state bankruptcy or insolvency act and effect; and (c) Tenant shall not have filed a motion to dismiss said involuntary petition within 60 days of the filing thereof, or if a receiver shall be appointed for Tenant or any of the property of Tenant by any court and Tenant shall not have filed a motion to dismiss said receiver with 60 days of his appointment, or if Tenant shall make an assignment for the benefit of creditors, or if Tenant shall admit in writing Tenant's inability to meet Tenant's debts as they mature, or if Tenant shall abandon or vacate the Premises during the Term, then Landlord may enforce treat the provisions occurrence of any one or more of the foregoing events as a breach of this Lease Lease, and may enforce thereupon at its option may, with or without notice or demand of any kind to Tenant or any other person, have any one or more of the following described remedies in addition to all other rights and protect the rights remedies provided at law or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained elsewhere herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease.

Appears in 2 contracts

Samples: Sublease (SPR Inc), Sublease (SPR Inc)

Landlord’s Remedies. If a Default occursUpon the occurrence of any Tenant Default, Landlord shall have may, in its sole discretion, pursue any one or more of the following rights and remediesremedies without any notice or demand whatsoever, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in other than any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equitynotice expressly provided herein: (a) Landlord may terminate this Lease Agreement and upon such termination Landlord may forthwith re-enter and repossess the Leased Premises by giving to Tenant entry, forcible entry, detainer suit or otherwise, without demand or notice of any kind and be entitled to recover, as damages under this Lease Agreement, a sum of money equal to the Landlordtotal of the following: (i) the reasonable and necessary cost of recovering the Fairgrounds, (ii) the reasonable and necessary cost of removing and storing Tenant's intention property, (iii) the unpaid Payments pursuant to do soArticle 4 of this Lease Agreement, in which event the Term shall endif any, and all right, title and interest of Tenant any other sums accrued hereunder shall expire, on at the date stated in such noticeof termination, (iv) any increase insurance premiums caused by the vacancy of the Fairgrounds and (v) any other sum money or damages owed by Tenant to Landlord. In the event Landlord shall elect to terminate this Lease Agreement, Landlord shall at once have all the rights of reentry upon the Fairgrounds, without becoming liable for damages or guilty of trespass; (b) Landlord may terminate the Tenant's right of Tenant to possession occupancy of all or any part of the Premises Fairgrounds and reenter and repossess the Fairgrounds by entry, forcible entry, detainer suit or otherwise, without demand or notice of any kind to Tenant and without terminating this Lease by giving notice to Tenant that Tenant's right Agreement, without acceptance of possession shall end on the date stated in such notice, whereupon the right surrender of Tenant to possession of the Premises Fairgrounds, and without becoming liable for damages or guilty of trespass. Landlord shall be obligated to attempt to relet the Fairgrounds for the account of Tenant for a period equal to or greater than the remainder of the Lease Term on terms and conditions similar to the terms and conditions of this Lease Agreement whether Landlord. Tenant shall be liable for and shall pay to Landlord an amount equal to: (i) the reasonable and necessary costs of recovering possession of the Fairgrounds, (ii) the reasonable and necessary cost removing and storing any part thereof shall cease of Tenant's property left on the date stated Fairgrounds after reentry, (iii) the reasonable and necessary cost of any increase in such notice but insurance premiums caused by the termination of possession of the Fairgrounds; and (iv) any other sum of money damages owed by Xxxxxx to Landlord at law, in equity or hereunder, all reduced by any sums received by Landlord through any reletting of the Fairgrounds; provided, however, that in no event shall Tenant be entitled to any excess of any sums obtained by reletting. Landlord may file suit to recover any sums falling due under the terms of this Article; (c) Landlord may enter upon the Fairgrounds and do whatever Tenant obligated to do under the terms of this Lease Agreement; and Xxxxxx agrees to reimburse Landlord on demand for any reasonable expenses which Landlord may incur in effecting compliance with Tenant's obligations under this Lease Agreement, and Xxxxxx further agrees that Landlord shall continue in full force and effectnot be liable for any damages resulting to Tenant from such action. No action taken by Landlord under this Article shall relieve Tenant from any of its obligations under this Lease Agreement or from any consequences or liabilities arising from the failure to perform such obligations; andand/or (cd) Landlord may enforce the provisions of this Lease exercise any and may enforce and protect the rights or all other remedies available to Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Leasein equity.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Landlord’s Remedies. If a Default occursIn the event of any such default or breach by Tenant, Landlord shall have may at any time thereafter, with or without further notice or demand and without limiting Landlord in the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord exercise of any other right or remedy which Landlord may have in law by reason of such default or equitybreach: (a) Perform, on behalf and at the expense of Tenant, any obligation of Tenant under this Lease which Tenant has failed to perform and of which Landlord may shall have given at least three (3) days' notice (except in the case of emergency, in which event no such notice shall be required), the cost of which performance by Landlord, together with interest therein at the interest rate (as specified in Section 20.14 hereof) from the date of such expenditure, shall be deemed additional rent and shall be payable by Tenant to Landlord upon demand. (b) Without further notice, re-enter and repossess the Leased Premises, by summary proceedings or otherwise, and remove Tenant and all other persons and property from the Leased Premises, and store such property in a public warehouse or elsewhere at the cost of and for the account of Tenant without resort to legal process and without Landlord being deemed guilty of trespass or conversion or becoming liable for any loss or damage occasioned thereby. In connection herewith, Landlord shall have, in addition to any other remedies, any and all self-help remedies, including but not limited to a forcible entry into the Leased Premises or a "lock-out" accomplished by changing the locks on the Leased Premises. No re-entry of the Leased Premises shall be construed as an election by Landlord to accept Tenant=s surrender of the Leased Premises or to terminate this Lease unless a written notice of such intention is given by Landlord to Tenant. (c) Declare the entire balance of the Rent, and all other amounts to be paid by Tenant hereunder for the remainder of the Term to be due and payable immediately, and collect such balance in any manner not inconsistent with applicable law. The amount of additional rent and Percentage Rent payable with respect to each Lease Year remaining in the Term after such default (including the Lease Year during which such default occurred) shall be conclusively presumed to be equal to the average additional rent and Percentage Rent payable with respect to each completed Lease Year preceding such default; provided, however, that if such default occurs before the expiration of two (2) Lease Years, then the amount of additional rent and Percentage Rent payable with respect to each Lease Year remaining in the Term after such default (including the Lease Year or partial Lease Year during which such default occurred) shall be conclusively presumed to be equal to twelve (12) times the average monthly additional rent and Percentage Rent payable prior to such default. (d) Terminate this Lease by giving to Tenant written notice of such termination to Tenant, which termination shall be effective as of the date of such notice or any later date therefor specified by Landlord in such notice (provided, that without limiting the generality of the foregoing provisions, Landlord shall not be deemed to have accepted any abandonment or surrender by Tenant of any or all of the Leased Premises or Tenant's leasehold estate under this Lease unless Landlord has so advised Tenant expressly and in writing, regardless of whether Landlord has re-entered or relet any or all of the Leased Premises or exercised any or all of Landlord's intention other rights under this Lease or applicable law). (e) In Landlord's own name or otherwise, relet any or all of the Leased Premises with or without any additional premises, for any or all of the remainder of the Term (or, if this Lease has then been terminated, for any or all of the period which would, but for such termination, have constituted the remainder of the Term) or for a period exceeding such remainder, on such terms and subject to do sosuch conditions as are acceptable to Landlord (including, by way of example rather than of limitation, the alteration of any or all of the Leased Premises in any manner which, in Landlord's judgment, is necessary or desirable in connection with such reletting, and the allowance of one or more concessions or "free-rent" or reduced-rent periods), and collect and receive the rents thereof. Tenant shall pay to Landlord, at the times and in the manner specified by the provisions of this Lease (unless Landlord has elected to accelerate Rent as provided above in subparagraph(d), in which event Tenant shall be obligated to pay such accelerated amount as provided in such subparagraph), (i) the Term shall endinstallments of the Minimum Rent, additional rent and Percentage Rent accruing during such remainder (or, if this Lease has then been terminated, damages equalling the respective amounts of such installments (determined as provided in subparagraph 14.2(c) which would have accrued during such remainder, had this Lease not been terminated)), plus (ii) the cost to Landlord of any such reletting (including, by way of example rather of limitation, any attorneys's fees, leasing or brokerage commissions, repair or improvement expenses and the expense of any other actions taken in connection with such reletting) less any monies received by Landlord with respect to such remainder from such reletting of any or all rightof the Leased Premises. (f) Recover from Tenant, title an amount equal to (i) all items of accrued and unpaid Rent, including, without limitation, the then unamortized amount of the Construction Allowance; (ii) all reasonable expenses (including, by way of example rather than of limitation, all repossession costs, management expenses, operating expenses, legal expenses and attorney's fees) incurred by Landlord in curing or seeking to cure any default or in exercising or seeking to exercise any of Landlord's rights and remedies under the provisions of this Lease or at law or in equity on account of any default, plus (iii) interest on all such expenses, at the rate provided in Section 20.14, all of which expenses and interest of shall be payable by Tenant hereunder shall expire, immediately on the date stated in such notice;demand therefor by Landlord. (bg) Landlord may terminate the right of Tenant to possession of the Premises without Without terminating this Lease by giving notice to Tenant that Lease, maintain Tenant's right of possession shall end on the date stated to possession, in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under which case this Lease shall continue in full force effect whether or not Tenant shall have vacated the Leased Premises. In such event, Landlord shall be entitled to enforce all of Landlord's rights and effect; andremedies under this Lease, including the right to recover Rent as it becomes due hereunder. (ch) Any damage or loss of Rent sustained by Landlord may enforce be recovered by Landlord, at Landlord's option, at the provisions time of the reletting or termination, in a single action or in separate actions, from time to time, as said loss of Rent or damages shall accrue, or in a single proceeding deferred by Landlord or with jurisdiction reserved by the court, until the expiration of the Term of this Lease and may enforce and protect (in which event Tenant hereby agrees that, at Landlord's option, the rights or Landlord hereunder by a suit or suits in equity or at law for cause of action shall not be deemed to have accrued until the specific performance date of any covenant or agreement expiration of said Term). (i) Nothing contained herein, or for herein shall prevent the enforcement of any claim Landlord may have against Tenant for anticipatory breach of this Lease. In the event of any anticipatory breach by Tenant of any of the covenants or provisions hereof or in the event of Tenant's default, Landlord shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other appropriate legal remedies were not provided for herein. Mention in this Lease of any particular remedy shall not preclude Landlord from any other remedy under this Lease or, at law or equitable remedyin equity. TENANT HEREBY EXPRESSLY WAIVES FOR ITSELF AND ALL PERSONS CLAIMING BY OR THROUGH TENANT, including injunctive relief and ANY AND ALL RIGHTS TO REDEEM, REINSTATE OR RESTORE, OR OBTAIN RELIEF FROM FORFEITURE OF THIS LEASE GRANTED BY OR UNDER ANY PRESENT OR FUTURE LAW IN THE EVENT OF TENANT BEING EVICTED OR DISPOSSESSED FOR ANY CAUSE, OR IN THE EVENT OF LANDLORD OBTAINING POSSESSION OF THE LEASED PREMISES BY REASON OF THE VIOLATION BY TENANT OF ANY OF THE COVENANTS AND CONDITIONS OF THIS LEASE. (j) In case suit shall be brought for recovery of all moneys the Leased Premises, for the recovery of Rent or any other amount due or to become due from Tenant under any of the provisions of this Lease, or because of the breach of any other covenant herein contained on the part of Tenant to be kept and performed, and a breach shall be established, Tenant shall pay to Landlord all costs and expenses incurred therefor, including Landlord's attorney's reasonable fees and expenses. (k) Nothing herein contained shall limit or prejudice Landlord's right to prove and obtain as damages, by reason of any default by Tenant, an amount equal to the maximum allowed by statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved. No expiration or termination of this Lease, abandonment, re-entry by Landlord or vacancy, shall relieve Tenant of any of its liabilities and obligations under this Lease (whether or not any or all of the Leased Premises are relet), and Tenant shall remain liable to Landlord for all damages resulting from any default by Tenant, including any damage resulting from the breach by Tenant of any of its obligations to pay Minimum Rent, Percentage Rent, additional rent and any other sums which Tenant is obligated to pay hereunder. (l) The rights and remedies of Landlord under this Lease shall be deemed to be cumulative, and no one of such rights or remedies shall be exclusive at law or in equity of the other rights and remedies of Landlord on account of a default by Tenant, and the exercise of any one such right or remedy by Landlord shall not impair Landlord's standing, right or power to exercise any other right or remedy.

Appears in 2 contracts

Samples: Lease Agreement (Play Co Toys & Entertainment Corp), Lease Agreement (Play Co Toys & Entertainment Corp)

Landlord’s Remedies. If a Upon the occurrence of any Event of Default occursand at any time thereafter, Landlord shall have may, at its election, exercise any one or more of the following described remedies, in addition to all other rights and remediesremedies provided at law, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently in equity or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityelsewhere herein: (a) A. Landlord may terminate this Lease by giving to Tenant written notice of the Landlord's intention ’s election to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, end on the date stated in such notice; (b) B. Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease Lease, by giving written notice to Tenant that Tenant's ’s right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; andnotice; (c) C. Landlord may enforce the provisions of this Lease and may enforce and protect the rights or of Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or and for the enforcement of any other appropriate legal or equitable remedy, including without limitation (i) injunctive relief and relief, (ii) recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease, and (iii) any other damages incurred by Landlord by reason of Tenant’s default under this Lease; and D. Landlord may pursue all legal means to reenter and take possession of the Premises or any part of the Premises, repossess the same, expel Tenant and those claiming through or under Tenant, and remove the effects of both or either, using such force for such purposes as may be necessary, without being liable for prosecution, without being deemed guilty of any manner of trespass, and without prejudice to any remedies for arrears of Rent or other amounts payable under this Lease or as a result of any other breach of this Lease.

Appears in 2 contracts

Samples: Industrial Building Lease (Power Solutions International, Inc.), Industrial Building Lease (Power Solutions International, Inc.)

Landlord’s Remedies. A. If Tenant: (1) Defaults in the payment of any single installment of rent or in the payment of any other sum required to be paid under this Lease or under the terms of any other agreement between Tenant and Landlord and such default is not cured within five days of written notice; or (2) Defaults in the performance of any other covenant or agreement hereof, and such default is not cured by Tenant within 10 days after written notice to Tenant from Landlord (unless the default involves a Default occurs, hazardous condition which shall be cured forthwith); Landlord may treat such events as a breach of this Lease and Landlord shall have any one or more of the following described remedies in addition to all other rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in remedies provided at law or in equity: (a) Landlord may terminate this Lease by giving to Tenant notice of and the Landlord's intention to do soTerm hereof, in which event Landlord may forthwith repossess the Property in accordance with Paragraph 22(A) hereof and Tenant agrees to pay to Landlord damages in an amount equal to the amount of rent provided in this Lease to be paid by Tenant for the balance of the Term shall endhereof as set forth in this Lease, less the fair rental value of the Property for said period, and, in addition, any other sum of money and all right, title and interest of damages owed by Tenant hereunder shall expire, on the date stated in such noticeto Landlord; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on and may repossess the date stated Property in accordance with Paragraph 22(A) hereof without further demand or notice of any kind to Tenant and without such notice, whereupon the right of entry and possession terminating this Lease or releasing Tenant to possession of the Premises in whole or any in part thereof shall cease on the date stated in such notice but from Tenant's obligations obligation to pay rent hereunder for the full Term hereof. Upon and after such entry into possession without termination of this Lease, Landlord may, but need not, relet the Property as Tenant's agent and may, but need not, make repairs, alterations and additions in or to the Property and redecorate, all under this the same terms and conditions as set forth in Paragraph 19 hereof. Tenant shall on demand pay to Landlord damages and all of Landlord's expenses of reletting as set forth and described in Paragraph 19 hereof. If the consideration collected by Landlord from any such reletting for Tenant's account is not sufficient to pay the amount provided in the Lease to be paid monthly by Tenant together with all such expenses, Tenant shall continue in full force and effect; and (c) pay to Landlord, as damages, the amount of each monthly deficiency. Tenant agrees that Landlord may enforce from time to time file suit to recover any such sums falling due under the provisions terms of this Lease Paragraph and may enforce and protect the rights that no suit or recovery of any portion due Landlord hereunder by shall be a suit or suits defense to any subsequent action brought for any amount not there- to fore reduced to judgment in equity or at law for favor of Landlord except that Landlord shall not be permitted more than one recovery in the specific performance of any covenant or agreement contained hereinaggregate amount so due. B. Tenant shall pay Landlord all Landlord's costs, or for expenses and attorney's fees in and about the enforcement of any other appropriate legal or equitable remedy, including injunctive relief the covenants and recovery of all moneys due or to become due from Tenant under any of the provisions agreements of this Lease.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant under this Lease, Landlord shall have the following Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without additional notice or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remediesremedies provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in otherwise at law or in equity: : (a) Landlord may terminate this Lease by giving to Tenant notice and Tenant's right of possession of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; Premises; or (b) Landlord may terminate the Tenant's right of Tenant to possession of the Premises without terminating this Lease by giving notice Lease; provided, however, that Landlord may, whether Landlord elects to Tenant that Tenant's right of possession shall end on proceed under Subsections (a) or (b) above, relet the date stated in such noticePremises, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on for the date stated account of Tenant, for such rent and term and upon such terms and conditions as are acceptable to Landlord. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by Landlord, in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce its sole discretion. In the provisions event of the termination of this Lease by Landlord pursuant to (a) above, Landlord shall be entitled to recover from Tenant (i) all damages and may enforce and protect the rights or other sums that Landlord hereunder by a suit or suits in equity is entitled to recover under any provision of this Lease or at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and Additional Rent accrued and unpaid for the specific performance of any covenant or agreement contained hereinperiod up to and including such termination date; (ii) all other additional sums payable by Tenant, or for the enforcement which Tenant is liable, or in respect of any other appropriate legal or equitable remedywhich Tenant has agreed to indemnify Landlord, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease, that may be then owing and unpaid; (iii) all reasonable and customary costs and expenses (including, without limitation, court costs and attorneys' reasonable fees) incurred by Landlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and the Premises are relet and a sufficient sum is not realized therefrom, then to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period (after payment of all Landlord's reasonable expenses of reletting), Tenant shall, in Landlord's sole judgment, either (i) pay any such deficiency monthly or (ii) pay such deficiency on an accelerated basis, which accelerated deficiency shall be discounted at a rate equal to the Federal Reserve discount rate in effect on the date of Landlord's demand. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and Landlord fails to relet the Premises, then Tenant shall pay to Landlord quarterly the accelerated amount of Base Rent and Additional Rent due under the Lease for the balance of the Term, discounted to present value at a rate equal to the Federal Reserve discount rate in effect on the date of Landlord's demand. Provided, however, if Landlord later relets the Premises, Landlord shall refund to Tenant a prorated amount of Tenant's payment reflecting the period of the new lease and rents received under the new lease. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b), then Landlord shall at any time have the further right and remedy to rescind such election and pursue its rights and remedies under Subsection (a). Notwithstanding the above, Tenant shall receive full credit against any amount owed Landlord under this paragraph for amounts collected under any reletting of the Premises.

Appears in 2 contracts

Samples: Industrial Building Lease (Griffin Capital Essential Asset REIT II, Inc.), Industrial Building Lease (Griffin Capital Essential Asset REIT II, Inc.)

Landlord’s Remedies. If a Default occursUpon the occurrence of any event of default, Landlord shall have the option to pursue any one or more of the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently remedies without any prior notice or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equitydemand: (a) Landlord may terminate this Lease by giving Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant notice of the Landlord's intention fails to do so, in Landlord may, without prejudice to any other remedy which event it may have, enter upon and take possession of the Term shall endLeased Premises, and expel or remove Tenant and any other person who may be occupying all right, title and interest or any part of Tenant hereunder the Leased Premises. Landlord shall expire, on the date stated in not be liable for prosecution or any claim for damages as a result of such notice;actions. (b) Without terminating this Lease, Landlord may terminate enter upon the right of Tenant to possession of the Leased Premises (without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises being liable for prosecution or any part thereof shall cease claim for damages therefor) and do whatever Tenant is obligated to do under the terms of this Lease. Xxxxxx agrees to reimburse Landlord on the date stated demand for any reasonable losses, costs and expenses which Landlord may incur in such notice but effecting compliance with Tenant's obligations under this Lease Lease, which costs and expenses shall continue in full force and effect; andconstitute Additional Rent. Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from effecting compliance with Tenant's obligations under this subsection, whether caused by the negligence of Landlord or otherwise. (c) Landlord may enforce pursue such other and further remedies as are allowed for under the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions terms of this Lease. (d) Landlord may pursue any remedy provided at law or in equity.

Appears in 2 contracts

Samples: Lease Agreement, Lease and Easement Agreement

Landlord’s Remedies. If a an Event of Default occurs, at any time after the occurrence, with or without additional notice or demand and without limiting Landlord's rights or remedies as a result of the Event of Default, Landlord may do the following: (i) Upon any termination of this Lease, Tenant shall have quit and peaceably surrender the following rights and remedies, which shall be distinct, separate and cumulativePremises, and all portions thereof, to Landlord, and Landlord, upon or at any time after any such expiration or termination, may, without further notice, enter upon and reenter the Premises, and all portions thereof, and possess and repossess itself thereof, by summary proceeding, ejectment or otherwise, and may dispossess Tenant and remove Tenant and all other persons and property from the Premises, and all portions thereof, and may have, hold and enjoy the Premises and the right to receive all rental and other income of and from the same. (ii) At any time, or from time to time after any such termination, Landlord may relet the Premises, or any portion thereof, in the name of Landlord or otherwise, for such term or terms (which may be exercised by greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions (which may include market concessions or free rent) as Landlord, in its sole discretion, may determine and may collect and receive the rents therefor. Landlord concurrently shall in no way be responsible or consecutively in liable for any combination failure to relet the Premises, or any part thereof, or for any failure to collect any rent due upon any such reletting. (iii) No such termination of this Lease or retaking of possession shall relieve Tenant of its liabilities and which obligations under this Lease (as if this Lease had not been so terminated), and such liabilities and obligations shall not operate to exclude or deprive Landlord survive any such termination. In the event of any such termination, whether or not the Premises, or any portion thereof, shall have been relet, Tenant shall pay to Landlord a sum equal to the Base Rent and any other right charges required to be paid by Tenant, up to the time of such termination of this Lease or remedy which retaking of possession by Landlord, less net proceeds as described in (b) below, if any, and thereafter Tenant, until the end of what would have been the term of this Lease in the absence of such termination, shall be liable to Landlord may have in law or equityfor, and shall pay to Landlord, as and for agreed current damages for Tenant's default: (a) Landlord may terminate The equivalent of the amount of the Base Rent and other charges which would be payable under this Lease by giving to Tenant notice of the Landlord's intention to do soif this Lease were still in effect, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice;less (b) The net proceeds of any reletting effected pursuant to the provisions of Section (ii) hereof after deducting all of Landlord's expenses in connection with such reletting, including, without limitation, all repossession costs, reasonable and customary brokerage commissions, legal expenses, reasonable attorney's fees, reasonable alteration costs, and reasonable expenses of preparation of the Premises, or any portion thereof, for such reletting. Tenant shall pay such current damages in the amount determined in accordance with the terms of Section (iii), as set forth in a written statement thereof from Landlord may terminate to Tenant (hereinafter called the "Deficiency"), to Landlord in monthly installments on the days on which the Base Rent would have been payable under this Lease if this Lease were still in effect, and Landlord shall be entitled to recover from Tenant each monthly installment of the Deficiency as the same shall arise. (iv) At any time after any such termination or retaining of possession, in addition to any monthly Deficiencies as set forth in Section (iii) accruing through the date A. to its most credit-worthy customers, or the successors in interest to Norwest Bank Minnesota N. A.) per annum shall be employed. If the Premises, or any portion thereof, be relet by Landlord for the unexpired term of this Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of rent reserved upon such reletting shall, prima facie, be the fair and reasonable fair market rent for the part or the whole of the Premises so relet during the term of the reletting. Nothing herein contained or contained in Section (iii) shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute of rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. (v) No failure by Landlord or by Tenant to possession insist upon the performance of any of the Premises without terminating terms of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance by giving notice Landlord of full or partial rent from Tenant or any third party during the continuance of any such breach, shall constitute a waiver of any such breach or of any of the terms of this Lease. Landlord agrees to Tenant that mitigate damages arising out of Tenant's right default to the extent commercially reasonable. No waiver of possession any breach shall end on the date stated in such noticeaffect or alter this Lease, whereupon the right of Tenant to possession but each of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under terms of this Lease shall continue in full force and effect; andeffect with respect to any other then existing or subsequent breach of this Lease. No waiver of any default of Tenant herein shall be implied from any omission by Landlord to take any action on account of such default, if such default persists or is repeated and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. (cvi) In the event of any breach or threatened breach by Tenant of any of the terms contained in this Lease, Landlord may enforce shall be entitled to seek to enjoin such breach or threatened breach and shall have the provisions of this Lease and may enforce and protect the rights right to invoke any right or Landlord hereunder by a suit remedy allowed at law or suits in equity or by statute or otherwise as though entry, reentry, summary proceedings and other remedies were not provided for in this Lease. Each remedy or right of Landlord provided for in this Lease, or now or hereafter existing at law for or in equity or by statute or otherwise, and the specific performance exercise or the beginning of the exercise by Landlord of any covenant one or agreement contained herein, more of such rights or for remedies shall not preclude the enforcement simultaneous or later exercise by Landlord of any or all other appropriate legal rights or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Leaseremedies.

Appears in 2 contracts

Samples: Lease Agreement (Telex Communications International LTD), Lease Agreement (Telex Communications Inc)

Landlord’s Remedies. If a Default occursUpon occurrence of any default by Tenant under this Lease and (i) if the event of default described in Section 12.1(a) is not cured within five (5) days of when such Rent or other charge is due; or (ii) the events described in Sections 12.1 (b), (d), (f) and (g) are not cured within thirty (30) days after written notice from Landlord of such default (there being no notice and cure period for events of defaults described in Sections 12.1 (c), (e) and (h) except as otherwise set forth herein), the Landlord shall have the option to do and perform any one or more of the following rights and remedies, which shall be distinct, separate and cumulativein addition to, and which may be exercised by Landlord concurrently or consecutively not in any combination and which shall not operate to exclude or deprive Landlord of limitation of, any other remedy or right or remedy which Landlord may have in permitted it by law or equityin equity by this Lease: (a) Landlord may terminate 12.2.1 Continue this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall endfull force and effect, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect as long as Landlord does not terminate this Lease, and Landlord shall have the right to collect Rent, additional rent and other charges when due. 12.2.2 Terminate this Lease, in which event Tenant shall surrender the Premises to Landlord immediately upon expiration of ten (10) days from the date of the service upon Tenant of written notice to that effect; and , without any further notice or demand. In the event Landlord shall become entitled to the possession of the Premises by any termination of this Lease herein provided, and Tenant shall refuse to surrender or deliver up possession of the Premises after the service of such notice, then Landlord may, without further notice or demand, enter into and upon the Premises, or any part thereof, and take possession of and repossess the Premises as Landlord’s former estate, and expel, remove, and put out of possession Tenant and its effects, using such help, assistance and force in so doing as may be needful and proper, without being liable for prosecution or damages therefor or guilty of trespass, and without prejudice to any remedy allowed by law available in such cases. Tenant shall indemnify Landlord for all loss, cost, expense, and damage which Landlord may suffer by reason of the termination, whether through inability to relet the Premises, or through decrease in rent or otherwise. In the event of such termination, Landlord may, at its option, recover forthwith as liquidated damages, and not as a forfeiture or penalty, a sum of money equal to the total of (a) the cost of recovering the Premises, including, without limitation, attorneys’ fees and cost of suit, (b) the unpaid Rent and other sums accrued hereunder at the date of termination, plus late charges and interest thereon at the rate specified in Section 2.2 hereof, (c) the present value (discounted at the rate of 8% per annum) of the balance of the Rent for the remainder of the Lease Term, including any amounts treated as additional rent hereunder, less the present value (discounted at the same rate) of the fair market rental value of the Premises for said period, taking into account the cost, time, expenses and other factors necessary to obtain a replacement tenant or tenants, including expenses relating to the recovery of the Premises, preparation for reletting and reletting itself, (d) the cost of reletting the Premises including, without limitation, the cost of restoring the Premises to the condition necessary to rent the Premises at the prevailing market rental rate, normal wear and tear excepted, (e) any increase in insurance premiums caused by the vacancy of the Premises, (f) the amount of any unamortized improvements to the Premises paid for by Landlord, (g) the amount of any unamortized brokerage commission or other costs paid by Landlord in connection with the leasing of the Premises, and (h) any other sum of money and damages owed by Tenant to Landlord. 12.2.3 Terminate Tenant’s right of occupancy or possession, retake possession of the Premises by entry, forcible entry or detainer suit or otherwise, without demand or notice of any kind to Tenant and without terminating this Lease, without acceptance of surrender of possession of the Premises, and without becoming liable for damages or guilty of trespass, in which event Landlord may, but shall be under no obligation to rent the Premises, or any part thereof, for such term or terms and for such rent and upon such conditions as Landlord may, in its sole discretion, deem advisable, making such changes, improvements, alterations, and repairs to the Premises as may enforce be required. All rent received by Landlord from any reletting shall be applied first to the provisions payment of any indebtedness other than rent due hereunder from Tenant; second, to the payment of any costs and expenses of the reletting, including but not limited to brokerage fees, attorneys’ fees and costs of such changes, improvements, alterations, and repairs; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent or damage as they may become due and payable hereunder. If the rent received from the reletting during the Lease Term is at any time insufficient to cover the costs, expenses, and payments enumerated above, Tenant shall pay any deficiency to Landlord, as often as it shall arise, on demand. Tenant shall be liable for and shall pay to Landlord all Rent payable by Tenant under this Lease (plus interest at the past due rate provided in Section 2.2 of this Lease if in arrears) plus an amount equal to (a) the cost of recovering possession of the Premises, (b) the cost of removing and may enforce storing any of Tenant’s or any other occupant’s property left on the Premises or the Building after reentry, (c) the cost of decorations, repairs, changes, alterations and protect additions to the rights Premises and the Building, (d) the cost of any attempted reletting or reletting and the collection of the rent accruing from such reletting, (e) the cost of any brokerage fees or commissions payable by Landlord hereunder in connection with any reletting or attempted reletting, (f) any other costs incurred by a suit Landlord in connection with any such reletting or suits attempted reletting, (g) the cost of any increase in insurance premiums caused by the termination of possession of the Premises, (h) the amount of any unamortized improvements to the Premises paid for by Landlord, (i) the amount of any unamortized brokerage commissions or other costs paid by Landlord in connection with the leasing of the Premises and (j) any other sum of money or damages owed by Tenant to Landlord at law, in equity or at law for hereunder, all reduced by any sums received by Landlord through any reletting of the specific performance Premises; provided, however, that in no event shall Tenant be entitled to any excess of any covenant sums obtained by reletting over and above Rent provided in this Lease to be paid by Tenant to Landlord. Landlord may file suit to recover any sums falling due under the terms of this Section 12.2.3 from time to time, and no delivery to or agreement contained herein, or for the enforcement recovery by Landlord of any other appropriate legal or equitable remedyportion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord. No reletting shall be construed as an election on the part of Landlord to terminate this Lease unless a written notice of such intention is given to Tenant by Landlord. Notwithstanding any such reletting without termination, including injunctive relief and recovery of all moneys due or Landlord may at any time thereafter elect to become due from Tenant terminate this Lease for such previous default and/or exercise its rights under any of the provisions Section 12.2.2 of this Lease. 12.2.4 Enter upon the Premises and do whatever Tenant is obligated to do under the terms of this Lease; and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in effecting compliance with Tenant’s obligations under this Lease plus fifteen percent (15 %) of such cost to cover overhead plus interest at the past due rate provided in this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action. No action taken by Landlord under this Section 12.2.4 shall relieve Tenant from any of its obligations under this Lease or from any consequences or liabilities arising from the failure to perform such obligations.

Appears in 2 contracts

Samples: Lease Agreement (Roberts Realty Investors Inc), Lease Agreement (Roberts Realty Investors Inc)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant, and without limiting Landlord's right to indemnification as provided in Article 8.2, Landlord shall have the following remedies, in addition to all other rights and remediesremedies provided by Law or otherwise provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have resort cumulatively, or in the alternative: A. Landlord may, at Landlord's election, keep this Lease in effect and enforce, by an action at law or in equity:, all of its rights and remedies under this Lease including, without limitation, (i) the right to recover the rent and other sums as they become due by appropriate legal action, (ii) the right to make payments required by Tenant, or perform Tenant's obligations and be reimbursed by Tenant for the cost thereof with interest at the then maximum rate of interest not prohibited by Law from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant, and (iii) the remedies of injunctive relief and specific performance to prevent Tenant from violating the terms of this Lease and/or to compel Tenant to perform its obligations under this Lease, as the case may be. (a) B. Landlord may may, at Landlord's election, terminate this Lease by giving to Tenant written notice of the Landlord's intention to do sotermination, in which event the Term this Lease shall end, and all right, title and interest of Tenant hereunder shall expire, terminate on the date stated set forth for termination in such notice. Any termination under this Subarticle shall not relieve Tenant from its obligation to pay to Landlord all Base Monthly Rent and Additional Rent then or thereafter due, or any other sums due or thereafter accruing to Landlord, or from any claim against Tenant for damages previously accrued or then or thereafter accruing. In no event shall any one or more of the following actions by Landlord, in the absence of a written election by Landlord to terminate the Lease, constitute a termination of the Lease: (1) Appointment of a receiver or keeper in order to protect Landlord's interest hereunder; (b2) Consent to any subletting of the Leased Premises or assignment of this Lease by Tenant, whether pursuant to the provisions hereof or otherwise; or (3) Any other action by Landlord or Landlord's agents intended to mitigate the adverse effects of any breach of this Lease by Tenant, including, without limitation, any action taken to maintain and preserve the Leased Premises or any action taken to relet the Leased Premises, or any portion thereof, for the account of Tenant and in the name of Tenant. C. In the event Tenant breaches this Lease and abandons the Leased Premises, Landlord may terminate the right this Lease, but this Lease shall not terminate unless Landlord gives Tenant written notice of Tenant to possession of the Premises without terminating termination. If Landlord does not terminate this Lease by giving written notice of termination, Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due under this Lease as provided in California Civil Code Section 1951.4, as in effect on the Effective Date of this Lease. D. In the event Landlord terminates this Lease, Landlord shall be entitled, at Landlord's election, to damages in an amount as set forth in California Civil Code Section 1951.2, as in effect on the Effective Date of this Lease. For purposes of computing damages pursuant to Section 1951.2, an interest rate equal to the maximum rate of interest then not prohibited by Law shall be used where permitted. Such damages shall include, without limitation: (1) The worth at the time of award of the amount by which the unpaid rent for the balance of the terminate after the time of award exceeds the amount of such rental loss that Tenant that proves could be reasonably avoided, 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; and (2) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant failure to possession of the Premises or any part thereof shall cease on the date stated in such notice but perform Tenant's obligations under this Lease shall continue Lease, or which in full force and effectthe ordinary course of things would be likely to result therefrom, including without limitation, the following: (i) reasonable expenses for cleaning, repairing or restoring the Leased Premises; and (cii) Landlord may enforce reasonable expenses for altering, remodeling or otherwise improving the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law Leased Premises for the specific performance purpose of any covenant reletting, including removal of existing leasehold improvements and/or installation of additional leasehold improvements (regardless of how the same is funded, including reduction of rent, a direct payment or agreement contained hereinallowance to a new tenant, or otherwise); (iii) reasonable broker's fees, advertising costs and other expenses of reletting the Leased Premises; (iv) reasonable costs of carrying and maintaining the Leased Premises which costs would have been billed to Tenant as Additional Rent had Tenant not defaulted and which include but are not limited to taxes, insurance premiums, utility charges, landscape maintenance costs, costs of maintaining electrical, plumbing and HVAC equipment and costs for providing security; (v) reasonable expenses incurred in removing, disposing of and/or storing any of Tenant's personal property, inventory or trade fixtures remaining therein; (vi) reasonable attorneys' fees, expert witness fees, court costs and other reasonable expenses incurred by Landlord but not limited to taxable costs) in retaking possession of the enforcement of Leased Premises, establishing damages hereunder, and re-leasing the Leased Premises; and (vii) any other appropriate legal expenses, costs or equitable remedy, including injunctive relief and recovery damages otherwise incurred or suffered as a result of all moneys due or to become due from Tenant under any of the provisions of this LeaseTenant's default.

Appears in 2 contracts

Samples: Industrial Space Lease (Atroad Inc), Industrial Space Lease (Atroad Inc)

Landlord’s Remedies. (i) If a Default occursTenant shall default in the payment when due of any installment of Rent or in the payment when due of any additional rent, Landlord shall have the following rights and remedies, which or if any execution or attachment shall be distinctissued against Tenant or any of Tenant's property whereupon the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, separate or if Tenant shall fail to move into or take possession of the Premises within sixty (60) days after the Commencement Date, or if this Lease and cumulative, the Term shall expire and which may be exercised by Landlord concurrently or consecutively come to an end as provided in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityArticle 17: (a) Landlord and its agents and servants may terminate immediately, or at any time after such default or after the date upon which this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event and the Term shall expire and come to an end, re-enter the Premises or any part thereof, either by summary proceedings, or by any other applicable action or proceeding, (without being liable to indictment, prosecution or damages therefor), and may repossess the Premises and dispossess Tenant and any other persons from the Premises and remove any and all right, title of their property and interest of Tenant hereunder shall expire, on effects from the date stated in such notice;Premises; and (b) Landlord Landlord, at Landlord's option, may terminate relet the right of Tenant to possession whole or any part or parts of the Premises without terminating this Lease by giving notice from time to Tenant that Tenant's right time, either in the name of possession Landlord or otherwise, to such tenant or tenants, for such term or terms ending before, on or after the Expiration Date, at such rental or rentals and upon such other conditions, which may include concessions and free rent periods, as Landlord, in its sole discretion, may determine. Landlord shall end on the date stated in such notice, whereupon the right of Tenant have no obligation to possession of relet the Premises or any part thereof and shall cease on in no event be liable for refusal or failure to relet the date stated Premises or any part thereof, or, in the event of any such notice but Tenant's obligations reletting, for refusal or failure to collect any rent due upon any such reletting, and no such refusal or failure shall operate to relieve Tenant of any liability under this Lease or otherwise to affect any such liability; Landlord, at Landlord's option, may make such repairs, replacements, alterations, additions, improvements, decorations and other physical changes in and to the Premises as Landlord, in its sole discretion, considers advisable or necessary in connection with any such reletting or proposed reletting, without relieving Tenant of any liability under this Lease or otherwise affecting any such liability. (ii) Tenant hereby waives the service of any notice of intention to re-enter or to institute legal proceedings to that end which may otherwise be required to be given under any present or future law. Tenant, on its own behalf and on behalf of all persons claiming through or under Tenant, including all creditors, does further hereby waive any and all rights which Tenant and all such persons might otherwise have under any present or future law to redeem the Premises, or to re-enter or repossess the Premises, or to restore the operation of this Lease, after (a) Tenant shall continue in full force and effect; and have been dispossessed by a judgment or by warrant of any court or judge, or (b) any re-entry by Landlord, or (c) Landlord may enforce the provisions any expiration or termination of this Lease and may enforce and protect the rights Term, whether such dispossess, re-entry, expiration or Landlord hereunder termination shall be by a suit operation of law or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or pursuant to become due from Tenant under any of the provisions of this Lease. The words "re-enter", "re-entry" and "re-entered" as used in this Lease shall not be deemed to be restricted to their technical legal meanings. In the event of a breach or threatened breach by Tenant, or any persons claiming through or under Tenant, of any term, covenant or condition of this Lease on Tenant's part to be observed or performed, Landlord shall have the right to enjoin such breach and the right to invoke any other remedy allowed by law or in equity as if re-entry, summary proceedings and other special remedies were not provided in this Lease for such breach. The right to invoke the remedies hereinbefore set forth are cumulative and shall not preclude Landlord from invoking any other remedy allowed at law or in equity.

Appears in 2 contracts

Samples: Lease Agreement (Intralinks Inc), Lease Agreement (Intralinks Inc)

Landlord’s Remedies. A) If and whenever i) The Tenant fails to pay any rent or other sums due hereunder on the day or dates required (provided the Landlord first gives five (5) days written notice to the Tenant of such a Default occursfailure); ii) The Tenant is in default of any of its covenants, obligations or agreements under This Lease (other than its covenant to pay rent) and such default continues for a period of fifteen (15) consecutive days (or such longer period as may be reasonable in the circumstances) after written notice by the Landlord shall to the Tenant specifying with reasonable particularity the nature of such default and requiring it to be remedied; iii) Any property of the Tenant on the Leased Premises has been sold under a valid writ of execution, or the Tenant has made an assignment for the benefit of creditors, or has made any assignment or has had a receiving order made against it under the Bankruptcy Act, or becoming bankrupt or insolvent, has made application for relief under the provisions of any statute now or hereafter in force concerning bankrupt or insolvent debtors, or where a receiver, or a receiver and manager has been appointed for all or a portion of the Tenant’s property or any action whatever, legislative or otherwise, has been taken with a view to the winding up, dissolution or liquidation of the Tenant; iv) Except in the circumstances contemplated by Section 7(c), the Leased Premises have been vacated or have become vacant or have remained unoccupied for a period of thirty (30) consecutive days, or v) The Tenant or his agent falsifies any report required to be furnished to the following rights and remediesLandlord, which shall then, the landlord may, a) Except in the case of non-payment of rent or other sums required to be distinctpaid by him under this Lease, separate and cumulativeremedy such default, and which the cost thereof, together with interest at the stipulated rate of interest from the date of default be added to the next payment of minimum rent due under this Lease, b) Without notice, re-enter upon the Leased Premises and repossess and enjoy them as of its former estate and remove all property from the Leased Premises. The Tenant may be exercised reclaim any property so removed within thirty (30) days of their removal by paying to the Landlord concurrently or consecutively in any combination expenses incurred for removal and which shall storage. If not operate to exclude or deprive Landlord of any other right or remedy which so claimed the Landlord may have in law dispose of same as it deems advisable without becoming liable for any loss or equity:damage caused thereby; (ac) Landlord may Where it elects to re-enter the Leased Premises, either terminate this Lease by giving notice in writing or may from time to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises time without terminating this Lease by giving notice the Lease, make such alterations and repairs as are necessary in order to Tenant that Tenant's right of possession shall end on re- let the date stated in such notice, whereupon the right of Tenant to possession of the Leased Premises or any part thereof for such term or terms (which may be for a term extending beyond the term) and at such rent and upon such terms, covenants and conditions as the Landlord considers advisable; B) None of the remedies provided to the Landlord at law or under this section shall cease be exclusive or dependent upon any other remedy, but the Landlord may from time to time exercise any one or more of such remedies generally or in combination, such remedies being cumulative and not alternative. C) In case of removal by the Tenant of the goods or chattels of the Tenant from the Leased Premises, the Landlord may follow the same for thirty (30) days in the same manner as provided for in The Landlord and Tenant Act, R.S.O. 1990, Chapter L.7, or any successor legislation or other statute that may hereafter be passed to take the place of it or to amend it. D) It is agreed that none of the goods or chattels of the Tenant at any time during the continuance of the term hereby created on the date stated said Leased Premises shall be exempt from levy by distress for rent in such notice but arrears by the Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Landlord’s Remedies. Landlord shall have the remedies described in this Paragraph 21 if Tenant is in Default thereunder. These remedies are not exclusive; they are cumulative and in addition to any remedies now or later allowed by law (including, without limitation, to the extent the Premises are located in California, the remedies of Civil Code Section 1951.4 and any successor statute or similar law, which provides that Landlord may continue this Lease in effect following Xxxxxx’s breach and abandonment and collect rent as it falls due, if Tenant has the right to sublet or assign, subject to reasonable limitations). Upon any Default by Xxxxxx, Landlord may: (a) Maintain this Lease in full force and effect and recover the rent and other monetary charges as they become due, without terminating Xxxxxx’s right to possession irrespective of whether Tenant shall have abandoned the Premises. If a Default occursLandlord elects not to terminate this Lease, Landlord shall have the following rights right to attempt to relet the Premises at such rent and remedies, which shall be distinct, separate and cumulativeupon conditions, and which for such a term, and to do all acts necessary to maintain or preserve the Premises, as Landlord deems reasonable and necessary, without being deemed to have elected to terminate this Lease, including re-entering the Premises to make repairs or to maintain or modify the Premises, and removing all persons and property from the Premises; such property may be exercised by removed and stored in a public warehouse or elsewhere at the cost of and for the account of Tenant. Reletting may be for a period shorter or longer than the remaining Term of this Lease, and for more or less rent, but Landlord concurrently or consecutively in shall have no obligation to relet at less than prevailing market rental rates. If reletting occurs, this Lease shall terminate automatically when the new tenant takes possession of the Premises. Notwithstanding that Xxxxxxxx fails to elect to terminate this Lease initially, Landlord at any combination and which shall not operate time thereafter may elect to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate this Lease by giving virtue of any previous uncured Default by Tenant. In the event of any such termination, Landlord shall be entitled to recover from Tenant notice all damages incurred by Landlord by reason of the Landlord's intention to do soTenant’s Default, in which event the Term shall endas well as all costs of reletting, including, without limitation, brokerage commissions and/or finder’s fees, attorneys’ fees, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice;restoration or remodeling costs. (b) Landlord may Terminate Tenant’s right to possession by any lawful means, in which case this Lease shall terminate the right of and Tenant to shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s Default including, without terminating this Lease limitation thereto, the following: (i) the worth, at the time of award, of any unpaid rent which had been earned at the time of such termination; plus (ii) the worth, at the time of award, of the amount by giving notice which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iii) the worth, at the time of award, of the amount by which the unpaid rent for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iv) any other amount, and court costs, necessary to compensate Landlord for all the detriment proximately caused by Tenant’s Default or which in the ordinary course of things would be likely to result there from (including, without limiting the generality of the foregoing, the amount of any brokerage commissions and/or finder’s fees for a replacement tenant, maintaining the Premises after such Default, and preparing the Premises for reletting); plus (v) 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 applicable law. As used in (i) and (ii) above, the “worth at the time of the award” is computed by allowing interest at the Interest Rate. As used in (iii) above, the “worth at the time of the award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus one percent (1%). Tenant that Tenant's hereby waives for Tenant and all those claiming under Tenant all rights now or hereafter existing, including, without limitation, any rights under California Code of Civil Procedure Sections 1174 and 1179 and Civil Code Section 1950.7 to redeem by order or judgment of any court or by any legal process or writ, Xxxxxx’s right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession occupancy of the Premises or after any part thereof shall cease on the date stated in such notice but Tenant's obligations under termination of this Lease shall continue in full force and effect; andLease. (c) Collect sublease rents (or appoint a receiver to collect such rents) and otherwise perform Tenant’s obligations at the Premises, it being agreed, however, that neither the filing of a petition for the appointment of a receiver for Tenant nor the appointment itself shall constitute an election by Landlord to terminate this Lease. (d) Proceed to cure the Default at Xxxxxx’s sole cost and expense. If at any time Landlord pays any sum or incurs any expense as a result of or in connection with curing any Default of Tenant, the amount thereof shall be deemed additional rent hereunder and shall be immediately due and payable by Tenant to Landlord upon demand. (e) Retain possession of all Tenant’s fixtures, furniture, equipment, improvements, additions, and other personal property in the Premises and, continue during the length of said Default, to use same, rent or charge free, until all Defaults are cured; or, upon the termination of this Lease, to require Tenant to forthwith remove same at Tenant’s sole cost and expense. For such purposes, Tenant hereby grants Landlord a security interest in Tenant’s merchandise, fixtures, furniture, equipment, improvements, alterations and other personal property and all proceeds of the sale or other disposition of such property (collectively, the “Collateral”) to secure the payment of all rent to be paid by Tenant pursuant to this Lease. Such lien and security interest shall be in addition to any landlord’s lien provided by law. This Lease shall constitute a security agreement under the Commercial Code of the State of California so that Landlord shall have and may enforce a security interest in the Collateral. Xxxxxx agrees to execute as debtor and deliver such financing statement or statements and any further documents as Landlord may enforce the provisions now or hereafter reasonably request to protect such security interest pursuant to such Code. Landlord may also at any time file a copy of this Lease or a Memorandum of Lease as a financing statement. Landlord, as secured party, shall be entitled to all rights and may enforce remedies afforded as secured party under such Code, which rights and protect remedies shall be in addition to Landlord’s liens and rights provided by law or by the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief terms and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease. (f) Pursue any and all other legal or equitable remedies as may be available to Landlord by reason of such Default by Xxxxxx. The remedies of Landlord, as hereinabove provided, are cumulative and in addition to and not exclusive of any other remedy of Landlord herein given or which may be permitted by law. The remedies of Landlord, as hereinabove provided, are subject to the other provisions herein. Nothing contained in this Paragraph 21 shall constitute a waiver of Landlord’s right to recover damages by reason of Xxxxxxxx’s efforts to mitigate the damage to it caused by Xxxxxx’s Default; nor shall anything herein adversely affect Landlord’s right, as in this Lease elsewhere provided, to indemnification against liability for injury or damage to persons or property occurring prior to the termination of this Lease.

Appears in 2 contracts

Samples: Standard Industrial Lease, Standard Industrial Lease (Solyndra, Inc.)

Landlord’s Remedies. (1) If a an Event of Default occursshall occur and be continuing, Landlord or if this Lease and the Term shall have the following rights expire and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively come to an end as provided in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityArticle 15: (a) Landlord and its agents and servants may terminate immediately, or at any time after such Event of Default or after the date upon which this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event and the Term shall expire and come to an end, re-enter the Premises or any part thereof, either by summary proceedings, or by any other applicable action or proceeding, (without being liable to indictment, prosecution or damages therefor), and may repossess the Premises and dispossess Tenant and any other persons from the Premises and remove any and all right, title of their property and interest of Tenant hereunder shall expire, on effects from the date stated in such notice;Premises; and (b) Landlord Landlord, at Landlord’s option, may terminate relet the right of Tenant to possession whole or any part or parts of the Premises without terminating this Lease by giving notice from time to Tenant that Tenant's right time, either in the name of possession Landlord or otherwise, to such tenant or tenants, for such term or terms ending before, on or after the Expiration Date, at such rental or rentals and upon such other conditions, which may include concessions and free rent periods, as Landlord, in its sole discretion, may determine. Landlord shall end on the date stated in such notice, whereupon the right of Tenant have no obligation to possession of relet the Premises or any part thereof and shall cease on in no event be liable for refusal or failure to relet the date stated Premises or any part thereof, or, in the event of any such notice but Tenant's obligations reletting, for refusal or failure to collect any rent due upon any such reletting, and no such refusal or failure shall operate to relieve Tenant of any liability under this Lease shall continue or otherwise to affect any such liability; Landlord, at Landlord’s option, may make such repairs, replacements, alterations, additions, improvements, decorations and other physical changes in full force and effect; andto the Premises as Landlord, in its sole discretion, considers advisable or necessary in connection with any such reletting or proposed reletting, without relieving Tenant of any liability under this Lease or otherwise affecting any such liability. (c2) Landlord Tenant hereby waives the service of any notice of intention to re-enter or to institute legal proceedings to that end which may enforce otherwise be required to be given under any present or future law. Tenant, on its own behalf and on behalf of all persons claiming through or under Tenant, including all creditors, does further hereby waive any and all rights which Tenant and all such persons might otherwise have under any present or future law to redeem the provisions Premises, or to re-enter or repossess the Premises, or to restore the operation of this Lease, after (i) Tenant shall have been dispossessed by a judgment or by warrant of any court or judge, or (ii) any re-entry by Landlord, or (iii) any expiration or termination of this Lease and may enforce and protect the rights Term, whether such dispossess, re-entry, expiration or Landlord hereunder termination shall be by a suit operation of law or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or pursuant to become due from Tenant under any of the provisions of this Lease. In the event of a breach or threatened breach by Tenant, or any persons claiming through or under Tenant, of any term, covenant or condition of this Lease on Tenant’s part to be observed or performed, Landlord shall have the right to enjoin such breach and the right to invoke any other remedy allowed by law or in equity as if re-entry, summary proceedings and other special remedies were not provided in this Lease for such breach. The right to invoke the remedies hereinbefore set forth are cumulative and shall not preclude Landlord from invoking any other remedy allowed at law or in equity.

Appears in 2 contracts

Samples: Lease Agreement (Compass, Inc.), Lease Agreement (Urban Compass, Inc.)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant, and without limiting Landlord's right to indemnification as provided in Article 8.2, Landlord shall have the following remedies, in addition to all other rights and remediesremedies provided by law or otherwise provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have resort cumulatively, or in law or equity: the alternative: (a) Landlord may, at Landlord's election, keep this Lease in effect and enforce, by an action at law or in equity, all of its rights and remedies under this Lease including, without limitation, (i) the right to recover the rent and other sums as they become due by appropriate legal action, (ii) the right to make payments required by Tenant, or perform Tenant's obligations and be reimbursed by Tenant for the cost thereof with interest at the then maximum rate of interest not prohibited by law from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant, and (iii) the remedies of injunctive relief and specific performance to prevent Tenant from violating the terms of this Lease and/or to compel Tenant to perform its obligations under this Lease, as the case may be. (b) Landlord may, at Landlord's election, terminate this Lease by giving to Tenant written notice of the Landlord's intention to do sotermination, in which event the Term this Lease shall end, and all right, title and interest of Tenant hereunder shall expire, terminate on the date stated set forth for termination in such notice;. Any termination under this subparagraph shall not relieve Tenant from its obligation to pay to Landlord all Base Monthly Rent and Additional Rent then or thereafter due, or any other sums due or thereafter accruing to Landlord, or from any claim against Tenant for damages previously accrued or then or thereafter accruing. In no event shall any one or more of the following actions by Landlord, in the absence of a written election by Landlord to terminate this Lease constitute a termination of this Lease: (i) Appointment of a receiver or keeper in order to protect Landlord's interest hereunder; (ii) Consent to any subletting of the Leased Premises or assignment of this Lease by Tenant, whether pursuant to the provisions hereof or otherwise; or (iii) Any action taken by Landlord or its partners, principals, members, officers, agents, employees, or servants, which is intended to mitigate the adverse effects of any breach of this Lease by Tenant, including, without limitation, any action taken to maintain and preserve the Leased Premises on any action taken to relet the Leased Premises or any portion thereof for the account at Tenant and in the name of Tenant. (bc) In the event Tenant breaches this Lease and abandons the Leased Premises, Landlord may terminate the right this Lease, but this Lease shall not terminate unless Landlord gives Tenant written notice of Tenant to possession of the Premises without terminating termination. If Landlord does not terminate this Lease by giving written notice of termination, Landlord may enforce all its rights and remedies under this Lease, including the right and remedies provided by California Civil Code Section 1951.4 ("lessor may continue lease in effect after lessee's breach and abandonment and recover rent as it becomes due, if lessee has right to sublet or assign, subject only to reasonable limitations"), as in effect on the Effective Date of this Lease. (d) In the event Landlord terminates this Lease, Landlord shall be entitled, at Landlord's election, to the rights and remedies provided in California Civil Code Section 1951.2, as in effect on the Effective Date of this Lease. For purposes of computing damages pursuant to Section 1951.2, an interest rate equal to the maximum rate of interest then not prohibited by law shall be used where permitted. Such damages shall include, without limitation: (i) The worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant that proves could be reasonably avoided, 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; and (ii) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant failure to possession of the Premises or any part thereof shall cease on the date stated in such notice but perform Tenant's obligations under this Lease shall continue Lease, or which in full force and effect; and the ordinary course of things would be likely to result therefrom, including without limitation, the following: (ci) Landlord may enforce expenses for cleaning, repairing or restoring the provisions of this Lease and may enforce and protect Leased Premises, (ii) expenses for altering, remodeling or otherwise improving the rights or Landlord hereunder by a suit or suits in equity or at law Leased Premises for the specific performance purpose of any covenant reletting, including removal of existing leasehold improvements and/or installation of additional leasehold improvements (regardless of how the same is funded, including reduction of rent, a direct payment or agreement contained hereinallowance to a new tenant, or for otherwise), (iii) broker's fees allocable to the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any remainder of the provisions term of this Lease, advertising costs and other expenses of reletting the Leased Premises; (iv) costs of carrying and maintaining the Leased Premises, such as taxes, insurance premiums, utility charges and security precautions, (v) expenses incurred in removing, disposing of and/or storing any of Tenant's personal property, inventory or trade fixtures remaining therein; (vi) reasonable attorney's fees, expert witness fees, court costs and other reasonable expenses incurred by Landlord (but not limited to taxable costs) in retaking possession of the Leased Premises, establishing damages hereunder, and releasing the Leased Premises; and (vii) any other expenses, costs or damages otherwise incurred or suffered as a result of Tenant's default.

Appears in 2 contracts

Samples: Lease Agreement (Vantive Corp), Lease Agreement (Vantive Corp)

Landlord’s Remedies. If a In the event of an Event of Default occursby Tenant, and without limiting Landlord’s right to indemnification as provided in Article 8.2, Landlord shall have the following remedies, in addition to all other rights and remediesremedies provided by law or otherwise provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have resort cumulatively, or in law or equitythe alternative: (a) Landlord may, at Landlord’s election, keep this Lease in effect and enforce, by an action at law or in equity, all of its rights and remedies under this Lease including, without limitation, (i) the right to recover the rent and other sums as they become due by appropriate legal action, (ii) the right to make payments required by Tenant, or perform Tenant’s obligations and be reimbursed by Tenant for the cost thereof with interest at the then maximum rate of interest not prohibited by law from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant, and (iii) the remedies of injunctive relief and specific performance to prevent Tenant from violating the terms of this Lease and/or to compel Tenant to perform its obligations under this Lease, as the case may be. (b) Landlord may, at Landlord’s election, if such election is made prior to a complete cure of the applicable Event of Default by Tenant, terminate this Lease by giving to Tenant written notice of the Landlord's intention to do sotermination, in which event the Term this Lease shall end, and all right, title and interest of Tenant hereunder shall expire, terminate on the date stated set forth for termination in such notice. Any termination under this subparagraph shall not relieve Tenant from its obligation to pay to Landlord all Base Monthly Rent and Additional Rent then or thereafter due, or any other sums due or thereafter accruing to Landlord, or from any claim against Tenant for damages previously accrued or then or thereafter accruing, In no event shall any one or more of the following actions by Landlord, in the absence of a written election by Landlord to terminate this Lease constitute a termination of this Lease: (i) Appointment of a receiver or keeper in order to protect Landlord’s interest hereunder; (bii) Consent to any subletting of the Leased Premises or assignment of this Lease by Tenant, whether pursuant to the provisions hereof or otherwise; or (iii) Any action taken by Landlord or its partners, principals, members, officers, agents, employees, or servants, which is intended to mitigate the adverse effects of any breach of this Lease by Tenant, including, without limitation, any action taken to maintain and preserve the Leased Premises on any action taken to relet the Leased Premises or any portion thereof for the account at Tenant and in the name of Tenant. (c) In the event Tenant breaches this Lease and abandons the Leased Premises, Landlord may terminate the right this Lease, but this Lease shall not terminate unless Landlord gives Tenant written notice of Tenant to possession of the Premises without terminating termination. If Landlord does not terminate this Lease by giving written notice of termination, Landlord may enforce all its rights and remedies under this Lease, including the right and remedies provided by California Civil Code Section 1951.4 (“lessor may continue lease in effect after lessee’s breach and abandonment and recover rent as it becomes due, if lessee has right to Tenant that Tenant's right of possession shall end sublet or assign, subject only to reasonable limitations”), as in effect on the date stated Effective Date of this Lease. (d) In the event Landlord terminates this Lease, Landlord shall be entitled, at Landlord’s election, to the rights and remedies provided in such noticeCalifornia Civil Code Section 1951.2, whereupon as in effect on the right Effective Date of Tenant this Lease. For purposes of computing damages pursuant to possession Section 1951.2, an interest rate equal to the maximum rate of interest then not prohibited by law shall be used where permitted. Such damages shall include, without limitation: (i) The worth at the time of award of the Premises or any part thereof shall cease on amount by which the date stated in unpaid rent for the balance of the term after the time of award exceeds the amount of such notice but Tenant's obligations under this Lease shall continue in full force and effectrental loss that Tenant proves could be reasonably avoided, 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; and (cii) Any other amount reasonably necessary to compensate Landlord may enforce for all detriment proximately caused by Tenant’s failure to perform Tenant’s obligations under this Lease, or which in the provisions ordinary course of this Lease and may enforce and protect things would be likely to result therefrom, including without limitation, the rights following: (i) expenses for cleaning, repairing or Landlord hereunder by a suit restoring the Leased Premises, (ii) expenses for altering, remodeling or suits in equity or at law otherwise improving the Leased Premises for the specific performance purpose of any covenant reletting, including removal of existing leasehold improvements and/or installation of additional leasehold improvements (regardless of how the same is funded, including reduction of rent, a direct payment or agreement contained hereinallowance to a new tenant, or for otherwise), (iii) broker’s fees allocable to the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any remainder of the provisions term of this Lease, advertising costs and other expenses of reletting the Leased Premises; (iv) costs of carrying and maintaining the Leased Premises, such as taxes, insurance premiums, utility charges and security precautions, (v) expenses incurred in removing, disposing of and/or storing any of Tenant’s personal property, inventory or trade fixtures remaining therein; (vi) reasonable attorney’s fees, expert witness fees, court costs and other reasonable expenses incurred by Landlord (but not limited to taxable costs) in retaking possession of the Leased Premises, establishing damages hereunder, and releasing the Leased Premises; and (vii) any other reasonable expenses, costs or damages otherwise incurred or suffered as a result of Tenant’s default.

Appears in 2 contracts

Samples: Lease Agreement (Lsi Logic Corp), Lease Agreement (Lsi Logic Corp)

Landlord’s Remedies. If a (a) Upon the occurrence of an Event of Default occursas defined in Paragraph 26 above, Landlord shall have the following rights option to do and remediesperform any one or more of the following, which shall be distinct, separate and cumulativein addition to, and which may be exercised by Landlord concurrently or consecutively not in any combination and which shall not operate to exclude or deprive Landlord of limitation of, any other remedy or right permitted or allowed by law or in equity or by the provisions of this Lease: (i) terminate this Lease, in which event Tenant shall immediately surrender possession of the Premises to Landlord and, if Tenant fails to so surrender possession of the Premises, Landlord shall have the right, without prejudice to any other remedy which Landlord may have for possession or arrearages in law or equity: (a) Landlord may terminate this Lease by giving Rent, to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, enter upon and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to take possession of the Premises without terminating this Lease by giving notice to and expel or remove Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of and any other person who may be occupying the Premises or any part thereof shall cease thereof, with or without process of law and by force if necessary, without being liable for prosecution or any claim of damages therefore and upon such termination recover from Tenant liquidated damages calculated as hereinafter provided in subparagraph 27(b); (ii) without terminating this Lease, enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, with or without process of law and by force if necessary, without being liable for prosecution of any claim for damages therefore and, if Landlord so elects, relet the Premises on such terms as Landlord deems advisable and receive the date stated rent therefore, Tenant hereby agreeing to pay to Landlord on demand any deficiency that may arise by reason of such reletting plus the costs of such reletting; (iii) enter the Premises, by force if necessary, without terminating this Lease or being liable for prosecution or for any claim of damages therefore, and do whatever Tenant is obligated to do under the terms of this Lease, and Tenant agrees to reimburse Landlord on demand for any and all expenses, including, without limitation, all attorneys' fees and court costs which Landlord may incur in such notice but thus effecting compliance with Tenant's obligations under this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant for such action, whether caused by the negligence of Landlord or otherwise; or (iv) without terminating this Lease, declare immediately due and payable the present value (calculated using a reasonable discount rate) of all Base Rent and Additional Rent due and coming due under this Lease for the entire remaining Term (as if by the terms of this Lease they were payable in advance), together with the cost of recovering and reletting the Premises (including, without limitation, attorney's fees and expenses) and all other expenses incurred by Landlord in connection with the Premises as of the date this provision is invoked by Landlord, plus interest thereon, and Landlord may immediately proceed to distrain, collect, or bring action for such sum, or may file a proof of claim in any bankruptcy or insolvency proceedings to enforce payment thereof, provided, however, that such payment shall continue not be deemed a penalty or liquidated damages, but shall merely constitute payment in full force advance of all Rent payable hereunder throughout the term, and effectprovided further, however, that upon receiving such payment, Tenant shall be entitled either to remain in possession of the Premises (subject to the performance of all other covenants, duties and obligations hereunder) or to receive from Landlord all rents received by Landlord from other assignees, tenants and subtenants on account of said Premises during the remainder of the Term (provided that the monies to which Tenant shall so become entitled shall in no event exceed the entire amount actually paid by Tenant to Landlord pursuant to this item (iv)), less all costs, expenses and attorney's fees of Landlord incurred in connection with the reletting of the Premises. (b) If this Lease is terminated by Landlord as a result of the occurrence of an Event of Default, Landlord shall have the right, at Landlord's election, to recover from Tenant all damages incurred by reason of such Tenant's default including, without limitation, a sum equal to (1) the then present value (calculated using a reasonable discount rate) of the excess, if any, of the total Base Rent and Additional Rent and all other sums which would have been payable hereunder by Tenant for the period commencing with the day following the date of such termination and ending with the scheduled expiration date of the Term, minus the aggregate reasonable rental value of the Premises for the same period (reasonably determined by Landlord as set forth below), plus (2) the costs of recovering the Premises and all other reasonable expenses incurred by Landlord due to Tenant's default, including, without limitation, attorneys' fees and expenses, plus (3) the unpaid Base Rent and Additional Rent or any other sums due by Tenant under this Lease as of the date of such termination, with interest thereon. In determining the aggregate reasonable rental value pursuant to item (1) above, the parties hereby agree that the following factors shall be considered by Landlord as of the time Landlord seeks to enforce such remedy: (A) the length of time remaining in the Term; and(B) the then current market conditions in the general area in which the Building is located; and (C) the rental rates then being obtained for space of similar type and size in similar type buildings in the general area in which the Building is located. Tenant agrees to pay the aforesaid amounts at once at the address of Landlord set forth in the preamble on page 1 of this Lease; provided, however, that such payment shall not constitute a penalty or forfeiture but shall constitute liquidated damages for Tenant's failure to comply with the terms and provision of this Lease (Landlord and Tenant agreeing that Landlord's actual damages in such event would be impossible to ascertain and that the amount set forth above is a reasonable estimate thereof). (c) Pursuit by Landlord of any of the foregoing remedies shall not preclude pursuit of any other remedy herein provided or any other remedy provided by law or in equity, nor shall pursuit by Landlord of any remedy herein provided constitute: (i) an election of remedies thereby excluding the later election of an alternate remedy, (ii) forfeiture or waiver of any Base Rent, Additional Rent or other rentals, charges or assessments payable by Tenant to Landlord hereunder, or (iii) forfeiture or waiver of any damages accruing to Landlord by reason of the violation of any of the terms, covenants, warranties and provisions herein contained. No action taken by or on behalf of Landlord shall be construed to be an acceptance or a surrender of this Lease. The forbearance of Landlord to enforce one or more of the remedies herein provided upon an Event of Default shall not be deemed or construed to constitute a waiver of such default. No waiver of any breach of the covenants, warranties, agreements, provisions or conditions contained in this Lease shall be construed as a waiver of said covenant, warranty, provision, agreement or condition or of any subsequent breach thereof. In determining the amount of loss or damage which Landlord may enforce the provisions suffer by reason of termination of this Lease and may enforce and protect or the rights or Landlord hereunder deficiency arising by a suit or suits in equity or at law for the specific performance reason of any covenant reletting of the Premises by Landlord as above provided, allowance shall be made for all expenses of repossession and any repairs or agreement contained herein, or for remodeling undertaken by Landlord following repossession. Tenant hereby agrees to pay to Landlord all costs and expenses incurred by Landlord in the enforcement of any other appropriate legal or equitable remedythis Lease, including injunctive relief including, without limitation, all fees and recovery expenses of all moneys attorneys employed by Landlord to effect collection of any sums due hereunder or to become enforce any right or remedy of Landlord. (d) If during the Term a Trustee is appointed for Tenant in any proceeding arising under Title 11 of the United States Code Relating to Bankruptcy, as amended, such Trustee shall have the right to assume Tenant's right and obligations under this Lease only if the Trustee: (i) promptly (no later than sixty (60) days following the filing of any motion or application to assume Tenant's obligation under this Lease) cures or provides adequate assurance that the Trustee will promptly cure any default under this Lease; (ii) compensates or provides adequate assurance that the Trustee will promptly compensate Landlord for any actual pecuniary loss (including, without limitation, rental and all other sums due from Tenant Tenant, and all resulting attorney's fees and costs incurred in connection with Tenant's bankruptcy proceedings) incurred by Landlord as a result of Tenant's default under this Lease; and (iii) provides adequate assurance of future performances under this Lease by the proposed assignee. Adequate assurance of future performance by the proposed assignee shall include, at a minimum, that: (a) any of the provisions proposed assignee of this Lease shall deliver to Landlord a security deposit in an amount equal to at least three (3) months' Base Rent accruing under this Lease and (b) any proposed assignee shall provide to Landlord a current and accurate financial statement, the proposed assignee to have a net worth equal to at least one year's Base Rent accruing under this Lease, or, in the alternative, the proposed assignee shall provide a guarantor of such proposed assignee's obligations under this Lease, which guarantor shall provide Landlord with an audited financial statement meeting the requirements of (b) here in above and shall execute and deliver to Landlord a guaranty agreement in form and substance acceptable to Landlord.

Appears in 2 contracts

Samples: Lease Agreement (KnowBe4, Inc.), Lease Agreement (KnowBe4, Inc.)

Landlord’s Remedies. If a any one or more Events of Default occursset forth in Section 24.1 occur, then Landlord shall have has the following rights and remediesright, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityat its election: (a) Landlord may terminate this Lease To give Tenant written notice by giving hand delivery to Tenant notice Tenant's last known address or via facsimile to Tenant's last known facsimile number of the Landlord's intention to do soterminate this Lease on the earliest date permitted by law or on any later date specified in such notice, in which event case Tenant's right to possession of the Term shall endPremises will cease and this Lease will be terminated, and all rightexcept as to Tenant's liability, title and interest as if the expiration of Tenant hereunder shall expire, on the date stated term fixed in such noticenotice were the end of the term; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such Without further demand or notice, whereupon the right of Tenant to reenter and take possession of the Premises or any part thereof shall cease on of the date stated in Premises, repossess the same, expel Tenant and those claiming through or under Tenant, and remove the effects of both or either, using such notice but Tenant's obligations force for such purposes as may be necessary, without being liable for prosecution, without being deemed guilty of any manner of trespass and without prejudice to any remedies for arrears of monthly rent or other amounts payable under this Lease shall continue in full force and effector as a result of any preceding breach of covenants or conditions; andor (c) Without further demand or notice to cure any Event of Default and to charge Tenant for the cost of effecting such cure, including, without limitation, reasonable attorneys' fees and interest on the amount so advanced at the rate of ten percent (10%) per annum, provided that Landlord will have no obligation to cure any such Event of Default of Tenant. Should Landlord elect to reenter as provided in (b), or should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided by law, Landlord may, from time to time, without terminating this Lease, relet the Premises or any part of the Premises in Landlord's or Tenant's name, but for the account of Tenant, for such term or terms (which may be greater or less than the period that would otherwise have constituted the balance of the term) and on such conditions and upon such other terms (which may include concessions of free rent and alteration and repair of the Premises) as Landlord, in its reasonable discretion, may determine, and Landlord may enforce collect and receive the provisions Rent. Landlord will in no way be responsible or liable for any failure to relet the Premises, or any part of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained hereinPremises, or for the enforcement of any other appropriate legal failure to collect any Rent due upon such reletting. No such reentry or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any taking possession of the provisions Premises by Landlord will be construed as an election on Landlord's part to terminate this Lease unless a written notice of such intention is given to Tenant. No written notice from Landlord under this LeaseSection 24.2 or under a forcible or unlawful entry and detainer statute or similar law will constitute an election by Landlord to terminate this Lease unless such notice specifically so states. Landlord reserves the right following any such reentry or reletting to exercise its right to terminate this Lease by giving Tenant such written notice, in which event this Lease will terminate as specified in such notice.

Appears in 2 contracts

Samples: Lease Agreement (Software Spectrum Inc), Asset Purchase Agreement (Egghead Inc /Wa/)

Landlord’s Remedies. If a any Event of Default occurs, then and in each such case, Landlord may treat the occurrence of such Event of Default as a breach of this Lease, and in addition to any and all other rights or remedies of Landlord in this Lease or by law or in equity provided, Landlord shall have, in its option, without further notice of demand of any kind to Tenant or any other person: (i) the right to terminate this Lease; (ii) the right to bring suit for the collection of Rent, as it accrues pursuant to the terms of this Lease, and damages (including without limitation reasonable attorneys' fees and the cost of renovating the Premises) without entering into possession of the Premises or canceling this Lease; (iii) the right to retake possession of the Premises from Tenant by summary proceedings or otherwise, and it is agreed that the commencement and prosecution of any action by Landlord in forcible entry and detainer, ejectment or otherwise, or any execution of any judgment or decree obtained in any action to recover possession of the Premises, shall not be construed as an election to terminate this Lease whether or not such entry or reentry be had or taken under summary proceedings or otherwise and shall not be deemed to have absolved or discharged Tenant from any of its obligations or liabilities for the remainder of the Term. Tenant shall, notwithstanding any such entry or re-entry, continue to be liable for the payment of Rent and performance of the covenants conditions and agreements by Tenant to be performed set forth in this Lease, and Tenant shall pay all monthly deficits in Rent after any such re-entry in monthly installments as the amounts of such deficits from time to time are ascertained. Nothing herein contained shall be construed as obligating the Landlord to relet the whole or any part of the Premises. In the event of any entry or taking possession of the Premises as aforesaid, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on but not the date stated in such notice; (b) Landlord may terminate the right of Tenant obligation; to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises remove therefrom all or any part thereof shall cease on of the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease personal property located therein and may enforce place the same in storage at a public warehouse at the expense and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any risk of the provisions of this Leaseowner or owners thereof.

Appears in 2 contracts

Samples: Lease Agreement (Searchhelp Inc), Lease Agreement (Searchhelp Inc)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant, and without limiting Landlord’s right to indemnification as provided in Article 8.2, Landlord shall have the following remedies, in addition to all other rights and remediesremedies provided by law or otherwise provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have resort cumulatively, or in the alternative: A. Landlord may, at Landlord’s election, keep this Lease in effect and enforce, by an action at law or in equity:, all of its rights and remedies under this Lease including, without limitation, (i) the right to recover the rent and other sums as they become due by appropriate legal action, (ii) the right to make payments required of Tenant, or perform Tenant’s obligations and be reimbursed by Tenant for the cost thereof with interest at the then maximum rate of interest not prohibited by Law from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant, and (iii) the remedies of injunctive relief and specific performance to prevent Tenant from violating the terms of this Lease and/or to compel Tenant to perform its obligations under this Lease, as the case may be. (a) B. Landlord may may, at Landlord’s election, terminate this Lease by giving to Tenant written notice of the Landlord's intention to do sotermination, in which event the Term this Lease shall end, and all right, title and interest of Tenant hereunder shall expire, terminate on the date stated set forth for termination in such notice. Any termination under this Subparagraph shall not relieve Tenant from its obligation to pay to Landlord all Base Monthly Rent and Additional Rent then or thereafter due, or any other sums due or thereafter accruing to Landlord, or from any claim against Tenant for damages previously accrued or then or thereafter accruing. In no event shall any one or more of the following actions by landlord, in the absence of a written election by Landlord to terminate this Lease, constitute a termination of this Lease: (1) Appointment of a receiver or keeper in order to protect Landlord’s interest hereunder; (b2) Consent to any subletting of the Leased Premises or assignment of this Lease by Tenant, whether pursuant to the provisions hereof or otherwise; or (3) Any other action by Landlord or Landlord’s agents intended to mitigate the adverse effects of any breach of this Lease by Tenant, including, without limitation, any action taken to maintain and preserve the Leased Premises or any action taken to relet the Leased Premises, or any portion thereof, for the account of Tenant and in the name of Tenant. C. In the event Tenant breaches this Lease and abandons the Leased Premises, Landlord may terminate this Lease, but this Lease shall not terminate unless Landlord gives Tenant written notice of termination. No act by or on behalf of Landlord intended to mitigate the adverse effect of such breach, including those described by Subparagraphs B(1), (2) and (3) immediately preceding, shall constitute a termination of Tenant’s right of Tenant to possession unless Landlord gives Tenant written notice of the Premises without terminating termination. If Landlord does not terminate this Lease by giving written notice to Tenant that Tenant's right of possession shall end on the date stated in such noticetermination, whereupon Landlord may enforce all its rights and remedies under this lease, including the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations recover rent as it becomes due under this Lease as provided in California Civil Code Section 1951.4, as in effect on the Effective Date of this Lease. D. In the event Landlord terminates this Lease, Landlord shall continue be entitled, at Landlord’s election, to damages in full force and effectan amount as set forth in California Civil Code Section 1951.2, an interest rate equal to the maximum rate of interest then not prohibited by Law shall be used where permitted. Such damages shall include, without limitation: (1) The worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided, 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; and (c2) Any other amount necessary to compensate Landlord may enforce for all detriment proximately caused by Tenant’s failure to perform Tenant’s obligations under this lease, or which in the provisions ordinary course of this Lease and may enforce and protect things would be likely to result therefrom, including, without limitation, the rights following (i) expenses for cleaning, repairing or Landlord hereunder by a suit restoring the Leased Premises; (ii) expenses for altering, remodeling or suits in equity or at law otherwise improving the Leased Premises for the specific performance purpose of any covenant reletting, including removal of existing leasehold improvements and/or installation of additional leasehold improvements (regardless of how the same is funded, including reduction of rent, a direct payment or agreement contained hereinallowance to a new tenant, or for otherwise); (iii) broker’s fees, advertising costs and other expenses of reletting the enforcement Leased Premises; (iv) costs of carrying the Leased Premises, such as taxes, insurance premiums, utility charges and security precautions; (v) expenses incurred in removing, disposing of and/or storing any of Tenant’s personal property, inventory or trade fixtures remaining therein; (vi) attorney’s fees, expert witness fees, court costs and other reasonable expenses incurred by landlord (but not limited to taxable costs) in retaking possession of the Leased Premises, establishing damages hereunder, and releasing the Leased Premises; and (vii) any other appropriate legal expenses, costs or equitable remedy, including injunctive relief and recovery damages otherwise incurred or suffered as a result of all moneys due or to become due from Tenant under any of the provisions of this LeaseTenant’s default.

Appears in 2 contracts

Samples: Industrial Space Lease (Adeza Biomedical Corp), Industrial Space Lease (Adeza Biomedical Corp)

Landlord’s Remedies. If a Default occurs(a) In the event Tenant shall fail to pay the rent or any other obligation involving the payment of money reserved herein when due, Landlord shall give Tenant written notice of such default and if Tenant shall fail to cure such default within ten (10) days after receipt of such notice, Landlord shall, in addition to its other remedies provided by law and in this Lease, have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively remedies set forth in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (aParagraph 25(c) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice;hereof. (b) If Tenant shall be in default in performing any of the terms of this Lease or any other agreement to which Tenant is a party, other than the payment of rent or any other obligation involving the payment of money, Landlord shall give Tenant written notice of such default, and if Tenant shall fail to cure such default within thirty (30) days after the receipt of such notice, or if the default is of such a character as to require more than thirty (30) days to cure, then if Tenant shall fail within said thirty (30) day period to commence and thereafter proceed diligently to cure such default, then and in either of such events, Landlord may terminate (at its option and in addition to its other legal remedies) cure such default for the account of Tenant and any sum so expended by Landlord shall be additional rent for all purposes hereunder, including Paragraph 25(a) hereof and shall be paid by Tenant with the next monthly installment of rent. (c) If any rent or any other obligation involving the payment of money shall be due and unpaid or Tenant shall be in default upon any of the other terms of this Lease, and such default has not been cured after notice and within the time provided in Paragraphs 25(a) and (b) hereof, or, if the Premises are abandoned or vacated, and rent payments are delinquent, then Landlord, in addition to its other remedies, shall have the immediate right of Tenant re-entry. Should Landlord elect to re-enter or take possession of the Premises pursuant to legal proceedings or any notice provided for by law, Landlord may either terminate this Lease or from time to time, without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such noticeLease, whereupon the right of Tenant to possession of relet the Premises or any part thereof on such terms and conditions as Landlord shall cease on in its reasonable discretion deem advisable. The avails of such reletting shall be applied: first, to the date stated payment of any indebtedness of Tenant to Landlord other than rent due hereunder; second, to the payment of any reasonable costs of such reletting, including the cost of any reasonable alterations and repairs to the Premises, third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. Should the avails of such notice but Tenant's obligations under reletting during any month be less than the monthly rent reserved hereunder, then Tenant shall during each such month pay such deficiency to Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Premises and reasonable attorney’s fees incidental thereto, all of which amounts shall continue in full force be immediately due and effect; andpayable. (cd) All rights and remedies of Landlord may enforce the provisions of this Lease and may enforce Tenant hereunder shall be cumulative and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement none shall be exclusive of any other appropriate legal or equitable remedy, including injunctive relief rights and recovery remedies allowed by law. (e) Each of Landlord and Tenant shall take all moneys due or reasonable actions to become due mitigate its respective damages resulting from Tenant under any a breach of the provisions of this Leaseother party; provided, however, that it is understood and agreed that Landlord may lease other vacant premises in the Building prior to leasing the Premises if Tenant is in default hereunder.

Appears in 2 contracts

Samples: Lease (Rocket Companies, Inc.), Lease (Rocket Companies, Inc.)

Landlord’s Remedies. (a) If a Default occurs, Landlord shall have the following rights and remediesremedies hereinafter set forth, which shall be distinct, separate distinct and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (ai) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's intention election to do so, in which event event, the Term term of this Lease shall end, end and all right, title of Tenant's rights and interest of Tenant hereunder interests shall expire, expire on the date stated in such notice; ; (bii) Landlord may terminate the Tenant's right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that TenantXxxxxx's right of possession shall end on the date stated specified in such notice, whereupon the right of Tenant to possession of the Premises ; or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (ciii) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or of the Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys monies due or to become due for the balance of the Term from Tenant under any of the provisions of this Lease. (b) In the event that Landlord terminates the Lease, Landlord shall be entitled to recover as damages for loss of the bargain and not as a penalty, the present value of the excess, if any, of (i) Rent for the balance of the Term, plus all Landlord's reasonable expenses of reletting, including without limitation, repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions (collectively, the "Reletting Expenses"), over (ii) the aggregate amount of Rent actually collected by Landlord for the Premises. In the event that Xxxxxxxx receives a judgment against Tenant before any Rent is actually collected by Landlord for the Premises under this Section 11.02(b), Landlord shall recalculate the foregoing upon the receipt of any such Rent and shall remit the excess, if any, to Tenant. (c) In the event Landlord proceeds pursuant to subparagraph (a)(ii) above, Landlord may, but shall not be obligated to (except as may be required by law), relet the Premises, or any part thereof for the account of Tenant, for such rent and term and upon such terms and conditions as are reasonably acceptable to Landlord. For purposes of such reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent reasonably necessary or desirable. If the Premises are relet and the consideration realized therefrom after payment of all Landlord's Reletting Expenses, is insufficient to satisfy the payment when due of Rent reserved under this Lease for any monthly period, then Tenant shall pay Landlord upon demand any such deficiency monthly. If such consideration is greater than the amount necessary to pay the full amount of the Rent, the full amount of such excess shall be retained by Landlord and shall in no event be payable to Tenant. Xxxxxx agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. (d) In the event a Default occurs, Landlord may, at Landlord's option, enter into the Premises, remove Tenant's property, fixtures, furnishings, signs and other evidences of tenancy, and take and hold such property; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant's obligation to pay the Rent reserved hereunder for the full Term or from any other obligation of Tenant under this Lease. Any and all property which may be removed from the Premises by Landlord pursuant to the authority of the Lease or law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the risk, cost and expense of Tenant, and Landlord shall in no event be responsible for the value, preservation or safekeeping thereof. Tenant shall pay Landlord, upon demand, any and all reasonable expenses incurred in such removal and all storage charges against such property so long as the same shall be in the Landlord's possession or under the Landlord's control. Any such property of Tenant not retaken from storage by Tenant within thirty (30) days after the Termination Date, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as a bill of sale without further payment or credit by Landlord to Tenant.

Appears in 1 contract

Samples: Office Lease (Northern Trust Corp)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following All rights and remedies, which remedies of Landlord herein enumerated shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which none shall not operate to exclude or deprive Landlord of any other right or remedy which allowed by law. In addition to the other remedies in this Sublease provided, Landlord may have in law shall be entitled to the restraint by injunction of the violation or equity:attempted violation of any of the covenants, agreements or conditions of this Sublease or the Prime Lease, and Landlord shall be entitled to recover all direct and consequential damages arising out of or caused by Tenant's violation of any of the covenants, agreements or conditions of this Sublease or the Prime Lease. (a) If Tenant shall (i) apply for or consent to the appointment of a receiver, trustee or liquidator of Tenant or of all or a substantial part of its assets, (ii) file a voluntary petition in bankruptcy, (iii) make a general assignment for the benefit of creditors, (iv) file a petition or an answer seeking reorganization or arrangement with creditors or to take advantage of any insolvency law, or (v) file an answer admitting the material allegations of a petition filed against Tenant in any bankruptcy, reorganization or insolvency proceeding, or if an order, judgment or decree shall be entered by any court of competent jurisdiction adjudicating Tenant a bankrupt or insolvent or approving a petition seeking reorganization of Tenant or appointing a receiver, trustee or liquidator of Tenant or of all or a substantial part of its assets, then, in any of such events, Landlord may terminate this Lease Sublease by giving written notice to Tenant Tenant, and upon the giving of such notice the term of the Landlord's intention to do so, in which event the Term shall end, this Sublease and all right, title and interest of Tenant hereunder shall expire, on expire as fully and completely as if that day were the date stated in such notice;herein specifically fixed for the expiration of the term. (b) Landlord may terminate If Tenant defaults in the right payment of rent or Additional Rent and such default continues for ten (10) days after written notice to Tenant, or if Tenant defaults in the prompt and full performance of any other provision of this Sublease, and if such other default continues for thirty (30) days after written notice, or if the leasehold interest of Tenant be levied upon under execution or be attached by process of law, then, and in any such event, Landlord may, at its election, either terminate this Sublease and Tenant's right to possession of the Premises Premises, or, without terminating this Lease Sublease, re-enter and endeavor to relet the Premises. Nothing herein shall relieve Tenant of any obligation, including the payment of rent and Additional Rent, as provided in this Sublease. (c) Upon any termination of this Sublease, Tenant shall surrender possession and vacate the Premises immediately, and deliver possession thereof to Landlord, and Tenant hereby grants to Landlord full and free license to enter into and upon the Premises in such event and to repossess the Premises, and to expel or remove Tenant and any others who may be occupying or within the Premises, and to remove any and all property therefrom, using such force as may be allowed by giving notice law, without being deemed in any manner guilty of trespass, eviction or forcible entry or detainer, and without relinquishing Landlord's right to rent and Additional Rent, or any other right given to Landlord hereunder or by operation of law. (d) If Landlord elects, without terminating the Sublease, to endeavor to relet the Premises, Landlord may, at Landlord's option, enter into the Premises and take and hold possession thereof, without such entry and possession terminating the Sublease or releasing Tenant, in whole or in part, from Tenant's obligation to pay rent and Additional Rent hereunder for the full Term as hereinafter provided. Upon and after entry into possession without termination of the Sublease, Landlord shall endeavor in good faith (but without being obligated to incur out of pocket costs as part of such endeavor) to relet the Premises for the account of Tenant to any person, firm or corporation other than Tenant for such rent, for such time and upon such terms as Landlord shall determine to be reasonable. In any such case, Landlord may make repairs in or to the Premises as are necessary to restore the Premises to as good a condition as existed at the commencement date of this Sublease, and Tenant shall, upon demand, pay the cost thereof, together with Landlord's expenses of the reletting. If the consideration collected by Landlord upon any such reletting for Tenant's account is not sufficient to pay monthly the full amount of the rent and Additional Rent reserved in this Sublease, together with the cost of repairs and Landlord's expenses, Tenant shall pay to Landlord the amount of each monthly deficiency upon demand. (e) If Landlord elects to terminate this Sublease pursuant to this Section 19, it being understood that Landlord may elect to terminate the Sublease after and notwithstanding its election to terminate Tenant's right to possession provided in Section 19 (b) above, Landlord shall forthwith upon such termination be entitled to recover an amount equal to the damages sustained by Landlord as a result of possession Tenant's default hereunder, and in addition thereto, an amount equal to the rent provided in this Sublease for the residue of the Term, less the current rental value of the Premises for the residue of the Term. (f) Any and all property which may be removed from the Premises by Landlord pursuant to the authority of this Sublease or of law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the risk, cost and expense of Tenant, and Landlord shall end on in no event be responsible for the date stated value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such notice, whereupon removal and all storage charges against such property so long as the right same shall be in Landlord's possession or under Landlord's control. Any such property of Tenant not removed from the Premises or retaken from storage by Tenant within thirty (30) days after the end of the Term or of Tenant's right to possession of the Premises Premises, however terminated, shall be conclusively deemed to have been forever abandoned by Tenant and either may be retained by Landlord as its property, or any part thereof shall cease on the date stated may be disposed of in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) manner as Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Leasesee fit.

Appears in 1 contract

Samples: Sublease (Build a Bear Workshop Inc)

Landlord’s Remedies. If a Default occursUpon the occurrence of an event default, Landlord shall have has all of the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively all in any combination and which shall not operate addition to exclude or deprive Landlord of any other right or remedy which remedies that Landlord may have in at law or in equity: (a) Landlord may terminate this Lease by giving written notice to Tenant, upon which termination Tenant notice shall immediately surrender possession of the Property, vacate the Property, and deliver possession of the Property to Landlord's intention . Tenant hereby makes a present grant to do soLandlord of a full, free and irrevocable license to enter into and upon the Property, in which the event the Term shall endLandlord terminates this Lease in accordance with this subsection (a), and to repossess the Property, to expel or remove Tenant and any others who may be occupying or within the Property, and to remove any and all rightproperty therefrom, title using such force as may be necessary, with or without process of law, without being deemed in any manner guilty of trespass, eviction or forcible entry or detainer, and interest without relinquishing Landlord’s right to rent or any other right given to Landlord hereunder or by operation of Tenant hereunder shall expire, on the date stated in such notice;law. (b) Landlord may terminate the by written notice declare Tenant’s right of Tenant to possession of the Premises Property terminated without terminating this Lease by giving notice Lease. Tenant hereby makes a present grant to Tenant that Landlord of a full, free and irrevocable license to enter into and upon the Property, in the event Landlord terminates Tenant's ’s right of possession shall end on in accordance with this subsection (b), and to repossess the date stated Property, to expel or remove Tenant and any others who may be occupying or within the Property, and to remove any and all property therefrom, using such force as may be necessary, with or without process of law, without being deemed in such noticeany manner guilty of trespass, whereupon the eviction or forcible entry or detainer, and without relinquishing Landlord’s right of Tenant to possession of the Premises rent or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; andother right given to Landlord hereunder or by operation of law. (c) Subject to Section 12.01(e), Landlord may enforce relet the provisions Property in whole or in part for any period equal to or greater or less than the remainder of this Lease the Term, as applicable, for any sum that Landlord may deem reasonable. (d) Landlord may collect any and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys rents due or to become due from Tenant under any subtenants or other occupants of the provisions of Property. (e) Landlord may recover from Tenant, with or without terminating this Lease, actual attorney’s fees and other expenses incurred by Landlord by reason of Tenant’s default and elect to recover damages described under either (1) or (2): (1) from time to time, an amount equal to the sum of all Base Rent and other sums that have become due and remain unpaid, less the rent, if any, collected by Landlord on reletting the Property reduced by the amount of all expenses incurred by Landlord in connection with reletting the Property; or (2) immediately upon Tenant’s default, an amount equal to the difference between the Base Rent and the fair rental value of the Property for the remainder of the Term, discounted to the date of such default at a rate per annum equal to the rate at which Landlord could borrow funds for the same period as of the date of such default. (f) Reentry or reletting of the Property, or any part thereof, shall not terminate this Lease, unless accompanied by Landlord’s written notice of termination to Tenant.

Appears in 1 contract

Samples: Ground Lease and Security Agreement

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which default shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently made in the payment of the rent or consecutively any installment thereof or in any combination and which shall not operate to exclude or deprive Landlord the payment of any other right sum required to be paid by Tenant under this Lease, or remedy under the terms of any other lease or agreement between Landlord and Tenant, and such default shall continue for ten (10) days after written notice to Tenant or if default shall be made in the performance of any of the other covenants or conditions which Tenant is required to observe and perform hereunder or under any other lease or agreement between Landlord and Tenant and such default shall continue for thirty (30) days after written notice to Tenant or if the interest of Tenant in this Lease shall be levied on under execution or other legal process, or if any petition shall be filed by or against Tenant to declare Tenant a bankrupt or to delay, reduce or modify Tenant's debts or obligations or if any petition shall be filed or other action taken to reorganize or modify Tenant's capital structure, if Tenant be a corporation or other entity, or if Tenant be declared insolvent according to law or if any assignment of Tenant's property shall be made for the benefit of creditors or if a receive or trustee is appointed for Tenant or its property or if Tenant shall abandon or vacate the Premises during the Term of this Lease, then Landlord may treat the occurrence of any one or more of the foregoing events as a breach of this Leas, and thereupon at its option may, without notice or demand of any kind to Tenant or any other person, have any one or more of the following described remedies in addition to all other rights and remedies provided cat law or in equity: (a) Landlord may terminate this Lease by giving to Tenant notice of and the Landlord's intention to do soTerm created hereby, in which event Landlord may forthwith repossess the Premises and be entitled to recover forthwith as damages a sum of money equal to the value of the rent provided to be paid by Tenant for the balance of the stated Term shall endof the Lease, less the fair rental value of the Premises for such period, and all right, title any other sum of money and interest of damages owed by Tenant hereunder shall expire, on the date stated in such notice;to Landlord. (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession and may repossess the Premises by forcible entry and detainer suit, or otherwise, without demand or notice of any kind to Tenant and without terminating this Lease, in which event Landlord may, but shall end on the date stated in such noticebe under no obligation so to do, whereupon the right of Tenant to possession relet all or any part of the Premises for such rent and upon such terms as shall be satisfactory to Landlord (including the right to relet the Premises for a term greater or any part thereof shall cease on lesser than that remaining under the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions Term of this Lease and the right to relet the Premises as a part of a larger area and the right to change the character or use made of the Premises). For the purpose of such reletting, Landlord may enforce make such repairs, changes, alterations or additions in or to the Premises as may be necessary or convenient. If Landlord shall fail or refuse to relet the Premises, then Tenant shall pay to landlord as damages a sum equal to the amount of the rent reserved in this Lease for such period or periods. If the Premises are relet and protect a sufficient sum shall not be realized from such reletting after paying all of the rights costs and expenses of such repairs, changes, alterations and additions and the expense of such reletting and the collection of the rent accruing therefrom, to satisfy the rent above provided to be paid, Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time; and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this paragraph from time to time and that any suit or recovery of any portion due Landlord hereunder by a suit or suits shall be no defense to any subsequent action brought for any amount not theretofore reduced to judgment in equity or at law for the specific performance favor of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this LeaseLandlord.

Appears in 1 contract

Samples: Lease Agreement (Winston Furniture Co of Alabama Inc)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, remedies all of which shall be distinct, separate are cumulative and cumulative, not alternative and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord the exclusion of any other right or remedy which Landlord may have additional rights and remedies in law or equityequity available to Landlord by statute or otherwise: A. to remedy or attempt to remedy any default of Tenant, and in doing so to make any payments due or alleged to be due by Tenant to third parties and to enter upon Premises to do any work or other things therein, and in such event all reasonable expenses of Landlord in remedying or attempting to remedy such default shall be payable by Tenant to Landlord on demand; B. with respect to unpaid overdue Rent, to the payment by Tenant of the Rent shall result in the imposition of a service charge for such late payment in the amount of ten percent (a10%) Landlord may per month of the gross monthly rent from the date upon which the same was due until actual payment thereof C. to terminate this Lease forthwith by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of leaving upon the Premises without or by affixing to an entrance door to the Premises notice terminating this Lease by giving notice and to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant immediately thereafter cease to possession of furnish services hereunder and enter into and upon the Premises or any part thereof shall cease on in the date stated name of the whole and the same to have again, re-possess and enjoy as of its former estate, anything in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce contained to the provisions contrary notwithstanding. Upon such termination of this Lease and the Term, Tenant shall immediately deliver up possession of the Premises to Landlord, and Landlord may enforce forthwith re-enter and protect take possession of them, pursuant to court order, and; D. to enter the rights or Landlord hereunder by a suit or suits in equity or at law for Premises as agent of Tenant and as such agent to re-let them and to receive the specific performance rent therefor and as the agent of Tenant to take possession of any covenant furniture or agreement contained herein, other property thereon and upon giving ten (10) days’ written notice to Tenant to store the same at the expense and risk of Tenant or for to sell or otherwise dispose of the enforcement same at public or private sale without further notice and to apply the proceeds thereof and any rent derived from re-letting the Premises upon account of any other appropriate legal or equitable remedy, including injunctive relief the Rent due and recovery of all moneys due or to become due from under this Lease and Tenant under any of shall be liable to Landlord for the provisions of this Leasedeficiency if any.

Appears in 1 contract

Samples: Office Lease Agreement

Landlord’s Remedies. If (a) Upon the expiration of the period of time set forth in a Default occursNotice of Termination, without the specified defaults having been cured, Tenant shall then immediately quit and surrender the Premises and each and every part thereof to Landlord, and Landlord may enter upon the Premises, by force, summary proceedings, or otherwise. In any of such events, Landlord shall be entitled to the benefit of all provisions of the ordinances and Public Local Laws of the City or County where the Premises is located and of the Public General Laws of the State of Maryland dealing with the speedy recovery of lands and tenements held over by tenants or proceedings in forcible entry and detainer. Upon any entry or re-entry by Landlord, with or without legal process, Landlord shall also have the right (but not the obligation) to relet all or any part of the Premises, from time to time, at the risk and expense of Tenant. No entry or re-entry by Landlord with or without a declaration of termination shall be deemed to be an acceptance or a surrender of this Lease or as a release of the Tenant's liability for damages under the provisions of this section. (b) Tenant further agrees (i) notwithstanding entry or re-entry by Landlord with or without termination pursuant to the provisions above, or (ii) if this Lease is otherwise annulled or terminated by reason of Tenant's default, or (iii) if Landlord retakes possession with or without process of law and/or re-enters with or without a declaration of termination, or (iv) if Landlord, following any of the foregoing events, elects to let or relet the Premises (whether once or more than once during the remainder of the Term, and upon such conditions as are satisfactory to Landlord), that Tenant shall, nevertheless, in each instance, remain liable for the performance of any covenant of this Lease then in default and for all Annual Rent and any Additional Rent which may be due or sustained before the date of the occurrence of any of the events described in items ( i), (ii), or (iii) above, together with the cost of seizure and repossession of the Premises and reasonable attorney's fees incurred by Landlord as a result of the breach of this Lease. (c) In connection with the foregoing, Tenant is liable for all reasonable costs and expenses incurred in connection with the Event of Default, including, but not limited to, the cost to repair, restore, renovate, or decorate the Premises for a new tenant, reasonable attorney's fees, real estate commissions, and the cost of any legal actions brought against Tenant. In connection with any such letting(s) or reletting(s), Landlord shall have the following rights absolute right, without such action's being or being deemed to be a surrender of its rights, a cancellation of this Lease, or a release of Tenant's liability hereunder for the balance of the Term, to let or relet the Premises for a longer or shorter term than that remaining after the Event of Default, to lease more or less area than that contained in the Premises, to lease the Premises together with other premises or property owned or controlled by Landlord, and remediesto change the character or use of the Premises. Tenant shall continue to be responsible for and liable for any deficit created thereby. (d) No entry or re-entry by Landlord, which whether had or taken under summary proceedings or otherwise, nor any letting or reletting shall absolve or discharge Tenant from liability hereunder. Tenant's liability hereunder, even if there be no letting or reletting, shall survive the issuance of any dispossess warrant, order of court terminating this Lease, or any other termination based upon an Event of Default. The words "enter," "re-enter," and "re-entry" as used in this section and elsewhere in this Lease are not restricted to their technical legal meanings. (e) Suit or suits for the recovery of such deficiency or damages or for a sum equal to any installment or installments of Annual Rent and Additional Rent may be brought by Landlord from time to time, at Landlord's election. Nothing herein contained shall be distinctdeemed to require Landlord to await the date when this Lease or the Term would have normally expired had there been no such Event of Default by Tenant or no such cancellation or termination by Landlord, separate and cumulative, and which may nor shall Landlord be exercised barred by any claim involving a statute of limitations or other defense should Landlord delay in filing suit. (f) No payment received by Landlord concurrently from Tenant after re-entry or consecutively the cancellation or termination of this Lease in any combination and which lawful manner shall not operate to exclude reinstate, continue, or deprive Landlord extend the Term of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate this Lease by giving or affect any notice theretofore given to Tenant notice by Landlord or operate as a waiver of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant Landlord to recover possession of the Premises without terminating this Lease by giving notice proper suit, action, proceedings, or other remedy. (g) In the event of Default, Landlord shall be entitled to Tenant that Tenant's right of possession shall end all plans and drawings prepared for or on the date stated in such notice, whereupon the right of Tenant to possession behalf of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law Tenant for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any renovation of the provisions of this LeasePremises.

Appears in 1 contract

Samples: Commercial Lease Agreement

Landlord’s Remedies. If a Default occursUpon the occurrence of an Event of Default, Landlord shall have the following remedies, in addition to any and all other rights and remediesremedies available at Law or in equity or otherwise provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently any one or consecutively in any combination and which shall not operate to exclude or deprive Landlord more of any other right or remedy which Landlord may have resort to cumulatively, consecutively, or in law or equitythe alternative: (a) Landlord may continue this Lease in full force and effect, and collect Rent, Additioinal Rent and other charges as and when due, without prejudice to Landlord’s right to subsequently elect to terminate this Lease by giving to Tenant notice on account of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest such Event of Tenant hereunder shall expire, on the date stated in such noticeDefault; (b) Landlord may, but shall not be obligated to, perform any defaulted obligation of Tenant, and to recover from Tenant, as Additional Rent, the costs incurred by Landlord in performing such obligation. Notwithstanding the foregoing, or any other notice and cure period set forth herein, Landlord may terminate exercise its rights under this Section 15.2(c) without prior notice or upon shorter notice than otherwise required hereunder (and as may be reasonable under the right circumstances) in the event of Tenant to possession any one or more of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right following circumstances is present: (i) there exists a reasonable risk of possession shall end on prosecution of Landlord unless such obligation is performed sooner than the date stated in such notice, whereupon the right of Tenant to possession cure period; (ii) there exists an emergency arising out of the Premises defaulted obligation; or any part thereof shall cease on (iii) the date stated in Tenant has failed to obtain insurance required by this Lease, or such notice but insurance has been canceled by the insurer without being timely replaced by Tenant's obligations under this Lease shall continue in full force and effect; and, as required herein. (c) Landlord may enforce terminate this Lease upon written notice to Tenant to such effect, in which event this Lease (and all of Tenant’s rights hereunder) shall immediately terminate, and, at the election of Landlord, Tenant will (1) indemnify Landlord each month against all loss of Rent and Additional Rent and all obligations which Landlord may incur by reason of any such termination between the time of termination and the expiration of the term of the Lease; or at the election of Landlord, exercised at the time of the termination or at any time thereafter, or (2) pay to the Landlord as damages such amount as at the time of the exercise of the election represents the amount by which the fair rental value of the Premises for the period from the exercise of the election until the expiration of the term shall be less than the amount of rent and other payments provided herein to be paid by Tenant to Landlord during said period discounted to present value using as a discount rate the yield on actively traded United States Treasury Securities having a maturity of three (3) years. It is understood and agreed that at the time of the termination or at any time thereafter Landlord shall make commercially reasonable efforts to rent the Premises at fair market value, and for a term which may expire after the expiration of the term of this Lease, provided, however, that if the Premises are rented as aforesaid then the amount of rent received in such case shall be applied to reduce Tenant's liability for rent under this Lease; that Tenant shall be liable for any reasonable expenses incurred by Landlord in connection with obtaining possession of the Premises, with removing from the Premises property of Tenant and persons claiming under it (including warehouse charges), with putting the Premises into good condition for reletting, and with any reletting, including, but without limitation, reasonable attorneys' fees and brokers' fees, and that any monies collected from any reletting shall be applied first to the foregoing expenses and then to the payment of rent and all other payments due from Tenant to Landlord. Nothing contained in this Section shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding, an amount equal to the maximum allowed by any statute or rule of law governing such a proceeding and in effect at the time when such damages are to be proved, whether or not such amount be greater, equal or less than the amounts recoverable, either as damages or Rent, referred to in any of the preceding provisions of this Lease and may enforce and protect Section. Notwithstanding anything contained in this Section to the rights contrary, any such proceeding or Landlord hereunder by a suit or suits in equity or at law action involving bankruptcy, insolvency, reorganization, arrangement assignment for the specific performance benefit of any covenant or agreement contained hereincreditors, or for appointment of a receiver or trustee, as set forth above, shall be considered to be an Act of Default only when such proceeding, action or remedy shall be taken or brought by or against the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any then holder of the provisions of leasehold estate under this Lease. In the event the Lease is terminated by Landlord as provided for hereunder, Landlord shall take comerrcially reasonable efforts to mitigate its damages and relet the Premises in a timely fashion at Fair Market Rent.

Appears in 1 contract

Samples: Lease Agreement (Ufp Technologies Inc)

Landlord’s Remedies. A) If and whenever: i) The Tenant fails to pay any rent or other sums due hereunder on the day or dates required (provided the Landlord first gives fifteen days written notice to the Tenant of such a Default occursfailure); ii) The Tenant is in default of any of its covenants, obligations or agreements under This Lease (other than its covenant to pay rent) and such default continues for a period of 15 consecutive days (or such longer period as may be reasonable in the circumstances) after written notice by the Landlord shall have to the following rights Tenant specifying with reasonable particularity the nature of such default and remediesrequiring it to be remedied; iii) The Tenant or his agent falsifies any report required to be furnished to the Landlord, which shall then, the landlord may: a) Except in the case of non-payment of rent or other sums required to be distinctpaid by him under this Lease, separate and cumulativeremedy such default, and which the cost thereof, together with interest at the stipulated rate of interest from the date of default be added to the next payment of minimum rent due under this Lease; b) Without notice, re-enter upon the Leased Premises and repossess and enjoy them as of its former estate and remove all property from the Leased Premises. The Tenant may be exercised reclaim any property so removed within 30 days of their removal by paying to the Landlord concurrently or consecutively in any combination expenses incurred for removal and which shall storage. If not operate to exclude or deprive Landlord of any other right or remedy which so claimed the Landlord may have in law dispose of same as it deems advisable without becoming liable for any loss or equity:damage caused thereby; (ac) Landlord may Where it elects to re-enter the Leased Premises, either terminate this Lease by giving notice in writing or may from time to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises time without terminating this Lease by giving notice the Lease, make such alterations and repairs as are necessary in order to Tenant that Tenant's right of possession shall end on relet the date stated in such notice, whereupon the right of Tenant to possession of the Leased Premises or any part thereof for such term or terms (which may be for a term extending beyond the term) and at such rent and upon such terms, covenants and conditions as the Landlord considers advisable. B) None of the remedies provided to the Landlord at law or under this section shall cease be exclusive or dependent upon any other remedy, but the Landlord may from time to time exercise any one or more of such remedies generally or in combination, such remedies being cumulative and not alternative. C) In case of removal by the Tenant of the goods or chattels of the Tenant from the Leased Premises, the Landlord may follow the same for 30 days in the same manner as provided for in The Commercial Tenancies Act, R.S.O. 1990, Chapter L.7, or any successor legislation or other statute that may hereafter be passed to take the place of it or to amend it. D) It is agreed that none of the goods or chattels of the Tenant at any time during the continuance of the term hereby created on the date stated said Leased Premises shall be exempt from levy by distress for rent in such notice but arrears by the Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease.

Appears in 1 contract

Samples: Lease Agreement

Landlord’s Remedies. If a Default occursUpon the occurrence of an Event of Default, Landlord shall have Landlord, at its option, without further notice or demand to Tenant, may, in addition to all other rights and remedies provided in this Lease, at law or in equity, elect one or more of the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Terminate this Lease, or terminate Tenant’s right of possession to the Premises without terminating this Lease, and with or without reentering and repossessing the Premises. Upon any termination of this Lease, or upon any termination of Tenant’s right of possession without termination of this Lease, Tenant shall surrender possession and vacate the Premises immediately, and deliver possession thereof to Landlord. If Tenant fails to surrender possession and vacate the Premises, Landlord and its Agents shall have full and free license to lawfully enter into and upon the Premises with or without process of law for the purpose of repossessing the Premises, removing Tenant and removing, storing or disposing of any and all Alterations, signs, personal property, equipment and other property therefrom. Landlord may terminate take these actions without (i) being deemed guilty of trespass, eviction or forcible entry or detainer, (ii) incurring any liability for any damage resulting therefrom, for which Tenant hereby waives any right to claim, (iii) terminating this Lease by giving to Tenant notice of the Landlord's intention (unless Landlord intends to do so), (iv) releasing Tenant or any Guarantor, in which event whole or in part, from any obligation under this Lease or any Guaranty thereof, including, without limitation, the Term shall endobligation to pay Rent, and all right, title and interest Rental Deficiency (as defined herein) or Damages (as defined herein) or (v) relinquishing any other right given to Landlord hereunder or by operation of Tenant hereunder shall expire, on the date stated in such noticelaw; (b) Landlord may terminate the right of Tenant to possession Recover one or more of the Premises without terminating following: (i) unpaid Rent (whether accruing prior to, on or after the date of termination of this Lease by giving notice to Tenant that or Tenant's ’s right of possession shall end on and/or pursuant to the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the holdover provisions of Section 22.2), (ii) Rental Deficiency (as defined herein) or (iii) any Damages (as defined herein). As used in this Lease and may enforce and protect Section, the rights or Landlord hereunder by a suit or suits in equity or at law for terms used herein have the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease.following definitions:

Appears in 1 contract

Samples: Office Lease (RigNet, Inc.)

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Landlord’s Remedies. If a Default occurs(a) Upon the occurrence of any such Event of Default, Landlord shall have the right to pursue any one or more of the following remedies in addition to all other rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude remedies provided herein or deprive Landlord of any other right or remedy which Landlord may have in at law or in equity: (ai) Without any further notice or demand whatsoever, Tenant shall be obligated to reimburse Landlord for the damages suffered by Landlord as a result of the event of default, plus interest on such amount at the maximum contractual rate which could legally be charged in the event of a loan of such amount to Tenant (but in no event to exceed 1-1/2% per month); and Landlord may pursue a monetary recovery from Tenant. (ii) Without any further notice or demand whatsoever, Landlord may take any one or more of the actions permissible at law to insure performance by Tenant of Tenant’s covenants and obligations under this Lease. In this regard, and without limiting the generality of the immediately preceding sentence, if Tenant deserts or vacates the Premises, Landlord may enter upon and take possession of such Premises in order to protect them from deterioration and continue to demand from Tenant the monthly rentals and other charges provided in this Lease, without any obligation to relet; however, if Landlord does, at its sole discretion, elect to relet the Premises, such action by Landlord shall not be deemed as an acceptance of Tenant’s surrender of the Premises. (iii) Landlord may terminate this Lease by giving written notice to Tenant, in which event Tenant notice of shall immediately surrender the Premises to Landlord's intention , and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which Landlord may have for possession or arrearages in rent (including any late charge or interest which event may have accrued pursuant to this Lease), enter upon and take possession of the Term Premises and expel or remove Tenant and any other person who may be occupying said Premises or any part thereof, by force if necessary, without being liable for prosecution or any claim for damages therefor. Tenant hereby waives any statutory requirement of prior written notice for filing eviction or damage suits for nonpayment of rent. In addition, Tenant agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of any termination effected pursuant to this subsection, said loss and damage to be determined by either of the following alternative measures of damages: (1) Until Landlord is able, through reasonable efforts, the nature of which efforts shall endbe at the sole discretion of Landlord, to relet the Premises under terms satisfactory to Landlord in its sole discretion, Tenant shall pay to Landlord on or before the first day of each calendar month the monthly rentals and other charges provided in this Lease. If and after the Premises have been relet by Landlord, Tenant shall pay to Landlord on the twentieth (20th) day of each calendar month the difference between the monthly rentals and other charges provided in this Lease for such calendar month and that actually collected by Landlord for such month. If it is necessary for Landlord to bring suit in order to collect any deficiency, Landlord shall have a right to allow such deficiencies to accumulate and to bring an action on several or all of the accrued deficiencies at one time. Any such suit shall not prejudice in any way the right of Landlord to bring a similar action for any subsequent deficiency or deficiencies. Any amount collected by Landlord from subsequent tenants for any calendar month in excess of the monthly rentals and other charges provided in this Lease, shall be credited to Tenant in reduction of Tenant’s liability for any calendar month for which the amount collected by Landlord will be less than the monthly rentals and other charges provided in this Lease; but Tenant shall have no right to such excess other than the above-described credit. (2) When Landlord desires, Landlord may demand a final settlement. Upon demand for a final settlement, Landlord shall have a right to, and Tenant hereby agrees to pay, the difference between the total of all rightmonthly rentals and other charges provided in this Lease for the remainder of the term and the reasonable rental value of the Premises for such period, title and such difference to be discounted to present value at a rate equal to the rate of interest which is allowed by law in the State of Tenant hereunder shall expireTexas when the parties to a contract have not agreed on any particular rate of interest (or, in the absence of such law, at the rate of six percent (6%) per annum). The parties agree that the foregoing satisfies any duty of mitigation on the date stated part of the Landlord, and the Tenant waives any further duty of mitigation on the part of the Landlord. (iv) Lessor may alter locks and other security devices at the Premises and prevent Lessee from entering the Premises, in accordance with Section 93.002 of the Texas Property Code, as amended from time to time. If Landlord elects to exercise any remedy prescribed above, this election shall in no way prejudice Landlord’s right at any time thereafter to cancel said election in favor of any other remedy prescribed above or in other sections of this Lease and any other remedies provided by law. Forbearance by Landlord to enforce one or more of the remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of such notice;default. (b) Landlord may terminate It is expressly agreed that in determining “the right of Tenant monthly rentals and other charges provided in this Lease,” as that term is used throughout this Section, there shall be added to possession of the Premises without terminating this Lease by giving notice Base Monthly Rent a sum equal to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force charges for Tax Expenses and effect; andInsurance Expenses (c) It is further agreed that, in addition to payments required above, Tenant shall reimburse and/or otherwise compensate Landlord may enforce for all expenses incurred by Landlord in repossession of the Premises and the enforcement of its rights under this Lease. (d) In the event that any one or more provisions of this Lease authorizes Landlord to enter the Premises, Landlord is entitled and may enforce and protect is hereby authorized, without any notice to Tenant, to enter upon the rights Premises by use of a duplicate key, a master key, a locksmith’s entry procedures or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal means not involving personal confrontation, and to alter or equitable remedy, including injunctive relief and recovery of change the door locks on all moneys due or to become due from Tenant under any entry doors of the provisions Premises, thereby permanently excluding Tenant. In such event Landlord shall not be obligated to place any written notice on the Premises explaining Landlord’s action; moreover, if a reason for Landlord’s action is the failure of Tenant to pay any one or more rentals when due pursuant to this Lease, Landlord shall not be required to provide the new key (if any) to Tenant until and unless all rental defaults of Tenant have been fully cured.

Appears in 1 contract

Samples: Warehouse Lease (Pizza Inn Inc /Mo/)

Landlord’s Remedies. If a Default occurs, 12.1 All right and remedies of the Landlord shall have the following rights and remedies, which herein enumerated shall be distinct, separate cumulative and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which none shall not operate to exclude or deprive Landlord of any other right or remedy allowed by law. A. If the Tenants defaults in any payment of Rent, and the Tenant does no cure the default within (10) days after demand for payment of such Rent or if the Tenant defaults in the prompt and full performance of any other provisions of this Lease, and the Tenant does not cure the default with thirty (30) days after written demand by the Landlord that the default be cured (unless the default involves hazardous condition, which shall be cured forthwith); or if the leasehold interest of the Tenant be levied upon under execution or be attached by process of law, or if the Tenant makes an assignment for the benefit of creditors or admits its inability to pay its debts generally, or if a receiver be appointed for any property of the Tenant, or if the Tenant abandons the Premises, then, and in any such event, the Landlord, may if the Landlord may have in law so elects by not otherwise, and with or equity: (a) Landlord may without notice of such election, and with or without any demand whatsoever, either forthwith terminate this Lease by giving to Tenant notice of and the LandlordTenant's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises or, without terminating this Lease by giving notice to Tenant that Lease, forthwith terminate the Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises, Except for defaults in payment of Rent, if Tenant is diligently proceeding to cure any default he shall have the ability to do so for up to sixty (60) days, after which all Landlords remedies will proceed. B. Upon termination of this Lease, whether by lapse of time or otherwise, or upon any termination of the Tenant's right to possession without termination of the Lease, the Tenant shall surrender possession and grants to the Landlord full and free license to enter into and upon the Premises in such event with or without process of law and to repossess the Landlord of the Premises and to remove any and all property therefrom, using such force as may be necessary, without being deemed in any manner guilty of trespass, eviction or forcible entry or detainer, and without relinquishing the Landlord's rights to Rent or any part thereof other right given to the Landlord hereunder or by operation of law. C. (Intentionally omitted) D. If any involuntary action or proceeding under any section or sections of any bankruptcy act in any court or tribunal shall cease on adjudge or declare Tenant insolvent or unable to pay Tenant's debts, or if any voluntary petition or similar proceeding under any section or sections of any bankruptcy act shall be filed by Tenant in any court or tribunal to declare Tenant insolvent or unable to pay Tenant's debts, then and in any such event Landlord may, if Landlord so elects by note otherwise, and with or without notice of such election, and with or without entry or other action by Landlord, forthwith terminate this Lease, and notwithstanding any other provision of this Lease, Landlord shall forthwith upon such termination be entitled to recover damages in an amount equal to the date stated then present value of the Rent for the remainder of the Term, less the fair rental value of the Premises for the remainder of the Term. E. Any and all property which may be removed from the Premises by the Landlord pursuant to the authority of the Lease or of law, to which the Tenant is or may be entitled, may be handled, removed or stored by the Landlord at the risk, cost and expense of the Tenant, and the Landlord shall in no event be responsible for the value, preservation or safekeeping thereof. The Tenant shall pay to the Landlord, upon demand, any and all expenses incurred in such notice but Tenant's obligations removal and all storage charges against such property so long as the same shall be to the conclusively presumed to have been conveyed by the Tenant to the Landlord under this Lease as a bill of sale without further payment or credit by the Landlord to the Tenant. F. The Tenat shall continue in full force pay upon demand all the Landlord's costs, charges and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedyexpenses, including injunctive relief the fees of counsel, agents and recovery of all moneys due others retained by the Landlord, incurred in enforcing the tenants obligations hereunder or incurred by the Landlord in any litigation, negotiation or transaction in which the Tenant causes the Landlord, without the Landlord's fault, to become due from Tenant under any of the provisions of this Leaseinvolved or concerned.

Appears in 1 contract

Samples: Commercial Lease (Accumed International Inc)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following 40.1 The rights and remedies, which shall be remedies given to Landlord in this Lease are distinct, separate and cumulativecumulative remedies, and which may be no one of them, whether or not exercised by Landlord, shall be deemed to be in exclusion of any of the others. 40.2 In addition to any other legal remedies for violation or breach by or on the part of Tenant or by any undertenant or by anyone holding or claiming under Tenant or any one of them, of the restrictions, agreements or covenants of this Lease on the part of Tenant to be performed or fulfilled, such violation or breach shall be restrainable by injunction at the suit of Landlord. 40.3 No receipt of money by Landlord concurrently from any receiver, trustee or consecutively custodian, debtor in possession, or any combination permitted subtenant, shall reinstate, continue or extend the term of this Lease or affect any notice theretofore given to Tenant, or to any such receiver, trustee or custodian, debtor in possession, or any permitted subtenant, or operate as a waiver or estoppel of the right of Landlord to recover possession of the Leased Premises for any of the causes therein enumerated by any lawful remedy; and which the failure of Landlord to enforce any covenant or condition by reason of its breach by Tenant shall not operate be deemed to exclude void or deprive affect the right of Landlord to enforce the same covenant or condition on the occasion of any subsequent default or breach. 40.4 Tenant agrees that it shall reimburse Landlord for Landlord's reasonable attorney's fees incurred in enforcing the terms and conditions of this Lease on the part of Tenant to be performed. Tenant further agrees to reimburse Landlord for Landlord's attorney's fees incurred in connection with the review by Landlord of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's intention to do sowaiver, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) assignment or sublet agreement or any other documentation reviewed by Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that at Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Leaserequest.

Appears in 1 contract

Samples: Lease Agreement (Able Laboratories Inc)

Landlord’s Remedies. 21.2.1 If a an Event of Default occursshall have occurred, Landlord and/or Landlord's agents and servants, whether or not the Term of this Lease shall have the following rights and remediesbeen terminated pursuant to Section 21.1, which shall be distinctmay, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of immediately or at any time thereafter reenter into or upon the Premises or any part thereof shall cease on thereof, either by summary dispossess proceedings or by any suitable action or proceeding at law, or by force or otherwise, to the date stated extent legally permitted, without being liable to indictment, prosecution or damages therefor, and may repossess the same, and may remove any persons or property therefrom, to the end that Landlord may have, hold and enjoy the Premises again as and of its first estate and interest therein. The words "reenter" "reentry" and "reentered" as used in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce are not restricted to their technical legal meanings. In the event of any termination of this Lease under the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained hereinSection 21.1, or for in the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant event that Landlord shall reenter the Premises under any of the provisions of Section 21.2, or in the event of the termination of this Lease (or of reentry) by or under any summary dispossess or other proceeding or action or any provision of law, Tenant shall thereupon pay to Landlord the Base Rent, Additional Rent and any other charges payable hereunder by Tenant to Landlord up to the time of such termination of this Lease, or of such recovery of possession of the Premises by Landlord, as the case may be, plus the expenses incurred or paid by Landlord in terminating this Lease or of reentering the Premises and securing possession thereof, including reasonable attorneys' fees and costs of removal and storage of Tenant's property, and Tenant shall also pay to Landlord damages as provided in Section 21.3 below.

Appears in 1 contract

Samples: Lease Agreement (Signal Apparel Company Inc)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which (a) default shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently made in the payment of the Rent or consecutively any installment thereof or in any combination and which shall not operate to exclude or deprive Landlord the payment of any other right sum required to be paid by Tenant under this Lease, or remedy under the terms of any other agreement between Landlord and Tenant, and such default shall continue for ten (10) days after written notice to Tenant, or (b) if default shall be made in the full and prompt performance of any of the other covenants or conditions which Tenant is required to observe and perform and such default shall continue for thirty (30) days after written notice to Tenant or, if such default is not susceptible of cure within thirty (30) days, within such additional period as may be reasonable so long as Tenant is engaged in the diligent cure thereof, or (c) if the interest of Tenant in this Lease shall be levied on under execution or other legal process, or (d) if any petition shall be filed by or against Tenant to declare Tenant a bankrupt or to delay, reduce or modify Tenant’s debts or obligations, and, if filed against Tenant, is not dismissed within sixty (60) days, or (e) if any petition shall be filed or other action taken to reorganize or modify Tenant’s capital structure, if Tenant be a corporation or other entity, or (f) if Tenant be declared insolvent according to law or if any assignment of Tenant’s property shall be made for the benefit of creditors, or (g) if a receiver or trustee is appointed for Tenant or its property, then Landlord may treat the occurrence of any one or more of the foregoing events as a breach of this Lease, and thereupon at its option may, without notice or demand of any kind to Tenant or any other person, but subject to the duty to mitigate its damages stated below, have any one or more of the following described remedies in addition to all other rights and remedies provided at law or in equity: (ai) Landlord may terminate this Lease by giving to Tenant notice of and the Landlord's intention to do soTerm created hereby, in which event Landlord may forthwith repossess the Premises and be entitled to recover forthwith as damages a sum of money equal to the present value of the Rent provided to be paid by Tenant for the balance of the stated Term shall endof the Lease, less the fair rental value of the Premises for said period, and all right, title any other sum of money and interest of damages owed by Tenant hereunder shall expire, on the date stated in such notice;to Landlord. (bii) Landlord may terminate the Tenant’s right of Tenant to possession of and may repossess the Premises by forcible entry and detainer suit or otherwise, without demand or notice of any kind to Tenant and without terminating this Lease by giving notice Lease, in which event Landlord shall use its reasonable efforts to Tenant that Tenant's right relet the Premises, for such amount of possession rent and upon such terms as shall end on the date stated in such notice, whereupon be reasonably satisfactory to Landlord (including the right of Tenant to possession of relet the Premises for a lease term which is greater or any part thereof shall cease on lesser than that remaining under the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions Term of this Lease and the right to relet the Premises as a part of a larger area and the right to change the character or use made of the Premises). For the purpose of such reletting, Landlord is authorized to decorate or to make any repairs, changes, alterations or additions in or to the Premises that may enforce be reasonably necessary. Landlord’s duty to mitigate its damages under this subparagraph (ii) shall be limited to a duty to attempt to relet the Premises by listing the Premises for lease with Gxxxx & Exxxx (or similar type of commercial real estate broker familiar with similar properties in the area) pursuant to an agreement that imposes usual and protect customary marketing obligations on the rights listing broker within fifteen (15) days of Landlord’s actual knowledge of the Tenant’s default hereunder, and to continue to list the Premises for lease for a period of one hundred twenty (120) days thereafter. Failure of Landlord to lease the Premises prior to any other vacant space in the Building shall not be deemed a failure to mitigate under this subparagraph (ii). If (A) Landlord shall fail to relet the Premises within said one hundred twenty (120) day period or (B) the Premises are relet and a sufficient sum shall not be realized from such reletting after paying the expenses of the collection of the Rent to satisfy the Rent provided for in this Lease to be paid, then Tenant shall pay to Landlord as damages a sum equal to the amount of the Rent accrued and unpaid from the date of default until expiration of the Term or any Extension Term then in effect under the Lease, or, if the Premises have been relet, Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time, and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this paragraph and any other sums due under this Lease from time to time and that no suit or recovery of any portion due Landlord hereunder by a suit shall be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. In the case of such termination of the Lease or suits Tenant’s right of possession, Tenant shall indemnify Landlord against all reasonable costs and expenses incurred in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become collecting amounts due from Tenant under this Lease (including reasonable attorneys’ fees, litigation expenses and the like) and recovering possession of the Premises. Tenant hereby waives trial by jury in any action or proceeding brought by, through or under Landlord, under or in connection with this Lease. Tenant hereby agrees that to the extent any of the provisions foregoing notice periods provided for in this Article 18 and elsewhere in this Lease are greater than the notice periods required under the statutes of this Leasethe State of Illinois, such greater notice periods as are provided for herein shall substitute for any such statutory notice periods, and any notices given pursuant to the terms hereof shall be deemed the notice required by any such statutes.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Sanfilippo John B & Son Inc)

Landlord’s Remedies. If a Whenever any Default occursshall have happened and be continuing, Landlord shall have may take, but only upon not less than five (5) days’ written notice to Tenant, one or any combination of the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityremedial steps: (a) Landlord may terminate i. without terminating this Lease by giving to Tenant notice of the Landlord's intention to do soLease, in which event the Term shall end, re-enter and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to take possession of the Premises Property and exclude Tenant from using it until the Event of Default is cured; ii. terminate this Agreement and, lawfully, at Landlord’s option immediately or at any time thereafter, without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such demand or notice, whereupon enter into and upon the right Property and every part thereof and repossess the Property as of Landlord’s former estate, thereby expelling Tenant, forcibly if necessary, all without being deemed guilty of trespass and without prejudice to any remedy which otherwise might be used for arrears of rent; iii. lease or sell the Property in whole or in part to any lessee or lessees who may be satisfactory to Landlord, for any duration, and for the best rent, terms, and conditions as Landlord may reasonably obtain; iv. terminate this Agreement, exclude Tenant to from possession of the Premises Property, holding Tenant liable for the remainder of the Rent Payments, any other payments due under this Agreement, and the Purchase Price of the Property, unless such payments are recouped through Landlord’s subsequent rental or sale of the Property; or v. take any action at law or in equity which may appear necessary or desirable to collect the Rent Payments or any part thereof shall cease on the date stated in such notice but Tenant's obligations other payments due under this Lease shall continue in full force Agreement or enforce performance and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance observance of any obligation, agreement or covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease.Agreement;

Appears in 1 contract

Samples: Lease Agreement

Landlord’s Remedies. If a Default occursUpon occurrence of any default by ------------------- Tenant under this Lease and (i) if the event of default described in Section 7.1(a) is not cured within ten (10) days after receipt by Tenant of written notice from Landlord of such default (provided, however, Landlord shall only be obligated to notify Tenant in writing twice during any twelve (12) month period, thereafter, Tenant shall be in default if Tenant fails to pay any sum due under this Lease as and when due); or (ii) the events described in Sections 7.1(b), (d), (f) and (g) are not cured within thirty (30) days after written notice from Landlord of such default (unless such default cannot reasonably be corrected within said thirty (30) days in which event Tenant shall not be in default if Tenant commences such correction within said thirty (30) days and thereafter diligently prosecutes such correction to completion; there being no notice and cure period for events of defaults described in Sections 7.1(c), (e) and (h) except as otherwise set forth herein), the Landlord shall have the option to do and perform any one or more of the following rights and remedies, which shall be distinct, separate and cumulativein addition to, and which may be exercised by Landlord concurrently or consecutively not in any combination and which shall not operate to exclude or deprive Landlord of limitation of, any other remedy or right or remedy which Landlord may have in permitted it by law or equityin equity or by this Lease: (a) Landlord may terminate Continue this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall endfull force and effect, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; andeffect as long as Landlord does not terminate this Lease, and Landlord shall have the right to collect Rent, Additional Rent and other charges when due. (b) Terminate this Lease, and Landlord may forthwith repossess the Premises and be entitled to recover as damages a sum of money equal to the total of (i) the cost of recovering the Premises, (ii) the cost of removing and storing Tenant's or any other occupant's property, (iii) the unpaid Rent and any other sums accrued hereunder at the date of termination, (iv) a sum equal to the amount, if any, by which the present value of the total Rent and other benefits which would have accrued to Landlord under this Lease for the remainder of the Term, if the terms of this Lease had been fully complied with by Tenant, discounted at five percent (5%) per annum exceeds the total fair market value of the Premises for the balance of the Term (it being the agreement of the parties hereto that Landlord shall receive the benefit of its bargain), (v) the cost of reletting the Premises including, without limitation, the cost of restoring the Premises to the condition necessary to rent the Premises at the prevailing market rental rate, normal wear and tear excepted, (vi) any increase in insurance premiums caused by the vacancy of the Premises, (vii) the amount of any unamortized improvements to the Premises paid for by Landlord, (viii) the amount of any unamortized brokerage commission or other costs paid by Landlord in connection with the leasing of the Premises and (ix) any other sum of money or damages owed by Tenant to Landlord. In the event Landlord shall elect to terminate this Lease, Landlord shall at once have all the rights of reentry upon the Premises, without becoming liable for damages, or guilty of trespass. (c) Terminate Tenant's right of occupancy of the Premises and reenter and repossess the Premises by entry, forcible entry or detainer suit or otherwise, without demand or notice of any kind to Tenant and without terminating this Lease, without acceptance of surrender of possession of the Premises, and without becoming liable for damages or guilty of trespass, in which event Landlord may enforce may, but shall be under no obligation to, relet the provisions Premises or any part thereof for the account of Tenant (nor shall Landlord be under any obligation to relet the Premises before Landlord relets or leases any other portion of the Project or any other property under the ownership or control of Landlord) for a period equal to or lesser or greater than the remainder of the Term of the Lease on whatever terms and conditions Landlord, at Landlord's sole discretion, deems advisable. Tenant shall be liable for and shall pay to Landlord all Rent payable by Tenant under this Lease (plus interest at the Default Rate provided in Section 3.1(c) of this Lease if in arrears) plus an amount equal to (i) the cost of recovering possession of the Premises, (ii) the cost of removing and storing any of Tenant's or any other occupant's property left on the Premises or the Project after reentry, (iii) the cost of decorations, repairs, changes, alterations and additions to the Premises and the Project, (iv) the cost of any attempted reletting or reletting and the collection of the rent accruing from such reletting, (v) the cost of any brokerage fees or commissions payable by Landlord in connection with any reletting or attempted reletting, (vi) any other costs incurred by Landlord in connection with any such reletting or attempted reletting, (vii) the cost of any increase in insurance premiums caused by the termination of possession of the Premises, (viii) the cost of any increase in insurance premiums caused by the termination of possession of the Premises, (ix) the amount of any unamortized improvements to the Premises paid for by Landlord, (x) the amount of any unamortized brokerage commissions or other costs paid by Landlord in connection with the leasing of the Premises and (xi) any other sum of money or damages owed by Tenant to Landlord at law., It is agreed to by Landlord and Tenant that all the above will be reduced by any sums received by Landlord through any reletting of the Premises; provided, however, that in no event shall Tenant be entitled to -------- ------- any excess of any sums obtained by reletting over and above Rent provided in this Lease to be paid by Tenant to Landlord. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations or additions in or to the Premises that may enforce be necessary. Landlord may file suit to recover any sums falling due under the terms of this Section 7.2(c) from time to time, and protect the rights -------------- no delivery to or recovery by Landlord of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord. No reletting shall be construed as an election on the part of Landlord to terminate this Lease unless a written notice of such intention is given to Tenant by a suit or suits in equity or Landlord. Notwithstanding any such reletting without termination, Landlord may at law any time thereafter elect to terminate this Lease for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant such previous default and/or exercise its rights under any of the provisions Section 7.2(b) -------------- of this Lease. (d) Enter upon the Premises and do whatever Tenant is obligated to do under the terms on this Lease; and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in effecting compliance with Tenant's obligations under this Lease plus fifteen percent (15%) of such cost to cover overhead plus interest at the Default Rate provided in this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action. No action taken by Landlord under this Section 7.2(d) shall relieve Tenant from any of its obligations under this Lease or from any consequences or liabilities arising from the failure to perform such obligations. (e) Change all door locks and other security devices of Tenant at the Premises and/or the Project, and Landlord shall not be required to provide the new key to the Tenant except during Tenant's regular business hours, and only upon the condition that Tenant has cured any and all defaults hereunder and in the case where Tenant owes Rent to the Landlord, reimbursed Landlord for all Rent and other sums due Landlord hereunder. Landlord, on terms and conditions satisfactory to Landlord in its sole discretion, may upon request from Tenant's employees, enter the Premises for the purpose of retrieving therefrom personal property of such employees, provided, Landlord shall have no obligation to do so. (f) Exercise any and all other remedies available to Landlord in this Lease, at law or in equity.

Appears in 1 contract

Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)

Landlord’s Remedies. (a) If a Default occurs, Landlord shall have the following rights and remediesremedies hereinafter set forth, which shall be distinct, separate distinct and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: : (ai) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's intention ’s election to do so, in which event event, the Term term of this Lease shall end, end and all right, title of Tenant’s rights and interest of Tenant hereunder interests shall expire, expire on the date stated in such notice; , but Tenant shall nevertheless remain liable for the payment of Rent and all other sums due, payable and/or owing by it hereunder, which obligations shall expressly survive the termination of this Lease; (bii) Landlord may terminate the Tenant’s right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's ’s right of possession shall end on the date stated specified in such notice, whereupon the right of Tenant to possession of the Premises ; or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (ciii) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or of Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys monies due or to become due for the balance of the Term from Tenant under any of the provisions of this Lease. (1) In the event that Landlord terminates this Lease or Tenant’s right to possession, Landlord shall be entitled to recover as damages for loss of the bargain and not as a penalty, Rent for the balance of the Term, plus all of Landlord’s expenses of reletting, including without limitation, repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions (collectively, the “Reletting Expenses”), discounted to net present value at an interest rate equal to two (2%) percent above the prime rate of interest charged by Chase Manhattan Bank, or its successor. (2) No termination of this Lease by Landlord as provided herein shall relieve Tenant of its liability and obligations under this Lease, and such liability and obligations shall survive any such termination. In the event of any such termination, whether or not the Premises shall have been relet, Tenant shall pay to Landlord each month the Monthly Base Rent, Rent Adjustment Deposits, and other payments required to be paid by Tenant up to the time of such termination, and thereafter Tenant, until the end of what would have been the term of this Lease in the absence of such termination, shall be liable to Landlord for, and shall pay to Landlord each month: (i) The amount of the Monthly Base Rent, Rent Adjustment Deposits, and other payments which would be payable under this Lease by Tenant if this Lease were still in effect together with any and all costs, of any kind or nature whatsoever, paid or incurred by Landlord as a result of such termination, which costs shall be payable by Tenant forthwith, less (ii) The net proceeds, if any, of any reletting, after deducting all of Landlord’s expenses in connection with such reletting, including all repossession costs, brokerage commissions, legal expenses, reasonable attorneys’ fees, alteration costs, repairs and other expenses of preparation for such reletting. Tenant shall pay such current damages (herein called the “deficiency”) to Landlord monthly on the days on which the Monthly Base Rent would have been payable under this Lease if this Lease were still in effect, and Landlord shall be entitled to recover from Tenant each monthly deficiency as the same shall arise. However, if Landlord in its sole discretion so elects, at any time after any such termination, Tenant shall pay to Landlord, within thirty (30) days of Landlord’s demand therefor, as and for liquidated and agreed final damages for Tenant’s default, an amount equal to the difference between the Rent and other payments reserved hereunder for the unexpired portion of the term of this Lease and the then fair and reasonable rental value of the Premises for the same period. If the whole or any part of the Premises be relet by Landlord for the unexpired term of this Lease or any portion thereof, before presentation of proof of such liquidated damages to any court, commission or tribunal, the amount of rent reserved upon such reletting shall be deemed the fair and reasonable rental value for the whole or part of the Premises so relet during the term of the reletting. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of such termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time, whether or not such amount be greater, equal to, or less than the amount of the differences referred to above. (c) In the event Landlord proceeds pursuant to subparagraph (a)(ii) above, Landlord may, but shall not be obligated to relet the Premises, or any part thereof for the account of Tenant, for such rent and term and upon such terms and conditions as are reasonably acceptable to Landlord. For purposes of such reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent reasonably necessary or desirable. If the Premises are relet and the consideration realized therefrom after payment of all Landlord’s Reletting Expenses, is insufficient to satisfy the payment when due of Rent reserved under this Lease for any monthly period, then Tenant shall pay Landlord upon demand any such deficiency monthly. If such consideration is greater than the amount necessary to pay the full amount of the Rent, the full amount of such excess shall be retained by Landlord and shall in no event be payable to Tenant. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. (d) In the event a Default occurs, Landlord may, at Landlord’s option, enter into the Premises, remove Tenant’s property, fixtures, furnishings, signs and other evidences of tenancy, and take and hold such property; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant’s obligation to pay the Rent reserved hereunder for the full Term or from any other obligation of Tenant under this Lease. Any and all property which may be removed from the Premises by Landlord pursuant to the authority of the Lease or law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the risk, cost and expense of Tenant, and Landlord shall in no event be responsible for the value, preservation or safekeeping thereof. Tenant shall pay Landlord, upon demand, any and all expenses incurred in such removal and all storage charges against such property so long as the same shall be in Landlord’s possession or under Landlord’s control. Any such property of Tenant not retaken from storage by Tenant within thirty (30) days after the Termination Date, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as a xxxx of sale without further payment or credit by Landlord to Tenant.

Appears in 1 contract

Samples: Office Lease (Amber Road, Inc.)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following All rights and remedies, which remedies of Landlord herein enumerated shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which none shall not operate to exclude or deprive Landlord of any other right or remedy which allowed by law. 10.1 If any voluntary or involuntary petition or similar pleading under any section or sections of any bankruptcy act shall be filed by or against Tenant, or any voluntary or involuntary proceedings in any court shall be instituted to declare Tenant insolvent or unable to pay Tenant’s debts, or Tenant makes an assignment for the benefits of its creditors, or a trustee or receiver is appointed for Tenant or for the major part of Tenant’s property, then in such event, Landlord may, if Landlord so elects and with or without notice of such election and with or without entry or other action by Landlord, forthwith terminate this Lease and, notwithstanding any other provisions of this Lease, Landlord shall forthwith upon such termination be entitled to recover damages in an amount equal to the then present value of the rent specified in Article l of this Lease for the residue of the stated term hereof. 10.2 If Tenant defaults in the prompt payment of rent and such default shall continue for five (5) or more days after the same be due and payable or in the performance or observance of any other provisions of this Lease and such other default shall continue for ten (10) or more days after notice thereof shall have been given to Tenant, or if the leasehold interest of Tenant be levied upon under execution or attached by process of law, or if Tenant abandons the leased Premises, then and in any such event, Landlord, if it so elects with or without notice or demand forthwith, or at any time thereafter while such default continues, either may have in law terminate Tenant’s right to possession without terminating this Lease or equity: (a) Landlord may terminate this Lease Lease. 10.3 Upon termination of this Lease, whether by giving lapse of time or otherwise, or upon any termination of the Tenant’s right to possession without termination of this Lease, the Tenant shall surrender possession and vacate the leased Premises immediately and deliver possession thereof to the Landlord. Nothing herein shall be construed as a waiver of Tenant’s statutory rights, and hereby grants to the Landlord full and free license to enter into and upon the leased Premises in such event with and to repossess the leased Premises and to expel or remove the Tenant and any others who may be occupying or within the leased Premises and to remove any and all property therefrom, using such force as may be necessary without being deemed in any manner guilty of trespass, eviction, forcible entry or detainer, or conversion of property, and without relinquishing the Landlord’s rights to rent or any other right given to the Landlord hereunder or by operation of law. The Tenant expressly waives the service of any demand for the payment of rent or for possession and the service of any notice of the Landlord's intention ’s election to do soterminate this Lease or to reenter the Premises, in which event the Term shall endincluding any and every form of demand and notice prescribed by any statute or other law, and all rightagrees that the simple breach of any covenant or provisions of this Lease by the Tenant shall, title of itself, without the service of any notice or demand whatsoever, constitute a forcible detainer by the Tenant of the demised Tenant covenants and interest agrees to pay to Landlord after such termination and reentry, at Landlord’s option: a) at the end of Tenant hereunder shall expireeach month of the demised term, the difference, if any, between the rent actually received by Landlord from said demised Premises during such month and the rent agreed to be paid by the terms of this Lease during such month, together with the reasonable expenses of re-letting and altering the improvements on the date stated in such notice;demised Premises, together with reasonable commissions and attorney’s fees; or (b) Landlord may terminate damages in an amount equal to the right then present value of Tenant to possession the rent specified in this Lease, as adjusted for taxes and expenses, for the residue of the stated term hereof, less the fair rental value of the Premises for the residue of the stated term. 10.4 If Tenant abandons the Premises and stops paying rent or otherwise entitles Landlord to so elect and Landlord elects to terminate the Tenant’s right to possession only without terminating the Lease, the Landlord may, at the Landlord’s option, enter into the leased Premises, remove the Tenant’s signs and other evidences of tenancy and take and hold possession thereof as in Paragraph 10.3 of this Article, provided, without such entry and possession terminating the Lease or releasing the Tenant in whole or in part from the Tenant’s obligation to pay the rent hereunder for the full term, and in any such case the Tenant shall pay forthwith to the Landlord a sum equal to the entire amount of the rent specified in Article l of this Lease by giving notice to Tenant that Tenant's right of possession shall end on for the date stated in such notice, whereupon the right of Tenant to possession residue of the stated term, plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, the Landlord will use all commercially reasonable efforts to mitigate any damages resulting from such abandonment, including but not limited to re-letting the leased Premises or any part thereof for the account of the Tenant to any person, firm or corporation other than the Tenant for such rent, for such time and upon such terms as the Landlord in the Landlord’s as is commercially reasonable and the Landlord shall cease on not be required to accept any tenant offered by the date stated in Tenant or to observe any instructions given by the Tenant about such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) re-letting. In any such case, the Landlord may enforce make repairs, alterations and additions in or to the leased Premises and redecorate the same to the extent as is reasonably necessary to bring the Premises up to the same condition as the remainder of the building and the Tenant shall, upon demand, pay the reasonable cost thereof, together with the Landlord’s expenses of the re-letting including, without limitation, any reasonable broker’s commission incurred by the Landlord. If the consideration collected by the Landlord upon any such re-letting for the Tenant’s account is not sufficient to pay the full amount of unpaid rent reserved in this Lease, together with the costs of repairs, alterations, additions, redecorating and the Landlord’s expenses, the Tenant shall pay to the Landlord the amount of each deficiency. 10.5 If Tenant materially violates any of the terms and provisions of this Lease and may enforce and protect or defaults in any of its obligations hereunder other than the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance payment of any covenant sum payable hereunder, whether the same be rent or agreement contained hereinotherwise, violation may be restrained or for the enforcement of any such obligation enforced by injunction, which remedy shall be in addition to all other appropriate legal or equitable remedy, including injunctive relief rights and recovery of all moneys due or remedies available to become due from Tenant under any of the provisions of this LeaseLandlord.

Appears in 1 contract

Samples: Lease Agreement (Trintech Group PLC)

Landlord’s Remedies. If a Default occursany one or more events of default set forth in Section 25.1 occurs then Landlord has the right, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityat its election: (a) Landlord may To give Tenant written notice of Xxxxxxxx’s intention to terminate this Lease on the earliest date permitted by giving to Tenant notice of the Landlord's intention to do solaw or on any later date specified in such notice, in which event case Tenant’s right to possession of the Premises will cease and this Lease will be terminated, except as to Tenant’s liability, as if the expiration of the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated fixed in such noticenotice were the end of the Term; (b) Landlord may terminate Without further demand or notice and except to the right of Tenant extent prohibited by law, to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to reenter and take possession of the Premises or any part thereof shall cease on of the date stated in Premises, repossess the same, expel Tenant and those claiming through or under Tenant, and remove the effects of both or either, using such notice but Tenant's obligations force for such purposes as may be necessary, without being liable for prosecution, without being deemed guilty of any manner of trespass, and without prejudice to any remedies for arrears of Monthly Base Rent or other amounts payable under this Lease shall continue in full force and effect; andor as a result of any preceding breach of covenants or conditions; (c) Without further demand or notice to cure any event of default and to charge Tenant for the cost of effecting such cure, including without limitation reasonable attorneys’ fees and interest on the amount so advanced at the rate set forth in Section 27.20, provided that Landlord will have no obligation to cure any such event of default of Tenant. Should Landlord elect to reenter as provided in subsection (b), or should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided by law, Landlord may, from time to time, without terminating this Lease, relet the Premises or any part of the Premises in Landlord’s or Tenant’s name, but for the account of Tenant, for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the Term) and on such conditions and upon such other terms (which may include concessions of free rent and alteration and repair of the Premises) as Landlord, in its reasonable discretion, may determine, and Landlord may enforce collect and receive the provisions rent. Landlord will in no way be responsible or liable for any failure to relet the Premises, or any part of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained hereinPremises, or for the enforcement of any other appropriate legal failure to collect any rent due upon such reletting. No such reentry or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any taking possession of the provisions Premises by Landlord will be construed as an election on Xxxxxxxx’s part to terminate this Lease unless a written notice of such intention is given to Tenant. No written notice from Landlord under this LeaseSection or under a forcible or unlawful entry and detainer statute or similar law will constitute an election by Xxxxxxxx to terminate this Lease unless such notice specifically so states. Landlord reserves the right following any such reentry or reletting to exercise its right to terminate this Lease by giving Tenant such written notice, in which event this Lease will terminate as specified in such notice. Notwithstanding the foregoing, Landlord shall use its reasonable efforts to relet the Premises and to otherwise mitigate damages occasioned as a result of Xxxxxx’s default. Notwithstanding the foregoing, in determining what efforts to mitigate are reasonable, Landlord shall not be held to a standard higher than the efforts employed by Tenant itself in an effort to mitigate the damages resulting from an event of default.

Appears in 1 contract

Samples: Lease (BioPlus Acquisition Corp.)

Landlord’s Remedies. If a Default occurs, Landlord shall have any one or more of the following rights and remediesremedies after the occurrence of an uncured Event of Default by Tenant. These remedies are not exclusive; they are cumulative in addition to any remedies now or later allowed by law, which shall be distinctin equity, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityotherwise: (a) Landlord may terminate 17.2.1 Terminate this Lease as to one or more or all of the Sites by giving to Tenant written notice of the Landlord's intention termination to do soTenant, in which event Tenant immediately shall surrender such Sites to Landlord. If Tenant fails to so surrender such Sites, then Landlord, without prejudice to any other remedy it has for possession of such Sites or arrearages in rent or other damages, may lawfully and peacefully re-enter and take possession of such Sites and expel or remove Tenant and any other person or entity occupying such Sites or any part thereof, without being liable for any damages. 17.2.2 No act by Landlord other than giving notice of termination to Tenant shall terminate this Lease. Acts of maintenance, efforts to relet the Premises, or the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under this Lease shall not constitute a termination of this Lease. Notwithstanding anything contained herein to the contrary, if Landlord elects to terminate this Lease as to one or more or all of the Premises, or to terminate Tenant’s right to possession of one or more or all of the Premises without terminating this Lease, or if Tenant’s right to possession to one or more or all of the Premises is otherwise terminated by operation of law, then Landlord may, to the extent not prohibited under applicable law, recover as damages from Tenant the following: (i) all applicable Base Monthly Rent and Additional Rent then due under this Lease through the date of termination; (ii) the applicable Base Monthly Rent due for the remainder of the Term shall end, in excess of the fair market rental value of the Premises for the remainder of the Term plus any and all rightAdditional Rent (each discounted by the discount rate of the Federal Reserve Bank of San Francisco plus one percent (1%)); (iii) the cost of reletting the Premises, title including the anticipated period of vacancy until the Premises can be re-let at its fair market rental value; and interest (iv) any other actual and documented out of Tenant hereunder shall expire, on the date stated in such notice; (b) pocket costs and expenses that Landlord may terminate reasonably incur in connection with the right Event of Tenant to Default. 17.2.3 Landlord may lawfully and peacefully re-enter and take possession of one or more or all of the Premises without terminating this Lease and without being liable for any damages. Landlord may relet one or more or all of the Premises, or any part of them, to third parties, but has no obligation to do so. Landlord may relet the Premises on whatever terms and conditions Landlord, in its sole discretion, deems advisable. Reletting can be for a period shorter or longer than the remaining term of this Lease. Landlord’s action under this Subsection is not Amended and Restated Master Lease - Par Petroleum - 22 Property 10978268v3 27 considered an acceptance of Tenant’s surrender of the Premises unless Landlord so notifies Tenant in writing. Tenant shall be immediately liable to Landlord for all costs Landlord incurs in reletting the Premises, including brokers’ commissions, expenses of remodeling the Premises required by giving the reletting, and like costs. Tenant shall pay to Landlord the rent due under this Lease on the dates the rent is due, less the rent Landlord receives from any reletting. If Landlord elects to relet one or more or all of the Premises without terminating this Lease, any rent received will be applied to the account of Tenant, not to exceed Tenant’s total indebtedness to Landlord; no reletting by Landlord is considered to be for its own account unless Landlord has notified Tenant in writing that this Lease has been terminated. If Landlord elects to relet one or more or all of the Premises, rent that Landlord receives from reletting will be applied to the payment of: (i) first, all costs, including maintenance, incurred by Landlord in reletting; (ii) second, any indebtedness from Tenant to Landlord other than rent due from Tenant; and (iii) third, rent due and unpaid under this Lease. After deducting the payments referred to in this Subsection, any sum remaining from the rent Landlord receives from reletting will be held by Landlord and applied in payment of future rent as rent becomes due under this Lease. If, on the date rent is due under this Lease, the rent received from the reletting is less than the rent due on that date, Tenant will pay to Landlord, in addition to the remaining rent due, all costs, including maintenance, Landlord incurred in reletting which remain after applying the rent received from the reletting. Tenant shall have no right to or interest in the rent or other consideration received by Landlord from reletting to the extent it exceeds Tenant’s total indebtedness to Landlord. 17.2.4 Lawfully and peacefully re-enter one or more or all of the Premises without terminating this Lease and without being liable for any damages, and do whatever Tenant is obligated to do under the terms of this Lease. The actual and documented out of pocket expenses incurred by Landlord in effecting compliance with Tenant’s obligations under this Lease after notice and request for payment shall become due and payable to Landlord as Additional Rent. 17.2.5 In all events, Tenant is liable for all direct damages suffered by Landlord as a result of the occurrence of an Event of Default. If Tenant fails to pay Landlord in a prompt manner for the damages suffered after Landlord has sent written notice to Tenant for payment, Landlord may pursue a monetary recovery from Tenant. Included among these damages are all expenses incurred by Landlord in repossessing the Premises (including increased insurance premiums resulting from Tenant’s vacancy), all commercially reasonable expenses incurred by Landlord in reletting the Premises (including those incurred for advertisements, brokerage fees, repairs, remodeling, and replacements), all losses incurred by Landlord as a result of Tenant’s Event of Default (including any unamortized commissions paid in connection with this Lease). In addition, Tenant shall pay all expenses incurred by Landlord (including reasonable attorney’s fees) in Amended and Restated Master Lease - Par Petroleum - 22 Property 10978268v3 28 connection with; (i) the enforcement of Landlords’ rights under this Lease in any proceeding whether formal or informal relating to or arising under this Lease, as amended, any proceedings in connection with a petition for relief under the Bankruptcy Code filed by or against Tenant and whether or not the matter is settled before a judgment or order is entered; or (ii) any assumption by Tenant or assignment of this Lease to and by any assignee of Tenant whether pursuant to the Bankruptcy Code or otherwise. 17.2.6 Pursuit of any of the foregoing remedies does not constitute an irrevocable election of remedies nor preclude pursuit of any other remedy provided elsewhere in this Lease or by applicable law, and none is exclusive of another unless so provided in this Lease or by applicable law. Likewise, forbearance by Landlord to enforce one or more of the remedies available to it on an Event of Default does not constitute a waiver of that Tenant's right default or of possession shall end on the date stated in such notice, whereupon the right to exercise that remedy later or of Tenant any rent, damages, or other amounts due to Landlord hereunder. Nothing herein shall be deemed to preclude Landlord from pursuing non-judgment collection and related activities (including skip-tracing and payment negotiations) to the extent permitted by applicable law, nor from placing derogatory information in a debtor's credit profile to the extent such information is based upon an Event of Default under this Lease and is otherwise materially accurate. 17.2.7 Whether or not Landlord elects to terminate this Lease or Tenant’s right to possession of the Premises on account of any default by Tenant, Landlord shall have all rights and remedies at law or in equity, including, but not limited to, the right to lawfully and peacefully re-enter the Premises and, to the maximum extent provided by law, Landlord shall have the right to terminate any part thereof and all subleases, licenses, concessions, or other consensual arrangements for possession entered into by Tenant and affecting the Premises or, in Landlord’s sole discretion, may succeed to Tenant’s interest in such subleases, licenses, concessions, or arrangements. In the event of Landlord’s election to succeed to Tenant’s interest in any such subleases, licenses, concessions, or arrangements, Tenant shall cease on have no further right to or interest in the rent or other consideration receivable thereunder as of the date stated in of notice by Landlord of such notice but Tenant's obligations under this Lease shall continue in full force and effectelection; and (c) provided same are used to offset any amounts due to Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Leasehereunder.

Appears in 1 contract

Samples: Master Land and Building Lease Agreement (Par Pacific Holdings, Inc.)

Landlord’s Remedies. If a Default occursUpon any one or more Events of Default, then Landlord shall at its election have the following rights and remediesright, which shall be distinctthen or at any time thereafter, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityeither: (a) To reenter and take possession of the Premises (or any part) without demand or notice, and repossess them and expel Tenant and those claiming through or under Tenant and remove the effects of both or either, using such force as may be necessary, without being liable for the prosecution thereof, or being deemed guilty of trespass and without prejudice to any remedies. Should Landlord elect to reenter as provided herein, or should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may, from time to time, without terminating this Lease, relet the Premises (or any part), either alone or in conjunction with other portions of the Building, in Landlord’s or Tenant’s name, but for the account of Tenant, for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the Lease Term) and on such conditions and upon such other terms (which may include such concessions, free rent, alterations and repair of the Premises) as Landlord, in its sole discretion, may determine, and Landlord may collect and receive the rents therefor. Landlord shall not be responsible or liable for any failure to relet the Premises, or any part thereof, or for any failure to collect any rent due upon such reletting. No reentry or taking possession of the Premises by Landlord shall be construed as an election on Landlord’s part to terminate this Lease unless written notice of such intention is given to Tenant and no notice from Landlord hereunder or under a forcible entry and detainer statute or similar law shall constitute an election by Landlord to terminate this Lease unless the notice specifically so states. Landlord reserves the right following any reentry and/or reletting to exercise its right to terminate this Lease by giving to Tenant notice of the Landlord's intention to do sosuch written notice, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on Lease will terminate as specified in the date stated in such notice;. (b) If Landlord may elects to take possession of the Premises as provided herein without terminating the Lease, Tenant shall pay to Landlord (i) the Rent and other sums which would be payable hereunder if such repossession had not occurred, less (ii) the net proceeds, if any, of any reletting of the Premises after deducting all of Landlord’s expenses incurred in connection with such reletting, including, without limitation, all repossession costs, brokerage commissions, legal expenses, attorneys’ fees, alteration, remodeling and repair costs, tenant finish costs, and expenses of preparation for such reletting. If, in connection with any reletting, the new lease term extends beyond the existing Lease Term, or the premises covered thereby include other premises not part of the Premises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith, as provided above, will be made in determining the net proceeds received from reletting within such determination, any rent concessions will be apportioned over the term of the new Lease. Tenant shall pay such amounts to Landlord monthly on the days on which the Rent and other amounts owing hereunder would have been payable if possession had not been retaken and Landlord shall be entitled to receive them from Tenant on each such day; (c) To give Tenant written notice of intention to terminate this Lease as of the date of such notice or on any later date specified therein, and on such date, Tenant’s right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on and the Lease shall terminate, except as to Tenant’s liability as provided below, as if the expiration date stated specified in such notice but Tenant's obligations under was the date otherwise fixed as the end of the Lease Term. If this Lease shall continue in full force and effect; and (c) Landlord may enforce is terminated pursuant to the provisions of this Lease Section 16.2(c), Tenant shall remain liable to Landlord for damages in an amount equal to the Rent and may enforce and protect the rights or Landlord other sums which would have been owing by Tenant hereunder by a suit or suits in equity or at law for the specific performance balance of the Lease Term had it not been terminated, less the net proceeds (if any) of any covenant or agreement contained hereinreletting of the Premises by Landlord subsequent to such termination, or after deducting all Landlord’s expenses in connection with such reletting, including, without limitation, the expenses enumerated in Section 16.2(b). Landlord shall be entitled to collect these damages from Tenant monthly on the days on which the Rent and other amounts would have been payable hereunder if this Lease had not been terminated, and Landlord shall be entitled to receive these from Tenant on each such day. Alternatively, at the option of Landlord, in the event this Lease is terminated, Landlord shall be entitled to recover forthwith against Tenant, as damages for loss of bargain and not as a penalty, an amount equal to the worth at the time of termination of the excess, if any, of the amount of Rent reserved and payable under this Lease for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any balance of the provisions Lease Term hereof over the amount of this Leaserental which Landlord can obtain as rent for the remaining balance of the term (“Reasonable Rental Value”), plus all amounts incurred by Landlord in obtaining possession of and reletting the Premises (including but not limited to attorneys’ fees, reletting expenses, alterations and repair costs, and brokerage commissions), plus all amounts for unamortized tenant finish work costs which have not yet been recovered through rental payments.

Appears in 1 contract

Samples: Lease Agreement (Texas Rare Earth Resources Corp.)

Landlord’s Remedies. If a Default occursUpon the occurrence of any event of default, Landlord shall have LANDLORD may, at LANDLORD’s sole option, exercise any or all of the following rights and remedies, which shall be distinct, separate and cumulative, and which together with any such other remedies as may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate available to exclude or deprive Landlord of any other right or remedy which Landlord may have in LANDLORD at law or in equity:; (a) Landlord LANDLORD may terminate this Lease by giving to Tenant TENANT written notice of the Landlord's intention election to do so, in which event as of a specified date not less than thirty (30) days after the Term date of the giving of such notice and this Lease shall end, and all right, title and interest of Tenant hereunder shall expire, then expire on the date stated so specified and LANDLORD shall then be entitled to immediately regain possession of the demised premises as if the date had been originally fixed as the expiration date of the term of this Lease. LANDLORD may then re-enter upon the leased premises either with or without due process of law and remove all persons therefrom, the statutory notice to quit or any other notice to quit being hereby expressly waived by TENANT. TENANT expressly agrees that the exercise by LANDLORD of the right of re-entry shall not be a bar to or prejudice in such notice;any the other legal remedies available to LANDLORD. In that event, LANDLORD shall be entitled to recover from TENANT as and for liquidated damages an amount equal to the rent and additional rent reserved in this Lease less any and all amounts received by LANDLORD from the rental of the premises to another tenant. Any recovery by the LANDLORD shall be limited to the rent hereunder (plus any costs incurred in re-letting) less any rent actually paid by the new tenant. (b) Landlord may terminate the right No termination of Tenant to this lease nor any taking or recovery of possession of the Premises without terminating this Lease by giving notice demised premises shall deprive LANDLORD of any of his remedies or actions against TENANT for past or future rent, nor shall the bringing of any action for rent or breach of covenant, or the resort to Tenant that Tenant's right any other remedy herein provided for the recovery of possession shall end on the date stated in such noticerent, whereupon be construed as a waiver of the right of Tenant to obtain possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; andpremises. (c) Landlord may enforce In addition to any damages becoming due under subparagraph (a) hereof, LANDLORD shall be entitled to recovery from TENANT and TENANT shall pay to LANDLORD an amount equal to all expenses, if any, incurred by the LANDLORD in recovering possession of the demised premises, and all reasonable costs and charges for the care of said premises while vacant, which damages shall be due and payable by TENANT to LANDLORD at such time or times as such expenses are incurred by the LANDLORD. (d) In the event of a default or threatened default by TENANT or any of the terms or conditions of this Lease, LANDLORD shall have the right of injunction and the right to invoke any remedy allowed by law or in equity as if no specific remedies of LANDLORD were set forth in this Lease. (e) It is further provided that if, under the provisions of this Lease lease, default be made and may enforce a compromise and protect the rights or Landlord hereunder by settlement shall be had thereupon, it shall not constitute a suit or suits in equity or at law for the specific performance waiver of any covenant or agreement contained hereinherein contained, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any nor of the provisions Lease itself, and it is hereby specifically agreed that this Lease shall not merge in any judgement had upon the same if compromise or settlement be made upon said judgement prior to termination of this LeaseTENANT’s possession, the lease in such event to continue by the payment of rent herein reserved, and the further performance of the covenants herein contained on the part of TENANT.

Appears in 1 contract

Samples: Lease Agreement (Novavax Inc)

Landlord’s Remedies. If a Default occursUpon occurrence of any default by Tenant under this Lease beyond any applicable notice and cure period granted to Tenant under Section 8.1 above, Landlord shall have the option to do and perform any one or more of the following (all of which rights and remedies, which remedies shall be distinct, separate and cumulative) in addition to, and which may be exercised by Landlord concurrently or consecutively not in any combination and which shall not operate to exclude or deprive Landlord of limitation of, any other remedy or right or remedy which Landlord may have in permitted it by law or equityin equity or by this Lease: (a) Landlord may terminate Continue this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall endfull force and effect, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; andeffect as long as Landlord does not terminate this Lease, and Landlord shall have the right to collect Rent, Additional Rent and other charges when due. (b) Terminate this Lease, and Landlord may forthwith repossess the Premises and be entitled to recover as damages a sum of money equal to the total of (i) the cost of recovering the Premises, (ii) the cost of removing and storing Tenant’s or any other occupant’s property, (iii) the unpaid Rent and any other sums accrued hereunder at the date of termination, (iv) accelerated Base Rent in accordance with Section 8.2(g) below, (v) the cost of restoring the Premises to the condition which Tenant is required to return the Premises at the end of the Term of this Lease, (vi) the amount of any unamortized improvements to the Premises paid for by Landlord (if any) to Tenant, (vii) the amount of any unamortized brokerage commission or other costs paid by Landlord in connection with the leasing of the Premises (if any) to Tenant, and (viii) any other sum of money or damages owed by Tenant to Landlord or incurred by Landlord as a result of such Tenant default. In the event Landlord shall elect to terminate this Lease, Landlord shall at once have all the rights of reentry upon the Premises, without becoming liable for damages, or guilty of trespass. (c) Terminate Tenant’s right of occupancy of the Premises and reenter and repossess the Premises by entry, forcible entry or detainer suit or otherwise, without demand or notice of any kind to Tenant and without terminating this Lease, without acceptance of surrender of possession of the Premises, and without becoming liable for damages or guilty of trespass, in which event Landlord may enforce may, but shall be under no obligation to, relet the provisions Premises or any part thereof for the account of Tenant (nor shall Landlord be under any obligation to relet the Premises before Landlord relets or leases any other portion of the Project or any other property under the ownership or control of Landlord) for a period equal to or lesser or greater than the remainder of the Term of the Lease on whatever terms and conditions Landlord, at Landlord’s sole discretion, deems advisable. Tenant shall be liable for and shall pay to Landlord all Rent payable by Tenant under this Lease (plus interest at the past due rate provided in Section 3.1(c) of this Lease if in arrears) plus an amount equal to (i) the cost of recovering possession of the Premises, (ii) the cost of removing and may enforce storing any of Tenant’s or any other occupant’s property left on the Premises or the Project after reentry, (iii) the cost of restoring the Premises to the condition which Tenant is required to return the Premises at the end of the Term of this Lease, (iv) the cost of any reletting or attempted reletting and protect the rights collection of the rent accruing from such reletting, (v) the cost of any brokerage fees or commissions payable by Landlord hereunder in connection with any such reletting or attempted reletting, (vi) the amount of any unamortized improvements to the Premises paid for by a suit Landlord (if any) to Tenant, (vii) the amount of any unamortized brokerage commissions or suits other costs paid by Landlord in connection with the leasing of the Premises (if any) to Tenant, and (viii) any other sum of money or damages owed by Tenant to Landlord at law, in equity or at law for hereunder or incurred by Landlord as a result of such Tenant default, all reduced by any sums actually received by Landlord through any reletting of the specific performance Premises; provided, however, that in no event shall Tenant be entitled to any excess of any covenant sums obtained by reletting over and above Rent provided in this Lease to be paid by Tenant to Landlord. Landlord may file suit to recover any sums falling due under the terms of this Section 8.2(c) from time to time, and no delivery to or agreement contained herein, or for the enforcement recovery by Landlord of any other appropriate legal or equitable remedyportion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord. No reletting shall be construed as an election on the part of Landlord to terminate this Lease unless a written notice of such intention is given to Tenant by Landlord. Notwithstanding any such reletting without termination, including injunctive relief and recovery of all moneys due or Landlord may at any time thereafter elect to become due from Tenant terminate this Lease for such previous default and/or exercise its rights under any of the provisions Section 8.2(b) of this Lease. (d) Enter upon the Premises and do whatever Tenant is obligated to do under the terms of this Lease; and Tenant agrees to reimburse Landlord within thirty (30) days of Landlord’s demand for any reasonable expenses which Landlord may actually incur in effecting compliance with Tenant’s obligations under this Lease plus ten percent (10%) of such cost to cover overhead plus interest at the past due rate provided in this Lease. No action taken by Landlord under this Section 8.2(d) shall relieve Tenant from any of its obligations under this Lease or from any consequences or liabilities arising from the failure to perform such obligations.

Appears in 1 contract

Samples: Master Lease Agreement (Texas Roadhouse, Inc.)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which (a) default shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently made in the payment of the Rent or consecutively any installment thereof or in any combination and which shall not operate to exclude or deprive Landlord the payment of any other right sum required to be paid by Tenant under this Lease, or remedy under the terms of any other agreement between Landlord and Tenant, and such default shall continue for ten (10) days after written notice to Tenant, or (b) if default shall be made in the full and prompt performance of any of the other covenants or conditions which Landlord may have in law or equity: Tenant is required to observe and perform and such default shall continue for thirty (a30) Landlord may terminate this Lease by giving days after written notice to Tenant notice or, if such default is not susceptible of cure within thirty (30) days, within such additional period as may be reasonable so long as Tenant is engaged in the Landlord's intention to do sodiligent cure thereof, in which event or (c) if the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; be levied on under execution or other legal process, or (d) if any petition shall be filed by or against Tenant to declare Tenant a bankrupt or to delay, reduce or modify Tenant’s debts or obligations, and , if filed against Tenant, is not dismissed within sixty (c60) days, or (e) if any petition shall be filed or other action taken to reorganize or modify Tenant’s capital structure, if Tenant be a corporation or other entity, or (f) if Tenant be declared insolvent according to law or if any assignment of Tenant’s property shall be made for the benefit of creditors, or (g) if a receiver or trustee is appointed for Tenant or its property, then Landlord may enforce treat the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance occurrence of any covenant one or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any more of the provisions foregoing events as a breach of this Lease., and thereupon at its option may, without notice or demand of any kind to Tenant or any other person, but subject to the duty to mitigate its damages stated below, have any one or more of the following described remedies in addition to all other rights and remedies provided at law or in equity:

Appears in 1 contract

Samples: Purchase and Sale Agreement (Sanfilippo John B & Son Inc)

Landlord’s Remedies. If a Default occursUpon occurrence of any default by Tenant under this Lease and (i) immediately, if the event of default is that described in Section 8.l(a); or (ii) if the events described in Section 8.1 (b) (to the extent no separate cure or grace period is provided to Tenant under this Lease) are not cured within fifteen (15) days after written notice from Landlord of such default, the Landlord shall have the option to do and perform any one or more of the following rights and remedies, which shall be distinct, separate and cumulativein addition to, and which may be exercised by Landlord concurrently or consecutively not in any combination and which shall not operate to exclude or deprive Landlord of limitation of, any other remedy or right or remedy which Landlord may have in permitted it by law or equityin equity by this Lease: (a) Landlord may terminate Continue this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall endfull force and effect, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; andeffect as long as Landlord does not terminate this Lease, and Landlord shall have the right to collect Rent, Additional Rent and other charges when due. Landlord may also reenter and repossess the Premises by forcible entry, detainer suit or otherwise without terminating this Lease with or without process of law without being liable for damages or trespass. (b) Terminate this Lease; (c) Landlord may enforce Enter upon the provisions of this Lease Premises and may enforce and protect do whatever Tenant is obligated to do under the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions terms of this Lease; and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in effecting compliance with Tenant's obligations under this Lease plus fifteen percent (15 %) of such cost to cover overhead plus interest at the past due rate provided in this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action. No action taken by Landlord under this Section 8.2(c) shall relieve Tenant from any of its obligations under this Lease or from any consequences or liabilities arising from the failure to perform such obligations; or (d) Exercise any and all other remedies available to Landlord in this Lease, at law or in equity.

Appears in 1 contract

Samples: Asset Purchase Agreement (Matria Healthcare Inc)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant under this Lease, Landlord shall have the following Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without additional notice or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remediesremedies provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in otherwise at law or in equity: : (a) Landlord may terminate this Lease by giving to Tenant notice and Tenant’s right of possession of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; Premises; or (b) Landlord may terminate the Tenant’s right of Tenant to possession of the Premises without terminating this Lease by giving notice Lease; provided, however, that Landlord may, whether Landlord elects to Tenant that Tenant's right of possession shall end on proceed under Subsections (a) or (b) above, relet the date stated in such noticePremises, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on for the date stated account of Tenant, for such rent and term and upon such terms and conditions as are acceptable to Landlord. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by Landlord, in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce its sole discretion. In the provisions event of the termination of this Lease by Landlord pursuant to (a) above, Landlord shall be entitled to recover from Tenant (i) all damages and may enforce and protect the rights or other sums that Landlord hereunder by a suit or suits in equity is entitled to recover under any provision of this Lease or at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and Additional Rent accrued and unpaid for the specific performance of any covenant or agreement contained hereinperiod up to and including such termination date; (ii) all other additional sums payable by Tenant, or for the enforcement which Tenant is liable, or in respect of any other appropriate legal or equitable remedywhich Tenant has agreed to indemnify Landlord, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease., that may be then owing and unpaid; (iii) all costs and expenses (including, without limitation, court costs and attorneys’ reasonable fees) incurred by Landlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, without limitation, an amount equal to the positive difference, if any, between (x) the discounted present value (at 6% per annum) of the Base Rent provided to be paid for the remainder of the Term (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the date of termination of this Lease) after deduction (from such fair market rental value) of the projected costs and expenses of reletting the Premises (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and the Premises are relet and a sufficient sum is not realized therefrom, then to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period (after payment of all Landlord’s reasonable expenses of reletting), Tenant shall pay any such deficiency monthly. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and Landlord fails to relet the Premises, then Tenant shall pay to Landlord all costs of Landlord’s expenses of reletting (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b), then Landlord shall at any time have the further right and remedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to clause (b) of this Section 22.2, to terminate Tenant’s right of possession only, without terminating this Lease, Landlord may, at Landlord’s option, enter into the Premises, remove Tenant’s Property, Tenant’s signs and other evidences of tenancy, and take and hold possession thereof, as provided in Section 20 hereof; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant’s obligation to pay the Base Rent and Additional Rent reserved hereunder for the full Term, or from any other obligation of Tenant under this Lease. Any and all property that may be removed from the Premises by Landlord pursuant to the authority of the Lease or of law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the sole risk, cost and expense of Tenant, and in no event or circumstance shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such removal and all storage charges against such

Appears in 1 contract

Samples: Industrial Building Lease (TWC Holding Corp.)

Landlord’s Remedies. If a Default occursUpon the occurrence of an Event of Default, Landlord shall have the following remedies, in addition to all other rights and remediesremedies provided by law or equity, which shall be distinctor elsewhere in this Lease, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have resort cumulatively or in law or equitythe alternative: (a) Landlord may may, at Landlord's election, terminate this Lease by giving upon the delivery of written notice of such termination to Tenant. On the delivery of such notice, all Tenant's rights in the Project, in all improvements located at the Project, to revenues thereafter arising from the Project, and to amounts which may otherwise be due from Landlord to Tenant under this Lease, shall terminate. Promptly after notice of termination, Tenant shall surrender and vacate the Landlord's intention to do so, Project in which event the Term shall enda broom clean condition, and Landlord may reenter and take possession of the Land, Improvements, FF&E, Operating Equipment and Operating Supplies and eject all right, title parties in possession or eject some and interest not others or eject none. Termination under this Subsection shall not relieve Tenant from the payment of any sum then due to Landlord or from any claim for damages previously accrued or then accruing against Tenant. Upon such termination Landlord shall also be entitled to recover from Tenant hereunder shall expire, on unpaid Rent and such other amounts which have been earned or are payable at the date stated in such notice;time of termination. (b) Landlord may may, at Landlord's election, terminate Tenant's right to possession only, without terminating the Lease. Upon termination of Tenant's right to possession without termination of the Lease, Tenant to shall surrender possession and vacate the Project immediately and deliver possession of the Premises without terminating this Lease by giving notice Land, Improvements, FF&E, Operating Equipment and Operating Supplies to Landlord, and Tenant that hereby grants to Landlord the immediate right to enter into the Project, remove Tenant's right signs and other evidences of possession shall end on the date stated in such noticetenancy, whereupon the right of Tenant to and take and hold possession of the Premises Land, Improvements, FF&E, Operating Equipment and Operating Supplies with or without process of law, and to dispossess the others who may be occupying or within the Project, without being deemed in any part thereof shall cease on manner guilty of trespass, eviction, or forcible entry or detainer, without incurring any liability for any damage resulting therefrom, without such entry and possession terminating the date stated in such notice but Lease or releasing Tenant from Tenant's obligation to pay Rent and to fulfill all other of Tenant's obligations under this Lease for the full Lease Term. Landlord shall continue in full force be entitled to recover from Tenant (i) unpaid Rent or such other amounts which have been earned or are payable at the time of termination, and effect; and(ii) such amounts as are payable pursuant to the last sentence of Section 12.2(d) below. Notwithstanding any remedial action taken hereunder by Landlord short of termination, including reletting the Project to a substitute tenant, Landlord may at any time thereafter elect to terminate this Lease for any previous Event of Default. (c) Landlord may, at Landlord's election, store Tenant's personal property, if any, for the account and at the cost of Tenant. (d) Whether or not Landlord elects to terminate the Lease, Landlord may, but shall be under no obligation to, relet all or any part of the Project for such rent and upon such terms as shall be satisfactory to Landlord (including the right to relet the Project as a part of a larger area, the right to change the character or use of the Project and the right to restrict prospective tenants to those whose merchandise and business is compatible with the nature and character of the Project or such larger area, if any). For the purpose of such reletting, Landlord may enforce decorate or may make any repairs, changes, alterations or additions in or to the provisions Project that may be necessary or convenient. If the Lease is not terminated and if the Project is not relet, or if it is relet and a sufficient sum shall not be realized from such reletting after paying all of the expenses of any such decorations, repairs, changes, alterations and additions, the expenses of such reletting and the collection of the rent accruing therefrom (including, but not limited to, reasonable attorneys' fees and brokers' commissions), to satisfy the Rent and other charges herein provided to be paid for remainder of the term of this Lease Lease, Tenant shall pay to Landlord promptly any deficiency, and Tenant agrees that Landlord may enforce file suit to recover and protect recover any sum falling due under the rights terms of this Subsection from time to time. (e) Landlord may, at Landlord's election, withdraw any or Landlord hereunder all amounts on deposit pursuant to Sections 3.3(d), 3.7 and 9.6 hereof and apply such amounts to Tenant's obligations hereunder. (f) The term "Rent" as used in this Section 12.2 shall be deemed to be and to mean Base Rent, Additional Rent and such other sums, if any, required to be paid by a suit or suits in equity or at law for Tenant pursuant to the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Amerihost Properties Inc)

Landlord’s Remedies. If a Upon the occurrence of any Event of Default occursby Tenant and at any time thereafter, Landlord may (from time to time), but shall have not be required to, exercise any one or more of the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by in addition to any others now or hereafter available to Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in at law or in equity:, without such exercise being deemed (a) an acceptance of surrender of the Premises, (b) a discharge of Tenant from liability hereunder, or (c) a termination of this Lease (which only may occur by Landlord's giving the notice referred to in Subsection 20.2(e) below): (a) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, Re-enter and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of repossess the Premises or any part thereof by all lawful means, and dispossess and remove Tenant and all other Persons and property from the Premises, without liability therefor or for any loss or damage occurring in connection therewith and without being deemed guilty of trespass and without prejudice to any remedies which otherwise may be available to Landlord. In no event shall cease any re-entry be deemed an acceptance of surrender of the Premises and/or this Lease or construed as an election on Landlord's part to terminate this Lease (which only may occur by Landlord's giving the date stated notice referred to in Subsection 20.2(e) below); nor shall it absolve or discharge Tenant from liability under this Lease. Notwithstanding any such notice but Tenantre-entry, or reletting pursuant to Subsection 20.2(b) below, Landlord may, at any time thereafter, elect to terminate this Lease for any previous or any future Event of Default. (b) Attempt to re-let the Premises or any part thereof in the name of Landlord, Tenant or otherwise, for such term or terms (which may be greater or less that the period, which would otherwise have constituted the balance of the Term) and on such conditions (which may include concessions or free rent) as Landlord, in its sole and absolute discretion, may determine, and collect and receive the rent therefor. In no event, however, shall Landlord be under any obligation to re-let the Premises or any part thereof, except that Landlord shall make reasonable efforts to do so and to mitigate its damages, and, subject to the foregoing, Landlord shall in no way be responsible or liable for any failure to re-let or for any failure to collect any rent due upon any such re-letting. Landlord, at Landlord's obligations option, may make such renovations and repairs and other physical changes in and to the Premises as Landlord, in its sole and absolute discretion, considers advisable or necessary in connection with any such re-letting or proposed re-letting, without relieving Tenant of any liability under this Lease or otherwise affecting any such liability. In no event shall continue in full force and effect; andTenant be entitled to receive any proceeds of any re-letting, even if they exceed the sums payable by Tenant hereunder. (c) Bring suit to recover possession of the Premises and/or to collect all Rent and other sums and charges payable by Tenant hereunder and/or to specifically enforce any provision hereof and/or to seek damages. (d) Collect, by suit or otherwise, each installment of Rent (together with other sums payable by Tenant hereunder) as they became due, and/or any deficiency (the "Deficiency") between the Rent and the net proceeds of any re-letting of the Premises (after first deducting from any re-letting proceeds all of Landlord's expenses in connection with such re­ entry and/or re-letting, including, without limitation, all repossession costs, brokerage and management commissions, operating expenses, reasonable attorneys' fees and disbursements, alteration costs and other expenses of preparing the Premises for such re-letting). In any proceeding to enforce its rights and remedies under this Lease, Landlord shall be entitled to collect all costs and expenses incurred by Landlord, including, without limitation, attorneys' fees and experts' fees. Landlord shall be entitled to recover all such amounts monthly or as the same shall arise and no suit to collect such amounts for any period shall prejudice Landlord's right to collect such amounts for any prior or subsequent period by a similar proceeding. Alternatively, Landlord shall have the right to accumulate such amounts and xxx to recover the same from time to time as Landlord may enforce determine. Except as expressly set forth herein, in no event shall Tenant be entitled to a credit in respect of any proceeds from any re-letting and then only to the provisions of extent that such proceeds are actually received by Landlord. (e) Landlord may enter upon the Premises and take such action, incur such expenses and employ such counsel as may be necessary or desirable therefor, all without waiving or curing Tenant's default in failing to do the same. (f) Even if Landlord has previously exercised one or more other rights, Landlord may thereafter elect to exercise all other rights enumerated above or otherwise available under this Lease and or applicable law, and/or Landlord may enforce and protect give Notice to Tenant stating that this Lease shall terminate on the rights or Landlord hereunder by a suit or suits date specified in equity or at law such Notice, in which event Tenant shall remain liable for the specific performance of damages as provided in this Subsection 20.2(f). Upon any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions termination of this Lease, Tenant shall immediately quit and peaceably surrender the Premises to Landlord in the condition required by Section 20.1 above. If Tenant remains in possession or occupancy after termination of this Lease, it shall become a holdover tenant under a tenancy at sufferance. At any time after termination of this Lease, Landlord shall be entitled to recover an amount equal to the sum of (i) all amounts due Landlord hereunder through the termination, together with interest thereon at the lesser of highest lawful rate of interest and 6% per annum, plus (ii) the then present worth (computed on the basis of applying a discount rate of 6% per annum) of the amount by which the Rent during what would have been the balance of the Term exceeds the amount of such rental loss that Tenant proves reasonably could have been avoided, plus (iii) any other sums necessary to compensate Landlord for all of the damages proximately caused by Tenant's failure to perform its obligations hereunder. For the purposes of this Subsection 20.2(e), Additional Rent for each remaining Lease Year during what would have been the balance of the Term shall be deemed to be the amount of Additional Rent payable by Tenant for the most recent twelve full calendar months immediately preceding the termination (or, if there have not been twelve full calendar months following the Rent Commencement Date, for the number of full calendar months since the Rent Commencement Date projected over a twelve month period), prorated for any partial Lease Year. Upon any termination of this Lease, Landlord shall be entitled to retain all monies, if any, previously paid by Tenant as rental advances, security or otherwise, but such monies shall be credited by Landlord against any Rent or other damages to which Landlord is entitled hereunder.

Appears in 1 contract

Samples: Commercial Lease (Neogenomics Inc)

Landlord’s Remedies. If a any one or more Events of Default occursset forth in Paragraph 29.1 occurs then Landlord has the right, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityat its election: (a) Landlord may To terminate this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event Tenant shall immediately surrender possession of the Term shall endPremises to Landlord, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice;or (b) Landlord may terminate the right of Tenant to possession of the Premises Without terminating this Lease, and without terminating this Lease by giving notice Tenant's liability for payment of Rent or any other obligation hereunder, to Tenant that terminate Tenant's right of possession shall end on to occupy and possess the date stated in such notice, whereupon the right of Tenant to Premises by reentering and taking possession of the Premises or any part thereof shall cease on of the date stated in Premises, repossess the same, expel Tenant and those claiming through or under Tenant, and remove the effects of both or either, using such notice but Tenant's obligations force for such purposes as many be necessary, without being liable for prosecution, without being deemed guilty of any manner of trespass, and without prejudice to any remedies for arrears of Rent or other amounts payable under this Lease shall continue in full force and effector as a result of any preceding breach of covenants or conditions; andor (c) Without further demand or notice to cure any Event of Default and to charge Tenant for the cost of effecting, such cure, including, without limitation, reasonable attorneys' fees and interest on the amount so advanced at the rate set forth in Paragraph 31, provided that Landlord may enforce will have no obligation to cure any such Event of Default of Tenant. No such reentry or taking possession of the provisions of Premises by Landlord, pursuant to this paragraph 29.2, will be construed as an election on Landlord's part to terminate this Lease unless a written notice of such intention in given to Tenant. No written notice from Landlord under this Paragraph 29.2 or under a forcible or unlawful entry and may enforce and protect the rights detainer statute or similar law will constitute an election by Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of terminate this LeaseLease unless such notice specifically so states.

Appears in 1 contract

Samples: Lease Agreement (Cfi Mortgage Inc)

Landlord’s Remedies. If a Default occurs(a) Upon the occurrence of any of the events of default in Section 16 (a) of this Lease, Landlord shall have the option to pursue any one of the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (ai) Landlord may terminate may, at its sole election, give Tenant notice that the term of this Lease by giving shall terminate upon the date described in such notice. (ii) Upon any termination of this Lease, Tenant shall surrender possession and vacate the Unit immediately and deliver possession thereof to Tenant notice of the Landlord's intention ; and Tenant upon any such termination grants the Landlord full and free right to do soenter into the Unit as of Landlord’s former estate and to expel or remove Tenant and any others who may be occupying or within being deemed in any manner guilty of trespass and without incurring any liability for damage resulting therefrom, in which event the Term Tenant hereby waiving any right given to Landlord hereunder or by operation of law; (iii) Upon any termination of this Lease, Landlord shall endbe entitled to recover as damages, all rent, including any amounts treated as additional rent hereunder, and all right, title other sums due and interest of payable by Tenant hereunder shall expire, on the date stated in of termination, plus the sum of (a) an amount equal to the then present value of the rent, including any amounts treated as additional rents hereunder, and other sums provided herein to be paid by Tenant for the residue of the term hereof, less the fair rental value of the Unit for such notice;residue, as provided by law, (taking into account the time and reasonable expense necessary to obtain replacement tenant or tenants), and (b) the cost of performing any other covenants which would have otherwise been performed by Tenant. (b) In addition, Landlord may terminate shall have all remedies available under Maine law including the right remedy of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force forcible entry and effect; anddetainer. (c) Tenant further convenants and agrees that if Landlord may enforce shall remove Tenant’s property, pursuant to the provisions terms hereof or of any Court order, Landlord shall not be liable or responsible for any loss or damage to Tenant’s property unless a court or competent jurisdiction shall determine that the Landlord has acted negligently and the Landlord’s act of so removing such property shall be deemed to be the act of and for the account of Tenants, provided however, that if the Landlord removes the Tenant’s property, Landlord shall comply with all applicable laws and shall exercise due care in the handling of such property. (d) In the event it shall be become necessary for Landlord or Tenant to bring suit in order to collect moneys due under this Lease and may or to enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any provision fo this Lease on the part of the provisions of this Leaseother to be performed, the prevailing party shall be entitled to collect reasonable legal fees, costs and disbursements from the other party in connectin with the aforesaid enforcement proceedings.

Appears in 1 contract

Samples: Residential Lease Agreement

Landlord’s Remedies. If a Default occursUpon any one or more Events of Default, then Landlord shall at its election have the following rights and remediesright, which shall be distinctthen or at any time thereafter, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equityeither: (a) To reenter and take possession of the Premises (or any part) without demand or notice, and repossess them and expel Tenant and those claiming through or under Tenant and remove the effects of both or either, using such force as may be necessary, without being liable for the prosecution thereof, or being deemed guilty of trespass and without prejudice to any remedies. Should Landlord elect to reenter as provided herein, or should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may, from time to time, without terminating this Lease, relet the Premises (or any part), either alone or in conjunction with other portions of the Building, in Landlord’s or Tenant’s name, but for the account of Tenant, for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the Lease Term) and on such conditions and upon such other terms (which may include such concessions, free rent, alterations and repair of the Premises) as Landlord, in its sole discretion, may determine, and Landlord may collect and receive the rents therefor. Landlord shall not be responsible or liable for any failure to relet the Premises, or any part thereof, or for any failure to collect any rent due upon such reletting. No reentry or taking possession of the Premises by Landlord shall be construed as an election on Landlord’s part to terminate this Lease unless written notice of such intention is given to Tenant and no notice from Landlord hereunder or under a forcible entry and detainer statute or similar law shall constitute an election by Landlord to terminate this Lease unless the notice specifically so states. Landlord reserves the right following any reentry and/or reletting to exercise its right to terminate this Lease by giving to Tenant notice of the Landlord's intention to do sosuch written notice, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on Lease will terminate as specified in the date stated in such notice;. (b) If Landlord may elects to take possession of the Premises as provided herein without terminating the Lease, Tenant shall pay to Landlord (i) the Rent and other sums which would be payable hereunder if such repossession had not occurred, less (ii) the net proceeds, if any, of any reletting of the Premises after deducting all of Landlord’s expenses incurred in connection with such reletting, including, without limitation, all repossession costs, brokerage commissions, legal expenses, reasonable attorneys’ fees, alteration, remodeling and repair costs, tenant finish costs, and expenses of preparation for such reletting. If, in connection with any reletting, the new lease term extends beyond the existing Lease Term, or the premises covered thereby include other premises not part of the Premises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith, as provided above, will be made in determining the net proceeds received from reletting within such determination, any rent concessions will be apportioned over the term of the new Lease. Tenant shall pay such amounts to Landlord monthly on the days on which the Rent and other amounts owing hereunder would have been payable if possession had not been retaken and Landlord shall be entitled to receive them from Tenant on each such day; (c) To give Tenant written notice of intention to terminate this Lease as of the date of such notice or on any later date specified therein, and on such date, Tenant’s right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on and the Lease shall terminate, except as to Tenant’s liability as provided below, as if the expiration date stated specified in such notice but Tenant's obligations under was the date otherwise fixed as the end of the Lease Term. If this Lease shall continue in full force and effect; and (c) Landlord may enforce is terminated pursuant to the provisions of this Lease Section 16.2(c), Tenant shall remain liable to Landlord for damages in an amount equal to the Rent and may enforce and protect the rights or Landlord other sums which would have been owing by Tenant hereunder by a suit or suits in equity or at law for the specific performance balance of the Lease Term had it not been terminated, less the net proceeds (if any) of any covenant or agreement contained hereinreletting of the Premises by Landlord subsequent to such termination, or after deducting all Landlord’s expenses in connection with such reletting, including, without limitation, the expenses enumerated in Section 16.2(b). Landlord shall be entitled to collect these damages from Tenant monthly on the days on which the Rent and other amounts would have been payable hereunder if this Lease had not been terminated, and Landlord shall be entitled to receive these from Tenant on each such day. Alternatively, at the option of Landlord, in the event this Lease is terminated, Landlord shall be entitled to recover forthwith against Tenant, as damages for loss of bargain and not as a penalty, an amount equal to the worth at the time of termination of the excess, if any, of the amount of Rent reserved and payable under this Lease for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any balance of the provisions Lease Term hereof over the amount of this Leaserental which Landlord could obtain as rent for the remaining balance of the term (“Reasonable Rental Value”), plus all amounts incurred by Landlord in obtaining possession of and reletting the Premises (including but not limited to reasonable attorneys’ fees, reletting expenses, alterations and repair costs, and brokerage commissions), plus all amounts for unamortized Tenant Finish Work costs which have not yet been recovered through rental payments.

Appears in 1 contract

Samples: Lease Agreement (Smart Move, Inc.)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant under this Lease, Landlord shall have the following Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21), but without additional notice or demand from Landlord, if any, as provided in Section 21 has expired, may, in addition to all other rights and remediesremedies provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in otherwise at law or in equity: : (a) Landlord may terminate this Lease by giving to Tenant notice and Tenant’s right of possession of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; Premises: or (b) Landlord may terminate the Tenant’s right of Tenant to possession of the Premises without terminating this Lease by giving notice Lease: provided, however, that Landlord may, whether Landlord elects to Tenant that Tenant's right of possession shall end on proceed under Subsections (a) or (b) above, relet the date stated in such noticePremises, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on for the date stated account of Tenant, for such rent and term and upon such terms and conditions as are acceptable to Landlord. In addition, for purposes of any reletting. Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by Landlord, in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce its sole discretion. In the provisions event of the termination of this Lease by Landlord pursuant to (a) above, Landlord shall be entitled to recover from Tenant (i) all damages and may enforce and protect the rights or other sums that Landlord hereunder by a suit or suits in equity is entitled to recover under any provision of this Lease or at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and Additional Rent accrued and unpaid for the specific performance of any covenant or agreement contained hereinperiod up to and including such termination date; (ii) all other additional sums payable by Tenant, or for the enforcement which Tenant is liable, or in respect of any other appropriate legal or equitable remedywhich Tenant has agreed to indemnify Landlord, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease., that may be then owing and unpaid: (iii) all costs and expenses (including, without limitation, court costs and attorneys’ reasonable fees) incurred by Landlord in the enforcement of its rights and remedies under this Lease: and (iv) any damages provable by Landlord as a matter of law including, without limitation, an amount equal to the positive difference, if any, between (x) the discounted present value (at six percent (6%) per annum) of the Base Rent provided to be paid for the remainder of the Term (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the date of termination of this Lease) after deduction (from such fair market rental value) of the projected costs and expenses of reletting the Premises (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and the Premises are relet and a sufficient sum is not realized therefrom, then to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period (after payment of all Landlord’s reasonable expenses of reletting), Tenant shall, in Landlord’s sole judgment, either (i) pay any such deficiency monthly or (ii) pay such deficiency on an accelerated basis, which accelerated deficiency shall be discounted at a rate of six percent (6%) per annum. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and Landlord fails to relet the Premises, then Tenant shall pay to Landlord the sum (x) the projected costs of Landlord’s expenses of reletting (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord and (y) the accelerated amount of Base Rent and Additional Rent due under the Lease for the balance of the Term, discounted to present value at a rate of six percent (6%) per annum. Tenant agrees that Landlord may file suit lo recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b). then Landlord shall at any time have the further right and remedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to clause (b) of this Section 22.2. to terminate Tenant’s right of possession only, without terminating this Lease, Landlord may, at Landlord’s option, enter into the Premises, remove Tenant’s Property, Tenant’s signs and other evidences of tenancy, and take and hold possession thereof, as provided in Section 20 hereof: and restore the Premises to the condition required hereunder, provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant’s obligation to pay the Base Rent and Additional Rent reserved hereunder for the full Term, or from any other obligation of Tenant under this

Appears in 1 contract

Samples: Industrial Building Lease (Sed International Holdings Inc)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following All rights and remedies, which remedies given to Landlord shall be distinct, separate and separate, cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which none shall not operate to exclude or deprive Landlord of any other right or remedy allowed by law. If Tenant defaults on payment of rent (including any additional rental payment hereunder), and Tenant does not cure the default within ten (10) days after written demand for payment of such rent, or if Tenant defaults in the prompt and full performance of any other provisions of this lease, and Tenant does not cure the default within thirty (30) days after written demand by Landlord that the default be cured (unless the default includes a hazardous condition, which shall be cured forthwith), Landlord may have gives Tenant notice to vacate on or before at least fourteen (14) days after the giving of such notice, or if Tenant shall be adjudicated bankrupt, insolvent, or make any assignment for the benefit of creditors, or a trustee or receiver is appointed for Tenant or any part of Tenant's property, or if the leasehold interest of the Tenant be levied upon under execution or be attached by process of law, or if Tenant abandons the premises, then and in law any such event Landlord may, if Landlord so elects, but not otherwise, with or equity: (a) Landlord may without notice or demand, elect to terminate this Lease by giving to Tenant notice of the Landlordlease and Tenant's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises premises, or, without terminating this Lease by giving notice lease, to Tenant that forthwith terminate Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on premises and in either case the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce re-enter the provisions of this Lease premises, remove Tenant and its property and repossess the premises and may enforce relet the same after making such repairs and protect doing such remodeling as Landlord deems reasonable to relet the rights premises. Tenant is not released of liability for rent (including any additional rent payment hereunder) or damages because the Landlord hereunder by a suit repossesses the premises or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of pursues any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys remedy available to it. Landlord shall apply the money derived from reletting to the rent due or to become due from Tenant under any on this lease and to the cost of repairing, remodeling, showing and advertising of the provisions premises for the purpose of reletting, including commissions incurred by Landlord in connection with such reletting and attorneys fees and other expenses incurred by Landlord in connection with enforcing this Leaselease, and the Tenant shall remain liable for any deficiency and agrees to pay the same. Landlord, in the event of such repossession may at the end of the calendar month during the remaining term demand, be entitled to receive and sue for, the monthly rent together with all expenses xxcurred in attempting to relet if the premises are not relet, and if relet, the deficiency resulting monthly from such reletting. Landlord's right to bring action shall be multiple and several. Action brought to recover the amount due for any month shall not prejudice or bar Landlord from subsequent actions to recover the amount due for any subsequent month.

Appears in 1 contract

Samples: Assignment of Lease (Plastics MFG Co)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Upon the occurrence of an Event of Default and after the lapse of any applicable period of cure, Landlord may terminate may, immediately or at any time thereafter (notwithstanding any license or waiver of any former breach or waiver of the benefit hereof, or consent in a former instance), and without demand or notice (except as otherwise expressly required by this Lease or required by giving to Tenant notice of the Landlord's intention to do soapplicable law), in which event the Term shall endperson or by agent or attorney, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of enter the Premises or any part thereof shall cease on and repossess the date stated same as of its former estate, or terminate this Lease by written notice to Tenant, and in such either event expel Tenant and those claiming through or under it and remove their effects (forcibly, if necessary) without being deemed guilty of any manner of trespass and without prejudice to any remedy which might otherwise be used for arrears of Base Rent or Additional Rent or breach of covenant, and upon entry or written notice but Tenant's obligations under of termination, or automatic termination, both as aforesaid, this Lease shall continue terminate and Landlord, in full force addition to all other remedies which it may have at law or equity, and effect; andnot in limitation thereof, shall have the remedies provided in this Article XII. (cb) If this Lease shall be terminated as provided in Section 12.2(a), Tenant shall forthwith pay to Landlord as damages, in addition to all sums which were due prior to the date of such termination, a sum equal to the amount by which the Base Rent and Additional Rent for the remainder of the Lease Term exceeds the fair rental value of the Premises for the remainder of the Lease Term, and in addition thereto will further indemnify Landlord during the remainder of said Lease Term against all loss and damage suffered by reason of such termination, however caused, first deducting any damages paid as provided above, the loss and damage, if any, for each month during the remainder of the Lease Term to be paid at the beginning of each month. For the purposes of computing damages payable pursuant to this Section 12.2, it is agreed that there shall be payable to Landlord as part of such damages at the time of such termination the product of the Additional Rent due with respect to Taxes, Insurance Costs and Allocated Shared Operating Costs for the most recently ended fiscal, calendar or lease year, as the case may be, times the number of years remaining of the Lease Term, it being assumed that the amount of such Additional Rent payments so payable for the most recently ended fiscal, calendar year or lease year would have remained constant for each subsequent year of the Lease Term. Tenant also (i) will indemnify and save Landlord harmless from and against all expenses which Landlord may enforce incur, including, without limitation, legal expenses, attorneys' fees, brokerage fees, and the provisions cost of this putting the Premises in good order or preparing the same for rental; and (ii) agrees that Landlord may re-let the Premises or any part or parts thereof, either in the name of Landlord or otherwise for a term or terms which may, at Landlord's option, be less than or exceed the period which would otherwise have constituted the balance of the Lease Term and may enforce and protect grant concessions or free rent. The good faith failure of Landlord to re-let the rights Premises or any part or parts thereof, or, if the Premises are re-let, for the good faith failure to collect the rents due under such re-letting, shall not release or affect Tenant's liability for damage so long as Landlord hereunder does not act arbitrarily or capriciously. However, Landlord agrees to take commercially reasonable steps to attempt to re-let the Premises to mitigate damages. Any suit brought to collect the amount of deficiency for any month or other period shall not prejudice in any way the right of Landlord to collect the deficiency for any subsequent month or period by a suit or suits similar proceeding. Landlord, at Landlord's option, may make such alterations, repairs, replacements and decorations on the Premises as Landlord in equity or at law Landlord's sole judgment considers advisable and necessary for the specific performance purpose of any covenant re-letting the Premises, and the making of such alterations or agreement contained herein, decorations shall not operate or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or be construed to become due release Tenant from Tenant under any of the provisions of this Leaseliability hereunder.

Appears in 1 contract

Samples: Lease Agreement (Idenix Pharmaceuticals Inc)

Landlord’s Remedies. If a Default occursUpon the occurrence of any event of default, Landlord shall have may, at Landlord’s sole option, exercise any or all of the following rights and remedies, which shall be distinct, separate and cumulative, and which together with any such other remedies as may be exercised by available to Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in at law or in equity:. (a) Landlord may terminate this Lease by giving to Tenant written notice of the Landlord's intention its election to do so, in which event as of a specified date not less than thirty (30) days after the Term date of the giving of such notice and this Lease shall end, and all right, title and interest of Tenant hereunder shall expire, then expire on the date stated so specified, and Landlord shall then be entitled to immediately regain possession of the Premises as if the date had been originally fixed as the expiration date of the term of this Lease. Landlord may then re-enter upon the Premises, either with or without due process of law (after providing twenty-four (24) hours prior notice), and remove all persons therefrom, the statutory notice to quit or any other notice to quit being hereby expressly waived by Tenant. Tenant expressly agrees that the exercise by Landlord of the right of re-entry shall not be a bar to or prejudice in any way other legal remedies available to Landlord. In that event, Landlord shall, at its option, be entitled to recover from Tenant as and for liquidated damages an amount equal to the rent and additional rent reserved in this Lease less any and all amounts received by Landlord from the rental of the Premises to another tenant. Nothing herein contained, however, shall limit or prejudice the right of Landlord to prove for and obtain an award for damages, by reason of such notice;termination, of an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which such damages are to be proved, whether or not such amount may be greater, equal to, or less than the amount of the difference referred to above, and the Landlord may, in his own name, but as agent for Tenant, re-let the Premises. Any recovery by the Landlord shall be limited to the rent hereunder (plus any costs incurred in re-letting) less any rent actually paid by the new tenant. (b) Landlord may terminate the right No termination of Tenant to this Lease or any taking of possession of the Premises without terminating this Lease by giving notice shall deprive Landlord of any of its remedies or actions against Tenant for past or future rent, nor shall the bringing of any action for rent or breach of covenant, or the resort to Tenant that Tenant's right any other remedy herein provided for the recovery of possession shall end on the date stated in such noticerent, whereupon be construed as a waiver of the right of Tenant to obtain possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; andPremises. (c) In addition to any damages becoming due under this paragraph, Landlord may enforce shall be entitled to recover from Tenant and Tenant shall pay to Landlord an amount equal to all expenses, including reasonable attorneys’ fees, if any, incurred by the provisions Landlord in recovering possession of the Premises, and all reasonable costs and charges for the care of said Premises while vacant, which damages shall be due and payable by Tenant to Landlord at such time or times as such expenses are incurred by the Landlord. (d) In the event of a default or threatened default by Tenant of any of the terms or conditions of this Lease Lease, Landlord shall have the right of injunction and may enforce and protect the rights right to invoke any remedy allowed by law or Landlord hereunder by a suit or suits in equity or at law for the as if no specific performance remedies of Landlord were set forth in this Lease. (e) If a Tenant default be made and a compromise and settlement shall be had thereupon, it shall not constitute a waiver of any covenant or agreement contained hereinherein contained, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any nor of the provisions of this LeaseLease itself.

Appears in 1 contract

Samples: Lease Agreement (Macrogenics Inc)

Landlord’s Remedies. If a (a) Upon the occurrence of an Event of Default occursas defined in Paragraph 26 above, Landlord shall have the following rights option to do and remediesperform any one or more of the following, which shall be distinct, separate and cumulativein addition to, and which may be exercised by Landlord concurrently or consecutively not in any combination and which shall not operate to exclude or deprive Landlord of limitation of, any other remedy or right permitted or allowed by law or in equity or by the provisions of this Lease: (i) terminate this Lease, in which event Tenant shall immediately surrender possession of the Premises to Landlord and, if Tenant fails to so surrender possession of the Premises, Landlord shall have the right, without prejudice to any other remedy which Landlord may have for possession or arrearages in law or equity: (a) Landlord may terminate this Lease by giving Rent, to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, enter upon and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to take possession of the Premises without terminating this Lease by giving notice to and expel or remove Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of and any other person who may be occupying the Premises or any part thereof shall cease thereof, with or without process of law and by force if necessary, without being liable for prosecution or any claim of damages therefore and upon such termination recover from Tenant liquidated damages calculated as hereinafter provided in subparagraph 27(b); (ii) without terminating this Lease, enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, with or without process of law and by force if necessary, without being liable for prosecution of any claim for damages therefore and, if Landlord so elects, relet the Premises on such terms as Landlord deems advisable and receive the date stated rent therefore, Tenant hereby agreeing to pay to Landlord on demand any deficiency that may arise by reason of such reletting plus the costs of such reletting; (iii) enter the Premises, by force if necessary, without terminating this Lease or being liable for prosecution or for any claim of damages therefore, and do whatever Tenant is obligated to do under the terms of this Lease, and Tenant agrees to reimburse Landlord on demand for any and all expenses, including, without limitation, all attorneys' fees and court costs which Landlord may incur in such notice but thus effecting compliance with Tenant's obligations under this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant for such action, whether caused by the negligence of Landlord or otherwise; or (iv) without terminating this Lease, declare immediately due and payable the present value (calculated using a reasonable discount rate) of all Base Rent and Additional Rent due and coming due under this Lease for the entire remaining Term (as if by the terms of this Lease they were payable in advance), together with the cost of recovering and reletting the Premises (including, without limitation, attorney's fees and expenses) and all other expenses incurred by Landlord in connection with the Premises as of the date this provision is invoked by Landlord, plus interest thereon, and Landlord may immediately proceed to distrain, collect, or bring action for such sum, or may file a proof of claim in any bankruptcy or insolvency proceedings to enforce payment thereof, provided, however, that such payment shall continue not be deemed a penalty or liquidated damages, but shall merely constitute payment in full force advance of all Rent payable hereunder throughout the term, and effectprovided further, however, that upon receiving such payment, Tenant shall be entitled either to remain in possession of the Premises (subject to the performance of all other covenants, duties and obligations hereunder) or to receive from Landlord all rents received by Landlord from other assignees, tenants and subtenants on account of said Premises during the remainder of the Term (provided that the monies to which Tenant shall so become entitled shall in no event exceed the entire amount actually paid by Tenant to Landlord pursuant to this item (iv)), less all costs, expenses and attorney's fees of Landlord incurred in connection with the reletting of the Premises. (b) If this Lease is terminated by Landlord as a result of the occurrence of an Event of Default, Landlord shall have the right, at Landlord's election, to recover from Tenant all damages incurred by reason of such Tenant's default including, without limitation, a sum equal to (1) the then present value (calculated using a reasonable discount rate) of the excess, if any, of the total Base Rent and Additional Rent and all other sums which would have been payable hereunder by Tenant for the period commencing with the day following the date of such termination and ending with the scheduled expiration date of the Term, minus the aggregate reasonable rental value of the Premises for the same period (reasonably determined by Landlord as set forth below), plus (2) the costs of recovering the Premises and all other reasonable expenses incurred by Landlord due to Tenant's default, including, without limitation, attorneys' fees and expenses, plus (3) the unpaid Base Rent and Additional Rent or any other sums due by Tenant under this Lease as of the date of such termination, with interest thereon. In determining the aggregate reasonable rental value pursuant to item (1) above, the parties hereby agree that the following factors shall be considered by Landlord as of the time Landlord seeks to enforce such remedy: (A) the length of time remaining in the Term; and(B) the then current market conditions in the general area in which the Building is located; and (C) the rental rates then being obtained for space of similar type and size in similar type buildings in the general area in which the Building is located. Tenant agrees to pay the aforesaid amounts at once at the address of Landlord set forth in the preamble on page 1 of this Lease; provided, however, that such payment shall not constitute a penalty or forfeiture but shall constitute liquidated damages for Tenant's failure to comply with the terms and provision of this Lease (Landlord and Tenant agreeing that Landlord's actual damages in such event would be impossible to ascertain and that the amount set forth above is a reasonable estimate thereof). (c) Pursuit by Landlord of any of the foregoing remedies shall not preclude pursuit of any other remedy herein provided or any other remedy provided by law or in equity, nor shall pursuit by Landlord of any remedy herein provided constitute: (i) an election of remedies thereby excluding the later election of an alternate remedy, (ii) forfeiture or waiver of any Base Rent, Additional Rent or other rentals, charges or assessments payable by Tenant to Landlord hereunder, or (iii) forfeiture or waiver of any damages accruing to Landlord by reason of the violation of any of the terms, covenants, warranties and provisions herein contained. No action taken by or on behalf of Landlord shall be construed to be an acceptance or a surrender of this Lease. The forbearance of Landlord to enforce one or more of the remedies herein provided upon an Event of Default shall not be deemed or construed to constitute a waiver of such default. No waiver of any breach of the covenants, warranties, agreements, provisions or conditions contained in this Lease shall be construed as a waiver of said covenant, warranty, provision, agreement or condition or of any subsequent breach thereof. In determining the amount of loss or damage which Landlord may enforce the provisions suffer by reason of termination of this Lease and may enforce and protect or the rights or Landlord hereunder deficiency arising by a suit or suits in equity or at law for the specific performance reason of any covenant reletting of the Premises by Landlord as above provided, allowance shall be made for all expenses of repossession and any repairs or agreement contained herein, or for remodeling undertaken by Landlord following repossession. Tenant hereby agrees to pay to Landlord all costs and expenses incurred by Landlord in the enforcement of any other appropriate legal or equitable remedythis Lease, including injunctive relief including, without limitation, all fees and recovery expenses of all moneys attorneys employed by Landlord to effect collection of any sums due hereunder or to become enforce any right or remedy of Landlord. (d) If during the Term a Trustee is appointed for Tenant in any proceeding arising under Title 11 of the United States Code Relating to Bankruptcy, as amended, such Trustee shall have the right to assume Tenant's right and obligations under this Lease only if the Trustee: (i) promptly (no later than sixty (60) days following the filing of any motion or application to assume Tenant's obligation under this Lease) cures or provides adequate assurance that the Trustee will promptly cure any default under this Lease; (ii) compensates or provides adequate assurance that the Trustee will promptly compensate Landlord for any actual pecuniary loss (including, without limitation, rental and all other sums due from Tenant Tenant, and all resulting attorney's fees and costs incurred in connection with Tenant's bankruptcy proceedings) incurred by Landlord as a result of Tenant's default under this Lease; and (iii) provides adequate assurance of future performances under this Lease by the proposed assignee. Adequate assurance of future performance by the proposed assignee shall include, at a minimum, that: (a) any of the provisions proposed assignee of this Lease shall deliver to Landlord a security deposit in an amount equal to at least three (3) months' Base Rent accruing under this Lease and (b) any proposed assignee shall provide to Landlord a current and accurate financial statement, the proposed assignee to have a net worth equal to at least one year's Base Rent accruing under this Lease, or, in the alternative, the proposed assignee shall provide a guarantor of such proposed assignee's obligations under this Lease, which guarantor shall provide Landlord with an audited financial statement meeting the requirements of (b) hereinabove and shall execute and deliver to Landlord a guaranty agreement in form and substance acceptable to Landlord.

Appears in 1 contract

Samples: Lease Agreement (American Recreational Enterprises Inc)

Landlord’s Remedies. If a Default occurs, Landlord shall have the following All rights and remedies, which remedies of the Landlord herein enumerated shall be distinct, separate cumulative and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which none shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity:allowed by law. (a) If the Tenant defaults in the payment of Rent, and the Tenant does not cure the default within five (5) days after demand for payment of such Rent or if the Tenant defaults in the prompt and full performance of any other provisions of this Lease, and the Tenant does not cure the default within twenty (20) days after written demand by the Landlord may that the default be cured (unless the default involves a hazardous condition, which shall be cured forthwith) or if the leasehold interest of the Tenant be levied upon under execution or be attached by process of law, or if the Tenant makes an assignment for the benefit of creditors or admits its inability to pay its debts generally, or if a receiver be appointed for any property of the Tenant, or if the Tenant abandons the Premises, then, and in any such event, the Landlord may, if the Landlord so elects but not otherwise, and with or without notice of such election, and with or without any demand whatsoever, either forthwith terminate this Lease by giving to Tenant notice of and the LandlordTenant's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises or, without terminating this Lease by giving notice to Tenant that Lease, forthwith terminate the Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises. (b) Upon termination of this Lease, whether by lapse of time or otherwise, or upon any termination of the Tenant's right to possession without termination of the Lease, the Tenant shall surrender possession and vacate the Premises immediately, and deliver possession thereof to the Landlord, and hereby grants to the Landlord full and free license to enter into and upon the Premises in such event with process of law and to repossess the Landlord of the Premises as of the Landlord's former estate and to expel or remove the Tenant and any others who may be occupying or be within the Premises and to remove any and all property therefrom, using such force as may be necessary, without being deemed in any manner guilty of trespass, eviction or forcible entry or detainer, and without relinquishing the Landlord's rights to Rent or any other right given to the Landlord hereunder or by operation of law. (c) If the Landlord elects to terminate the Tenant's right to possession only, without terminating the Lease, the Landlord may, at the Landlord's option, enter into the Premises, remove the Tenant's sign and other evidences of tenancy, and take and hold possession thereof as in subparagraph (b) of this Paragraph, without such entry and possession terminating the Lease or releasing the Tenant, in whole or in part, from the Tenant's obligation to pay the Rent hereunder for the full Term, and in any such case the Tenant shall pay forthwith to the Landlord, if the Landlord so elects, a sum equal to the entire amount of the Rent for the remainder of the Term plus any other sums then due hereunder. Upon and after entry into possession without termination of the Lease, the Landlord may, but need not, relet the Premises or any part thereof for the account of the Tenant to any person, firm or corporation other than the Tenant for such rent, for such time and upon such terms as the Landlord in the Landlord's sole discretion shall cease on determine, and the date stated Landlord shall not be required to accept any tenant offered by the Tenant or to observe any instructions given by the Tenant about such reletting. In any such case, the Landlord may make repairs, alterations additions in or to the Premises and redecorate the same to the extent deemed by the Landlord necessary or desirable, and the Tenant shall, upon demand, pay the cost thereof, together with the Landlord's expenses of the reletting. If the consideration collected by the Landlord upon any such reletting for the Tenant's account is not sufficient to pay monthly the full amount of the Rent reserved in this Lease, together with the cost of repairs, alterations, additions, redecorating and the Landlord's expenses, the Tenant shall pay to the Landlord the amount of each monthly deficiency upon demand. (d) If any involuntary action or proceeding under any section or sections of any bankruptcy act in any court or tribunal shall adjudge or declare Tenant insolvent or unable to pay Tenant's debts, or if any voluntary petition or similar proceeding under any section or sections of any bankruptcy act shall be filed by Tenant in any court or tribunal to declare Tenant insolvent or unable to pay Tenant's debts, then and in any such event Landlord may, if Landlord so elects but not otherwise, and with or without notice of such election, and with or without entry or other action by Landlord, forthwith terminate this Lease, and notwithstanding any other provision of this Lease, Landlord shall forthwith upon such termination be entitled to recover damages in an amount equal to the then present value of the Rent for the remainder of the Term, less the fair rental value of the Premises for the remainder of the Term. (e) Any and all property which may be removed from the Premises by the Landlord pursuant to the authority of the Lease or of law, to which the Tenant is or may be entitled, may be handled, removed or stored by the Landlord at the risk, cost and expense of the Tenant, and the Landlord shall in no event be responsible for the value, preservation or safekeeping thereof. The Tenant shall pay to the Landlord, upon demand, any and all expenses incurred in such notice but removal and all storage charges against such property so long as the same shall be to the Landlord's possession or under the Landlord's control. Any such property of the Tenant not retaken from storage by the Tenant within thirty (30) days after the end of the Term, however terminated, shall be conclusively presumed to have been conveyed by the Tenant to the Landlord under this Lease as a bill xx sale without further payment or credit by the Landlord to the Tenant. (f) Tenant hereby grants to Landlord a first lien upon the interest of Tenant under this Lease to secure the payment of moneys due under this Lease, which lien may be enforced in equity, and Landlord shall be entitled as a matter of right to have a receiver appointed to take possession of the Premises and relet the same under order of court. (g) The Tenant shall pay upon demand all the Landlord's reasonable costs, charges and expenses, including the fees of counsel, agents and others retained by the Landlord, incurred in enforcing the Tenant's obligations under this Lease shall continue hereunder or incurred by the Landlord in full force and effect; and (c) Landlord may enforce any litigation, negotiation or transaction in which the provisions of this Lease and may enforce and protect Tenant causes the rights or Landlord hereunder by a suit or suits in equity or at law for Landlord, without the specific performance of any covenant or agreement contained hereinLandlord's fault, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Leaseinvolved or concerned.

Appears in 1 contract

Samples: Lease Amendment Agreement (Mobius Management Systems Inc)

Landlord’s Remedies. If a Default occursUpon the occurrence of any event of default, Landlord shall have LANDLORD may, at LANDLORD's sole option, exercise any or all of the following rights and remedies, which shall be distinct, separate and cumulative, and which together with any such other remedies as may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate available to exclude or deprive Landlord of any other right or remedy which Landlord may have in LANDLORD at law or in equity: (a) Landlord LANDLORD may terminate this Lease by giving to Tenant TENANT written notice of the Landlord's intention its election to do so, in which event as of a specified date not less than thirty (30) days after the Term date of the giving of such notice and this Lease shall end, and all right, title and interest of Tenant hereunder shall expire, then expire on the date stated so specified and LANDLORD shall then be entitled to immediately regain possession of the demised Premises as if the date had been originally fixed as the expiration date of the term of this Lease. LANDLORD may then re-enter upon the leased Premises with due process of law and remove all persons therefrom. TENANT expressly agrees that the exercise by LANDLORD of the right or re-entry shall not be a bar to or prejudice in such notice;any way the other legal remedies available to LANDLORD. In that event, LANDLORD shall be entitled to recover from TENANT as and for liquidated damages an amount equal to the rent and additional rent reserved in this Lease less any and all amounts received by LANDLORD from the rental of the Premises to another tenant. Nothing herein (b) Landlord may terminate the right No termination of Tenant to this Lease nor any taking or recovery of possession of the demised Premises without terminating this Lease by giving notice shall deprive LANDLORD of any of his remedies or actions against TENANT for past or future rent, nor shall the bringing of any action for rent or breach of covenant, or the resort to Tenant that Tenant's right any other remedy herein provided for the recovery of possession shall end on the date stated in such noticerent, whereupon be construed as a waiver of the right of Tenant to obtain possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; andPremises. (c) Landlord may enforce In addition to any damages becoming due under subparagraph (a) hereof, LANDLORD shall be entitled to recover from TENANT and TENANT shall pay to LANDLORD an amount equal to all expenses, if any, incurred by the LANDLORD in recovering possession of the demised Premises, and all reasonable costs and charges for the care of said Premises while vacant, which damages shall be due and payable by TENANT to LANDLORD at such time or times as such expenses are incurred by the LANDLORD. (d) In the event of a default or threatened default by TENANT of any of the terms or conditions of this Lease, LANDLORD shall have the right of injunction and the right to invoke any remedy allowed by law or in equity as if no specific remedies of LANDLORD were set forth in this Lease. (e) It is further provided that if, under the provisions of this Lease lease, default be made and may enforce a compromise and protect the rights or Landlord hereunder by settlement shall be had thereupon, it shall not constitute a suit or suits in equity or at law for the specific performance waiver of any covenant or agreement contained hereinherein contained, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any nor of the provisions Lease itself; and it is hereby specifically agreed that this Lease shall not merge in any judgment prior to termination of this LeaseTenant's possession, the lease in such event to continue by the payment of rent herein reserved, and the further performance of the covenants herein contained on the part of TENANT.

Appears in 1 contract

Samples: Lease Agreement (Bioreliance Corp)

Landlord’s Remedies. If (a) In the event of any Uncured Default, then, subject to the rights of a Default occursLender expressly set forth in this Lease, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate immediate option to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate this Lease and all rights of Tenant hereunder by giving to Tenant written notice of the Landlord's intention to do sosuch termination, in which event the Term Parties shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice;have no further obligation to one another under this Lease. (b) Notwithstanding the provisions of this Article 14 above to the contrary, if, within ten (10) days of Tenant's receipt of a Notice of Default with respect to a Non-monetary Default by Tenant, Tenant shall in good faith notify Landlord in writing that it disputes the existence of such Non-monetary Default and that it requests a determination of the existence or non-existence of such Non-monetary Default, then Landlord may not exercise its right to terminate the right this Lease pursuant to this Article 14 on account of such Non-monetary Default of Tenant to possession until the expiration of the Premises without terminating this Lease applicable cure period measured as if such cure period commenced upon the earlier of (i) the date of the determination that such Non-monetary Default exists, or (ii) the failure by giving notice Tenant to Tenant that diligently and continuously pursue the legal proceeding. The exercise of Tenant's right pursuant to this paragraph shall not impair or delay the ability of possession shall end on the date stated in such notice, whereupon the right Landlord to exercise any rights or remedies other than termination of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; andLease. (c) In the event Tenant fails to pay Rent to Landlord, Landlord may enforce shall have the provisions right to pursue all of this Lease its legal and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law equitable remedies against Tenant for the specific performance collection of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedysuch amounts, including injunctive relief without limitation the remedy described in California Civil Code Section 1951.4 which provides that a lessor may continue a lease in effect after lessee's breach and recovery of all moneys due abandonment and recover rent as it becomes due, if the lessee has the right to sublet or assign, subject only to become due from reasonable limitations. (d) Tenant under any of the provisions of this Lease.hereby acknowledges that late payment by Tenant to Landlord of

Appears in 1 contract

Samples: Ground Sublease (Minimed Inc)

Landlord’s Remedies. If a Default occursIn the event of any default by Tenant under this Lease, Landlord shall have the following Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without additional notice or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remediesremedies provided in this Lease, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in otherwise at law or in equity: : (a) Landlord may terminate this Lease by giving to Tenant notice and Tenant’s right of possession of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; Premises; or (b) Landlord may terminate the Tenant’s right of Tenant to possession of the Premises without terminating this Lease by giving notice Lease; provided, however, that Landlord may, whether Landlord elects to Tenant that Tenant's right of possession shall end on proceed under Subsections (a) or (b) above, relet the date stated in such noticePremises, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on for the date stated account of Tenant, for such rent and term and upon such terms and conditions as are acceptable to Landlord. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by Landlord, in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce its reasonable discretion. In the provisions event of the termination of this Lease by Landlord pursuant to (a) above, Landlord shall be entitled to recover from Tenant (i) all damages and may enforce and protect the rights or other sums that Landlord hereunder by a suit or suits in equity is entitled to recover under any provision of this Lease or at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and Additional Rent accrued and unpaid for the specific performance of any covenant or agreement contained hereinperiod up to and including such termination date; (ii) all other additional sums payable by Tenant, or for the enforcement which Tenant is liable, or in respect of any other appropriate legal or equitable remedywhich Tenant has agreed to indemnify Landlord, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease, that may be then owing and unpaid; (iii) all costs and expenses (including, without limitation, court costs and attorneys’ reasonable fees) incurred by Landlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, without limitation, an amount equal to the positive difference, if any, between (x) the Rent provided to be paid for the remainder of the Term (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Premises (determined at the date of termination of this Lease) after deduction (from such fair market rental value) of the projected costs and expenses of reletting the Premises (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and the Premises are relet and a sufficient sum is not realized therefrom, then to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period (after payment of all Landlord’s reasonable expenses of reletting), Tenant shall, in Landlord’s sole judgment, either (i) pay any such deficiency monthly or (ii) pay such deficiency on an accelerated basis, which accelerated deficiency shall be discounted at a rate equal to the Federal Reserve discount rate in effect on the date of Landlord’s demand. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and Landlord fails to relet the Premises, then Tenant shall pay to Landlord the sum of (x) the projected costs of Landlord’s expenses of reletting (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord and (y) the accelerated amount of Base Rent and Additional Rent due under the Lease for the balance of the Term, discounted to present value at a rate equal to the Federal Reserve discount rate in effect on the date of Landlord’s demand. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b), then Landlord shall at any time have the further right and remedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to subsection (b) of this Section 22.2, to terminate Tenant’s right of possession only, without terminating this Lease, Landlord may, at Landlord’s option, enter into the Premises, remove Tenant’s Property, Tenant’s signs and other evidences of tenancy, and take and hold possession thereof, as provided in Section 20 hereof; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant’s obligation to pay the Base Rent and Additional Rent reserved hereunder for the full Term, or from any other obligation of Tenant under this Lease. Any and all property that may be removed from the Premises by Landlord pursuant to the authority of the Lease or of law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the sole risk, cost and expense of Tenant, and in no event or circumstance shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such removal and all storage charges against such property so long as the same shall be in Landlord’s possession or under Landlord’s control. Any such property of Tenant not retaken from storage by Tenant within 30 days after the end of the Term, however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as in a xxxx of sale, without further payment or credit by Landlord to Tenant.

Appears in 1 contract

Samples: Industrial Building Lease (Datalink Corp)

Landlord’s Remedies. If Tenant fails to cure a Default occursdefault, or in the event of a default which is not capable of being cured by Tenant, Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively remedies in any combination and which shall not operate addition to exclude or deprive Landlord of any other right or remedy which rights and remedies available to Landlord may have in at law or in equity: (a) Landlord may terminate this Lease shall have all rights and remedies provided by giving to Tenant notice California Civil Code Section 1951.2 (or any successor statute), including but not limited to, recovery of the Landlord's intention to do so, in worth at the time of award of the amount by which event the unpaid rent for the balance of the Term shall endafter the time of award exceeds the amount of rental loss for the same period that Tenant proves could be reasonably avoided, and all right, title and interest as computed pursuant to subsection (b) of Tenant hereunder shall expire, on the date stated in such noticesaid Section 1951.2; (b) Landlord may terminate shall have rights and remedies provided by California Civil Code Section 1951,4 (or any successor statute), which allows Landlord to continue this Lease in effect and to enforce all of its rights and remedies under this Lease, including the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenantrecover rent as it becomes due, for so long as Landlord does not terminate Xxxxxx's right to possession. Acts of possession shall end on maintenance or preservation, efforts to relet the date stated in such noticePremises, whereupon or the right appointment of Tenant a receiver upon the Landlord's initiative to possession of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations protect its interest under this Lease shall continue in full force and effectnot constitute a termination of Tenant's right to possession; and (c) Landlord shall have the right, but not the obligation, to make any payment or perform any act on Tenant's part as may enforce the provisions of this Lease be required to cure Tenant's default, without waiving its rights based upon such default by Tenant and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due without releasing Tenant from Tenant under any of its obligations. All sums so paid and all costs incurred by Landlord, together with interest thereon at the provisions Overdue Rate from the date of this Leasesuch payment or the incurrence of such cost by Landlord, whichever occurs first, shall be paid to Landlord on demand.

Appears in 1 contract

Samples: Office Lease Agreement (Siebel Systems Inc)

Landlord’s Remedies. (i) If a Default occursTenant shall default beyond any notice and cure periods in the payment when due of any installment of Rent or in the payment when due of any additional rent, or if any execution or attachment shall be issued against Tenant or any of Tenant’s property whereupon the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, or if this Lease and the Term shall expire and come to an end as provided in Article 17: (i) Landlord and its agents and servants may immediately, or at any time after such default or after the date upon which this Lease and the Term shall expire and come to an end, re-enter the Premises or any part thereof, either by summary proceedings, or by any other applicable action or proceeding, (without being liable to indictment, prosecution or damages therefor), and may repossess the Premises and dispossess Tenant and any other persons from the Premises and remove any and all of their property and effects from the Premises; and (ii) Landlord, at Landlord’s option, may relet the whole or any part or parts of the Premises from time to time, either in the name of Landlord or otherwise, to such tenant or tenants, for such term or terms ending before, on or after the Expiration Date, at such rental or rentals and upon such other conditions, which may include concessions and free rent periods, as Landlord, in its sole discretion, may determine. Landlord shall have the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate no obligation to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's intention to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of relet the Premises or any part thereof and shall cease on in no event be liable for refusal or failure to relet the date stated Premises or any part thereof, or, in the event of any such notice but Tenant's obligations reletting, for refusal or failure to collect any rent due upon any such reletting, and no such refusal or failure shall operate to relieve Tenant of any liability under this Lease or otherwise to affect any such liability; Landlord, at Landlord’s option, may make such repairs, replacements, alterations, additions, improvements, decorations and other physical changes in and to the Premises as Landlord, in its sole discretion, considers advisable or necessary in connection with any such reletting or proposed reletting, without relieving Tenant of any liability under this Lease or otherwise affecting any such liability. (iii) Tenant hereby waives the service of any notice of intention to re-enter or to institute legal proceedings to that end which may otherwise be required to be given under any present or future law. Tenant, on its own behalf and on behalf of all persons claiming through or under Tenant, including all creditors, does further hereby waive any and all rights which Tenant and all such persons might otherwise have under any present or future law to redeem the Premises, or to re-enter or repossess the Premises, or to restore the operation of this Lease, after (a) Tenant shall continue in full force and effect; and have been dispossessed by a judgment or by warrant of any court or judge, or (b) any re-entry by Landlord, or (c) Landlord may enforce the provisions any expiration or termination of this Lease and may enforce and protect the rights Term, whether such dispossess, re-entry, expiration or Landlord hereunder termination shall be by a suit operation of law or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or pursuant to become due from Tenant under any of the provisions of this Lease. The words “re-enter”, “re-entry” and “re-entered” as used in this Lease shall not be deemed to be restricted to their technical legal meanings. In the event of a breach or threatened breach by Tenant, or any persons claiming through or under Tenant, of any term, covenant or condition of this Lease on Tenant’s part to be observed or performed, Landlord shall have the right to enjoin such breach and the right to invoke any other remedy allowed by law or in equity as if re-entry, summary proceedings and other special remedies were not provided in this Lease for such breach. The right to invoke the remedies hereinbefore set forth are cumulative and shall not preclude Landlord from invoking any other remedy allowed at law or in equity.

Appears in 1 contract

Samples: Lease Agreement (Yodle Inc)

Landlord’s Remedies. If a Default occurs(a) Upon the occurrence of any Event of Default, Landlord shall have the following rights may, at its option and remedieswithout further notice to Tenant and without judicial process, which shall be distinct, separate and cumulative, and which may be exercised in addition to all other remedies given hereunder or by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: , do any 1 or more of the following: (ai) Landlord may terminate this Lease by giving to Tenant notice of the Landlord's intention to do soLease, in which event Tenant will immediately surrender possession of the Term shall endPremises to Landlord; (ii) enter upon and take possession of the Premises and expel or remove Tenant therefrom, with or without having terminated this Lease; (iii) apply all or any portion of the Security Deposit to cure such Event of Default; (iv) change or re-key all locks to entrances to the Premises, and all rightLandlord will have no obligation to give Tenant a new key to the Premises until such Event of Default is cured; and (v) remove from the Premises any furniture, title fixtures, equipment or other personal property of Tenant, without liability for trespass or conversion, and interest store such items either in the Complex or elsewhere at the sole cost of Tenant hereunder shall expireand without liability to Tenant subject to he provisions of Sections 11.2 and 11.4. Landlord may retain control over all such property for the purpose of foreclosing the security interest created by Section 11.2. Any of such furniture, on fixtures, equipment or personal property not claimed within 30 days from the date stated in such notice;of removal will be deemed abandoned. (b) Exercise by Landlord of any one or more remedies hereunder will not constitute forfeiture or an acceptance of surrender of the Premises by Tenant. Such surrender can be effected only by the written agreement of Landlord and Tenant. (c) If Landlord terminates this Lease by reason of an Event of Default, Tenant must pay to Landlord the sum of (i) the cost of recovering the Premises (including attorney's fees and costs), (ii) the unpaid Rent and all other indebtedness accrued hereunder to the date of such termination, (iii) the amounts stated in Section 12.2(e), (iv) the total Rent which Landlord would have received under this Lease for the remainder of the Lease Term minus the Fair Market Rental Value (hereinafter defined) of the Premises for the same period, both discounted to present value at the Prime Rate (hereinafter defined) in effect upon the date of determination, and (v) any other damages or relief which Landlord may terminate be entitled to at law or in equity. For the right purposes of Tenant this section, "Fair Market Rental Value" will be the rental rate that would be received from a comparable tenant for a comparable lease for premises and other properties of equivalent quality, size, condition and location as the Premises, taking into account any free rent or other concessions that are generally prevailing in the marketplace at the time of Tenant's default, market conditions and the period of time the Premises may reasonably be expected to possession remain vacant before Landlord is able to re-let the Premises to a suitable new tenant. For purposes of this section, "Prime Rate" will mean the per annum rate of interest announced or published from time to time by Bank of America, N.A., Dallas, Texas (or its successors or assigns) as its prime commercial lending rate. (d) If Landlord repossesses the Premises without terminating this Lease by giving notice Lease, then Tenant must pay to Tenant that TenantLandlord the sum of (i) the cost of recovering the Premises (including attorney's right of possession shall end on fees and costs), (ii) the unpaid Rent and other indebtedness accrued to the date stated of such repossession, and (iii) the total Rent that Landlord would have received under this Lease for the remainder of the Lease Term minus any net sums thereafter received by Landlord through reletting the Premises during said period after deducting expenses incurred by Landlord in connection with such noticereletting for advertising costs, whereupon brokerage commissions, architectural fees, tenant improvement costs and allowances and any other allowances or concessions provided by Landlord (amortized pro rata over the right term of such new lease). Re-entry by Landlord will not affect the obligations of Tenant for the unexpired Lease Term. Tenant will not be entitled to possession any excess of rent obtained by reletting over the Rent required to be paid by Tenant hereunder. Actions to collect amounts due by Tenant may be brought 1 or more times, without the necessity of Landlord's waiting until the expiration of the Lease Term. In addition, Landlord may, at any time following repossession of the Premises or any part thereof shall cease on without termination of the Lease, elect to terminate the Lease and pursue the remedies available to Landlord pursuant to Section 12.2(c) above in lieu of the remedies available to Landlord pursuant to this Section 12.2(d). (e) If Landlord has terminated this Lease pursuant to Section 12.2(c), Tenant must also pay to Landlord the unamortized portion (assuming level amortization at 12% interest over the Lease Term), calculated as of the date stated in such notice but Tenant's obligations under of termination, of all leasing commissions, tenant improvement costs and allowances, architectural costs and allowances, any other allowances provided by Landlord and all other out-of-pocket costs of Landlord related to this Lease shall continue in full force and effect; andLease. (cf) Landlord may enforce the provisions Upon termination of this Lease or repossession of the Premises due to the occurrence of an Event of Default, Landlord will not be obligated to relet or attempt to relet the Premises. (g) If Tenant fails to make any payment, perform any obligation, or cure any default hereunder within 10 days after receipt of written notice thereof, Landlord, without obligation to do so and without thereby waiving such failure or default, may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law make such payment, perform such obligation, and/or remedy such other default for the specific performance account of any covenant or agreement contained hereinTenant (and enter the Premises for such purpose). Tenant must pay all costs, or for expenses and disbursements (including attorneys' fees) incurred by Landlord in taking such remedial action, plus, at the enforcement option of any other appropriate legal or equitable remedyLandlord, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of interest thereon at the provisions of this LeaseDefault Rate.

Appears in 1 contract

Samples: Lease Agreement (OxySure Systems Inc)

Landlord’s Remedies. (1) If a Default occurs, Landlord shall have the following rights and remediesremedies hereinafter set forth, which shall be distinct, separate distinct and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: : (a) Landlord may terminate this Lease by giving to Tenant no less than a five (5) day notice of the Landlord's intention election to do so, in which event event, the Term of this Lease shall end, end and all right, title of Tenant's rights and interest of Tenant hereunder interests shall expire, expire on the date stated in such notice; ; (b) Landlord may terminate the Tenant's right of Tenant to possession of the Premises without terminating this Lease by giving notice to Tenant that Tenant's right of possession shall end on the date stated specified in such notice, whereupon the right of Tenant to possession of the Premises ; or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or of the Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys monies due or to become due for the balance of the Term from Tenant under any of the provisions of this Lease. Landlord agrees that any right of distraint which it has with respect to Tenant's property within the Premises shall be exercised in accordance with Illinois law, shall be exercised only with respect to property located within the Premises and any Storage Space subject to this Lease and not to property at any other location and shall not, in any event, apply to Tenant's client files, client records or other client work product. (2) In the event that Landlord terminates the Lease, Landlord shall be entitled to recover as damages for loss of the bargain and not as a penalty, the present value (utilizing a discount rate equal to four percent (4%) less than the Default Rate) of Rent for the balance of the Term, plus all Landlord's reasonable and necessary expenses of reletting, including without limitation, repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions (collectively, the "Reletting Expenses"), less the present value (utilizing a discount rate equal to four percent (4%) less than the Default Rate) of Monthly Base Rent and Rent Adjustments at the then Prevailing Market as defined in Section 6(c)(ii) of the Rider reasonably projected to be received from a new tenant for the Premises for the balance of the Term commencing twelve (12) months after such termination (such twelve (12)-month period being the agreed upon presumed "down time" during which it is deemed that Landlord will prepare the Premises and market it and will not be receiving rent). Notwithstanding the foregoing, Tenant shall never be entitled to a payment from Landlord pursuant to the preceding sentence. (3) In the event Landlord proceeds pursuant to subparagraph (l)(b) above, Landlord shall use reasonable efforts to relet the Premises, or any part thereof for the account of Tenant, for such rent and term and upon such terms and conditions as are reasonably acceptable to Landlord in accordance with Illinois law regarding a landlord's duty to mitigate its damages. For purposes of such reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent reasonably necessary. If the Premises are relet and the consideration realized therefrom after payment of all Landlord's Reletting Expenses, is insufficient to satisfy the payment when due of Rent reserved under this Lease for any monthly period, then Tenant shall pay Landlord upon demand any such deficiency monthly. If such consideration is greater than the amount necessary to pay the full amount of the Rent, the full amount of such excess shall be retained by Landlord and shall in no event be payable to Tenant, but shall apply to future Rent obligations of Tenant until such obligations are paid in full; any excess thereafter shall be retained by Landlord for its own account. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. (4) In the event a Default occurs, Landlord may, at Landlord's option and in accordance with applicable Law, enter into the Premises, remove Tenant's property, fixtures, furnishings, signs and other evidences of tenancy, and take and hold such property; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant's obligation to pay the Rent reserved hereunder for the full Term or from any other obligation of Tenant under this Lease. Any and all property which may be removed from the Premises by Landlord pursuant to the authority of the Lease or Law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the risk, cost and expense of Tenant, and Landlord shall in no event be responsible for the value, preservation or safekeeping thereof. Tenant shall pay Landlord, upon demand, any and all reasonable expenses incurred in such removal and all storage charges against such property so long as the same shall be in the Landlord's possession or under the Landlord's control. Any such property of Tenant not retaken from storage by Tenant within thirty (30) days after the Termination Date, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as a xxxx of sale without further payment or credit by Landlord to Tenant but the aforesaid shall not apply to Tenant's client files, client records or client work product which shall remain Tenant's property.

Appears in 1 contract

Samples: Lease (FSP 303 East Wacker Drive Corp.)

Landlord’s Remedies. If 14.1 Landlord may treat, at its option, any one or more of the Events of Default as a Default occurs, breach of this Lease and thereupon by serving written notice to Tenant Landlord shall have have, in addition to all other remedies provided by law, one or more of the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: (a) 14.2 Landlord may terminate this Lease Tenant’s right of possession and may repossess the Leased Land by giving forcible entry and detainer suit or otherwise, without demand or notice of any kind to Tenant (except for such notice of the Landlord's intention expressly provided for in this Lease) and without terminating this Lease, in which event Landlord may, but shall be under no obligation to do so, relet all or any part of such Leased Land for such rent and upon such terms as shall be satisfactory to Landlord. If the Leased Land is not relet, or if the Leased Land is relet and a sufficient sum shall not be realized from such reletting after paying all of the costs and expenses of such reletting and the collection of the rent accruing therefrom, to satisfy the rent above provided to be paid, then Tenant shall pay to Landlord as damages a sum equal to the then value as discounted of the rent reserved in which this Lease for such period or periods, or, if the Leased Land has been relet, Tenant shall satisfy and pay any such deficiency upon demand therefore from time to time; and Landlord may file suit to recover any sums falling due under the terms of this Paragraph 14.2 from time to time. Any suit or recovery of any portion less than the entire amount due Landlord hereunder shall be no defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. 14.3 In the event of any breach or threatened breach by Tenant of any of the Term terms, covenants, agreements, provisions or conditions contained in this Lease, Landlord shall endbe entitled to enjoin such breach or threatened breach and shall have the right to invoke any right and remedy allowed at law or in equity or by statute or otherwise as though re-entry, summary proceedings, and all right, title and interest other remedies were not provided for in this Lease. 14.4 Upon the termination of Tenant hereunder shall expire, on this Lease due to an Event of Default which is not remedied or upon the date stated in such notice; (b) Landlord may terminate the termination of Tenant’s right of possession due to a default, Tenant to will at once surrender possession of the Premises Leased Land to Landlord and remove all effects therefrom and may remove all Buildings in accordance with Paragraph 1.2 hereof; and if such possession is not immediately surrendered, Landlord may forthwith re-enter the Leased Land and repossess itself thereof as of its former estate and remove all persons and their effects, using such force as may be necessary without terminating this Lease by giving notice being deemed guilty of any manner of trespass or forcible entry or detainer. 14.5 Tenant covenants and agrees that if it shall fail to pay any taxes or other governmental impositions, or fail to obtain and maintain in effect the insurance herein required or fails to make any other payment or fulfill any other covenant herein contained Landlord may, but shall not be obligated to, make such payment or fulfill such covenant and upon demand Tenant that Tenant's right shall reimburse Landlord for all sums so expended together with interest at the rate of possession eight percent (8%) per annum. 14.6 Notwithstanding the grace periods during defaults set forth in Article XIII, interest shall end accrue on any late payment from the date stated in such notice, whereupon due at the right rate of eight percent (8%) per annum until paid. 14.7 If Tenant to possession holds over after the exemption of the Premises or any part thereof shall cease on the date stated in such notice but Tenant's obligations under this Lease shall continue in full force and effect; and (c) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any of the provisions term of this Lease, Tenant shall be deemed to be tenant from month to month and the rental payable by Tenant during the period of holding over shall be $2,759.00 per month.

Appears in 1 contract

Samples: Lease Agreement (Midwest Banc Holdings Inc)

Landlord’s Remedies. If a any one or more Event of Default occursshall happen, then Landlord shall have the following rights right at Landlord's election then or at any time thereafter, but provided Landlord has not thereafter accepted Tenant's cure, either: (i) Without demand or notice, to reenter and remediestake possession of the Leased Premises or any part thereof and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove the effects of both or either, without being deemed guilty of any manner of trespass and without prejudice to 40 56 any remedies for arrears of rent or preceding breach of covenants or conditions. Should Landlord elect to reenter, as provided in this subparagraph (1), or should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may, from time to time, without terminating this Lease, relet the Leased Premises or any part thereof, either alone or in conjunction with other portions of the Building of which shall be distinctthe Leased Premises are a part, separate and cumulativein Landlord's or Tenant's name but for the account of Tenant, and for such term or terms (which may be exercised greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such commercially reasonable conditions and upon such other terms (which may include concessions of free rent and alteration and repair of the Leased Premises) as Landlord, in its discretion, may determine and Landlord may collect and receive the rents therefor. Landlord shall in no way be responsible or liable for any failure to relet the Leased Premises, or any part thereof, or for any failure to collect any rent due upon such reletting. No such reentry or taking possession of the Leased Premises by Landlord concurrently shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of such intention be given to Tenant. No notice from Landlord hereunder or consecutively in under a forcible entry and detainer statute or similar law shall constitute an election by Landlord to terminate this Lease unless such notice specifically so states. Landlord reserves the right following any combination and which shall not operate such reentry and/or reletting to exclude or deprive Landlord of any other exercise its right or remedy which Landlord may have in law or equity: (a) Landlord may to terminate this Lease by giving to Tenant notice of the Landlord's intention to do sosuch written notice, in which event the Term Lease will terminate as specified in said notice. (ii) If Landlord elects to take possession of the Leased Premises as provided in this subparagraph (1) without terminating the Lease, Tenant shall endpay to Landlord (a) the rent and other sums as herein provided, which would be payable hereunder if such repossession had not occurred, less (b) the net proceeds, if any, of any reletting of the Leased Premises after deducting all of Landlord's commercially reasonable expenses incurred in connection with such reletting, including, but without limitation, all repossession costs, brokerage commissions, legal expenses, attorneys' fees, expenses of employees, alteration, remodeling, and repair costs and expenses of preparation for such reletting. If, in connection with any reletting, the new lease term extends beyond the existing Term or the premises covered thereby include other premises not part of the Leased Premises, a fair apportionment of the rent received from such reletting and the expenses incurred in connection therewith, as provided aforesaid, will be made in determining the net proceeds received from such reletting. In addition, in determining the net proceeds from such reletting, any rent concessions will be apportioned over the term of the new lease. Tenant shall pay such amounts to Landlord monthly on the days on which Minimum Rent and Additional Rent and all right, title other amounts owing hereunder would have been payable if possession had not been retaken and interest Landlord shall be entitled to receive the same from Tenant on each such day; or (2) To give Tenant written notice of Tenant hereunder shall expireintention to terminate this Lease on the date of such given notice or on any later date specified therein and, on the date stated specified in such notice; (b) Landlord may terminate the , Tenant's right of Tenant to possession of the Leased Premises without terminating this shall cease and the Lease by giving notice shall thereupon be terminated, except as to Tenant that Tenant's right of possession shall end on liability hereunder as hereinafter provided, as if the date stated in such notice, whereupon the right of Tenant to possession expiration of the Premises or any part thereof shall cease on the date stated term fixed in such notice but Tenant's obligations under were the end of the Term herein originally demised. In the event this Lease shall continue in full force and effect; and (c) Landlord may enforce is terminated pursuant to the provisions of this Lease subparagraph (2), Tenant shall remain liable to Landlord for damages in an amount equal 41 57 to the Minimum Rent and may enforce Additional Rent and protect the rights or Landlord other sums which would have been owing by Tenant hereunder by a suit or suits in equity or at law for the specific performance balance of the Term had this Lease not been terminated less the net proceeds, if any, of any covenant or agreement contained hereinreletting of the Leased Premises by Landlord subsequent to such termination, or after deducting all Landlord's commercially reasonable expenses in connection with such reletting, including, but without limitation, the expenses enumerated above. Landlord shall be entitled to collect such damages from Tenant monthly on the days on which the Minimum Rent and Additional Rent and other amounts would have been payable hereunder if this Lease had not been terminated and Landlord shall be entitled to receive the same from Tenant on each such day. Alternatively, at the option of Landlord, in the event this Lease is terminated, Landlord shall be entitled to recover forthwith against Tenant as damages for loss of the bargain and not as a penalty an amount equal to the worth at the time of termination of the excess, if any, of the amount of Minimum Rent and Additional Rent reserved in this Lease for the enforcement balance of any other appropriate legal or equitable remedythe Term hereof over the then Reasonable Rental Value of the Leased Premises for the same period plus all amounts incurred by Landlord in order to obtain possession of the Leased Premises and relet the same, including injunctive relief reasonable attorneys' fees, reletting expenses, alterations and recovery repair costs, brokerage commissions and all other like amounts, all discounted to present value (calculated on the basis of all moneys due or to become due from Tenant under any a discount rate of 6% per annum). It is agreed that the "Reasonable Rental Value" shall be the amount of rental which Landlord can obtain as rent for the remaining balance of the provisions of this Leaseterm.

Appears in 1 contract

Samples: Lease Agreement (Advanta Corp)

Landlord’s Remedies. If a Default occursUpon the occurrence of any of the aforesaid events of default, Landlord shall have the option to pursue any one or more of the following rights and remedies, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently remedies without any notice or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity: demand whatsoever: (ai) Landlord may terminate this Lease by giving Lease, in which event Tenant shall immediately surrender the Premises to Landlord and if Tenant notice of the Landlord's intention fails to do so, in which event the Term shall end, and all right, title and interest of Tenant hereunder shall expire, on the date stated in such notice; (b) Landlord may terminate the right of Tenant without prejudice to any other remedy which it may have for possession or arrearages in Rent, enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, by force, if necessary, without terminating this Lease being liable for prosecution or any claim of damages therefor; Tenant hereby agreeing to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by giving notice reason of such termination, whether through inability to Tenant that relet the Premises on satisfactory terms or otherwise; (ii) terminate Tenant's right of possession shall end on the date stated in such notice, whereupon the right of Tenant to (but not this Lease) and enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, by entry (including the use of force, if necessary), dispossessory suit or otherwise, without thereby releasing Tenant from any liability hereunder, without terminating this Lease, and without being liable for prosecution or any claim of damages therefor and, if Landlord so elects, make such alterations, and repairs as, in Landlord's judgment, may be necessary to relet the Premises, and Landlord may, but shall be under no obligation to do so, relet the Premises or any portion thereof in Landlord's or Tenant's name (limited to the length of the original lease term), but for the account of Tenant, for such term or terms (which may be for a term extending beyond the Lease Term) and at such rental or rentals and upon such other terms as Landlord may deem advisable, with or without advertisement, and by private negotiations, and receive the rent therefor, Tenant hereby agreeing to pay to Landlord the deficiency, if any, between all Rent reserved hereunder and the total rental applicable to the Lease Term hereof obtained by Landlord re-letting, and Tenant shall cease be liable for Landlord's expenses in restoring the Premises and all costs incident to such re-letting, including broker's commissions and lease assumptions, and in no event shall Tenant be entitled to any rentals received by Landlord in excess of the amounts due by Tenant hereunder; or (iii) enter upon the Premises by force, if necessary, without being liable for prosecution or any claim of damages therefor, and do whatever Tenant is obligated to do under the terms of this Lease; and Tenant agrees to reimburse Landlord on the date stated demand for any expenses including, without limitation, reasonable attorneys' fees which Landlord may incur in such notice but thus effecting compliance with Tenant's obligations under this Lease and Tenant further agrees that Landlord shall continue in full force and effect; and (c) not be liable for any damages resulting to Tenant from such action. If this Lease is terminated by Landlord as a result of the occurrence of an event of default, Landlord may enforce declare due and payable immediately an amount determined as follows: (x) the entire amount of Rent and other charges and assessments which would have become due and payable during the remainder of the Lease Term, discounted to present value by using a discount factor of eight percent (8%) per annum, plus (y) all of Landlord's costs and expenses (including, without limitation, Landlord's expenses in restoring the Premises and all costs relating to such reletting, including broker's commissions and lease assumptions) reasonably incurred in connection with or related to the reletting of the Premises, minus (z) the market rental value of the Premises for the remainder of the Lease Term, based on Landlord's reasonable determination of both future rental value and the probability of reletting the Premises for all or part of the remaining Lease Term, discounted to present value by using a discount factor of eight percent (8%) per annum. Such payment shall not constitute a penalty or forfeiture but shall constitute liquidated damages for Tenant's failure to comply with the terms and provisions of this Lease (Landlord and may enforce Tenant agreeing that Landlord's exact damages in such event are impossible to ascertain and protect that the rights or amount set forth above is a reasonable estimate thereof). For purposes of determining what could be collected by Landlord hereunder by a suit or suits reletting under this subsection, Landlord is not required to relet when other comparable space in equity or at law the Building is available. The term "remaining Lease Term" as used in this subsection shall mean the period which otherwise would have (but for the specific performance termination of any covenant or agreement contained herein, or for this Lease) constituted the enforcement of any other appropriate legal or equitable remedy, including injunctive relief and recovery of all moneys due or to become due from Tenant under any balance of the provisions Lease Term from the date of the termination of this Lease.

Appears in 1 contract

Samples: Industrial Building Lease (Nantucket Industries Inc)

Landlord’s Remedies. If a Upon the occurrence of any Event of Default occursand at any time thereafter, but subject to the terms of the SNDA with respect to the rights of any subtenant of Tenant, Landlord shall have may exercise any one or more of the following described remedies, in addition to all other rights and remediesremedies provided at law, which shall be distinct, separate and cumulative, and which may be exercised by Landlord concurrently in equity or consecutively in any combination and which shall not operate to exclude or deprive Landlord of any other right or remedy which Landlord may have in law or equity:elsewhere herein:‌ (aA) Landlord may terminate this Lease by giving to Tenant written notice of the Landlord's intention ’s election to do so, in which event the Term shall end, and all rightrights, title and interest of Tenant hereunder shall expire, end on the date stated in such notice;, subject to the right of Tenant to retain possession of the Premises until thirty (30) days after the end of the then-current academic quarter or semester upon (i) providing payment to Landlord of an amount equal to the sum of all Base Rent that is then due and payable, plus all Base Rent which shall become due and payable for the period commencing from the date of Tenant’s election to so continue the Lease through the date which is thirty (30) days after the end of the then-current academic quarter or semester, such amount to be paid within ten (10) days after receipt of notice of Landlord's election to terminate this Lease, (ii) paying all past and future Additional Rent as and when due, and (iii) cure all defaults capable of being cured. (bB) Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease Lease, by giving written notice to Tenant that Tenant's ’s right of possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice, subject to the right of Tenant to retain possession of the Premises until thirty (30) days after the end of the then-current academic quarter or semester upon (i) providing payment to Landlord of an amount equal to the sum of all Base Rent that is then due and payable, plus all Base Rent which shall become due and payable for the period commencing from the date of Tenant’s election to so continue the Lease through the date which is thirty (30) days after the end of the then-current academic quarter or semester, such amount to be paid within ten (10) days after receipt of notice but of Landlord's election to terminate this Lease, (ii) paying all past and future Additional Rent as and when due, and (iii) cure all defaults capable of being cured. In such event, Landlord may reenter and take possession of the Premises or any part of the Premises, repossess the same, expel Tenant and those claiming through or under Tenant's obligations , and remove the effects of both or either, without being deemed guilty of any manner of trespass, and without prejudice to any remedies for arrears of Rent or other amounts payable under this Lease shall continue in full force and effect; andor as a result of any other breach of this Lease. (cC) Landlord may enforce the provisions of this Lease and may enforce and protect the rights or of Landlord hereunder by a suit or suits in equity or at law for the specific performance of any covenant or agreement contained herein, or and for the enforcement of any other appropriate legal or equitable remedy, including without limitation (i) injunctive relief and relief, (ii) recovery of all moneys due or to become due from Tenant under any of the provisions of this Lease, and (iii) any other damages incurred by Landlord by reason of Tenant’s default under this Lease.

Appears in 1 contract

Samples: Completion and Cost Deposit and Escrow Agreement

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