Common use of Landlord’s Remedies Clause in Contracts

Landlord’s Remedies. Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 6 contracts

Samples: To Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Holdings, Inc.), To Lease (Radiation Therapy Services Holdings, Inc.)

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Landlord’s Remedies. Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent and all Additional Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Lease Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the PremisesCenter. If such termination shall take place after the expiration of two or more Lease Years, then, for purposes of computing the accelerated Rent, the Annual Percentage Rent payable with respect to each Lease Year following termination (including the Lease Year in which such termination shall take place) shall be conclusively presumed to be equal to the average Annual Percentage Rent payable with respect to each complete Lease Year preceding termination. If such termination shall take place before the expiration of two Lease Years, then, for purposes of computing the accelerated Rent, the Annual Percentage Rent payable with respect to each Lease Year following termination (including the Lease Year in which such the unexpired Term shall be conclusively presumed to be a sum equal to twenty-five percent (25%) of the annual Minimum Rent due and payable during such unexpired Term; and/or at Landlord’s option. Landlord may re-let the Premises or any part 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 or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Lease Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Sectionparagraph, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are a re-letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, terminated pursuant to Section 23.5(A) (2) Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 5 contracts

Samples: Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Holdings, Inc.), Addendum to Lease (Radiation Therapy Services Holdings, Inc.)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant's right of possession (but Tenant shall remain liable as hereinafter provided), and Tenant hereby waives and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant's right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The "worth at the election time of Landlord, be accelerated and the present worth of same for the balance award" of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 18 percent per annum or the maximum lawful rate. The "worth at the time of every nature which Landlord may incur such as award" of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) The "time of award" as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may grant concessions or free rent or charge a higher rental than that reserved in enforce all its rights and remedies under this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay including the right to Landlord recover rent as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed it becomes due. This remedy is intended to be paid the remedy described in California Civil Code Section 1951.4, and the net amountfollowing provision from such Civil Code Section is hereby repeated: "The Lessor has the remedy described in 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 anylessee has right to sublet or assign, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, subject only to reasonable limitations)." Any such payments due Landlord shall remit be made upon demand therefor from time to time and Tenant on a monthly basis until the Expiration Date agrees that Landlord may file suit to recover any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord sums falling due from time to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenanttime. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminatedNotwithstanding any such reletting without termination, Landlord may re-let the Premises or at any part thereof, alone or together with other premises, time thereafter elect in writing to terminate this Lease for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingprevious breach.

Appears in 4 contracts

Samples: Lease Agreement (Intervideo Inc), Lease Agreement (Volterra Semiconductor Corp), Lease Agreement (Network Peripherals Inc)

Landlord’s Remedies. The following shall each be an “Event of Default” under this Lease: If Tenant shall fail to pay the Rent or any installment thereof within five (5) business days after the date due or shall fail to pay, within five (5) business days after written notice of such failure is given to Tenant, any other sum required to be paid by Tenant under this Lease or under the terms of any other agreement between Landlord and Tenant; or if the interest of Tenant in this Lease shall be levied on under execution or other legal process; or if any voluntary petition in bankruptcy or for corporate re-organization 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 shall not have been dismissed within ninety (90) days from the filing thereof; or if a receiver shall be appointed for Tenant or any of the property of Tenant by any court and such receiver shall not have been dismissed within ninety (90) days from the date 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 have misrepresented or breached a warranty to Landlord set forth in clause S of Section 32 of this Lease for which no cure period is applicable under Section 32.S; or if any event has occurred which is specified as an Event of Default under this Lease; or if Tenant shall fail to observe or perform any of the other covenants or conditions in this Lease 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 curable and shall reasonably require more than thirty (30) days to cure, if Tenant shall fail to commence to cure said default within thirty (30) days after notice thereof and/or fail to continuously prosecute the curing of the same to completion with due diligence) then Landlord may without further notice reenter treat the Premises either by force occurrence of any one or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) more of the Premisesforegoing events as a breach of this Lease. If an Event of Default occurs, and remove their effects and hold the Premises as if this Lease had not been madeLandlord at its option may, and without additional notice or any demand of any kind to Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance any other person, have any one or more of the Term will, following described remedies in addition to all other rights and remedies provided at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises law or in good order equity or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved elsewhere in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.:

Appears in 4 contracts

Samples: Office Lease (Wayfair Inc.), Office Lease (Wayfair Inc.), Office Lease (Wayfair LLC)

Landlord’s Remedies. Landlord may without further notice reenter (a) The occurrence of any one or more of the Premises either following events (hereinafter referred to as “Events of Default”) shall constitute a breach of this Lease by force Tenant: (i) if Tenant shall fail to pay the Basic Rental or otherwise any other sum when and dispossess Tenant by summary proceedings or otherwise, as well as the legal representativessame becomes due and payable and such failure shall continue for more than ten days after written notice thereof from Landlord; or (ii) if Tenant shall fail to perform or observe any other term hereof or of the rules and regulations referred to in Section 12 hereof to be performed or observed by Tenant, such failure shall continue for more than thirty days after written notice thereof from Landlord, and Tenant shall not within such thirty day period commence with due diligence and dispatch the curing of such default, or, having so commenced, shall thereafter fail or neglect to prosecute or complete with due diligence and dispatch the curing of such default; (iii) if Tenant shall make a general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due or shall file a petition in bankruptcy, or shall be adjudicated as insolvent or shall file a petition in any proceeding seeking any reorganization, arrangements, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, or shall file an answer admitting or fail timely to contest or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant and/or other occupantsor any material part of its properties; (iv) if within ninety days after the commencement of any proceeding against Tenant seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed, or if, within ninety days after the Premisesappointment without the consent of acquiescence of Tenant, and remove their effects and hold the Premises as of any trustee, receiver or liquidator of Tenant or of any material part of its properties, such appointment shall not have been vacated; or (v) if this Lease had not been made, and or any estate of Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” hereunder shall be computed by discounting levied upon under any attachment or execution and such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises attachment or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease execution is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingvacated within sixty days.

Appears in 4 contracts

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

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandoned the Premises as prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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 reasonable avoided; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the term of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The “worth at the time of award” of the amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of 18 percent per annum or the maximum lawful rate. The “worth at the time of award” of the amount referred to in Section (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) The “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the amount referred to in clause (ii) above is computed by determining the mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Tenant acknowledges and agrees that the term “detriment proximately caused by Tenant’s failure to perform its obligations under this Lease” includes, without limitation, the value of any abated or free rent given to Tenant. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4, and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms “enter,” “re-rental. For purposes of this clause (2), enter,” present worthentryshall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may or “re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason because of, any Landlord’s failure by Landlord to re-let relet the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting.

Appears in 4 contracts

Samples: Lease Agreement (Supernova Partners Acquisition Co II, Ltd.), Lease Agreement (TheRealReal, Inc.), Lease Agreement (Virobay Inc)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant's right of possession, and (but Tenant hereby waives shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant's right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of the award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the "worth at the election time of Landlord, be accelerated and the present worth of same for the balance award" of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 12 percent per annum or the maximum lawful rate. The "worth at the time of every nature which Landlord may incur such as award" of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) the "time of award" as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may grant concessions enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4 and the following provision from such Civil Code Section is hereby repeated: "The Lessor has the remedy described in 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 free assign, subject only to reasonable limitations)." Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or charge other payment with knowledge of the breach of any covenant hereof shall not be deemed a higher rental than that reserved waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. The terms "enter," "re-enter," "entry" or "re-entry," as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s 's obligations hereunder be diminished by reason because of, any Landlord's failure by Landlord to re-let relet the Premises or collect rent due in respect of such reletting, provided that Landlord has made commercially reasonable efforts to relet the Premises and otherwise mitigate its damages; provided, however, (a) Landlord shall not be obligated to accept any failure tenant proposed by Tenant, (b) Landlord shall have the right to lease any other space controlled by Landlord to collect first, and (c) any rent due upon such re-lettingproposed tenant shall meet all of Landlord's leasing criteria.

Appears in 3 contracts

Samples: Lease Agreement (Ikanos Communications), Lease Agreement (Ikanos Communications), Lease Agreement (Ikanos Communications)

Landlord’s Remedies. Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2)provision, “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 3 contracts

Samples: To Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Inc)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default continues, Landlord may at any time elect to: (i) terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided), and/or (ii) pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant’s right of possession, Landlord may without further formal demand or notice reenter of any kind, re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwiseany other action or proceeding authorized by law and remove Tenant, as well as the legal representatives) of Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all property at the Premises as if Premises. Notwithstanding anything contained herein to the contrary, in the event Landlord delivers three notices of an Event of Default under this Lease had not been madein any twelve-month period, any subsequent Event of Default under the Lease shall be deemed an immediate Event of Default, and Tenant hereby waives shall have no cure period as otherwise provided in this Lease and Landlord may immediately pursue all of its remedies as provided in this Lease. If Landlord terminates this Lease, Landlord may recover from Tenant the service sum of notice (i) all Base Rent, Operating Expenses, and all other amounts payable by Tenant which have accrued to the date of intention to re-enter or to institute legal proceedings to that endsuch termination; and/or at Landlord’s option. All (ii) the value of the Base Rent for any periods of abated Base Rent based on the balance Base Rent amount that immediately follows such period of abatement; (iii) the Term willcost of reletting the Premises, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected including without limitation brokerage fees and/or leasing commissions incurred by Landlord, shall become immediately due thereupon costs of removing and be paidstoring property, together with repairing or altering the Premises for a new tenant(s); (iv) all reasonable expenses of every nature which incurred by Landlord may incur such as (by way of illustration and not limitation) those for in pursuing its remedies, including reasonable attorneys’ feesfees and court costs; and (v) the excess of the then present value of the Base Rent, brokerage, advertisingOperating Expenses, and refurbishing other amounts payable by Tenant under this Lease applicable during the period following the termination of this Lease to the Expiration Date, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises in good order or preparing them for re-rentalsuch period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. For purposes of this clause (2), “Such present worth” values shall be computed by discounting such amount to present worth calculated at a discount rate equal to one percentage point above the discount 90-day U.S. Treasury bill rate then in effect at the Federal Reserve Bank nearest to the location date of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Termsuch termination. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by terminates Tenant’s right of possession (but not this SectionLease), Landlord may, but shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costsbe under no obligation to, fees and commissions, and costs of preparing improvements and refurbishment to relet the Premises for the replacement tenantaccount of Tenant without releasing Tenant from liability and without demand or notice to Tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let Any reletting of the Premises or any part thereof, alone or together with other premises, for such term or terms (which may shall be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions satisfactory to Landlord in its sole discretion (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing of any other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished because of Landlord’s failure to relet the Premises or collect rent from such reletting. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the Base Rent and Operating Expenses due and payable by reason ofTenant for such period or periods, plus the cost of recovering possession of the Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent, Operating Expenses, and other amounts accrued including interest per paragraph 37(l) below at the time of repossession, and the costs incurred by Xxxxxxxx’s efforts to relet the Premises. If the Premises are relet and a sufficient sum is not realized from such reletting [after first deducting the unpaid Base Rent, Operating Expenses, and other amounts accrued under this Lease at the time of reletting, the cost of recovering possession (including attorneys’ fees and legal costs), the costs and expenses of repairs, alterations, and additions, reletting expenses (including leasing commissions and repairs completed by Landlord on Tenant’s behalf) and the cost of rent collection] to satisfy the rent provided for in this Lease, then Tenant shall immediately pay any such deficiency upon demand. Xxxxxx agrees that Landlord may file suit to recover any sums as they become due. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Xxxxxxxx’s exercise of any remedies shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance the terms hereof shall not be construed as having created a custom or manner in any way contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent Event of Default. Receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless agreed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives all right of redemption in case the Lease is terminated, or Tenant shall be dispossessed by a judgment or by warrant of any court or judge. In the event Landlord exercises self-help, or lock-out, remedies as provided by law, Tenant hereby waives all claims against Landlord for any business loss or business interruption which Tenant may incur and any property remaining on the Premises shall be deemed abandoned by Xxxxxx and Landlord may store, remove, or disposed of such property at Tenant’s expense, and Tenant waives all claims against Landlord for any damages resulting from Landlord’s retention and disposition of such property. The terms “enter,” “re-let the Premises enter,” “entry” or any failure by Landlord to collect any rent due upon such re-lettingentry,” as used in this Lease, are not restricted to their technical legal meanings.

Appears in 2 contracts

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

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant's right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises as prior to the end of the term hereof, or if Tenant's right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of the award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the term of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the “worth at the time of award” of the amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of 18 percent per annum or the maximum lawful rate. The “worth at the time of award” of the amount referred to in Section (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) the “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the amount referred to in clause (ii) above is computed by determining the mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4 and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord's intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms “enter,” “re-rental. For purposes of this clause (2), enter,” present worthentryshall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may or “re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s 's obligations hereunder be diminished by reason because of, any Landlord's failure by Landlord to re-let relet the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting.

Appears in 2 contracts

Samples: Lease Agreement (Skechers Usa Inc), Lease Agreement (Skechers Usa Inc)

Landlord’s Remedies. If a default by Tenant under this Lease shall occur, in addition to any other rights and remedies available to Landlord at law or in equity (including, without limitation, the provisions of Section 1951.4 of the California Civil Code or any successor statutory provision), Landlord at any time thereafter shall have the right to give a written notice of termination of this Lease to Tenant, and on the date specified in such notice (which shall be not less than three (3) days after the giving of such notice), Tenant's right to possession of the Premises and this Lease shall terminate, unless on or before such date all arrears of Monthly Base Rent and all other sums payable by Tenant under this Lease and all costs and expenses incurred by Landlord with respect to such default shall have been paid by Tenant, and any other breaches of this Lease by Tenant at that time existing shall have been fully remedied to the satisfaction of Landlord. If Landlord shall terminate this Lease pursuant to the provisions of this Section, Landlord shall have all the rights and remedies of a landlord provided by Section 1951.2 of the California Civil Code or any successor statutory provision. Upon such termination, in addition to any other rights and remedies to which Landlord may without further notice reenter be entitled under applicable law, Landlord may recover from Tenant: (a) the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as worth at the legal representativestime of award of all unpaid rent which had been earned at the time of termination; (b) the worth at the time of Tenant and/or other occupants) award of the Premises, and remove their effects and hold amount by which all unpaid rent which would have been earned after termination until the Premises as if this Lease had not time of award exceeds the amount of such rent loss that Tenant proves could have been made, and Tenant hereby waives reasonably avoided; (c) the service worth at the time of notice award of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent the amount by which all unpaid rent for the balance of the term of this Lease after the time of award exceeds the amount of such rent loss that Tenant proves could be reasonably avoided; and (d) any other amount necessary to compensate Landlord for all the detriment proximately caused by Xxxxxx's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, attorneys' fees and costs; brokerage commissions; the cost of alterations, additions, improvements, renovations, refurbishment and repair of the Premises; the cost of removal and storage of Tenant's trade fixtures, equipment, fixtures, furnishings and other personal property located in the Premises; and the unamortized portion, as of the date of termination of this Lease, of any Tenant Improvements constructed or installed by Landlord at its expense (as amortized over the Term will, with interest thereon at the election Interest Rate). The "worth at the time of Landlord, be accelerated and the present worth of same for the balance award" of the Term, net amounts referred to in clauses (a) and (b) above shall be computed by allowing interest at the Interest Rate. The worth at the time of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses award of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises amount referred to in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” c) above shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms award plus one percent (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting1%).

Appears in 2 contracts

Samples: Interwave Communications International LTD, Interwave Communications International LTD

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default continues, Landlord may at any time elect to: (i) terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided), and/or (ii) pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant’s right of possession, Landlord may without further formal demand or notice reenter of any kind, re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwiseany other action or proceeding authorized by law and remove Tenant, as well as the legal representatives) of Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all property at the Premises as if Premises. Notwithstanding anything contained herein to the contrary, in the event Landlord delivers three notices of an Event of Default under this Lease had not been madein any twelve month period, any subsequent Event of Default under the Lease shall be deemed an immediate Event of Default, and Tenant hereby waives shall have no cure period as otherwise provided in this Lease and Landlord may immediately pursue all of its remedies as provided in this Lease. If Landlord terminates this Lease, Landlord may recover from Tenant the service sum of notice (i) all Base Rent, Taxes, Monthly FOE, and all other amounts payable by Tenant which have accrued to the date of intention to re-enter or to institute legal proceedings to that endsuch termination; and/or at Landlord’s option. All (ii) the value of the Base Rent for any periods of abated Base Rent based on the balance Base Rent amount that immediately follows such period of abatement; (iii) the Term willcost of reletting the Premises, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected including without limitation brokerage fees and/or leasing commissions incurred by Landlord, shall become immediately due thereupon costs of removing and be paidstoring property, together with repairing or altering the Premises for a new tenant(s); (iv) all reasonable expenses of every nature which incurred by Landlord may incur such as (by way of illustration and not limitation) those for in pursuing its remedies, including reasonable attorneys’ feesfees and court costs; and (v) the excess of the then present value of the Base Rent, brokerageTaxes, advertisingMonthly FOE, and refurbishing other amounts payable by Tenant under this Lease applicable during the period following the termination of this Lease to the Expiration Date, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises in good order or preparing them for re-rentalsuch period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. For purposes of this clause (2), “Such present worth” values shall be computed by discounting such amount to present worth calculated at a discount rate equal to one percentage point above the discount 90-day U.S. Treasury bill rate then in effect at the Federal Reserve Bank nearest to the location date of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Termsuch termination. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by terminates Tenant’s right of possession (but not this SectionLease), Landlord may, but shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costsbe under no obligation to, fees and commissions, and costs of preparing improvements and refurbishment to relet the Premises for the replacement tenantaccount of Tenant without releasing Tenant from liability and without demand or notice to Tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let Any reletting of the Premises or any part thereof, alone or together with other premises, for such term or terms (which may shall be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions satisfactory to Landlord in its sole discretion (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing of any other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished because of Landlord’s failure to relet the Premises or collect rent from such reletting. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the Base Rent, Monthly FOE, and Taxes due and payable by reason ofTenant for such period or periods, plus the cost of recovering possession of the Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent, Taxes, Monthly FOE, other amounts accrued including interest per paragraph 37(k) below at the time of repossession, and the costs incurred by Xxxxxxxx’s efforts to relet the Premises. If the Premises are relet and a sufficient sum is not realized from such reletting [after first deducting the unpaid Base Rent, Taxes, Monthly FOE, and other amounts accrued under this Lease at the time of reletting, the cost of recovering possession (including attorneys’ fees and legal costs), the costs and expenses of repairs, alterations, and additions, reletting expenses (including leasing commissions and repairs completed by Landlord on Tenant’s behalf) and the cost of rent collection] to satisfy the rent provided for in this Lease, then Tenant shall immediately pay any such deficiency upon demand. Xxxxxx agrees that Landlord may file suit to recover any sums as they become due. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Xxxxxxxx’s exercise of any remedies shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance the terms hereof shall not be construed as having created a custom or manner in any way contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent Event of Default. Receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless agreed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives all right of redemption in case the Lease is terminated, or Tenant shall be dispossessed by a judgment or by warrant of any court or judge. In the event Landlord exercises self-help, or lock-out, remedies as provided by law, Tenant hereby waives all claims against Landlord for any business loss or business interruption which Tenant may incur and any property remaining on the Premises shall be deemed abandoned by Xxxxxx and Landlord may store, remove, or disposed of such property at Tenant’s expense, and Tenant waives all claims against Landlord for any damages resulting from Landlord’s retention and disposition of such property. The terms “enter,” “re-let the Premises enter,” “entry” or any failure by Landlord to collect any rent due upon such re-lettingentry,” as used in this Lease, are not restricted to their technical legal meanings.

Appears in 2 contracts

Samples: Lease (Lakeside Holding LTD), Lease (Lakeside Holding LTD)

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to SECTION 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in SECTION 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant's right of possession of the Premises; or (b) terminate Tenant's right of possession of the Premises either without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its sole discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value (at 6% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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, be 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 present worth of same Lease for the balance of the Term, net discounted to present value at a rate of amounts actually collected 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, shall become immediately due thereupon upon demand, any and be paid, together with all expenses of every nature which Landlord may incur incurred in such removal and all storage charges against such property so long as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” same shall be computed in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by discounting such amount to present worth at a discount rate equal to one percentage point above Tenant within 30 days after the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 end of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s optionhowever terminated, shall be conclusively presumed to have been conveyed by Tenant or its legal representatives will also pay to Landlord under this Lease as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amountin a xxxx of sale, if any, of the rents collected on account of the lease without further payment or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 2 contracts

Samples: Asset Acceptance Capital Corp, Asset Acceptance Capital Corp

Landlord’s Remedies. Landlord may without further notice reenter In the Premises either event of any default by force or otherwise and dispossess Tenant by summary proceedings or otherwiseunder this Lease, as well as the legal representatives) of Tenant and/or other occupants) of the PremisesLandlord, at its option, and remove their effects after any applicable notice and hold the Premises cure period (as if this Lease had not been made, and Tenant hereby waives the service of notice of intention required pursuant to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2Section 21.2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises but without additional notice or any part thereof, either in the name of Landlord or otherwise, for a term or terms which may at demand from Landlord’s option be less than or exceed the period which would otherwise have constituted the balance of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant’s right of possession of the rents collected on account Premises; or (b) terminate Tenant’s right of the lease or leases possession of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If without terminating this Lease; provided, however, that Landlord exercises the remedy may, whether Landlord elects to proceed under Subsections (a) or (b) above, and provided that Tenant has paid Landlord relet the accelerated Rent as required by this SectionPremises, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premisesthereof for the account of Tenant, for such rent and term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on upon such terms and conditions (which may include concessions or free rent as are acceptable to Landlord. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and alterations of improve the Premises) as Premises to the extent deemed necessary by Landlord, in its sole discretion. In the event of the termination of this Lease by Landlord pursuant to (a) above, may determineLandlord shall be entitled to recover from Tenant (i) all damages and other sums that Landlord 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 period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 liable any defense to any subsequent action brought for nor 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 obligations 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 diminished removed from the Premises by reason ofLandlord 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 failure 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 re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingTenant.

Appears in 2 contracts

Samples: Assignment and Assumption of Lease (Wornick CO Right Away Division, L.P.), Assignment and Assumption of Lease (TWC Holding Corp.)

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without further additional notice reenter the Premises either by force or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) Tenant's right of Tenant and/or other occupants) possession of the Premises; or (b) terminate Tenant's right of possession of the Premises without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. 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 its sole discretion. 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 other sums that Landlord 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 period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 remove their effects and hold the Premises as if this 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 had not been madefor 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 hereby waives shall pay to Landlord quarterly the service accelerated amount of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Base Rent for and Additional Rent due under the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same Lease for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount discounted to present worth value at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest 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 location 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. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 2 contracts

Samples: Griffin Capital Essential Asset REIT II, Inc., Griffin Capital Essential Asset REIT II, Inc.

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to SECTION 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in SECTION 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant's right of possession of the Premises; or (b) terminate Tenant's right of possession of the Premises either without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its sole, but - reasonable, discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe DISCOUNTED PRESENT VALUE (AT 6% PER ANNUM) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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, be 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 present worth of same Lease for the balance of the Term, net discounted to present value at a rate of amounts actually collected 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 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, shall become immediately due thereupon upon demand, any and be paid, together with all expenses of every nature which Landlord may incur incurred in such removal and all storage charges against such property so long as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” same shall be computed in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by discounting such amount to present worth at a discount rate equal to one percentage point above Tenant within 30 days after the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 end of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s optionhowever terminated, shall be conclusively presumed to have been conveyed by Tenant or its legal representatives will also pay to Landlord under this Lease as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amountin a xxxx of sale, if any, of the rents collected on account of the lease without further payment or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costsTenant. However, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord foregoing shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by release or absolve Landlord of its obligation to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingreasonably mitigate damages.

Appears in 2 contracts

Samples: Natural Golf Corp, Natural Golf Corp

Landlord’s Remedies. Landlord may without further notice reenter (a) The occurrence of any one or more of the Premises either following events (hereinafter referred to as “Events of Default”) shall constitute a breach of this Lease by force Tenant: (i) if Tenant shall fail to pay the Basic Rental or otherwise any other sum when and dispossess Tenant by summary proceedings or otherwise, as well as the legal representativessame becomes due and payable and such failure shall continue for more than ten (10) days after written notice thereof from Landlord; or (ii) if Tenant shall fail to perform or observe any other term hereof or of the rules and regulations referred to in Section 12 hereof to be performed or observed by Tenant, such failure shall continue for more than thirty (30) days after written notice thereof from Landlord, and Tenant shall not within such thirty (30) day period commence with due diligence and dispatch the curing of such default, or, having so commenced, shall thereafter fail or neglect to prosecute or complete with due diligence and dispatch the curing of such default; (iii) if Tenant shall make a general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due or shall file a petition in bankruptcy, or shall be adjudicated as insolvent or shall file a petition in any proceeding seeking any reorganization, arrangements, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, or shall file an answer admitting or fail timely to contest or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant and/or other occupantsor any material part of its properties; (iv) if within ninety (90) days after the commencement of any proceeding against Tenant seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed, or if, within ninety (90) days after the Premisesappointment without the consent of acquiescence of Tenant, and remove their effects and hold the Premises as of any trustee, receiver or liquidator of Tenant or of any material part of its properties, such appointment shall not have been vacated; or (v) if this Lease had not been made, and or any estate of Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” hereunder shall be computed by discounting levied upon under any attachment or execution and such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises attachment or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease execution is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms not vacated within sixty (which may be greater or less than the period which otherwise would have constituted the balance of the Term60) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingdays.

Appears in 2 contracts

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

Landlord’s Remedies. Landlord may may, without further notice notice, reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, otherwise (as well as the legal representatives) representatives of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2)provision, “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 2 contracts

Samples: To Lease (Radiation Therapy Services Holdings, Inc.), Lease (Radiation Therapy Services Inc)

Landlord’s Remedies. In 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 remedies provided by law or otherwise provided in this Lease, to which Landlord may 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 further 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 Tenant written notice reenter of termination, in which event this Lease shall terminate on the date 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 either or assignment of this Lease by force or otherwise and dispossess Tenant by summary proceedings 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 this Lease, but this Lease shall not terminate unless Landlord gives Tenant written notice of 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 well 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 legal representativesEffective 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 Tenant and/or other occupants) award of the Premises, and remove their effects and hold amount by which the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent unpaid rent for the balance of the Term willterm after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest 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 failure to perform Tenant's obligations under this Lease, or which in the 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, (ii) expenses for altering, remodeling or otherwise improving the Leased Premises for the purpose of 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 allowance to a new tenant, or otherwise), (iii) broker's fees allocable to the location remainder of the 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 may re-let the Premises or any part thereof, either (but not limited to taxable costs) 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 retaking possession of the TermLeased Premises, establishing damages hereunder, and may grant concessions releasing the Leased Premises; and (vii) any other expenses, costs or free rent damages otherwise incurred or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord suffered as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenantTenant's default. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.12.3

Appears in 2 contracts

Samples: Vantive Corp, Vantive Corp

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to SECTION 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in SECTION 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant's right of possession of the Premises; or (b) terminate Tenant's right of possession of the Premises either without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its sole discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value (at 6% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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, be 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 present worth of same Lease for the balance of the Term, net discounted to present value at a rate of amounts actually collected 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, shall become immediately due thereupon upon demand, any and be paid, together with all expenses of every nature which Landlord may incur incurred in such removal and all storage charges against such property so long as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” same shall be computed in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by discounting such amount to present worth at a discount rate equal to one percentage point above Tenant within 30 days after the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 end of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s optionhowever terminated, shall be conclusively presumed to have been conveyed by Tenant or its legal representatives will also pay to Landlord under this Lease as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amountin a xxxx of sale, if any, of the rents collected on account of the lease without further payment or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 2 contracts

Samples: Build a Bear Workshop Inc, Build a Bear Workshop Inc

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without further additional notice reenter or demand from Landlord, may, at any time before such default is cured, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant’s right of possession of the Premises; or (b) terminate Tenant’s right of possession of the Premises either without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent reasonably deemed necessary by force 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value (at 9% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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), be accelerated 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 present worth of same for the balance of the Termevent Landlord elects, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as pursuant to clause (by way of illustration and not limitationb) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2)Section 22.2, “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location terminate Tenant’s right of the Premises. Landlord may re-let the Premises or any part thereofpossession only, 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in without terminating this Lease; and/or , 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 its legal representatives will also 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 as liquidated damages Landlord, upon demand, any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to expenses incurred in such removal and all storage charges against such property so long as the same shall be paid and 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 net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance end of the Term. If , however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord exercises the remedy aboveunder this Lease as in a xxxx of sale, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid without further payment or credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment Tenant. Notwithstanding any provision contained herein to the Premises contrary: (a) Tenant’s liability shall be without duplication and shall be limited to actual, direct damages and Tenant shall have no liability for the replacement tenant. In no event consequential, speculative or punitive damages; and (b) Landlord shall the total amount paid not have and hereby waives any lien or security interest against Tenant’s property and agrees to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid execute and deliver within ten (10) days following request such documents and instruments as may be requested by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for confirm such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingwaiver.

Appears in 2 contracts

Samples: Gordmans Stores, Inc., Gordmans Stores, Inc.

Landlord’s Remedies. If Tenant shall be in default under this Lease, Landlord may without further shall have the right, at its sole option, to terminate this Lease, provided Landlord shall give Tenant ten (10) days’ prior notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the PremisesLease termination with respect to any monetary defaults hereunder, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of thirty (30) days’ prior notice of intention Lease termination as to renon-enter or monetary defaults which notice shall specify the alleged default. The termination notice may be cured within the applicable ten (10) and thirty (30) day periods as above provided if Tenant cures the default occasioning such termination notice; and with respect to institute legal proceedings the non-monetary defaults if the cure cannot be effectuated within the thirty (30) day period, but Tenant is diligently prosecuting any such cure, the termination notice will be extended for such reasonable time as may be necessary for Tenant to that end; and/or at Landlord’s optioneffectuate such cure. All Rent for In the event of a default beyond the expiration of any applicable notice and cure periods, the balance of all Rent and other charges to become due throughout the Term willhereof shall, at the election option of Landlord, be accelerated and shall be immediately due and payable, and which shall be discounted to net present value at the present worth rate of same six (6%) percent, and Landlord may in its own name, but as agent for Tenant, assign, sublet or relet the balance Leased Premises for any period equal to or greater or less than the remainder of the TermTerm hereof for any sum which Landlord may deem reasonable to any lessee Landlord may select, net and for any use or purpose which Landlord may designate. With or without terminating this Lease, Landlord may re-enter and take possession of amounts actually collected the Leased Premises and the provisions of this Article 25 shall operate as a notice to quit, any other notice to quit or of Landlord’s intention to re-enter the Leased Premises being hereunder expressly waived. If necessary, Landlord may proceed to recover possession of the Leased Premises under and by virtue of the laws of the State of New Jersey or by such other proceedings, including re-entry and possession, as may be applicable. If Landlord elects to terminate this Lease, everything contained in this Lease on the part of Landlord to be done and performed shall cease as of the date Landlord elects to terminate this Lease (except for those obligations which accrued prior to the date this Lease is terminated), without prejudice, however, to the right of Landlord to recover from Tenant all Rent and other sums accrued up to the time of termination or recovery of possession by Landlord, whichever is later, the unamortized cost of all broker commissions, the cost of all improvements to the Leased Premises incurred by Landlord in connection with this Lease, the Base Rent Allowance at the rate of $18.00 per rentable square foot on account of the entire Leased Premises, and all Rent remaining to be paid under this Lease discounted to net present value at the rate of six (6%) percent. If the full rental provided herein plus the costs, expenses and damages hereafter described shall become immediately due thereupon not be realized by Landlord, Tenant shall be liable for all damages sustained by Landlord, including, without limitation, deficiency in Base Rent and be paidAdditional Rent, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for reasonable attorneys’ fees, brokerage, advertisingbrokerage fees, and refurbishing the expense of placing the Leased Premises in good order or preparing them for refirst-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premisesclass rentable condition. Landlord may re-let shall in no way be responsible or liable for any failure to relet the Leased Premises or any part thereof, either in or any failure to collect any Rent due and/or accrued from such reletting, to the name end and intent that Landlord may elect to hold Tenant liable for the Base Rent, Additional Rent, and any and all other items of Landlord or otherwise, for a term or terms cost and expense which may at Landlord’s option be less than or exceed Tenant shall have been obligated to pay throughout the period which would otherwise have constituted the balance remainder of the Lease Term. Any damages or loss of Rent sustained by Landlord may be immediately recovered by Landlord, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between at the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, time of the rents collected on account reletting, or in separate actions, from time to time, as said damages shall have been made more easily ascertainable by successive relettings, or, at Landlord’s option, may be deferred until the expiration of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Lease Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord which event Tenant hereby agrees that the cause of action shall not be liable for nor deemed to have accrued until the date of expiration of the Lease Term. The provisions contained in this Section shall Tenant’s obligations hereunder be diminished by reason in addition to, and shall not prevent the enforcement of, any failure by claim Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingmay have against Tenant for anticipatory breach of this Lease.

Appears in 2 contracts

Samples: Lease (Vitamin Shoppe, Inc.), Lease (Vitamin Shoppe, Inc.)

Landlord’s Remedies. Landlord shall have the following remedies if Tenant is in default. (These remedies are not exclusive; they are cumulative and in addition to any remedies now or later allowed by law): Landlord may without further notice reenter terminate Tenant's right to possession of the Premises either at any time. No act by force or otherwise and dispossess Landlord other than giving notice to Tenant by summary proceedings or otherwiseshall terminate this Lease. Acts of maintenance, as well as the legal representatives) of Tenant and/or other occupants) of efforts to relet the Premises, and remove their effects and hold or the Premises as if appointment of a receiver on Landlord's initiative to protect Xxxxxxxx's interest under this Lease had shall not been madeconstitute a termination of Tenant's right to possession. Upon termination of Tenant's right to possession, and Tenant hereby waives Landlord has the service of notice of intention right to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for recover from Tenant: (1) the balance worth of the Term will, unpaid Rent that had been earned at the election time of Landlord, be accelerated and termination of Tenant's right to possession; (2) the present worth of same for the balance amount of the Term, unpaid Rent that would have been earned after the date of termination of Tenant's right to possession less the amount that Tenant proves Landlord should be able to earn during such period net of amounts actually collected all releasing costs; (3) any other amount, including but not limited to, expenses incurred to relet the Premises, court, attorney and collection costs, necessary to compensate Landlord for all detriment caused by LandlordXxxxxx's default. "The Worth," as used for Item (1) in this Paragraph 21 is to be computed by allowing interest at the rate of 18 percent per annum. If the interest rate specified in this Lease is higher than the rate permitted by law, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such the interest rate is hereby decreased to the maximum legal interest rate permitted by law. "The Worth" as (by way of illustration and not limitation) those used for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause Item (2), “present worth” shall ) in this Paragraph 21 is to be computed by discounting such the amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of the Premises. Landlord may re-let the Premises or any part thereof, either in the name termination 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 Tenant's right of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingpossession.

Appears in 2 contracts

Samples: Work Letter Agreement (Auteo Media Inc), Basic Lease Terms (Helix Biomedix Inc)

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to SECTION 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in SECTION 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant's right of possession of the Premises; or (b) terminate Tenant's right of possession of the Premises either without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its sole discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value (at 6% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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, be 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 present worth of same Lease for the balance of the Term, net discounted to present value at a rate of amounts actually collected 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, shall become immediately due thereupon upon demand, any and be paid, together with all expenses of every nature which Landlord may incur incurred in such removal and all storage charges against such property so long as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” same shall be computed in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by discounting such amount to present worth at a discount rate equal to one percentage point above Tenant within 30 days after the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 end of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s optionhowever terminated, shall be conclusively presumed to have been conveyed by Tenant or its legal representatives will also pay to Landlord under this Lease as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amountin a bill of sale, if any, of the rents collected on account of the lease without further payment or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingTenanx.

Appears in 2 contracts

Samples: Research Inc /Mn/, Vascular Solutions Inc

Landlord’s Remedies. Upon the occurrence of an event of default enumerated in subsection (a) or (b) of Paragraph 12 above, should such default remain uncured after ten days written notice of default to Tenant in the case of an event of default enumerated in subsection (a) or after thirty days written notice of default to Tenant in the case of an event of default enumerated in subsection (b), Landlord may without further notice reenter at once thereafter or at any time subsequent during the Premises either by force existence of such breach or otherwise default, enter into and dispossess Tenant by summary proceedings or otherwise, as well as upon the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Leased Premises or any part thereofthereof and repossess the same, either in expelling and removing therefrom all persons and property (which property may be removed and stored at 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 Termcost, and for the account of Tenant), using such force as may grant concessions be necessary, and either (I) breach, or free rent or charge a higher rental than that reserved in (ii) without terminating this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between relet the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises leased premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on thereof upon such terms and conditions (which may include concessions or free rent and alterations as possession of the Premises) Leased Premises or the making of alterations and/or improvements thereto or the reletting thereof shall be construed as Landlord, in its sole discretion, may determine, but an election on the part of Landlord to terminate this Lease unless written notice of such intention is given to Tenant. If Landlord shall not proceed in accordance with the last mentioned alternative (ii), should the net amount received from reletting the Premises during any month or part thereof be liable less than the rent due and owing from Tenant during such month or part thereof under the terms of this Lease, Tenant shall pay such deficiency immediately upon calculation thereof and demand therefore by Landlord. Upon the occurrence of an event of default enumerated in subsection (c) of Paragraph 12 above, Landlord may, if Landlord so elects, at any time thereafter terminate the Lease and the term hereof, upon giving to Tenant ten days’ notice in writing of Landlord’s intention so to do and this lease and the term hereof shall expire and come to an end on the date fixed in such notice as if said date were the date originally fixed in this Lease for nor the expiration hereof. Notwithstanding the foregoing, and event of default (except the failure to pay the rent or any other amount due hereunder), the curing of which shall actually require more than thirty days because of any cause beyond Tenant’s obligations hereunder control, shall be diminished deemed cured by reason of, any failure by Landlord Tenant if Tenant shall have commenced to re-let cure said default within the Premises or any failure by Landlord to collect any rent thirty day period and shall thereafter have successfully prosecuted the curation of said default with due upon such re-lettingdiligence.

Appears in 2 contracts

Samples: Sub Lease Agreement (Ufp Technologies Inc), Sub Lease Agreement (Ufp Technologies Inc)

Landlord’s Remedies. Upon each occurrence of an Event of Default which continues beyond any applicable notice and cure period, and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant's right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant's right of possession, Landlord, subject to applicable laws shall have the right, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other lawful action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandoned the Premises as prior to the end of the term hereof, or if Tenant's right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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 reasonable avoided; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the term of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The "worth at the time of award" of the amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of 18 percent per annum or the maximum lawful rate. The "worth at the time of award" of the amount referred to in Section (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) The "time of award" as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the amount referred to in clause (ii) above is computed by determining the mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Tenant acknowledges and agrees that the term “detriment proximately caused by Tenant's failure to perform its obligations under this Lease” includes, without limitation, the value of any abated or free rent given to Tenant. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4, and the following provision from such Civil Code Section is hereby repeated: "The Lessor has the remedy described in 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)." Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord's intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms "enter," "re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may enter," "entry" or "re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry," as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s 's obligations hereunder be diminished by reason because of, any Landlord's failure by Landlord to re-let relet the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting.

Appears in 1 contract

Samples: The Lease Agreement (American Apparel, Inc)

Landlord’s Remedies. If the Tenant either fails to pay any rent or other ------------------- monies owed to the Landlord on the date it is due and payable, and fails to cure such default within ten (10) days or is otherwise in default of any of its obligations or duties under this Lease after thirty (30) days of written notice thereof by the Landlord plus such additional time as is necessary to correct said default so long as the cure is continuously and diligently undertaken by the Tenant, then the Landlord may without further notice reenter enter into and upon the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwisepremises, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part thereof, either in and repossess the name same, with or without terminating this Lease and without prejudice to any of Landlord or otherwise, its remedies 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or breach of covenant and may, at Landlord’s its option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If terminate this Lease is terminatedby giving written notice of its election to do so or may, Landlord may re-let at its option, lease the Premises Premises, or any part thereof, alone as the agent of the Tenant, or together otherwise. The Tenant shall, without demand or further process of law, pay to the Landlord at the end of each month during the Term the difference between the rent due to the Landlord from the Tenant under this Agreement, including any increases in rent under this Agreement, and the net receipts, if any, being received by the Landlord from the Premises (such net receipts to be calculated by deducting from the gross receipts the expenses incurred by the Landlord in connection with other premises, the re-letting of the Premises and performing the Tenant's obligations under this Agreement). If the rent for such term or terms (which may be greater or less re-letting the Premises is higher than the period which otherwise would monthly rent under this Agreement, then such excess rent shall belong to the Landlord and the Tenant will have constituted the balance no claim or right thereto. The failure or delay of the Term) and on such terms and conditions (which Landlord in taking any action or pursuing any remedy in the event of a default by the Tenant may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished considered a waiver or consent by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingLandlord.

Appears in 1 contract

Samples: Office/ Warehouse Lease Agreement (Am General Corp)

Landlord’s Remedies. Landlord may In the event of any default by Tenant ------------------- under this Lease, Landlord, at its option, and after the proper notice and cure period, if any, as provided in Section 20.2 has expired, without further notice reenter the Premises either by force or demand to Tenant, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity; (a) terminate this Lease and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) Tenant's right of Tenant and/or other occupants) possession of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention recover all damages to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not is entitled under law, specifically including, without limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount accelerated Rent attributable to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions all Landlord's expenses of reletting the Premises (including repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions), or free rent (b) or charge a higher rental than that reserved in terminate Tenant's right of possession of the Premises without terminating this Lease; and/or provided, however, that Landlord shall use its reasonable efforts, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. If Landlord shall elect 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), including but not limited to such time as Landlord has obtained a tenant to relet the Premises, which, in Landlord’s option's reasonable judgment, is a suitable tenant. For purposes of such reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by Landlord, in its sole and absolute discretion. If Landlord fails to relet the Premises or if the Premises are relet and a sufficient sum is not realized therefrom, after payment of all Landlord's expenses of reletting (including repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions), to satisfy the payment, when due, of Rent reserved under this Lease for any monthly period, then Tenant or its legal representatives will also shall pay to Landlord as liquidated damages any deficiency between a sum equal to the accelerated amount of Rent and all Additional Rent hereby reserved and/or agreed due under this Lease attributable to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term, or if the Premises have been relet, Tenant shall pay any such deficiency monthly. If Tenant agrees that Landlord exercises 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. In the remedy aboveevent Landlord elects, pursuant to Subsection (b) of this Section 21.2, 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 19 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 Rent reserved hereunder for the full Term, or from any other obligation of Tenant has paid Landlord under this Lease. Any and all property that may be removed from the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected 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 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 thirty (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 result xxxx of are letting remaining after subtracting therefrom all reasonable costs paid 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 moneys due under this Lease, which lien may be enforced in equity; and Landlord shall be entitled as a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs matter of preparing improvements and refurbishment right to have a receiver appointed to take possession of the Premises for and relet the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance same under order of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingcourt.

Appears in 1 contract

Samples: Lasermaster Technologies Inc

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after the proper notice and cure period, but without further additional notice reenter or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant's right of possession of the Premises; or (b) terminate Tenant's right of possession of the Premises either without terminating this Lease; provided, however, that Landlord shall use its reasonable efforts, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In the event of the termination of this Lease by force Landlord pursuant to (a) above, Landlord shall be entitled to recover from Tenant (i) all damages and other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value (at 6% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election date of termination of this Lease) after deduction (from such fair market rental value) of all of Landlord's anticipated expenses of reletting. 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). For purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by Landlord, in its sole, but reasonable, discretion. If the Premises are relet and a sufficient sum is not realized therefrom, 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), then 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 fails to relet the Premises, then Tenant shall pay to Landlord the sum of (x) the projected costs of Landlord's reasonable 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 present worth of same Lease for the balance of the Term, net discounted at a rate of amounts actually collected six percent (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. 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 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, shall become immediately due thereupon upon demand, any and be paid, together with all expenses of every nature which Landlord may incur incurred in such removal and all storage charges against such property so long as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” same shall be computed in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by discounting such amount to present worth at a discount rate equal to one percentage point above Tenant within thirty (30) days after the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 end of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s optionhowever terminated, shall be conclusively presumed to have been conveyed by Tenant or its legal representatives will also pay to Landlord under this Lease as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amountin a xxxx of sale, if any, of the rents collected on account of the lease without further payment or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Intest Corp

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandoned the Premises as prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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 reasonable avoided; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the term of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The “worth at the time of award” of the amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of 18 percent per annum or the maximum lawful rate. The “worth at the time of award” of the amount referred to in Section (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) The “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the amount referred to in clause (ii) above is computed by determining the mathematical product of (I} the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Tenant acknowledges and agrees that the term “detriment proximately caused by Tenant’s failure to perform its obligations under this Lease” includes, without limitation, the value of any abated or free rent given to Tenant. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not tem1inate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951 .4, and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a tem1ination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and 110 waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms “enter,” “re-rental. For purposes of this clause (2), enter,” present worthentryshall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may or “re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason because of, any Landlord’s failure by Landlord to re-let relet the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting.

Appears in 1 contract

Samples: Lease Agreement (ArcLight Clean Transition Corp.)

Landlord’s Remedies. If the rent payable hereunder is not paid when due, or if Tenant shall otherwise be in breach of or in default under this Sublease, or if a petition is filed by or against Tenant under any federal or state law pertaining to bankruptcy, insolvency, or an arrangement with creditors, Landlord may without further notice reenter may, in any such event, at its option, enter the Subleased Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwisedeclare this Sublease and the tenancy hereby created terminated, as well as and in the legal representatives) event of Tenant such entry and/or other occupants) termination, Landlord shall be entitled to the benefit of all remedies granted to Prime Landlord under the Prime Lease together with the benefit of all provisions of the Premisespublic general laws of the State of Michigan and the public local laws of the City of Sterling Heights pertaining to the speedy recovery of lands and tenements. Notwithstanding such reentry and termination, and remove their effects and hold Tenant shall remain liable for rent or damages which may be due or sustained prior thereto. Additionally, Tenant shall pay as liquidated damages, the Premises as if amount of the rent reserved under this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent Sublease for the balance of the Term willterm, at less the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected received by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord during such period from others to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to whom the Subleased Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may have been re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and rented on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determinedetermines, but after deducting all expenses incurred by Landlord in the repossession and reletting of the Subleased Premises. In any action by Landlord against Tenant under this Sublease, Tenant waives all statutory and equitable rights of redemption. The rights and remedies of Landlord provided for herein shall be cumulative and shall be in addition to every other right or remedy provided for herein or now or hereafter existing at law or in equity, by statute or otherwise. The exercise at the beginning of the exercise by Landlord of any one or more rights or remedies shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure preclude the simultaneous or later exercise by Landlord to re-let the Premises of any or any failure by Landlord to collect any rent due upon such re-lettingall other rights and remedies.

Appears in 1 contract

Samples: Sublease (Michigan Community Bancorp LTD)

Landlord’s Remedies. On the occurrence of an Event of Default and at any ------------------- time thereafter during the continuance of such Event of Default, the Landlord may give written notice to the Tenant stating that this Lease and the Lease Term shall expire and terminate on the date specified in such notice, and except as otherwise herein provided, this Lease and the Lease Term and all rights of the Tenant under this Lease shall expire and terminate. Upon any such expiration or termination of this Lease, the Tenant shall quit and peacefully surrender the Demised Premises to the Landlord, and the Landlord, upon or at any time after any such expiration or termination, may without further notice reenter notice, enter upon and re-enter the Demised Premises either and possess and repossess themselves thereof, by force or otherwise and dispossess Tenant by force, summary proceedings proceedings, ejectment or otherwise, and may dispossess the Tenant and remove the Tenant and all other persons and property from the Demised Premises and may have, hold and enjoy the Demised Premises and the right to receive all rental income of and from the same. No expiration or termination of this Lease by Landlord as well as the legal representatives) above provided shall relieve Tenant of Tenant and/or other occupants) of the Premisesits liability and obligations under this Lease, and remove their effects such liability and hold obligations shall survive any such expiration or termination. In the Premises as if this Lease had event of an expiration or termination, whether or not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Demised Premises or any part thereofthereof shall have been relet, either Tenant shall pay to the Landlord the whole rent and other charges required to be paid by Tenant plus expenses of reletting, including fitting up the Demised Premises for a new tenant, any legal fees, brokers' commissions and other costs, but minus any rentals received from such reletting up to the time or expiration or termination of this Lease. Thereafter, Tenant, until the end of what would have been the term of the Lease in the name absence of such expiration or termination, shall be fully liable to 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also shall pay to Landlord such damages as liquidated damages any deficiency between may now or hereafter exist at law or in equity or by statute or otherwise in such cases, plus all collection costs incurred by Landlord, including reasonable attorney's fees. Landlord shall use its reasonable efforts to relet the Rent Demised Premises. The Tenant shall be fully liable to Landlord and shall pay to Landlord all Additional Rent hereby reserved and/or agreed to be paid and expenses incurred in enforcing the net amount, if any, obligations of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy aboveTenant under this Lease, including but not limited to all court costs and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingattorneys fees.

Appears in 1 contract

Samples: Aristotle Corp

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant's right of possession, and (but Tenant hereby waives shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant's right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of the award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary' to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the "worth at the election time of Landlord, be accelerated and the present worth of same for the balance award" of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 18 percent per annum or the maximum lawful rate. The "worth at the time of every nature which Landlord may incur such as award" of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) the "time of award" as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases which such abandonment of the Premises would constitute an Event of Default under Paragraph 23(iv) of this Lease, this Lease shall continue in effect for each month of the period which would otherwise have constituted the balance of the Term. If so long as Landlord exercises the remedy abovedoes not terminate Tenant's right to possession, and provided Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Tenant has paid Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Notwithstanding anything contained herein to the accelerated Rent as required by this Sectioncontrary, if Landlord terminates Tenant's right to possession without terminating the Lease after an Event of Default, Landlord shall remit use commercially reasonable efforts to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of relet the Premises; provided, however, (a) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor obligated to accept any tenant proposed by Tenant, (b) Landlord shall Tenant’s obligations hereunder be diminished by reason of, have the right to lease any failure other space controlled by Landlord to re-let the Premises or first, and (c) any failure by Landlord to collect any rent due upon such re-lettingproposed tenant shall meet all of Landlord's leasing criteria.

Appears in 1 contract

Samples: Lease Agreement (Celerity Group Inc)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant’s right of possession, and (but Tenant hereby waives shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of the award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the “worth at the election time of Landlord, be accelerated and the present worth of same for the balance award” of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 18 percent per annum or the maximum lawful rate. The “worth at the time of every nature which Landlord may incur such as award” of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) the “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may grant concessions or free rent or charge a higher rental than that reserved in enforce all its rights and remedies under this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay including the right to Landlord recover rent as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed it becomes due. This remedy is intended to be paid the remedy described in California Civil Code Section 1951.4 and the net amountfollowing provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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 anylessee has right to sublet or assign, subject only to reasonable limitations).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of the rents collected on account any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of the lease or leases surrender of the Premises for each month and/or a termination of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as by Landlord, in its sole discretionwhether by agreement or by operation of law, may determineit being understood that such surrender and/or termination can be Building No. 3: 40000 Xxxxxxx Xxxxxxxxx, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason ofXxxxxxx, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.XX

Appears in 1 contract

Samples: Lease Agreement (Volterra Semiconductor Corp)

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this ------------------- Lease, Landlord, at its option, and after the proper notice and cure period, but without further additional notice reenter or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant's right of possession of the Premises; or (b) terminate Tenant's right of possession of the Premises either without terminating this Lease; provided, however, that Landlord shall use its reasonable efforts, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In the event of the termination of this lease by force Landlord pursuant to (a) above, Landlord shall be entitled to recover from Tenant (i) all damages and other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted ---------- present value (at 6% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance ------------------------------- remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election date of termination of this Lease) after deduction (from such fair market rental value) of all of Landlord's anticipated expenses of reletting (unless Tenant's default occurs during the last 6 months of the Term, in which case Landlord's anticipated expenses of reletting shall not be deducted). 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). For purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by Landlord, in its sole, but reasonable, discretion. If the Premises are relet and a sufficient sum is not realized therefrom, 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), then 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 fails to relet the Premises, then Tenant shall pay to Landlord the sum of (x) the projected costs of Landlord's reasonable 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 present worth accelerated amount of same Base Rent and Additional Rent due under the Lease for the balance of the Term, net discounted at a rate of amounts actually collected six percent (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. 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 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, shall become immediately due thereupon upon demand, any and be paid, together with all expenses of every nature which Landlord may incur incurred in such removal and all storage charges against such property so long as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” same shall be computed in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by discounting such amount to present worth at a discount rate equal to one percentage point above Tenant within thirty (30) days after the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 end of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s optionhowever terminated, shall be conclusively presumed to have been conveyed by Tenant or its legal representatives will also pay to Landlord under this Lease as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amountin a xxxx of sale, if any, of the rents collected on account of the lease without further payment or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Maxwell Shoe Co Inc

Landlord’s Remedies. Landlord shall have the following remedies if Tenant is in default. (These remedies are not exclusive; they are cumulative and in addition to any remedies now or later allowed by law): Landlord may without further notice reenter terminate Tenant's right to possession of the Premises either at any time. No act by force or otherwise and dispossess Landlord other than giving notice to Tenant by summary proceedings or otherwiseshall terminate this Lease. Acts of maintenance, as well as the legal representatives) of Tenant and/or other occupants) of efforts to relet the Premises, and remove their effects and hold or the Premises as if appointment of a receiver on Landlord's initiative to protect Landlord's interest under this Lease shall not constitute a termination of Tenant's right to possession. Upon termination of Tenant's right to possession, Landlord has the right to recover from Tenant: (1) The worth at the time of award of any unpaid rent that had not been made, and earned at the time of termination of Tenant's right to possession; (2) The worth at the time of award of the amount by which the unpaid rent that would have been earned after the date of termination of Tenant's right to possession until the time of award exceeds the amount of such rental loss that Tenant hereby waives proves could have been reasonably avoided; (3) the service worth at the time of notice award of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent the amount by which the unpaid rent for the balance of the Term willterm after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; and (4) Any other reasonable amount, including court, attorney and collection costs, necessary to compensate Landlord for all detriment proximately caused by Tenant's default. The "worth" as used for Item 19(1) in this Paragraph 19 is to be computed by allowing interest at the election of Landlordmaximum rate an individual is permitted to charge by law or 12%, be accelerated and whichever is less. "The worth at the present worth of same for the balance time of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such award" as (by way of illustration and not limitationused for Item 19(2) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall Paragraph 19 is to be computed by discounting such the amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of termination of Tenant's right of possession. In the Premises. Landlord may re-let the Premises or event of any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required default by this SectionTenant, Landlord shall remit have the right to Tenant on a monthly basis until the Expiration Date apply any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent sums paid by Tenant to Landlord. If any rent, late charge or other amount then due under this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as LandlordLease, in its such order as Landlord shall elect in Landlord's sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Invivo Corp

Landlord’s Remedies. Termination. In the event of any default by Tenant, in addition to any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, to the extent the Premises are located in Arizona and any successor statute or similar law), Landlord will have the immediate right and option to terminate this Lease and all rights of Tenant hereunder. If Landlord elects to terminate this Lease then, to the extent permitted under applicable law, Landlord may without further notice reenter recover from Tenant: (i) the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as worth at the legal representativestime of award of any unpaid rent which had been earned at the time of such termination; plus (ii) the worth at the time of Tenant and/or other occupants) award of the Premises, and remove their effects and hold amount by which the Premises as if this Lease had not unpaid rent which would have been made, and earned after termination until the time of award exceeds the amount of such rent loss that Tenant hereby waives proves could have been reasonably avoided; plus (iii) the service worth at the time of notice award of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent the amount by which the unpaid rent for the balance of the Term willafter the time of award exceeds the amount of such rent loss that Tenant proves could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which, at in the election ordinary course of Landlordthings, be accelerated and the present worth of same for the balance of the Termresults therefrom including, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and but not limitation) those for limited to: attorneys’ feesfees and costs; brokers’ commissions; the costs of refurbishment, brokeragealterations, advertising, renovation and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location repair of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions removal (including the repair of any damage caused by such removal) and storage (or disposal) of Tenant’s personal property, equipment, fixtures, alterations, the tenant improvements and any other items which Tenant is required under this Lease to remove but does not remove, as well as the unamortized value of any free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s optionrent, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy abovereduced rent, and provided that Tenant has paid Landlord the accelerated Rent as required by this Sectionany tenant improvement allowance or other costs or economic concessions provided, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid paid, granted or incurred by Landlord to secure a replacement tenant including reasonable marketing/leasing coststhe extent unpaid, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlordthis Lease. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms As used in Subparagraphs 22(b) (which may be greater or less than the period which otherwise would have constituted the balance of the Termi) and on such terms and conditions (which may include concessions or free rent and alterations ii) above, the “worth at the time of award” is computed by allowing interest at the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let Interest Rate of 10% per annum (the Premises or any failure by Landlord to collect any rent due upon such re-letting“Interest Rate”).

Appears in 1 contract

Samples: Encore Capital Group Inc

Landlord’s Remedies. If the Tenant either fails to pay any rent or other monies owed to the Landlord may on the date it is due, and fails to cure such default within ten days after receipt of written or verbal notice from the Landlord, or is otherwise in default of any of its obligations or duties under this Agreement, then the Landlord may, without further notice reenter the Premises either by force being liable for prosecution or otherwise claim for damages, enter into and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of upon the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part thereof, either in and repossess the name Premises and any trade fixtures attached thereto, with or without terminating this lease and without prejudice to any of Landlord its remedies for rent, entry, possession, damages, or otherwisebreach of covenant and may, 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s its option, Tenant terminate this Agreement by giving written notice of its election to do so or may, at its legal representatives will also pay to Landlord as liquidated damages any deficiency between option, lease the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amountPremises, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone as the agent of the Tenant, or together otherwise and may, at its option, without notice or demand, declare all amounts due during the entire term of this lease to be immediately due and payable. Additionally, Landlord may, without being liable for prosecution or claim for damages, dispose of equipment or trade fixtures located on or within the Premises. The Tenant shall, without demand or further process of law, pay to the Landlord at the end of each month during the Term the difference between the rent due to the Landlord from the Tenant under this Agreement, including any increases in rent due under this Agreement, and the net receipts, if any, being received by the Landlord from the Premises (such net receipts to be calculated by deducting from the gross receipts the expenses incurred by the Landlord in connection with other premises, the re-letting of the Premises and performing the Tenant's obligations under this Agreement). If the rent for such term or terms (which may be greater or less re-letting the Premises is higher than the period which otherwise would monthly rent under this Agreement, then such excess rent shall belong to the Landlord and the Tenant will have constituted the balance no claim or right thereto. The failure or delay of the Term) Landlord in taking any action or pursuing any remedy in the event of a default by the Tenant may not be considered a waiver or consent by the Landlord. All remedies of Landlord hereunder and on such under applicable law shall be cumulative and the exercise of any one or more remedies shall not preclude the subsequent exercise of the same or other remedies. A waiver by the Landlord of any breach or default by the Tenant under the terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord this lease shall not be liable for nor shall Tenant’s obligations hereunder construed to be diminished by reason ofa waiver of any subsequent breach or default or of any other term or condition of this lease, any and a failure by of the Landlord to re-let assert any breach or to declare a default by the Premises Tenant shall not be construed to constitute a waiver thereof, so long as such breach or any failure by Landlord to collect any rent due upon such re-lettingdefault continues unremedied.

Appears in 1 contract

Samples: Office Lease Agreement

Landlord’s Remedies. Landlord may without further notice reenter In the Premises either event of any default by force or otherwise and dispossess Tenant by summary proceedings or otherwiseunder this Lease, as well as the legal representatives) of Tenant and/or other occupants) of the PremisesLandlord, at its option, and remove their effects after the proper notice and hold the Premises as if this Lease had not been madecure period, and Tenant hereby waives the service of but without additional notice of intention to re-enter or to institute legal proceedings to that end; and/or at demand from Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, as provided in Section 22.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant’s right of possession of the rents collected on account Premises; or (b) terminate Tenant’s right of the lease or leases possession of the Premises without terminating this Lease; provided, however, that Landlord shall use its reasonable efforts, whether Landlord elects to proceed under Subsections (a) or (b) above, to relet the Premises, or any part thereof for each month the account of Tenant, for such rent and term and upon such terms and conditions as are acceptable to Landlord. In the event of the period which would otherwise have constituted the balance termination of the Term. If this Lease by Landlord exercises the remedy pursuant to (a) above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit be entitled to recover from Tenant on a monthly basis until (i) all damages and other sums that Landlord 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 Expiration Date period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Xxxxxx has agreed to indemnify Landlord, under any amounts actually collected 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 result matter of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costslaw including, fees and commissionswithout limitation, and costs of preparing improvements and refurbishment an amount equal to the Premises 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 replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance remainder of the TermTerm (measured from the effective termination date of this Lease) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.and

Appears in 1 contract

Samples: Lease

Landlord’s Remedies. Landlord shall have the following remedies if Tenant is in default. (These remedies are not exclusive; they are cumulative and in addition to any remedies now or later allowed by law): Landlord may without further notice reenter terminate Tenant's right to possession of the Premises either at any time. No act by force or otherwise and dispossess Landlord other than giving notice to Tenant by summary proceedings or otherwiseshall terminate this Lease. Acts of maintenance, as well as the legal representatives) of Tenant and/or other occupants) of efforts to relet the Premises, and remove their effects and hold or the Premises as if appointment of a receiver on Landlord's initiative to protect Landlord's interest under this Lease had shall not been madeconstitute a terminxxxxx xx Tenant's right to possession. Upon termination of Tenant's right to possession, and Tenant hereby waives Landlord has the service of notice of intention right to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for recover from Tenant: (1) the balance worth of the Term will, unpaid Rent that had been earned at the election time of Landlord, be accelerated and termination of Tenant's right to possession; (2) the present worth of same for the balance amount of the Term, unpaid Rent that would have been earned after the date of termination of Tenant's right to possession less the amount that Tenant proves Landlord should be able to earn during such period net of amounts actually collected all releasing costs; (3) any other amount, including but not limited to, expenses incurred to relet the Premises, court, attorney and collection costs, necessary to compensate Landlord for all detriment caused by LandlordTenant's default. "The Worth," as used for Item (1) in this Paraxxxxx 21 is to be computed by allowing interest at the rate of 18 percent per annum. If the interest rate specified in this Lease is higher than the rate permitted by law, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such the interest rate is hereby decreased to the maximum legal interest rate permitted by law. "The Worth" as (by way of illustration and not limitation) those used for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause Item (2), “present worth” shall ) in this Paragraph 21 is to be computed by discounting such the amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of the Premises. Landlord may re-let the Premises or any part thereof, either in the name termination 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 Tenant's right of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingpossession.

Appears in 1 contract

Samples: Work Letter Agreement (Neah Power Systems, Inc.)

Landlord’s Remedies. Landlord shall have the following remedies if Tenant is in default. (These remedies are not exclusive; the are cumulative and in addition to any remedies now or later allowed by law): Landlord may without further notice reenter terminate Tenant's right to possession of the Premises either at any time. Tenant hereby grants Landlord full and free right, whether by force changing or otherwise picking of locks if necessary, to enter and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of repossess the Premises, with or without process of law. Tenant releases Landlord of any liability for any damage resulting therefrom and remove their effects and hold waives any right to claim damage for such re-entry. Xxxxxx also agrees that Xxxxxxxx has not waived or relinquished any other right given to it hereunder or by operation of law. No act by Landlord other than giving notice to Tenant shall terminate this Lease. Acts of maintenance, efforts to relet the Premises as if Premises, or the appointment of a receiver on Landlord's initiative to protect Xxxxxxxx's interest under this Lease had shall not been madeconstitute a termination of Tenant's right to possession. Upon termination of Xxxxxx's right to possession, and Tenant hereby waives Landlord has the service of notice of intention right to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance recover from Tenant: (1) The worth of the Term will, unpaid rent that had been earned at the election time of Landlord, be accelerated and the present termination of Tenant's right to possession; (2) The worth of same for the balance amount of the Termunpaid rent that would have been earned after the date of termination of Tenant's right to possession; (3) Any other amount, net including court, attorney and collection costs, necessary to compensate Landlord for all detriment proximately caused by Tenants default. "The Worth," as used for Item 20(1) in this Paragraph 20 is to be computed by allowing interest at the maximum rate an individual is permitted to charge by law or 12%, whichever is greater. "The worth at the time of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such the award" as (by way of illustration and not limitationused for Item 20(2) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall Paragraph 20 is to be computed by discounting such the amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of the Premises. Landlord may re-let the Premises or any part thereof, either in the name termination 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 Tenant's right of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingpossession.

Appears in 1 contract

Samples: Integcom Corp

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable proper notice and cure period (as required pursuant to Section 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to ail other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant’s right of possession of the Premises; or (b) terminate Tenant’s right of possession of the Premises either without terminating this Lease; provided, however, that Landlord shall use its reasonable efforts, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its sole, but reasonable, discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value (at 6% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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 is 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, when payments of Base Rent become due. 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), be accelerated 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 present worth of same for the balance of the Termevent Landlord elects, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as pursuant to clause (by way of illustration and not limitationb) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2)Section 22.2, “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location terminate Tenant’s right of the Premises. Landlord may re-let the Premises or any part thereofpossession only, 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in without terminating this Lease; and/or , Landlord may, at Landlord’s option, enter into the Premises, remove Tenant’s Property, Tenant’s signs and other evidences of tenancy, 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 accruing prior to the date of such dispossession. Any and all property that may be removed from the Premises by Landlord pursuant to the authority of the Lease or its legal representatives will also 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 in no event or circumstance shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord as liquidated damages Landlord, upon demand; any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to expenses incurred in such removal and all storage charges against such property so long as the same shall be paid and 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 net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance end of the Term. If , however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord exercises the remedy aboveunder this Lease as in a xxxx of sale, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid without further payment or credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Digital Lightwave Inc

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant’s right of possession of the Premises; or (b) terminate Tenant’s right of possession of the Premises either without terminating this Lease; provided, however, that Landlord shall use commercially reasonable efforts to, whether Landlord elects to proceed under Subsections (a) or (b) above, 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 and commercially reasonable. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its reasonable discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value (at 10% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election date of termination of this Lease). 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 10% 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, be 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 present worth of same Lease for the balance of the Term, net discounted to present value (a rate of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which 6% per annum). Tenant agrees that Landlord may incur file suit to recover any sums due to Landlord hereunder from time to time and that such as 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 (by way of illustration b), then Landlord shall at any time have the further right and not limitationremedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to clause (b) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2)Section 22.2, “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location terminate Tenant’s right of the Premises. Landlord may re-let the Premises or any part thereofpossession only, 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in without terminating this Lease; and/or , 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 its legal representatives will also 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 as liquidated damages Landlord, upon demand, any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to expenses incurred in such removal and all storage charges against such property so long as the same shall be paid and 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 net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance end of the Term. If , however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord exercises the remedy aboveunder this Lease as in a bxxx of sale, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid without further payment or credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Makemusic Inc

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant's right of possession of the Premises; or (b) terminate Tenant's right of possession of the Premises either without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its sole, but - reasonable, discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value (at 6% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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, be 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 present worth of same Lease for the balance of the Term, net discounted to present value at a rate of amounts actually collected 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 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, shall become immediately due thereupon upon demand, any and be paid, together with all expenses of every nature which Landlord may incur incurred in such removal and all storage charges against such property so long as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” same shall be computed in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by discounting such amount to present worth at a discount rate equal to one percentage point above Tenant within 30 days after the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 end of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s optionhowever terminated, shall be conclusively presumed to have been conveyed by Tenant or its legal representatives will also pay to Landlord under this Lease as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amountin a xxxx of sale, if any, of the rents collected on account of the lease without further payment or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costsTenant. However, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord foregoing shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by release or absolve Landlord of its obligation to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingreasonably mitigate damages.

Appears in 1 contract

Samples: Wentworth Ii Inc

Landlord’s Remedies. Landlord may In the event of any breach of this Lease by Tenant, Landlord, at its option, without further notice reenter the Premises either by force or otherwise demand to Tenant, may, in addition to all other rights and dispossess Tenant by summary proceedings remedies provided in this Lease, at law or otherwise, as well as the legal representativesin equity: (a) terminate this Lease and Tenant's right of Tenant and/or other occupants) possession of the Premises, and remove their effects and hold the Premises as if this Lease had not been maderecover all damages to which Landlord is entitled under law, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All specifically including, without limitation, Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by all Landlord, shall become immediately due thereupon and be paid, together with all 's expenses of every nature which Landlord may incur such as reletting (by way including repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions), or (b) terminate Tenant's right of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing possession of the Premises without terminating this Lease, in good order which event Landlord may, but shall not be obligated to, relet the Premises, or preparing them any part thereof for re-rentalthe account of Tenant, for such rent and term and upon such terms and conditions as are acceptable to Landlord. For purposes of this clause (2)such reletting, “present worth” shall be computed by discounting such amount Landlord is authorized to present worth at a discount rate equal to one percentage point above decorate, repair, alter and improve the discount rate then in effect at the Federal Reserve Bank nearest Premises to the location of the Premisesextent reasonably necessary. If Landlord may re-let 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 expenses of reletting (including repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions) to satisfy the payment when due of Rent reserved under this Lease for any part monthly period, then Tenant shall pay Landlord, a sum equal to the amount of Rent due under this Lease for each such monthly period, or if the Premises have been relet, Tenant shall pay such deficiency monthly. Tenaxx xxxees 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. In the event Landlord elects, pursuant to this subsection (b) of this Section 12.02, to terminate Tenant's right of possession only without terminating this Lease, Landlord may, at Landlord's option, enter into the Premises, remove Tenaxx'x xigns and other evidences of tenancy, and take and hold possession thereof, either as provided in Article 13 hereof; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenaxx'x xbligation to pay the name Rent reserved hereunder for the full Term or from any other obligation of Landlord or otherwise, for a term or terms 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’s option , upon demand, any and all expenses incurred in such removal and all storage charges against such property so long as the same shall be less than in Landlord's possession or exceed under Landxxxx'x xontrol. Any such property of Tenant not retaken from storage by Tenant within thirty (30) days after the period which would otherwise have constituted the balance end of the Term, and may grant concessions however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as a bill of sale without further payment or free rent or charge credit by Landlord to Tenant. Tenant hereby grants to Landlord a higher rental than that reserved in 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/or at Landlord’s option, Tenant or its legal representatives will also pay and Landlord shall be entitled as a matter of right to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed have a receiver appointed to be paid and the net amount, if any, of the rents collected on account of the lease or leases take possession of the Premises for each month and relet the same under order of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingcourt.

Appears in 1 contract

Samples: National Techteam Inc /De/

Landlord’s Remedies. If a Suite 1500 CW Over-Load Condition occurs, then, in addition to any other rights and remedies Landlord may have under the Lease, at law and/or in equity, the following shall apply: (i) Tenant shall take such actions as are necessary to cause the cessation of such Suite 1500 CW Over-Load Condition as soon as possible after Tenant has knowledge thereof; and (ii) Tenant shall indemnify, defend, protect, and hold harmless Landlord and the Landlord Parties from and against all Claims to the extent arising from the occurrence of such Suite 1500 CW Over-Load Condition. If a Suite 1500 CW Over-Load Condition continues for more than 48 consecutive hours after Landlord delivers notice to Tenant thereof, then Landlord may, without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwisenotice, take such actions as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at are necessary in Landlord’s option. All Rent for sole and absolute discretion, to cause the balance cessation of such Suite 1500 CW Over-Load Condition (including shutting off condenser water to the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected connections through which Tenant draws Suite 1500 Condenser Water) (any such action by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which a “Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2CW Curative Action”), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy abovetakes any Landlord CW Curative Action, and provided that then Tenant has paid shall, within 30 days after Tenant’s receipt of an invoice therefor, reimburse Landlord the accelerated Rent as required by this Sectionfor all actual, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected out-of-pocket costs incurred by Landlord as in taking such Landlord CW Curative Action, plus interest thereon at 10% per annum from the date incurred. If a result Suite 1500 CW Over-Load Condition occurs more than 2 times during any consecutive 12 month period, then within 10 days after Tenant’s receipt of are letting remaining a written request from Landlord therefor, Tenant shall modify the connections to Suite 1500 from the Condenser Water System such that, after subtracting therefrom all reasonable costs paid the completion of such work, a Suite 1500 CW Over-Load Condition cannot physically occur (such work, a “Tenant Suite 1500 Condenser Water Action”). Each Tenant Suite 1500 Condenser Water Action shall be performed by Landlord to secure a replacement tenant including reasonable marketing/leasing costsTenant, fees at Tenant’s cost and commissionsexpense, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together and in accordance with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance Article 8 of the Term) Original Lease and on such terms and conditions (which may include concessions or free rent and alterations the applicable provisions of Section 2.1 of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let Summary and Section 6.9 of the Premises or any failure by Landlord to collect any rent due upon such re-lettingOriginal Lease.

Appears in 1 contract

Samples: Lease (CoreSite Realty Corp)

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after the proper notice and cure period, if any, as provided in Section 21.2 has expired, without further notice reenter the Premises either by force or demand to Tenant, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) Tenant's right of Tenant and/or other occupants) possession of the Premises, and remove their effects recover all damages to which Landlord is entitled under law, specifically including, without limitation, accelerated Base Rent and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Additional Rent attributable to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will(discounted to present value if recovered and paid in a single lump sum), at and all Landlord's expenses of reletting the election Premises (including repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions), or (b) terminate Tenant's right of Landlordpossession of the Premises without terminating this Lease; provided, be accelerated and however, that Landlord shall use its reasonable efforts, whether Landlord elects to proceed under Subsections (a) or (b) above, to relet the present worth of same Premises, or any part thereof for the balance account of Tenant, for such rent and term and upon such terms and conditions as are acceptable to Landlord. If Landlord shall elect to pursue its rights and remedies under Subsection (b), then Landlord shall at any time have the Termfurther right and remedy to rescind such election and pursue its rights and remedies under Subsection (a), net of amounts actually collected by including but not limited to such time as Landlord has obtained a tenant to relet the Premises, which, in Landlord's reasonable judgment, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rentalis a suitable tenant. For purposes of this clause (2)such reletting, “present worth” shall be computed by discounting such amount Landlord is authorized to present worth at a discount rate equal to one percentage point above decorate, repair, alter and improve the discount rate then in effect at the Federal Reserve Bank nearest Premises to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required extent deemed necessary by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole and absolute discretion. If Landlord fails to relet the Premises or if the Premises are relet and a sufficient sum is not realized therefrom, after payment of all Landlord's expenses of reletting (including repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions), to satisfy the payment, when due, of Base Rent and Additional Rent reserved under this Lease for any monthly period, then Tenant shall pay to Landlord a sum equal to the accelerated amount of Base Rent and Additional Rent due under this Lease attributable to the balance of the Term (discounted to present value if recovered and paid in a single lump sum), or if the Premises have been relet, Tenant shall pay any such deficiency monthly. Tenant agrees that Landlord may determine, but 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 liable any defense to any subsequent action brought for nor any amount not theretofore reduced to judgment in favor of Landlord. 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’s obligations , 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 diminished removed from the Premises by reason ofLandlord 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 in no event or circumstance shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any failure 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 end of the Term, however terminated, shall at Landlord's option be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as in a xxxx of sale. If Landlord elects such option, then Landlord agrees to re-let use commercially reasonable efforts to sell such property of Tenant (either by public or private sale), and the Premises or net proceeds realized from the sale (after deducting Landlord's costs and expenses of storage and of organizing, advertising and completing the sale) shall be applied against the sums owing by Tenant to Landlord under this Lease. Tenant agrees to sign such instruments of conveyance as may be necessary to complete any failure such sale(s), notwithstanding that all of Tenant's rights to and interests in such property will conclusively be deemed to have been conveyed to Landlord by Landlord to collect any rent due upon such re-lettingthe express terms of this Lease.

Appears in 1 contract

Samples: Gantos Inc

Landlord’s Remedies. Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent and all Additional Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Lease Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the PremisesCenter. If such termination shall take place after the expiration of two or more Lease Years, then, for purposes of computing the accelerated Rent, the Annual Percentage Rent payable with respect to each Lease Year following termination (including the Lease Year in which such termination shall take place) shall be conclusively presumed to be equal to the average Annual Percentage Rent payable with respect to each complete Lease Year preceding termination. If such termination shall take place before the expiration of two Lease Years, then, for purposes of computing the accelerated Rent, the Annual Percentage Rent payable with respect to each Lease Year following termination (including the Lease Year in which such the unexpired Term shall be conclusively presumed to be a sum equal to twenty-five percent (25%) of the annual Minimum Rent due and payable during such unexpired Term; and/or at Landlord’s option. Landlord may re-let the Premises or any part 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 or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, . Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Lease Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Sectionparagraph, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are a re-letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, terminated pursuant to Section 23.5(A) (2) Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Lease (Radiation Therapy Services Holdings, Inc.)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant's right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwiseany other action or proceeding authorized by law and to remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, as well as Landlord shall have the legal representativesright to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: (a) all Base Rent and all other amounts accrued hereunder to the date of Tenant and/or other occupantssuch termination; (b) the cost of reletting the whole or any part of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; including without limitation brokerage fees and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected leasing commissions incurred by Landlord, and costs of removing and storing Tenant's or any other occupant's property, repairing the Premises and restoring the same to the condition it was in prior to the execution hereof, (c) in lieu of remodeling the Premises to a condition acceptable to a new tenant or tenants, paying to the Landlord the "Unamortized Tenant Improvement Allowance" which shall become immediately due thereupon be an amount equal to the product of (1) a fraction, the numerator of which is the number of days remaining in the initial Lease Term (without taking into account extension options contained herein) and be paid, together with all expenses the denominator of every nature which Landlord may incur such as is the total number of days in the original Lease Term (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertisingwithout taking into account extension options contained herein), and refurbishing (2) the total Tenant Improvement Allowance provided by Landlord to Tenant pursuant to paragraph 52 hereof, (d) all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys' fees and court costs; and (e) the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises in good order or preparing them for re-rentalsuch period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. For purposes of this clause (2), “Such present worth” values shall be computed by discounting such amount to present worth calculated at a discount rate equal to one percentage point above the discount 90-day U.S. Treasury xxxx rate then in effect at the Federal Reserve Bank nearest date of such termination. If Landlord terminates Tenant's right of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord, at Landlord's cost, but preserving Landlord's right to collect the damages specified in the preceding paragraph, is authorized to make any repairs, changes, alterations, or additions in or to the location of the PremisesPremises as Landlord deems reasonably necessary or desirable. Landlord may re-let If the Premises or any part thereofare not relet, 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, then Tenant or its legal representatives will also shall pay to Landlord as liquidated damages any deficiency between a sum equal to the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, amount of the rents collected on account rental reserved in this Lease for such period or periods, plus the cost of the lease or leases recovering possession of the Premises for each month (including attorneys' fees and costs of suit), the period which would otherwise have constituted unpaid Base Rent and other amounts accrued hereunder at the balance time of the Term. If Landlord exercises the remedy aboverepossession, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until costs described in the Expiration Date preceding paragraph incurred in any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid attempt by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.relet the

Appears in 1 contract

Samples: Lease Agreement (Homegrocer Com Inc)

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant’s right of possession of the Premises; or (b) terminate Tenant’s right of possession of the Premises either without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its reasonable discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) the Rent provided to be paid for the remainder of Tenant and/or other occupantsthe 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, and remove their effects and hold then Tenant shall pay to Landlord the Premises as if this Lease had not been made, and Tenant hereby waives sum of (x) the service projected costs of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All 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 for and Additional Rent due under the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same Lease for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount discounted to present worth value at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to discount rate in effect on the location date of the PremisesLandlord’s demand. Tenant agrees that Landlord may re-let 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 Premises or any part thereoffurther right and remedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, either in the name pursuant to subsection (b) of Landlord or otherwisethis Section 22.2, for a term or terms which may at Landlordto terminate Tenant’s option be less than or exceed the period which would otherwise have constituted the balance right of the Termpossession only, and may grant concessions or free rent or charge a higher rental than that reserved in without terminating this Lease; and/or , 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 its legal representatives will also 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 as liquidated damages Landlord, upon demand, any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to expenses incurred in such removal and all storage charges against such property so long as the same shall be paid and 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 net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance end of the Term. If , however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord exercises the remedy aboveunder this Lease as in a xxxx of sale, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid without further payment or credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Datalink Corp

Landlord’s Remedies. In 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 remedies provided by Law or otherwise provided in this Lease, to which Landlord may resort cumulatively, or in the alternative: 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 further 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 form violating the terms of this Lease and/or to compel Tenant to perform its obligations under this Lease, as the case may be. Landlord may, at Landlord's election, terminate this Lease by giving Tenant written notice reenter of termination, in which event this Lease shall terminate on the date set forth for termination in such notice. Any termination under this Subarticle shall not relieve Tenant form 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: Appointment of a receiver or keeper in order to protect Landlord's interest hereunder; Consent to any subletting of the Leased Premises either or assignment of this Lease by force or otherwise and dispossess Tenant by summary proceedings Tenant, whether pursuant to the provisions hereof or otherwise; or 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. 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. 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 as it becomes due under this Lease as provided in California Civil Code Section 1951.4, as well in effect on the Effective Date of this Lease. 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 legal representativesEffective Date of this Lease. For purposes of computing damages pursuant to Section 1951.2, an interest rate equal not to exceed twelve percent (12%) rate of Tenant and/or other occupants) interest then not prohibited by Law shall be used where permitted. Such damages shall include, without limitation: The worth at the time of award of the Premises, and remove their effects and hold amount by which the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent unpaid rent for the balance of the Term willterm after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest of San Francisco, at the time of award plus one percent; less any offset due to rental received during the location period of default; and Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's failure to perform Tenant's obligations under this Lease, or which in the 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; (ii) expenses for altering, remodeling or otherwise improving the Leased Premises for the purposes of 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 allowance 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 Leased Premises. Landlord may , establishing damages hereunder, and re-let leasing the Premises Leased Premises; and (vii) any other expenses, costs or any part thereof, either in the name of Landlord damages other wise incurred 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord suffered as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting's default.

Appears in 1 contract

Samples: Industrial Space Lease (Gatefield Corp)

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant’s right of possession of the Premises; or (b) terminate Tenant’s right of possession of the Premises either without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its sole discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value (at 6% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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, be 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 present worth of same Lease for the balance of the Term, net discounted to present value at a rate of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which 6% per annum. Tenant agrees that Landlord may incur file suit to recover any sums due to Landlord hereunder from time to time and that such as 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 (by way of illustration b), then Landlord shall at any time have the further right and not limitationremedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to clause (b) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2)Section 22.2, “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location terminate Tenant’s right of the Premises. Landlord may re-let the Premises or any part thereofpossession only, 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in without terminating this Lease; and/or , 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 its legal representatives will also 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 as liquidated damages Landlord, upon demand, any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to expenses incurred in such removal and all storage charges against such property so long as the same shall be paid and 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 net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance end of the Term. If , however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord exercises the remedy aboveunder this Lease as in a xxxx of sale, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid without further payment or credit by Landlord to secure a replacement tenant including Tenant. For purposes of determining any recovery of rent or damages by Landlord that depends upon what Landlord could collect by using reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment efforts to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of relet the Premises) as Landlord, in its sole discretionthe event such determination is required by applicable law notwithstanding the foregoing waiver by Tenant, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.it is understood and agreed that:

Appears in 1 contract

Samples: Liquidity Services Inc

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandoned the Premises as prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the term of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The “worth at the time of award” of the amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of 18 percent per annum or the maximum lawful rate. The “worth at the time of award” of the amount referred to in Section (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) The “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the amount referred to in clause (ii) above is computed by determining the mathematical product of (1) the reasonable annual rental value and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Tenant acknowledges and agrees that the term “detriment proximately caused by Tenant’s failure to perform its obligations under this Lease” includes, without limitation, the value of any abated or free rent given to Tenant. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4, and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord and Tenant shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord or Tenant at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord or Tenant to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of such party’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms “enter,” “re-rental. For purposes of this clause (2), enter,” present worthentryshall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may or “re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its reasonable discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason because of, any Landlord’s failure by Landlord to re-let relet the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting. Notwithstanding anything in this Section 24, Landlord will have the obligation to act reasonably to mitigate any damages it may suffer as a result of a default by Tenant; provided, however, (a) Landlord shall not be obligated to accept any tenant proposed by Tenant, (b) Landlord shall not be required to give preference to the Premises over any other available space controlled by Landlord, and (c) any proposed tenant shall meet all of Landlord’s leasing criteria.

Appears in 1 contract

Samples: Lease Agreement (Stemcells Inc)

Landlord’s Remedies. For so long as any Event of Default continues, Landlord may without further notice reenter at any time elect to: (a) terminate this Lease, (b) terminate Tenant's right of possession of the Premises either (but Tenant shall remain liable as hereinafter provided), and/or (c) pursue any other remedies at law or in equity. Upon the termination of this Lease, or termination of Tenant's right of possession, Landlord may, without formal demand or notice except as required by force Legal Requirements, re-enter the Premises by any action or otherwise proceeding authorized by law, and dispossess Tenant by summary proceedings or otherwiseremove Tenant, as well as the legal representatives) of Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place, or remove and remove their effects and hold store, all property at the Premises as if at Tenant’s expense. In the event Landlord delivers three notices of an Event of Default under this Lease had not been madein any twelve-month period, any subsequent failure to comply with this Lease shall be deemed an Immediate Event of Default. The term “Immediate Event of Default” shall mean Tenant has no cure period, and Landlord may immediately pursue all of its remedies. Except as otherwise provided in the next paragraph, if Tenant hereby waives breaches this Lease and abandons the service Premises prior to the end of notice the Lease Term, or if Xxxxxx's right to possession is terminated by Landlord because of intention to re-enter or to institute legal proceedings to an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent, Operating Expenses, and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All Rent the time of award of the amount by which the reasonable value of the unpaid Base Rent, Operating Expenses, and other charges under this Lease 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 reasonable avoided; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent, Operating Expenses, and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Xxxxxx's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The "worth at the election time of Landlord, be accelerated and the present worth of same for the balance award" of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 18 percent per annum or the maximum lawful rate. The "worth at the time of every nature which Landlord may incur such as award" of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) The "time of award" as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise(1) the annual Base Rent, for a term or terms which may at Landlord’s option be less than or exceed Operating Expenses, and other charges under this Lease and (2) the period which would otherwise have constituted number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Tenant acknowledges and agrees that the term “detriment proximately caused by Xxxxxx's failure to perform its obligations under this Lease” includes, and may grant concessions without limitation, the value of any abated or free rent given to Tenant. Even though Xxxxxx has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. [This remedy is intended to be the remedy described in California Civil Code Section 1951.4, and the following provision from such Civil Code Section is hereby repeated: "The Lessor has the remedy described in California Civil Code Section 1951.4 (lessor may continue lease in effect after xxxxxx's breach and abandonment and recover rent as it becomes due, if lessee has right to sublet or charge assign subject only to reasonable limitations)." Tenant shall immediately pay any such deficiency upon demand. Xxxxxx agrees that Landlord may file suit to recover any sums as they become due. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Xxxxxxxx’s exercise of any remedies shall not be deemed an acceptance of surrender of the Premises and/or a higher rental than termination of this Lease. Landlord’s failure to enforce its rights under this Lease strictly in accordance the terms hereof shall not modify this Lease or create a custom contrary to the specific provisions of this Lease. Tenant and Landlord further agree that reserved forbearance or waiver by Landlord to enforce its rights pursuant to this Lease, or at law or in equity, shall not waive its rights or remedies in connection with any subsequent Event of Default. No waiver by Landlord of any Lease provision shall be effective unless in writing and signed by Landlord, even if Landlord accepts Xxxxxx’s payments with knowledge of Tenant’s breach of the Lease. Tenant waives all right of redemption following termination of the Lease or Xxxxxx’s right of possession by a judgment or warrant of any court. In the event Landlord exercises self-help, or lock-out, remedies as provided by law Tenant waives all claims against Landlord for business loss, business interruption, or any other damages resulting from Xxxxxxxx's self-help or lock-out. The terms "enter," "re-enter," "entry" or "re-entry," as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Termmeanings. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting26.

Appears in 1 contract

Samples: Virco MFG Corporation

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease of termination of Tenant’s right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandoned the Premises as prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California; (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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 reasonable avoided: (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the term of this Lease after time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The “worth at the time of award” of the amounts referred to in Section (i) and (ii) is computed by allowing interest at the lessor of 18 percent per annum or the maximum lawful rate. The “worth at the time of award” of the amount referred to in Section (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) the “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgement is entered by a court of competent jurisdiction; (c) The “reasonable value” of the amount referred in the (ii) above is computed by determining the mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Tenant acknowledges and agrees that the term “detriment proximately causes by Tenant’s failure to perform its obligations under this Lease” includes, without limitation, the value of any abated or free rent given to Tenant. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4, and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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.)” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such relating without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its right under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its right pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms “enter,” “re-rental. For purposes of this clause (2), enter,” present worthentryshall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may or “re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different then the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason become of, any Landlord’s failure by Landlord to re-let refer the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting.

Appears in 1 contract

Samples: Fremont Facility Lease Agreement (Spinal Elements Holdings, Inc.)

Landlord’s Remedies. Landlord may without further notice reenter RE-LETTING. In the event of the vacation or abandonment of the Premises either by force Tenant or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as in the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention event that Landlord elects to re-enter the Premises or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance takes possession of the Term willPremises pursuant to legal proceeding or pursuant to any notice provided by law, at the election of Landlordthen if Landlord does not elect to terminate this Lease, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such from time to time, without terminating this Lease, either recover all rent as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order it becomes due or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let relet the Premises or any part thereofthereof on terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises in connection with such reletting. If Landlord elects to relet the Premises, either in then rents received by Landlord from such reletting will be applied: first, to the name payment of Landlord or otherwiseany indebtedness other than rent due hereunder from Tenant to Landlord; second, for a term or terms which may at Landlord’s option be less than or exceed to the period which would otherwise have constituted payment of any cost of such reletting; third, to the balance payment of the Termcost of any alterations and repairs to the Premises incurred in connection with such reletting; fourth, to the payment of rent due and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid unpaid hereunder and the net amountresidue, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected will be held by Landlord and applied to payment of future rent as a result the same may become due and payable hereunder. Should that portion of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costssuch rents received from such reletting during any month, fees and commissions, and costs of preparing improvements and refurbishment which is applied to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminatedpayment of rent hereunder, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) rent payable during that month by Tenant hereunder, then Tenant agrees to pay such deficiency to Landlord immediately upon demand therefor by Landlord. Such deficiency will be calculated and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingpaid monthly.

Appears in 1 contract

Samples: Office Building Lease (Exe Technologies Inc)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant's right of possession, and (but Tenant hereby waives shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenants and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant's right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the "worth at the election time of Landlord, be accelerated and the present worth of same for the balance award" of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 18 percent per annum or the maximum lawful rate. The "worth at the time of every nature which Landlord may incur such as award" of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) The "time of award" as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The "reasonable value" of the amount referred to in clause (iii) computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord doe not terminate Tenant's right to possession, and Landlord may grant concessions or free rent or charge a higher rental than that reserved in enforce all its right and remedies under this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay including the right to Landlord recover rent as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed it becomes due. This remedy is intended to be paid the remedy described in California Civil Code Section 1951.4, and the net amountfollowing provision from such Civil Code Section is hereby repeated: "The Lessor has the remedy described in California Civil Code Section 1951.4 (lessor may continue lease in effect after leasee's breach and abandonment and recover rent as it becomes due, if anyleasee has right to sublet or assign, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, subject only to reasonable limitations)." Any such payments due Landlord shall remit be made upon demand therefor from time to time and Tenant on a monthly basis until the Expiration Date agrees that Landlord may file suit to recover any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord sums falling due from time to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenanttime. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminatedNotwithstanding any such reletting without termination, Landlord may re-let the Premises or at any part thereof, alone or together with other premises, time thereafter elect in writing to terminate this Lease for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingprevious breach.

Appears in 1 contract

Samples: Lease Agreement (CVC Inc)

Landlord’s Remedies. Landlord may without further notice reenter Without limitation of all other rights and remedies provided in this Lease, or otherwise at law or in equity, except that any re-entry of the Premises either by force or otherwise Landlord shall be by legal process, upon any Default, Landlord may, at its sole option: (A) terminate this Lease and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) Tenant’s right of Tenant and/or other occupants) possession of the PremisesPremises by giving to the Tenant three (3) days’ notice of termination of this Lease and, in the event such notice is given, this Lease and remove their effects the Term shall come to an end and hold expire upon the expiration of said three (3) days with the same effect as if the date of expiration of said three (3) days were the Expiration Date expressly set forth in this Lease, but Tenant shall remain liable for damages and all other sums payable pursuant to law; or (B) terminate Tenant’s right of possession of the Premises as if without terminating this Lease had not been madeLease; provided, and Tenant hereby waives the service of notice of intention however, that Landlord may, whether Landlord elects to proceed under Subparagraphs (A) or (B) above, re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part thereof, without notice, either in the name of Landlord by summary proceedings or otherwise, for a term by any other applicable legal action or terms which may at Landlord’s option be less than or exceed the period which would otherwise have constituted the balance of the Termproceeding, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or repossess the Premises and dispossess the Tenant and any other persons from the Premises and remove any and all of their property and effects from the Premises including the Tenant’s Property and Landlord, at the Landlord’s option, may relet the Premises, or any part thereof for the account of Tenant, for such commercially reasonable rent and term and upon such commercially reasonable terms and conditions, including, without limitation, concessions and free rent periods, as are acceptable to Landlord. For purposes of any reletting, at Tenant’s sole cost and expense, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed commercially reasonably necessary by Landlord to relet the Premises (“Reletting Improvement Costs”). 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 its legal representatives will also future Laws to redeem the 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 the Term, whether such dispossess, re-entry, expiration or termination shall be by operation of law or pursuant to the provisions of this Lease. In the event that the relation of Landlord and Tenant may cease or terminate by reason of the re-entry of the Landlord under the terms and covenants contained in this Lease or by the ejectment of Tenant by summary proceedings, or after the abandonment of the Premises by Tenant, it is hereby agreed that Tenant shall remain liable and shall pay in monthly payments the Base Rent (and any Additional Rent and other charges payable by Tenant hereunder) which accrues subsequent to the re-entry by Landlord, and Tenant expressly agrees to pay as damages for the breach of the covenants herein contained, the difference between the Rent and the rent collected and received, if any, by Landlord as liquidated damages any during the remainder of the unexpired term, such difference or deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, rent collected if any, shall become due and payable in monthly payments during the remainder of the rents collected on account unexpired term, or earlier termination of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If this Lease by Landlord exercises the remedy pursuant to Subparagraph (A) above, and provided that Tenant has paid Landlord as the accelerated Rent as required by this Section, amounts of such difference or deficiency shall from time to time be ascertained (the “Deficiencies”). Whether or not Landlord shall remit have collected any monthly Deficiencies as aforesaid, but subject to Tenant on a application of all monthly basis until the Expiration Date any amounts actually Deficiencies collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to from Tenant pursuant to the immediately preceding sentence exceed or otherwise under this Lease, in the accelerated Rent paid by Tenant to Landlord. If event of the termination of this Lease is terminatedby Landlord pursuant to Subparagraph (A) above, Landlord may re-let shall be entitled to recover from Tenant (1) all damages and other sums that Landlord is entitled to recover under any provision of this Lease or at law or in equity, including, buy not limited to, all Base Rent and Additional Rent accrued and unpaid for the Premises period up to and including such termination date; (2) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, under any part thereofof the provisions of this Lease, alone or together with other premises, for such term or terms (which that may be greater or less than the period which otherwise would have constituted the balance of the Termthen owing and unpaid; (3) all reasonable costs and on such terms expenses (including, without limitation, court costs and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.reasonable

Appears in 1 contract

Samples: Lease Agreement (Paramount Acquisition Corp)

Landlord’s Remedies. Landlord may without further notice reenter In the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwiseevent of default of Tenant, as well as the legal representatives) of Tenant and/or other occupants) of the PremisesLandlord, at its option, in addition to, and remove their effects not to the exclusion of, any and hold all other rights and remedies herein set forth or at law or in equity, may (i) declare the Premises as if term of this Lease had not been made, ended and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance and take possession of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance Leased Property (including all Improvements) terminating all of the Term, net rights of amounts actually collected by Landlord, shall become immediately due thereupon Tenant under this Lease and be paid, together with in and to the Leased Property and to collect from Tenant all expenses of every nature costs and damages to which Landlord may incur is entitled as a result of such as default; (by way ii) without declaring the term of illustration and not limitation) those for attorneys’ feesthis Lease ended, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above enter the discount rate then in effect at Leased Property and occupy the Federal Reserve Bank nearest to Leased Property or lease the location of the Premises. Landlord may re-let the Premises whole or any part portion 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of Tenant as hereinafter provided, applying any monies received first to payment of such expenses, including attorney fees and real estate commissions paid, assumed or incurred by Landlord in or in connection with the lease or leases recovery, cleaning, repairing, restoring, altering and reletting of the Premises for each month Leased Property and then to the fulfillment of the period which would otherwise obligations of Tenant, with any such reletting to be for such a term, at such rent, and on such other conditions as Landlord in its discretion deems advisable; (iii) even though it may have constituted the balance relet all or any portion of the Term. If Landlord exercises Leased Property as above provided, thereafter at any time terminate this Lease for such previous default on the remedy above, and provided that part of Tenant has paid Landlord retaining the accelerated Rent as required by this Section, Landlord shall remit right to bring legal action against Tenant on a monthly basis until the Expiration Date any amounts actually collected for recovery of damages sustained by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord Tenant's default; and (iv) demand and recover the Shark Club Note (unless paid), in which case Tenant shall also execute and deliver such assignments as may be necessary to reassign the Shark Club Lease and reconvey the beneficial interest the deed of trust given to secure the Shark Club Note. If at the time of any termination of this Lease, the Resort is the subject of any recurrent periodic interval ownership interests and, therefore, subject to regulation by the Real Estate Division of the State of Nevada Department of Commerce, then Landlord shall (i) give notice of termination to such association of time-share owners as may then exist; and (ii) enter into a new replacement tenant including reasonable marketing/leasing costs, fees lease with such association of timeshare owners as may then exist upon terms and commissions, and costs of preparing improvements and refurbishment conditions identical to the Premises for the replacement tenantthose set forth in this Lease. In no event shall the total amount paid to Tenant pursuant to Nothing contained in the preceding sentence exceed the accelerated Rent paid by Tenant shall be construed to Landlord. If this Lease is terminated, require Landlord may re-let the Premises or to negotiate any part thereof, alone or together with other premises, for such term or terms (which may be greater condition with such association even if the proposed term or less than condition would otherwise constitute a reasonable departure from the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingthis Lease.

Appears in 1 contract

Samples: Ground Lease (Grand Casinos Inc)

Landlord’s Remedies. Landlord may without further If Tenant is in default under this Lease beyond applicable notice reenter and cure periods prior to the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) date of Tenant and/or other occupants) Substantial Completion of the PremisesWarm Shell Improvements, and remove their effects and hold Landlord’s damages or the Premises cost to Tenant to perform any indemnification obligation is less than the cap imposed by the Maximum Guarantee Test as if this Lease had not been made, evidenced by the then-incurred cost reports provided by Landlord and Tenant hereby waives the service of notice of intention pursuant to re-enter or to institute legal proceedings to that end; and/or Section 40.4 below, then, at Landlord’s optionelection (i) Tenant shall pay to Landlord, within thirty (30) days after receipt of Landlord’s notice of default, the amount of Landlord’s damages or the cost to perform the indemnity obligation, or (ii) Landlord may terminate this Lease by written notice to Tenant (“Default Termination Notice”) given no later than three (3) business days after the last day of any applicable notice or cure period. All Rent for If Tenant is in default under this Lease beyond applicable notice and cure periods prior to the balance date of Substantial Completion of the Term will, at the election of Landlord, be accelerated Warm Shell Improvements and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part thereof, either in the name of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than damages or exceed the period which would otherwise cost to Tenant to perform any indemnification obligation exceeds imposed by the Maximum Guarantee Test as evidenced by the then-incurred cost reports provided by Landlord and Tenant pursuant to Section 40.4 below, Landlord shall have constituted the balance of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in right to terminate this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by terminates this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant Lease pursuant to this Section 40.2, the preceding sentence exceed cap imposed by the accelerated Rent paid by Tenant Maximum Guarantee Test shall apply to Landlord. If this Lease is terminated, Landlord may re-let the Premises Tenant’s obligation to pay such damages or any part thereof, alone or together with other premises, for perform such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determineobligation, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason ofhave the right to recover any deficiency from Tenant at the time of the determination that the Maximum Guarantee Test has been satisfied or is no longer applicable as set forth in Section 40.3, any failure by Landlord whichever is the earliest to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingoccur.

Appears in 1 contract

Samples: Lease Agreement (Linkedin Corp)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises as prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of the award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the term of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the “worth at the time of award” of the amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of 18 percent per annum or the maximum lawful rate. The “worth at the time of award” of the amount referred to in Section (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) the “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the amount referred to in clause (ii) above is computed by determining the mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4 and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms “enter,” “re-rental. For purposes of this clause (2), enter,” present worthentryshall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may or “re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason because of, any Landlord’s failure by Landlord to re-let relet the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Skechers Usa Inc)

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Landlord’s Remedies. Upon the occurrence of an event of Default, subject to the provisions of Article 11 below and the special limitations set forth in Section 5.1(b), Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwisemay, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance sole option and without order of any court or further written notice to Tenant, and without limiting in any manner any other remedies available at law or equity, exercise any one or more of the Term willremedies set forth in this Section or any other remedy available under applicable law or contained in this Lease. If any voluntary or involuntary proceeding for a reorganization or an arrangement is instituted, at and no application is made in any such proceeding and no relief is requested therein by Tenant to reject this Lease, or to reform or recast the election same or for any change, modification or alteration of Landlord, be accelerated and the present worth of same for the balance any of the Termterms, net covenants and conditions of amounts actually collected this Lease or to relieve Tenant from the punctual payment of the Rent, including Base Rent and Additional Rent, or other charges required to be paid by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertisingTenant under this Lease, and refurbishing if all Rent, including Base Rent and Additional Rent, and other charges due from Tenant under this Lease are paid within the Premises in good order or preparing them for re-rental. For purposes time period(s) hereinbefore provided, and all of the terms, covenants and conditions of this clause (2)Lease required to be performed by Tenant are promptly performed and complied with within the time period(s) hereinbefore provided, “present worth” then Tenant shall be computed by discounting such amount have the continuous and uninterrupted quiet enjoyment and exclusive possession of the Property during the Lease Term; provided however, nothing herein contained shall modify the rights of Landlord or the obligations of Tenant with respect to present worth at a discount rate equal to one percentage point above the discount rate then in effect at this Lease under the Federal Reserve Bank nearest to Bankruptcy Code in the location event of the Premisesfiling of a petition thereunder by Tenant. Landlord may re-let terminate this Lease whereupon the Premises Tenant shall be obligated, without further action by the Landlord, to comply with the provisions of Section 13.16 hereof. Landlord or Landlord’s agents and employees may by summary ejectment proceedings or by any suitable action or proceeding at law, with or without terminating this Lease, enter upon and take possession of the Property, securing it against unauthorized entry and expel or remove Tenant and any other occupant therefrom and alter locks and other security devices at the Property, without being liable to indictment, prosecution, or damages. Landlord may relet the whole or any part thereofof the Property from time to time, 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premisessuch tenants, for such term terms ending before, on, or terms (which may be greater or less than after the period which otherwise would have constituted the balance expiration date of the Lease Term) , at such rentals and on such terms other conditions as Landlord may determine to be appropriate. Landlord may recover its damages, including without limitation all lost rentals, all legal expenses including reasonable attorneys’ fees, all costs incurred by Landlord in restoring the Property (except, as to an event of casualty, Tenant shall be liable only to the extent that such restoration costs are not covered by insurance proceeds received by Landlord) or otherwise preparing the Property for reletting for any purposes consistent with the Permitted Uses, and conditions (which may include concessions all costs incurred by Landlord in reletting the Property and interest thereon at the rate set forth above for past due Rent under this Lease. If Tenant should fail to make any payment, perform any obligation, or free rent cure any default hereunder after such notice and alterations the expiration of the Premises) such cure period as provided herein, Landlord, in its sole discretionwithout obligation to do so and without thereby waiving such failure or default, may determinemake such payment, but perform such obligation, and/or remedy such other default for the account of Tenant (and enter the Property for such purpose), and Tenant shall pay, as Additional Rent, upon demand all costs, expenses and disbursements (including reasonable attorney’s fees) incurred by Landlord shall not be liable in taking such remedial action, plus interest thereon at the rate set forth above for nor shall Tenant’s obligations hereunder be diminished by reason of, any past due Rent under this Lease. No failure by Landlord to reinsist on the strict performance of any agreement, term, covenant, or condition of this Lease or to exercise any right or remedy consequent upon a breach, and no acceptance of full or partial Rent during the continuance of any such breach, constitutes a waiver of any such breach or of such agreement, term, covenant, or condition. No agreement, term, covenant, or condition to be performed or complied with by Tenant, and no breach by Tenant shall be waived, altered, or modified except by a written instrument executed by Landlord. No waiver of any breach shall affect or alter this Lease, but each and every agreement, term, covenant, and condition of this Lease shall continue in full force and effect with respect to any other then-let existing or subsequent breach. Tenant shall have no liability for any consequential or incidental damages of Landlord, or anyone claiming by, through or under Landlord, for any reason whatsoever. Upon expiration or earlier termination of this Lease, Tenant hereby covenants and agrees to surrender and deliver the Premises Property peaceably to Landlord together with all the Improvements described in this Lease in their then current “as is” condition, together with an assignment of Tenant’s Development Rights and Special Declarant Rights as defined in the North Carolina Condominium Act. FF&E may be removed by Tenant or any failure subtenant at or before this Lease terminates, provided, however, that the removal will not injure the Improvements or necessitate repairs to the same, or if such repairs are required, those repairs will be made promptly following any such removal. Tenant shall pay or cause to be paid to Landlord the cost of repairing any damage arising from such removal and restoration of the Improvements to their condition before such removal. Any personal property of Tenant that shall remain on the Property for a period of more than thirty (30) days after the termination of this Lease and the removal of Tenant from the Property may, at the option of Landlord, be deemed to have been abandoned by Tenant and may either be retained by Landlord as its property or be disposed of, without accountability, in such manner as Landlord may see fit, or if Landlord gives written notice to collect any rent due upon Tenant to such re-lettingeffect, such property, shall be removed by Tenant at Tenant’s sole cost and expense.

Appears in 1 contract

Samples: Ground Lease

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant’s right of possession, and (but Tenant hereby waives shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of the award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the “worth at the election time of Landlord, be accelerated and the present worth of same for the balance award” of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 12 percent per annum or the maximum lawful rate. The “worth at the time of every nature which Landlord may incur such as award” of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) the “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may grant concessions enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4 and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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 free assign, subject only to reasonable limitations).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or charge other payment with knowledge of the breach of any covenant hereof shall not be deemed a higher rental than that reserved waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. The terms “enter,” “re-enter,” “entry” or “re-entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason because of, any Landlord’s failure by Landlord to re-let relet the Premises or collect rent due in respect of such reletting, provided that Landlord has made commercially reasonable efforts to relet the Premises and otherwise mitigate its damages; provided, however, (a) Landlord shall not be obligated to accept any failure tenant proposed by Tenant, (b) Landlord shall have the right to lease any other space controlled by Landlord to collect first, and (c) any rent due upon such re-lettingproposed tenant shall meet all of Landlord’s leasing criteria.

Appears in 1 contract

Samples: Lease Agreement (Ikanos Communications)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant’s right of possession, and (but Tenant hereby waives shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandoned the Premises prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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 reasonable avoided; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The “worth at the election time of Landlord, be accelerated and the present worth of same for the balance award” of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 18 percent per annum or the maximum lawful rate. The “worth at the time of every nature which Landlord may incur such as award” of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) The “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Tenant acknowledges and agrees that the term “detriment proximately caused by Tenant’s failure to perform its obligations under this Lease” includes, and may grant concessions without limitation, the value of any abated or free rent given to Tenant. Even if Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4, and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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 charge assign subject only to reasonable limitations).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a higher rental than termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that reserved such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives all right of redemption in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge. The terms “enter,” “re-enter,” “entry” or “re-entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason because of, any Landlord’s failure by Landlord to re-let relet the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting.

Appears in 1 contract

Samples: Lease Agreement (Xfit Brands, Inc.)

Landlord’s Remedies. Landlord shall have the following remedies if Tenant is in default. (These remedies are not exclusive; they are cumulative and in addition to any remedies now or later allowed by law): Landlord may without further notice reenter terminate Tenant's right to possession of the Premises either at any time. Tenant hereby grants Landlord full and free right, whether by force changing or otherwise picking of locks in necessary, to enter and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of repossess the Premises, with or without process of law. Tenant releases Landlord of any liability for any damage resulting therefrom and remove their effects and hold waives any right to claim damage for such re-entry. Tenant also agrees that Landlord has not waived or relinquished any other right given to it hereunder or by operation of law. No act by Landlord other than giving notice to Tenant shall terminate this Lease. Acts of maintenance, efforts to relet the Premises as if Premises, or the appointment of a receiver on Landlord's initiative to protect Landlord's interest under this Lease had shall not been madeconstitute a termination of Tenant's right to possession. Upon termination of Tenant's right to possession, and Tenant hereby waives Landlord has the service of notice of intention right to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance recover from Tenant: (1) The worth of the Term will, unpaid rent that had been earned at the election time of Landlord, be accelerated and the present termination of Tenant's right to possession; (2) The worth of same for the balance amount of the Termunpaid rent that would have been earned after the date of termination of Tenant's right to possession; (3) Any other amount, net of amounts actually collected including court, attorney and collection costs necessary to compensate Landlord for all detriment proximately caused by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such Tenant's default. "The Worth," as (by way of illustration and not limitationused for Item 20(1) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall Paragraph 20 is to be computed by discounting such amount allowing interest at the maximum rate an individual is permitted to present charge by law or 12%, whichever is greater. "The worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location time of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.the

Appears in 1 contract

Samples: Security Associates International Inc

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises as prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of the award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the term of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the “worth at the time of award” of the amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of 18 percent per annum or the maximum lawful rate. The “worth at the time of award” of the amount referred to in Section (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) the “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the amount referred to in clause (ii) above is computed by determining the mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4 and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms “enter,” “re-rental. For purposes of this clause (2), enter,” present worthentryshall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may or “re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason because of, any Landlord’s failure by Landlord to re-let relet the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting.

Appears in 1 contract

Samples: Lease Agreement (Skechers Usa Inc)

Landlord’s Remedies. Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent and all Additional Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Lease Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the PremisesCenter. If such termination shall take place after the expiration of two or more Lease Years, then, for purposes of computing the accelerated Rent, the Annual Percentage Rent payable with respect to each Lease Year following termination (including the Lease Year in which such termination shall take place) shall be conclusively presumed to be equal to the average Annual Percentage Rent payable with respect to each complete Lease Year preceding termination. If such termination shall take place before the expiration of two Lease Years, then, for purposes of computing the accelerated Rent, the Annual Percentage Rent payable with respect to each Lease Year following termination (including the Lease Year in which such the unexpired Term shall be conclusively presumed to be a sum equal to twenty-five percent (25%) of the annual Minimum Rent due and payable during such unexpired Term; and/or at Landlord’s option, Landlord may re-let the Premises or any part 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 or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, . Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Lease Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Sectionparagraph, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are a re-letting remaining after after-subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, terminated pursuant to Section 23.5(A) (2) Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Lease (Radiation Therapy Services Holdings, Inc.)

Landlord’s Remedies. (a) In the event of any default by Tenant and expiration of all applicable cure periods therefor hereunder, in addition to any other remedies available to Landlord at law or in equity, Landlord shall have the option to terminate this Lease and all rights of Tenant hereunder. If Landlord elects to so terminate this Lease, then Landlord may without further notice reenter recover from Tenant: (i) the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as worth at the legal representativestime of award of any unpaid rent which had been earned at the time of such termination; plus (ii) the worth at the time of Tenant and/or other occupants) award of the Premises, and remove their effects and hold amount by which the Premises as if this Lease had not unpaid rent which would have been made, and earned after termination until the time of award exceeds the amount of such rental loss that Tenant hereby waives proves could have been reasonably avoided; plus (iii) the service worth at the time of notice award of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent the amount by which the unpaid rent of the balance for the balance Term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided. The "worth at the time of award" of the Term will, amounts referred to in clauses (i) and (ii) above shall be omputed by allowing interest at the election rate of Landlord, be accelerated and ten percent (10%) per year. The worth at the present worth time of same for the balance award of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises amount referred to in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” iii) above shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest of San Francisco at the time of award plus one percent (1%). (b) In addition to all other rights of Landlord pursuant to this Lease, at law or in equity, Landlord shall have all rights set forth in California Civil Code Section 1951.4 (which provides a lessor may continue the location lease in effect after a 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). (c) All rights, options and remedies of Landlord contained in this Lease shall be construed and held to be cumulative, and no one of them shall be exclusive of the Premisesother. Landlord may re-let shall have the Premises right to pursue any one or all of such remedies or any part thereof, either in the name of Landlord other remedy or otherwise, for a term or terms relief which may at Landlord’s option be less than provided by law, whether or exceed the period which would otherwise have constituted the balance of the Term, and may grant concessions or free rent or charge a higher rental than that reserved not stated in this Lease; and/or at Landlord’s option, . (d) Termination of this Lease shall not relieve Tenant or its legal representatives will also from the obligation to pay any sum due to Landlord as liquidated or from any claim for damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Termagainst Tenant. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.14.4

Appears in 1 contract

Samples: Lease Assignment and Assumption Agreement

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant’s right of possession, and (but Tenant hereby waives shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of the award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the “worth at the election time of Landlord, be accelerated and the present worth of same for the balance award” of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 18 percent per annum or the maximum lawful rate. The “worth at the time of every nature which Landlord may incur such as award” of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) the “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may grant concessions enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4 and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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 free assign, subject only to reasonable limitations).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or charge other payment with knowledge of the breach of any covenant hereof shall not be deemed a higher rental than that reserved waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives all right of redemption in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge. The terms “enter,” “re-enter,” “entry” or “re-entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason because of, any Landlord’s failure by Landlord to re-let relet the Premises or collect rent due in respect of such reletting; provided that Landlord has made commercially reasonable efforts to relet the Premises and otherwise mitigate its damage; provided, however, (a) Landlord shall not be obligated to accept any failure tenant proposed by Tenant, (b) Landlord shall have the right to lease any other space controlled by Landlord to collect first, and (c) any rent due upon such re-lettingproposed tenant shall meet all of Landlord’s leasing criteria.

Appears in 1 contract

Samples: Lease Agreement (Occam Networks Inc/De)

Landlord’s Remedies. Landlord may In the event of any default by Tenant under -------------------- this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in SECTION 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant's right of possession of the Premises; or (h) terminate Tenant's right of possession of the Premises either without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its sole discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value ------------------------ (at 6%per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance ---------------- remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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, be 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 present worth of same Lease for the balance of the Term, net discounted to present value at a rate of amounts actually collected 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 tinder 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, shall become immediately due thereupon upon demand, any and be paid, together with all expenses of every nature which Landlord may incur incurred in such removal and all storage charges against such property so long as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” same shall be computed in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by discounting such amount to present worth at a discount rate equal to one percentage point above Tenant within 30 days after the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 end of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s optionhowever terminated, shall be conclusively presumed to have been conveyed by Tenant or its legal representatives will also pay to Landlord under this Lease as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amountin a xxxx of sale, if any, of the rents collected on account of the lease without further payment or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Data Call Technologies

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (required pursuant to Section 21.2), but without further additional notice reenter or demand from landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant’s right of possession of the Premises; or (b) terminate Tenant’s right of possession of the Premises either without terminating this Lease; provided, however, that Landlord shall use its reasonable efforts, whether Landlord elects to proceed under Subsections (a) or (b) above, 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 any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its sole, but reasonable, discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value at (6% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent required to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Premises (determined at the election 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, be 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 present worth of same Lease for the balance of the Term, net discounted at a rate of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which 6% per annum. Tenant agrees that Landlord may incur file suit to recover any sums due to Landlord hereunder from time to time and that such as 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 (by way of illustration b), then Landlord shall at any time have the further right and not limitationremedy to rescind such election and pursue its rights and remedies under Subsection (a). the event Landlord elects, pursuant to clause (b) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2)Section 22.2, “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location terminate Tenant’s right of the Premises. Landlord may re-let the Premises or any part thereofpossession only, 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in without terminating this Lease; and/or , 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 a 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 its legal representatives will also 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 in no event or circumstances shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord as liquidated damages Landlord, upon demand, any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to expenses incurred in such removal and all storage charges against such property so long as the same shall be paid and 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 net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance end of the Term. If , however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord exercises the remedy aboveunder this Lease as in a xxxx of sale, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid without further payment or credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Bway Corp

Landlord’s Remedies. If default shall be made in the payment of the Rent or any installment thereof or in the payment of any other sum required to be paid by Tenant under this Lease or under the terms of any other agreement between Landlord may without further and Tenant and such default shall continue for five (5) days after written notice reenter to Tenant, or if default shall be made in the observance or performance of any of the other covenants or conditions in this Lease which Tenant is required to observe and perform and such default shall continue for ten (10) days after written notice to Tenant (provided, however, if Tenant has commenced curing such default and is diligently proceeding with such cure, Tenant shall have a period of up to thirty (30) days after written notice to Tenant to cure such default), or if a default involves a hazardous condition and is not cured by Tenant immediately upon 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 voluntary petition in bankruptcy or for corporate re-organization (but not including the merger or consolidation of Tenant with or into a person controlling, controlled by or under common control with Tenant) 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 shall not have been dismissed within sixty (60) days from the filing thereof, or if a receiver shall be appointed for Tenant or any of the property of Tenant by any court and such receiver shall not have been dismissed within forty-five (45) days from the date 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 cease to occupy the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representativesfor a period of twenty (20) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of consecutive days during the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which then Landlord may incur such treat the occurrence of any one or more of the foregoing events as (by way a breach of illustration and not limitation) those for attorneys’ fees, brokerage, advertisingthis Lease, and refurbishing thereupon at its option may, after the Premises in good order or preparing them for re-rental. For purposes expiration of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, all notice and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amountgrace periods set forth herein, if any, without any further notice or any demand of any kind to Tenant or any other person, have any one or more of the rents collected on account of the lease following described remedies in addition to all other rights and remedies provided at law or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises in equity or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.elsewhere herein:

Appears in 1 contract

Samples: Office Lease (Oxigene Inc)

Landlord’s Remedies. Landlord shall have the remedies described in this Paragraph 23 if Tenant is in default. These remedies are not exclusive; they are cumulative and in addition to any remedies now or later allowed by law. Upon any such default, Landlord may without further notice reenter terminate Tenant’s right to possession of the Premises either at any time. No act by force or otherwise and dispossess Landlord other than giving notice to Tenant by summary proceedings or otherwiseshall terminate this Lease. Acts of maintenance, as well as the legal representatives) of Tenant and/or other occupants) of efforts to relet the Premises, and remove their effects and hold or the Premises as if appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under this Lease shall not constitute a termination of Tenant’s right to possession. Upon termination of Tenant’s right to possession, Landlord has the right to recover from Tenant: (1) The worth at the time of award of any unpaid rent which had not been made, and earned at the time of termination of Tenant’s right to possession; (2) The worth at the time of award of the amount by which the unpaid rent which would have been earned after the date of termination of Tenant’s right to possession until the time of award exceeds the amount of such rental loss that Tenant hereby waives proves could have been reasonably avoided; (3) The worth at the service time of notice award of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent the amount by which the unpaid rent for the balance of the Term willafter the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; (4) Any other amount, including court, attorney and collection costs, necessary to compensate Landlord for all detriment proximately caused by Tenant’s default. “The worth”, as used for Items (1) and (2) in this Paragraph 23 is to be computed by allowing interest at the election lesser of Landlord12% or the maximum rate an individual is permitted to charge by law or 12%, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rentalwhichever is greater. For purposes of this clause (2), present The worth” shall as used for Item (3) in this Paragraph 23 is to be computed by discounting such the amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest of San Francisco at the time of termination plus one percent (1%). In the event of any default by Tenant, Landlord shall also have the right, with or without terminating this Lease, to re-enter the location of Premises and remove all persons and property from the Premises; such property may be removed and stored in a public warehouse or elsewhere at the cost of and for the account of Tenant or disposed of in a reasonable manner by Landlord. Landlord may No re-let the Premises entry or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases taking possession of the Premises for each month by Landlord pursuant to this Paragraph 23 shall be construed as an election to terminate this Lease unless a written notice of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit such intention is given to Tenant on or unless the termination thereof is decreed by a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result court of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingcompetent jurisdiction.

Appears in 1 contract

Samples: Letter Agreement (Curon Medical Inc)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter at any time thereafter at its election: terminate this Lease; and/or pursue any other remedies at law or in equity. Upon the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) termination of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been madeor termination of Tenant's right of possession, and Tenant hereby waives the service of it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Promises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant's right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after to time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the "worth at the election time of Landlord, be accelerated and the present worth of same for the balance award" of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 18 percent per annum or the maximum lawful rate. The "worth at the time of every nature which Landlord may incur such as award" of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) The "time of award" as used in clauses (i), (ii) and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may grant concessions or free rent or charge a higher rental than that reserved in enforce all its rights and remedies under this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay including the right to Landlord recover rent as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed it becomes due. This remedy is intended to be paid the remedy described in California Civil Code Section 1951.4, and the net amountfollowing provision from such Civil Code Section is hereby repeated: "The Lessor has the remedy described in 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 anylessee has right to sublet or assign, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, subject only to reasonable limitations)." Any such payments due Landlord shall remit be made upon demand therefor from time to time and Tenant on a monthly basis until the Expiration Date agrees that Landlord may file suit to recover any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord sums falling due from time to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenanttime. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminatedNotwithstanding any such reletting without termination, Landlord may re-let the Premises or at any part thereof, alone or together with other premises, time thereafter elect in writing to terminate this Lease for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingprevious breach.

Appears in 1 contract

Samples: Lease Agreement (Sterigenics International Inc)

Landlord’s Remedies. Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent and all Additional Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Lease Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the PremisesCenter. If such termination shall take place after the expiration of two or more Lease Years, then, for purposes of computing the accelerated Rent, the Annual Percentage Rent payable with respect to each Lease Year following termination (including the Lease Year in which such termination shall take place) shall be conclusively presumed to be equal to the average Annual Percentage Rent payable with respect to each complete Lease Year preceding termination. If such termination shall take place before the expiration of two Lease Years, then, for purposes of computing the accelerated Rent, the Annual Percentage Rent payable with respect to each Lease Year following termination (including the Lease Year in which such the unexpired Term shall be conclusively presumed to be a sum equal to twenty-five percent (25%) of the annual Minimum Rent due and payable during such unexpired Term; and/or at Landlord’s option. Landlord may re-let the Premises or any part 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 or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Lease Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Sectionparagraph, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are are-letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, terminated pursuant to Section 23.5(A) (2) Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Lease (Radiation Therapy Services Holdings, Inc.)

Landlord’s Remedies. (a) Upon the occurrence of any Default, Landlord will have the following rights and remedies, in addition to those allowed by law or in equity, any one or more of which may be exercised or not exercised without further notice reenter precluding Landlord from exercising any other remedy provided in this Lease or otherwise allowed by law or in equity: (i) Terminate this Lease, in which event Tenant shall immediately surrender possession of the Premises either by force or otherwise to Landlord; (ii) Enter upon and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) take possession of the Premises and expel or remove Tenant and any other occupant therefrom, terminating the right to possession with or without having terminated this Lease; and (iii) Alter locks and other security devices at the Premises, and remove their effects and hold . (b) Exercise by Landlord of any one or more remedies shall not constitute an acceptance of surrender of the Premises as if by Tenant, whether by agreement or operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and Tenant. (c) If Landlord terminates this Lease had not been madeby reason of a Default, Tenant shall pay to Landlord the sum of all Rent and Tenant hereby waives other indebtedness accrued to the service date of notice of intention such termination, plus all “Reletting Costs” (as defined below), plus any other amounts necessary to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent compensate Landlord for the balance of the Term willdamages proximately caused by Tenant’s Default, plus interest at the election “Default Rate” (as defined below) from the date due through the date of Landlordpayment, be accelerated and the present worth plus an amount equal to total of same all Rent then payable under this Lease for the balance remainder of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing less the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “then present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location value of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher fair market rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases value of the Premises for each month of the period which would otherwise have constituted the balance of the Termsuch period. If Landlord exercises the remedy aboveFor purposes hereof, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section“Reletting Costs” shall include, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom without limitation, all reasonable costs paid and expenses incurred by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.for

Appears in 1 contract

Samples: Lease Agreement (eHealth, Inc.)

Landlord’s Remedies. Landlord shall have the following remedies if Tenant is in default. (These remedies are not exclusive; they are cumulative and in addition to any remedies now or later allowed by law): Landlord may without further notice reenter terminate Tenant's right to possession of the Premises either at any time. No act by force or otherwise and dispossess Landlord other than giving notice to Tenant by summary proceedings or otherwiseshall terminate this Lease. Acts of maintenance, as well as the legal representatives) of Tenant and/or other occupants) of efforts to relet the Premises, and remove their effects and hold or the Premises as if appointment of a receiver on Landlord's initiative to protect Xxxxxxxx's interest under this Lease had shall not been madeconstitute a termination of Tenant's right to possession. Upon termination of Tenant's right to possession, and Tenant hereby waives Landlord has the service of notice of intention right to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for recover from Tenant: (1) the balance worth of the Term will, unpaid Rent that had been earned at the election time of Landlord, be accelerated and termination of Tenant's right to possession; (2) the present worth of same for the balance amount of the Termunpaid Rent that would have been earned after the date of termination of Tenant's right to possession; (3) any other amount, net of including but not limited to, expenses incurred to relet the Premises, court, attorney and collection costs, necessary to compensate Landlord for all detriment cause by Xxxxxx's default. Landlord acknowledges that those amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause under subsections (2), “present worth” shall ) and (3) above are subject to such obligation of Landlord to mitigate damages as exists under the laws of the State of Washington. "The Worth," as used for Item (1) in this Paragraph 20 is to be computed by allowing interest at the rate of 18 percent per annum. If the interest rate specified in this Lease is higher that the rate permitted by law, the interest rate is hereby decreased to the maximum legal interest rate permitted by law. "The Worth" as used for Item (2) in this Paragraph 21 is to be cumputed by discounting such the amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of the Premises. Landlord may re-let the Premises or any part thereof, either in the name termination 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 Tenant's right of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingpossession.

Appears in 1 contract

Samples: Sonosight Inc

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandoned the Premises prior to the end of the term hereof (other than as provided in Paragraph 23(iv) herein) or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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 reasonable avoided; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the term of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The “worth at the time of award” of the amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of 18 percent per annum or the maximum lawful rate. The “worth at the time of award” of the amount referred to in Section (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) The “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the amount referred to in clause (ii) above is computed by determining the mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises (other than as provided in Paragraph 23(iv) herein), this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4, and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms “enter,” “re-rental. For purposes of this clause (2), enter,” present worthentryshall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may or “re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may reasonably determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason because of, any Landlord’s failure by Landlord to re-let relet the Premises or collect rent due in respect of such reletting. If Landlord terminates Tenant’s right of possession without terminating the Lease after an Event of Default, Landlord shall use commercially reasonable efforts to relet the Premises; provided, however, (a) Landlord shall not be obligated to accept any failure tenant proposed by Tenant, (b) Landlord shall have the right to lease any other space controlled by Landlord to collect first, and (c) any rent due upon such re-lettingproposed tenant shall meet all of Landlord’s reasonable leasing criteria.

Appears in 1 contract

Samples: Lease Agreement (Restoration Hardware Inc)

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant’s right of possession of the Premises; or (b) terminate Tenant’s right of possession of the Premises either without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its sole discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord 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 (determined on the basis of a per annum discount rate equal to the Discount Rate as well as announced from time to time by the legal representatives) Board of Tenant and/or other occupantsGovernors of the Federal Reserve System (the “Applicable Rate”)) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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 the Applicable Rate. 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, be 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 present worth of same Lease for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which discounted to present value at the Applicable Rate. Tenant agrees that Landlord may incur file suit to recover any sums due to Landlord hereunder from time to time and that such as 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 (by way of illustration b), then Landlord shall at any time have the further right and not limitationremedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to clause (b) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2)Section 22.2, “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location terminate Tenant’s right of the Premises. Landlord may re-let the Premises or any part thereofpossession only, 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in without terminating this Lease; and/or , Landlord may, at Landlord’s option, with process of law 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 its legal representatives will also 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 as liquidated damages Landlord, upon demand, any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to expenses incurred in such removal and all storage charges against such property so long as the same shall be paid and 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 net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance end of the Term. If , however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord exercises the remedy aboveunder this Lease as in a xxxx of sale, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid without further payment or credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: M Wave Inc

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in Section 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant’s right of possession of the Premises; or (b) terminate Tenant’s right of possession of the Premises either without terminating this Lease; provided, however, that Landlord may, whether Landlord elects to proceed under Subsections (a) or (b) above, 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. In addition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by force Landlord, in its sole discretion. 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 other sums that Landlord is entitled to recover under any provision of this Lease or otherwise at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and dispossess Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 summary proceedings or otherwiseLandlord in the enforcement of its rights and remedies under this Lease; and (iv) any damages provable by Landlord as a matter of law including, as well as without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe discounted present value (at 6% per annum) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent provided to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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, be 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 present worth of same Lease for the balance of the Term, net discounted to present value at a rate of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which 6% per annum. Tenant agrees that Landlord may incur file suit to recover any sums due to Landlord hereunder from time to time and that such as 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 (by way of illustration b), then Landlord shall at any time have the further right and not limitationremedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to clause (b) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2)Section 22.2, “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location terminate Tenant’s right of the Premises. Landlord may re-let the Premises or any part thereofpossession only, 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in without terminating this Lease; and/or , 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 its legal representatives will also 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 as liquidated damages Landlord, upon demand, any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to expenses incurred in such removal and all storage charges against such property so long as the same shall be paid and 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 net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance end of the Term. If , however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord exercises the remedy aboveunder this Lease as in a xxxx of sale, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid without further payment or credit by Landlord to secure a replacement tenant including Tenant. AS A MATERIAL INDUCEMENT TO LANDLORD TO ENTER INTO THIS LEASE, TENANT HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED UNDER APPLICABLE LAW, ANY OBLIGATION OR DUTY ON THE PART OF LANDLORD TO MITIGATE ANY DAMAGES ARISING BY VIRTUE OF OR IN CONNECTION WITH ANY DEFAULT BY TENANT UNDER THIS LEASE. For purposes of determining any recovery of rent or damages by Landlord that depends upon what Landlord could collect by using reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment efforts to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of relet the Premises) as Landlord, in its sole discretionthe event such determination is required by applicable law notwithstanding the foregoing waiver by Tenant, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.it is understood and agreed that:

Appears in 1 contract

Samples: Liquidity Services Inc

Landlord’s Remedies. Continuation of Lease. In the event of any such default by Tenant, Landlord may without further notice reenter shall have the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if right to continue this Lease had in full force and effect, whether or not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of have abandoned the Premises. In the event Landlord may re-let elects to continue this Lease in full force and effect pursuant to this Paragraph 17.4, then Landlord shall be entitled to enforce all of its rights and remedies under this Lease, including the right to recover Monthly Rent as it becomes due. Landlord's election not to terminate this Lease pursuant to this Paragraph 17.4 or pursuant to any other provision of this Lease, at law or in equity, shall not preclude Landlord from subsequently electing to terminate this Lease or pursuing any of its other remedies. Landlord shall have the right to relet the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, portion thereof for such term or terms (which may be greater or less than extend beyond the period which otherwise would have constituted the balance of the Lease Term) and at such rental and on such other terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but deem advisable. Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason ofalso have the right to make such alterations and repairs to the Premises as Landlord may deem advisable, any failure in its sole discretion. Upon such reletting, the rents received by Landlord shall be applied first to re-let the Premises or payment of any failure costs and expenses of such reletting, including, without limitation, the cost of brokerage fees and commissions, and of such alterations and repairs; second, to the payment of any amounts other than Monthly Rent due from Tenant under this Lease; third, to the payment of Monthly Rent due and unpaid under this Lease; and the residue, if any, shall be held by Landlord and applied to collect payment of future rent and other amounts as the same become due and payable hereunder. If the rents received from such reletting during any rent due upon month are less than that to be paid during the month by Tenant hereunder, Tenant shall immediately pay any such re-lettingdeficiency to Landlord. Such deficiency shall be calculated and paid monthly.

Appears in 1 contract

Samples: Lease Agreement (Integrated Management Information, Inc.)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant's right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises as prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of the award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the term of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the “worth at the time of award” of the amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of 18 percent per annum or the maximum lawful rate. The “worth at the time of award” of the amount referred to in Section (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) the “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the amount referred to in clause (ii) above is computed by determining the mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4 and the following provision from such Civil Code Section is hereby repeated: “The Lessor has the remedy described in 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).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord's intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms "enter," "re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may enter," "entry" or "re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry," as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s 's obligations hereunder be diminished by reason because of, any Landlord's failure by Landlord to re-let relet the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting.

Appears in 1 contract

Samples: Lease Agreement (Viewsonic Corp)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandoned the Premises as prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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 reasonable avoided; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the term of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The “worth at the time of award” of the amounts referred to in Paragraphs (i) and (ii) is computed by allowing interest at the lesser of 10 percent per annum or the maximum lawful rate. The “worth at the time of award” of the amount referred to in Paragraph (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) The “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the amount referred to in clause (ii) above is computed by determining the mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Tenant acknowledges and agrees that the term “detriment proximately caused by Tenant’s failure to perform its obligations under this Lease” includes, without limitation, the value of any abated or free rent given to Tenant. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4, and the following provision from such Civil Code Paragraph is hereby repeated: “The Lessor has the remedy described in 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).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms “enter,” “re-rental. For purposes of this clause (2), enter,” present worthentryshall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may or “re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason because of, any Landlord’s failure by Landlord to re-let relet the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting.

Appears in 1 contract

Samples: Lease Agreement (Atlas Crest Investment Corp.)

Landlord’s Remedies. Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant In case of any default, re-entry, expiration and/or dispossession by summary proceedings or otherwise, as well as (i) the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, rent shall become immediately due thereupon and be paidpaid up to the time of such re-entry, dispossession and/or expiration, together with all such expenses of every nature which as Landlord may incur such as (by way of illustration and not limitation) those for legal expenses, attorneys’ fees, brokerage, advertising, and refurbishing and/or putting the Premises demised premises in good order order, or for preparing them the same for re-rental. For purposes of this clause ; and/or (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. ii) Landlord may re-let the Premises premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms terms, which may at Landlord’s option be less than or exceed the period which would otherwise have constituted the balance of the Term, term of this Agreement and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Agreement. Mention in this Agreement of any particular remedy, shall not preclude Landlord from any other remedy, in law or in equity. Resident hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Resident being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the Premises, by reason of the violation by Resident of any of the covenants and conditions of this Agreement, or otherwise. If Landlord, in connection with any default by Resident in the covenant to pay rent hereunder, makes any expenditures or incurs any obligations for the payment of money, including but not limited to attorney’s optionfees, Tenant in instituting, prosecuting or its legal representatives will also pay defending any action or proceeding, such sums so paid or obligations incurred with interest and costs shall be deemed to be additional rent hereunder and shall be paid by Resident to Landlord as liquidated damages within five (5) days of rendition of any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed xxxx or statement to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy aboveResident therefore, and provided that Tenant has paid Landlord if Resident’s lease term shall have expired at the accelerated Rent as required by this Sectiontime of making such expenditures or incurring of such obligations, Landlord such sums shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected be recoverable by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingdamages.

Appears in 1 contract

Samples: Resident Responsibility Agreement

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default continues, Landlord may at any time elect to: (i) terminate this Lease or Tenant's right of possession, (but Tenant shall remain liable as hereinafter provided), and/or (ii) pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant's right of possession, Landlord may, without further formal demand or notice reenter of any kind, re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwiseany other action or proceeding authorized by law and remove Tenant, as well as the legal representatives) of Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all property at the Premises as if Premises. Notwithstanding anything contained herein to the contrary, in the event Landlord delivers three notices of an Event of Default under this Lease had not been madein any twelve month period, any subsequent Event of Default under the Lease shall be deemed an immediate Event of Default, and Tenant hereby waives shall have no cure period as otherwise provided in this Lease, and Landlord may immediately pursue all of its remedies as provided in this Lease. Except as otherwise provided in the service next paragraph, if Tenant breaches this Lease and abandoned the Premises prior to the end of notice the term hereof, or if Tenant's right to possession is terminated by Landlord because of intention to re-enter or to institute legal proceedings to an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent, Operating Expenses, and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All Rent the time of award of the amount by which the reasonable value of the unpaid Base Rent, Operating Expenses, and other charges under this Lease 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; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent, Operating Expenses, and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The "worth at the election time of Landlord, be accelerated and the present worth of same for the balance award" of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 12 percent per annum or the maximum lawful rate. The "worth at the time of every nature which Landlord may incur such as award" of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) The "time of award" as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise(1) the annual Base Rent, for a term or terms which may at Landlord’s option be less than or exceed Operating Expenses, and other charges under this Lease and (2) the period which would otherwise have constituted number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Tenant acknowledges and agrees that the term “detriment proximately caused by Tenant's failure to perform its obligations under this Lease” includes, and may grant concessions without limitation, the value of the unamortized portion of any abated or free rent given to Tenant. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4, and the following provision from such Civil Code Section is hereby repeated: "The Lessor has the remedy described in 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 charge assign subject only to reasonable limitations)." Tenant shall immediately pay any such deficiency upon demand and Tenant agrees that Landlord may file suit to recover any sums as they become due. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Landlord’s exercise of any remedies shall not be deemed to be an acceptance of surrender of the Premises and/or a higher rental than termination of this Lease by Landlord. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance the terms hereof shall not be construed as having created a custom or manner in any way contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that reserved forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent Event of Default. Receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless agreed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives all right of redemption in case the Lease is terminated or Tenant shall be dispossessed by a judgment or by warrant of any court or judge. In the event Landlord exercises self-help, or lock-out, remedies as provided by law, Tenant hereby waives all claims against Landlord for any business loss or business interruption which Tenant may incur and any property remaining on the Premises shall be deemed abandoned by Tenant and Landlord may store, remove, or disposed of such property at Tenant's expense, and Tenant waives all claims against Landlord for any damages resulting from Landlord's retention and disposition of such property. The terms "enter," "re-enter," "entry" or "re-entry," as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingmeanings.

Appears in 1 contract

Samples: Lease Agreement (Venus Concept Inc.)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant's right of possession, and (but Tenant hereby waives shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant's right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of the award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the "worth at the election time of Landlord, be accelerated and the present worth of same for the balance award" of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected the prime rate (the annual base corporate rate as announced by Landlord, shall become immediately due thereupon and be paid, together with all expenses the Wall Street Journal from time to time) plus five percent (5%) per annum or the maximum lawful rate. The "worth at the time of every nature which Landlord may incur such as award" of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) the "time of award" as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may grant concessions or free rent or charge a higher rental than that reserved in enforce all its rights and remedies under this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay including the right to Landlord recover rent as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed it becomes due. This remedy is intended to be paid the remedy described in California Civil Code Section 1951.4 and the net amountfollowing provision from such Civil Code Section is hereby repeated: "The Lessor has the remedy described in 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 anylessee has right to sublet or assign, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, subject only to reasonable limitations)." Any such payments due Landlord shall remit be made upon demand therefor from time to time and Tenant on a monthly basis until the Expiration Date agrees that Landlord may file suit to recover any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord sums falling due from time to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenanttime. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminatedNotwithstanding any such reletting without termination, Landlord may re-let the Premises or at any part thereof, alone or together with other premises, time thereafter elect in writing to terminate this Lease for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingprevious breach.

Appears in 1 contract

Samples: Lease Agreement (Etoys Inc)

Landlord’s Remedies. In case of any such default under Section 21.2, at any time following the expiration of the respective grace periods above mentioned, Landlord may without further serve a notice reenter upon Tenant electing to terminate this Lease upon a specified date not less than seven (7) days after the Premises either date of serving such notice and this Lease shall then expire on the date so specified as if that date had been originally fixed as the expiration date of the Term herein granted; however, a default under Section 21.2, hereof shall be deemed waived if such default is made good before the date specified for termination in the notice of termination served on Tenant. All Base Rent and Additional Rent payable by force Tenant following Tenant's receipt of a notice of monetary default shall be made by way of certified or otherwise and dispossess Tenant bank cashier's check. In case this Lease shall be terminated as hereinbefore provided, or by summary proceedings or otherwise, Landlord or its agents may, immediately or any time thereafter, re-enter and resume possession of the Premises or such part thereof, and remove all persons and property therefrom, either by summary proceedings or by a suitable action or proceeding at law, without being liable for any damages therefor. No re-entry by Landlord shall be deemed an acceptance of a surrender of this Lease. In case this Lease shall be terminated as well as hereinabove provided, or by summary proceedings or otherwise, Landlord may, in its own name and in its own behalf, relet the legal representatives) of Tenant and/or other occupants) whole or any portion of the Premises, for any period equal to or greater or less than the remainder of the then current Term, for any sum which it may deem reasonable, to any tenant which it may deem suitable and remove their effects satisfactory, and hold for any use and purpose which it may deem appropriate, and in connection with any such lease Landlord may make such changes in the character of the improvements on the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur determine to be appropriate or helpful in effecting such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, lease and may grant concessions or free rent. Landlord agrees that it shall use commercially reasonable efforts to relet the Premises, so as to mitigate the damages otherwise payable by Tenant hereunder. Landlord shall not in any event be required to pay Tenant any surplus of any sums received by Landlord on a reletting of the Premises in excess of the rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option. Landlord shall be entitled to recover from Tenant the sum equal to all expenses, Tenant or its legal representatives will also pay to including reasonable counsel fees, incurred by Landlord as liquidated damages any deficiency between in recovering possession of the Rent and all Additional Rent hereby reserved and/or agreed to be paid Premises, the costs of reletting the Premises, and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, costs and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises charges for the replacement tenant. In no event care of Premises while vacant, which damages shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid be due and payable by Tenant to Landlord at such time or times as such expenses shall have been incurred by Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.22.3

Appears in 1 contract

Samples: Classica Group Inc

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant's right of possession (but Tenant shall remain liable as hereinafter provided), and Tenant hereby waives and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant's right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the "worth at the election time of Landlord, be accelerated and the present worth of same for the balance award" of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 18 percent per annum or the maximum lawful rate. The "worth at the time of every nature which Landlord may incur such as award" of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) The "time of award" as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may grant concessions or free rent or charge a higher rental than that reserved in enforce all its rights and remedies under this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay including the right to Landlord recover rent as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed it becomes due. This remedy is intended to be paid the remedy described in California Civil Code Section 1951.4, and the net amountfollowing provision from such Civil Code Section is hereby repeated: "The Lessor has the remedy described in California Civil Section 1951.4 (lessor may continue lease in effect after lessee's breach and abandonment and recover rent as it becomes due, if anylessee has right to sublet or assign, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, subject only to reasonable limitations." Any such payments due Landlord shall remit be made upon demand therefor from time to time and Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, agrees that Landlord may re-let the Premises or file suit to recover any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.sums failing

Appears in 1 contract

Samples: Lease Agreement (Jni Corp)

Landlord’s Remedies. In the event Tenant defaults, and does not cure the default within the applicable cure period (if applicable), Landlord may without further notice reenter shall then and at any time thereafter be entitled to immediate possession of the Leased Premises, to all arrearages in Rent, to terminate this Lease, and/or to exercise any remedy legally available to Landlord to enforce its rights by reason of Tenant’s default. Without limiting the foregoing and in supplement to and not replacement of any other obligation of Tenant relevant to termination of this Lease, Tenant shall at Landlord’s option (i) vacate the Leased Premises, and/or (ii) remove Tenant’s property from the Leased Premises. Notwithstanding termination of the Lease and surrender of the Leased Premises either by force to Landlord, Landlord shall immediately be entitled to recover from Tenant, and Tenant shall forthwith pay to Landlord as compensation, in addition to any other payment obligations of Tenant under this Lease, all unpaid Rent or otherwise and dispossess Tenant by summary proceedings or otherwiseother payments called for hereunder accrued to such date, as well as all sums Tenant was otherwise obligated to pay to Landlord for the legal representatives) of Tenant and/or other occupants) remainder of the PremisesLease Term (including, and remove their effects and hold but not limited to, the balance of the Rent, which shall be deemed accelerated) less the fair market value of the Leased Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term willLease Term. In addition to the amounts to be paid by Tenant under the preceding sentence and otherwise under this Lease, at the election Tenant shall pay to Landlord, as compensation, all of Landlord, be accelerated and ’s expenses in connection with the present worth of same for the balance reletting of the TermLeased Premises, net of amounts actually collected by Landlordincluding, shall become immediately due thereupon without limitation, all repossession costs, brokerage commissions, fees for legal services and be paid, together with all expenses of every nature which Landlord may incur preparing the Leased Premises for such as reletting (by way but pro-rated to the extent of illustration and not limitation) those any reletting for attorneys’ fees, brokerage, advertising, and refurbishing periods beyond the Premises in good order or preparing them for re-rental. For purposes of this clause (2Lease Term), “present worth” shall be computed it being agreed by discounting such amount to present worth at a discount rate equal to one percentage point above Tenant that Landlord may: (a) relet the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Leased 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, less than than, or exceed the period which would otherwise have constituted the balance of the Term, Lease Term and may grant such concessions or and free rent as Landlord in its reasonable judgment considers advisable or charge a higher rental than that reserved necessary to relet the same; and (b) make such alterations, repairs and decorations in this Lease; at, on and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Leased Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, as Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretionjudgment considers advisable or necessary to relet the same, may determine, but and no action of Landlord in accordance with the foregoing or failure to relet or to collect rent under reletting shall not operate or be liable for nor shall construed to release or reduce Tenant’s obligations hereunder be diminished by reason ofliability as aforesaid, any failure by Landlord including with respect to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingmitigation.

Appears in 1 contract

Samples: Lease Agreement (Blue Sphere Corp.)

Landlord’s Remedies. Upon Tenant’s uncured default hereunder, Landlord may without further notice reenter exercise any one or all of the following options: (i) terminate Tenant’s right to possession of the Premises either by force or otherwise under this Lease and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) reenter and take possession of the PremisesPremises and relet or attempt to relet the Premises on behalf of Tenant, at such rent and under such terms and conditions as Landlord may, in the exercise of Landlord’s sole discretion, deem best under the circumstances for the purpose of reducing Tenant’s liability, and remove their effects and hold Landlord shall not be deemed to have thereby accepted a surrender of the Premises as if this Lease had not been madeor the leasehold estate created hereby, and Tenant shall remain liable for all Base Monthly Rent, Additional Rent, and other sums due under this Lease and for all damages suffered by Landlord because of Tenant’s breach of any of the covenants of this Lease, (ii) Terminate this Lease and reenter upon and taken possession of the Premises with written notice to Tenant, whereupon the term hereby waives granted and all right, title and interest of Tenant in the service of notice of intention Premises shall terminate, and such termination shall be without prejudice to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All right to collect from Tenant any Base Monthly Rent, Additional Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paidor other sums that have accrued prior to such termination, together with all expenses damages suffered by Landlord because of every nature which Landlord may incur such as (by way Tenant’s breach of illustration and not limitation) those for attorneys’ fees, brokerage, advertisingany covenant contained in this Lease, and refurbishing (iii) declare the Premises in good order or preparing them entire remaining unpaid Rent for re-rental. For purposes the term of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate Lease then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part thereofbe immediately due and payable, either in the name of Landlord or otherwiseand, 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant take immediate action to recover and collect the same by any available procedure. At any time during any such repossession or its legal representatives will also pay reletting by Landlord, Landlord may, by delivering written notice to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed Tenant Initials Initials Tenant, elect to be paid and the net amount, if any, exercise its option under item (ii) of the rents collected on account of the lease or leases preceding sentence to accept a surrender of the Premises for each month and the leasehold estate created hereby, terminate and cancel this Lease, and retake possession and occupancy of the period which would otherwise have constituted the balance Premises on behalf of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If The remedies provided in this Lease is terminated, Landlord may re-let the Premises Section shall be cumulative to those provided elsewhere herein or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettinglaw.

Appears in 1 contract

Samples: Office Lease Agreement (Health Insurance Innovations, Inc.)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant's right of possession, and (but Tenant hereby waives shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant's right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of the award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) the "worth at the election time of Landlord, be accelerated and the present worth of same for the balance award" of the Term, net amounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses 18 percent per annum or the maximum lawful rate. The "worth at the time of every nature which Landlord may incur such as award" of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of award plus one percent; (b) the "time of award" as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the Premises. Landlord may re-let amount referred to in clause (ii) above is computed by determining the Premises or any part mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, either between the date of termination and the time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the name mathematical product of Landlord or otherwise, for a term or terms which may at Landlord’s option be less than or exceed (1) the period which would otherwise have constituted annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases which such abandonment of the Premises would constitute an Event of Default under Paragraph 23(iv) of this Lease, this Lease shall continue in effect for each month of the period which would otherwise have constituted the balance of the Term. If so long as Landlord exercises the remedy abovedoes not terminate Tenant's right to possession, and provided Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Tenant has paid Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Notwithstanding anything contained herein to the accelerated Rent as required by this Sectioncontrary, if Landlord terminates Tenant's right to possession without terminating the Lease after an Event of Default, Landlord shall remit use commercially reasonable efforts to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of relet the Premises; provided, however, (a) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor obligated to accept any tenant proposed by Tenant, (b) Landlord shall Tenant’s obligations hereunder be diminished by reason of, have the right to lease any failure other space controlled by Landlord first, and (c) any proposed tenant shall meet all of Landlord's leasing criteria. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to re-let be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any failure by Landlord time to collect enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any rent due upon such re-letting.way or manner contrary to the specific

Appears in 1 contract

Samples: Lease Agreement (Celerity Group Inc)

Landlord’s Remedies. If there is an Event of Default by Tenant under this Lease (subject to applicable notice and cure periods), in addition to all other remedies available to Landlord may without further at law or in equity, Landlord may: (1) Terminate this Lease by notice reenter the Premises either by force or otherwise to Tenant and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) retake possession of the Premises, ; (a) Terminate Tenant's right of possession by notice to Tenant without terminating this Lease and remove their effects and hold retaking possession of the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let relet the Premises or any part thereof, either of the Premises in the name of Landlord Landlord, or otherwise, as Tenant's agent, for a term shorter or terms which may at Landlord’s option be less longer than or exceed the period which would otherwise have constituted the balance of the Lease Term, and may grant concessions or free rent to the new tenant, thereby terminating Tenant's tenancy in the Premises and right to possess the Premises, without terminating Tenant's obligations to pay (a) the entire balance of all forms of Base Rent and Additional Rent for the remainder of the Lease Term, plus (b) the Reletting Expenses, and (c) the unamortized balance of any brokerage commissions paid by Landlord in connection with this Lease, any allowances granted to Tenant under this Lease, and the cost of any Tenant Improvements made by Landlord. Landlord shall have no obligation to relet the Premises, and its failure to do so, or charge failure to collect rent on reletting, shall not affect Tenant's liability under this Lease. Landlord shall not, in any event, be required to pay Tenant any surplus of any sums received by Landlord on a higher rental than that reserved reletting of the Premises in excess of the rent provided in this Lease; and/or at Landlord’s option. If Landlord decides to relet the Premises or a duty to relet is imposed by law, Tenant Landlord shall only be required to use commercially reasonable efforts to relet the Premises. Commercially reasonable efforts shall not require Landlord to: (i) use any greater efforts than Landlord then uses to lease other properties Landlord or its legal representatives will also affiliates owns or manages; (ii) relet the Premises in preference to any other space in the Building; (iii) relet the Premises to any party that Landlord could reasonably reject as a transferee under the Assignment or Subletting section of this Lease; (iv) accept rent in an amount which is less than the fair market rental for the Premises; (v) perform any tenant improvements, grant any tenant improvement allowances, grant any "free rent," or otherwise pay any sums or grant any monetary concessions in order to Landlord as liquidated damages obtain a new tenant; (vi) observe any deficiency between instruction given by Tenant about the Rent and all Additional Rent hereby reserved and/or agreed to be paid reletting process or accept any tenant offered by Tenant unless the offered tenant leases the entire Premises and the net amountcriteria of this subsection are otherwise fully met. Any entry or reentry by Landlord, if anywhether had or taken under summary proceedings or otherwise, shall not absolve or discharge Tenant from liability under this Lease so long as Landlord's actions are not in violation of the rents collected on account of the lease applicable laws. "Reenter" and "re-entry" as used in this Lease are not restricted to their technical legal meaning. No reentry or leases taking possession of the Premises for each month by Landlord shall be construed as an election on Landlord's part to accept a surrender of the period which would otherwise have constituted Premises unless a notice of such intention is given to Tenant; (2) Stand by and do nothing, and hold Tenant liable for all Base Rent and additional rent payable under this Lease through the balance remainder of the Lease Term. If Landlord exercises the remedy above; provided by law; (3) Institute any action as (4) Obtain injunctive and declaratory relief, temporary or permanent, or both, against Tenant or any acts, conduct or omissions of Tenant, and provided that Tenant has paid Landlord further to obtain specific performance of any term, covenant, or condition of this Lease; (5) After regaining possession of the accelerated Rent as required by this SectionPremises, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom remove all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which of Tenant's Property from the Premises and any property removed may be greater or less than stored at the period which otherwise would have constituted cost of, and for the balance of the Term) account of, Tenant, and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable responsible for nor shall the care or safekeeping of Tenant’s obligations hereunder 's Property whether in transport, storage, or otherwise, and Tenant waives any and all claims against Landlord for loss, destruction, damage or injury that may be diminished occasioned by reason of, any failure acts taken by Landlord under this subsection. Landlord may retain possession of Tenant's Property until all storage charges and all other amounts owed by Tenant to re-let Landlord under this Section 23 have been paid in full. Nothing set forth in this subsection shall limit Landlord's rights to enforce any lien or security interest in favor of Landlord against Tenant's Property or Landlord's rights under the Premises or any failure by Landlord to collect any rent due upon such re-letting.End of Term section of this Lease; and

Appears in 1 contract

Samples: Cybear Inc

Landlord’s Remedies. If Tenant shall neglect or fail to make any payment of rent or other charges within five (5) days of the due date thereof, or if Tenant shall fail to cure a default in the performance of any other of Tenant's covenants within thirty (30) days after date of notice of such default from Landlord may without further notice reenter or if the Premises either shall be abandoned, or if the leasehold hereby created shall be taken on execution, or by force other process of law, or if any assignment shall be made of Tenant's property for the benefit of creditors, or if a receiver, guardian, conservator, trustee in bankruptcy or similar officer shall be appointed by a court of competent jurisdiction to take charge of all or any part of Tenant's property, or if a petition is filed by Tenant under any bankruptcy or insolvency law, or if a petition is filed against Tenant under any bankruptcy, or insolvency law and the same shall not be dismissed within sixty (60) days from the date upon which is filed, then, and in any of said cases, Landlord lawfully may immediately or at any time thereafter declare the term of this lease ended and enter upon the Premises and repossess the same and expel Tenant and those claiming through or under Tenant and remove their effects, without prejudice to any remedies which might otherwise be used for arrears of rent or previous breach of covenant; and dispossess Tenant covenants that in case of such termination, Tenant will forthwith pay to Landlord as damages a sum equal to the amount by summary proceedings or otherwisewhich the rent and other payments called for hereunder for the remainder of the original term and of any extension thereof exceed the fair rental value of said Premises (as determined through a commercially reasonable appraisal process) for the remainder of the original term and of any extension thereof, and, in addition thereto, will during the remainder of the original term and of any extension thereof, pay to Landlord on the last day of each calendar month the difference, if any, between the rental which would have been due for such month had there been no such termination and the sum of the amount being received by Landlord as well as the legal representatives) of Tenant and/or other occupants) rent from occupants of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, and the applicable prorated amount of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has damages previously paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminatedWithout thereby affecting any other right or remedy hereunder, at its sole option Landlord may re-let the Premises or cure for Tenant's account any part thereof, alone or together with other premises, for such term or terms default by Tenant hereunder which remains uncured after thirty (which may be greater or less than the period which otherwise would have constituted the balance 30) days' notice of the Term) default from Landlord to Tenant; and on such terms and conditions (which may include concessions or free the cost to Landlord thereto shall be deemed to be additional rent and alterations shall be added to the installment of the Premises) as rent next accruing or to any subsequent installment of rent, at Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting's election.

Appears in 1 contract

Samples: Point Therapeutics Inc

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may without further notice reenter the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) of the Premises, and remove their effects and hold the Premises as if at any time thereafter at its election: terminate this Lease had not been madeor Tenant's right of possession (but Tenant shall remain liable as hereinafter provided), and Tenant hereby waives and/or pursue any other remedies at law or in equity. Upon the service termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord, without formal demand or notice of intention any kind, to re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to institute legal proceedings remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandons the Premises prior to the end of the term hereof, or if Tenant's right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Base Rent and other charges under this Lease that endhad been earned at the time of termination; and/or (ii) the worth at Landlord’s option. All the time of award of the amount by which the reasonable value of the unpaid Base Rent and other charges under this Lease 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; (iii) the worth at the time of award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the Term willterm of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The "worth at the election of Landlord, be accelerated and the present worth of same for the balance time of the Term, net award" of the amounts actually collected referred to in Sections (i) and (ii) is computed by Landlord, shall become immediately due thereupon and be paid, together with all expenses allowing interest at the lesser of every nature which Landlord may incur such as 18 percent per annum or the maximum lawful rate. The "worth at the time of award" of the amount referred to in Section (by way of illustration and not limitationiii) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be is computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest of San Francisco at the time of award plus one percent; (b) The "time of award" as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of amount referred to in clause (ii) above is computed by determining the location mathematical product of (1) the "reasonable annual rental value" (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The "reasonable value" of the Premises. Landlord may re-let amount referred to in clause (iii) is computed by determining the Premises or any part thereof, either mathematical product of (1) the annual Base Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining 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 Termterm of this Lease after the time of award. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may grant concessions or free rent or charge a higher rental than that reserved in enforce all its rights and remedies under this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay including the right to Landlord recover rent as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed it becomes due. This remedy is intended to be paid the remedy described in California Civil Code Section 1951.4, and the net amountfollowing provision from such Civil Code Section is hereby repeated: "The Lessor has the remedy described in 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 anylessee has right to sublet or assign, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, subject only to reasonable limitations)." Any such payments due Landlord shall remit be made upon demand therefor from time to time and Tenant on a monthly basis until the Expiration Date agrees that Landlord may file suit to recover any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord sums falling due from time to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenanttime. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminatedNotwithstanding any such reletting without termination, Landlord may re-let the Premises or at any part thereof, alone or together with other premises, time thereafter elect in writing to terminate this Lease for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingprevious breach.

Appears in 1 contract

Samples: Lease Agreement (Atroad Inc)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided) and/or pursue any other remedies at law or in equity. Upon the termination of this Lease or termination of Tenant’s right of possession, it shall be lawful for Landlord, without further formal demand or notice reenter of any kind, to re-enter the Premises either by force or otherwise and dispossess Tenant by summary dispossession proceedings or otherwise, as well as the legal representatives) of any other action or proceeding authorized by law and to remove Tenant and/or other occupants) of and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to keep in place and use, or remove their effects and hold store, all of the furniture, fixtures and equipment at the Premises. Except as otherwise provided in the next paragraph, if Tenant breaches this Lease and abandoned the Premises as prior to the end of the term hereof, or if Tenant’s right to possession is terminated by Landlord because of an Event of Default by Tenant under this Lease, this Lease shall terminate. Upon such termination, Landlord may recover from Tenant the following, as provided in Section 1951.2 of the Civil Code of California: (i) the worth at the time of award of the unpaid Gross Rent and other charges under this Lease that had not been madeearned at the time of termination; (ii) the worth at the time of award of the amount by which the reasonable value of the unpaid Gross Rent and other charges under this Lease 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 reasonable avoided; (iii) the worth at the time of award by which the reasonable value of the unpaid Gross Rent and other charges under this Lease for the balance of the term of this Lease after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom. As used herein, the following terms are defined: (a) The “worth at the time of award” of the amounts referred to in Paragraphs (i) and (ii) is computed by allowing interest at the lesser of 10 percent per annum or the maximum lawful rate. The “worth at the time of award” of the amount referred to in Paragraph (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent; (b) The “time of award” as used in clauses (i), (ii), and (iii) above is the date on which judgment is entered by a court of competent jurisdiction; (c) The “reasonable value” of the amount referred to in clause (ii) above is computed by determining the mathematical product of (1) the “reasonable annual rental value” (as defined herein) and (2) the number of years, including fractional parts thereof, between the date of termination and the time of award. The “reasonable value” of the amount referred to in clause (iii) is computed by determining the mathematical product of (1) the annual Gross Rent and other charges under this Lease and (2) the number of years including fractional parts thereof remaining in the balance of the term of this Lease after the time of award. Tenant acknowledges and agrees that the term “detriment proximately caused by Tenant’s failure to perform its obligations under this Lease” includes, without limitation, the value of any abated or free rent given to Tenant. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rent as it becomes due. This remedy is intended to be the remedy described in California Civil Code Section 1951.4, and the following provision from such Civil Code Paragraph is hereby repeated: “The Lessor has the remedy described in 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).” Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s intention to re-enter as provided for in any statute, or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises also waives all right of redemption in good order case Tenant shall be dispossessed by a judgment or preparing them for by warrant of any court or judge. The terms “enter,” “re-rental. For purposes of this clause (2), enter,” present worthentryshall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may or “re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved entry,” as used in this Lease; and/or at Landlord’s option, Tenant or its are not restricted to their technical legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases meanings. Any reletting of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions as Landlord in its sole discretion may determine (which may include concessions or free rent including without limitation a term different than the remaining Lease Term, rental concessions, alterations and alterations repair of the Premises) as Landlord, in its sole discretion, may determine, but lease of less than the entire Premises to any tenant and leasing any or all other portions of the Project before reletting the Premises). Landlord shall not be liable for liable, nor shall Tenant’s obligations hereunder be diminished by reason because of, any Landlord’s failure by Landlord to re-let relet the Premises or any failure by Landlord to collect any rent due upon in respect of such re-lettingreletting.

Appears in 1 contract

Samples: Lease Agreement (Atlas Crest Investment Corp.)

Landlord’s Remedies. Landlord may without further notice reenter the Premises either by force or otherwise *and dispossess Tenant by summary proceedings or otherwise, as well as the legal representatives) of Tenant and/or other occupants) with respect only to each of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance first two (2) such failures occurring in any year of the Term, net such failure continues for 5 days after Landlord gives Tenant written notice of amounts actually collected by Landlordsuch failure-, shall become **provided, however, that if such failure is not susceptible to being cured within such 30-day period and Tenant immediately due thereupon and be paidcommences such cure, together with all expenses of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re30-rental. For purposes of this clause (2), “present worth” day period shall be computed by discounting extended so long as Tenant is actively, diligently and continuously attempting to effectuate such amount to present worth at a discount rate equal to one percentage point above the discount rate then cure (but in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall said 30-day period be extended by more than an additional 30 days). ***commercially reasonable under the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminatedcircumstances; provided, Landlord may re-let the Premises or any part thereofhowever, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but that Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord obligated to re-let relet or attempt to relet the Premises on a priority basis over other unleased or unoccupied space in the Building or in other buildings then comprising the Naperville Corporate Center. reputable, creditworthy substitute tenant procured by Tenant and presented to Landlord in writing, which substitute tenant was ready, willing and able to lease the entire Premises from Landlord under a lease in form identical to the form of this Lease). If the Premises are relet and a sufficient sum is not realized from such reletting after payment of all Landlord's expenses of reletting (including repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions) to satisfy the payment of Rent due under this Lease for any failure by month, Tenant shall pay Landlord any such deficiency monthly upon demand. Tenant agrees that Landlord may file suit to collect recover any rent sums due upon to Landlord under this section from time to time and that such re-lettingsuit or recovery of any amount due Landlord shall not be any defense to any subsequent action brought for any amount not previously reduced to judgment in favor of Landlord. If Landlord elects to terminate Tenant's right to possession only without terminating this Lease, Landlord may, at its option, enter into the Premises, remove Tenant's signs and other evidences of tenancy, and take and hold possession thereof, as stated in Article 13; 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.

Appears in 1 contract

Samples: Office Lease (Spyglass Inc)

Landlord’s Remedies. Landlord may In the event of any default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (required pursuant to SECTION 21.2), but without further additional notice reenter or demand from Landlord, if any, as provided in SECTION 21.2 has expired, may, in addition to all other rights and remedies provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant's right of possession of the Premises; or (b) terminate Tenant's right of possession of the Premises either without terminating this Lease; provided, however, that Landlord shall use its reasonable efforts, whether Landlord elects to proceed under Subsections (a) or (b) above, to mitigate damages by force reletting the Premises, or otherwise any part thereof for the account of Tenant, for such rent and dispossess term and upon such terms and conditions as are acceptable to Landlord. For purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent deemed necessary by Landlord, in its sole, but reasonable, discretion. 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 other sums that Landlord 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 period up to and including such termination date; (ii) all other additional sums payable by summary proceedings Tenant, or otherwisefor which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, 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 well as a matter of law including, without limitation, an amount equal to the legal representativespositive difference, if any, between (x) of Tenant and/or other occupantsthe DISCOUNTED PRESENT VALUE (AT 6% PER ANNUM) of the Premises, and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention Base Rent required to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent be paid for the balance remainder of the Term will, (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises (determined at the election 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, be 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 present worth of same Lease for the balance of the Term, net discounted at a rate of amounts actually collected 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 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, shall become immediately due thereupon upon demand, any and be paid, together with all expenses of every nature which Landlord may incur incurred in such removal and all storage charges against such property so long as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” same shall be computed in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by discounting such amount to present worth at a discount rate equal to one percentage point above Tenant within 30 days after the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 end of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s optionhowever terminated, shall be conclusively presumed to have been conveyed by Tenant or its legal representatives will also pay to Landlord under this Lease as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amountin a xxxx of sale, if any, of the rents collected on account of the lease without further payment or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid credit by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.

Appears in 1 contract

Samples: Protarga Inc

Landlord’s Remedies. In case of any such default under Section 21.2, at any time following the expiration of the respective grace periods above mentioned, Landlord may without further serve a notice reenter upon Tenant electing to terminate this Lease upon a specified date not less than seven days after the Premises either date of serving such notice and this Lease shall then expire on the date so specified as if that date had been originally fixed as the Page 30 expiration date of the Term therein granted; however, a default under Section 21.2, hereof shall be deemed waived if such default is made good before the date specified for termination in the notice of termination served on Tenant. All base Rent and Additional Rent payable by force Tenant following Xxxxxx's receipt of a notice of monetary default shall be made by way of certified or otherwise and dispossess Tenant bank cashier's check. In case this Lease shall be terminated as hereinbefore provided, or by summary proceedings or otherwise, Landlord or its agents may, immediately or any time there- after, re-enter and resume possession of the Premises or such part thereof, and remove all persons and property therefrom, either by summary proceedings or by a suitable action or proceeding at law, without being liable for any damages therefor. No re-entry by Landlord shall be deemed an acceptance of a surrender of this Lease. In case this Lease shall be terminated as well as hereinabove provided, or by summary proceedings or other- wise, Landlord may, in its own name and in its own behalf, relet the legal representatives) of Tenant and/or other occupants) whole or any portion of the Premises, for any period equal to or greater or less than the remainder of the then current Term, for any sum which it may deem reasonable, to any tenant which it may deem suitable and remove their effects satisfactory, and hold for any use and purpose which it may deem appropriate, and in connection with any such lease Landlord may make such changes in the character of the improvements on the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for the balance of the Term will, at the election of Landlord, be accelerated and the present worth of same for the balance of the Term, net of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur determine to be appropriate or helpful in effecting such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Premises. Landlord may re-let the Premises or any part 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 Term, lease and may grant concessions or free rent. Landlord shall use reasonable efforts to relet the Premises, so as to mitigate the damages otherwise payable by Tenant hereunder. Landlord shall not in any event be required to pay Tenant any surplus of any sums received by Landlord on a reletting of the Premises in excess of the rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option. Landlord shall be entitled to recover from Tenant the sum equal to all expenses, Tenant or its legal representatives will also pay to including reasonable counsel fees, incurred by Landlord as liquidated damages any deficiency between in recovering possession of the Rent and all Additional Rent hereby reserved and/or agreed to be paid Premises, the cost of reletting the Premises, and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, cost and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises charges for the replacement tenant. In no event care of Premises while vacant, which damages shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid be due and payable by Tenant to Landlord at such time or times as such expenses shall have been incurred by Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-letting.22.3

Appears in 1 contract

Samples: Lease Agreement (Instructivision Inc)

Landlord’s Remedies. If an Event of Default shall occur, Landlord at any time thereafter may give a written termination notice to Tenant, and on the date specified in such notice (which shall be not less than three (3) days after the giving of such notice), Tenant’s right to possession shall terminate and this Lease shall terminate, unless on or before such date all arrears of rent and all other sums payable by Tenant under this Lease (together with interest thereon at the rate set forth in Section 18.04 hereof) and all costs and expenses incurred by or on behalf of Landlord hereunder shall have been paid by Tenant and all other breaches of this Lease by Tenant at the time existing shall have been fully remedied to the satisfaction of Landlord. Should Landlord terminate this Lease pursuant to the provisions of this Section, Landlord shall have all the rights and remedies of a landlord provided by Section 1951.2 of the California Civil Code or any successor code section. Upon such termination, in addition to any other rights and remedies to which Landlord may without further notice reenter be entitled under applicable law, Landlord may recover from Tenant: (a) the Premises either by force or otherwise and dispossess Tenant by summary proceedings or otherwise, as well as worth at the legal representatives) time of Tenant and/or other occupants) award of the Premises, and remove their effects and hold unpaid rent which had been earned at the Premises as if this Lease had not time of termination; (b) the worth at the time of award of the amount by which the unpaid rent which would have been made, and earned after termination until the time of award exceeds the amount of such rent loss that Tenant hereby waives proves could have been reasonably avoided; (c) the service worth at the time of notice award of intention to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent the amount by which the unpaid rent for the balance of the Term will, term of this Lease after the time of award exceeds the amount of such rent loss that Tenant proves could be reasonably avoided; and (d) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom. The “worth at the election time of Landlord, be accelerated and the present worth of same for the balance award” of the Term, net amounts referred to in clauses (a) and (b) above shall be computed by allowing interest at the rate set forth in Section 18.04 hereof. The “worth at the time of amounts actually collected by Landlord, shall become immediately due thereupon and be paid, together with all expenses award” of every nature which Landlord may incur such as (by way of illustration and not limitation) those for attorneys’ fees, brokerage, advertising, and refurbishing the Premises amount referred to in good order or preparing them for re-rental. For purposes of this clause (2), “present worth” c) above shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of the Premises. Landlord may re-let the Premises or any part 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 Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingaward plus one percentage point.

Appears in 1 contract

Samples: Office Lease (Medivation, Inc.)

Landlord’s Remedies. Landlord shall have the following remedies if Tenant is in default. (These remedies are not exclusive; they are cumulative and in addition to any remedies now or later allowed by law): Landlord may without further notice reenter terminate Tenant's right to possession of the Premises either at any time. No act by force or otherwise and dispossess Landlord other than giving notice to Tenant by summary proceedings or otherwiseshall terminate this Lease. Acts of maintenance, as well as the legal representatives) of Tenant and/or other occupants) of efforts to relet the Premises, and remove their effects and hold or the Premises as if appointment of a receiver on Landlord's initiative to protect Lxxxxxxx's interest under this Lease had shall not been madeconstitute a termination of Tenant's right to possession. Upon termination of Tenant's right to possession, and Tenant hereby waives Landlord has the service of notice of intention right to re-enter or to institute legal proceedings to that end; and/or at Landlord’s option. All Rent for recover from Tenant: (1) the balance worth of the Term will, unpaid Rent that had been earned at the election time of Landlord, be accelerated and termination of Tenant's right to possession; (2) the present worth of same for the balance amount of the Term, unpaid Rent that would have been earned after the date of termination of Tenant's right to possession less the amount that Tenant proves Landlord should be able to earn during such period net of amounts actually collected all releasing costs; (3) any other amount, including but not limited to, expenses incurred to relet the Premises, court, attorney and collection costs, necessary to compensate Landlord for all detriment caused by LandlordTxxxxx's default. "The Worth," as used for Item (1) in this Paragraph 21 is to be computed by allowing interest at the rate of 18 percent per annum. If the interest rate specified in this Lease is higher than the rate permitted by law, shall become immediately due thereupon and be paid, together with all expenses of every nature which Landlord may incur such the interest rate is hereby decreased to the maximum legal interest rate permitted by law. "The Worth" as (by way of illustration and not limitation) those used for attorneys’ fees, brokerage, advertising, and refurbishing the Premises in good order or preparing them for re-rental. For purposes of this clause Item (2), “present worth” shall ) in this Paragraph 21 is to be computed by discounting such the amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at of the Federal Reserve Bank nearest to of San Francisco at the location time of the Premises. Landlord may re-let the Premises or any part thereof, either in the name termination 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 Tenant's right of the Term, and may grant concessions or free rent or charge a higher rental than that reserved in this Lease; and/or at Landlord’s option, Tenant or its legal representatives will also pay to Landlord as liquidated damages any deficiency between the Rent and all Additional Rent hereby reserved and/or agreed to be paid and the net amount, if any, of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. If Landlord exercises the remedy above, and provided that Tenant has paid Landlord the accelerated Rent as required by this Section, Landlord shall remit to Tenant on a monthly basis until the Expiration Date any amounts actually collected by Landlord as a result of are letting remaining after subtracting therefrom all reasonable costs paid by Landlord to secure a replacement tenant including reasonable marketing/leasing costs, fees and commissions, and costs of preparing improvements and refurbishment to the Premises for the replacement tenant. In no event shall the total amount paid to Tenant pursuant to the preceding sentence exceed the accelerated Rent paid by Tenant to Landlord. If this Lease is terminated, Landlord may re-let the Premises or any part thereof, alone or together with other premises, for such term or terms (which may be greater or less than the period which otherwise would have constituted the balance of the Term) and on such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to re-let the Premises or any failure by Landlord to collect any rent due upon such re-lettingpossession.

Appears in 1 contract

Samples: Basic Lease Terms (Helix Biomedix Inc)

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