Landlord’s Remedies. In the event of an Event of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rights: (a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation: (i) The worth, at the time of award, of the unpaid Rent that has been earned at the time of the termination of this Lease; (ii) 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 this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided; (iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and (iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting.
Appears in 3 contracts
Samples: Lease Agreement (Churchill Downs Inc), Lease Agreement (Pinnacle Entertainment Inc), Lease Agreement (Pinnacle Entertainment Inc)
Landlord’s Remedies. In Upon the event occurrence of an any Event of Default under Section 10.01 then Landlordby Tenant, Landlord may, at any time thereafter, with or without notice or demand and without limiting Landlord in addition to the exercise of any other rights right or remedies it remedy which Landlord may have at law, in equity or otherwise, shall have the following rightshave:
(a) Landlord shall have the right to terminate this Lease and Terminate Tenant's ’s right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to any lawful means, in which case this Lease shall terminate and Tenant shall terminate this Lease or Tenant's right to immediately surrender possession of the PremisesPremises to Landlord. Should Landlord at any time terminate this Lease for any breachIn such event, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include from Tenant all damages incurred by Landlord by reason of Tenant’s default, including without limitation:
limitation (i) The worth, the worth at the time of award, the award of the unpaid Base Rent, Additional Rent that has and other charges which had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, the award of the amount by which the unpaid Base Rent, Additional Rent that and other charges which would have been earned after the date of termination of this Lease until the time of the award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, the award of the amount by which the unpaid Base Rent, Additional Rent and other charges which would have been paid for the balance of the stated Lease term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under the Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in maintaining or preserving the costs and expenses (including attorneys' feesPremises after such default, court costs, advertising costs and brokers' commissions) the cost of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting, including necessary renovation or alteration of the Premises, Landlord’s reasonable attorneys’ fees incurred in connection therewith, and any real estate commission paid or payable. As used in subparts (i) and (ii) above, the “worth at the time of the award” is computed by allowing interest on unpaid amounts at the rate of eighteen percent (18%) per annum, or such lesser amount as may then be the maximum lawful rate, accruing the date such payments are due until paid. As used in subpart (iii) above, the “worth at the time of the award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%);
(b) Maintain Tenant’s right to possession, in which case this Lease shall continue in effect whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s rights and remedies under this Lease, including the right to recover Rent as it becomes due hereunder. Landlord’s election to maintain Tenant’s right to possession shall not prejudice Landlord’s right, at any time thereafter to terminate Tenant’s right to possession and proceed in accordance with Section 25(a) above; or
(c) Pursue any other remedy now or hereafter available to Landlord under Laws or judicial decisions of the State of Nevada. Landlord’s exercise of any right or remedy shall not prevent it from exercising any other right or remedy.
Appears in 3 contracts
Samples: Lease Agreement (CardioVascular BioTherapeutics, Inc.), Lease Agreement (Vendingdata Corp), Lease Agreement (Elixir Gaming Technologies, Inc.)
Landlord’s Remedies. In SECTION 19.01. If an Event of Default shall occur, Landlord may exercise one or more of the event following remedies, all of which shall be cumulative and in addition to any remedies available under applicable law:
(A) Without any further notice or demand, terminate this Lease, and Tenant will forthwith quit and surrender the Demised Premises, but Tenant shall remain liable as hereinafter provided;
(B) Re-enter and resume possession of the Demised Premises and remove all persons and property by summary dispossess proceedings, by appropriate proceedings, without being liable for any damages therefor, and no re-entry shall be deemed an acceptance of a surrender of this Lease;
(C) Proceed to collect any Rent from Tenant then due by one or more proceedings;
(D) Exercise any remedy available at law or in equity to enforce the provisions of this Lease, to recover any damages for a breach of this Lease or to prevent any breach or threatened breach of this Lease; and/or
(E) Recover from Tenant on demand an amount equal to all expenses, including reasonable attorney's fees incurred by Landlord as a result of an Event of Default or the exercise of its rights and remedies, all reasonable costs and charges for the care of the Demised Premises while vacant, and all charges and expenses incurred by Landlord in connection with the reletting of the Demised Premises, including broker's commissions, advertising expenses, and the costs of repairing, renovating or remodeling the Demised Premises.
SECTION 19.02. If this Lease shall be terminated, as provided in this Article XIX:
(A) Landlord may relet the whole or any part of the Demised Premises for a period equal to, or greater or less than the remainder of the then Term of this Lease, at such rental and upon such terms and concessions as Landlord shall deem reasonable, to any person which it may deem suitable and satisfactory and for any use and purpose which it may deem appropriate. In no event shall Landlord be liable in any respect for failure to collect the rent thereunder. Any sums or other consideration received by Landlord on a reletting in excess of the rent reserved in this Lease shall belong to Landlord.
(B) If this Lease shall be terminated and whether or not the Demised Premises shall be relet, Landlord shall be entitled to recover from Tenant an amount equal to all Rent and other charges required to be paid by Tenant under Section 10.01 this Lease, less the net rent, if any, collected by Landlord on reletting the Demised Premises. Such amount shall be due and payable by Tenant to Landlord on the several days on which such Rent and other charges would have become due and payable had this Lease not been terminated, and Tenant shall pay to Landlord the amount of any deficiency then existing. The net rent collected by Landlord on reletting shall be computed by deducting from the gross rents collected the expenses, costs and charges referred to in Subsection 19.01(E). Without any previous notice or demand, separate actions may be instituted by Landlord against Tenant from time to time to recover any damages which at the commencement of any such action shall have become due and payable to Landlord under any provisions hereof without waiting until the end of the original Term of this Lease, and neither the institution of suit or suits, nor the entering of judgment therein shall bar Landlord from bringing a subsequent suit for damages of any kind. It is expressly agreed that the forbearance on the part of Landlord in the institution of any suit or entry of judgment for any part of the Rent shall in no way serve as a defense against nor prejudice a subsequent action for such Rent. Tenant hereby expressly waives Tenant's right to claim a merger of such subsequent action in any previous suit or in the judgment entered therein. Furthermore, it is expressly agreed that claims for Rent may be regarded by Landlord, if it so elects, as separate claims capable of being assigned.
(C) Landlord, at its election, which shall be exercised by the service of a written notice on Tenant, may collect from Tenant and Tenant shall pay in lieu of the sums becoming due after the service of such notice under the provisions of this Subsection 19.02(C) an amount equal to the difference between the Rent required to be paid by Tenant under this Lease (form the date of the service of such notice to and including the date of the expiration of the Term of this Lease which had been in force immediately prior to any termination effected under this Section) and the then fair and reasonable rental value of the Demised Premises for the same period, discounted to present value at the rate of six (6%) percent per year. In determining the rental value of the Demised Premises, the rental realized by any reletting shall be deemed prima facie evidence thereof.
SECTION 19.03. Tenant hereby expressly waives any rights of redemption granted by any laws in the event of any eviction or dispossession, any notices which may be required prior to the commencement of any proceeding for possession of the Demised Premises.
SECTION 19.04. The Landlord and the Tenant waive trial by jury in any action, proceeding or counterclaim brought by either the Landlord or the Tenant against the other on any matters whatsoever arising out of or in any way connected with this Lease, the Tenant's use or occupancy of the Demised Premises, and/or any claim of injury or damage.
SECTION 19.05. If Tenant shall fail to pay or perform any of its obligations when due, then Landlord, in addition to any other of its rights and remedies under this Lease and without waiving its rights or remedies it with regard thereto, may have at law, in equity or otherwise, shall have cure such failure on the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession part of the Premises by giving written notice of termination to Tenant. No act Any sums expended by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at effect any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord such cure shall be entitled payable by Tenant to recover under this Lease shall include without limitation:
(i) The worthLandlord within 30 days after demand, at the time of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) 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 this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingas Additional Rent.
Appears in 3 contracts
Samples: Lease (Yardville National Bancorp), Lease (Yardville National Bancorp), Lease (Yardville National Bancorp)
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then Landlordand so long as such Event of Default shall be continuing, in addition to Landlord may at any other rights or remedies it may have time thereafter at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall 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 formal demand or notice of any kind, to possession re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to 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. Should Landlord at any time terminate Except as otherwise provided in the next paragraph, if Tenant breaches this Lease for any breachand abandons the Premises prior to the end of the term hereof, in addition or if Tenant's right to any other remedy it may have, it possession is hereby agreed terminated by Landlord and because of an Event of Default by Tenant that the damages Landlord shall be entitled to recover under this Lease, this Lease shall include without limitation:
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, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, of the amount award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any 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 12 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, includingand 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, but are not limited to, restricted to their technical legal meanings. Any reletting of the costs Premises shall be on such terms and expenses conditions as Landlord in its sole discretion may determine (including attorneys' feeswithout limitation a term different than the remaining Lease Term, court costsrental concessions, advertising costs alterations and brokers' commissions) of recovering possession repair of the Premises, removing persons lease of less than the entire Premises to any tenant and leasing any or property therefromall other portions of the Project before reletting the Premises). Landlord shall not be liable, placing nor shall Tenant's obligations hereunder be diminished because of, Landlord's failure to relet the Premises or collect rent due in good orderrespect of such reletting, condition and repair, preparing and altering provided that Landlord has made commercially reasonable efforts to relet the Premises for reletting and otherwise mitigate its damages; provided, however, (a) Landlord shall not be obligated to accept any tenant proposed by Tenant, (b) Landlord shall have the right to lease any other space controlled by Landlord first, and (c) any proposed tenant shall meet all other costs and expenses of relettingLandlord's leasing criteria.
Appears in 3 contracts
Samples: Lease Agreement (Ikanos Communications), Lease Agreement (Ikanos Communications), Lease Agreement (Ikanos Communications)
Landlord’s Remedies. In Upon the occurrence of any event of an Event default, Landlord may, at Landlord’s sole option, exercise any or all of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rights:remedies, together with any such other remedies as may be available to Landlord at law or in equity.
(a) Landlord shall have the right to may terminate this Lease by giving Tenant written notice of its election to do so, as of a specified date not less than thirty (30) days after the date of the giving of such notice and Tenant's right this Lease shall then expire on the date so specified, and Landlord shall then be entitled to immediately regain possession of the Premises as if the date had been originally fixed as the expiration date of the term of this Lease. Landlord may then re-enter upon the Premises, either with or without due process of law, and remove all persons therefrom, the statutory notice to quit or any other notice to quit being hereby expressly waived by giving written notice of termination to Tenant. No act Tenant expressly agrees that the exercise by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premisesright of re-entry shall not be a bar to or prejudice in any way other legal remedies available to Landlord. Should Landlord at any time terminate this Lease for any breachIn that event, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under from Tenant as and for liquidated damages an amount equal to the rent and additional rent reserved in this Lease less any and all amounts received by Landlord from the rental of the Premises to another tenant. Nothing herein contained, however, shall include without limitation:
(i) The worthlimit or prejudice the right of Landlord to prove for and obtain as liquidated damages, by reason of such termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time of awardwhen, and governing the proceedings in which such damages are to be proved, whether or not such amount may be greater, equal to, or less than the amount of the unpaid Rent that has been earned at difference referred to above, and the time of Landlord may, in his own name, but as agent for Tenant, re-let the termination of this Lease;Premises. Any recovery by the Landlord shall be limited to the rent hereunder (plus any costs incurred in re-letting) less any rent actually paid by the new tenant.
(iib) The worth, at the time of award, of the amount by which the unpaid Rent that would have been earned after the date of No termination of this Lease until the time or any taking of award exceeds the amount possession of the loss Premises shall deprive Landlord of Rent that any of its remedies or actions against Tenant proves could have been reasonably avoided;for past or future rent, nor shall the bringing of any action for rent or breach of covenant, or the resort to any other remedy herein provided for the recovery of rent, be construed as a waiver of the right to obtain possession of the Premises.
(iiic) The worthIn addition to any damages becoming due under this paragraph, at the time of awardLandlord shall be entitled to recover from Tenant and Tenant shall pay to Landlord an amount equal to all expenses, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' ’ fees, court costsif any, advertising costs and brokers' commissions) of incurred by the Landlord in recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other reasonable costs and charges for the care of said Premises while vacant, which damages shall be due and payable by Tenant to Landlord at such time or times as such expenses are incurred by the Landlord.
(d) In the event of relettinga default or threatened default by Tenant of any of the terms or conditions of this Lease, Landlord shall have the right of injunction and the right to invoke any remedy allowed by law or in equity as if no specific remedies of Landlord were set forth in this Lease.
(e) If default be made and a compromise and settlement shall be had thereupon, it shall not constitute a waiver of any covenant herein contained, nor of the Lease itself.
Appears in 3 contracts
Samples: Lease Agreement (Macrogenics Inc), Lease Agreement (Macrogenics Inc), Lease Agreement (Rexahn Pharmaceuticals, Inc.)
Landlord’s Remedies. In Upon the occurrence of any event of an Event of Default under Section 10.01 then LandlordDefault, Landlord shall 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 precluding the Landlord from exercising any other rights remedy provided in this Lease or remedies it may have at law, otherwise allowed by law or in equity or otherwise, shall have the following rightsequity:
(a) Landlord shall have the right to may terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's ’s right to possession of the Premises. Should If Tenant has abandoned and vacated the Premises, the mere entry onto the Premises by Landlord at any time terminate in order to perform acts of maintenance, cure defaults, preserve the Premises, or attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord’s interest under this Lease, shall not be deemed a termination of Tenant’s right to possession or a termination of this Lease for any breach, unless Landlord has notified Tenant in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant writing that the damages Landlord shall be entitled to recover under this Lease shall include is terminated. If Landlord terminates this Lease and Tenant’s right to possession of the Premises pursuant to this Subsection 20.2(a), then Landlord may recover from Tenant any and all damages set forth in California Civil Code Section 1951.2, or any successor statute, and including without limitationlimitation the following:
(i) The worth, the worth at the time of awardthe award of unpaid rent, including, without limitation, Tenant’s Share of the unpaid Rent that has Additional Expenses, which had been earned at the time of the termination of this Lease;termination; plus
(ii) The worth, the worth at the time of award, the award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, the worth at the time of award, the award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of the award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; andplus
(iv) Any the costs of repairs, cleanup, refurbishing, removal, and storage or disposal of Tenant’s personal property, equipment, fixtures, and anything else that Tenant is required under this Lease to remove but does not remove (including those alterations which Tenant is required to remove pursuant to an election by Landlord, and which Landlord actually removes, whether or not notice to remove shall be delivered to Tenant) to the extent necessary to compensate Landlord for the detriment proximately caused by Tenant’s Default; plus
(v) any costs for alterations, additions, and renovations incurred by Landlord in regaining possession of and reletting (or attempting to relet) the Premises to the extent necessary to compensate Landlord for the detriment proximately caused by Tenant’s Default; plus
(vi) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s Default. However the foregoing damages expressly exclude any lost profits and expressly exclude any consequential damages arising from a Default by Tenant. All computations of the “worth at the time of the award” of amounts recoverable by Landlord under Subsection (a)(i) and (ii) hereof shall be computed by allowing interest at the lesser of (A) ten percent (10%) or (B) the maximum legal rate allowed by law. The “worth at the time of the award” recoverable by Landlord under Subsection (a)(iii) shall be computed by discounting the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus one percent (1%).
(b) Upon termination of this Lease, includingwhether by lapse of time or otherwise, but Tenant shall immediately vacate the Premises and deliver possession to Landlord. If Tenant is in Default under Section 20.1(j) and Landlord or any of its agents has reason to believe that Tenant does not limited tointend to reoccupy the Premises, and current or past rent has been due or unpaid for at least fourteen (14) consecutive days, then Landlord shall have the right to send Tenant a notice of belief of abandonment pursuant to Section 1951.3 of the California Civil Code. The Premises will be deemed abandoned, and the Tenant’s right to possession of the Premises will terminate on the date set forth in such notice, unless Landlord receives (at its address for notices pursuant to this Lease) before such date a notice from Tenant stating (i) Tenant’s intent not to abandon the Premises, and (ii) an address at which Tenant may be served in any action for unlawful detainer of the Premises and/or damages or other relief available at law or in equity. If the Premises are deemed abandoned pursuant to the foregoing (either through the aforementioned procedure or due to any statement by Tenant to that effect), or if Landlord or any of its agents acts pursuant to a court order, then Landlord or any of its agents shall have the right, without terminating this Lease, to re-enter the Premises and remove all persons therefrom and any or all of Tenant’s fixtures, equipment, furniture, and other personal property (herein collectively referred to as “Property”) from the Premises, without being deemed in any manner liable for trespass, eviction, or forcible entry or detainer, or conversion of Property, and without relinquishing any right given to Landlord under this Lease or by operation of law. If Landlord re-enters the Premises in such situation, all Property removed from the Premises by Landlord or any of its agents and not claimed by the owner may be handled, removed, or stored, in a commercial warehouse or otherwise by Landlord at Tenant’s risk and expense, and Landlord shall in no event be responsible for the value, preservation, or safekeeping thereof. Before the retaking of any such Property from storage, Tenant shall pay to Landlord, upon demand, all expenses incurred in such removal and all storage charges against such Property. Any such Property of Tenant not so retaken from storage by Tenant within thirty (30) days after such Property is removed from the Premises shall be deemed abandoned and may be either disposed of by Landlord pursuant to Section 1988 of the California Civil Code or retained by Landlord as its own property.
(c) Notwithstanding Landlord’s right to terminate this Lease pursuant to Section 20.2(a), Landlord may, at its option, even though Tenant has breached this Lease and abandoned the Premises, continue this Lease in full force and effect and not terminate Tenant’s right to possession, and enforce all of Landlord’s rights and remedies under this Lease. In such event, Landlord shall have the remedy described in California Civil Code Section 1951.4 (Landlord may continue this Lease in effect after Tenant’s breach and abandonment and recover rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations-which Tenant agrees are set forth in this Lease). Further, in such event, Landlord shall be entitled to recover from Tenant all costs of maintenance and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession preservation of the Premises, removing persons or property therefromand all costs, placing including attorneys’ fees and receivers’ fees, incurred in connection with appointment of and performance by a receiver to protect the Premises and Landlord’s interest under this Lease. No reentry or taking possession of the Premises by Landlord pursuant to this Section 20.2(c) shall be construed as an election to terminate this Lease unless a written notice (signed by a duly authorized representative of Landlord) of intention to terminate this Lease is given to Tenant. Landlord may at any time after Default by Tenant elect to terminate this Lease pursuant to Section 20.2(a), notwithstanding Landlord’s prior continuance of this Lease in good ordereffect for any period of time, condition and repairupon and after Tenant’s Default under this Lease, preparing Landlord may, but need not, relet the Premises or any part thereof for the account of Tenant to any Person for such rent, for such time, and altering upon such terms as Landlord, in its sole discretion, shall determine. Subject to the provisions of this Lease regarding assignment and subletting in Section 15, Landlord shall not be required to accept any substitute tenant offered by Tenant or to observe any instructions given by Tenant regarding such reletting. Landlord may remove (and repair any damage caused by such removal) and store (or dispose of) any of Tenant’s personal property, equipment, fixtures, and anything else Tenant is required (under this Lease at the election of Landlord or otherwise) to remove but does not remove, and Landlord may also make repairs, renovations, alterations, and/or additions to the Premises to the extent deemed by Landlord necessary or desirable in connection with any attempt to relet the Premises. Tenant shall upon demand pay the cost of such repairs, alterations, additions, removal, storage, and renovations, together with any reasonable legal expenses, brokers commissions, or finders fees and any other reasonable expenses incurred by Landlord in connection with its entry upon the Premises and attempt to relet the Premises. If Landlord is able to relet the Premises for Tenant’s account during the remaining portion of the Term and the consideration collected by Landlord from any reletting is not sufficient to pay monthly the full amount of rent and additional rent payable by Tenant under this Lease, together with any reasonable legal expenses, brokers commissions, or finders fees, any reasonable cost for repairs, alterations, additions, removal, storage, and renovations, and any other reasonable cost and expense incurred by Landlord in reentering the Premises and reletting the Premises, then Tenant shall pay to Landlord the amount of each monthly deficiency upon demand. Any rentals received by Landlord from any such reletting shall be applied as follows:
(i) First, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord;
(ii) Second, to the payment of any reasonable costs of reentry and reletting the Premises;
(iii) Third, to the payment of reasonable costs of any such alterations, repairs, additions, removal, storage, and renovations to the Premises;
(iv) Fourth, to the payment of rent due and unpaid under this Lease; and
(v) The residue, if any, shall be held by Landlord and applied as payment of future rent as the same may become due and payable under this Lease.
(d) No act or omission by Landlord or its agents during the Term shall be an acceptance of a surrender of the Premises, and no agreement to accept a surrender of the Premises shall be valid, unless made in writing and signed by a duly authorized representative of Landlord. Neither any remedy set forth in this Lease nor pursuit of any particular remedy shall preclude Landlord from any other remedy set forth in this Lease or otherwise available at law or in equity. Landlord shall be entitled to a restraining order or injunction to prevent Tenant from breaching or defaulting under any of its obligations under this Lease other than the payment of rent or other sums due hereunder.
(e) Neither the termination of this Lease nor the exercise of any remedy under this Lease or otherwise available at law or in equity shall affect the right of Landlord to any right of indemnification set forth in this Lease or otherwise available at law or in equity by reason of Tenant’s occupancy of the Premises, and all rights to indemnification or other costs obligations of Tenant shall survive termination of this Lease and expenses termination of relettingTenant’s right to possession under this Lease.
Appears in 2 contracts
Samples: Lease Agreement (Adept Technology Inc), Lease Agreement (Adept Technology Inc)
Landlord’s Remedies. In the Event of Default, Landlord may, at Landlord’s option and without limiting Landlord in the exercise of any other right or remedy Landlord may have on account of such default, and without any further demand or notice, re-enter the Premises and remove all persons therefrom, and terminate this Lease, or pursue any other remedy available to Landlord at law or in equity, provided that Landlord shall not, upon the exercise of any remedy granted above or otherwise accruing to Landlord upon a breach by Tenant of any covenant or obligation under this Lease, thereby obtain or secure any right, title or interest in any of Tenant’s Personalty, including without limitation all interior and exterior signs and any other removable personal property placed upon the Premises by Tenant. In the event of an Event of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rights:
(a) that Landlord shall have the right elect to so terminate this Lease and then Landlord may recover from Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, worth at the time of award, award of the unpaid Rent that has rent which had been earned at the time of the termination of this Leasetermination;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of such rental loss that the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award (but in no event for a period of more than five (5) years) exceeds the amount of such rental loss that the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, including, but not limited to’s failure to perform its obligations under the Lease or which in the ordinary course of things would be likely to result therefrom. As used in subparagraphs (i) and (ii) above, the costs and expenses “worth at the time of award” is computed by allowing interest at the Interest Rate. As used in subparagraph (including attorneys' feesiii) above, court costs, advertising costs and brokers' commissions) the “worth at the time of recovering possession of award” is computed by discounting such amount at a discount rate equal to the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingInterest Rate.
Appears in 2 contracts
Samples: Ground Lease Agreement (Mechanical Technology Inc), Ground Lease Agreement (Mechanical Technology Inc)
Landlord’s Remedies. (a) In the event of an Event any default by Tenant or in the event of Default under Section 10.01 then Landlordthe abandonment of the Premises by Xxxxxx, then, in addition to any other rights or remedies it available to Landlord, Landlord may have at law, in equity or otherwise, shall have exercise the following rightsremedies:
(ai) Landlord shall have the right to may terminate this Lease and TenantXxxxxx's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to any lawful means in which case this Lease shall terminate and Tenant shall terminate this Lease or Tenant's right to immediately surrender possession of the PremisesPremises to Landlord. Should Landlord at Such termination shall not affect any time terminate accrued obligations of Tenant under this Lease for any breachLease. Upon termination, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall have the right to reenter the Premises and remove all persons and property. Landlord shall also be entitled to recover under this Lease shall include without limitationfrom Tenant:
(i1) The worth, worth at the time of award, award of the unpaid Rent that has rent and additional rent which had been earned at the time of the termination of this Leasetermination;
(ii2) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent and additional rent, which would have been earned after the date of termination of this Lease until the time of award award, exceeds the amount of the such loss of Rent that Tenant proves could have been reasonably avoided;
(iii3) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent and additional rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such loss of Rent that Tenant proves could be reasonably avoided; and;
(iv4) Any other amount necessary to compensate Landlord for all the detriment proximately caused by TenantXxxxxx's breachfailure to perform its obligations under this Lease or which, includingin the ordinary course of things, would be likely to result from Xxxxxx's default, including but not limited to, to the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) cost of recovering possession of the Premises, removing persons commissions and other expenses of reletting, including necessary repair, renovation, improvement and alteration of the Premises for a new tenant, the unamortized portion of any tenant improvements and brokerage commission funded by Landlord in connection with this Lease, the value of any free rent or property therefromother rental and monetary concessions made or extended for or on behalf of Tenant (including, placing without limitation, moving allowances and lease termination payments), reasonable attorneys' fees and any other reasonable costs; and
(5) At Landlord's election all other amounts in addition to or in lieu of the foregoing as may be permitted by law. The term rent, as used in this Lease, shall be deemed to mean the Basic Rent and all other sums required to be paid by Tenant to Landlord pursuant to the terms of this Lease. Any sum other than Basic Rent shall be computed on the basis of the average monthly amount accruing during the twenty-four (24) month period immediately prior to default, except that if it becomes necessary to compute such rental before the twenty- four (24) month period has occurred, then the computation shall be on the basis of the average monthly amount during the shorter period. As used in subparagraphs (1) and (2) above, the worth at the time of award shall be computed by allowing interest at the rate of ten percent (10%) per annum. As used in subparagraph (3) above, the worth at the time of award shall be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(ii) Landlord may elect not to terminate Xxxxxx's right to possession of the Premises in good orderwhich event Landlord may continue to enforce all of its rights and remedies under this Lease, condition and repairincluding the right to collect all rent as it becomes due. Efforts by the Landlord to maintain, preparing and altering preserve or relet the Premises, or the appointment of a receiver to protect the Landlord's interests under this Lease, shall not constitute a termination of the Tenant's right to possession of the Premises. In the event that Landlord elects to avail itself of the remedy provided by this subsection (ii), Landlord shall not unreasonably withhold its consent to an assignment or subletting of the Premises subject to the reasonable standards for reletting and all other costs and expenses of relettingLandlord's consent as are contained in this Lease.
Appears in 2 contracts
Samples: Assignment of Lease (NBC Internet Inc), Assignment of Lease (Xoom Inc)
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then Landlordand so long as such Event of Default shall be continuing, in addition to Landlord may at any other rights or remedies it may have time thereafter at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall 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 formal demand or notice of any kind, to possession re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to 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. Should Landlord at any time terminate Except as otherwise provided in the next paragraph, if Tenant breaches this Lease for any breachand abandons the Premises prior to the end of the term hereof, in addition or if Tenant's right to any other remedy it may have, it possession is hereby agreed terminated by Landlord and because of an Event of Default by Tenant that the damages Landlord shall be entitled to recover under this Lease, this Lease shall include without limitation:
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, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, of the amount award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any 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, includingand 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, but 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 also 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, are not limited to, restricted to their technical legal meanings. Any reletting of the costs Premises shall be on such terms and expenses conditions as Landlord in its sole discretion may determine (including attorneys' feeswithout limitation a term different than the remaining Lease Term, court costsrental concessions, advertising costs alterations and brokers' commissions) of recovering possession repair of the Premises, removing persons lease of less than the entire Premises to any tenant and leasing any or property therefromall other portions of the Project before reletting the Premises). Landlord shall not be liable, placing nor shall Tenant's obligations hereunder be diminished because of, Landlord's failure to relet the Premises or collect rent due in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses respect of such reletting.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Skechers Usa Inc), Lease Agreement (Skechers Usa Inc)
Landlord’s Remedies. In Upon the event occurrence of an Event of Default under Section 10.01 then Landlordby Tenant, in addition to any other rights remedies available at law or remedies it may have in equity, Landlord may, at lawits option, in equity pursue any one or otherwise, shall have more of the following rightsremedies, however, except with respect to the matters described in Section 32.4 below, each of which shall be cumulative and non-exclusive without notice or demand whatsoever (except as provided in Section 15.1), Landlord may pursue any such remedies only through a binding Arbitration proceeding conducted in accordance with Article 32:
(a) Landlord shall have the right to may terminate this Lease Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and Tenant's right if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have for possession or arrearages in rent, but subject to Applicable Laws, enter upon and take possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to and expel or remove Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to and any other remedy it person who may havebe occupying the Premises or any part thereof, it is hereby agreed by without being liable for prosecution or any claim for damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfollowing:
(i) The worth, the worth at the time of award, award of the any unpaid Rent that has rent which have been earned at the time of the termination of this Lease;such termination; plus,
(ii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;avoided by leasing the entire Premises to a single tenant; plus
(iii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoidedavoided by leasing the entire Premises to a single tenant; andplus
(iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; plus
(v) at Landlord's election, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession such other amounts in addition to or in lieu of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingforegoing as may be permitted from time to time under Applicable Law.
Appears in 2 contracts
Samples: Lease Agreement (Griffin Capital Essential Asset REIT II, Inc.), Lease Agreement (Griffin Capital Essential Asset REIT II, Inc.)
Landlord’s Remedies. In the event of an Event of Default If a default by Tenant under Section 10.01 then Landlordthis Lease shall occur, in addition to any other rights and remedies available to Landlord at law or remedies it may have at law, in equity (including, without limitation, the provisions of Section 1951.4 of the California Civil Code or otherwiseany successor statutory provision), shall have the following rights:
(a) Landlord at any time thereafter shall have the right to terminate 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 giving written notice of termination to Tenant. No act 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 than giving express written notice breaches of this Lease by Tenant at that time existing shall have been fully remedied to Tenant the satisfaction of Landlord. If Landlord shall terminate this Lease or Tenant's right pursuant to possession the provisions of this Section, Landlord shall have all the rights and remedies of a landlord provided by Section 1951.2 of the PremisesCalifornia Civil Code or any successor statutory provision. Should Landlord at any time terminate this Lease for any breachUpon such termination, in addition to any other remedy it rights and remedies to which Landlord may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to under applicable law, Landlord may recover under this Lease shall include without limitation:
from Tenant: (ia) The worth, the worth at the time of award, award of the all unpaid Rent that has rent which had been earned at the time of termination; (b) the termination of this Lease;
(ii) The worth, worth at the time of award, award of the amount by which the all unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rent loss of Rent that Tenant proves could have been reasonably avoided;
; (iiic) The worth, the worth at the time of award, award of the amount by which the all unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rent loss of Rent that Tenant proves could be reasonably avoided; and
and (ivd) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by TenantXxxxxx's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited towithout limitation, the costs and expenses (including attorneys' feesfees and costs; brokerage commissions; the cost of alterations, court costsadditions, advertising costs improvements, renovations, refurbishment and brokers' commissions) of recovering possession repair of the Premises; the cost of removal and storage of Tenant's trade fixtures, removing persons 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 property therefrom, placing installed by Landlord at its expense (as amortized over the Premises Term with interest thereon at the Interest Rate). The "worth at the time of award" of the amounts referred to in good order, condition clauses (a) and repair, preparing and altering (b) above shall be computed by allowing interest at the Premises for reletting and all other costs and expenses Interest Rate. The worth at the time of relettingaward of the amount referred to in clause (c) above shall be computed by discounting such amount at a rate equal to the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
Appears in 2 contracts
Samples: Office Lease (Interwave Communications International LTD), Office Lease (Interwave Communications International LTD)
Landlord’s Remedies. In Upon the event occurrence of an Event of Default under Section 10.01 then LandlordDefault, then, in addition to and without waiving any other rights and remedies available to Landlord at law or remedies it may have at law, in equity or otherwiseotherwise provided in this Lease, shall have Landlord may, at its option, cumulatively or in the alternative, to the fullest extent permitted by Applicable Laws exercise the following rightsremedies:
(a) Landlord shall have the right to may terminate this Lease and Tenant's ’s right to possession of the Premises, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises by giving written notice of termination to TenantLandlord. No act by Landlord other than giving express written notice Notice to Tenant of Landlord’s election to terminate Tenant’s right to possession shall terminate this Lease. Acts of maintenance, efforts to relet the Premises, or the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under this Lease or shall not constitute a termination of Tenant's ’s right to possession. Termination shall terminate Tenant’s right to possession of the Premises. Should Landlord at Premises but shall not relieve Tenant of any time terminate obligation under this Lease for any breachwhich has accrued prior to the date of such termination. Upon such termination, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall have the right to re-enter the Premises, and remove all persons and property, and Landlord shall also be entitled to recover under this Lease shall include without limitationfrom Tenant:
(i) The worth, worth at the time of award, award of the unpaid Monthly Rent that has and Additional Rent which had been earned at the time of the termination of this Leasetermination;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Monthly Rent that and Additional Rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Monthly Rent and Additional Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; and;
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result from Tenant’s default, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) cost of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition commissions and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting, including necessary repair, demolition and renovation of the Premises to the condition existing immediately prior to Tenant’s occupancy, the unamortized portion of any brokerage commissions funded by Landlord in connection with this Lease, the cost of rectifying any damage to the Premises occasioned by the act or omission of Tenant, reasonable attorneys’ fees, and any other reasonable costs; and
(v) At Landlord’s election, all other amounts in addition to or in lieu of the foregoing as may be permitted by Applicable Law. As used in Subsections (i) and (ii) above, the “worth at the time of award” shall be computed by allowing interest at the Applicable Rate. As used in Subsection (iii) above, the “worth at the time of award” shall be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(b) Landlord may elect not to terminate Tenant’s right to possession of the Premises, in which event this Lease will continue in full force and effect as long as Landlord does not terminate Tenant’s right to possession, and Landlord shall have 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 the right to sublet or assign, subject only to reasonable limitations) and Landlord may continue to enforce all of its rights and remedies under this Lease, including the right to collect all Rent as it becomes due. If Landlord elects to avail itself of the remedy provided by this Section 15.3(b), Landlord shall not unreasonably withhold its consent to an assignment or subletting of the Premises subject to the standards and conditions for Landlord’s consent as are contained in this Lease (which standards and conditions Tenant acknowledges and agrees are reasonable at the time this Lease is executed by Tenant). In addition, if Tenant has entered into a sublease which is valid under the terms of this Lease, Landlord may also, at its option, cause Tenant to assign to Landlord the interest of Tenant under said sublease, including, but not limited to, Tenant’s right to payment of Rent as it becomes due. Landlord may elect to enter the Premises and relet them, or any part of them, to third parties for Tenant’s account. Tenant shall be liable immediately to Landlord for all costs Landlord incurs in reletting the Premises, including, but not limited to, broker’s commissions, expenses of cleaning and remodeling the Premises required by the reletting, attorneys’ fees and like costs. Reletting can be for a period shorter or longer than the remaining Term of this Lease and for the entire Premises or any portion thereof. Tenant shall pay to Landlord the Monthly Rent and Additional Rent due under this Lease on the dates the Monthly Rent and such Additional Rent are due, less the Rent Landlord actually collects from any reletting. Except as provided in the preceding sentence, if Landlord relets the Premises or any portion thereof, such reletting shall not relieve Tenant of any obligation hereunder. Notwithstanding the above, no act by Landlord allowed by this Section 15.3(b) shall terminate this Lease unless Landlord notifies Tenant in writing that Landlord elects to terminate this Lease.
Appears in 2 contracts
Samples: Office Lease (Eargo, Inc.), Office Lease (Eargo, Inc.)
Landlord’s Remedies. In Upon the occurrence of any event of an Event default, Landlord may, at Landlord's sole option, exercise any or all of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rights:remedies, together with any such other remedies as may be available to Landlord at law or in equity.
(a) Landlord shall have the right to may terminate this Lease by giving Tenant written notice of its election to do so, as of a specified date not less than thirty (30) days after the date of the giving of such notice and Tenant's right this Lease shall then expire on the date so specified, and Landlord shall then be entitled to immediately regain possession of the Premises as if the date had been originally fixed as the expiration date of the term of this Lease. Landlord may then re-enter upon the Premises, either with or without due process of law, and remove all persons therefrom, the statutory notice to quit or any other notice to quit being hereby expressly waived by giving written notice of termination to Tenant. No act Tenant expressly agrees that the exercise by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premisesright of re-entry shall not be a bar to or prejudice in any way other legal remedies available to Landlord. Should Landlord at any time terminate this Lease for any breachIn that event, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under from Tenant as and for liquidated damages an amount equal to the rent and additional rent reserved in this Lease less any and all amounts received by Landlord from the rental of the Premises to another tenant. Nothing herein contained, however, shall include without limitation:
(i) The worthlimit or prejudice the right of Landlord to prove for and obtain as liquidated damages, by reason of such termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time of awardwhen, and governing the proceedings in which such damages are to be proved, whether or not such amount may be greater, equal to, or less than the amount of the unpaid Rent that has been earned at difference referred to above, and the time of Landlord may, in his own name, but as agent for Tenant, re-let the termination of this Lease;Premises. Any recovery by the Landlord shall be limited to the rent hereunder (plus any costs incurred in re-letting) less any rent actually paid by the new tenant.
(iib) The worth, at the time of award, of the amount by which the unpaid Rent that would have been earned after the date of No termination of this Lease until the time or any taking of award exceeds the amount possession of the loss Premises shall deprive Landlord of Rent that any of its remedies or actions against Tenant proves could have been reasonably avoided;for past or future rent, nor shall the bringing of any action for rent or breach of covenant, or the resort to any other remedy herein provided for the recovery of rent, be construed as a waiver of the right to obtain possession of the Premises.
(iiic) The worthIn addition to any damages becoming due under this paragraph, at the time of awardLandlord shall be entitled to recover from Tenant and Tenant shall pay to Landlord an amount equal to all expenses, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costsif any, advertising costs and brokers' commissions) of incurred by the Landlord in recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other reasonable costs and charges for the care of said Premises while vacant, which damages shall be due and payable by Tenant to Landlord at such time or times as such expenses are incurred by the Landlord.
(d) In the event of relettinga default or threatened default by Tenant of any of the terms or conditions of this Lease, Landlord shall have the right of injunction and the right to invoke any remedy allowed by law or in equity as if no specific remedies of Landlord were set forth in this Lease.
(e) If default be made and a compromise and settlement shall be had thereupon, it shall not constitute a waiver of any covenant herein contained, nor of the Lease itself.
Appears in 2 contracts
Samples: Lease Agreement (Bioanalytical Systems Inc), Lease Agreement (Vanda Pharmaceuticals Inc.)
Landlord’s Remedies. If TENANT fails to perform any affirmative duty or obligation of TENANT under this Lease, within ten (10) days after written notice to TENANT (or in case of an emergency, without notice), LANDLORD may at its option (but without obligation to do so), perform such duty or obligation on TENANT’s behalf including but not limited to the obtaining of reasonably required bonds, insurance policies, or governmental licenses, permits or approvals. The costs and expenses of any such performance by LANDLORD shall be due and payable by TENANT to LANDLORD upon invoice therefor. In the event of an Event a default of Default under this Lease by TENANT, as defined in Section 10.01 then Landlord24 1, with or without further notice or demand, and without limiting LANDLORD in addition to the exercise of any other rights right or remedies it remedy which LANDLORD may have at lawby reason of such breach, in equity or otherwise, shall have the following rightsLANDLORD may:
(a) Landlord shall have the right to terminate this Lease and Tenant's Terminate TENANT’s right to possession of the Leased Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant any lawful means, in which case this Lease and the term hereof shall terminate this Lease or Tenant's right to and TENANT shall immediately surrender possession of the PremisesLeased Premises to LANDLORD. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord In such event LANDLORD shall be entitled to recover under this Lease shall include without limitation:
from TENANT: (i) The worth, the worth at the time of award, the award of the unpaid Rent that has rent which had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of such rental loss that the loss of Rent that Tenant TENANT proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of such rental loss that the loss of Rent that Tenant TENANT proves could be reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord LANDLORD for all the detriment proximately caused by Tenant's breachthe TENANT’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, including but not limited to, to the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) cost of recovering possession of the Leased Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting, including necessary renovation and alteration of the Leased Premises, reasonable attorneys’ fees, and that portion of the leasing commission paid by LANDLORD applicable to the unexpired term of this Lease. The worth at the time of award of the amount referred to in provisions (i) and (ii) of the prior sentence shall be calculated based on an interest rate equal to the highest rate permitted by applicable law. The worth at the time of award of the amount referred to in provision (iii) of the prior sentence shall be 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. Efforts by LANDLORD to mitigate damages caused by TENANT’S breach of this Lease shall not waive LANDLORD’s right to recover damages under this Paragraph. If termination of this Lease is obtained through the provisional remedy of unlawful detainer, LANDLORD shall have the right to recover in such proceeding the unpaid rent and damages as are recoverable therein, or LANDLORD may reserve therein the right to recover all or any part thereof in a separate suit for such rent and/or damages. If a notice and grace period required under Sections 24.1(a) or (g) was not previously given, a notice to pay rent or quit, or to perform or quit, as the case may be, given to TENANT under any statute authorizing the forfeiture of leases for unlawful detainer shall also constitute the applicable notice for grace period purposes required by Sections 24.1(a) or (g). In such case, the applicable grace period under Sections 24.1(a) or (g) and under the unlawful detainer statute shall run concurrently after the one such statutory notice, and the failure of TENANT to cure the default within the greater of the two such grace periods shall constitute both an unlawful detainer and breach of this Lease entitling LANDLORD to the remedies provided for in this Lease and/or by said statute
(b) Continue the Lease and TENANT’s right to possession in effect (in California under California Civil Code Section 1951.4) after TENANT’s breach and abandonment and recover the rent as it becomes due, provided TENANT has the right to sublet or assign, subject only to reasonable limitations. See Article 8 for the limitations on assignment and subletting which limitations TENANT and LANDLORD agree are reasonable. Acts of maintenance or preservation, efforts to relet the Leased Premises, or the appointment of a receiver to protect the LANDLORD’s interest under the Lease, shall not constitute a termination of the TENANT’s right to possession.
(c) Pursue any other remedy now or hereafter available to LANDLORD under the laws or judicial decisions of the State of California. Unpaid installments of rent and other unpaid monetary obligations of TENANT under the terms of this Lease shall bear interest from the date due at the maximum rate allowed by law
(d) The expiration or termination of this Lease and/or the termination of TENANT’s right to possession shall not relieve TENANT from liability under any indemnity provisions of this Lease as to matters occurring or accruing during the term hereof or by reason of TENANT’s occupancy of the Leased Premises
Appears in 2 contracts
Samples: Standard Business Park Lease (GLAUKOS Corp), Standard Business Park Lease (GLAUKOS Corp)
Landlord’s Remedies. In the event of an Event of Default any default by Tenant under Section 10.01 then this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to SECTION 21.2), but without additional notice or demand from Landlord, if any, as provided in SECTION 21.2 has expired, may, in addition to any all other rights and remedies provided in this Lease, or remedies it may have otherwise at law, law or in equity or otherwise, shall have the following rights:
equity: (a) Landlord shall have the right to terminate this Lease and Tenant's right to of 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 giving written notice Landlord, in its sole, but - reasonable, discretion. In the event of the termination to Tenant. No act of this Lease by Landlord other than giving express written notice pursuant to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach(a) above, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
from Tenant (i) The worth, at the time of award, of the unpaid Rent all damages and other sums that has been earned at the time of the termination of this Lease;
(ii) 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 Landlord is entitled to recover under any provision of this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, or at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breachlaw 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 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, court costswithout limitation, advertising costs and brokers' commissionsan amount equal to the positive difference, if any, between (x) the DISCOUNTED PRESENT VALUE (AT 6% PER ANNUM) of recovering possession the Base Rent provided to be paid for the remainder of the Premises, removing persons or property therefrom, placing Term (measured from the effective termination date of this Lease) and (y) the fair market rental value of the Leased Premises in good order, condition and repair, preparing and altering (determined at the Premises for reletting and all other date of termination of this Lease) after deduction (from such fair market rental value) of the projected costs and expenses of reletting the Premises (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and the Premises are relet and a sufficient sum is not realized therefrom, then to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period (after payment of all Landlord' s reasonable expenses of reletting), Tenant shall, in Landlord's sole judgment, either (i) pay any such deficiency monthly or (ii) pay such deficiency on an accelerated basis, which accelerated deficiency shall be discounted at a rate of 6% per annum. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and Landlord fails to relet the Premises, then Tenant shall pay to Landlord the sum of (x) the projected costs of Landlord's expenses of reletting (including the anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord and (y) the accelerated amount of Base Rent and Additional Rent due under the Lease for the balance of the Term, discounted to present value at a rate of 6% per annum. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. If Landlord elects to pursue its rights and remedies under Subsection (b), then Landlord shall at any time have the further right and remedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to clause (b) of this Section 22.2, to terminate Tenant's right of possession -only, without terminating this Lease, Landlord may, at Landlord' s option, enter into the Premises, remove Tenant's Property, Tenant's signs and other evidences of tenancy, and take and hold possession thereof, as provided in Section 20 hereof; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant's obligation to pay the Base Rent and Additional Rent reserved hereunder for the full Term, or from any other obligation of Tenant under this Lease. Any and all property that may be removed from the Premises by Landlord pursuant to the authority of the Lease or of law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the risk, cost and expense of Tenant, and in no event or circumstance shall Landlord be responsible for the- value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such removal and all storage charges against such property so long as the same shall be in Landlord's possession or under Landlord's control. Any such property of Tenant not retaken from storage by Tenant within 30 days after the end of the Term, however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as in a xxxx of sale, without further payment or credit by Landlord to Tenant. However, the foregoing shall not release or absolve Landlord of its obligation to reasonably mitigate damages.
Appears in 2 contracts
Samples: Industrial Building Lease (Natural Golf Corp), Industrial Building Lease (Natural Golf Corp)
Landlord’s Remedies. In Upon the event occurrence of an Event any of Default under Section 10.01 then Landlordsuch events of default, in addition to any other rights or remedies it may have at law, in equity or otherwise, Landlord shall have the option to pursue any one or more of the following rights:remedies without any notice or demand whatsoever;
(a) Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord. Landlord shall have the right may, without prejudice to terminate this Lease any other remedy which it may have, enter upon and Tenant's right to take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, by giving written notice force, if necessary, without being liable for prosecution or any claim of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall damages therefore.
(b) Not terminate this Lease or Tenant's right to lease but rather enter upon and take possession of the Premises and, if Landlord so elects, make such alterations and repairs as may be necessary to relet the Premises, and relet the Premises or any part thereof, as the agent of Tenant, at such rent and for such term and subject to such terms and conditions as Landlord may deem advisable and receive the rent therefore. Upon each such reletting all rentals received by the Landlord from such relenting shall be applied, first, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any loss and expenses of such relenting, including brokerage fees and attorneys' fees and costs of such alterations and repairs; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder, and Tenant agrees to pay to Landlord on demand any deficiency that may arise by reason of such relenting. Notwithstanding any such relenting without termination, Landlord may at any time thereafter elect to terminate this lease for such previous breach.
(c) Should Landlord at any time terminate this Lease lease for any breach, in addition to any other remedy remedies it may have, it is hereby agreed may recover from Tenant all damages it may incur by Landlord reason of such breach, including the cost of recovering the Premises reasonable attorneys' fees, and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, worth at the time of award, such termination of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) The worthexcess, at the time of awardif any, of the amount of rent and charges equivalent to rent, reserved in this lease for the remainder of the Term over the then reasonable rental value of the Premises for the remaining portion of the Term, all of which amounts shall be immediately due and payable from Tenant to Landlord. In determining the rent which would be payable by which Tenant hereunder, subsequent to default, the unpaid Rent that would have been earned after annual rent for each year of the date of termination of this Lease until unexpired term shall be equal to the average Minimum Guaranteed Rental and percentage rent paid by Tenant from the Rental Commencement Date to the time of award exceeds default or during the amount preceding two (2) calendar years, whichever period is shorter.
(d) Pursuit of any of the loss foregoing remedies shall not preclude pursuit of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, any of the amount other remedies herein provided or any other remedies provided by which the unpaid Rent for the balance law, nor shall pursuit of any remedy herein provided constitute a forfeiture or waiver of any rent due to Landlord hereunder or of any damages accruing to Landlord by reason of the stated term hereof (determined without regard to the termination violation of this Lease for Tenant's breach) after the time of award exceeds the amount any of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary covenants and provisions herein contained. Forbearance by Landlord to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession enforce one or more of the Premises, removing persons remedies herein provided upon an event of default shall not be deemed or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses construe to constitute a waiver of relettingsuch default.
Appears in 2 contracts
Samples: Lease Agreement (Megamedia Networks Inc), Lease Agreement (Megamedia Networks Inc)
Landlord’s Remedies. In 25.1 Upon the event occurrence of an Event of Default under Section 10.01 then Default, Landlord, at its option, without further notice or demand to Tenant, shall have in addition to any all other rights and remedies provided in this Lease, at law or remedies it may have at lawin equity, in equity the option to pursue any one or otherwise, shall have more of the following rights:remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever.
(a) Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord shall may, without prejudice to any other remedy which it may have the right to terminate this Lease for possession or arrearages in rent, enter upon and Tenant's right to take possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to and expel or remove Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to and any other remedy it person who may havebe occupying the Premises or any part thereof, it is hereby agreed by without being liable for prosecution or any claim or damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfollowing:
(i) The worth, worth at the time of award, award of the any unpaid Rent that rent which has been earned at the time of the termination of this Lease;such termination; plus
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; andplus
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, specifically including but not limited to, brokerage commissions and advertising expenses incurred, expenses of remodeling the costs Premises or any portion thereof for a new tenant, whether for the same or a different use, and expenses any special concessions made to obtain a new tenant; and
(including attorneys' feesv) At Landlord's election, court costs, advertising costs and brokers' commissions) of recovering possession such other amounts in addition to or in lieu of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingforegoing as may be permitted from time to time by applicable law.
Appears in 2 contracts
Samples: Office Lease (Team Communication Group Inc), Office Lease (Team Communication Group Inc)
Landlord’s Remedies. In 25.1 Upon the event occurrence of an Event of Default under Section 10.01 then Default, Landlord, at its option, without further notice or demand to Tenant, shall have in addition to all other rights and remedies provided in this Lease, at law or in equity, the option to pursue any one or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever.
25.1.1 Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other rights or remedies remedy which it may have at lawfor possession or arrearages in Rent, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease enter upon and Tenant's right to take possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to and expel or remove Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to and any other remedy it person who may havebe occupying the Premises or any part thereof, it is hereby agreed by without being liable for prosecution or any claim or damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfollowing:
(i) 25.1.1.1 The worth, worth at the time of award, award of the any unpaid Rent that rent which has been earned at the time of the termination of this Lease;such termination; plus
(ii) 25.1.1.2 The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) 25.1.1.3 The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; andplus
(iv) 25.1.1.4 Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, specifically including but not limited to, brokerage commissions and advertising expenses incurred, expenses of remodeling the costs Premises or any portion thereof for a new tenant, whether for the same or a different use, and expenses (including attorneys' feesany special concessions made to obtain a new tenant; and
25.1.1.5 At Landlord’s election, court costs, advertising costs and brokers' commissions) of recovering possession such other amounts in addition to or in lieu of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingforegoing as may be permitted from time to time by applicable law.
Appears in 2 contracts
Samples: Office Lease (Pacific Mercantile Bancorp), Office Lease (Abraxis BioScience, Inc.)
Landlord’s Remedies. In Landlord shall have any one or more of the event following remedies after the occurrence of an Event of Default under Section 10.01 then Landlord, a default by Tenant. These remedies are not exclusive; they are cumulative in addition to any other rights remedies now or remedies it may have at later allowed by law, in equity equity, or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate 17.2.1 Terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant, in which event Tenant immediately shall surrender the Premises to Landlord. If Tenant fails to so surrender the Premises, then Landlord, without prejudice to any other remedy it has for possession of the Premises or arrearages in rent or other damages, may re-enter and take possession of the Premises and expel or remove Tenant and any other person or entity occupying the Premises or any part thereof, without being liable for any damages, whether caused by negligence of Landlord or otherwise.
17.2.2 No act by Landlord other than giving express written notice of termination to Tenant shall terminate this Lease or Tenant's right Lease. Acts of maintenance, efforts to possession of relet the Premises. Should Landlord at any time terminate this Lease for any breach, in addition or the appointment of a receiver on Landlord’s initiative to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover protect Landlord’s interest under this Lease shall include without limitationnot constitute a termination of this Lease. On termination of the Lease, Landlord shall have the right to recover from Tenant:
(i) The worth, worth at the time of award, the award of the unpaid Rent rent that has had been earned at the time of the termination of this Lease;; and
(ii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent rent that would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the loss of Rent rent that Tenant proves reasonably could have been reasonably avoided;; and
(iii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent rent that Tenant proves reasonably could be reasonably have been avoided; and
(iv) Any other amount amount, including, without limitation, attorneys’ fees and court costs, necessary to compensate Landlord for all detriment proximately caused by Tenant's breach’s default. The phrase “worth at the time of the award” as used in clauses (i) and (ii) above is to be computed by allowing interest at the rate of ten percent (10%) per annum, but not to exceed the then legal rate of interest. The same phrase as used in clause (iii) above is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%). The term “rent” as used in this Section 17.2.2 means the Monthly Rent and all other sums payable by Tenant hereunder, including, without limitation, Taxes and insurance.
17.2.3 Landlord may re-enter and take possession of the Premises without terminating this Lease and without being liable for any damages, whether caused by the negligence of Landlord or otherwise. Landlord may relet the Premises, or any part of them, to third parties, but has no obligation to do so. Landlord may relet the Premises on whatever terms and conditions Landlord, in its sole discretion, deems advisable. Reletting can be for a period shorter or longer than the remaining term of this Lease. Landlord’s action under this Subsection is not considered an acceptance of Tenant’s surrender of the Premises unless Landlord so notifies Tenant in writing. Tenant shall be immediately liable to Landlord for all costs Landlord incurs in reletting the Premises, including brokers’ commissions, expenses of remodeling the Premises required by the reletting, and like costs. Tenant shall pay to Landlord the rent due under this Lease on the dates the rent is due, less the rent Landlord receives from any reletting. If Landlord elects to relet the Premises without terminating this Lease, any rent received will be applied to the account of Tenant, not to exceed Tenant’s total indebtedness to Landlord; no reletting by Landlord is considered to be for its own account unless Landlord has notified Tenant in writing that the Lease has been terminated. If Landlord elects to relet the Premises, rent that Landlord receives from reletting will be applied to the payment of: (i) first, any indebtedness from Tenant to Landlord other than rent due from Tenant; (ii) second, all costs, including maintenance, incurred by Landlord in reletting; and (iii) third, rent due and unpaid under the Lease. After deducting the payments referred to in this Subsection, any sum remaining from the rent Landlord receives from reletting will be held by Landlord and applied in payment of future rent as rent becomes due under this Lease. If, on the date rent is due under this Lease, the rent received from the reletting is less than the rent due on that date, Tenant will pay to Landlord, in addition to the remaining rent due, all costs, including maintenance, Landlord incurred in reletting which remain after applying the rent received from the reletting. Tenant shall have no right to or interest in the rent or other consideration received by Landlord from reletting to the extent it exceeds Tenant’s total indebtedness to Landlord.
17.2.4 Re-enter the Premises without terminating this Lease and without being liable for any damages, whether caused by the negligence of Landlord or otherwise, and do whatever Tenant is obligated to do under the terms of this Lease. The expenses incurred by Landlord in affecting compliance with Tenant’s obligations under this Lease immediately shall become due and payable to Landlord as additional rent.
17.2.5 In all events, Tenant is liable for all damages of whatever kind of nature, direct or indirect, suffered by Landlord as a result of the occurrence of an Event of Default. If Tenant fails to pay Landlord in a prompt manner for the damages suffered, Landlord may pursue a monetary recovery from Tenant. Included among these damages are all expenses incurred by Landlord in repossessing the Premises (including, but not limited to, increased insurance premiums resulting from Tenant’s vacancy), all expenses incurred by Landlord in reletting the Premises (including, but not limited to, those incurred for advertisements, brokerage fees, repairs, remodeling, and replacements), all concessions granted to a new tenant on a reletting, all losses incurred by Landlord as a result of Tenant’s default (including, but not limited to, any unamortized commissions paid in connection with this Lease), a reasonable allowance for Landlord’s administrative costs attributable to Tenant’s default, and all attorneys’ fees incurred by Landlord in enforcing any of Landlord’s rights or remedies against Tenant.
17.2.6 Pursuit of any of the foregoing remedies does not constitute an irrevocable election of remedies nor preclude pursuit of any other remedy provided elsewhere in this Lease or by applicable law, and none is exclusive of another unless so provided in this Lease or by applicable law. Likewise, forbearance by Landlord to enforce one or more of the remedies available to it on an Event of Default does not constitute a waiver of that default or of the right to exercise that remedy later or of any rent, damages, or other amounts due to Landlord hereunder.
17.2.7 Whether or not Landlord elects to terminate this Lease or Tenant’s right to possession of the Premises on account of any default by Tenant, Landlord shall have all rights and remedies at law or in equity, including, but not limited to, the costs right to re-enter the Premises and, to the maximum extent provided by law, Landlord shall have the right to terminate any and expenses (including attorneys' feesall subleases, court costslicenses, advertising costs concessions, or other consensual arrangements for possession entered into by Tenant and brokers' commissions) affecting the Premises or, in Landlord’s sole discretion, may succeed to Tenant’s interest in such subleases, licenses, concessions, or arrangements. In the event of recovering possession Landlord’s election to succeed to Tenant’s interest in any such subleases, licenses, concessions, or arrangements, Tenant shall have no further right to or interest in the rent or other consideration receivable thereunder as of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses date of relettingnotice by Landlord of such election.
Appears in 1 contract
Samples: Commercial Ground Lease (Palace Entertainment Holdings, Inc.)
Landlord’s Remedies. In the event of an Event of Default under Section 10.01 then Landlorddefault, Landlord in addition to any other rights or and all legal and equitable remedies it may have at law, in equity or otherwisehave, shall have the following rightsremedies:
(a) To distrain for any Rent in default; and
(b) At any time after default, without notice, to declare this Agreement terminated and enter the Leased Premises with or without legal process; and in such event Landlord shall have the right benefit of all provisions of law now or hereafter in force respecting the speedy recovery of possession from Tenant holding over to terminate the same extent as if this Lease Agreement had not been entered into and Tenant's right Tenant waives any and all provisions for notice under such laws.
(c) In the event of such termination, Tenant shall immediately be liable to possession Landlord for the sum of the Premises by giving written notice following: (i) all Rent then in arrears, without apportionment to the termination date; (ii) all other liabilities of termination to Tenant. No act Tenant then accrued under this Agreement; (iii) all of Landlord's costs and expenses (including reasonable counsel fees) in connection with such default and recovery of possession; and (iv.) all costs and expenses incurred by Landlord in reletting the Leased Premises (without any obligation of Landlord's part to cause such reletting) including brokerage commissions, rent concessions, tenant improvement allowances and other than giving express written notice to Tenant shall terminate this Lease costs and expenses whether similar or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in dissimilar.
(d) In addition to any other remedy it may havethe remedies in section 27.02(c), it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
elect as damages (i) The worth, at the time of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) The worth, at the time of award, of the amount by which the unpaid Rent that would have been earned after Rent, apportioned from the date of termination to the end of this Lease until the time stated Term exceeds the then fair rental value of award exceeds the Leased Premises for such period, (ii) all Rental due hereunder as and when the same would have become due but for the termination less the amount of any rent for the loss of Rent that Tenant proves could have been reasonably avoided;
Leased Premises actually paid to Landlord, or (iii) The worthliquidated damages in the amount of one years' Rent due and payable hereunder, at the time of award, parties hereto agreeing that the same would be a fair and reasonable estimate of the amount damages incurred by Landlord if Tenant defaults hereunder. In pursuing damages, Landlord may bring one or more actions to recover such damages as have accrued to date, and no one such action shall be deemed to be a bar to or waiver of any subsequent action. If this Lease is terminated, Landlord may re-lease the Leased Premises or any part thereof, alone or together with other premises, for such term(s) (which may be greater or less than the unpaid Rent for period which otherwise would have constituted the balance of the stated term hereof Term) and on such terms and conditions (determined without regard which may include concessions or free rent and alterations of the Leased Premises) as Landlord, in its sole discretion, may determine. The failure or refusal of Landlord to re-lease the termination of this Lease for Premises or any part or parts thereof shall not release or affect Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord liability for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingdamages.
Appears in 1 contract
Landlord’s Remedies. In Upon the event occurrence of an Event any default set forth in Section 32 above which is not cured by Tenant within the applicable cure period provided therein, if any, Landlord may exercise all or any of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rightsremedies:
(a) terminate this Lease by giving Tenant written notice of termination, in which event this Lease shall terminate on the date specified in such notice and all rights of Tenant under this Lease shall expire and terminate as of such date, Tenant shall remain liable for all obligations under this Lease up to the date of such termination and Tenant shall surrender the Premises to Landlord on the date specified in such notice; and if Tenant fails to so surrender, Landlord shall have the right right, by judicial process, to terminate this Lease enter upon and Tenant's right to take possession of the Premises by giving written notice of termination and to Tenant. No act by Landlord other than giving express written notice to expel and remove Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition and its effects without prejudice to any other remedy it remedies that Landlord may have, it is hereby agreed have by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, at the time reason of award, of the unpaid Rent that has been earned at the time of Tenant's default or the termination of this Lease;
(iib) If this Lease is terminated, Landlord shall have all of the rights and remedies of a landlord provided by Civil Code § 1951.2, in addition to any other rights and remedies Landlord may have. The worthdamages which Landlord may recover shall include, without limitation, (i) the worth at the time of award, award of the unpaid rent which had been earned at the time of termination; (ii) the worth at the time of award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of the award exceeds the amount of the rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, award computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%) of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the rental loss of Rent that Tenant proves could be reasonably avoided; (iv) all reasonable legal expenses and other related costs incurred by Landlord following Tenant's default; (v) all reasonable costs incurred by Landlord in restoring the Premises to good order and condition to relet the Premises; and (vi) all reasonable costs, including without limitation, any brokerage commissions incurred by Landlord in reletting the Premises;
(c) to continue this Lease in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may enforce all rights and remedies under this Lease, including the right to recover the rental as it becomes due under this Lease. Acts of maintenance or preservation, efforts to relet the Premises, or the appointment of a receiver upon initiative of Landlord to protect Landlord's interest under this Lease shall not constitute a termination of Tenant's right to possession.
(d) pursue such other remedies as are available at law or in equity; and
(ive) Any Landlord may, without waiving or releasing Tenant from any obligations of Tenant, make payment or perform other amount necessary to compensate Landlord for all detriment proximately caused acts required by this Lease on Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting behalf and all other sums so paid by Landlord and all necessary incidental costs so incurred shall be payable to Landlord on demand and expenses of relettingshall constitute Additional Rent under this Lease.
Appears in 1 contract
Samples: Industrial Lease Agreement (Altigen Communications Inc)
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then 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, in addition without formal demand or notice of any kind, to re-enter the Premises by summary dispossession proceedings or any other rights action or remedies it may have at lawproceeding authorized by law and to remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate 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 ’s right to possession of the Premises by giving written notice of termination to Tenant. No act is terminated by Landlord other than giving express written notice to because of an Event of Default by Tenant shall terminate under this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachLease, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
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, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease 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 of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's ’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, includingand 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, but 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 also 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, are not limited to, restricted to their technical legal meanings. Any reletting of the costs Premises shall be on such terms and expenses conditions as Landlord in its sole discretion may determine (including attorneys' feeswithout limitation a term different then the remaining Lease Term, court costsrental concessions, advertising costs alterations and brokers' commissions) of recovering possession repair of the Premises, removing persons lease of less than the entire Premises to any tenant and leasing any or property therefromall other portions of the Project before reletting the Premises). Landlord shall not shall not be liable, placing nor shall Tenant’s obligations hereunder be diminished become of, Landlord’s failure to refer the Premises or collect rent due in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses respect of such reletting.
Appears in 1 contract
Landlord’s Remedies. In Upon the occurrence of any event of an Event default, Landlord may, at Landlord's sole option, exercise any or all of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rights:remedies, together with any such other remedies as may be available to Landlord at law or in equity.
(a) Landlord shall have the right to may terminate this Lease by giving Tenant written notice of its election to do so, as of a specified date not less than thirty (30) days after the date of the giving of such notice and Tenant's right this Lease shall then expire on the date so specified, and Landlord shall then be entitled to immediately regain possession of the Premises as if the date had been originally fixed as the expiration date of the term of this Lease. Landlord may then re-enter upon the Premises, either with or without due process of law, and remove all persons therefrom, the statutory notice to quit or any other notice to quit being hereby expressly waived by giving written notice of termination to Tenant. No act Tenant expressly agrees that the exercise by Landlord of the right of re-entry shall not be a bar to or prejudice in any way other legal remedies available to Landlord. In that event, Landlord shall he entitled to recover from Tenant as and for liquidated damages an amount equal to the rent and additional rent reserved in this Lease less any and all amounts received by Landlord from the rental of the Premises to another tenant. Nothing herein contained, however, shall limit or prejudice the right of Landlord to prove for and obtain as liquidated damages, by reason of such termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which such damages are to be proved, whether or not such amount may be greater, equal to, or less than giving express written notice the amount of the difference referred to Tenant above, and the Landlord may, in his own name, but as agent for Tenant, re-let the Premises. Any recovery by the Landlord shall terminate be limited to the rent hereunder (plus any costs incurred in re-letting) less any rent actually paid by the new tenant.
(b) No termination of this Lease or Tenant's any taking of possession of the Premises shall deprive Landlord of any of its remedies or actions against Tenant for past or future rent, nor shall the bringing of any action for rent or breach of covenant, or the resort to any other remedy herein provided for the recovery of rent, be construed as a waiver of the right to obtain possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in .
(c) In addition to any other remedy it may havedamages becoming due under this paragraph, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease from Tenant and Tenant shall include without limitation:
(i) The worthpay to Landlord an amount equal to all expenses, at the time of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) 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 this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costsif any, advertising costs and brokers' commissions) of incurred by the Landlord in recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other reasonable costs and charges for the care of said Premises while vacant, which damages shall be due and payable by Tenant to Landlord at such time or times as such expenses are incurred by the Landlord.
(d) In the event of relettinga default or threatened default by Tenant of any of the terms or conditions of this Lease, Landlord shall have the right of injunction and the right to invoke any remedy allowed by law or in equity as if no specific remedies of Landlord were set forth in this Lease.
(e) If default be made and a compromise and settlement shall be had thereupon, it shall not constitute a waiver of any covenant herein contained, nor of the Lease itself.
Appears in 1 contract
Samples: Lease Agreement (Gene Logic Inc)
Landlord’s Remedies. In (a) Upon the event occurrence of an Event of Default under Section 10.01 then Landlord15.1, Landlord shall have the following rights and remedies, subject to the rights of Franchisor or Tenant Lender under the provisions of Section 15.3 and Section 20.2:
(i) To terminate this Lease and Tenant’s right of possession of the Premises by giving notice of such election to Tenant, in which event, 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. Upon such termination, in addition to any other rights or and remedies it to which Landlord may have at be entitled under applicable law, in equity or otherwise, shall have the following rights:
Landlord may recover from Tenant: (a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, worth at the time of award, award of the unpaid Rent that has which had been earned after termination until the time of such termination; plus (b) the worth at the time of the termination of this Lease;
(ii) The worth, at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could have been reasonably avoided;
; plus (iiic) The worth, the worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could be reasonably avoided; and
plus (ivd) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; plus (e) such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law. The “worth at the time of award” of the amounts referred to in clauses (a) and (b) above shall be computed by allowing interest at the prime rate (as defined in Section 23.6). The “worth at the time of award” of the amount referred to in clause (c) above shall be computed by discounting such amount at a rate equal to the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percentage point;
(ii) To terminate Tenant’s right of possession of the Premises without terminating this Lease by giving notice of such election to Tenant, includingin which event (A) Tenant shall immediately surrender possession thereof to Landlord, but failing which Landlord may expel or remove Tenant and any other occupant(s) thereof in accordance with applicable law (“Reentry”), and (B) Landlord shall have the right to occupy the Premises for and on account of Tenant and to collect any unpaid rentals and other charges which have or may thereafter become due and payable;
(iii) To exercise the rights described in clause (ii) above and thereafter elect to terminate this Lease and all of Tenant’s rights in or to the Premises by giving notice of such election to Tenant; or
(iv) To exercise any other right or remedy now or hereafter existing by law or in equity.
(b) If Landlord reenters the Premises under subsection (a)(ii) above, such reentry or any action, in unlawful detainer or otherwise, to obtain possession of the Premises shall not limited tobe deemed to be an election by Landlord to terminate this Lease, or Tenant’s liability to pay Rent or other charges thereafter accruing, or Tenant’s liability for damages under any provisions hereof, unless Landlord elects to terminate this Lease by written notice to that effect given to Tenant. Tenant covenants that the service by Landlord of any notice pursuant to the unlawful detainer statutes of the State in which the Premises is located and the surrender of possession pursuant to such notice shall not be deemed to be a termination of this Lease, unless Landlord elects to the contrary by written notice to that effect given to Tenant at the time of or after the service of any such statutory notice. If Landlord reenters or takes possession of the Premises as aforesaid, Landlord shall have the right, subject to the provisions of this Lease, including without limitation, the costs provisions of Section 16.2, to remove therefrom all or any part of the personal property located therein and expenses may dispose of or place the same in storage at a public warehouse at the expense and risk of Tenant; provided, however, that Landlord shall not be obligated to remove and/or dispose of any such personal property.
(including attorneys' fees, court costs, advertising costs c) If Landlord elects to reenter the Premises under subsection (a)(ii) above and brokers' commissions) of recovering takes possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition Landlord shall use commercially reasonable efforts to mitigate Landlord’s damages and repair, preparing and altering to relet the Premises for a term, rate and upon such other provisions as Landlord deems appropriate. If Landlord so reenters and takes possession of the Premises, Landlord may decorate, repair and alter the Premises to the extent Landlord deems appropriate for purposes of such reletting. If Landlord is unable to so relet the Premises, then Tenant shall pay to Landlord monthly on the first day of each month during the period that Tenant’s right to possession is terminated, a sum equal to the Rent due under this Lease for that month. If the Premises are relet, Landlord shall apply the rents therefrom first to payment of Landlord’s expenses incurred by reason of Tenant’s default, second, to payment of Landlord’s expenses of reletting, including without limitation, brokerage fees and reasonable attorneys’ fees, and third, to payment of Rent due from Tenant under this Lease. All sums expended and concessions granted to any new tenant shall be amortized on a straight -line basis over the term of the new lease and Tenant’s liability therefor shall be limited to that portion attributable to the unexpired term of this Lease. If the sums received from such reletting are insufficient to satisfy the payment of Rent due from Tenant under this Lease for any month, Tenant shall remain liable for the deficiency. If the sums received from such reletting exceed the Rent otherwise due from Tenant for any month, Tenant shall have no rights thereto except that such excess amounts shall be applied against Rent subsequently due under this Lease. No such reletting by Landlord shall be considered to be (A) for Landlord’s own account unless and until Landlord notifies Tenant that this Lease has been terminated, and (B) an acceptance of Tenant’s surrender of the Premises unless and until Landlord so notifies Tenant.
(d) At any time after such termination of this Lease pursuant to Section 15.2(a)(i) or pursuant to law, whether or not Landlord shall have recovered any amounts under Section 15.2(a)(i) or 15.2(c), Landlord, at its option, shall be entitled to recover from Tenant and Tenant shall pay to Landlord, on demand, all reasonable legal fees and other costs and expenses incurred by Landlord as a result of relettingTenant’s default under this Lease and the exercise of any rights and remedies hereunder.
(e) Mention in this Lease of any particular remedy shall not preclude Landlord from any other remedy at law or in equity. No right or remedy conferred upon or reserved to Landlord in this Lease is intended to be exclusive of any other right or remedy; and each and every right and remedy shall be cumulative and in addition to any other right or remedy contained in this Lease. No delay or failure by Landlord or Tenant to enforce its rights under this Lease shall be construed as a waiver, modification or relinquishment thereof. Tenant waives any rights of redemption granted by any laws if Tenant is evicted or dispossessed, or if Landlord obtains possession of the Premises by reason of the violation by Tenant of any of the terms of this Lease.
Appears in 1 contract
Landlord’s Remedies. In the event of an Upon any Event of Default under Section 10.01 then LandlordDefault, Landlord shall have, in addition to any other rights remedies available to Landlord at law or in equity (which shall be cumulative and nonexclusive), the option to pursue any one or more of the following remedies it (which shall be cumulative and nonexclusive) without any notice or demand:
18.2.1 Landlord may have at lawterminate this Lease, in equity or otherwise, which event Tenant shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of immediately surrender the Premises by giving written notice of termination to Tenant. No act by Landlord, and if Tenant fails to do so, Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachmay, in addition without prejudice to any other remedy it may havehave for possession or arrearages in Rent, it is hereby agreed by enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfollowing:
(ia) The worth, worth at the time of award, award of the unpaid Rent that has which had been earned at the time of the termination of this Lease;such termination; plus
(iib) The worth, worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iiic) The worth, worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could be reasonably avoided; andplus
(ivd) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations hereunder or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, the costs and expenses (including attorneys' fees, court costsbrokerage commissions, advertising costs and brokers' commissions) expenses, expenses of recovering possession remodeling any portion of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting a new tenant (whether for the same or a different use), and any special concessions made to obtain a new tenant; plus
(e) At Landlord’s option, such other amounts in addition to or in lieu of the foregoing as may be permitted, om time to time by Applicable Law. As used in Sections 18.2.1(a) and (b), the “worth at the time of award” shall be computed by allowing interest at a rate per annum equal to the lesser of (i) the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release Publication G.13(415), published on the first Tuesday of each Calendar month (or such other comparable index as Landlord shall reasonably designate if such rate ceases to be published) plus two (2) percentage points, or (ii) the highest rate permitted by Applicable Law. As used in Section 18.2.1(c), the “worth at the time of award” shall be computed by discounting such amount at the discount, rate of the Federal Reserve Bank of San Francisco at the time of the award plus 1%.
18.2.2 Landlord shall have the remedy described in California Civil Code § 1951.4 (lessor may continue lease in effect after lessee’s breach and abandonment and recover Rent as it becomes due, if lessee has the right to sublet or assign, subject only to reasonable limitations). Accordingly, if Landlord does not elect to terminate this Lease on account of any Event of Default by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover all Rent as it becomes due.
18.2.3 Landlord shall at all times have the rights and remedies (which shall be cumulative with each other costs and expenses cumulative and in addition to those rights and remedies available under Section 18.2.1 and Section 18.2.2, or any law or other provision hereof), without prior demand or notice except as required by law, to seek any declaratory, injunctive or other equitable relief, and specifically enforce this Lease, or restrain or enjoin a violation or breach of relettingany provision hereof.
Appears in 1 contract
Samples: Multi Tenant Industrial Triple Net Lease (Thorne Healthtech, Inc.)
Landlord’s Remedies. In Upon the occurrence of any event of an Event of Default under Section 10.01 then Landlorddefault by Tenant, Landlord may, at its option and without any further notice or demand (in addition to any other rights and remedies under this Lease, at law or remedies it may have at law, in equity or otherwise, shall have equity) do any of the following rightsfollowing:
(a) Landlord shall have the right right, so long as such default continues, to terminate this Lease and Tenant's right to possession of the Premises by giving written give notice of termination to Tenant. No act by Landlord other On the date specified in such notice (which shall not be less than three (3) days after the giving express written notice to Tenant shall terminate of such notice) this Lease shall terminate;
(b) In the event of any such termination of this Lease, Landlord may then or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachthereafter re-enter the Premises and remove therefrom all persons and property and again repossess and enjoy the Premises, in addition without prejudice to any other remedy it remedies that Landlord may havehave by reason of Tenant's default or of such termination;
(c) In the event of any such termination of this Lease, it is hereby agreed by Landlord and Tenant that the may recover damages Landlord which shall be entitled to recover under this Lease shall include include, without limitation:
: (i1) The worth, the amount at the time of award, award (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) of (A) unpaid Rent that has been rent earned at the time of the termination of this Lease;
termination, (iiB) The worth, at the time of award, of the amount by which the unpaid Rent rent that would have been earned after during the date of period from termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
, and (iiiC) The worth, at the time of award, of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; and(2) all legal expenses and other related costs incurred by Landlord following Tenant's default; (3) all costs incurred by Landlord in restoring the Premises to good order and condition, or, to the extent reasonably necessary to accomplish such reletting, in remodeling, renovating, or otherwise preparing the Premises for reletting; and (4) all other costs (including without limitation any brokerage commissions) incurred by Landlord in reletting the Premises;
(ivd) Any Following the termination of this Lease (or upon Tenant's failure to remove its personal property from the Premises after the expiration of the term of this Lease), Landlord may remove any and all personal property located in the Premises and sell or place such property in a public or private warehouse or elsewhere at the sole cost and expense of Tenant in accordance with applicable Laws. Tenant waives all claims for damages that may be caused by Landlord's removing, storing or selling the property as herein provided;
(e) Landlord shall have the right to cause a receiver to be appointed in any action against Tenant to take possession of the Premises and to collect the rents or profits derived therefrom. The appointment of such receiver shall not constitute an election on the part of Landlord to terminate this Lease unless notice of such intention is given to Tenant; or
(f) Landlord shall have the remedy described in California Civil Code Section 1951.4 (i.e. Landlord may continue this Lease in effect after Tenant's abandonment and recover rent as it becomes due, because Tenant has the right to sublet or assign, subject only to reasonable limitations). 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 in periodic actions as it becomes due under this Lease. In such event, Landlord may re-enter the Premises and remove all persons and property if the Premises have not been vacated, using any available summary proceedings, without such re-entry or removal being deemed a termination or acceptance of surrender of this Lease. Landlord may then elect to relet the Premises for the account of Tenant for a period that may extend beyond the term hereof, and upon such other amount necessary to compensate terms as Landlord may reasonably deem appropriate. Tenant shall reimburse Landlord upon demand for all detriment proximately caused costs incurred by Tenant's breachLandlord in connection with such reletting, includingincluding without limitation necessary restoration, but not limited torenovation, the costs and expenses (including or improvement costs, attorneys' fees, court costsand brokerage commissions. The proceeds of such reletting shall be applied first to any sums then due and payable to Landlord from Tenant, advertising costs and brokers' commissions) including the reimbursement described above. The balance, if any, shall be applied to the payment of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingfuture rent as it becomes due hereunder.
Appears in 1 contract
Landlord’s Remedies. In If any default by Tenant continues uncured following notice of default for the event period applicable to the default under the provisions of an Event of Default under Section 10.01 then Landlordthis Lease, in addition to any other rights or remedies it may have at law, in equity or otherwise, Landlord shall have the following rights:
(a) remedies in addition to all rights and remedies provided by law or equity to which Landlord shall have may resort cumulatively or in the right to terminate this Lease and alternative: A. Terminate Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to any lawful means, in which case this Lease and the term hereof shall terminate and Tenant shall terminate this Lease or Tenant's right to immediately surrender possession of the PremisesPremises to Landlord. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages In such event Landlord shall be entitled to recover under this Lease shall include without limitation:
from Tenant: (i) The worth, the worth at the time of award, the award of the unpaid Rent that has rent which had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of such rental loss that the loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award awards exceeds the amount of such rental loss that the loss of Rent that Tenant proves could be reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by the Tenant's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, including but not limited to, to the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) cost of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorneys' fees, and that portion of the leasing commission paid by Landlord applicable to the unexpired term of this Lease. The worth at the time of award of the amount referred to in provision (iii) of the prior sentence shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). Efforts by Landlord to mitigate damages is obtained through the provisional remedy of unlawful detainer, Landlord shall have the right to recover in such proceeding the unpaid rent and damages as are recoverable therein, or Landlord may reserve therein the right to recover all or any part thereof in a separate suit for such rent and/or damages. If a notice and grace period are required under Section 10.2.A. or B. was not previously given, a notice to pay rent or quit, or to perform or quit, as the case may be, given to Tenant under any statute authorizing the forfeiture of leases for unlawful detainer shall also constitute the applicable notice for grace period purposes required by Section 10.2.A. or B. in such case, the applicable grace period under Section 10.2.A. or B. and under the unlawful detainer statute shall run concurrently after the one such statutory notice, and the failure of Tenant to cure the Default within the greater of the two such grace periods shall constitute both an unlawful detainer and a Breach of this Lease entitling Landlord to the remedies provided for in this Lease and/or by said statute.
Appears in 1 contract
Samples: Industrial/Commercial Lease (Burke Industries Inc /Ca/)
Landlord’s Remedies. In Upon the event occurrence of an any Event of Default under Section 10.01 then LandlordTenant’s Default, Landlord shall have, in addition to any other rights remedies available to Landlord at law or in equity (all of which remedies shall be distinct, separate and cumulative), the option to pursue any one or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever:
13.2.1. Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have at lawfor possession or arrearages in rent, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease enter upon and Tenant's right to take possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to and expel or remove Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to and any other remedy it person who may havebe occupying the Premises or any part thereof, it is hereby agreed by without being liable for prosecution or any claim or damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfollowing:
(i) 13.2.1.1 The worth, worth at the time of award, award of the any unpaid Rent that rent which has been earned at the time of the termination of this Lease;such termination; plus
(ii) 13.2.1.2 The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) 13.2.1.3 The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; andplus
(iv) 13.2.1.4 Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, specifically including but not limited to, brokerage commissions and advertising expenses incurred, expenses of remodeling the costs Premises or any portion thereof for a new tenant, whether for the same or a different use, and expenses (including attorneys' feesany special concessions made to obtain a new tenant; and
13.2.1.5 At Landlord’s election, court costs, advertising costs and brokers' commissions) of recovering possession such other amounts in addition to or in lieu of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingforegoing as may be permitted from time to time by applicable law.
Appears in 1 contract
Samples: Office Lease (Rodgers Silicon Valley Acquisition Corp)
Landlord’s Remedies. In Upon the occurrence of any event of an Event of Default under Section 10.01 then LandlordDefault, 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 precluding the Landlord from exercising any other rights remedy provided in this Lease or remedies it may have at law, otherwise allowed by law or in equity or otherwise, shall have the following rightsequity:
(a) Landlord shall have the right to may terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's ’s right to possession of the Premises. Should If Tenant has abandoned and vacated the Premises, the mere entry onto the Premises by Landlord at any time terminate in order to perform acts of maintenance, cure defaults, preserve the Premises, or attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord’s interest under this Lease, will not be deemed a termination of Tenant’s right to possession or a termination of this Lease for any breach, unless Landlord has notified Tenant in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant writing that the damages Landlord shall be entitled to recover under this Lease shall include without limitationis terminated. If Landlord terminates this Lease and Tenant’s right to possession of the Premises pursuant to this Section 20.2(a), then Landlord may recover from Tenant:
(i) The worth, worth at the time of awardthe award of unpaid Rent, of the unpaid Rent that has including, without limitation, Excess Expenses, which had been earned at the time of the termination of this Lease;termination; plus
(ii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of the award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; andplus
(iv) Any other amount amounts necessary to compensate Landlord for all of the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease which in the ordinary course of things would be likely to result therefrom, including, but not limited towithout limitation, recovery of Base Rent, Additional Rent, and additional or other forms of Rent for any period of free Rent theretofore enjoyed by Tenant (at rates in effect for the period immediately following such period of free Rent); recovery of the pro rata portion of any tenant improvement allowance or other leasehold improvement costs paid by Landlord to install leasehold improvements on the Premises which is applicable to that portion of the Term, including option periods, which is unexpired as of the date on which this Lease terminated; any legal expenses, brokers commissions, or finders fees in connection with reletting the Premises, and the pro rata portion of any leasing commission paid by Landlord in connection with this Lease which is applicable to the portion of the Term, including option periods, which is unexpired as of the date on which this Lease terminated; the costs of repairs, cleanup, refurbishing, removal, and expenses storage or disposal of Tenant’s personal property, equipment, fixtures, and anything else that Tenant is required under this Lease to remove but does not remove (including attorneys' feesthose alterations which Tenant is required to remove pursuant to an election by Landlord, court costsand which Landlord actually removes, advertising whether or not notice to remove will be delivered to Tenant). All computations of the “worth at the time of the award” of amounts recoverable by Landlord under Sections 20.2(a)(i) and (20.2(a)(ii) hereof will be computed by allowing interest at the maximum lawful rate per annum allowed for commercial transactions as of the date on which the event of default occurred. The “worth at the time of the award” recoverable by Landlord under Section 20.2(a)(iii) and the discount rate for purposes of determining any amounts recoverable under Section 20.2(a)(iv), if applicable, will be computed by discounting the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank of California San Francisco at the time of the award plus one percent (1%).
(b) Notwithstanding Landlord’s right to terminate this Lease pursuant to Section 20.2(a), Landlord may, at its option, even though Tenant has breached this Lease and abandoned the Premises, continue this Lease in full force and effect and not terminate Tenant’s right to possession, and enforce all of Landlord’s rights and remedies under this Lease. In such event, Landlord will have the remedy described in California Civil Code Section 1951.4 (Landlord may continue this Lease in effect after Tenant’s breach and abandonment and recover Rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations). Further, in such event, Landlord will be entitled to recover from Tenant all costs of maintenance and brokers' commissions) of recovering possession preservation of the Premises, removing persons or property therefromand all costs, placing including attorneys’ fees and receivers’ fees, incurred in connection with appointment of and performance by a receiver to protect the Premises and Landlord’s interest under this Lease. No reentry or taking possession of the Premises by Landlord pursuant to this Section 20.2(b) will be construed as an election to terminate this Lease unless a written notice (signed by a duly authorized representative of Landlord) of intention to terminate this Lease is given to Tenant. Landlord may at any time after default by Tenant elect to terminate this Lease pursuant to Section 20.2(a), notwithstanding Landlord’s prior continuance of this Lease in good ordereffect for any period of time, condition and repairupon and after Tenant’s default under this Lease, preparing Landlord may, but need not, relet the Premises or any part thereof for the account of Tenant to any person, firm, partnership, corporation, or other business entity for such Rent, for such time, and altering upon such terms as Landlord, in its sole discretion, will determine. Subject to the provisions of this Lease regarding assignment and subletting in Section 13, Landlord will not be required to accept any substitute tenant offered by Tenant or to observe any instructions given by Tenant regarding such reletting. Landlord may remove (and repair any damage caused by such removal) and store (or dispose of) any of Tenant’s personal property, equipment, fixtures, and anything else Tenant is required (under this Lease at the election of Landlord or otherwise) to remove but does not remove, and Landlord may also make repairs, renovations, alterations, and/or additions to the Premises to the extent deemed by Landlord necessary or desirable in connection with any attempt to relet the Premises. Tenant will upon demand pay the cost of such repairs, alterations, additions, removal, storage and renovations, together with any legal expenses, brokers commissions or finders fees and any other expenses incurred by Landlord in connection with its entry upon the Premises and attempt to relet the Premises. If Landlord is able to relet the Premises for Tenant’s account during the remaining portion of the Term and the consideration collected by Landlord from any reletting is not sufficient to pay monthly the full amount of Base Rent and Additional Rent payable by Tenant under this Lease, together with any legal expenses, brokers commissions or finders fees, any cost for repairs, alterations, additions, removal, storage and renovations, and any other cost and expense incurred by Landlord in re-entering the Premises and reletting the Premises, then Tenant will pay to Landlord the amount of each monthly deficiency upon demand. Any rentals received by Landlord from any such reletting will be applied as follows:
(i) First, to the payment of any costs of reentry and reletting the Premises;
(ii) Second, to the payment of costs of any such repairs, alterations, additiona, removal, storage, and renovations to the Premises;
(iii) Third, to the payment of any other Rent due and unpaid under this Lease; and
(iv) The residue, if any, will be held by Landlord and applied as payment of future Rent as the same may become due and payable under this Lease.
(c) No act or omission by Landlord or its agents during the Term will be an acceptance of a surrender of the Premises, and no agreement to accept a surrender of the Premises will be valid, unless made in writing and signed by a duly authorized representative of Landlord. Neither any remedy set forth in this Lease nor pursuit of any particular remedy will preclude Landlord from any other remedy set forth in this Lease or otherwise available at law or in equity. Landlord will be entitled to a restraining order or injunction to prevent Tenant from breaching or defaulting under any of its obligations under this Lease other than the payment of Rent or other sums due hereunder.
(d) Neither the termination of this Lease nor the exercise of any remedy under this Lease or otherwise available at law or in equity will affect the right of Landlord to any right of indemnification set forth in this Lease or otherwise available at law or in equity by reason of Tenant’s occupancy of the Premises, and all rights to indemnification or other costs obligations of Tenant will survive termination of this Lease and expenses termination of relettingTenant’s right to possession under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Ryland Group Inc)
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then Landlordand so long as such Event of Default shall be continuing, in addition to Landlord may at any other rights or remedies it may have time thereafter at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall 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 formal demand or notice of any kind, to possession re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to 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. Should Landlord at any time terminate Except as otherwise provided in the next paragraph, if Tenant breaches this Lease for any breachand abandons the Premises prior to the end of the term hereof, in addition or if Tenant's right to any other remedy it may have, it possession is hereby agreed terminated by Landlord and because of an Event of Default by Tenant that the damages Landlord shall be entitled to recover under this Lease, this Lease shall include without limitation:
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, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, of the amount award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, including, but not limited tofailure 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 costs following terms are defined: (a) The "worth at the time of the award" of the amounts referred to in Sections (i) and expenses (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 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 attorneys' feesfractional parts thereof, court costs, advertising costs between the date of termination and brokers' commissionsthe time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the mathematical product of recovering possession (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, removing persons 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 property therefromassign, placing the Premises 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 good order, condition and repair, preparing and altering the Premises writing to terminate this Lease for reletting and all other costs and expenses of relettingsuch previous breach.
Appears in 1 contract
Samples: Lease Agreement (Atroad Inc)
Landlord’s Remedies. In the event of (a) If an Event of Default under Section 10.01 by Tenant occurs, then Landlord, in addition to any other rights or remedies it available to Landlord, Landlord may have at law, in equity or otherwise, shall have exercise the following rightsremedies:
(ai) Landlord shall have the right to may terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to any lawful means, in which case this Lease shall terminate and Tenant shall terminate this Lease or Tenant's right to immediately surrender possession of the PremisesPremises to Landlord. Should Landlord at Such termination shall not affect any time terminate accrued obligations of Tenant under this Lease for any breachLease. Upon termination, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall have the right to reenter the Premises and remove all persons and property. Landlord shall also be entitled to recover under this Lease shall include without limitationfrom Tenant:
(i1) The worth, worth at the time of award, award of the unpaid Basic Rent that has and additional rent which had been earned at the time of the termination of this Leasetermination;
(ii2) The worth, worth at the time of award, award of the amount by which the unpaid Basic Rent that and additional rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such loss of Rent that Tenant proves could have been reasonably avoided;
(iii3) The worth, worth at the time of award, award of the amount by which the unpaid Basic Rent and additional rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such loss of Rent that Tenant proves could be reasonably avoided; and;
(iv4) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result from Tenant's Event of Default, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) cost of recovering possession of the Premises, removing persons or property therefromrefurbishment of the Premises, placing the Premises in good ordermarketing costs, condition commissions and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting, including necessary repair, the unamortized portion of any tenant improvements and brokerage commissions funded by Landlord in connection with this Lease, reasonable attorneys' fees, and any other reasonable costs; and
(5) At Landlord's election, all other amounts in addition to or in lieu of the foregoing as may be permitted by law. The term "rent" as used in the Lease shall be deemed to mean the Basic Rent, Tenant's Share of Operating Expenses and any other sums required to be paid by Tenant to Landlord pursuant to the terms of this Lease, including, without limitation, any sums that may be owing from Tenant pursuant to Section 4.3 of this Lease. Any sum, other than Basic Rent, shall be computed on the basis of the average monthly amount accruing during the twenty-four (24) month period immediately prior to the Event of Default, except that if it becomes necessary to compute such rental before the twenty-four (24) month period has occurred, then the computation shall be on the basis of the average monthly amount during the shorter period. As used in Sections 14.2(a)(i) (1) and (2) above, the "worth at the time of award" shall be computed by allowing interest at the rate of ten percent (10%) per annum. As used in Section 14.2(a)(i)(3) above, the "worth at the time of award" shall be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(ii) Landlord may elect not to terminate Tenant's right to possession of the Premises, in which event Landlord may continue to enforce all of its rights and remedies under this Lease, including the right to collect all rent as it becomes due. Efforts by the Landlord to maintain, preserve or relet the Premises, or the appointment of a receiver to protect the Landlord's interests under this Lease, shall not constitute a termination of the Tenant's right to possession of the Premises. In the event that Landlord elects to avail itself of the remedy provided by this Section 14.2(a)(ii), Landlord shall not unreasonably withhold its consent to an assignment or subletting of the Premises subject to the reasonable standards for Landlord's consent as are contained in this Lease.
(b) Landlord shall be under no obligation to observe or perform any covenant of this Lease on its part to be observed or performed which accrues after the date of any Event of Default by Tenant unless and until the Event of Default is cured by Tenant, it being understood and agreed that the performance by Landlord of its obligations under this Lease are expressly conditioned upon Tenant's full and timely performance of its obligations under this Lease. The various rights and remedies reserved to Landlord in this Lease or otherwise shall be cumulative and, except as otherwise provided by California law, Landlord may pursue any or all of its rights and remedies at the same time.
(c) No delay or omission of Landlord to exercise any right or remedy shall be construed as a waiver of the right or remedy or of any breach or Event of Default by Tenant. The acceptance by Landlord of rent shall not be a (i) waiver of any preceding breach or Event of Default by Tenant of any provision of this Lease, other than the failure of Tenant to pay the particular rent accepted, regardless of Landlord's knowledge of the preceding breach or Event of Default at the time of acceptance of rent, or (ii) a waiver of Landlord's right to exercise any remedy available to Landlord by virtue of the breach or Event of Default. The acceptance of any payment from a debtor in possession, a trustee, a receiver or any other person acting on behalf of Tenant or Tenant's estate shall not waive or cure a breach or Event of Default under Section 14.1. No payment by Tenant or receipt by Landlord of a lesser amount than the rent required by this Lease shall be deemed to be other than a partial payment on account of the earliest due stipulated rent, nor shall any endorsement or statement on any check or letter be deemed an accord and satisfaction and Landlord shall accept the check or payment without prejudice to Landlord's right to recover the balance of the rent or pursue any other remedy available to it. No act or thing done by Landlord or Landlord's agents during the Term shall be deemed an acceptance of a surrender of the Premises, and no agreement to accept a surrender shall be valid unless in writing and signed by Landlord. No employee of Landlord or of Landlord's agents shall have any power to accept the keys to the Premises prior to the termination of this Lease, and the delivery of the keys to any employee shall not operate as a termination of this Lease or a surrender of the Premises.
(d) Any agreement for free or abated rent or other charges, or for the giving or paying by Landlord to or for Tenant of any cash or other bonus, inducement or consideration for Tenant's entering into this Lease ("Inducement Provisions") shall be deemed conditioned upon Tenant's full and faithful performance of the terms, covenants and conditions of this Lease. Upon an Event of Default under this Lease by Tenant, any such Inducement Provisions shall automatically be deemed deleted from this Lease and of no further force or effect and the amount of any rent reduction or abatement or other bonus or consideration already given by Landlord or received by Tenant as an Inducement shall be immediately due and payable by Tenant to Landlord, notwithstanding any subsequent cure of said Event of Default by Tenant. The acceptance by Landlord of rent or the cure of the Event of Default which initiated the operation of this Section 14.1 shall not be deemed a waiver by Landlord of the provisions of this Section 14.2(d).
Appears in 1 contract
Samples: Lease (Intest Corp)
Landlord’s Remedies. In the event of an Event of Default under Section 10.01 then LandlordIf Tenant is in default beyond applicable ------------------- notice and cure periods as provided in subparagraph 17.1 above, in addition to any other rights or remedies it may have at law, in equity or otherwise, Landlord shall have the following rightsoptions, without further notice to Tenant or further demand for performance:
(a) Landlord shall have the right to terminate this Lease and 17.2.1 Terminate Tenant's right to possession of the Premises Property by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to any lawful means, in which case this Lease shall terminate and Tenant shall terminate this Lease or Tenant's right to immediately surrender possession of the PremisesProperty to Landlord. Should Landlord at any time terminate this Lease for any breachIn such event, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
from Tenant all damages incurred by Landlord by reason of Tenant's default, including (i) The worth, the worth at the time of award, the award of the unpaid Rent that has been which Landlord had earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, the award of the amount by which the unpaid Rent that which Landlord would have been earned after the date of termination of this Lease until the time of the award exceeds the amount of the such rental loss of Rent that Tenant proves Landlord could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, the award of the amount by which the unpaid Rent which Tenant would have paid for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves Landlord could be have reasonably avoided; and
and (iv) Any any other amount reasonably necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under the Lease or which in the ordinary course of things would be likely to result therefrom. As used in subparts (i) and (ii) above, the "worth at the time of the award" is computed by allowing interest on unpaid amounts at the rate of ten percent (10%) per annum, or such lesser amount as may they be the maximum lawful rate. As used in subpart (iii) above, the "worth at the time of the award" is computed by discounting such amount at the rate of ten percent (10%) per annum;
17.2.2 Even though an event of default may have occurred, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession; and Landlord may enforce all of Landlord's rights and remedies under this Lease, including 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 the right to sublet or assign, subject only to reasonable limitations) to recover Rent as it becomes due. Landlord, without terminating this Lease, may, during the period Tenant is in default, enter the Premises and relet the same, or any portion thereof, to third parties for Tenant's account and Tenant shall be liable to Landlord for all costs Landlord incurs in reletting the Premises, including, but not limited towithout limitation, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) , expenses of recovering possession remodeling the Premises and like costs. Reletting may be for a period shorter or longer than the remaining Term. Tenant shall continue to pay the Rent on the date the same is due. No act by Landlord hereunder, including acts of maintenance, preservation or efforts to lease the Premises or the appointment of a receiver upon application of Landlord to protect Landlord's interest under this Lease, shall terminate this Lease unless Landlord notifies Tenant in writing that Landlord elects to terminate this Lease. In the event that Landlord elects to relet the Premises, removing persons or property therefromthe rent that Landlord receives from reletting shall be applied to the payment of, placing first, any indebtedness from Tenant to Landlord other than Base Rent and Additional Rent; second, all costs, including maintenance, incurred by Landlord in reletting; and, third, Base Rent and Additional Rent under this Lease. After deducting the payments referred to above, any sum remaining from the rental Landlord receives from reletting shall be held by Landlord and applied in payment of future Rent as Rent becomes due under this Lease. In no event, and notwithstanding anything in the Assignment and Subletting sections of this Lease to the contrary, shall Tenant be entitled to any excess rent received by Landlord. If, on the date Rent is due under this Lease, the rent received from the reletting is less than the Rent due on that date, Tenant shall pay to Landlord, in addition to the remaining Rent due, all costs, including maintenance, which Landlord incurred in reletting the Premises in good order, condition and repair, preparing and altering that remain after applying the Premises for rent received from reletting and all other costs and expenses of relettingas provided hereinabove.
Appears in 1 contract
Landlord’s Remedies. In Upon the event occurrence of an any Event of Default under Section 10.01 then Landlordby Tenant, Landlord may, at any time thereafter, with or without notice or demand and without limiting Landlord in addition to the exercise of any other rights right or remedies it remedy which Landlord may have at law, in equity or otherwise, shall have the following rightshave:
(a) Landlord shall have the right to terminate this Lease and TenantTerminate Xxxxxx's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to any lawful means, in which case this Lease shall terminate and Tenant shall terminate this Lease or Tenant's right to immediately surrender possession of the PremisesPremises to Landlord. Should Landlord at any time terminate this Lease for any breachIn such event, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include from Tenant all damages incurred by Landlord by reason of Tenant's default, including without limitation:
limitation (i) The worth, the worth at the time of award, the award of the unpaid Base Rent, Additional Rent that has and other charges which had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, the award of the amount by which the unpaid Base Rent, Additional Rent that and other charges which would have been earned after the date of termination of this Lease until the time of the award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, the award of the amount by which the unpaid Base Rent, Additional Rent and other charges which would have been paid for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by TenantXxxxxx's breachfailure to perform its obligations under the Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in maintaining or preserving the costs and expenses (including attorneys' feesPremises after such default, court costs, advertising costs and brokers' commissions) the cost of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting, including necessary renovation or alteration of the Premises, Xxxxxxxx's reasonable attorneys' fees incurred in connection therewith, and any real estate commission paid or payable. Landlord shall, at all times, engage in good faith efforts to mitigate Landlord’s damages. As used in subparts (i) and (ii) above, the "worth at the time of the award" is computed by allowing interest on unpaid amounts at the rate of twelve percent (12%) per annum, or such lesser amount as may then be the maximum lawful rate, accruing the date such payments are due until paid. As used in subpart (iii) above, the "worth at the time of the award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%);
(b) Maintain Tenant's right to possession, in which case this Lease shall continue in effect whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord's rights and remedies under this Lease, including the right to recover Xxxx as it becomes due hereunder. Xxxxxxxx's election to maintain Xxxxxx's right to possession shall not prejudice Landlord's right, at any time thereafter to terminate Tenant's right to possession and proceed in accordance with Section 20(a) above; or
(c) Pursue any other remedy now or hereafter available to Landlord under Laws or judicial decisions of the State of Nevada. Xxxxxxxx's exercise of any right or remedy shall not prevent it from exercising any other right or remedy.
Appears in 1 contract
Landlord’s Remedies. In Upon Tenant’s default, after the event of an Event of Default under Section 10.01 then Landlordapplicable cure period, in addition to any other rights or remedies it may have at law, in equity or otherwise, Landlord shall have the following rightsremedies:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving to Tenant written notice of termination such termination.
(b) If Landlord elects to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease as provided in subparagraph (a) hereof, Landlord may then or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for thereafter, reenter the Leased Premises, or any breachpart thereof, in addition and expel or remove therefrom Tenant and any other persons occupying the same, using such force as may be necessary so to do, and again possess and enjoy the Leased Premises, without prejudice to any other remedy it remedies that Landlord may havehave by reason of Tenant’s default or of such termination.
(c) If Landlord elects to terminate this Lease, it is hereby agreed by Landlord and Tenant that the damages as provided in subparagraph (a) hereof, Landlord shall be entitled to have all of the rights and remedies of a landlord provided by law and by this Lease. The amount of damages which Landlord may recover under this Lease in the event of such termination shall include without limitation:
include: (i) The worth, the worth at the time of award, award (computed by allowing interest at the rate of the lesser of one and one-half percent (1-1/2%) per month or the maximum rate permitted by law) of the unpaid Rent that has been rent and charges equivalent to rent earned as of the date of termination hereof; (ii) the worth at the time of the termination of this Lease;
award (ii) The worth, computed by allowing interest at the time rate of award, the lesser of one and one-half percent (1-1/2%) per month or the maximum rate allowable by law) of the amount by which the unpaid Rent that rent and charges equivalent to rent which would have been earned after the date of termination of this Lease hereof until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, award (computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus one percent (1%)) of the amount by which the unpaid Rent rent and charges equivalent to rent for the balance of the stated term Term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (v) any other amount which Landlord may by law hereafter be permitted to recover from Tenant to compensate Landlord for the detriment caused by Tenant’s default. Landlord agrees to take all reasonable measures to mitigate its damages caused by termination.
(d) After terminating this Lease pursuant to subparagraph (a) hereof, includingLandlord may, but without any further demand or notice, remove any and all personal property located on the Leased Premises and place such property in a public or private warehouse or elsewhere at the risk and sole cost and expense of Tenant. In the event that Tenant shall not limited toimmediately pay the cost of storage of such property after the same has been stored for a period of thirty (30) days or more, Landlord may sell any or all thereof at a public or private sale in such a manner and at such times and places as Landlord acting reasonably may deem proper, without notice to or demand upon Tenant.
(e) Landlord shall have the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering right to cause a receiver to be appointed in any action against Tenant to take possession of the Leased Premises and/or to collect the rents or profits derived therefrom. Said receiver may, if it is necessary or convenient in order to collect such rents or profits, conduct the business and may use the same in conducting such business on the Leased Premises. Neither the application for the appointment of such receiver nor the appointment of such receiver shall constitute an election on the part of the Landlord to terminate this Lease unless a written notice of such intention is given to Tenant.
(f) Landlord may at Landlord’s election reenter the Leased Premises, removing persons and without terminating this Lease, at any time and from time to time relet the Leased Premises or any part or parts of them for the account and in the name of Tenant or otherwise. Any reletting may be for the remainder of the Term or for a longer or shorter period. Landlord may execute any leases made under this provision either in Landlord’s name or in Tenant’s name and shall be entitled to all rents from the use, operation, or occupancy of the Leased Premises. Tenant shall nevertheless pay to Landlord on the due dates specified in this Lease the equivalent of all sums required of Tenant under this Lease, plus Landlord’s expenses, less the avails of any reletting or attachment. No act by or on behalf of Landlord under this provision shall constitute a termination of this Lease unless Landlord gives Tenant notice of termination.
(g) If Landlord elects to reenter the Leased Premises without termination, as provided in subparagraph (f) hereof, Landlord may at Landlord’s election use Tenant’s personal property and trade fixtures or any of such property and fixtures without liability for use or damage, or store them for the account and at the cost of Tenant. The election of one remedy for any one item shall not foreclose an election of any other remedy for another item or for the same item at a later time.
(h) In addition to the remedies for breach of this Lease described herein, Tenant agrees that Landlord shall be entitled to receive from Tenant any and all costs in connection with Tenant’s default hereunder, including without limitation, administrative costs of Landlord associated with Tenant’s default, costs of repairing and/or remodeling the Leased Premises for new tenants and leasing commissions for any leasing agent engaged to relet the Leased Premises.
(I) Notwithstanding anything to the contrary set forth herein, Landlord’s reentry to perform acts of maintenance of preservation of or in connection with efforts to relet the Leased Premises or any portion thereof, or the appointment of a receiver upon Landlord’s initiative to protect Tenant’s interest under this Lease shall not terminate Tenant’s right to possession of the Leased Premises or any portion thereof, and until Landlord does elect to terminate this Lease by written notice to Tenant, this Lease shall continue in full force and effect. Landlord may enforce all of Landlord’s rights and remedies hereunder including, without limitation, the right to recover from Tenant as ii becomes due hereunder all rent, additional rent and other charges required to be paid by Tenant under the terms hereof. Any reletting by Landlord of the Leased Premises, or any part or parts of them, shall be for the account and in the name of Tenant or otherwise. Any reletting may be for the remainder of the Term or for a longer or shorter period. Landlord may execute any lease made under this provision either in Landlord’s name or in Tenant’s name and shall be entitled to all rents from the use, operation or occupancy of the Leased Premises to be applied toward any amounts due to Landlord from Tenant hereunder.
(j) Nothing in this Section shall be deemed to affect Landlord’s right to defense and indemnification for liability or liabilities arising prior to the termination of this Lease for personal injuries or property therefromdamage under the indemnification clause or clauses contained in this Lease.
(k) In addition to the other remedies provided in this Lease, placing Landlord shall be entitled to injunctive relief in case of the Premises in good orderviolation, or attempted or threatened violation, of any covenant, agreement, condition or provision of this Lease and repairto a decree compelling performance of any covenant, preparing agreement, condition or provision of this Lease and altering the Premises for reletting and all to any other costs and expenses of relettingremedy allowed to Landlord at law or in equity.
Appears in 1 contract
Samples: Lease Agreement (1847 Holdings LLC)
Landlord’s Remedies. In the event of an If any Event of Default occurs ------------------- under this Lease as provided in Section 10.01 then 18.1, Landlord, at Landlord's option, and without limiting Landlord in addition to the exercise of any other rights right or remedies it remedy Landlord may have at on account of such Event of Default, and without any further demand or notice, may terminate this Lease and/or, to the extent permitted by law, in equity remove all persons and property from the Premises, which property shall be stored by Landlord at a warehouse or otherwiseelsewhere at the risk, shall have expense and for the following rights:account of Tenant.
(a) If Landlord shall have the right elects to terminate this Lease and Tenant's right as provided in Section 19.1, pursuant to possession Section 1951.2 of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachCalifornia Civil Code, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfrom Tenant the aggregate of:
(i) The worth, worth at the time of award, award of the unpaid Rent that has been and charges equivalent to Rent earned at as of the time date of the termination of this Leasehereof;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that and charges equivalent to Rent which would have been earned after the date of termination of this Lease hereof until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent and charges equivalent to Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and;
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which, includingin the ordinary course of things, would be likely to result therefrom; and
(v) Any other amount which Landlord may hereafter be permitted to recover from Tenant to compensate Landlord for the detriment caused by Tenant's default. For the purposes of this Section 19.1(a), the "time of award" shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of such Event of Default is entered or such earlier date as the court may determine; the "worth at the time of 44 award" of the amounts referred to in Sections 19.1(a)(i) and 19.1(a)(ii) shall be computed by allowing interest at the Interest Rate, but not limited toless than the legal rate; and the "worth at the time of award" of the amount referred to in Section 19.1(a)(iii) shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%) per annum. Tenant agrees that such charges shall be recoverable by Landlord under California Code of Civil Procedure Section 1174(b) or any similar, successor or related provision of law. Further, Tenant hereby waives the provisions of California Code of Civil Procedure Section 1174(c) and California Civil Code Section 1951.7 or any other similar, successor or related provision of law providing for Tenant's right to satisfy any judgment in order to prevent a forfeiture of this Lease or requiring Landlord to deliver written notice to Tenant of any reletting of the Premises.
(a) Notwithstanding anything to the contrary set forth herein, Landlord's reentry to perform acts of maintenance or preservation of, or in connection with efforts to relet, the costs and expenses (including attorneys' feesPremises, court costsor any portion thereof, advertising costs and brokers' commissions) or the appointment of recovering a receiver upon Landlord's initiative to protect Landlord's interest under this Lease shall not terminate Tenant's right to possession of the PremisesPremises or any portion thereof and, removing persons until Landlord does elect to terminate this Lease, this Lease shall continue in full force and Landlord may pursue all its remedies hereunder including, without limitation, the right to recover from Tenant as they become due hereunder all Rent and other charges required to be paid by Tenant under the terms of this Lease.
(b) Nothing in this Article 19 shall be deemed to affect Landlord's right to indemnification, under the indemnification clause or property therefromclauses contained in this Lease, placing for claims or liability arising from events occurring prior to the termination of this Lease.
(c) In the event of any Event of Default by Tenant as set forth above, then in addition to any other remedies available to Landlord at law or in equity or under this Lease, Landlord shall have the right to bring an action or actions from time to time against Tenant, in any court of competent jurisdiction, for all Rent and other sums due or becoming due under this Lease, including all damages and costs proximately caused thereby, notwithstanding Tenant's abandonment or vacation of the Premises or other acts of Tenant, as permitted by Section 1951.4 of the California Civil Code or any successor, related or similar provision of law. Such remedy may be exercised by Landlord without prejudice to its right thereafter to terminate this Lease in good order, condition and repair, preparing and altering accordance with the Premises for reletting and all other costs and expenses of relettingprovisions contained in this Article 19.
Appears in 1 contract
Samples: Lease (Portal Software Inc)
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then Landlordand so long as such Event of Default shall be continuing, in addition to Landlord may at any other rights or remedies it may have time thereafter at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall 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 formal demand or notice of any kind, to possession re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to 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. Should Landlord at any time terminate Except as otherwise provided in the next paragraph, if Tenant breaches this Lease for any breachand abandons the Premises prior to the end of the term hereof, in addition or if Tenant's right to any other remedy it may have, it possession is hereby agreed terminated by Landlord and because of an Event of Default by Tenant that the damages Landlord shall be entitled to recover under this Lease, this Lease shall include without limitation:
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, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, of the amount award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, including, but not limited tofailure 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 costs following terms are defined: (a) the "worth at the time of award" of the amounts referred to in Sections (i) and expenses (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 attorneys' feesfractional parts thereof, court costs, advertising costs between the date of termination and brokers' commissionsthe time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the mathematical product of recovering possession (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, removing persons 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 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 property therefromassign, placing the Premises in good order, condition subject only to reasonable limitations." Any such payments due Landlord shall be made upon demand therefor from time to time and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting.Tenant agrees that Landlord may file suit to recover any sums failing
Appears in 1 contract
Samples: Sublease (Jni Corp)
Landlord’s Remedies. In the event of an Event of Default under Section 10.01 0 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, at the time of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) 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 this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting.
Appears in 1 contract
Samples: Lease (Hollywood Park Operating Co)
Landlord’s Remedies. (a) In the event of an Event of Default under Section 10.01 then Landlordby Tenant, as defined herein, then, in addition to any other rights remedies available to Landlord at law or remedies it may have at lawin equity, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right immediate option, but shall not be obligated to do so, to terminate this Lease and Tenant's right to possession all rights of the Premises Tenant hereunder by giving Tenant written notice of termination such election to Tenantterminate. No act by In the event that Landlord other than giving express written notice shall elect to Tenant shall so terminate this Lease or Lease, then Landlord may recover from Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, worth at the time of award, award of the any unpaid Rent that has which had been earned at the time of the termination of this Lease;such termination; plus
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount that portion of the rental loss of Rent that which Tenant proves could have been reasonably avoided;; plus
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that which Tenant proves reasonably could be reasonably avoided; andplus
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, ’s failure to perform its obligation under this Lease or which in the ordinary course of things would be likely to result therefrom including, but not limited to, brokerage commissions and the costs and expenses cost of restoring said Premises to the condition required under this Lease; plus
(including attorneys' feesv) At Landlord’s election, court costs, advertising costs and brokers' commissions) of recovering possession such other amounts in addition to or in lieu of the Premisesforegoing as may be permitted from time to time by applicable Law.
(vi) As used in (i) and (ii) above, removing persons or property therefromthe “worth at the time of award” shall be computed by allowing interest at the Interest Rate. As used in (iii) above, placing “worth at the Premises in good ordertime of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank at San Francisco at the time of award, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingplus one (1) percentage point.
Appears in 1 contract
Samples: Standard Office Lease (Apellis Pharmaceuticals, Inc.)
Landlord’s Remedies. In the event of an Event any such default or breach by Tenant, Landlord may, at any time thereafter, with or without further notice or demand and without limiting Landlord in the exercise of Default any right or remedy which Landlord may have by reason of such default or breach:
(a) Sell at public or private sale all or any part of the goods, chattels, fixtures and other personal property belonging to Tenant which are or may be put into the Leased Premises during the Term, whether exempt or not from sale under Section 10.01 then execution or attachment (it being agreed that said property shall be at all times bound with a lien in favor of Landlord and shall be chargeable for all Rent and for the fulfillment of the other covenants and agreements herein contained) and apply the proceeds of such a sale, first, to the payment of all costs and expenses of conducting the sale or caring for or storing said property; second, toward the payment of any indebtedness, including (without limitation) indebtedness for Rent which may be or may become due from Tenant to Landlord; and third, to pay to Tenant, on demand in writing, any surplus remaining after all indebtedness of Tenant to Landlord has been fully paid. In addition to any statutory lien for Rent held by Landlord, Landlord shall have, and Tenant hereby grants to Landlord, a continuing security interest for all Rent and other sums of money becoming due hereunder from Tenant, upon all of the property now or hereafter owned by Tenant and now or hereafter located on the Leased Premises. In connection herewith, Landlord shall have, in addition to any other rights remedies, any and all of the remedies afforded to secured parties under the provisions of the Uniform Commercial Code, as codified in the State (including, by way of example, rather than of limitation), the right to sell such property at public or remedies it may have at lawprivate sale upon ten (10) days' notice to Tenant without resort to judicial process. Tenant shall, on its receipt of a written request therefor from Landlord, execute such financing statements and other instruments as are necessary or desirable, in equity or otherwiseLandlord's judgment, shall have the following rights:to perfect such security interest.
(ab) Perform, on behalf and at the expense of Tenant, any obligation of Tenant under this Lease which Tenant has failed to perform and of which Landlord shall have given at least three (3) days' notice (except in the right to terminate this Lease and Tenant's right to possession case of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachemergency, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord which event no such notice shall be entitled to recover under this Lease shall include without limitation:
(i) The worthrequired), the cost of which performance by Landlord, together with interest therein at the time of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) The worth, at the time of award, of the amount by which the unpaid Rent that would have been earned after Default Interest Rate from the date of termination of this Lease until the time of award exceeds the amount of the loss of Rent that such expenditure, shall be deemed additional rent and shall be payable by Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingupon demand.
Appears in 1 contract
Samples: Lease Agreement (Play Co Toys & Entertainment Corp)
Landlord’s Remedies. In 25.1 Upon the event occurrence of an Event of Default under Section 10.01 then Default, Landlord, at its option, without further notice or demand to Tenant, shall have in addition to all other rights and remedies provided in this Lease, at law or in equity, the option to pursue any one or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever.
25.1.1 Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other rights or remedies remedy which it may have at lawfor possession or arrearages in Rent, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease enter upon and Tenant's right to take possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to and expel or remove Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to and any other remedy it person who may havebe occupying the Premises or any part thereof, it is hereby agreed by without being liable for prosecution or any claim or damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfollowing:
(i) 25.1.1.1 The worth, worth at the time of award, award of the any unpaid Rent that rent which has been earned at the time of the termination of this Lease;such termination; plus
(ii) 25.1.1.2 The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) 25.1.1.3 The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; andplus
(iv) 25.1.1.4 Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, specifically including but not limited to, brokerage commissions and advertising expenses incurred, expenses of remodeling the costs Premises or any portion thereof for a new tenant, whether for the same or a different use, and expenses (including attorneys' feesany special concessions made to obtain a new tenant; and
25.1.1.5 At Landlord's election, court costs, advertising costs and brokers' commissions) of recovering possession such other amounts in addition to or in lieu of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingforegoing as may be permitted from time to time by applicable law.
Appears in 1 contract
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then 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, in addition without formal demand or notice of any kind, to re-enter the Premises by summary dispossession proceedings or any other rights action or remedies it may have at lawproceeding authorized by law and to remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate 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 ’s right to possession of the Premises by giving written notice of termination to Tenant. No act is terminated by Landlord other than giving express written notice to because of an Event of Default by Tenant shall terminate under this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachLease, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
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, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably reasonable avoided;
; (iii) The worth, the worth at the time of award, of the amount award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's ’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, includingand 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, but 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 also 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, are not limited to, restricted to their technical legal meanings. Any reletting of the costs Premises shall be on such terms and expenses conditions as Landlord in its sole discretion may determine (including attorneys' feeswithout limitation a term different than the remaining Lease Term, court costsrental concessions, advertising costs alterations and brokers' commissions) of recovering possession repair of the Premises, removing persons lease of less than the entire Premises to any tenant and leasing any or property therefromall other portions of the Project before reletting the Premises). Landlord shall not be liable, placing nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or collect rent due in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses respect of such reletting.
Appears in 1 contract
Landlord’s Remedies. In To the event extent permitted by applicable law, Landlord shall have any one or more of an Event the following remedies after the occurrence of Default under Section 10.01 then Landlorda default by Tenant. These remedies are not exclusive; they are, to the extent permitted by applicable law, cumulative in addition to any other rights remedies now or remedies it may have at later allowed by law, in equity equity, or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate 17.2.1 Terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant, in which event Tenant immediately shall surrender the Premises to Landlord. No act by Landlord other than giving express written notice If Tenant fails to Tenant shall terminate this Lease or Tenant's right to possession of so surrender the Premises. Should Landlord at any time terminate this Lease for any breach, in addition then Landlord, without prejudice to any other remedy it has for possession of the Premises or arrearages in rent or other damages, may havere-enter and take possession of the Premises and remove Tenant and any other person or entity occupying the Premises or any part thereof, it is hereby agreed without being liable for any damages, whether caused by negligence of Landlord and Tenant that the damages or otherwise.
17.2.2 Landlord shall be entitled give Tenant written notice of termination to recover Tenant terminating this Lease. Acts of maintenance, efforts to relet the Premises, or the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under this Lease shall include without limitationnot constitute a termination of this Lease. On termination of this Lease, Landlord shall have the right to recover from Tenant:
(i) The worth, worth at the time of award, the award of the unpaid Rent rent that has had been earned at the time of the termination of this Lease;; and
(ii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent rent that would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the loss of Rent rent that Tenant Landlord proves reasonably could have been reasonably avoided;; and
(iii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent rent that Tenant Landlord proves reasonably could be reasonably have been avoided; and
(iv) Any other amount amounts, including court costs, necessary to compensate Landlord for all detriment proximately caused by Tenant's breach’s default. The phrase “worth at the time of the award” as used in clauses (i) and (ii) above is to be computed by allowing interest at the rate often percent (10%) per annum, but not to exceed the then legal rate of interest. The same phrase as used in clause (iii) above is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%). The term “rent” as used in this Section 17.2.2 means the Monthly Rent and all other sums payable by Tenant hereunder, including, without limitation, Taxes and insurance. To the extent any rent payable hereunder is subject to adjustments pursuant to CPI or other relevant index, the calculation of the award payable to Landlord pursuant to this Section 17.2.2 shall incorporate increases in rental amounts based upon CPI increases up to the date of termination of this Lease.
17.2.3 Landlord may re-enter and take possession of the Premises without terminating this Lease and without being liable for any damages, whether caused by the negligence of Landlord or otherwise. Landlord shall use commercially reasonable efforts to relet the Premises. In connection therewith, Landlord shall be entitled to take into account all relevant factors which would be taken into account by a sophisticated developer in securing a replacement tenant for the Premises, such as, but not limited to, the type of businesses then being operated at the Premises, the financial responsibility of any replacement tenant, and the highest and best use for the Premises. Landlord may relet the Premises on whatever terms and conditions Landlord, in its sole discretion, deems advisable. Landlord’s reletting of the Premises can be for a period shorter or longer than the remaining Term of this Lease. Landlord’s action under this Subsection is not considered an acceptance of Tenant’s surrender of the Premises unless Landlord so notifies Tenant in writing. Tenant shall be immediately liable to Landlord for all costs Landlord incurs in reletting the Premises, including brokers’ commissions, expenses of refurbishing the Premises required by the reletting, advertisements and reasonable repairs. At Landlord’s election, Tenant shall pay to Landlord the rent due under this Lease on the dates the rent is due, Jess the rent Landlord receives from any reletting. If Landlord elects to relet the Premises without terminating this Lease, any rent received will be applied to the account of Tenant, not to exceed Tenant’s total indebtedness to Landlord; no reletting by Landlord is considered to be for Landlord’s own account unless Landlord has notified Tenant in writing that this Lease has been terminated. If Landlord elects to relet the Premises, rent that Landlord receives from reletting will be applied to the payment of: (i) first, any indebtedness from Tenant to Landlord other than rent due from Tenant; (ii) second, all costs, including maintenance, alterations, brokerage commissions and legal expenses incurred by Landlord in reletting; and (iii) third, rent due and unpaid under the Lease. After deducting the payments referred to in this Subsection, any sum remaining from the rent Landlord receives from reletting will be held by Landlord and applied in payment of future rent as rent becomes due under this Lease. If, on the date rent is due under this Lease, the rent received from the reletting is less than the rent due on such date, Tenant will pay to Landlord, in addition to the remaining rent due, all costs, including maintenance. Landlord incurred in reletting which remain after applying the rent received from the reletting. Tenant shall have no right to or interest in the rent or other consideration received by Landlord from reletting to the extent it exceeds Tenant’s total indebtedness to Landlord.
17.2.4 Re-enter the Premises without terminating this Lease and without being liable for any damages, whether caused by the negligence of Landlord or otherwise, and do whatever Tenant is obligated to do under the terms of this Lease. The expenses incurred by Landlord in affecting compliance with Tenant’s obligations under this Lease shall immediately become due and payable to Landlord as additional rent.
17.2.5 In all events, Tenant is liable for all damages of whatever kind or nature, direct or indirect, suffered by Landlord as a result of the occurrence of an Event of Default. If Tenant fails to pay Landlord in a prompt manner for the damages suffered, Landlord may pursue a monetary recovery from Tenant. Included among these damages are all expenses incurred by Landlord in repossessing the Premises (including, but not limited to, increased insurance premiums resulting from Tenant’s vacancy), all expenses incurred by Landlord in reletting the Premises (including, but not limited to, those incurred for advertisements, brokerage fees, repairs, refurbishing and replacements), all concessions granted to a new tenant on a reletting, all losses incurred by Landlord as a result of Tenant’s default (including, but not limited to, any unamortized commissions paid in connection with this Lease); a reasonable allowance for Landlord’s administrative costs attributable to Tenant’s default, and all attorneys’ fees incurred by Landlord in enforcing any of Landlord’s rights or remedies against Tenant.
17.2.6 Pursuit of any of the foregoing remedies does not constitute an irrevocable election of remedies nor preclude pursuit of any other remedy provided elsewhere in this Lease or by applicable law, and none is exclusive of another unless so provided in this Lease or by applicable law. Likewise, forbearance by Landlord to enforce one or more of the remedies available to it on an Event of Default does not constitute a waiver of that default or of the right to exercise that remedy later or of any rent, damages, or other amounts due to Landlord hereunder.
17.2.7 Whether or not Landlord elects to terminate this Lease or Tenant’s right to possession of the Premises on account of any default by Tenant, Landlord shall have all rights and remedies at law or in equity, including, but not limited to, the costs right to re-enter the Premises and, to the maximum extent provided by law, Landlord shall have the right to terminate any and expenses (including attorneys' feesall subleases, court costslicenses, advertising costs concessions, or other consensual arrangements for possession entered into by Tenant and brokers' commissions) affecting the Premises or, in Landlord’s sole discretion, may succeed to Tenant’s interest in such subleases, licenses, concessions, or arrangements. In the event of recovering possession Landlord’s election to succeed to Tenant’s interest in any such subleases, licenses, concessions, or arrangements, Tenant shall have no further right to or interest in the rent or other consideration receivable thereunder as of the Premisesdate of notice by Landlord of such election.
17.2.8 Landlord shall be entitled to injunctive relief in case of the violation, removing persons or property therefromattempted or threatened violation, placing of any of the provisions hereof, or to a decree compelling performance of any of the provisions hereof, or to any other remedy allowed to Landlord by law or equity. Tenant hereby waives and surrenders for itself and all those claiming under it, including creditors of all kinds, (i) any right and privilege which it or any of them may have to redeem any portion of the Premises in good orderor to have a continuance of this Lease after termination of Tenant’s right of occupancy by order or judgment of any court or by any legal process or writ, condition or under the terms of this Lease, or after the termination of the term of this Lease as herein provided, and repair, preparing and altering (ii) the Premises benefits of any law which exempts property from liability for reletting and all other costs and expenses of relettingdebt or for distress for rent.
Appears in 1 contract
Samples: Commercial Ground Lease (Palace Entertainment Holdings, Inc.)
Landlord’s Remedies. In Landlord shall have the event of an Event of Default under Section 10.01 then Landlord, remedies described in this Paragraph 23 if Tenant is in default. These remedies are not exclusive; they are cumulative and in addition to any other rights remedies now or remedies it later allowed by law. Landlord may have at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's Xxxxxx’s right to possession of the Premises by giving written notice of termination to Tenantat any time. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right Lease. Acts of maintenance, efforts to possession of _____ the Premises. Should Landlord at any time terminate this Lease for any breach, in addition or the appointment of a receiver or Landlord’s initiative to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover protect Landlord’s interest under this Lease shall include without limitation:
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: (i1) The worth, worth at the time of award, award of the any unpaid Rent that has rent which had been earned at the time of the termination of this Lease;
Tenant’s right to possession; (ii2) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease Tenant’s right to possession until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have reasonably been reasonably avoided;
; (iii3) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant Xxxxxx proves could be reasonably avoided; and
(iv4) Any other amount amount, including court, attorney and collection costs, necessary to compensate Landlord for all detriment proximately caused by Tenant's breach’s default. “The worth”, includingas used for Items (1) and (2) in this Paragraph 23 is to be computed by allowing interest at the lesser of 12% of the maximum rate an individual is permitted to charge by law. “The worth” as used for item (3) in this Paragraph 23 is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of termination plus one percent (1%). In the event of any default by Tenant, but not limited toLandlord shall also have the right, with or without terminating this Lease, to re-enter the costs Premises and expenses (including attorneys' fees, court costs, advertising costs remove all persons and brokers' commissions) property from the Premises; such property may be removed and stored in a public warehouse or elsewhere at the cost of recovering and for the account of Tenant or disposed of in a reasonable manner by Landlord. No re-entry or taking possession of the Premises, removing persons Premises by Landlord pursuant to this Paragraph 23 shall be construed as an election to terminate this Lease unless a written notice of such intention is given to Tenant or property therefrom, placing unless the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses termination thereof is decreed by a court of relettingcompetent jurisdiction.
Appears in 1 contract
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then 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, in addition without formal demand or notice of any kind, to re-enter the Premises by summary dispossession proceedings or any other rights action or remedies it may have at lawproceeding authorized by law and to remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate 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 ’s right to possession of the Premises by giving written notice of termination to Tenant. No act is terminated by Landlord other than giving express written notice to because of an Event of Default by Tenant shall terminate under this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachLease, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
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, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, of the amount award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's ’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, includingand 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, but 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 also 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, are not limited to, restricted to their technical legal meanings. Any reletting of the costs Premises shall be on such terms and expenses conditions as Landlord in its sole discretion may determine (including attorneys' feeswithout limitation a term different than the remaining Lease Term, court costsrental concessions, advertising costs alterations and brokers' commissions) of recovering possession repair of the Premises, removing persons lease of less than the entire Premises to any tenant and leasing any or property therefromall other portions of the Project before reletting the Premises). Landlord shall not be liable, placing nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or collect rent due in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses respect of such reletting.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Skechers Usa Inc)
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: terminate this Lease; 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, in addition without formal demand or notice of any kind, to re-enter the Promises by summary dispossession proceedings or any other rights action or remedies it may have at lawproceeding authorized by law and to remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate 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 of the Premises by giving written notice of termination to Tenant. No act is terminated by Landlord other than giving express written notice to because of an Event of Default by Tenant shall terminate under this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachLease, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
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, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, of the amount award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the to time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, including, but not limited tofailure 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 costs following terms are defined: (a) the "worth at the time of award" of the amounts referred to in Sections (i) and expenses (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 attorneys' feesfractional parts thereof, court costs, advertising costs between the date of termination and brokers' commissionsthe time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the mathematical product of recovering possession (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, removing persons 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 property therefromassign, placing the Premises 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 good order, condition and repair, preparing and altering the Premises writing to terminate this Lease for reletting and all other costs and expenses of relettingsuch previous breach.
Appears in 1 contract
Landlord’s Remedies. In Upon the occurrence of any event of an Event of Default under Section 10.01 then LandlordDefault, Landlord shall 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 precluding the Landlord from exercising any other rights remedy provided in this Lease or remedies it may have at law, otherwise allowed by law or in equity or otherwise, shall have the following rightsequity:
(a) Landlord shall have the right to may terminate this Lease and Tenant's right to possession of the Premises. If Tenant has abandoned and vacated the Premises, the mere entry onto the Premises by giving written notice Landlord in order to perform acts of maintenance, cure defaults, preserve the Premises, or attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord's interest under this Lease, shall not be deemed a termination of Tenant's right to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate possession or a termination of this Lease or unless Landlord has notified Tenant in writing that this Lease is terminated. If Landlord terminates this Lease and Tenant's right to possession of the Premises. Should Premises pursuant to this Subsection 20.2(a), then Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfrom Tenant:
(i) The worth, worth at the time of awardthe award of unpaid rent, including, without limitation, Tenant's share of the unpaid Rent that has Additional Expenses and Additional Taxes, which had been earned at the time of the termination of this Lease;termination; plus
(ii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of the award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; andplus
(iv) Any other amount amounts necessary to compensate Landlord for all of the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease which in the ordinary course of things would be likely to result therefrom, including, but not limited towithout limitation, any legal expenses, brokers commissions, or finders fees in connection with reletting the Premises; the costs of repairs, cleanup, refurbishing, removal, and expenses storage or disposal of Tenant's personal property, equipment, fixtures, and anything else that Tenant is required under this Lease to remove but does not remove (including attorneys' feesthose alterations which Tenant is required to remove pursuant to an election by Landlord, and which Landlord actually removes, whether or not notice to remove shall be delivered to Tenant); and any costs for alterations, additions, and renovations incurred by Landlord in regaining possession of and reletting (or attempting to relet) the Premises. All computations of the "worth at the time of the award" of amounts recoverable by Landlord under Subsections (i) and (ii) hereof shall be computed by allowing interest at the maximum lawful rate per annum allowed for commercial transactions as of the date on which the event of default occurred. The "worth at the time of the award" recoverable by Landlord under Subsection (iii) and the discount rate for purposes of determining any amounts recoverable under Subsection (iv), if applicable, shall be computed by discounting the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank of California San Francisco at the time of the award plus one percent (1%). If Tenant tenders to Landlord in an offer of settlement all sums due under this Subsection 20.2(a) after Landlord has notified Tenant of exercise of the remedies under this Subsection 20.2(a), then the "worth at the time of the award" shall be determined at the time of the tender of payment of the entire amount of such sums by Tenant.
(b) Upon termination of this Lease, whether by lapse of time or otherwise, Tenant shall immediately vacate the Premises and deliver possession to Landlord. If Tenant has vacated the Premises and Landlord or any of its agents has reason to believe that Tenant does not intend to reoccupy the Premises, and current or past rent has been due or unpaid for at least fourteen (14) consecutive days, then Landlord shall have the right to send Tenant a notice of belief of abandonment pursuant to Section 1951.3 of the California Civil Code. The Premises will be deemed abandoned, and the Tenant's right to possession of the Premises will terminate on the date set forth in such notice, unless Landlord receives (at its address for notices pursuant to this Lease) before such date a notice from Tenant stating (i) Tenant's intent not to abandon the Premises, and (ii) an address at which Tenant may be served in any action for unlawful detainer of the Premises and/or damages or other relief available at law or in equity. If the Premises are deemed abandoned (either through the aforementioned procedure or due to any statement by Tenant to that effect), or if Landlord or any of its agents acts pursuant to a court costsorder, advertising then Landlord or any of its agents shall have the right, without terminating this Lease, to re-enter the Premises and remove all persons therefrom and any or all of Tenant's fixtures, equipment, furniture, and other personal property (herein collectively referred to as "Property") from the Premises, without being deemed in any manner liable for trespass, eviction, or forcible entry or detainer, or conversion of Property, and without relinquishing any right given to Landlord under this Lease or by operation of law. If Landlord re-enters the Premises in such situation, all Property removed from the Premises by Landlord or any of its agents and not claimed by the owner may be handled, removed, or stored, in a commercial warehouse or otherwise by Landlord at Tenant's risk and expense, and Landlord shall in no event be responsible for the value, preservation, or safekeeping thereof. Before the retaking of any such Property from storage, Tenant shall pay to Landlord, upon demand, all expenses incurred in such removal and all storage charges against such Property. Any such Property of Tenant not so retaken from storage by Tenant within thirty (30) days after such Property is removed from the Premises shall be deemed abandoned and may be either disposed of by Landlord pursuant to Section 1988 of the California Civil Code or retained by Landlord as its own property.
(c) Notwithstanding Landlord's right to terminate this Lease pursuant to Section 20.2(a), Landlord may, at its option, even though Tenant has breached this Lease and abandoned the Premises, continue this Lease in full force and effect and not terminate Tenant's right to possession, and enforce all of Landlord's rights and remedies under this Lease. In such event, Landlord shall have the remedy described in California Civil Code Section 1951.4 (Landlord may continue this Lease in effect after Tenant's breach and abandonment and recover rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations). Further, in such event, Landlord shall be entitled to recover from Tenant all costs of maintenance and brokers' commissions) of recovering possession preservation of the Premises, removing persons or property therefromand all costs, placing including attorneys' fees and receivers' fees, incurred in connection with appointment of and performance by a receiver to protect the Premises and Landlord's interest under this Lease. No reentry or taking possession of the Premises by Landlord pursuant to this Section 20.2(c) shall be construed as an election to terminate this Lease unless a written notice (signed by a duly authorized representative of Landlord) of intention to terminate this Lease is given to Tenant. Landlord may at any time after default by Tenant elect to terminate this Lease pursuant to Section 20.2(a), notwithstanding Landlord's prior continuance of this Lease in good ordereffect for any period of time, condition and repairupon and after Tenant's default under this Lease, preparing Landlord may, but need not, relet the Premises or any part thereof for the account of Tenant to any person, firm, partnership, corporation, or other business entity for such rent, for such time, and altering upon such terms as Landlord, in its sole discretion, shall determine. Subject to the provisions of this Lease regarding assignment and subletting in Article 13, Landlord shall not be required to accept any substitute tenant offered by Tenant or to observe any instructions given by Tenant regarding such reletting. Landlord may remove (and repair any damage caused by such removal) and store (or dispose of) any of Tenant's personal property, equipment, fixtures, and anything else Tenant is required (under this Lease at the election of Landlord or otherwise) to remove but does not remove, and Landlord may also make repairs, renovations, alterations, and/or additions to the Premises to the extent deemed by Landlord necessary or desirable in connection with any attempt to relet the Premises. Tenant shall upon demand pay the cost of such repairs, alterations, additions, removal, storage, and renovations, together with any legal expenses, brokers commissions, or finders fees and any other expenses incurred by Landlord in connection with its entry upon the Premises and attempt to relet the Premises. If Landlord is able to relet the Premises for Tenant's account during the remaining portion of the Term and the consideration collected by Landlord from any reletting is not sufficient to pay monthly the full amount of rent and additional rent payable by Tenant under this Lease, together with any legal expenses, brokers commissions, or finders fees, any cost for repairs, alterations, additions, removal, storage, and renovations, and any other cost and expense incurred by Landlord in re-entering the Premises and reletting the Premises, then Tenant shall pay to Landlord the amount of each monthly deficiency upon demand. Any rentals received by Landlord from any such reletting shall be applied as follows:
(i) First, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord;
(ii) Second, to the payment of any costs of reentry and reletting the Premises;
(iii) Third, to the payment of costs of any such alterations, repairs, additions, removal, storage, and renovations to the Premises;
(iv) Fourth, to the payment of rent due and unpaid under this Lease; and
(v) The residue, if any, shall be held by Landlord and applied as payment of future rent as the same may become due and payable under this Lease.
(d) No act or omission by Landlord or its agents during the Term shall be an acceptance of a surrender of the Premises, and no agreement to accept a surrender of the Premises shall be valid, unless made in writing and signed by a duly authorized representative of Landlord. Neither any remedy set forth in this Lease nor pursuit of any particular remedy shall preclude Landlord from any other remedy set forth in this Lease or otherwise available at law or in equity. Landlord shall be entitled to a restraining order or injunction to prevent Tenant from breaching or defaulting under any of its obligations under this Lease other than the payment of rent or other sums due hereunder.
(e) Neither the termination of this Lease nor the exercise of any remedy under this Lease or otherwise available at law or in equity shall affect the right of Landlord to any right of indemnification set forth in this Lease or otherwise available at law or in equity by reason of Tenant's occupancy of the Premises, and all rights to indemnification or other costs obligations of Tenant shall survive termination of this Lease and expenses termination of relettingTenant's right to possession under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Tickets Com Inc)
Landlord’s Remedies. In the event of an Event of any Default by Tenant under Section 10.01 then this Lease, Landlord, at its option, may, in addition to any and all other rights and remedies provided in this Lease or remedies it may have otherwise at law, law or in equity do or otherwise, shall have perform any or all of the following rightsfollowing:
(a) Landlord shall have 21.2.1. Terminate the right to terminate this Lease and Tenant's Xxxxxx’s right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to any lawful means, in which case this Lease shall terminate and Tenant shall terminate this Lease or Tenant's right immediately surrender possession to possession of the PremisesLandlord. Should Landlord at any time terminate this Lease for any breachIn such event, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
from Tenant all of: (i) The worth, the worth at the time of award, of the any unpaid Rent that which has been earned at the time of the termination of this Lease;
such termination; plus (ii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could have been reasonably avoided;
; plus (iii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could be have been reasonably avoided; and
plus (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, including, 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 but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) out-of-pocket cost of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting, including renovation and alteration of the Premises, reasonable attorneys’ fees, and that portion of any leasing commission paid by Landlord in connection with this Lease applicable to the unexpired Term (as of the date on which this Lease is terminated)); and (v) at Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law. As used in subsection (i) and (ii), above, the “worth at the time of award” shall be computed by discounting such amount at the current yield, as of the date on which this Lease is terminated under this Section 21.2, on United States Treasury Bills having a maturity date closest to the stated Expiration Date of this Lease, plus three percent (3%) per annum. As used in subsection (iii) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). Landlord shall use its commercially reasonable efforts to mitigate any damages arising out of or resulting from Xxxxxx’s Default; provided, however, any efforts by Landlord to mitigate damages caused by Xxxxxx’s Default shall not waive Landlord’s right to recover damages under this Section 21.2; or
21.2.2. Landlord 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 assign, subject only to reasonable limitations); or;
21.2.3. Pursue any other remedy now or hereafter available under the laws of the state in which the Premises are located.
21.2.4. Without limitation of any of Landlord’s rights in the event of a Default by Xxxxxx, Landlord may also exercise its rights and remedies with respect to any security held or maintained by Landlord. Tenant hereby waives the provisions of California Civil Code Section 3275 and California Code of Civil Procedure Sections 1174(c) and 1179. Any and all personal property of Tenant that may be removed from the Premises by Landlord pursuant to the authority of this Lease or of law may be handled, removed or stored by Landlord, provided same is performed with commercially reasonable care, at the sole risk, cost and expense of Tenant, and in no event or circumstance shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all out-of-pocket expenses incurred in such removal and all storage charges for such property of Tenant so long as the same shall be in Landlord’s possession or under Xxxxxxxx’s control. Any such property of Tenant not removed from the Premises as of the Expiration Date or any other earlier date on which this Lease is terminated shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as in a bill of sale, without further payment or credit by Landlord to Tenant. Neither expiration or termination of this Lease nor the termination of Tenant’s right to possession shall relieve Tenant from its liability under the indemnity provisions of this Lease. For purposes of determining any recovery of Rent or damages by Landlord that depends upon the amount that Landlord could collect by using reasonable efforts to relet the Premises, in the event such determination is required by applicable Law, notwithstanding the foregoing waiver by Xxxxxx, it is understood and agreed that:
(a) Landlord may decline to incur out-of-pocket costs to relet the Premises, other than customary leasing commissions and legal fees for the negotiation of a lease with a new tenant.
(b) Landlord may decline to relet the Premises at rental rates below then prevailing market rental rates, because of the negative impact lower rental rates would have on the value of the Improvements and because of the uncertainty of actually receiving from Tenant the greater damages that Landlord would suffer from and after reletting at the lower rates.
(c) Before reletting the Premises to a prospective tenant, Landlord may require the prospective tenant to demonstrate financial wherewithal.
(d) Identifying a prospective tenant to relet the Premises, negotiating a new lease with such tenant and making the Premises ready for such tenant will take time, depending upon market conditions when the Premises first become available for reletting, and during such time, Landlord cannot be expected to collect any revenue from reletting.
(e) Listing the Premises with a broker in a manner consistent with parts (a) through (c) above constitutes reasonable efforts on the part of Landlord to relet the Premises.
Appears in 1 contract
Samples: Ground Lease (KAR Holdings, Inc.)
Landlord’s Remedies. In (a) Upon the event occurrence of an Event of Default under Section 10.01 then Default, Landlord, in addition to at its option, and without limiting the exercise of any other rights right or remedies it remedy Landlord may have at on account of such Event of Default, and without any further demand or notice, may give to Tenant 3 days’ notice of termination of this Lease, in which event this Lease and the Term shall come to an end and expire (whether or not the Term shall have commenced) upon the expiration of such 3 day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 15, and/or, to the extent permitted by law, in equity Landlord may remove all persons and property from the Premises, which property shall be stored by Landlord at a warehouse or otherwiseelsewhere at the risk, shall have expense and for the following rights:account of Tenant.
(ab) If Landlord shall have the right elects to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachLease, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages then Landlord shall be entitled to recover under this Lease shall include without limitationfrom Tenant the aggregate of:
(i) The worth, worth at the time of award, award of the unpaid Rent that has been rent earned at as of the time date of the termination of this Leasehereof;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease hereof until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; 6219070.4
(iii) The worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award exceeds the amount of such rental loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease or which, includingin the ordinary course of things, but not limited towould be likely to result therefrom; and
(v) Any other amount which Landlord may hereafter be permitted to recover from Tenant to compensate Landlord for the detriment caused by Tenant’s default. For the purposes of this Section 15.2(b), “rent” shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others, the costs and expenses (including attorneys' fees, “time of award” shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of such Event of Default is entered or such earlier date as the court costs, advertising costs and brokers' commissions) may determine; the “worth at the time of recovering possession award” of the Premises, removing persons or property therefrom, placing amounts referred to in Sections 15.2(b)(i) and 15.2(b)(ii) shall be computed by allowing interest on such amounts at the Premises Interest Rate; and the “worth at the time of award” of the amount referred to in good order, condition and repair, preparing and altering Section 15.2(b)(iii) shall be computed by discounting such amount at the Premises for reletting and all other costs and expenses discount rate of relettingthe Federal Reserve Bank of San Francisco at the time of award plus 1% per annum.
Appears in 1 contract
Landlord’s Remedies. In the event of an Event of Default under Section 10.01 then LandlordXxxxxx's default hereunder, in addition to any other rights or remedies it which Landlord may have at lawhave, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right, at Landlord's option, to do any of the following:
(i) obtain the rights and remedies provided by California Civil Code Section 1951.2, including, but not limited to, the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, the worth at the time of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) 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 this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of rental loss for the loss of Rent same period that the Tenant proves could be reasonably avoided; and, as computed pursuant to subsection (b) of Section 1951.2 of the Civil Code;
(ii) obtain the rights and remedies described in California Civil Code Section 1951.4 (Landlord may continue the Lease in effect after Xxxxxx's breach and abandonment and recover Rent as it becomes due, if Xxxxxx has the right to sublet or assign, subject only to reasonable limitations);
(iii) obtain from Tenant, as damages, all of the costs and expenses, including unamortized construction costs, architect and engineering fees, incurred by Landlord (a) in constructing the Tenant Improvements in connection with this Lease or (b) in making repairs or constructing any new improvements to the Premises for the benefit of any replacement tenant to whom Landlord may lease the Premises after Tenant's default. (Notwithstanding the foregoing, if at the time of trial in any action brought by Landlord against Tenant to obtain such damages, Landlord has leased the Premises to another tenant, the aforesaid damages shall be reduced to the extent that the improvements constructed by Landlord are used by a subsequent tenant.);
(iv) Any other amount necessary obtain from Tenant, as damages, any real estate brokerage fees and costs incurred by Landlord in leasing the Premises to compensate Landlord for all detriment proximately caused by a replacement tenant after Tenant's breachdefault; and/or
(v) obtain full Rent from Tenant for that period(s), includingif any, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession of the Premises, removing persons or property therefrom, placing during which this Lease permitted Tenant to occupy the Premises in good order, condition and repair, preparing and altering without the Premises for reletting and all other costs and expenses payment of relettingfull Rent.
Appears in 1 contract
Samples: Office Lease (Cnet Inc /De)
Landlord’s Remedies. In the event of 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 10.01 then 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 or and remedies it to which Landlord may have at be entitled under applicable law, in equity or otherwise, shall have the following rights:
Landlord may recover from Tenant: (a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, worth at the time of award, award of the unpaid Rent that has rent which had been earned at the time of termination; (b) the termination of this Lease;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rent loss of Rent that Tenant proves could have been reasonably avoided;
; (iiic) The worth, the worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rent loss of Rent that Tenant proves could be reasonably avoided; and
and (ivd) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, including, but not limited to, ’s failure to perform its obligations under this Lease or which in the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) ordinary course of recovering possession things would be likely to result therefrom. The “worth at the time of award” of the Premises, removing persons or property therefrom, placing amounts referred to in clauses (a) and (b) above shall be computed by allowing interest at the Premises rate set forth in good order, condition and repair, preparing and altering Section 18.04 hereof. The “worth at the Premises for reletting and all other costs and expenses time of relettingaward” of the amount referred to in clause (c) above shall be computed by discounting such amount at a rate equal to the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percentage point.
Appears in 1 contract
Samples: Office Lease (Medivation, Inc.)
Landlord’s Remedies. (a) In the event of an Event any default by Tenant, or in the event of Default under Section 10.01 the legal abandonment of the Premises by Tenant, then Landlord, in addition to any other rights or remedies it available to Landlord, Landlord may have at law, in equity or otherwise, shall have exercise the following rightsremedies:
(ai) Landlord shall have the right to may terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to any lawful means, in which case this Lease shall terminate and Tenant shall terminate this Lease or Tenant's right to immediately surrender possession of the PremisesPremises to Landlord. Should Landlord at Such termination shall not affect any time terminate accrued obligations of Tenant under this Lease for any breachLease. Upon termination and subject to applicable law, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall have the right to reenter the Premises and remove all persons and property. Landlord shall also be entitled to recover under this Lease shall include without limitationfrom Tenant:
(i1) The worth, worth at the time of award, award of the unpaid Rent that has rent and additional rent which had been earned at the time of the termination of this Leasetermination;
(ii2) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent and additional rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the loss of Rent suchloss that Tenant proves could have been reasonably avoided;
(iii3) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent and additional rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such loss of Rent that Tenant proves could be reasonably avoided; and;
(iv4) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result from Tenant's default, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) cost of recovering possession of the Premises, removing persons or property therefromrefurbishmentof the Premises, placing the Premises in good ordermarketing costs, condition commissions and other expenses of reletting, including necessary repair, preparing the unamortized portion of any tenant improvements and altering brokerage commissions funded by Landlord in connection with this Lease, reasonable attorneys' fees, and any other reasonable costs; and
(5) At Landlord's election, all other amounts in addition to or in lieu of the Premises for reletting foregoing as may be permitted by law. The term "rent" as used in this Lease shall be deemed to mean the Basic Rent and all other costs sums required to be paid by Tenant to Landlord pursuant to the terms of this Lease. Any sum, other than Basic Rent, shall be computed on the basis of the average monthly amount accruing during the twenty-four (24) month period immediately prior to default, except that if it becomes necessary to compute such rental before the twenty-four (24) month period has occurred, then the computation shall be on the basis of the average monthly amount during the shorter period. As used in subparagraphs (1) and expenses (2) above, the "worth at the time of relettingaward" shall be computed by allowing interest at the rate of ten percent (10%) per annum. As used in subparagraph (3) above, the "worth at the time of award" shall be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Landlord’s Remedies. In the event of an Event of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rights:
(a) If Landlord shall have the right elects to terminate this Lease and Tenant's right by serving a notice pursuant to possession Section 15.1 above, or otherwise, then pursuant, pursuant to Section 1951.2 of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachCalifornia Civil Code, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfrom Tenant the aggregate of:
(i) The worth, worth at the time of award, award of the unpaid Rent that has been rent earned at as of the time date of the termination of this Leasehereof;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease hereof until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; and;
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which, includingin the ordinary course of things, but not limited towould be likely to result therefrom; and
(v) Any other amount which Landlord may hereafter be permitted to recover from Tenant to compensate Landlord for the detriment caused by Tenant's default. For the purposes of this Section 15.2, "rent" shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others, the costs and expenses (including attorneys' fees, "time of award" shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of such Event of Default is entered or such earlier date as the court costs, advertising costs and brokers' commissions) may determine; the "worth at the time of recovering possession award" of the Premisesamounts referred to in Sections 15.2(i) and 15.2(ii) shall be computed by allowing interest on such amounts at the Interest Rate; and the "worth at the time of award" of the amount referred to in Section 15.2(iii) shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%) per annum. Tenant agrees that such charges shall be recoverable by Landlord under California Code of Civil Procedure Section 1174(b) or any similar, removing persons successor or property therefromrelated provision of law. 789956.06/WLA 377061-00006/sb/sb Arboretum Courtyard [Catasys, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting.Inc.]
Appears in 1 contract
Samples: Lease (Catasys, Inc.)
Landlord’s Remedies. In the event of an If any Event of Default under Section 10.01 then Landlordoccurs, in addition to any other rights or remedies it may have at lawthen, in equity or otherwise, landlord shall have the following rightsoptions, without further notice or demand of any kind:
(a) Landlord shall have the right to Option 1. Xxx for Rents as they become due; or
(b) Option 2.
(i) terminate this Lease and Tenant's right to Lease; (ii) resume possession of the Premises by giving written notice (together with all additions, alterations, fixtures and improvements thereto) for its own account; and (iii) recover immediately from Tenant any and all sums and damages for violation of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, obligations hereunder in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, existence or due at the time of award, termination and damages for tenant's default in an amount equal to the difference between the Rent for which provision is made in this Lease and fair rental value of the unpaid Rent that has been earned at Premises for the time remainder of the termination Lease Term, together with all other charges, rental payments, costs and expenses herein agreed to be paid by Tenant which include, but are not limited to, all costs and expenses of this Lease;
Landlord in connection with any attempts to release or relet the Premises (ii) 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 this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' broker's fees, court costs, advertising costs and brokers' commissions) cleaning expenses), the costs of recovering possession the premises, and the costs of repairs and renovations reasonably necessary in connection with any re-leasing or reletting;
(c) Option 3. Accelerate the whole or any part of Rent, Additional Rent and Shared Expenses for the entire unexpired balance of the PremisesLease Term, removing persons as well as all other charges, payments, costs and expenses to be paid by Tenant hereunder, including but not limited to damages for violation of Tenant's obligations hereunder in existence at the time of acceleration, so that all sums due and payable under this Lease will be treated as payable in advance on the date of acceleration and this Lease will remain in effect. For the purposes of determining the amounts due upon acceleration, the total amount so accelerated will be reduced to present value (using an assumed interest rate of 8%); or
(d) Option 4. (i) resume possession; (ii) re-lease or property therefrom, placing the Premises in good order, condition and repair, preparing and altering re-rent the Premises for reletting the remainder of the Lease Term for the account of Tenant; (iii) recover from Tenant at the end of the Lease Term or at the time each payment of Rent becomes due under this Lease (adjusted to present value using an assumed interest rate of 8%), as Landlord may elect, the difference between the rent for which provision is made in this Lease and the rent received on the re-leasing or re-renting, together with all other costs and expenses of Landlord in connection with such re-leasing or re-rental, the collection of rent and the cost of all repairs or renovations reasonably necessary in connection with the re-leasing or re-rental for the purpose of such reletting, Landlord is authorized to decorate, to make any repairs to the Premises and/or to subdivide or restructure the Premises as Landlord sees fit ("Tenancy Repairs and Modifications"). Further, Landlord is authorized to enter into new leases in which the Lease Term or other terms and conditions are different from this Lease ("Lease Modifications"). Concerning any Tenancy Repairs and Modifications and any Lease Modifications, Tenant agrees that such Tenancy Repairs and Modifications and Lease Modifications are being performed for the purpose or reletting and mitigating Tenant's damages, and, as such are done for the benefit of the Tenant and are valid costs or reletting; and (iv) Recover from Tenant immediately any other damages occasioned by or resulting from the abandonment or a breach or default other than a default in the payment or rent; or
(e) Option 5. Without terminating this Lease, enter upon the Premises, without being liable for prosecution or any claim for damages therefor whether caused by the negligence of landlord or otherwise), and do whatever Tenant is obligated to do under the terms of this Lease, in which event Tenant shall reimburse landlord on demand for any expenses which Landlord may incur in thus effecting compliance with the terms of this Lease. Notwithstanding the foregoing, with respect to re-leasing or re-renting the Premises, Landlord and Tenant agree that Landlord shall only be required to use the same efforts Landlord then uses to lease other properties Landlord owns or manages; provided, however, that Landlord shall not be required to give any preference or priority to the showing _________ of the Premises over any other space that Landlord may be leasing ________ available and may place a ________ prospective tenant in any such available space regardless of when such ________ space becomes available; provided, further, that Landlord shall not be required to observe any instruction given by tenant about such re-letting or accept any tenant unless such offered tenant has a creditworthiness acceptable to landlord, leases the entire Premises, agrees to use the Premises in a manner consistent with the Lease, and leases the Premises at the same or greater rent, for no more than the current Lease Term, on the same terms and conditions of this Lease, and does not require an expenditure by Landlord for tenant improvements or broker's commissions.
Appears in 1 contract
Landlord’s Remedies. In the event Upon default by Tenant under this Lease, Landlord may, at its option, take any or all of an Event of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rightsactions:
(a) Landlord shall have the right to terminate Terminate this Lease and Tenant's right to possession all rights of the Premises Tenant and any subtenants, licensees or concessionaires hereunder by giving written notice of termination such intention to Tenantterminate. No act by In the event that Landlord other than giving express written notice shall elect to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should as provided in this subsection, then Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it recover from Tenant all amounts which landlord is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationpursuant to Section 1951.2 of the California Civil Code (or any successor thereto), including, but not limited to:
(i) The worth, worth at the time of award, award of the any unpaid Rent that has which had been earned at the time of the termination of this Lease;such termination; plus
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could be reasonably avoided; andplus
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease or which in the ordinary course of events would be likely to result therefrom; plus
(v) At Landlord’s election, includingsuch other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the law of the State of California.
(b) As used in subsections (a) (i) and (ii) above, the “worth at the time of award” is computed by allocating interest at the lower of fifteen percent (15%) per annum or the highest rate then permitted by law (the “Default Rate”). As used in subsection (a) (iii) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(c) In the event of the default and abandonment of the Premises by Tenant, and without terminating or effecting a forfeiture of this Lease or otherwise relieving Tenant of any obligation hereunder in the absence of express written notice of Landlord’s election to do so, Landlord may, but not limited toneed not, relet the Premises or any portion thereof at any time or from time to time and for such terms and upon such conditions and Rent as Landlord in its discretion may deem proper, with the right to make alterations or repairs to the Premises. If Landlord relets the Premises or any portion thereof, the Rent received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; second, to the payment of any cost of such reletting; third, to the payment of the cost of any alterations and repairs to the Premises; fourth, to the payment of Rent due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future amounts as the same may become due and payable hereunder. Should the Rent for such reletting, during any month for which the payment of Rent is required hereunder, be less than the Rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord immediately upon demand therefor by Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord as soon as ascertained, any costs and expenses (including attorneys' feesincurred by Landlord in such reletting or in making such alterations and repairs not covered by the Rent received from such reletting. Landlord may execute any lease made pursuant hereto in its own name, court costsand the lessee thereunder shall be under no obligation to see to the application by Landlord of any proceeds to Landlord, advertising costs and brokers' commissions) of recovering possession nor shall Tenant have any right to collect any such proceeds. Landlord shall not by any re-entry or other act be deemed to have accepted any surrender by Tenant of the PremisesPremises or Tenant’s interest therein, removing persons or property therefrombe deemed to have terminated the Lease, placing or to have relieved Tenant of any obligations hereunder, unless Landlord shall have given Tenant express written notice of Landlord’s election to do so as set forth herein. Election by Landlord to proceed pursuant to this paragraph shall be made upon written notice to Tenant and shall be deemed an election of the Premises remedy described in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingCalifornia Civil Code Section 1951.
Appears in 1 contract
Landlord’s Remedies. In Landlord shall have any one or more of the event following remedies after the occurrence of an Event of Default under Section 10.01 then Landlord, a default by Tenant. These remedies are not exclusive; they are cumulative in addition to any other rights remedies now or remedies it may have at later allowed by law, in equity equity, or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate 14.2.1. Terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant, in which event Tenant immediately shall surrender the Premises to Landlord. If Tenant fails to so surrender the Premises, then Landlord, without prejudice to any other remedy it has for possession of the Premises or arrearages in rent or other damages, may re-enter and take possession of the Premises and expel or remove Tenant and any other person or entity occupying the Premises or any part thereof, without being liable for any damages, whether caused by negligence of Landlord or otherwise.
14.2.2. No act by Landlord other than giving express written notice of termination to Tenant shall terminate this Lease or Tenant's right Lease. Acts of maintenance, efforts to possession of relet the Premises. Should Landlord at any time terminate this Lease for any breach, in addition or the appointment of a receiver on Landlord's initiative to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover protect Landlord's interest under this Lease shall include without limitationnot constitute a termination of this Lease. On termination of the Lease, Landlord shall have the right to recover from Tenant:
(i) The worth, worth at the time of award, the award of the unpaid Rent rent that has had been earned at the time of the termination of this Lease;; and
(ii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent rent that would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the loss of Rent rent that Tenant proves reasonably could have been reasonably avoided;; and
(iii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent rent that Tenant proves reasonably could be reasonably have been avoided; and
(iv) Any other amount amount, including, without limitation, attorneys' fees and court costs, necessary to compensate Landlord for all detriment proximately caused by Tenant's breachdefault. The phrase "WORTH AT THE TIME OF THE AWARD" as used in clauses (i) and (ii) above is to be computed by allowing interest at the rate of twelve percent (12%) per annum, but not to exceed the then legal rate of interest. The same phrase as used in clause (iii) above is to be computed by discounting the amount at the discount rate of the Bank of America N.A. at the time of the award, plus one percent (1%). Landlord agrees to act reasonably to mitigate any damages hereunder.
14.2.3. Landlord may re-enter and take possession of the Premises without terminating this Lease and without being liable for any damages, whether caused by the negligence of Landlord or otherwise. Landlord may relet the Premises, or any part of them, to third parties, but has no obligation to do so. Landlord may relet the Premises on whatever terms and conditions Landlord, in its sole discretion, deems advisable. Reletting can be for a period shorter or longer than the remaining term of this Lease. Landlord's action under this Subsection is not considered an acceptance of Tenant's surrender of the Premises unless Landlord so notifies Tenant in writing. Tenant shall be immediately liable to Landlord for all costs Landlord incurs in reletting the Premises, including brokers' commissions, expenses of remodeling the Premises required by the reletting, and like costs. Tenant shall pay to Landlord the rent due under this Lease on the dates the rent is due, less the rent Landlord receives from any reletting. If Landlord elects to relet the Premises without terminating this Lease, any rent received will be applied to the account of Tenant, not to exceed Tenant's total indebtedness to Landlord; no reletting by Landlord is considered to be for its own account unless Landlord has notified Tenant in writing that the Lease has been terminated. If Landlord elects to relet the Premises, rent that Landlord receives from reletting will be applied to the payment of: (i) first, any indebtedness from Tenant to Landlord other than rent due from Tenant; (ii) second, all costs, including maintenance, incurred by Landlord in reletting; and (iii) third, rent due and unpaid under the Lease. After deducting the payments referred to in this Subsection, any sum remaining from the rent Landlord receives from reletting will be held by Landlord and applied in payment of future rent as rent becomes due under this Lease. If, on the date rent is due under this Lease, the rent received from the reletting is less than the rent due on that date, Tenant will pay to Landlord, in addition to the remaining rent due, all costs, including maintenance, Landlord incurred in reletting which remain after applying the rent received from the reletting. Tenant shall have no right to or interest in the rent or other consideration received by Landlord from reletting to the extent it exceeds Tenant's total indebtedness to Landlord.
14.2.4. Re-enter the Premises without terminating this Lease and without being liable for any damages, whether caused by the negligence of Landlord or otherwise, and do whatever Tenant is obligated to do under the terms of this Lease. The expenses incurred by Landlord in effecting compliance with Tenant's obligations under this Lease immediately shall become due and payable to Landlord as additional rent.
14.2.5. In all events, Tenant is liable for all damages of whatever kind or nature, direct or indirect, suffered by Landlord as a result of the occurrence of an Event of Default. If Tenant fails to pay Landlord in a prompt manner for the damages suffered, Landlord may pursue a monetary recovery from Tenant. Included among these damages are all expenses incurred by Landlord in repossessing the Premises (including, but not limited to, increased insurance premiums resulting from Tenant's vacancy), all expenses incurred by Landlord in reletting the Premises (including, but not limited to, those incurred for advertisements, brokerage fees, repairs, remodeling, and replacements), all concessions granted to a new tenant on a reletting, all losses incurred by Landlord as a result of Tenant's default (including, but not limited to, any unamortized commissions paid in connection with this Lease), a reasonable allowance for Landlord's administrative costs attributable to Tenant's default, and all attorneys' fees incurred by Landlord in enforcing any of Landlord's rights or remedies against Tenant.
14.2.6. Pursuit of any of the foregoing remedies does not constitute an irrevocable election of remedies nor preclude pursuit of any other remedy provided elsewhere in this Lease or by applicable law, and none is exclusive of another unless so provided in this Lease or by applicable law. Likewise, forbearance by Landlord to enforce one or more of the remedies available to it on an Event of Default does not constitute a waiver of that default or of the right to exercise that remedy later or of any rent, damages, or other amounts due to Landlord hereunder.
14.2.7. Whether or not Landlord elects to terminate this Lease or Tenant's right to possession of the Premises on account of any default by Tenant, Landlord shall have all rights and remedies at law or in equity, including, but not limited to, the costs right to re-enter the Premises and, to the maximum extent provided by law, Landlord shall have the right to terminate any and expenses (including attorneys' feesall subleases, court costslicenses, advertising costs concessions, or other consensual arrangements for possession entered into by Tenant and brokers' commissions) affecting the Premises or, in Landlord's sole discretion, may succeed to Tenant's interest in such subleases, licenses, concessions, or arrangements. In the event of recovering possession Landlord's election to succeed to Tenant's interest in any such subleases, licenses, concessions, or arrangements, Tenant shall have no further right to or interest in the rent or other consideration receivable thereunder as of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses date of relettingnotice by Landlord of such election.
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Landlord’s Remedies. In Landlord shall have any one or more of the event following remedies after the occurrence of an Event of Default under Section 10.01 then Landlord, a default by Tenant. These remedies are not exclusive; they are cumulative in addition to any other rights remedies now or remedies it may have at later allowed by law, in equity equity, or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate 17.2.1 Terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant, in which event Tenant immediately shall surrender the Premises to Landlord. If Tenant fails to so surrender the Premises, then Landlord, without prejudice to any other remedy it has for possession of the Premises or arrearages in rent or other damages, may re-enter and take possession of the Premises and expel or remove Tenant and any other person or entity occupying the Premises or any part thereof, without being liable for any damages, whether caused by the negligence of Landlord or otherwise.
17.2.2 No act by Landlord other than giving express written notice of termination to Tenant shall terminate this Lease or Tenant's right Lease. Acts of maintenance, efforts to possession of relet the Premises. Should Landlord at any time terminate this Lease for any breach, in addition or the appointment of a receiver on Landlord’s initiative to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover protect Landlord’s interest under this Lease shall include without limitationnot constitute a termination of this Lease. On termination of the Lease, Landlord shall have the right to recover from Tenant:
(i) The worth, worth at the time of award, the award of the unpaid Rent rent that has had been earned at the time of the termination of this Lease;; and
(ii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent rent that would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the loss of Rent rent that Tenant proves reasonably could have been reasonably avoided;; and
(iii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent rent that Tenant proves reasonably could be reasonably have been avoided; and
(iv) Any other amount amount, including court costs, necessary to compensate Landlord for all detriment proximately caused by Tenant's breach’s default. The phrase “worth at the time of the award” as used in clauses (i) and (ii) above is to be computed by allowing interest at the rate of ten percent (10%) per annum, but not to exceed the then legal rate of interest. The same phrase as used in clause (iii) above is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%). The term “rent” as used in this Section 17.2.2 means the Monthly Rent and all other sums payable by Tenant hereunder, including, without limitation, Taxes and insurance.
17.2.3 Landlord may re-enter and take possession of the Premises without terminating this Lease and without being liable for any damages, whether caused by the negligence of Landlord or otherwise. Landlord may relet the Premises, or any part of them, to third parties, but has no obligation to do so. Landlord may relet the Premises on whatever terms and conditions Landlord, in its sole discretion, deems advisable. Reletting can be for a period shorter or longer than the remaining term of this Lease. Landlord’s action under this Subsection is not considered an acceptance of Tenant’s surrender of the Premises unless Landlord so notifies Tenant in writing. Tenant shall be immediately liable to Landlord for all costs Landlord incurs in reletting the Premises, including brokers’ commissions, expenses of remodeling the Premises required by the reletting, and like costs. Tenant shall pay to Landlord the rent due under this Lease on the dates the rent is due, less the rent Landlord receives from any reletting. If Landlord elects to relet the Premises without terminating this Lease, any rent received will be applied to the account of Tenant, not to exceed Tenant’s total indebtedness to Landlord; no reletting by Landlord is considered to be for its own account unless Landlord has notified Tenant in writing that the Lease has been terminated. If Landlord elects to relet the Premises, rent that Landlord receives from reletting will be applied to the payment of: (i) first, any indebtedness from Tenant to Landlord other than rent due from Tenant; (ii) second, all costs, including maintenance, incurred by Landlord in reletting; and (iii) third, rent due and unpaid under the Lease. After deducting the payments referred to in this Subsection, any sum remaining from the rent Landlord receives from reletting will be held by Landlord and applied in payment of future rent as rent becomes due under this Lease. If, on the date rent is due under this Lease, the rent received from the reletting is less than the rent due on that date. Tenant will pay to Landlord, in addition to the remaining rent due, all costs, including maintenance, Landlord incurred in reletting which remain after applying the rent received from the reletting. Tenant shall have no right to or interest in the rent or other consideration received by Landlord from reletting to the extent it exceeds Tenant’s total indebtedness to Landlord.
17.2.4 Re-enter the Premises without terminating this Lease and without being liable for any damages, whether caused by the negligence of Landlord or otherwise, and do whatever Tenant is obligated to do under the terms of this Lease. The expenses incurred by Landlord in affecting compliance with Tenant’s obligations under this Lease immediately shall become due and payable to Landlord as additional rent.
17.2.5 In all events, Tenant is liable for all damages of whatever kind or nature, direct or indirect, suffered by Landlord as a result of the occurrence of an Event of Default. If Tenant fails to pay Landlord in a prompt manner for the damages suffered, Landlord may pursue a monetary recovery from Tenant. Included among these damages are all expenses incurred by Landlord in repossessing the Premises (including, but not limited to, increased insurance premiums resulting from Tenant’s vacancy), all expenses incurred by Landlord in reletting the Premises (including, but not limited to, those incurred for advertisements, brokerage fees, repairs, remodeling, and replacements), all concessions granted to a new tenant on a reletting, all losses incurred by Landlord as a result of Tenant’s default (including, but not limited to, any unamortized commissions paid in connection with this Lease), a reasonable allowance for Landlord’s administrative costs attributable to Tenant’s default, and all attorneys’ fees incurred by Landlord in enforcing any of Landlord’s rights or remedies against Tenant.
17.2.6 Pursuit of any of the foregoing remedies does not constitute an irrevocable election of remedies nor preclude pursuit of any other remedy provided elsewhere in this Lease or by applicable law, and none is exclusive of another unless so provided in this Lease or by applicable law. Likewise, forbearance by Landlord to enforce one or more of the remedies available to it on an Event of Default does not constitute a waiver of that default or of the right to exercise that remedy later or of any rent, damages, or other amounts due to Landlord hereunder.
17.2.7 Whether or not Landlord elects to terminate this Lease or Tenant’s right to possession of the Premises on account of any default by Tenant, Landlord shall have all rights and remedies at law or in equity, including, but not limited to, the costs right to re-enter the Premises and, to the maximum extent provided by law, Landlord shall have the right to terminate any and expenses (including attorneys' feesall subleases, court costslicenses, advertising costs concessions, or other consensual arrangements for possession entered into by Tenant and brokers' commissions) affecting the Premises or, in Landlord’s sole discretion, may succeed to Tenant’s interest in such subleases, licenses, concessions, or arrangements. In the event of recovering possession Landlord’s election to succeed to Tenant’s interest in any such subleases, licenses, concessions, or arrangements, Tenant shall have no further right to or interest in the rent or other consideration receivable thereunder as of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses date of relettingnotice by Landlord of such election.
Appears in 1 contract
Samples: Commercial Ground Lease (Palace Entertainment Holdings, Inc.)
Landlord’s Remedies. In Upon the event occurrence of an Event of Default under Section 10.01 then ------------------- Default, Landlord, at its option, without further notice or demand to Tenant, may, in addition to all other rights and remedies provided in this Lease, at law or in equity elect one or more of the following remedies:
(a) Terminate this Lease, in which event Tenant shall immediately surrender possession of the Premises to Landlord, and Landlord shall have all the rights and remedies of a landlord provided by California Civil Code Section 1951.2, or any successor statute, and in addition to any other rights or and remedies it may have at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfrom Tenant:
(i) The worth, the worth at the time of award, award of the unpaid Rent that has which had been earned at the time of the termination of this Lease;such termination; plus
(ii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; andplus
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or-which in the ordinary course of things would be likely to result therefrom, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissionswhether in-house or outside counsel) of recovering possession of the Premisesproperty, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting, including necessary repair, renovation and alteration of the Premises and brokerage commissions, and any other reasonable costs and expenses. As used in SECTION 21.2(A)(I) AND (II) above, the "worth at the time --------------------------- of award" is computed by allowing interest at the prime rate per annum announced by Xxxxx Fargo Bank, N.A., San Francisco, California as its prime rate. As used in SECTION 21.2(A)(III) ABOVE, the "worth at the time of -------------------------- award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(b) Terminate Tenant's right of possession of the Premises without terminating this Lease, in which event Landlord may, but shall not be obligated to except to the extent otherwise required by law, relet the Premises, or any part thereof, for the account of Tenant, for such rent and term and upon such other conditions as are acceptable to Landlord. For purposes of such reletting, Landlord is authorized to redecorate, repair, alter and improve the Premises to the extent necessary in Landlord's discretion. Until Landlord relets the Premises, Tenant shall remain obligated to pay Rent to Landlord as provided in this Lease. If and when the Premises are relet and if a sufficient sum is not realized from such reletting after payment of all of Landlord's expenses of reletting (including, without limitation, rental concessions to new tenants, repairs, Alterations, legal fees and brokerage commissions) to satisfy the payment of Rent due under this Lease for any month, Tenant shall pay Landlord any such deficiency upon demand. Tenant agrees that Landlord may file suit to recover any sums due Landlord under this Section from time to time and that such suit 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;
(c) In accordance with California Civil Code Section 1951.4 (or any successor statute), Tenant acknowledges that in the event 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 the Rent as it becomes due under this Lease. Acts of maintenance or preservation efforts to relet the Premises, or the appointment of a receiver upon initiative of Landlord to protect Landlord's interest under this Lease shall not constitute a termination of Tenant's right to possession.
Appears in 1 contract
Landlord’s Remedies. In Upon the event occurrence of an any Tenant Event of Default under Section 10.01 then Default, Landlord shall have the option to pursue any one or more of the following remedies without any notice or demand whatsoever:
(1) Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, in addition and if Tenant fails so to do, Landlord may, without prejudice to any other rights or remedies remedy which it may have at lawfor possession or arrearages in rent, in equity enter upon and take possession of the Premises and expel or otherwiseremove Tenant and any other person who may be occupying the Premises, shall have the following rightsor any part thereof, as permitted by applicable law without being liable to prosecution or for any claim for damages; and Landlord may recover from Tenant:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, worth at the time of award, award of the any unpaid Rent that rent which has been earned at the time of the termination of this Lease;such termination; plus
(iib) The worth, worth at the time of award, award of any amount by which the unpaid rent which would have been earned after termination until the time of award 34 42 exceeds the amount of such rental loss Tenant proves could have been reasonably avoided; plus
(c) The worth at the time of award of the amount by which the unpaid Rent that would have been earned rent for the balance of the term after the date of termination of this Lease until the time of the award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and: plus
(ivd) Any other reasonable amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease; and
(e) At Landlord's election, includingsuch other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law. All such amounts shall be computed on the basis of the monthly amount thereof payable on the date of Tenant's default; except that Percentage Rent shall be computed on the basis of the monthly average of all Percentage Rent received by or payable to Landlord during the period that Tenant was conducting Tenant's business in the Premises in the manner and to the extent required by this Lease, but not limited toor on the basis of the monthly amount thereof payable on the date of Tenant's default, if greater. As used in paragraphs (a) and (b) above, the costs and expenses "worth at the time of award" is computed by allowing interest in the per annum amount equal to the Default Rate. As used in paragraph (including attorneys' feesc) above, court costs, advertising costs and brokers' commissionsthe "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one (1%) of recovering possession of percent per annum.
(2) Enter upon the Premises, removing persons without being liable to prosecution or property therefromfor any claim for damages, placing and do whatever Tenant is obligated to do under the Premises terms of this Lease; and Tenant agrees to reimburse Landlord on demand for any reasonable and necessary expenses which Landlord may incur in good orderthus effecting compliance with Tenant's obligations hereunder. Pursuit of any of the foregoing remedies shall not preclude pursuit of any of the other remedies herein provided or any other remedies provided by law, condition nor shall pursuit of any remedy herein provided constitute a forfeiture or waiver of any rent due to Landlord hereunder or of any damage accruing to Landlord by reason of the violation of any of the terms, provisions and repair, preparing and altering covenants herein contained. Forbearance by Landlord to enforce one or more of the Premises for reletting and all other costs and expenses remedies herein provided upon the occurrence of relettinga Tenant Event of Default shall not be deemed or construed to constitute a waiver of such default.
Appears in 1 contract
Landlord’s Remedies. In Upon the occurrence of any event of an Event of Default under Section 10.01 then Landlorddefault, Landlord shall 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 precluding the Landlord from exercising any other rights remedy provided in this Lease or remedies it may have at law, otherwise allowed by law or in equity or otherwise, shall have the following rightsequity:
(a) Landlord shall have the right to may terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's ’s right to possession of the Premises. Should If Tenant has abandoned and vacated the Premises, the mere entry of the Premises by Landlord at any time terminate in order to perform acts of maintenance, cure defaults, preserve the Premises, or to attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord’s interest under this Lease, shall not be deemed a termination of Tenant’s right to possession or a termination of this Lease for unless Landlord has notified Tenant in writing that this Lease is terminated. Notification of any breach, default in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under Section 19.1 of this Lease shall include without limitationbe in lieu of, and not in addition to, any notice required under Section 1161, et seq., of the California Code of Civil Procedure. If Landlord terminates this Lease and Tenant’s right to possession of the Premises pursuant to this Subsection 19.2(a), then Landlord may recover from Tenant:
(i) The worth, worth at the time of award, the award of the unpaid Rent that has rent which had been earned at the time of the termination of this Lease;termination; plus
(iib) The worth, worth at the time of award, the award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iiii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of the award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; andplus
(ivii) Any other amount amounts necessary to compensate the Landlord for all of the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease which in the ordinary course of things would be likely to result therefrom, including, but not limited towithout limitation, any legal expenses, brokers commissions or finders fees (in connection with reletting the Premises and the pro rata portion of any leasing commission paid by Landlord in connection with this Lease which is applicable to the portion of the Term, including option periods, which is unexpired as of the date on which this Lease terminated), the costs of repairs, cleanup, refurbishing, removal and expenses storage or disposal of Tenant’s personal property, equipment, fixtures and anything else that Tenant is required under this Lease to remove but does not remove (including attorneys' feesthose alterations which Tenant is required to remove pursuant to an election by Landlord and Landlord actually removes whether or not notice to remove shall be delivered to Tenant), and any costs for alterations, additions and renovations incurred by Landlord in regaining possession of and reletting (or attempting to relet) the Premises. Tenant shall also reimburse Landlord for the pro rata portion of leasehold improvement costs paid by Landlord to install leasehold improvements on the Premises which is applicable to that portion of the Term including any option periods which is unexpired as of the date of this Lease discounted to present value. All computations of the “worth at the time of the award” of amounts recoverable by Landlord under Subsections (i) and (ii) hereof shall be computed by allowing interest at the maximum lawful contract rate per annum. The “worth at the time of the award” recoverable by Landlord under Subsection (iii) and the discount rate for purposes of determining any amounts recoverable under Subsection (iv), if applicable, shall be computed by discounting the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank of California San Francisco at the time of the award plus one percent (1%). If Tenant tenders to Landlord sums in an offer of settlement of payment of any sums due under this Subsection 19.2(a) after Landlord has notified Tenant of exercise of the remedies under this Subsection 19.2(a), then the “worth at the time of the award” shall be determined at the time a lawful tender of payment of the entire amount of such sums by Tenant.
(c) Upon termination of this Lease, whether by lapse of time or otherwise. Tenant shall immediately vacate the Premises and deliver possession to Landlord. If Tenant has vacated the Premises and Landlord or any of its agents have reason to believe that Tenant does not intend to reoccupy the Premises, and current or past rent has been due or unpaid for at least fourteen (14) consecutive days, then Landlord shall have the right to send Tenant a notice of belief of abandonment pursuant to Section 1951.3 of the California Civil Code. The Premises will be deemed abandoned, and the Tenant’s right to possession of the Premises will terminate on the date set forth in such notice, unless Landlord receives (at its address for notices set forth in this Lease) before such date a notice from Tenant stating (i) Tenant’s intent not to abandon the Premises, and (ii) an address at which Tenant may be served in any action for unlawful detainer of the Premises and/or damages and other relief available at law or in equity. If the Premises are deemed abandoned (either through the aforementioned procedure or due to any statement by Tenant to that effect) or if Landlord or any of its agents acts pursuant to a court costsorder, advertising then Landlord or any of its agents shall have the right, without terminating this Lease, to re-enter the Premises and remove all persons therefrom and any or all of Tenant’s fixtures, equipment, furniture and other personal property (herein collectively referred to as “Property”) from the Premises, without being deemed in any manner liable for trespass, eviction, or forceable entry or detainer, or conversion of Property, and without relinquishing any right given to Landlord under this Lease or by operation of law. If Landlord re-enters the Premises in such situation, all Property removed from the Premises by Landlord or any of its agents and not claimed by the owner may be handled, removed, or stored, in a commercial warehouse or otherwise by Landlord at Tenant’s risk and expense, and Landlord shall in no event be responsible for the value, preservation or safekeeping thereof. Before retaking of any such Property from storage, Tenant shall pay to Landlord, upon demand, all expenses incurred in such removal and all storage charges against such Property. Any such Property of Tenant not so retaken from storage by Tenant within thirty (30) days after such Property is removed from the Premises shall be deemed abandoned and may be either disposed of by Landlord pursuant to Section 1988 of the California Civil Code or retained by Landlord as its own property.
(d) Notwithstanding Landlord’s right to terminate this Lease pursuant to Section 19.2(a), Landlord may, at its option, even though Tenant has breached this Lease and abandoned the Premises, continue this Lease in full force and effect and not terminate Tenant’s right to possession, and enforce all of Landlord’s rights and remedies under this Lease, including the right to recover rent as it becomes due under this Lease pursuant to Section 1951.4 of the California Civil Code. In such event Landlord shall be entitled to recover from Tenant all costs of maintenance and brokers' commissions) of recovering possession preservation of the Premises, removing persons or property therefromand all costs, placing including attorneys fees and receivers fees, incurred in connection with appointment of and performance by a receiver to protect the Premises and Landlord’s interest under this Lease. No reentry or taking possession of the Premises by Landlord pursuant to this Section 19.2(c) shall be construed as an election to terminate this Lease unless a written notice (signed by a duly authorized representative of Landlord) of intention to terminate this Lease is given to Tenant. Landlord may at any time after default by Tenant elect to terminate this Lease pursuant to Section 19.2(a), notwithstanding Landlord’s prior continuance of this Lease in good ordereffect for any period of time, condition and repairupon and after Tenant’s default under this Lease, preparing Landlord may, but need not, relet the Premises or any part thereof for the account of Tenant to any person, firm, partnership, corporation or other business entity for such rent, for such time and altering upon such terms as Landlord, in its sole discretion, shall determine. Subject to the provisions of this Lease regarding assignment and subletting in Article 20, Landlord shall not be required to accept any substitute tenant offered by Tenant or to observe any instructions given by Tenant regarding such reletting. Landlord may remove (and repair any damage caused by such removal) and store (or dispose of) any of Tenant’s personal property, equipment, fixtures, and anything else Tenant is required (under this Lease at the election of Landlord or otherwise) to remove but does not remove, and Landlord may also make repairs, renovations, alterations and/or additions to the Premises to the extent deemed by Landlord necessary or desirable in connection with any attempt to relet the Premises. Tenant shall upon demand pay the cost of such repairs, alterations, additions, removal, storage and renovations, together with any legal expenses, brokers commissions or finders fees and any other expenses incurred by Landlord in connection with entry of the Premises and attempting to relet the Premises. If Landlord is able to relet the Premises for Tenant’s account during the remaining portion of the Term and the consideration collected by Landlord from any reletting is not sufficient to pay monthly the full amount of rent and additional rent payable by Tenant under this Lease, together with any legal expenses, brokers commissions or finders fees, any cost for repairs, alterations, additions, removal, storage and renovations, and any other cost and expense incurred by Landlord in re-entering the Premises and reletting the Premises, then Tenant shall pay to Landlord the amount of each monthly deficiency upon demand. Any rentals received by Landlord from any such reletting shall be applied as follows:
(i) First, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord;
(ii) Second, to the payment of any costs of reentry and reletting the Premises;
(iii) Third, to the payment of costs of any such alterations, repairs, additions, removal, storage and renovations to the Premises;
(iv) Fourth, to the payment of rent due and unpaid under this Lease; and
(v) The residue, if any, shall be held by Landlord and applied as payment of future rent as the same may become due and payable under this Lease.
(e) No act or omission by Landlord or its agents during the Term shall be an acceptance of a surrender of the Premises and no agreement to accept a surrender of the Premises shall be valid unless made in writing and signed by a duly authorized representative of Landlord. Neither any remedy set forth in this Lease nor pursuit of any particular remedy shall preclude Landlord from any other remedy set forth in this Lease or otherwise available at law or in equity. Landlord shall be entitled to a restraining order or injunction to prevent Tenant from breaching or defaulting under any of its obligations under this Lease other than the payment of rent or other sums due hereunder.
(f) Neither the termination of this Lease nor the exercise of any remedy under this Lease or otherwise available at law or in equity shall affect the right of Landlord to any right of indemnification set forth in this Lease or otherwise available at law or in equity for any act or omission of Tenant, and all rights to indemnification or other costs obligations of Tenant are intended to be performed after termination of this Lease shall survive termination of this Lease and expenses termination of relettingTenant’s right to possession under this Lease.
Appears in 1 contract
Landlord’s Remedies. In the event of an Upon any Event of Default under Section 10.01 then LandlordDefault, Landlord shall have, in addition to any other rights remedies available to Landlord at law or in equity (which shall be cumulative and nonexclusive), the option to pursue any one or more of the following remedies it (which shall be cumulative and nonexclusive) without any notice or demand:
18.2.1 Landlord may have at lawterminate this Lease, in equity or otherwise, which event Tenant shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of immediately surrender the Premises by giving written notice of termination to Tenant. No act by Landlord, and if Tenant fails to do so, Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachmay, in addition without prejudice to any other remedy it may havehave for possession or arrearages in Rent, it is hereby agreed by enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
following: (ia) The worth, the worth at the time of award, award of the unpaid Rent that has which had been earned at the time of such termination; (b) the termination of this Lease;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iiic) The worth, the worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount fair market rental value of the loss of Rent that Tenant proves could be reasonably avoidedPremises; and
(ivd) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations hereunder or which in the ordinary course of things would be likely to result therefrom, includingincluding brokerage commissions, but not limited toadvertising expenses, expenses of remodeling any portion of the Premises for a new tenant (whether for the same or a different use), and any special concessions made to obtain a new tenant (“Costs of Reletting”); plus (e) at Landlord’s option, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by law. As used in subsection (a) and subsection (b) above, the costs “worth at the time of award” shall be computed by allowing interest at a rate per annum equal to the lesser of (i) the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release Publication H.15 (or such other comparable index as Landlord shall reasonably designate if such rate ceases to be published) plus 2 percentage points, or (ii) the highest rate permitted by Applicable Laws. As used in subsection (c) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.
18.2.2 If Landlord does not elect to terminate this Lease on account of any Event of Default by Tenant, then Landlord may, from time to time, without terminating this Lease, terminate Tenant’s right to possession of the Premises and, in compliance with Applicable Laws, remove Tenant, Tenant’s Property and expenses any parties occupying the Premises. Landlord may (including attorneys' fees, court costs, advertising costs and brokers' commissionsbut shall not be obligated to) of recovering possession relet all or any part of the Premises, removing persons without notice to Tenant, for such period of time and on such terms and conditions (which may include concessions, free rent and work allowances) as Landlord in its absolute discretion shall determine. Landlord may collect and receive all rents and other income from the reletting, which shall be applied to amounts owed by Tenant hereunder. Tenant shall pay Landlord on demand all past due Rent, all Costs of Reletting and any deficiency arising from the reletting or property therefromfailure to relet the Premises. In the event of reletting without termination of this Lease, placing Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Notwithstanding anything to the contrary in this Lease, Landlord shall use commercially reasonable efforts to relet the Premises in good orderorder to mitigate its damages hereunder, condition and repair, preparing and altering but Landlord shall not be required to prefer the Premises over other space available for reletting and all other costs and lease in the Project.
18.2.3 Landlord may, at Landlord’s option, without any obligation to do so, cure an Event of Default by Tenant. Tenant agrees to pay Landlord an amount equal to 105% of any expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease, including without limitation, reasonable attorney’s fees, together with interest thereon at the Applicable Interest Rate from the date of relettingexpenditure until paid.
Appears in 1 contract
Samples: Single Tenant Triple Net Lease (Prelude Therapeutics Inc)
Landlord’s Remedies. In Upon the event occurrence of an Event of Default under Section 10.01 then Default, and after the expiration of any applicable cure period, Landlord, in addition to any other rights or remedies it may have available to Landlord at law, law or in equity or otherwiseequity, shall have the following rights:remedies set forth in this Article 20. The remedies are not exclusive but cumulative.
(a) Landlord shall have the right to may terminate this Lease and Tenant's right to possession all rights of the Premises Tenant by giving Tenant written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate that this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachis terminated, in addition to any other remedy it which case Landlord may have, it is hereby agreed by Landlord and recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationsum of:
(i) The worth, the worth at the time of award, award of the any unpaid Rent that has had been earned at the time of the termination of this Leasetermination;
(ii) The worth, the worth at the time of award, award of the amount by which (A) the unpaid Rent that would have been earned after the date of termination of this Lease until the time of award exceeds (B) the amount of the loss of Rent rental loss, that Tenant proves could have been reasonably avoided;
(iii) The worth, the worth at the time of award, award of the amount by which (A) the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds (B) the amount of the loss of Rent rental loss, that Tenant proves could be reasonably avoided; and;
(iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform Tenant’s obligations or that, in the ordinary course of things, would be likely to result, including, but not limited to, brokerage commissions, advertising expenses, costs of remodeling the Leased Premises, or any portion of the Leased Premises, for a new tenant or tenants, and any special concessions made to obtain a new tenant or tenants; and
(v) all other amounts in addition to or in lieu of those previously stated as may be permitted from time to time by California law. As used in clauses (i) and (ii) of this Section 20.1(a), the worth at the time of award is computed by allowing interest at the rate set forth in Part III, Section 22.2. As used in clause (iii) of this Section 20.1(a), the worth at the time of award is computed by discounting that amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.
(b) Landlord may continue this Lease, and from time to time, without terminating this Lease, either (i) recover all Rent and other amounts payable as they become due or (ii) relet the Leased Premises or any part of the Leased Premises on behalf of Tenant for any term, at any reasonable Rent, and pursuant to any other provisions as Landlord deems advisable, all with the right, at Tenant’s cost, to make reasonable alterations and necessary repairs to the Leased Premises. Tenant acknowledges that in the event of any such reletting of the Leased Premises, Landlord shall be entitled to recover its reasonable costs and expenses (incurred in such reletting, including without limitation, brokers’ commissions, attorneys' ’ fees, court advertising costs, advertising costs and brokers' commissions) of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of remodeling the Leased Premises for such reletting. The parties agree that Landlord is to have the remedy described in California Civil Code Section 1951.4 (which effectively provides that a lessor may continue a lease in effect after the lessee’s breach and recover rent as it becomes due), and the Tenant hereby acknowledges that this Lease meets the requirements of such statutory provision and that Tenant’s rights to sublet or assign hereunder are subject only to reasonable limitations.
(c) Upon the occurrence of an Event of Default, Landlord shall also have the right, with or without terminating this Lease, to re-enter the Leased Premises and remove all persons and property from the Leased Premises after giving Tenant “reasonable notice” under the circumstances of its intent to do so. As used in this Section 20.1(c), “reasonable notice” shall be no longer than 10 days. Landlord may cause property so removed from the Leased Premises to be stored in a public warehouse or elsewhere at the expense and for the account of Tenant and to be disposed of in accordance with the provisions of applicable law at Tenant’s expense.
Appears in 1 contract
Samples: Lease (Marvel Entertainment, Inc.)
Landlord’s Remedies. In Upon the event occurrence of an any Event of Default under Section 10.01 then Landlordand at any time thereafter, Landlord may, at its election, exercise any one or more of the following described remedies, in addition to any all other rights or and remedies it may have provided at law, in equity or otherwise, shall have the following rightselsewhere herein:
(a) A. Landlord shall have the right immediate option to terminate this Lease and all rights of Tenant hereunder by giving Tenant written notice of such intention to terminate, 992596_11 20 in which event Landlord may recover from Tenant all of the following: (i) the worth at the time of award of any unpaid rent which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves reasonably could have been avoided; plus (iii) the worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves reasonably could be 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, including, but not limited to: attorneys' fees; brokers' commissions; the costs of refurbishment, alterations, renovation and repair of the Premises; and removal (including the repair of any damage caused by such removal) and storage (or disposal) of Tenant's Property, equipment, fixtures, alterations and any other items which Tenant is required under this Lease to remove but does not remove; plus (v) at Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable California law. As used in (i) and (ii) above, the "worth at the time of award" shall be computed by allowing interest at the lesser of twelve percent (12%) per annum or the maximum lawful rate of interest permitted by applicable law. As used in (iii) above, the "worth at the time award" shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
B. Landlord shall also have the right, with or without terminating this Lease, to re-enter the Premises and remove all persons and property from the Premises. Subject to the terms of any agreement between Landlord, Tenant and Tenant's lender, such property may be removed and stored in a public warehouse or elsewhere at the cost of and for the account of Tenant.
C. In the event Landlord elects to re-enter the Premises under Section 21.1.B above or takes possession of the Premises pursuant to any proceedings or notice provided by law or Tenant vacates or abandons the Premises, but Landlord does not elect to terminate this Lease as provided in this Section 21.1, Landlord may from time to time without terminating this Lease either recover from Tenant all Rent as it becomes due (pursuant to California Civil Code Section 1951.4) and Landlord shall take commercially reasonable efforts to relet the Premises or any part thereof upon such terms and conditions as Landlord in its sole discretion may deem advisable, with the right of Landlord to make alterations and repairs to the Premises. In the event of any such reletting, rental and other charges received by Landlord therefrom shall be applied in the following order: (i) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord, (ii) to the payment of all costs of such reletting, (iii) to the payment of the costs of any alterations and repairs to the Premises, and (iv) the payment of Rent and other charges due and unpaid hereunder. The residue, if any, shall be held by Landlord and applied in payment of future Rent and other charges due hereunder, as the same may become due, or returned to Tenant at the end of the Term. In the event the rental and other charges received by Landlord from all such reletting are at any time less than the then aggregate of (i) through (iv) above, Tenant 992596_11 21 shall pay such deficiency to Landlord immediately upon demand therefor, but not more often than monthly.
D. No re-entry or taking possession of the Premises by giving Landlord pursuant to this Section 21.1 shall be construed as an election to terminate this Lease unless a written notice of such intention shall be given to Tenant or unless such termination shall be decreed by a court of competent jurisdiction and Landlord may enforce all of Landlord's rights and remedies hereunder, without limitation, the remedy described in California Civil Code Section 1951.4 (lessor may continue the lease in effect after lessee's breach and abandonment and recover rent as it becomes due, if lessee has the right to sublet or assign, subject only to reasonable limitations). Notwithstanding any reletting without termination by Landlord because of any default by Tenant, Landlord may at any time after such reletting elect to terminate this Lease for any such default.
E. In any action for unlawful detainer commenced by Landlord against Tenant by reason of any Event of Default, the reasonable rental value of the Premises for the periods of the unlawful detainer shall be the amount of Rent reserved in this Lease for such period, unless Landlord or Tenant shall provide to the contrary by competent evidence. The rights and remedies reserved to Landlord herein, including those not specifically described, shall be cumulative, and except as otherwise provided by then applicable California law, Landlord may pursue any or all of such rights and remedies at the same time or otherwise. No such re-entry or taking of possession of the Premises by Landlord shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of such intention signed by or on behalf of Landlord is given to Tenant. No act by Notwithstanding any such reletting without termination, Landlord other than giving express written notice may at any time thereafter elect to Tenant shall terminate this Lease or for a previous Event of Default by Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachEvent of Default, in addition to any other remedy it remedies Landlord may have, it is hereby agreed by Landlord and may recover from Tenant that the all damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, at the time may incur by reason of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) 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 this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breachsuch default, including, but not limited to, the costs cost of recovering the Premises and expenses (including reasonable attorneys' fees, court costs, advertising costs all of which amounts shall be immediately due and brokers' commissions) payable from Tenant to Landlord. Pursuit of recovering possession any of the Premisesforegoing remedies shall not preclude pursuit of any of the other remedies herein provided or any other remedies provided by law or in equity, removing persons nor shall pursuit of any remedy herein or property therefromotherwise provided constitute a forfeiture or waiver of any Rent due to Landlord hereunder or of any damages accruing to Landlord by reason of the violation of any of the terms, placing provisions or covenants herein contained. The loss or damage that Landlord may suffer by reason of termination of this Lease or the Premises in good order, condition deficiency from any repossession and/or reletting as provided for above shall include the expense of repossession and repair, preparing any repairs or remodeling undertaken by Landlord following repossession. All interest and altering any late charges imposed pursuant to this Lease shall be considered Additional Rent due from Tenant under the Premises for reletting and all other costs and expenses terms of relettingthis Lease.
Appears in 1 contract
Samples: Lease Agreement (Dixie Group Inc)
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then Landlordand so long as such Event of Default shall be continuing, in addition to Landlord may at any other rights or remedies it may have time thereafter at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall 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 formal demand or notice of any kind, to possession re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to 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. Should Landlord at any time terminate Except as otherwise provided in the next paragraph, if Tenant breaches this Lease for any breachand abandons the Premises prior to the end of the term hereof, in addition or if Tenant's right to any other remedy it may have, it possession is hereby agreed terminated by Landlord and because of an Event of Default by Tenant that the damages Landlord shall be entitled to recover under this Lease, this Lease shall include without limitation:
terminate. Upon such termination, Landlord may recover from Tenant the following: (i) The worth, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, of the amount award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any any other amount necessary necessary' to compensate Landlord for all the detriment proximately caused by Tenant's breach, including, but not limited tofailure 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 costs following terms are defined: (a) the "worth at the time of award" of the amounts referred to in Sections (i) and expenses (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 attorneys' feesfractional parts thereof, court costs, advertising costs between the date of termination and brokers' commissionsthe time of award. The "reasonable value" of the amount referred to in clause (iii) is computed by determining the mathematical product of recovering possession (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, removing persons or property therefrom, placing which such abandonment of the Premises would constitute an Event of Default under Paragraph 23(iv) of this Lease, this Lease shall continue in good ordereffect for so long as Landlord does not terminate Tenant's right to possession, condition and repairLandlord may enforce all its rights and remedies under this Lease, preparing 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 altering 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. Notwithstanding anything contained herein to the Premises for reletting contrary, if Landlord terminates Tenant's right to 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 tenant proposed by Tenant, (b) Landlord shall have the right to lease any other space controlled by Landlord first, and (c) any proposed tenant shall meet all other costs and expenses of relettingLandlord's leasing criteria.
Appears in 1 contract
Samples: Lease Agreement (Celerity Group Inc)
Landlord’s Remedies. In Upon the event occurrence of an Event any default set forth in Section 32 above which is not cured by Tenant within the applicable cure period provided therein, if any, Landlord may exercise all or any of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rightsremedies:
(a) terminate this Lease by giving Tenant written notice of termination, in which event this Lease shall terminate on the date specified in such notice and all rights of Tenant under this Lease shall expire and terminate as of such date, Tenant shall remain liable for all obligations under this Lease up to the date of such termination and Tenant shall surrender the Premises to Landlord shall on the date specified in such notice; and if Tenant fails to so surrender, Landlord shall, as and to the extent permitted by applicable Laws, have the right to terminate this Lease enter upon and Tenant's right to take possession of the Premises by giving written notice and to expel and remove Tenant and its effects without being liable for prosecution or any claim of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall damages therefor;
(b) terminate this Lease or Tenant's right to possession of as provided in the Premises. Should Landlord at any time terminate this Lease for any breach, immediately preceding subsection and recover from Tenant the following damages (as provided in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:California Civil Code Section 1951.2):
(i) The worth, worth at the time of award, award of the unpaid Rent that has and other sums due and payable which had been earned at the time of the termination of this Lease;termination; plus
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that would have been earned and other sums due and payable which after the date of termination of this Lease until the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent and other sums due and payable for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could be reasonably avoided; andplus
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform Tenant’s obligations under this Lease, includingor which, but not limited toin the ordinary course of things, the costs and expenses would be likely to result therefrom; plus
(including attorneys' feesv) At Landlord’s election, court costs, advertising costs and brokers' commissions) of recovering possession such other amounts in addition to or in lieu of the Premisesforegoing as may be permitted from time to time by the laws of the State of California. The “worth at the time of award” of the amounts referred to in Sections 33(b)(i) and 33(b)(ii) is computed by allowing interest at the Default Rate on the unpaid rent and other sums due and payable from the termination date through the date of award. The “worth at the time of award” of the amount referred to in Section 33(b)(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 (1%).
(c) Continue this Lease in effect for so long as Landlord does not terminate Tenant’s right to possession, removing persons in which event Landlord shall have all of its rights and remedies, including the right, pursuant to California Civil Code Section 1951.4, to recover all rent as it becomes due under this Lease, so long as Tenant has the right to sublet or property therefromassign, placing the Premises subject only to reasonable limitations.
(d) pursue such other remedies as are available at law or in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingequity.
Appears in 1 contract
Samples: Industrial/R&d Lease Agreement (TNAV Holdings, Inc.)
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then 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, in addition without formal demand or notice of any kind, to re-enter the Premises by summary dispossession proceedings or any other rights action or remedies it may have at lawproceeding authorized by law and to remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate 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 ’s right to possession of the Premises by giving written notice of termination to Tenant. No act is terminated by Landlord other than giving express written notice to because of an Event of Default by Tenant shall terminate under this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachLease, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
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, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, of the amount award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's ’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, includingand 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, but 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, are not limited to, restricted to their technical legal meanings. Any reletting of the costs Premises shall be on such terms and expenses conditions as Landlord in its sole discretion may determine (including attorneys' feeswithout limitation a term different than the remaining Lease Term, court costsrental concessions, advertising costs alterations and brokers' commissions) of recovering possession repair of the Premises, removing persons lease of less than the entire Premises to any tenant and leasing any or property therefromall other portions of the Project before reletting the Premises). Landlord shall not be liable, placing nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or collect rent due in good order, condition and repair, preparing and altering respect of such reletting; provided that Landlord has made commercially reasonable efforts to relet the Premises for reletting and otherwise mitigate its damage; provided, however, (a) Landlord shall not be obligated to accept any tenant proposed by Tenant, (b) Landlord shall have the right to lease any other space controlled by Landlord first, and (c) any proposed tenant shall meet all other costs and expenses of relettingLandlord’s leasing criteria.
Appears in 1 contract
Landlord’s Remedies. In (a) Upon the event occurrence of an Event of Default under Section 10.01 then this Lease, Landlord, in addition to at its option, and without limiting the exercise of any other rights right or remedies it remedy Landlord may have at on account of such Event of Default, and without any further demand or notice, may give to Tenant 3 days’ notice of termination of this Lease, in which event this Lease and the Lease Term shall come to an end and expire (whether or not the Term shall have commenced) upon the expiration of such 3 day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Leased Premises to Landlord, but Tenant shall remain liable for damages as provided in this Paragraph 12.2, and/or, to the extent permitted by law, in equity Landlord may remove all persons and property from the Leased Premises, which property shall be stored by Landlord at a warehouse or otherwiseelsewhere at the risk, shall have expense and for the following rights:
(a) account of Tenant. If Landlord shall have the right elects to terminate this Lease and Tenant's right Lease, pursuant to possession Section 1951.2 of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachCalifornia Civil Code, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfrom Tenant the aggregate of:
(i) The worth, worth at the time of award, award of the unpaid Rent that has been rent earned at as of the time date of the termination of this Leasehereof;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease hereof until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease or which, includingin the ordinary course of things, but not limited towould be likely to result therefrom. For the purposes of this Paragraph 12.2, “rent” shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others, the costs “time of award” shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of such default is entered or such earlier date as the court may determine; the “worth at the time of award” of the amounts referred to in subparagraphs (i) and expenses (ii) above shall be computed by allowing interest on such amounts at the then maximum rate of interest not prohibited or made usurious by law; and the “worth at the time of award” of the amount referred to in subparagraph (iii) shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1% per annum. Tenant agrees that such charges shall be recoverable by Landlord under California Code of Civil Procedure Section 1174(b) or any similar, successor or related provision of law.
(b) Upon the occurrence of an Event of Default under this Lease, in addition to any other remedies available to Landlord at law or in equity or under this Lease, Landlord shall have 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 the right to sublet or assign, subject only to reasonable limitations). If Landlord does not elect to terminate this Lease for any reason, Landlord may, from time to time, enforce all of its rights and remedies under this Lease, including attorneys' feesthe right to recover all Rent as it becomes due. Such remedy may be exercised by Landlord without prejudice to its right thereafter to terminate this Lease in accordance with the other provisions contained in this Paragraph. Landlord’s reentry to perform acts of maintenance or preservation of, court costsor in connection with efforts to relet, advertising costs and brokers' commissions) the Premises, or any portion thereof, or the appointment of recovering a receiver upon Landlord’s initiative to protect Landlord’s interest under this Lease shall not terminate Tenant’s right to possession of the PremisesLeased Premises or any portion thereof and, removing persons until Landlord elects to terminate this Lease, this Lease shall continue in full force and Landlord may pursue all its remedies hereunder. Nothing in this Paragraph shall be deemed to affect Landlord’s right to indemnification, under the indemnification clauses contained in this Lease, for losses arising from events occurring prior to the termination of this Lease.
(c) All rights, powers and remedies of Landlord hereunder and under any other agreement now or hereafter in force between Landlord and Tenant shall be cumulative and not alternative and shall be in addition to all rights, powers and remedies given to Landlord at law or in equity. The exercise of any one or more of such rights or remedies shall not impair Landlord’s right to exercise any other right or remedy including any and all rights and remedies of Landlord under California Civil Code Section 1951.8, California Code of Civil Procedure Section 1161 et seq., or any similar, successor or related Law.
(d) If, after the expiration or earlier termination of the Lease, Tenant leaves behind any of Tenant’s property, then Landlord shall store such Tenant’s property therefromat a warehouse or any other location at the risk, placing expense and for the Premises in good orderaccount of Tenant, condition and repairsuch property shall be released only upon Tenant’s payment of such charges, preparing together with moving and altering the Premises for reletting other costs relating thereto and all other costs sums due and expenses owing under this Lease. If Tenant does not reclaim such Tenant’s property within the period permitted by Law, Landlord may sell such Tenant’s property in accordance with Law and apply the proceeds of reletting.such sale to any sums due and owing hereunder, or
Appears in 1 contract
Samples: Office Lease (Cortina Systems Inc)
Landlord’s Remedies. In If any default by Tenant shall occur, and following notice of default as required by this Lease (for the event period applicable to the default under the applicable provision of an Event of Default under Section 10.01 then Landlordthis Lease), in addition to any other rights or remedies it may have at law, in equity or otherwise, Landlord shall have the following rightsremedies in addition to all other rights and remedies provided by law or equity, to which Landlord may resort cumulatively or in the alternative.
(1) Landlord shall have the immediate option to terminate this Lease and all rights of Tenant hereunder by giving written notice of such intention to terminate. In the event that Landlord shall so elect to terminate this Lease, then Landlord may recover from Tenant:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, worth at the time of award, award of the any unpaid Rent that has rent which had been earned at the time of the termination of this Lease;such termination; plus
(iib) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iiic) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; andplus
(ivd) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(e) At Landlord's election, including, but not limited tosuch other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law. As used in Subparagraphs (a) and (b) above of this Section, the "worth at the time of award" is computed by allowing interest at the maximum rate an individual is permitted by law to charge. As used in subparagraph (c) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(2) In the event of the vacation or abandonment of the Premises by Tenant, or in the event that Landlord shall elect to reenter as provided herein or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then Landlord shall have the remedy specified by Civil Code Section 1951.4, in which Landlord may from time to time recover all rental as it becomes due or relet the Premises or any part thereof for the account of Tenant on such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect so to relet, then rentals received by Landlord from such reletting shall be applied first, to the payment of any indebtedness, other than rent due hereunder, owed by Tenant to Landlord; second, to the payment of any cost (including commissions) of such reletting; third, to the payment of the cost of any alterations and repairs to the Premises; fourth, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of rent hereunder, be less than the rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord upon demand. Tenant shall also pay to Landlord, as soon as ascertained, any and all costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
(including attorneys' fees, court costs, advertising costs and brokers' commissions3) of recovering No reentry or taking possession of the Premises, removing persons Premises by Landlord pursuant to this Section shall be construed as an election to terminate this Lease unless a written notice of such intention be given to Tenant or property therefrom, placing unless the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses termination thereof be decreed by a court of relettingcompetent jurisdiction.
Appears in 1 contract
Samples: Commercial Lease Agreement
Landlord’s Remedies. In the event of an Event any breach of Default under this Lease by Tenant, Landlord, at its option, and after the proper notice and cure period, if any, as provided in Section 10.01 then Landlord21.4 has expired, without further notice or demand to Tenant, may, in addition to any all other rights and remedies provided in this Lease, or remedies it may have otherwise at law, law or in equity or otherwise, shall have the following rights:
equity: (a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, at the time of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) 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 this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession of the Premises, removing persons and recover all damages to which Landlord is entitled under law, specifically including, without limitation, accelerated Base Rent and Additional Rent attributable to the balance of the Term, and all Landlord's expenses of reletting (including repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions), or property (b) terminate Tenant's right of 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 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 it 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 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, placing 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, or if the Premises have been relet, Tenant shall pay any such deficiency monthly. 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 good orderfavor of Landlord. In the event Landlord elects, condition pursuant to Subsection (b) of this Section 22.1, 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 repairother evidences of tenancy, preparing and altering take and hold possession thereof, as provided in Article 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 reletting the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all other costs expenses incurred in such removal and expenses 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 relettingTenant 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 xxxx of sale, without further payment or credit by Landlord to Tenant. Tenant hereby grants to Landlord a first lien upon the interest of Tenant under this Lease to secure the payment of moneys due under this Lease, which lien may be enforced in equity; and Landlord shall be entitled as a matter of right to have a receiver appointed to take possession of the Premises and relet the same under order of court.
Appears in 1 contract
Landlord’s Remedies. In (a) Upon the event occurrence of an Event of Default under Section 10.01 then Default, Landlord, in addition to at its option, and without limiting the exercise of any other rights right or remedies it remedy Landlord may have at on account of such Event of Default, and without any further demand or notice, may give to Tenant 3 days' notice of termination of this Lease, in which event this Lease and the Term shall come to an end and expire (whether or not the Term shall have commenced) upon the expiration of such 3 day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 16, and/or, to the extent permitted by law, in equity Landlord may remove all persons and property from the Premises, which property shall be stored by Landlord at a warehouse or otherwiseother commercially reasonable location at the risk, shall have expense and for the following rights:account of Tenant.
(ab) If Landlord shall have the right elects to terminate this Lease and Tenant's right Lease, pursuant to possession Section 1951.2 of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachCalifornia Civil Code, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfrom Tenant the aggregate of:
(i) The worth, worth at the time of award, award of the unpaid Rent that has been and charges equivalent to Rent earned at as of the time date of the termination of this Leasehereof;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that and charges equivalent to Rent which would have been earned after the date of termination of this Lease hereof until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent and charges equivalent to Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and;
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which, includingin the ordinary course of things, but not limited towould be likely to result therefrom; and
(v) Any other amount which Landlord may hereafter be permitted to recover from Tenant to compensate Landlord for the detriment caused by Tenant's default. For the purposes of this Section 16.2(b), the costs and expenses (including attorneys' fees, "time of award" shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of such Event of Default is entered or such earlier date as the court costs, advertising costs and brokers' commissions) may determine; the "worth at the time of recovering possession award" of the Premisesamounts referred to in Sections 16.2(b)(i) and 16.2(b)(ii) shall be computed by allowing interest on such amounts at the Interest Rate; and the "worth at the time of award" of the amount referred to in Section 16.2(b)(iii) shall be 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 per annum. Tenant agrees that such charges shall be recoverable by Landlord under California Code of Civil Procedure Section 1174(b) or any similar, removing persons successor or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses related provision of relettinglaw.
Appears in 1 contract
Samples: Lease (Cmgi Inc)
Landlord’s Remedies. In the event of an Upon any Event of Default under Section 10.01 then LandlordDefault, Landlord shall have, in addition to any other rights remedies available to Landlord at law or in equity (which shall be cumulative and nonexclusive), the option to pursue any one or more of the following remedies it (which shall be cumulative and nonexclusive) without any notice or demand:
18.2.1 Landlord may have at lawterminate this Lease, in equity or otherwise, which event Tenant shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of immediately surrender the Premises by giving written notice of termination to Tenant. No act by Landlord, and if Tenant fails to do so, Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachmay, in addition without prejudice to any other remedy it may havehave for possession or arrearages in Rent, it is hereby agreed by enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
following: (ia) The worth, the worth at the time of award, award of the unpaid Rent that has which had been earned at the time of such termination; (b) the termination of this Lease;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iiic) The worth, the worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could be reasonably avoided; and
(ivd) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's ’s failure to perform its obligations hereunder or which in the ordinary course of things would be likely to result therefrom, including brokerage commissions, advertising expenses, expenses of remodeling any portion of the Premises for a new tenant (whether for the same or a different use), and any special concessions made to obtain a new tenant; plus (e) at Landlord’s option, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by law. As used in subsection (a) and subsection (b) above, the “worth at the time of award” shall be computed by allowing interest at a rate per annum equal to the lesser of (i) the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release Publication G.13(415), published on the first Tuesday of each calendar month (or such other comparable index as Landlord shall reasonably designate if such rate ceases to be published) plus two (2) percentage points, or (ii) the highest rate permitted by Law. As used in subsection (c) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.
18.2.2 If Landlord does not elect to terminate this Lease on account of any Event of Default by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover all Rent as it becomes due.
18.2.3 Continue this Lease in effect, but terminate Tenant’s right to possession of the Premises and re-enter the Premises and take possession thereof, whereupon Tenant shall have no further claim to the Premises without the same constituting an acceptance of surrender.
18.2.4 Landlord may relet the Premises without thereby avoiding or terminating this Lease (if the same has not been previously terminated), and Tenant shall remain liable for any and all Rent and other charges and expenses hereunder. For the purpose of reletting, Landlord is authorized to make such repairs or alterations to the Premises as may be necessary in the sole discretion of Landlord for the purpose of such reletting, and if a sufficient sum is not realized from such reletting (after payment of all costs and expenses of such repairs, alterations and the expense of such reletting (including, without limitation, reasonable attorney and brokerage fees) and the collection of rent accruing therefrom) each month to equal the Rent, then Tenant shall pay such deficiency each month upon demand therefor. Actions to collect such amounts may be brought from time to time, on one or more occasions, without the necessity of Landlord’s waiting until the expiration of the Term.
18.2.5 Landlord shall at all times have the rights and remedies (which shall be cumulative with each other and cumulative and in addition to those rights and remedies available under Section 18.2.1 and Section 18.2.2, or any law or other provision hereof), without prior demand or notice except as required by law, to seek any declaratory, injunctive or other equitable relief, and specifically enforce this Lease, or restrain or enjoin a violation or breach of any provision hereof, without the necessity of proving the inadequacy of any legal remedy or irreparable harm.
18.2.6 To the extent permitted by Applicable Laws, Landlord shall have the right, without notice to Tenant, to change or re-key all locks to entrances to the Premises, and Landlord shall have no obligation to give Tenant notice thereof or to provide Tenant with a key to the Premises.
18.2.7 Unless Landlord provides Tenant with express notice to the contrary, no re-entry, repossession, repair, maintenance, change, alteration, addition, reletting, appointment of a receiver or other action or omission by Landlord shall (a) be construed as an election by Landlord to terminate this Lease or Tenant’s right to possession, or to accept a surrender of the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Tenant waives, for Tenant and for all those claiming by, through or under Tenant, by order or judgment of any court or by any legal process or writ, this Lease or Tenant’s right of occupancy of the Premises after any termination hereof.
18.2.8 If Landlord elects to cure such Event of Default by Tenant, Landlord may, at Landlord’s option, enter into and upon the Premises and correct the same without being deemed in any manner guilty of trespass, eviction or forcible entry and detainer and without incurring any liability for any damage or interruption of Tenant’s business resulting therefrom. If any lien is filed and not cured within the fifteen (15) day time period set forth above, then Landlord may take such action as may be necessary to remove such lien. Tenant agrees to pay Landlord an amount equal to one hundred ten percent (110%) of any expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease, including without limitation, attorney’s fees, together with interest thereon at the Applicable Interest Rate from the date of expenditure.
18.2.9 Exercise by Landlord of any one (1) 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 except as provided in Section 18.2.1 and Section 18.2.2 above, 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 (1) or more of its rights in connection with any subsequent Event of 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 also 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, are not restricted to their technical legal meanings. Any reletting of the Premises shall be on such terms and conditions as Landlord in its sole discretion may determine (including without limitation a term different than the remaining Term, rental concessions, alterations and repair of the Premises, 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, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or collect rent due in respect of such reletting.
18.2.10 Even if an eviction moratoria exists, to the extent permitted by Applicable Laws, Landlord shall have the right to continue this Lease in effect and bring an action to collect rent due under this Lease (including an action against any guarantors of Tenant's obligations under this Lease) and otherwise exercise Landlord's rights and remedies under this Lease including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) Landlord's right to apply or draw upon any security deposit or letter of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting.credit delivered to Landlord pursuant to this Lease.
Appears in 1 contract
Samples: Multi Tenant Industrial Triple Net Lease (Chardan NexTech Acquisition 2 Corp.)
Landlord’s Remedies. In the event of an Event of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, Landlord shall have the following rights:remedies if APL commits a default. These remedies are not exclusive; they are cumulative in addition to all other remedies now or later available at law or in equity
(a) Landlord shall have the right upon ten (10) days notice (during which time APL may cure the default) to terminate this Lease and Tenant's right to possession all rights of the Premises APL hereunder by giving written notice to APL of termination to Tenantsuch election by Landlord. No act by On termination, Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of may recover the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfollowing from APL:
(i) The worth, the worth at the time of award, the award of the any unpaid Rent that has which had been earned at the time of the termination of this Leasetermination;
(ii) The worth, the worth at the time of award, the award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of the award exceeds the amount of the such rental loss of Rent that Tenant APL proves could have been reasonably avoided;
(iii) The worth, the worth at the time of award, the award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of the award exceeds the amount of the such Rent loss of Rent that Tenant APL proves could be have been reasonably avoided; and;
(iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by TenantAPL's breachdefault or which in the ordinary course of things would be likely to result therefrom; and
(v) at Landlord's election, including, but not limited tosuch other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable California law. As used in subparagraphs (i) and (ii) above, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession "worth at the time of the Premisesaward" is computed by allowing interest at the Default Rate. As used in subparagraph (iii) above, removing persons or property therefromthe "worth at the time of the award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus one percent (1%).
(b) Landlord may continue this Lease in full force and effect, placing and this Lease will continue in effect as long as Landlord does not terminate APL's right to possession, and Landlord shall have the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingright to collect Rent when due.
Appears in 1 contract
Samples: Office Lease (Apl LTD)
Landlord’s Remedies. In the event of (a) If an Event of Default under Section 10.01 by Tenant occurs, then Landlord, in addition to any other rights or remedies it available to Landlord, Landlord may have at law, in equity or otherwise, shall have exercise the following rights:remedies: ThermoGenesis Holdings Inc. Lease
(ai) Landlord shall have the right to may terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to any lawful means, in which case this Lease shall terminate and Tenant shall terminate this Lease or Tenant's right to immediately surrender possession of the PremisesPremises to Landlord. Should Landlord at Such termination shall not affect any time terminate accrued obligations of Tenant under this Lease for any breachLease. Upon termination, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall have the right to reenter the Premises and remove all persons and property. Landlord shall also be entitled to recover under this Lease shall include without limitation:from Tenant (and to retain, use or apply any Security Deposit held by Landlord towards amounts estimated by Landlord as):
(i1) The worth, worth at the time of award, award of the unpaid Basic Rent that has and additional rent which had been earned at the time of the termination of this Leasetermination;
(ii2) The worth, worth at the time of award, award of the amount by which the unpaid Basic Rent that and additional rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such loss of Rent that Tenant proves could have been reasonably avoided;
(iii3) The worth, worth at the time of award, award of the amount by which the unpaid Basic Rent and additional rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the which loss of Rent that Tenant proves could be reasonably avoided; and;
(iv4) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result from Tenant's Event of Default, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) cost of recovering possession of the Premises, removing persons or property therefromrefurbishment of the Premises, placing the Premises in good ordermarketing costs, condition commissions and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting, including necessary repair, the unamortized portion of any tenant improvements and brokerage commissions funded by Landlord in connection with this Lease, reasonable attorneys' fees, and any other reasonable costs; and
(5) At Landlord's election, all other amounts in addition to or in lieu of the foregoing as may be permitted by law. The term "rent" as used in the Lease shall be deemed to mean the Basic Rent, Tenant's Share of Operating Expenses and any other sums required to be paid by Tenant to Landlord pursuant to the terms of this lease whether or not designated as additional rent hereunder, including, without limitation, any sums that may be owing from Tenant pursuant to Section 4.3 of this Lease. Any sum, other than Basic Rent, shall be computed on the basis of the average monthly amount accruing during the twenty-four (24) month period immediately prior to the Event of Default, except that if it becomes necessary to compute such rental before the twenty-four (24) month period has occurred, then the computation shall be on the basis of the average monthly amount during the shorter period. As used in Sections 14.2(a)(i)(1), (2) and (3) above, the “worth at the time of award" shall be computed by allowing interest at the rate of ten percent (10%) per annum.
(6) In the event of a Tenant’s Default or earlier termination of the Lease during the initial 66 month term only, Tenant is responsible to immediately pay back, in full amount, the Landlord Contribution toward the Tenant Requested Improvements as described in Work Letter. The full amount of Landlord Contribution is due ten (10) days from the time a Tenant‘s Default or earlier termination occurs.
(ii) Landlord may elect not to terminate Tenant's right to possession of the Premises and to continue to enforce all of its rights and remedies under this Lease, including the right to collect all rent as it becomes due as provided in Civil Code Section 1951.4. Efforts by the Landlord to maintain, preserve or relet the Premises, or the appointment of a receiver to protect the Landlord's interests under this Lease, shall not constitute a termination of the Tenant's right to possession of the Premises. ln the event that Landlord elects to avail itself of the remedy provided by this Section 14.2(a)(ii), Landlord shall not unreasonably withhold its consent to an assignment or subletting of the Premises subject to the reasonable standards for Landlord's consent as are contained in this Lease.
(b) Landlord shall be under no obligation to observe or perform any covenant of this Lease on its part to be observed or performed which accrues after the date of any Event of Default by Tenant unless and until the Event of Default is cured by Tenant, it being understood and agreed that the performance by Landlord of its obligations under this Lease are expressly conditioned upon Tenant's full and timely performance of its obligations under this Lease. The various rights and remedies reserved to Landlord in this Lease or otherwise shall be cumulative and, except as otherwise provided by California law, Landlord may pursue any or all of its rights and remedies at the same time.
(c) No delay or omission of Landlord to exercise any right or remedy shall be construed as a waiver of the right or remedy or of any breach or Event of Default by Tenant. The acceptance by Landlord of rent shall not be a (i) waiver of any preceding breach or Event of Default by Tenant of any provision of this Lease, other than the failure of Tenant to pay the particular rent accepted, regardless of Landlord's knowledge of the preceding breach or Event of Default at the time of acceptance of rent, or (ii) a waiver of Landlord's right to exercise any remedy available to Landlord by virtue of the breach or Event of Default. The acceptance of any payment from a debtor in possession, a trustee, a receiver or any other person acting on behalf of Tenant or Tenant's estate shall not waive or cure a breach or Event of Default under Section 14.1. No payment by Tenant or receipt by Landlord of a lesser amount than the rent required by this Lease shall be deemed to be other than a partial payment on account of the earliest due stipulated rent, nor shall any endorsement or statement on any check or letter be deemed an accord and satisfaction and Landlord shall accept the check or payment without prejudice to Landlord's right to recover the balance of the rent or pursue any other remedy available to it. No act or thing done by Landlord or Landlord's agents during the Term shall be deemed an acceptance of a surrender of the Premises, and no agreement to accept a surrender shall be valid unless in writing and signed by Landlord. No employee of Landlord or of Landlord's agents shall have any power to accept the keys to the Premises prior to the termination of this Lease, and the delivery of the keys to any employee shall not operate as a termination of this Lease or a surrender of the Premises. ThermoGenesis Holdings Inc. Lease
(d) Any agreement for free or abated rent or other charges, or for the giving or paying by Landlord to or for Tenant of any cash or other bonus, inducement or consideration for Tenant's entering into this Lease or any other concession agreed to by Landlord hereunder ("Inducement Provisions") shall be deemed conditioned upon Tenant's full and faithful performance of the terms, covenants and conditions of this Lease for the initial 66 month term. Upon an Event of Default under this Lease by Tenant, any such Inducement Provisions shall automatically be deemed deleted from this Lease and of no further force or effect and the amount of any rent reduction or abatement or other bonus, inducement or consideration or other concession already given by Landlord or received by Tenant as an inducement shall be immediately due and payable by Tenant to Landlord, notwithstanding any subsequent cure of said Event of Default by Tenant.
Appears in 1 contract
Landlord’s Remedies. In the event of If an Event of Default under Section 10.01 occurs and is not cured within the time allowed hereby for the cure thereof, then Landlord, Landlord may exercise any one or more of the following remedies in addition to any other rights remedies provided by law or remedies it may have at law, in equity or otherwise, shall have the following rightsequity:
(a) Without terminating this Lease, seek specific performance of Tenant's obligations hereunder and in that connection, Tenant hereby agrees that Landlord's remedies at law are and will be insufficient to preserve for Landlord the benefit of this Lease and that monetary damages would not be a sufficient remedy;
(b) Without terminating this Lease, re-enter the Premises (by legal action, if necessary), and proceed to relet as Tenant's agent all or any part of the Premises as Landlord in its sole discretion may deem necessary or appropriate, and on such terms, rentals and conditions as may, in the reasonable opinion of Landlord, be commercially reasonable; all rentals received by Landlord from such reletting shall have be applied first, to Landlord's expenses incurred in connection with any such reentering and reletting, including without limitation, any and all costs and expenses incurred in renovating or altering space in the Premises to make it suitable for reletting, brokerage commissions and attorneys fees and other fees incurred in connection therewith, and advertising costs and expenses; second, to all other damages and expenses suffered or incurred by Landlord as a result of Tenant's breach hereof; and third, to all rent not paid by Tenant; any surplus of such rentals shall be held by Landlord without interest and free from the claims of creditors of Tenant, as security for the continued payment and performance of Tenant's obligations hereunder until Landlord terminates this Lease or the Term expires, at which time, any amount remaining after full payment to Landlord will be paid over to Tenant. Unless Landlord has expressly notified Tenant that it is exercising the right of termination contained in clause (c) of this Section 8.2, the actions described in this clause (b) shall not be deemed to terminate this Lease and Tenant's right to possession or constitute an acceptance of any attempted or purported surrender by Tenant of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express or any part thereof; or
(c) By written notice to Tenant, terminate this Lease, which termination shall be effective upon the date of such notice, and upon receipt of such notice, Tenant shall terminate this Lease or Tenant's right to immediately vacate the Premises; if Tenant thereafter remains in possession of the Premises, Landlord may institute dispossessory proceedings. Should Landlord at any time terminate this Lease for any breach, in In addition to any other remedy it the foregoing, Landlord may have, it is hereby agreed by Landlord and initiate an action against Tenant that for the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, at the time recovery of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) The worth, at the time of award, of the amount by which the unpaid Rent that would have been earned after all rent due hereunder through the date of the notice of termination, or the date Tenant vacates the Premises, whichever later occurs, with interest thereon from the date when due at the rate provided in Section 18.11, together with all other damages, including consequential and incidental damages, attorney's fees and litigation costs suffered by Landlord as a result of Tenant's breach hereof. No termination of this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of nor taking or recovering possession of the Premises, removing persons shall deprive Landlord of any remedies or property therefromactions against Tenant for rents or for damages for the breach of any covenant herein contained, placing nor shall the bringing of any such action for rents or breach of covenant, nor the resort to any other remedy herein provided for the recovery of rents or damages for such breach be construed as a waiver of the right to insist upon obtaining possession of the Premises in good orderthe manner herein provided. Landlord shall also be entitled to recover from Tenant all expenses including reasonable attorney's fees incurred in connection with enforcement of Landlord's rights and remedies under this Lease. In any action against Tenant for rents or damages, condition and repairLandlord, preparing and altering in determining the Premises for reletting and all other costs and expenses amount of relettingrent that would be payable by Tenant, may estimate the amount of future Additional Rent based on the actual amount of Additional Rent that was payable by or would have been most recently payable by Tenant. Any suit to recover rents or damages by Landlord shall not bar any later suit to recover additional rents or damages hereunder.
Appears in 1 contract
Landlord’s Remedies. In Upon the event occurrence of an Event of Default under Section 10.01 then Default, Landlord, at its option, without further notice or demand to Tenant, shall have, in addition to any all other rights and remedies provided in this Lease, at law or remedies it may have at lawin equity, the option to pursue any one or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever:
20.2.1. Terminate this Lease, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to which event Tenant shall terminate this Lease or Tenant's right immediately surrender the Demised Premises to possession of the Premises. Should Landlord, and if Tenant fails to do so, Landlord at any time terminate this Lease for any breachmay, in addition without prejudice to any other remedy which it may havehave for possession or arrearages in Rent, it is hereby agreed by enter upon and take possession of the Demised Premises and expel or remove Tenant and any other person who may be occupying the Demised Premises or any part thereof, without being liable for prosecution or any claim or damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfollowing:
(i) The worth, worth at the time of award, award of the any unpaid Rent that which has been earned at the time of the termination of this Lease;such termination; plus
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; andplus
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, including, but not limited to, ’s failure to perform its obligations under this Lease or which in the costs and expenses ordinary course of things would be likely to result therefrom; and
(including attorneys' fees, court costs, advertising costs and brokers' commissionsv) of recovering possession Such other amounts in addition to or in lieu of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingforegoing as may be permitted from time to time by applicable law.
Appears in 1 contract
Samples: Build to Suit Lease (Intuit Inc)
Landlord’s Remedies. In Upon the event occurrence of an Event of Default under Section 10.01 then Default, Landlord, at its option, without further notice or demand to Tenant, shall have, in addition to any all other rights and remedies provided in this Lease, at law or remedies it may have at lawin equity, in equity the option to pursue any one or otherwise, shall have more of the following rightsremedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever:
(a) Landlord shall have the right to terminate Terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Lease, in which event Tenant shall terminate this Lease or Tenant's right immediately surrender the Demised Premises to possession of the Premises. Should Landlord, and if Tenant fails to do so, Landlord at any time terminate this Lease for any breachmay, in addition without prejudice to any other remedy which it may havehave for possession or arrearages in Base Rent or Additional Rent, it is hereby agreed by enter upon and take possession of the Demised Premises and expel or remove Tenant and any other person who may be occupying the Demised Premises or any part thereof, without being liable for prosecution or any claim or damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfollowing:
(i) The worth, worth at the time of award, award of the any unpaid Base Rent that and Additional Rent which has been earned at the time of the termination of this Lease;such termination; plus
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Base Rent that and Additional Rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Base Rent and Additional Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; andplus
(iv) Any other amount reasonably necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, including, but not limited to, failure to perform its obligations under this Lease or which in the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissionsordinary course of things would be likely to result therefrom; and
v) of recovering possession Such other amounts in addition to or in lieu of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingforegoing as may be permitted from time to time by applicable law.
Appears in 1 contract
Landlord’s Remedies. a. In the event of an Event of Default under Section 10.01 then Landlordany such default by Tenant, then, in addition to any other rights remedies available to Landlord at law or remedies it may have at lawin equity, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right immediate option to terminate this Lease and Tenant's right to possession all rights of the Premises Tenant hereunder by giving Tenant five (5) days’ written notice of termination such election to Tenantterminate. No act by In the event Landlord other than giving express written notice shall elect to Tenant shall so terminate this Lease or Lease, Landlord may recover from Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, the worth at the time of award, award of the any unpaid Rent that rent which has been earned at the time of the termination of this Lease;such termination; plus
(ii) The worth, the worth at the time of award, award of the any amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of the award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; andplus
(iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(v) at Landlord’s election, includingsuch other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law.
b. All “rent” (as defined in Section 4.4) shall be computed on the basis on the monthly amount thereof payable on the date of Tenant’s default, as the same are to be adjusted thereafter as contemplated by this Lease. As used in paragraphs (i) and (ii) above, the “worth at the time of award” is computed by allowing interest in the per annum amount equal to the prime rate of interest or other equivalent reference rate from time to time announced by the Bank of America National Trust and Savings Association (the “Reference Rate”) plus two percent (2%), but not limited toin no event in excess of the maximum interest rate permitted by law. As used in paragraph (iii) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
c. In the event of any such default by Tenant, Landlord shall also have the right, with or without terminating this Lease, to re-enter the Premises and remove all persons and property therefrom by summary proceedings or otherwise; such property may be removed and stored in a public warehouse or elsewhere at the cost of and for the account of Tenant.
d. In the event of the vacation or abandonment of the Premises by Tenant, or in the event that Landlord elects to re-enter as provided in Paragraph (c) above or takes possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, and if Landlord does not elect to terminate this Lease, then Landlord may from time to time, without terminating this Lease, either recover all rent as it becomes due or relet the Premises or any part thereof for such term or terms and at such rent and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable, with the right to make alterations and repairs to the Premises. If Landlord does not terminate this Lease and if Tenant requests Landlord’s consent to an Assignment of this Lease or a Sublease of the Premises at such time as Tenant is in default, Landlord may not unreasonably withhold its consent to such Assignment or Sublease.
e. In the event that Landlord shall elect to so relet as provided in Paragraph (d) above, then rentals received by Landlord from such reletting shall be applied: First, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any cost of such reletting; third, to the payment of the cost of any alterations and repairs to the Premises; fourth, to the payment of rent due and unpaid hereunder; and the remainder, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of rent hereunder, be less than the rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any and all reasonable costs and expenses (including attorneys' fees, court costs, advertising costs incurred by Landlord in such reletting or in making such alterations and brokers' commissions) of recovering possession of repairs not covered by the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of rentals received from such reletting.
Appears in 1 contract
Samples: Office Lease (Vestin Fund Iii LLC)
Landlord’s Remedies. (a) In the event of an Event of Default under Section 10.01 then Landlordany default by Tenant, as defined herein, then, in addition to any other rights remedies available to Landlord at law or remedies it may have at lawin equity, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right immediate option, but shall not be obligated to do so, to terminate this Lease and Tenant's right to possession all rights of the Premises Tenant hereunder by giving Tenant written notice of termination such election to Tenantterminate. No act by In the event that Landlord other than giving express written notice shall elect to Tenant shall so terminate this Lease or Lease, then Landlord may recover from Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, worth at the time of award, award of the any unpaid Rent that has which had been earned at the time of the termination of this Lease;such termination; plus
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount that portion of the rental loss of Rent that which Tenant proves could have been reasonably avoided;; plus
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that which Tenant proves reasonably could be reasonably avoided; andplus
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, ’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom including, but not limited to, brokerage commissions and the costs cost of restoring said Premises to the condition required under this Lease; plus
(v) At Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law.
(vi) As used in (i) and expenses (including attorneys' feesii) above, court coststhe “worth at the time of award” shall be computed by allowing interest at the Interest Rate. As used in (iii) above, advertising costs the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank at San Francisco at the time of award, plus one (1) percentage point.
(b) In the event of any such default by Tenant, Landlord shall also have the right, with or without terminating this Lease, to reenter the Premises to remove all persons and brokers' commissionsproperty 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.
(c) In the event of recovering the abandonment of the Premises by Tenant or in the event of any default by Tenant, if Landlord does not elect to terminate this Lease as provided in this Section, then Landlord may exercise the remedy and shall be entitled to all the rights provided for in California Civil Code Section 1951.4 or any successor statute thereto or similar statute hereinafter enacted.
(d) Landlord shall not, by any reentry or other act, be deemed to have accepted any surrender by Tenant of the Premises or Tenant’s interest therein, or be deemed to have terminated this Lease or Tenant’s right to possession of the Premises, unless Landlord shall have notified Tenant in writing that it has so elected to terminate this Lease.
(e) Landlord may suspend or discontinue all or any of the services specified in Article 4 during the continuance of any material and undisputed default; and no such suspension or discontinuance will be deemed or construed to be an eviction, constructive or actual, or an ejection of Tenant.
(f) If Landlord reenters the Premises, Tenant shall have no claims for damages that may be caused by Landlord’s reentering or removing persons and storing the property of Tenant, and indemnifies, defends, protects and holds Landlord harmless from all losses, costs, expenses (including attorney’s fees and court costs) or property therefromdamages occasioned by Landlord. No such entry shall be considered or deemed to be a forcible entry by Landlord.
(g) All rights, placing 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 Premises other, and Landlord shall have the right to pursue any one or all of such remedies or any other remedy or relief which may be provided by law, whether or not stated in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingthis Lease.
Appears in 1 contract
Landlord’s Remedies. In the event of an Upon any Event of Default under Section 10.01 then LandlordDefault, Landlord shall have, in addition to any other rights remedies available to Landlord at law or in equity (which shall be cumulative and nonexclusive), the option to pursue any one or more of the following remedies it (which shall be cumulative and nonexclusive) without any notice or demand:
18.2.1 Landlord may have at lawterminate this Lease, in equity or otherwise, which event Tenant shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of immediately surrender the Premises by giving written notice of termination to Tenant. No act by Landlord, and if Tenant fails to do so, Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachmay, in addition without prejudice to any other remedy it may havehave for possession or arrearages in Rent, it is hereby agreed by enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
following: (ia) The worth, the worth at the time of award, award of the unpaid Rent that has which had been earned at the time of such termination; (b) the termination of this Lease;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iiic) The worth, the worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could be reasonably avoided; and
(ivd) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations hereunder or which in the ordinary course of things would be likely to result therefrom, including brokerage commissions, advertising expenses, expenses of remodeling any portion of the Premises for a new tenant (whether for the same or a different use), and any special concessions made to obtain a new tenant; plus (e) at Landlord’s option, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by law. As used in subsection (a) and subsection (b) above, the “worth at the time of award” shall be computed by allowing interest at a rate per annum equal to the lesser of (i) the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release Publication G.13(415), published on the first Tuesday of each calendar month (or such other comparable index as Landlord shall reasonably designate if such rate ceases to be published) plus two (2) percentage points, or (ii) the highest rate permitted by Law. As used in subsection (c) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.
18.2.2 Landlord shall have 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 the right to sublet or assign, subject only to reasonable limitations). Accordingly, if Landlord does not elect to terminate this Lease on account of any Event of Default by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover all Rent as it becomes due.
18.2.3 Landlord shall at all times have the rights and remedies (which shall be cumulative with each other and cumulative and in addition to those rights and remedies available under Section 18.2.1 and Section 18.2.2, or any law or other provision hereof), without prior demand or notice except as required by law, to seek any declaratory, injunctive or other equitable relief, and specifically enforce this Lease, or restrain or enjoin a violation or breach of any provision hereof.
18.2.4 Unless Landlord provides Tenant with express notice to the contrary, no re-entry, repossession, repair, maintenance, change, alteration, addition, reletting, appointment of a receiver or other action or omission by Landlord shall (a) be construed as an election by Landlord to terminate this Lease or Tenant’s right to possession, or to accept a surrender of the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Tenant waives, for Tenant and for all those claiming by, through or under Tenant, California Civil Code § 3275, California Code of Civil Procedure §§ 1174(c) and 1179, and any existing or future rights to redeem or reinstate, by order or judgment of any court or by any legal process or writ, this Lease or Tenant’s right of occupancy of the Premises after any termination hereof.
18.2.5 If Landlord elects to cure such Event of Default by Tenant, Landlord may, at Landlord's option, enter into and upon the Premises and correct the same without being deemed in any manner guilty of trespass, eviction or forcible entry and detainer and without incurring any liability for any damage or interruption of Tenant's business resulting therefrom. If any lien is filed and not cured within the fifteen (15) day time period set forth above, then Landlord may take such action as may be necessary to remove such lien. Tenant agrees to pay Landlord an amount equal to one hundred ten percent (110%) of any expenses which Landlord may incur in thus effecting compliance with Tenant's obligations under this Lease, including without limitation, attorney’s fees, together with interest thereon at the Applicable Interest Rate from the date of expenditure.
18.2.6 Exercise by Landlord of any one (1) 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 except as provided in Section 18.2.1 and Section 18.2.2 above, 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 (1) or more of its rights in connection with any subsequent Event of 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 also 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, are not restricted to their technical legal meanings. Any reletting of the Premises shall be on such terms and conditions as Landlord in its sole discretion may determine (including without limitation a term different than the remaining Term, rental concessions, alterations and repair of the Premises, and lease of less than the entire Premises to any tenant). Landlord shall not be liable, nor shall Tenant's obligations hereunder be diminished because of, Landlord's failure to relet the Premises or collect rent due in respect of such reletting.
18.2.7 Even if an eviction moratoria exists, to the extent permitted by Applicable Laws, Landlord shall have the right to continue this Lease in effect and bring an action to collect rent due under this Lease (including an action against any guarantors of Tenant's obligations under this Lease) and otherwise exercise Landlord's rights and remedies under this Lease including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) Landlord's right to apply or draw upon any security deposit or letter of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingcredit delivered to Landlord pursuant to this Lease.
Appears in 1 contract
Samples: Single Tenant Industrial Triple Net Lease (Velo3D, Inc.)
Landlord’s Remedies. In Upon the occurrence of any event of an Event of Default under Section 10.01 then Landlorddefault by Tenant, Landlord may, at its option and without any further notice or demand (in addition to any other rights and remedies under this Lease, at law or remedies it may have at law, in equity or otherwise, shall have equity) do any of the following rightsfollowing:
(a) Landlord shall have the right right, so long as such default continues, to terminate this Lease and Tenant's right to possession of the Premises by giving written give notice of termination to Tenant. No act by Landlord other On the date specified in such notice (which shall not be less than three (3) days after the giving express written notice to Tenant shall terminate of such notice) this Lease shall terminate.
(b) In the event of any such termination of this Lease, Landlord may then or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachthereafter re-enter the Premises and remove therefrom all persons and property and again repossess and enjoy the Premises, in addition without prejudice to any other remedy it remedies that Landlord may havehave by reason of Tenant's default or of such termination.
(c) The amount of damages that Landlord may recover in the event of such termination shall include, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
: (i1) The worth, the amount at the time of award, award (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) of (A) unpaid Rent that has been rent earned at the time of the termination of this Lease;
termination, (iiB) The worth, at the time of award, of the amount by which the unpaid Rent rent that would have been earned during the period from termination until the award exceeds the amount of such rent loss that Tenant proves could have been reasonably avoided, and (C) the amount by which the unpaid rent for the balance of the term after the date of termination of this Lease until 24 the time of award exceeds the amount of the such rent loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv2) Any all reasonable legal expenses and other amount necessary to compensate related costs incurred by Landlord for all detriment proximately caused by following Tenant's breach, including, but not limited to, default; (3) all reasonable costs incurred by Landlord in restoring the Premises to good order and condition; (4) all other costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' without limitation any brokerage commissions) for the remaining term of recovering possession of this Lease, as the same may be extended, incurred by Landlord in reletting the Premises; and (5) all actual costs expended by Landlord to accomplish any remodeling, removing persons renovation, or property therefrom, placing the Premises in good order, condition and repair, otherwise preparing and altering the Premises for reletting other than (3) above not to exceed the then remaining unamortized portion of the Total Tenant Improvement Allowance at eight percent (8%) per annum.
(d) Following the termination of this Lease (or upon Tenant's failure to remove its personal property from the Premises after the expiration of the term of this Lease), Landlord may remove any and all personal property located in the Premises and place such property in a public or private warehouse or elsewhere at the sole cost and expense of Tenant; such warehousing shall have all rights and remedies provided by law against Tenant as the owner of such property. In addition, in the event that Tenant shall not immediately pay the cost of storage of such property after the same has been stored for a period of thirty (30) days or more, Landlord may sell any or all thereof at a public or private sale in such manner and at such times and places as Landlord in its sole discretion may deem proper, without notice to or demand upon Tenant. Tenant waives all claims for damages that may be caused by Landlord's removing, storing, or selling the property as herein provided, and Tenant shall indemnify and hold Landlord free and harmless from and reimburse Landlord for any and all losses, costs, and damages, including without limitation all costs of court and attorney's fees.
(e) Landlord shall have the right to cause a receiver to be appointed in any action against Tenant to take possession of the Premises and to collect the rents or profits derived therefrom. The appointment of such receiver shall not constitute an election on the part of Landlord to terminate this Lease unless notice of such intention is given to Tenant.
(f) Landlord shall have the remedy described in California Civil Code Section 1951.4, as amended. 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 in periodic actions as it becomes due under this Lease. In such event, Landlord may re-enter the Premises and remove all persons and property if the Premises have not been vacated, using any available summary proceedings, without such re-entry or removal being deemed a termination or acceptance of 25 surrender of this Lease. Landlord may then elect to relet the Premises for the account of Tenant for a period that may extend beyond the term hereof, and upon such other terms as Landlord may reasonably deem appropriate. Tenant shall reimburse Landlord upon demand for all costs incurred by Landlord enumerated in subparagraph (c) and expenses (d) above. The proceeds of relettingsuch reletting shall be applied first to any sums then due and payable to Landlord from Tenant, including the reimbursement described above. The balance, if any, shall be applied to the payment of future rent as it becomes due hereunder.
Appears in 1 contract
Samples: Lease (Accelgraphics Inc)
Landlord’s Remedies. In the event of an Event of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rights:
(a) If a Default occurs, Landlord shall have the right to rights and remedies hereinafter set forth, which shall be distinct and cumulative:
(i) Landlord may terminate this Lease by giving Tenant notice of Landlord's election to do so, in which event, the term of this Lease shall end and all of Tenants rights and interests shall expire on the date stated in such notice; (ii) Landlord may terminate Tenant's right to of possession of the Premises without terminating this Lease by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or that Tenant's right to of possession shall end on the date specified in such notice; or (iii) Landlord may enforce the provisions of this Lease and may enforce and protect the rights of the Premises. Should Landlord hereunder by a suit or suits in equity or at law for the specific performance of any time terminate this Lease covenant or agreement contained herein, or for any breach, in addition to the enforcement of any other remedy it may haveappropriate legal or equitable remedy, it is hereby agreed by including recovery of all monies due or to become due for the balance of the Term from Tenant under any of the provisions of this Lease.
(b) In the event that Landlord and Tenant that terminates the damages Lease, Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, at the time of award, as damages for loss of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) The worthbargain and not as a penalty, at the time of award, of the amount by which the unpaid Rent that would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated Term, plus all Landlord's expenses of reletting, including without limitation, repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions (collectively, the "Reletting Expenses").
(c) In the event Landlord proceeds pursuant to subparagraph (a) (ii) above, Landlord may, but shall not be obligated to (except as may be required by law), relet the Premises, or any part thereof for the account, of Tenant, for such rent and term hereof (determined without regard and upon such terms and conditions as are reasonably acceptable to Landlord. For purposes of such reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the termination extent reasonably necessary or desirable. If the Premises are relet and the consideration realized therefrom after payment of all Landlord's Reletting Expenses, is insufficient to satisfy the payment when due of Rent reserved under this Lease for Tenant's breach) after any monthly period, then Tenant shall pay Landlord upon demand any such deficiency monthly. If such consideration is greater than the time of award exceeds amount necessary to pay the full amount of the loss Rent, the full amount of Rent such excess shall be retained by Landlord and shall in no event be payable to Tenant. Tenant agrees that Tenant proves could 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 reasonably avoided; andany defense to any subsequent action brought for any amount not therefore reduced to judgment in favor of Landlord.
(ivd) Any other amount necessary to compensate In the event a Default occurs, Landlord for all detriment proximately caused by Tenantmay, at Landlord's breachoption, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession of enter into the Premises, removing persons remove Tenants property, fixtures, furnishings, signs and other evidences of tenancy, and take and hold such property, provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Tenant's obligation to pay the Rent reserved hereunder for the full Term or from any other obligation of Tenant under this Lease. Any and all property therefrom, placing which may be removed from the Premises by Landlord pursuant to the authority of the Lease or law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the risk, cost and expense of Tenant, and Landlord shall in good orderno event be responsible for the value, condition and repairpreservation or safekeeping thereof. Tenant shall pay Landlord, preparing and altering the Premises for reletting upon demand, any and all other costs expenses incurred in such removal and expenses all storage charges against such property so long as the same shall be in the Landlord's possession or under the Landlord's control. Any such property of relettingTenant not retaken from storage by Tenant within thirty (30) days after the Termination Date, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as a bill xx sale without farther payment or credit by Landlord to Tenant.
Appears in 1 contract
Samples: Office Lease (Nichols Txen Corp)
Landlord’s Remedies. In the event of If an Event of Default under occurs, 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 sums identified in such three (3) day notice 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. If Landlord terminates this Lease pursuant to the provisions of this Section, Landlord shall have all the rights and remedies of a landlord provided by Section 10.01 then Landlord1951.2 of the California Civil Code or any successor code section. Upon such termination, in addition to any other rights or and remedies it to which Landlord may have at be entitled under applicable law, in equity or otherwise, shall have the following rights:
Landlord may recover from Tenant: (a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, worth at the time of award, award of the unpaid Rent that has rent which had been earned at the time of termination; (b) the termination of this Lease;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rent loss of Rent that Tenant proves could have been reasonably avoided;
; (iiic) The worth, the worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rent loss of Rent that Tenant proves could be reasonably avoided; and
and (ivd) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, including, but not limited to, ’s failure to perform its obligations under this Lease or which in the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) ordinary course of recovering possession things would be likely to result therefrom. The “worth at the time of award” of the Premisesamounts referred to in clauses (a) and (b) above shall be computed by allowing interest at the rate set forth in Section 16.4 hereof. The worth at the time of award of the amount referred to in clause (c) above shall be computed by discounting such amount at a rate equal to the discount rate of the Federal Reserve Board of San Francisco at the time of award plus one percentage point. Tenant agrees that such charges shall be recoverable by Landlord under California Code of Civil Procedure Section 1174(b) or any similar, removing persons successor or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses related provision of relettinglaw.
Appears in 1 contract
Samples: Lease Agreement (Durect Corp)
Landlord’s Remedies. (a) In the event of an Event of Default under Section 10.01 then Landlordany such default by Tenant, then, in addition to any other rights remedies available to Landlord at law or remedies it may have at lawin equity, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right immediate option to terminate this Lease and Tenant's right to possession all rights of the Premises Tenant hereunder by giving Tenant five (5) days' written notice of termination such election to Tenantterminate. No act by In the event Landlord other than giving express written notice shall elect to Tenant shall so terminate this Lease or Lease, Landlord may recover from Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, the worth at the time of award, award of the any unpaid Rent that rent which has been be earned at the time of the termination of this Lease;such termination; plus
(ii) The worth, the worth at the time of award, award of the any amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of the award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; andplus
(iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(v) at Landlord's election, includingsuch other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law.
(b) As used in paragraphs (i) and (ii) above, the "worth at the time of award" is computed by allowing interest in the per annum amount equal to the prime rate of interest or other equivalent reference rate from time to time announced by the Bank of America National Trust and Savings Association (the "Reference Rate") plus two percent (2%), but not limited toin no event in excess of the maximum interest rate permitted by law. As used in paragraph (iii) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(c) In the event of any such default by Tenant, Landlord shall also have the right, with or without terminating this Lease, to re-enter the Premises and remove all persons and property therefrom by summary proceedings or otherwise; such property may be removed and stored in a public warehouse or elsewhere at the cost of and for the account of Tenant.
(d) In the event of the vacation or abandonment of the Premises by Tenant, or in the event that Landlord elects to re-enter as provided in Paragraph (c) above or takes possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, and if Landlord does not elect to terminate this Lease, then Landlord may from time to time, without terminating this Lease, either recover all rent as it becomes due or relet the Premises or any part thereof for such term or terms and at such rent and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable, with the right to make alterations and repairs to the Premises. If Landlord does not terminate this Lease and if Tenant requests Landlord's consent to an Assignment of this Lease or a Sublease of the Premises at such time as Tenant is in default, Landlord may not unreasonably withhold its consent to such Assignment or Sublease.
(e) In the event that Landlord shall elect to so relet as provided in Paragraph (d) above, then rentals received by Landlord from such reletting shall be applied: First, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any cost of such reletting; third, to the payment of the cost of any alterations and repairs to the Premises; fourth, to the payment of rent due and unpaid hereunder; and the remainder, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of rent hereunder, be less than the rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses (including attorneys' fees, court costs, advertising costs incurred by Landlord in such reletting or in making such alterations and brokers' commissions) of recovering possession of repairs not covered by the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of rentals received from such reletting.
Appears in 1 contract
Samples: Ground Lease (Ready Mix, Inc.)
Landlord’s Remedies. In the event of an Event of Default If Tenant breaches or is in default under Section 10.01 then this Lease, ------------------- ----------------------------------- Landlord, in addition to any other rights remedies given Landlord by law or remedies it may have at lawequity, in equity or otherwise, shall have the following rights:-------- may: ---
(a) Landlord shall have the right to terminate Continue this Lease and in effect by not terminating Tenant's right to ------------------- possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall thereby be entitled to recover enforce all Landlord's rights and remedies under this Lease shall include without limitationincluding the right to recover the rent specified in this Lease as it becomes due under this Lease; or
(b) Terminate this Lease and all rights of Tenant under the Lease and recover -------------------- from Tenant:
(i1) The worth, worth at the time of award, award of the unpaid Rent rent that has had been earned at the time of the termination of this the Lease;
(ii2) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent that would have been earned after the date of termination of this the Lease until the time of award exceeds the amount of the rental loss of Rent that Tenant proves could have been reasonably avoided;
(iii3) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the rental loss of Rent that Tenant proves could be reasonably avoided; and
(iv4) Any other amount necessary to compensate Landlord for all detriment ------------------------------------------------------------------- proximately caused by Tenant's breach, including, but not limited to, failure to perform Tenant's obligations under -------------------------------------- this Lease;
(c) In addition to bringing an action for any or all of the costs and expenses recoveries described in subparagraph (including attorneys' fees, court costs, advertising costs and brokers' commissionsb) of recovering this paragraph, Landlord may bring an action to recover and regain possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses manner provided by the California law of relettingunlawful detainer then in effect.
Appears in 1 contract
Landlord’s Remedies. In Upon the event occurrence of an Event of any Default under Section 10.01 then Landlordby Tenant, Landlord shall have, in addition to any other rights remedies available to Landlord at law or remedies in equity, the option to pursue any one or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever.
(i) Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have at lawfor possession or arrearages in rent, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease enter upon and Tenant's right to take possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to and expel or remove Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to and any other remedy it person who may havebe occupying the Premises or any part thereof, it is hereby agreed by without being liable for prosecution or any claim or damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfollowing:
(iA) The worth, worth at the time of award, award of the any unpaid Rent that rent which has been earned at the time of the termination of this Lease;such termination; plus
(iiB) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iiiC) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; andplus
(ivD) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which in
(E) At Landlord's election, includingsuch other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable Law. The term “rent” as used in this Paragraph 26(b) shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Paragraph 26(b)(i)(A) and Paragraph 26(b)(i)(B)), above, the “worth at the time of award” shall be computed by allowing interest at the Interest Rate set forth in Paragraph 5(d) of this Lease. As used in Paragraph Paragraph 26(b)(i)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(ii) Landlord shall have 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 the right to sublet or assign, subject only to reasonable limitations). Accordingly, if Landlord does not elect to terminate this Lease on account of any Default by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies under this Lease, including the right to recover all Rent as it becomes due.
(iii) Landlord may, but shall not limited be obligated to, the costs make any such payment or perform or otherwise cure any such obligation, provision, covenant or condition on Tenant's part to be observed or performed regarding which Tenant is in Default hereunder (and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering may enter the Premises for reletting such purposes). In the event of Tenant's failure to perform any of its obligations or covenants under this Lease, and all other costs such failure to perform poses a material risk of injury or harm to persons or damage to or loss of property, then Landlord shall have the right to cure or otherwise perform such covenant or obligation at any time after such failure to perform by Tenant, whether or not any such notice or cure period set forth in Paragraph 26(a) above has expired. Any such actions undertaken by Landlord pursuant to the foregoing provisions of this Paragraph 26(b)(iii) shall not be deemed a waiver of Landlord's rights and expenses remedies as a result of relettingTenant's failure to perform and shall not release Tenant from any of its obligations under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Neophotonics Corp)
Landlord’s Remedies. In (a) Upon the event occurrence of an Event of Default under Section 10.01 then Default, Landlord, in addition to at its option, and without limiting the exercise of any other rights right or remedies it remedy Landlord may have at on account of such Event of Default, and without any further demand or notice, may give to Tenant 3 days' notice of termination of this Lease, in which event this Lease and the Term shall come to an end and expire (whether or not the Term shall have commenced) upon the expiration of such 3 day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 15, and/or, to the extent permitted by law, in equity Landlord may remove all persons and property from the Premises, which property shall be stored by Landlord at a warehouse or otherwiseelsewhere at the risk, shall have expense and for the following rights:account of Tenant.
(ab) If Landlord shall have the right elects to terminate this Lease and Tenant's right Lease, pursuant to possession Section 1951.2 of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachCalifornia Civil Code, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfrom Tenant the aggregate of:
(i) The worth, worth at the time of award, award of the unpaid Rent that has been and charges equivalent to Rent earned at as of the time date of the termination of this Leasehereof;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that and charges equivalent to Rent which would have been earned after the date of termination of this Lease hereof until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent and charges equivalent to Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and;
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which, includingin the ordinary course of things, but not limited towould be likely to result therefrom; and
(v) Any other amount which Landlord may hereafter be permitted to recover from Tenant to compensate Landlord for the detriment caused by Tenant's default. For the purposes of this Section 15.2(b), the costs and expenses (including attorneys' fees, "time of award" shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of such Event of Default is entered or such earlier date as the court costs, advertising costs and brokers' commissions) may determine; the "worth at the time of recovering possession award" of the Premisesamounts referred to in Sections 15.2(b)(i) and 15.2(b)(ii) shall be computed by allowing interest on such amounts at the Interest Rate; and the "worth at the time of award" of the amount referred to in Section 15.2(b)(iii) shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1% per annum. Tenant agrees that such charges shall be recoverable by Landlord under California Code of Civil Procedure Section 1174(b) or any similar, removing persons successor or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses related provision of relettinglaw.
Appears in 1 contract
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then Landlordand so long as such Event of Default shall be continuing, in addition to Landlord may at any other rights or remedies it may have time thereafter at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall 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 formal demand or notice of any kind, to possession re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to 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. Should Landlord at any time terminate Except as otherwise provided in the next paragraph, if Tenant breaches this Lease for any breachand abandons the Premises prior to the end of the term hereof, in addition or if Tenant's right to any other remedy it may have, it possession is hereby agreed terminated by Landlord and because of an Event of Default by Tenant that the damages Landlord shall be entitled to recover under this Lease, this Lease shall include without limitation:
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, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, of the amount award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, including, but not limited tofailure 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 costs and expenses following terms are defined: (including attorneys' fees, court costs, advertising costs and brokers' commissionsa) The "worth at the time of recovering possession award" of the Premisesamounts referred to in Sections (i) and (ii) is computed by allowing interest at the lesser of 15 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), removing persons or property therefrom(ii), placing and (iii) above is the Premises date on which judgment is entered by a court of competent jurisdiction; (c) The "reasonable value" of the amount referred to in good orderclause (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, condition including fractional parts thereof, between the date of termination and repair, preparing 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 altering other charges under this Lease and (2) the Premises for reletting and all other costs and expenses number of relettingyears including fractional parts thereof remaining in the balance of the term of this Lease after the time of award.
Appears in 1 contract
Samples: Lease Agreement (Gatefield Corp)
Landlord’s Remedies. In the event of an Event any such default by Tenant (after notice and expiration of the applicable cure period), Landlord may at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any right or remedy which Landlord may have by reason of such default or breach:
(i) [intentionally omitted]
(ii) Perform, on behalf and at the expense of Tenant, any obligation of Tenant under this Lease which Tenant has failed to perform and of which Landlord shall have given at least three (3) days notice (except in the case of emergency, in which event no such notice shall be required), the cost of which performance by Landlord, together with interest therein at the Default under Section 10.01 then LandlordRate from the date of such expenditure, shall be deemed additional rent and shall be payable by Tenant to Landlord upon demand.
(iii) Re-enter and repossess the Premises, by summary proceedings or otherwise, and remove Tenant and all other persons and property from the Premises, and store such property in a public warehouse or elsewhere at the cost of for the account of Tenant without resort to legal process and without Landlord being deemed guilty of trespass or conversion or becoming liable for any loss or damage occasioned thereby. In connection herewith, Landlord shall have, in addition to any other rights or remedies it may have at lawremedies, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease any and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, at the time of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) 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 this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breachself-help remedies, including, but not limited to, a lock-out accomplished by changing the costs locks on the Premises.
(iv) Collect a sum which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (a) the aggregate of the installments of Minimum Rent and expenses the Additional Rent that would have been payable hereunder by Tenant, had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the earlier of (x) the fifteenth (15th) year following such termination or re-entry and (y) the Expiration Date, over (b) the aggregate rental value of the Premises for the same period (with the amounts of each of clauses (a) and (b) being first discounted to present value at an annual rate equal to the then prevailing discount rate announced by the Federal Reserve Bank plus two (2) percentage points). The amount of Additional Rent payable with respect to each lease year remaining in the Term after such default (including the lease year during which such default occurred) shall be conclusively presumed to be equal to the average Additional Rent payable with respect to each completed lease year preceding such default; provided, however, that if such default occurs before the expiration of two (2) lease years, then the amount of Additional Rent payable with respect to each lease year remaining in the Term after such default (including the lease year or partial lease year during which such default occurred) shall be conclusively presumed to be equal to twelve (12) times the average monthly Additional Rent payable prior to such default.
(v) Terminate this Lease by giving notice of such termination to Tenant, which termination shall be effective as of the date of such notice or any later date thereof specified by Landlord in such notice; provided, that, without limiting the generality of the foregoing provisions, Landlord shall not be deemed to have accepted any abandonment or surrender by Tenant of any or all of the Premises or Tenant's leasehold estate under this Lease unless Landlord has so advised Tenant expressly and in writing, regardless of whether Landlord has re-entered or relet any or all of the leased Premises or exercised any or all of Landlord's other rights under this Lease or applicable law.
(vi) In Landlord's own name, or otherwise, relet any and all of the Premises with or without any additional premises, for any or all of the remainder of the Term for, if this Lease has then been terminated, for any or all of the period which would, but for such termination, have constituted the remainder of the Term) or for a period exceeding such remainder, on such terms and subject to such conditions as are acceptable to Landlord (including, by way of example rather than of limitation, the alteration of any or all of the Premises in any manner which, in Landlord's judgment, is necessary or desirable in connection with such reletting, and the allowance of one or more concessions or free-rent or reduced-rent periods), and collect and receive the rents thereof. Tenant shall pay to Landlord, at the times and in the manner specified by the provision of this Lease (unless Landlord has elected to accelerate rent as provided above in subparagraph (iv), in which event Tenant shall be obligated to pay such accelerated amount as provided in such subparagraph): (i) the installments of the Minimum Rent, and Additional Rent accruing during such remainder of the Term, plus (ii) the cost to Landlord of any such reletting (including, by way of example rather of limitation, any attorneys' fees, court leasing or brokerage commissions, repair or improvement expenses and the expense of any other actions taken in connection with such reletting) less any monies received by Landlord with respect to such remainder from such reletting of any and all of the Premises.
(vii) Recover from Tenant, an amount equal to (i) all items of accrued and unpaid rent, (ii) all reasonable expenses (including, by way of example rather than of limitation, all repossession costs, advertising management expenses, operating expenses, legal expenses and attorneys' fees) incurred by Landlord in curing or seeking to cure any default or in exercising or seeking to exercise any of Landlord's rights any remedies under the provisions of this Lease or at law or in equity on account of any default, plus (iii) interest on all such expenses, at the Default Rate, all of which expenses and interest shall be payable by Tenant immediately on demand therefor by Landlord.
(viii) Without terminating this Lease, maintain Tenant's rights to possession, in which case this Lease shall continue to be in full force and effect whether or not Tenant shall have vacated the Leased Premises. In such event, Landlord shall be entitled to enforce all of Landlord's rights and remedies under this Lease, including the right to recover Rent as it becomes due hereunder.
(ix) Any damage or loss of rent sustained by Landlord may be recovered by Landlord, at Landlord's option, at the time of the reletting or termination, in a single action or in separate actions, from time to time, as said loss of rent or damages shall accrue, or in a single proceeding deferred by Landlord or with jurisdiction reserved by the court, until expiration of the Term (in which event Tenant hereby agrees that, at Landlord's option, the cause of action shall not be deemed to have accrued until the date of expiration of said Term).
(x) Nothing contained herein shall prevent the enforcement of any claim Landlord may have against Tenant for a breach of this Lease. In the event of any breach by Tenant of any of the covenants or provisions hereof or in the event of Tenant's default, Landlord shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not provided for herein. Mention in this Lease of any particular remedy shall not preclude Landlord from any other remedy under this Lease or at law or in equity. Tenant hereby expressly waives for itself and all persons claiming by or through Tenant, any and all rights to redeem, reinstate or restore, or obtain relief from forfeiture of this Lease granted by or under any present or future law in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the Premises by reason of the violation by Tenant of any of the covenants and conditions of this Lease.
(xi) In case suit shall be brought for recovery of the Premises, for the recovery of rent or any other amount due under the provisions of this Lease, or because of the breach of any other covenant herein contained on the part of Tenant to be kept and performed, and a breach shall be established, Tenant shall pay to Landlord all costs and brokersexpenses incurred therefor, including Landlord's attorneys' commissionsreasonable fees and expenses.
(xii) Nothing herein contained shall limit or prejudice Landlord's right to prove and obtain as damages (excluding consequential damages), by reason of recovering any default by Tenant, an amount equal to the maximum allowed by statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved. No expiration or termination of this Lease, abandonment, re-entry by Landlord or vacancy, shall relieve Tenant of any of its liabilities and obligations under this Lease (whether or not any or all of the leased Premises are relet), and Tenant shall remain liable to Landlord for all damages (excluding consequential damages) resulting from any default by Tenant, including any damage resulting from the breach by Tenant of any of its obligations to pay Minimum Rent, Additional Rent, and any other sums which Tenant is obligated to pay hereunder. Notwithstanding anything to the contrary contained herein, from and after the date that Landlord shall re-enter the Premises (whether following a termination of this Lease or otherwise) and obtain vacant possession of the Premises, removing persons Tenant shall be relieved of all of Tenant's non-monetary obligations under this Lease (including, without limitation, any obligation to maintain, insure or property therefromrepair the Premises, placing or any indemnity obligation hereunder) first arising after the Premises date of such re-entry, but the same shall not be construed to relieve Tenant of the obligations set forth herein with respect to the costs and/or expenses incurred by Landlord in good orderconnection with a re-entry, condition to which Landlord shall be entitled as part of Landlord's damages hereunder, nor shall the foregoing release Tenant of any indemnification obligations in respect of any matter that occurred prior to the date of such re-entry. Furthermore, and repairnotwithstanding anything to the contrary contained in any of the foregoing provisions of this Section 25B, preparing and altering the Premises for reletting and all other costs and expenses in any case where, pursuant to an express provision of relettingthis Lease, a particular remedy of Landlord is stated to be Landlord's sole remedy (or words to that effect), such remedy shall be Landlord's sole remedy with respect thereto.
Appears in 1 contract
Landlord’s Remedies. In the event of an Upon any Event of Default under Section 10.01 then LandlordDefault, Landlord shall have, in addition to any other rights remedies available to Landlord at law or in equity (which shall be cumulative and nonexclusive), the option to pursue any one or more of the following remedies it (which shall be cumulative and nonexclusive) without any notice or demand:
18.2.1 Landlord may have at lawterminate this Lease, in equity or otherwise, which event Tenant shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of immediately surrender the Premises by giving written notice of termination to Tenant. No act by Landlord, and if Tenant fails to do so, Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachmay, in addition without prejudice to any other remedy it may havehave for possession or arrearages in Rent, it is hereby agreed by enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; and Landlord and may recover from Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
following: (ia) The worth, the worth at the time of award, award of the unpaid Rent that has which had been earned at the time of such termination; (b) the termination of this Lease;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iiic) The worth, the worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such Rent loss of Rent that Tenant proves could be reasonably avoided; and
(ivd) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's ’s failure to perform its obligations hereunder or which in the ordinary course of things would be likely to result therefrom, including brokerage commissions, advertising expenses, expenses of remodeling any portion of the Premises for a new tenant (whether for the same or a different use), and any special concessions made to obtain a new tenant; plus (e) at Landlord’s option, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by law. As used in subsection (a) and subsection (b) above, the “worth at the time of award” shall be computed by allowing interest at a rate per annum equal to the lesser of (i) the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release Publication G.13(415), published on the first Tuesday of each calendar month (or such other comparable index as Landlord shall reasonably designate if such rate ceases to be published) plus two (2) percentage points, or (ii) the highest rate permitted by Law. As used in subsection (c) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.
18.2.2 If Landlord does not elect to terminate this Lease on account of any Event of Default by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover all Rent as it becomes due.
18.2.3 Continue this Lease in effect, but terminate Tenant’s right to possession of the Premises and re-enter the Premises and take possession thereof, whereupon Tenant shall have no further claim to the Premises without the same constituting an acceptance of surrender.
18.2.4 Landlord may relet the Premises without thereby avoiding or terminating this Lease (if the same has not been previously terminated), and Tenant shall remain liable for any and all Rent and other charges and expenses hereunder. For the purpose of reletting, Landlord is authorized to make such repairs or alterations to the Premises as may be necessary in the sole discretion of Landlord for the purpose of such reletting, and if a sufficient sum is not realized from such reletting (after payment of all costs and expenses of such repairs, alterations and the expense of such reletting (including, without limitation, reasonable attorney and brokerage fees) and the collection of rent accruing therefrom) each month to equal the Rent, then Tenant shall pay such deficiency each month upon demand therefor. Actions to collect such amounts may be brought from time to time, on one or more occasions, without the necessity of Landlord’s waiting until the expiration of the Term.
18.2.5 Landlord shall at all times have the rights and remedies (which shall be cumulative with each other and cumulative and in addition to those rights and remedies available under Section 18.2.1 and Section 18.2.2, or any law or other provision hereof), without prior demand or notice except as required by law, to seek any declaratory, injunctive or other equitable relief, and specifically enforce this Lease, or restrain or enjoin a violation or breach of any provision hereof, without the necessity of proving the inadequacy of any legal remedy or irreparable harm.
18.2.6 To the extent permitted by Applicable Laws, Landlord shall have the right, without notice to Tenant, to change or re-key all locks to entrances to the Premises, and Landlord shall have no obligation to give Tenant notice thereof or to provide Tenant with a key to the Premises.
18.2.7 Unless Landlord provides Tenant with express notice to the contrary, no re-entry, repossession, repair, maintenance, change, alteration, addition, reletting, appointment of a receiver or other action or omission by Landlord shall (a) be construed as an election by Landlord to terminate this Lease or Tenant’s right to possession, or to accept a surrender of the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Tenant waives, for Tenant and for all those claiming by, through or under Tenant, by order or judgment of any court or by any legal process or writ, this Lease or Tenant’s right of occupancy of the Premises after any termination hereof.
18.2.8 If Landlord elects to cure such Event of Default by Tenant, Landlord may, at Landlord’s option, enter into and upon the Premises and correct the same without being deemed in any manner guilty of trespass, eviction or forcible entry and detainer and without incurring any liability for any damage or interruption of Tenant’s business resulting therefrom. If any lien is filed and not cured within the fifteen (15) day time period set forth above, then Landlord may take such action as may be necessary to remove such lien. Tenant agrees to pay Landlord an amount equal to one hundred ten percent (110%) of any expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease, including without limitation, attorney’s fees, together with interest thereon at the Applicable Interest Rate from the date of expenditure.
18.2.9 Exercise by Landlord of any one (1) 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 except as provided in Section 18.2.1 and Section 18.2.2 above, 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 (1) or more of its rights in connection with any subsequent Event of 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 also 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, are not restricted to their technical legal meanings. Any reletting of the Premises shall be on such terms and conditions as Landlord in its sole discretion may determine (including without limitation a term different than the remaining Term, rental concessions, alterations and repair of the Premises, 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, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or collect rent due in respect of such reletting.
18.2.10 Even if an eviction moratoria exists, to the extent permitted by Applicable Laws, Landlord shall have the right to continue this Lease in effect and bring an action to collect rent due under this Lease (including an action against any guarantors of Tenant's obligations under this Lease) and otherwise exercise Landlord's rights and remedies under this Lease including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) Landlord's right to apply or draw upon any security deposit or letter of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingcredit delivered to Landlord pursuant to this Lease.
Appears in 1 contract
Samples: Multi Tenant Industrial Triple Net Lease (Chardan NexTech Acquisition 2 Corp.)
Landlord’s Remedies. In Landlord shall have the event of an Event of Default under Section 10.01 then Landlord, remedies described in this Paragraph 15 if Tenant is in Default. These remedies are not exclusive; they are cumulative and in addition to any other rights remedies now or remedies it later allowed by law. Upon any such Default, Landlord may have at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's ’s right to possession of the Premises by giving written notice of termination to Tenantat any time. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right Lease. Acts of maintenance, efforts to possession of relet the Premises. Should Landlord at any time terminate this Lease for any breach, in addition or the appointment of a receiver on Landlord’s initiative to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover protect Landlord’s interest under this Lease shall include without limitation:
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 pursuant to California Civil Code Section 1951.2: (ia) The worth, worth at the time of award, award of the any unpaid Rent that has which had been earned at the time of the termination of this Lease;
Tenant’s right to possession; (iib) The worth, worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease Tenant’s right to possession until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iiic) The worth, worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; and
(ivd) Any other amount amount, including court costs, reasonable attorney fees and collection costs, necessary to compensate Landlord for all detriment proximately caused by Tenant's breach’s Default. “The worth”, includingas used for Items (a) and (b) in this Paragraph 15. is to be computed by allowing interest at the lesser of sixteen percent (16%) per annum or the maximum rate Landlord is permitted to charge by law. Landlord shall also have the right to continue this Lease in full force and effect pursuant to California Civil Code Section 1951.4 and recover rent as it comes due, but not limited toif Tenant has the right to sublet the Premises or assign this Lease, subject only to reasonable limitations. Landlord shall also have the costs right, with or without terminating this Lease, to re-enter the Premises and expenses (including attorneys' fees, court costs, advertising costs remove all persons and brokers' commissions) Tenant’s personal property from the Premises; such property may be removed and stored in a public warehouse or elsewhere at the cost of recovering and for the account of Tenant or disposed of in a reasonable manner by Landlord. No re-entry or taking possession of the Premises, removing persons Premises by Landlord pursuant to this Paragraph 15 shall be construed as an election to terminate this Lease unless a written notice of such intention is given to Tenant or property therefrom, placing unless the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses termination thereof is decreed by a court of relettingcompetent jurisdiction.
Appears in 1 contract
Samples: Lease Agreement (California Coastal Communities Inc)
Landlord’s Remedies. In Upon the occurrence of any event of an Event of Default under Section 10.01 then LandlordDefault, 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 precluding the Landlord from exercising any other rights remedy provided in this Lease or remedies it may have at law, otherwise allowed by law or in equity or otherwise, shall have the following rightsequity:
(a) Landlord shall have the right to may terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's ’s right to possession of the Premises. Should If Tenant has abandoned and vacated the Premises, the mere entry onto the Premises by Landlord at any time terminate in order to perform acts of maintenance, cure defaults, preserve the Premises, or attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord’s interest under this Lease, will not be deemed a termination of Tenant’s right to possession or a termination of this Lease for any breach, unless Landlord has notified Tenant in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant writing that the damages Landlord shall be entitled to recover under this Lease shall include without limitationis terminated. If Landlord terminates this Lease and Tenant’s right to possession of the Premises pursuant to this Section 20.2(a), then Landlord may recover from Tenant:
(i) The worth, worth at the time of awardthe award of unpaid Rent, of the unpaid Rent that has including, without limitation, Operating Expenses, which had been earned at the time of the termination of this Lease;termination; plus
(ii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;; plus
(iii) The worth, worth at the time of award, the award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of the award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; andplus
(iv) Any other amount amounts necessary to compensate Landlord for all of the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease which in the ordinary course of things would be likely to result therefrom, including, but not limited towithout limitation, recovery of Base Rent, Additional Rent, and additional or other forms of Rent for any period of free Rent theretofore enjoyed by Tenant (at rates in effect for the period immediately following such period of free Rent); recovery of the pro rata portion of any tenant improvement allowance or other leasehold improvement costs paid by Landlord to install leasehold improvements on the Premises which is applicable to that portion of the Term, including option periods, which is unexpired as of the date on which this Lease terminated; any legal expenses, brokers’ commissions, or finder’s fees in connection with reletting the Premises, and the pro rata portion of any leasing commission paid by Landlord in connection with this Lease which is applicable to the portion of the Term, including option periods, which is unexpired as of the date on which this Lease terminated; the costs of repairs, cleanup, refurbishing, removal, and expenses storage or disposal of Tenant’s personal property, equipment, fixtures, and anything else that Tenant is required under this Lease to remove but does not remove (including attorneys' feesthose alterations which Tenant is required to remove pursuant to an election by Landlord, and which Landlord actually removes, whether or not notice to remove will be delivered to Tenant); and any costs for alterations, additions, and renovations incurred by Landlord in regaining possession of and reletting (or attempting to relet) the Premises. All computations of the “worth at the time of the award” of amounts recoverable by Landlord under Sections 20.2(a)(i) and (ii) hereof will be computed by allowing interest at the greater of 2% in excess of the then-current Prime Rate or 5% per annum, but in no event greater than the maximum interest rate permitted by Laws. The “worth at the time of the award” recoverable by Landlord under Section 20.2(a)(iii) and the discount rate for purposes of determining any amounts recoverable under Section 20.2(a)(iv), if applicable, will be computed by discounting the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank of California San Francisco at the time of the award plus 1%. If Tenant tenders to Landlord in an offer of settlement all sums due under this Section 20.2(a) after Landlord has notified Tenant of exercise of the remedies under this Section 20.2(a), then the “worth at the time of the award” will be determined at the time of the tender of payment of the entire amount of such sums by Tenant.
(b) Upon termination of this Lease, whether by lapse of time or otherwise, Tenant will immediately vacate the Premises and deliver possession to Landlord. If Tenant has vacated the Premises and Landlord or any of its agents has reason to believe that Tenant does not intend to reoccupy the Premises, and current or past Rent has been due or unpaid for at least 14 consecutive days, then Landlord will have the right to send Tenant a notice of belief of abandonment pursuant to Section 1951.3 of the California Civil Code. The Premises will be deemed abandoned, and the Tenant’s right to possession of the Premises will terminate on the date set forth in such notice, unless Landlord receives (at its address for notices pursuant to this Lease) before such date a notice from Tenant stating (i) Tenant’s intent not to abandon the Premises, and (ii) an address at which Tenant may be served in any action for unlawful detainer of the Premises and/or damages or other relief available at law or in equity. If the Premises are deemed abandoned (either through the aforementioned procedure or due to any statement by Tenant to that effect), or if Landlord or any of its agents acts pursuant to a court costsorder, advertising then Landlord or any of its agents will have the right, without terminating this Lease, to re-enter the Premises and remove all persons therefrom and any or all of Tenant’s fixtures, equipment, furniture, and other personal property (herein collectively referred to as “Unclaimed Property”) from the Premises, without being deemed in any manner liable for trespass, eviction, or forcible entry or detainer, or conversion of Unclaimed Property, and without relinquishing any right given to Landlord under this Lease or by operation of law. If Landlord re-enters the Premises in such situation, all Unclaimed Property removed from the Premises by Landlord or any of its agents and not claimed by the owner may be handled, removed, or stored, in a commercial warehouse or otherwise by Landlord at Tenant’s risk and expense, and Landlord will in no event be responsible for the value, preservation, or safekeeping thereof. Before the retaking of any such Unclaimed Property from storage, Tenant will pay to Landlord, upon demand, all expenses incurred in such removal and all storage charges against such Unclaimed Property. Any such Unclaimed Property of Tenant not so retaken from storage by Tenant within 30 days after such Unclaimed Property is removed from the Premises will be deemed abandoned and may be either disposed of by Landlord pursuant to Section 1988 of the California Civil Code or retained by Landlord as its own property.
(c) Notwithstanding Landlord’s right to terminate this Lease pursuant to Section 20.2(a), Landlord may, at its option, even though Tenant has breached this Lease and abandoned the Premises, continue this Lease in full force and effect and not terminate Tenant’s right to possession, and enforce all of Landlord’s rights and remedies under this Lease. In such event, Landlord will have the remedy described in California Civil Code Section 1951.4 (Landlord may continue this Lease in effect after Tenant’s breach and abandonment and recover Rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations). Further, in such event, Landlord will be entitled to recover from Tenant all costs of maintenance and brokers' commissions) of recovering possession preservation of the Premises, removing persons or property therefromand all costs, placing including attorneys’ fees and receivers’ fees, incurred in connection with appointment of and performance by a receiver to protect the Premises and Landlord’s interest under this Lease. No reentry or taking possession of the Premises by Landlord pursuant to this Section 20.2(c) will be construed as an election to terminate this Lease unless a written notice (signed by a duly authorized representative of Landlord) of intention to terminate this Lease is given to Tenant. Landlord may at any time after default by Tenant elect to terminate this Lease pursuant to Section 20.2(a), notwithstanding Landlord’s prior continuance of this Lease in good ordereffect for any period of time, condition and repairupon and after Tenant’s default under this Lease, preparing Landlord may, but need not, relet the Premises or any part thereof for the account of Tenant to any person, firm, partnership, corporation, or other business entity for such Rent, for such time, and altering upon such terms as Landlord, in its sole discretion, will determine. Subject to the provisions of this Lease regarding assignment and subletting in Section 13, Landlord will not be required to accept any substitute tenant offered by Tenant or to observe any instructions given by Tenant regarding such reletting. Landlord may remove (and repair any damage caused by such removal) and store (or dispose of) any of Tenant’s personal property, equipment, fixtures, and anything else Tenant is required (under this Lease at the election of Landlord or otherwise) to remove but does not remove, and Landlord may also make repairs, renovations, alterations, and/or additions to the Premises to the extent deemed by Landlord necessary or desirable in connection with any attempt to relet the Premises. Tenant will upon demand pay the cost of such repairs, alterations, additions, removal, storage and renovations, together with any legal expenses, brokers’ commissions or finder’s fees and any other expenses incurred by Landlord in connection with its entry upon the Premises and attempt to relet the Premises. If Landlord is able to relet the Premises for Tenant’s account during the remaining portion of the Term and the consideration collected by Landlord from any reletting is not sufficient to pay monthly the full amount of Base Rent and Additional Rent payable by Tenant under this Lease, together with any legal expenses, brokers’ commissions or finder’s fees, any cost for repairs, alterations, additions, removal, storage and renovations, and any other cost and expense incurred by Landlord in re-entering the Premises and reletting the Premises, then Tenant will pay to Landlord the amount of each monthly deficiency upon demand. Any rentals received by Landlord from any such reletting will be applied as follows:
(i) First, to the payment of any costs of reentry and reletting the Premises;
(ii) Second, to the payment of costs of any such alterations, repairs, additions, removal, storage, and renovations to the Premises;
(iii) Third, to the payment of any other Rent due and unpaid under this Lease; and
(iv) The residue, if any, will be held by Landlord and applied as payment of future Rent as the same may become due and payable under this Lease.
(d) No act or omission by Landlord or its agents during the Term will be an acceptance of a surrender of the Premises, and no agreement to accept a surrender of the Premises will be valid, unless made in writing and signed by a duly authorized representative of Landlord. Neither any remedy set forth in this Lease nor pursuit of any particular remedy will preclude Landlord from any other remedy set forth in this Lease or otherwise available at law or in equity. Landlord will be entitled to a restraining order or injunction to prevent Tenant from breaching or defaulting under any of its obligations under this Lease other than the payment of Rent or other sums due hereunder.
(e) Neither the termination of this Lease nor the exercise of any remedy under this Lease or otherwise available at law or in equity will affect the right of Landlord to any right of indemnification set forth in this Lease or otherwise available at law or in equity by reason of Tenant’s occupancy of the Premises, and all rights to indemnification or other obligations of Tenant will survive termination of this Lease and termination of Tenant’s right to possession under this Lease.
(f) Landlord may, at Landlord’s option but without obligation to do so, and without releasing Tenant from any obligations under this Lease, make any payment or take any action as Landlord deems necessary or desirable to cure any Default in such manner and to such extent as Landlord deems necessary or desirable. Landlord may do so without additional demand on, or additional written notice to, Tenant and without giving Tenant an additional opportunity to cure such Default. Tenant covenants and agrees to pay Landlord, upon demand, all advances, costs and expenses of relettingLandlord in connection with making any such payment or taking any such action, including reasonable attorneys’ fees, together with interest at the rate described in Section 3.5, from the date of payment of any such advances, costs and expenses by Landlord.
Appears in 1 contract
Samples: Lease Agreement (Singulex Inc)
Landlord’s Remedies. In the event Upon each occurrence of an Event of Default under Section 10.01 then Landlordand so long as such Event of Default shall be continuing, in addition to Landlord may at any other rights or remedies it may have time thereafter at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall 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 formal demand or notice of any kind, to possession re-enter the Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to 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. Should Landlord at any time terminate Except as otherwise provided in the next paragraph, if Tenant breaches this Lease for any breachand abandons the Premises prior to the end of the term hereof, in addition or if Tenant’s right to any other remedy it may have, it possession is hereby agreed terminated by Landlord and because of an Event of Default by Tenant that the damages Landlord shall be entitled to recover under this Lease, this Lease shall include without limitation:
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, the worth at the time of award, award of the unpaid Base Rent and other charges under this Lease that has had been earned at the time of the termination of this Lease;
termination; (ii) The worth, the worth at the time of award, award of the amount by which the reasonable value of the unpaid Base Rent that and other charges under this Lease which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
; (iii) The worth, the worth at the time of award, of the amount award by which the reasonable value of the unpaid Base Rent and other charges under this Lease for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
and (iv) Any 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, includingand 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, but 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 also 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, are not limited to, restricted to their technical legal meanings. Any reletting of the costs Premises shall be on such terms and expenses conditions as Landlord in its sole discretion may determine (including attorneys' feeswithout limitation a term different than the remaining Lease Term, court costsrental concessions, advertising costs alterations and brokers' commissions) of recovering possession repair of the Premises, removing persons lease of less than the entire Premises to any tenant and leasing any or property therefromall other portions of the Project before reletting the Premises). Landlord shall not be liable, placing nor shall Tenant's obligations hereunder be diminished because of, Landlord's failure to relet the Premises or collect rent due in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses respect of such reletting.
Appears in 1 contract
Samples: Lease Agreement (Viewsonic Corp)
Landlord’s Remedies. In the event of an Event of Default under Section 10.01 Tenant's default hereunder, then Landlord, in addition to any other rights or remedies it Landlord may have at under this Lease or under law, Landlord may elect either of the remedies set forth in equity Paragraphs 11.2(a) or otherwise11.2(b). Notwithstanding any other provision of this Lease, shall have the following rights:Lessor has the remedy described in California Civil Code Section 1951.4 (Lessor (Landlord) may continue lease in effect after Lessee's (Tenant's) breach and abandonment and recover rent as it becomes due, if Lessee (Tenant) has the right to sublet or assign, subject only to reasonable limitations):
(a) Landlord shall have the right to To immediately terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
from Tenant an award of damages equal to the sum of (i) The worth, the worth at the time of award, award of the unpaid Rent that has rental which had been earned at the time of the termination of this Lease;
termination, (ii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent that rental which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant affirmatively proves could have been reasonably avoided;
, (iii) The worth, the worth at the time of award, award of the amount by which the unpaid Rent rental for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant affirmatively proves could be reasonably avoided; and
, (iv) Any any other amount necessary to compensate Landlord for all the detriment either proximately caused by Tenant's breachfailure to perform Tenant's obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but and (v) all such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time under applicable law; or
(b) To have this Lease continue to effect for so long as Landlord does not limited to, the costs terminate this Lease and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering Tenant's right to possession of the Premises, removing persons or property therefromin which event Landlord shall have the right to enforce all of the rights and remedies provided by this Lease and by law, placing including the Premises in good order, condition right to recover the rental and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting.charges
Appears in 1 contract
Samples: Lease Agreement (Quadramed Corp)
Landlord’s Remedies. (a) In the event of an Event any default by Tenant, or in the event of Default under Section 10.01 the abandonment of the Premises by Tenant, then Landlord, in addition to any other rights or remedies it available to Landlord, Landlord may have at law, in equity or otherwise, shall have exercise the following rightsremedies:
(ai) Landlord shall have the right to may terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to any lawful means, in which case this Lease shall terminate and Tenant shall terminate this Lease or Tenant's right to immediately surrender possession of the PremisesPremises to Landlord. Should Landlord at Such termination shall not affect any time terminate accrued obligations of Tenant under this Lease for any breachLease. Upon termination, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall have the right to reenter the Premises and remove all persons and property. Landlord shall also be entitled to recover under this Lease shall include without limitationfrom Tenant:
(i1) The worth, worth at the time of award, award of the unpaid Rent that has rent and additional rent which had been earned at the time of the termination of this Leasetermination;
(ii2) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent and additional rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such loss of Rent that Tenant proves could have been reasonably avoided;
(iii3) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent and additional rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Tern after the time of award exceeds the amount of the such loss of Rent that Tenant proves could be reasonably avoided; and;
(iv4) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result from Tenant's default, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) cost of recovering possession of the Premises, removing persons or property therefromrefurbishment of the Premises, placing the Premises in good ordermarketing costs, condition commissions and other expenses of reletting, including necessary repair, preparing the unamortized portion of any tenant improvements and altering brokerage commissions funded by Landlord in connection with this Lease, reasonable attorneys' fees, and any other reasonable costs; and
(5) At Landlord's election, all other amounts in addition to or in lieu of the Premises for reletting foregoing as may be permitted by law. The term "rent" as used in this Lease shall be deemed to mean the Basic Rent and all other costs sums required to be paid by Tenant to Landlord pursuant to the terms of this Lease. Any sum, other than Basic Rent, shall be computed on the basis of the average monthly amount accruing daring the twenty-four (24) month period immediately prior to default, except that if it becomes necessary to compute such rental before the twenty-four (24) month period has occurred, then the computation shall be on the basis of the average monthly amount during the shorter period. As used in subparagraphs (1) and expenses (2) above, the "worth at the time of relettingaward" shall be computed by allowing interest at the rate often percent (10%) per annum. As used in subparagraph (3) above, the "worth at the time of award" shall be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Samples: Industrial Lease (Sensar Corp /Nv/)
Landlord’s Remedies. (a) In the event of an Event of Default under Section 10.01 then Landlordby Tenant, as defined herein, then, in addition to any other rights remedies available to Landlord at law or remedies it may have at lawin equity, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right immediate option, but shall not be obligated to do so, to terminate this Lease and Tenant's right to possession all rights of the Premises Tenant hereunder by giving Tenant written notice of termination such election to Tenantterminate. No act by In any and all instances of Tenant default, Landlord other than giving express shall provide written notice to Tenant of Tenant’s default and shall provide a grace period appropriate to the particular default, and shall provide a proper cure period, and in the moment that the Tenant materially begins the process of curing the default, Tenant shall immediately be taken out of default. This is for any and all instances of Tenant default. In the event that Landlord shall elect to so terminate this Lease or Lease, then Landlord may recover from Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, worth at the time of award, award of the any unpaid Rent that has which had been earned at the time of the termination of this Lease;such termination; plus
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that which would have been earned after the date of termination of this Lease until the time of award exceeds the amount that portion of the rental loss of Rent that which Tenant proves could have been reasonably avoided;; plus
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that which Tenant proves reasonably could be reasonably avoided; andplus
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach, failure to perform its obligation under this Lease or which in the ordinary course of things would be likely to result therefrom including, but not limited to, brokerage commissions and the costs cost of restoring said Premises to the condition required under this Lease; plus
(v) At Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable Law.
(vi) As used in (i) and (ii) above, the "worth at the time of award" shall be computed by allowing interest at the Interest Rate. As used in (iii) above, "worth at the time of award" shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank at San Francisco at the time of award, plus one (1) percentage point.
(b) In the event of any such Event of Default by Tenant, Landlord shall also have the right, with or without terminating this Lease, to reenter the Premises to 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.
(c) In the event of the abandonment of the Premises by Tenant or in the event of any Event of Default by Tenant, if Landlord does not elect to terminate this Lease as provided in this Section, then Landlord may exercise the remedy and shall be entitled to all the rights provided for in California Civil Code Section 1951.4 or any successor statute thereto or similar statute hereinafter enacted.
(d) Landlord shall not, by any reentry or other act, be deemed to have accepted any surrender by Tenant of the Premises or Tenant's interest therein, or be deemed to have terminated this Lease or Tenant's right to possession of the Premises or the liability of Tenant to pay Rent thereafter to accrue or Tenant's liability for damages under any of the provisions hereof, unless Landlord shall have notified Tenant in writing that it has so elected to terminate this Lease.
(e) Landlord may suspend or discontinue all or any of the services specified in Article 7 during the continuance of any material and undisputed Event of Default; and no such suspension or discontinuance will be deemed or construed to be an eviction, constructive or actual, or an ejection of Tenant.
(f) If Landlord reenters the Premises following an Event of Default, Tenant shall have no claims for damages that may be caused by Landlord's reentering or removing and storing the property of Tenant, and without limiting Section 12.2 above, Tenant agrees to indemnify, defend, protect and hold Landlord harmless from all losses, costs, expenses (including attorneys' fees, attorney's fees and court costs) or damages occasioned by Landlord. No such entry shall be considered or deemed to be a forcible entry by Landlord.
(g) All rights, advertising costs options, and brokers' commissionsremedies of Landlord contained in this Lease shall be construed and held to be cumulative, and no one of them shall be exclusive of the other, and Landlord shall have the right to pursue any one or all of such remedies or any other remedy or relief which may be provided by law, whether or not stated in this Lease.
(h) Tenant hereby expressly waives any and all rights of recovering redemption granted by or under any present or future law in the event Tenant is evicted or dispossessed from the Premises for any cause, or in the event Landlord obtains possession of the Premises, removing persons Premises by reason of the commission by Tenant of an Event of Default or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of relettingotherwise.
Appears in 1 contract
Samples: Office Lease (Looksmart LTD)
Landlord’s Remedies. In the event of an Event of Default under Section 10.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rights:
(a) If Landlord shall have the right elects to terminate this Lease and Tenant's right Lease, pursuant to possession Section 1951.2 of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachCalifornia Civil Code, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfrom Tenant the aggregate of:
(ia) The worth, worth at the time of award, award of the unpaid Rent that has been rent earned as of the date of the termination hereof;
(b) The worth at the time of the termination of this Lease;
(ii) The worth, at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease hereof until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
(iiic) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be reasonably avoided; and;
(ivd) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease or which, includingin the ordinary course of things, but not limited towould be likely to result therefrom; and
(i) Any other amount which Landlord may hereafter be permitted to recover from Tenant to compensate Landlord for the detriment caused by Tenant’s default. For the purposes of this Section 15.2, "rent" shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others, the costs and expenses (including attorneys' fees, “time of award” shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of such Event of Default is entered or such earlier date as the court costs, advertising costs and brokers' commissions) may determine; the “worth at the time of recovering possession award” of the Premisesamounts referred to in Sections 15.2(a) and 15.2(b)(shall be computed by allowing interest on such amounts at the Interest Rate; and the “worth at the time of award” of the amount referred to in Section 15.2(c) shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%) per annum. Tenant agrees that such charges shall be recoverable by Landlord under California Code of Civil Procedure Section 1174(b) or any similar, removing persons successor or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses related provision of relettinglaw.
Appears in 1 contract
Samples: Lease Agreement (ChromaDex Corp.)
Landlord’s Remedies. In Upon the event occurrence of an Event of Default under Section 10.01 then Default, Landlord, in addition to any other rights or remedies it may have at law, law or in equity or otherwiseequity, shall have the following rights:
(a) to serve a written notice upon Tenant that Landlord shall have the right elects to terminate this Lease upon a specified date not less than thirty (30) days from the date after the serving of such notice and, unless such Event of Default shall be remedied prior to the termination date set forth in such notice, this Lease shall terminate on the date specified in such notice and Tenant's right to Tenant shall surrender possession of the Premises by giving written notice of termination to TenantLandlord. No act by In the event that Landlord other than giving express written notice to Tenant shall terminate terminates this Lease or Tenant's right pursuant to possession of the Premises. Should Landlord at any time terminate this Lease for any breachSection 14.2(a), in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfrom Tenant damages incurred by Landlord by reason of Tenant's default, including, but not limited to:
(i) The the worth, at the time of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) The 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 this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been be reasonably avoided;
(iii) The the worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachdefault, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) cost of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other reasonable costs and expenses of reletting; or
(b) to maintain Tenant's right to possession in which case this Lease shall continue in effect whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Land lord's rights and remedies under this Lease, including the right to recover the Rent as it becomes due hereunder. "The worth, at the time of award," as used in Sections 14.2(a)(i) and (ii) hereof, is to be computed by allowing interest at the rate of ten percent (10%) per annum. "The worth, at the time of award," as used in Section 14.2(a)(iii) hereof, is to be computed by discount ing the applicable amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%). Nothing contained in this Section 14.2 shall limit Landlord's right to exercise any remedy available to Landlord at law or in equity in an Event of Default by Tenant under this Lease.
Appears in 1 contract
Landlord’s Remedies. In the event of an Event of Default under Section 10.01 13.01 then Landlord, in addition to any other rights or remedies it may have at law, in equity or otherwise, shall have the following rights:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, at the time of award, of the unpaid Rent that has been earned at the time of the termination of this Lease;
(ii) 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 this Lease until the time of award exceeds the amount of the loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, at the time of award, of the amount by which the unpaid Rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the loss of Rent that Tenant proves could be reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant's breach, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) of recovering possession of the Premises, removing persons or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses of reletting.
Appears in 1 contract
Landlord’s Remedies. In (a) Upon the event occurrence of an Event of Default under Section 10.01 then Default, Landlord, in addition to at its option, and without limiting the exercise of any other rights right or remedies it remedy Landlord may have at on account of such Event of Default, and without any further demand or notice, may terminate this Lease, in which event this Lease and the Term shall immediately come to an end and expire (whether or not the Term shall have commenced) with the same force and effect as if the date of Landlord’s termination was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 15, and/or, to the extent permitted by law, in equity Landlord may remove all persons and property from the Premises, which property shall be stored by Landlord at a warehouse or otherwiseelsewhere at the risk, shall have expense and for the following rights:account of Tenant.
(ab) If Landlord shall have the right elects to terminate this Lease and Tenant's right Lease, pursuant to possession Section 1951.2 of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breachCalifornia Civil Code, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitationfrom Tenant the aggregate of:
(i) The worth, worth at the time of award, award of the unpaid Rent that has been rent earned at as of the time date of the termination of this Leasehereof;
(ii) The worth, worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease hereof until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
(iii) The worth, worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) Term after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and;
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breach’s failure to perform its obligations under this Lease or which, includingin the ordinary course of things, but not limited towould be likely to result therefrom; and
(v) Any other amount which Landlord may hereafter be permitted to recover from Tenant to compensate Landlord for the detriment caused by Tenant’s default. For the purposes of this Section 15.2(b), “rent” shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others, the costs and expenses (including attorneys' fees, “time of award” shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of such Event of Default is entered or such earlier date as the court costs, advertising costs and brokers' commissions) may determine; the “worth at the time of recovering possession award” of the Premisesamounts referred to in Sections 15.2(b)(i) and 15.2(b)(ii) shall be computed by allowing interest on such amounts at the Interest Rate; and the “worth at the time of award” of the amount referred to in Section 15.2(b)(iii) shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%) per annum. Tenant agrees that such charges shall be recoverable by Landlord under California Code of Civil Procedure Section 1174(b) or any similar, removing persons successor or property therefrom, placing the Premises in good order, condition and repair, preparing and altering the Premises for reletting and all other costs and expenses related provision of relettinglaw.
Appears in 1 contract
Samples: Lease Agreement (Cereplast Inc)
Landlord’s Remedies. (a) In the event of an Event of Default under Section 10.01 then Landlordany default by Tenant, then, in addition to any other rights remedies available to Landlord at law or remedies it in equity, Landlord may have at law, in equity or otherwise, shall have exercise the following rightsremedies:
(ai) Landlord shall have the right to may terminate this Lease and Tenant's right to possession all rights of the Premises Tenant hereunder by giving written notice of such termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of In the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant event that the damages Landlord shall be entitled so elect to terminate the Lease, then Landlord may recover under this Lease shall include without limitation:
(i) from Tenant: The worth, worth at the time of award, award of the unpaid Rent that has rent, charges, and additional rent which had been earned as of the date of the termination hereof; The worth at the time of the termination of this Lease;
(ii) The worth, at the time of award, award of the amount by which the unpaid Rent that rent and additional rent which would have been earned after the date of the termination of this Lease hereof until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could have been reasonably avoided;
(iii) ; The worth, worth at the time of award, award of the amount by which the unpaid Rent rent, charges, and additional rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves could be have been reasonably avoided; and
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's breachfailure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, the costs and expenses (including attorneys' fees, court costs, advertising costs and brokers' commissions) cost of recovering possession of the Premises, removing persons expenses of reletting, including brokerage commissions, necessary repair, renovation and alteration of the Premises, reasonable attorneys' fees, expert witness costs, and any other reasonable costs; and Any other amount which Landlord may by law hereafter be permitted to recover from Tenant to compensate Landlord for the detriment caused by Tenant's default. As used in subparagraphs (i) and (ii) above, the "worth at the time of award" shall be computed by allowing interest at the maximum rate permitted by law. As used in subparagraph (iii) above, the "worth at the time of award" shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%), but not in excess of ten percent (10%) per annum.
(ii) Pursue the remedy described in California Civil Code Section 1951.4 and continue this Lease in effect without terminating Tenant's right to possession even though Tenant has breached this Lease and abandoned the Premises and to enforce all of Landlord's rights and remedies under this Lease, at law or in equity, including the right to recover the rent as it becomes due under this Lease; provided, however, that Landlord may at any time thereafter elect to terminate this Lease for such previous breach by notifying Tenant in writing that Tenant's right to possession of the Premises has been terminated.
(iii) Nothing in this Article XIII shall be deemed to affect Tenant's indemnity of Landlord, for liability or liabilities based upon occurrences prior to the termination of this Lease for personal injuries or property damage under the indemnification clause or clauses contained in this Lease. Such covenants of indemnification shall survive the termination of this Lease.
(iv) In the event of default by reason of any of the events stated in subparagraph (f) of Section 13.1 above, this Lease or any interest in and to the Premises shall not become an asset in any of such proceedings and, in any such event and in addition to any and all rights or remedies of the Landlord hereunder or by law provided, it shall be lawful for the Landlord to declare the term hereof ended and to re-enter the Premises and take possession thereof and remove all persons therefrom, placing and Tenant and its creditors (other than Landlord) shall have no further claim thereon or hereunder.
(b) Landlord shall be under no obligation to observe or perform any covenant of this Lease on its part to be observed or performed which accrues after the Premises in good orderdate of any default by Tenant hereunder. In any action for unlawful detainer commenced by Landlord against Tenant by reason of any default hereunder, condition and repair, preparing and altering the reasonable rental value of the Premises for reletting the period of the unlawful detainer shall be deemed to be the amount of the basic annual rent and additional rent reserved in this Lease for such period, unless Landlord or Tenant shall prove to the contrary by competent evidence. The various rights, powers and remedies reserved to Landlord herein, and those rights, powers and remedies of Landlord under any other agreement now or hereafter in force between Landlord and Tenant, including those not specifically described herein, shall be cumulative, and, except as otherwise provided by California statutory law in effect at the time, Landlord may pursue any or all of such rights and remedies, at the same time, or otherwise.
(c) No delay or omission of Landlord to exercise any right or remedy shall be construed as a waiver of any such right or remedy or of any default by Tenant hereunder. The acceptance by Landlord of rent or any additional rent hereunder shall not be (i) a waiver of any preceding breach or default by Tenant of any provision thereof, other costs than the failure of Tenant to pay the particular rent or any additional rent accepted, regardless of Landlord's knowledge of such preceding breach or default at the time of acceptance of such rent or additional rent, or (ii) a waiver of Landlord's right to exercise any remedy available to Landlord by virtue of such breach or default. No payment by Tenant or receipt by Landlord of a lesser amount than the rent herein stipulated shall be deemed to be other than on account of the earliest due stipulated rent, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent be deemed an accord and expenses satisfaction, and Landlord shall accept such check or payment without prejudice to Landlord's right to recover the balance of relettingsuch rent or pursue any other remedy in this Lease provided. Tenant hereby waives any right of redemption or relief from forfeiture under California Code of Civil Procedure Sections 1174 or 1179, or under any other present or future law, in the event Tenant is evicted or Landlord takes possession of the Premises by reason of any default by Tenant hereunder. No act or thing done by Landlord or Landlord's agents during the term of this Lease shall be deemed an acceptance of a surrender of the Premises, and no agreement to accept a surrender shall be valid unless in writing and signed by Landlord. No employee of Landlord or of Landlord's agents shall have any power to accept the keys to the Premises prior to the termination of this Lease, and the delivery of the keys to any such employee shall not operate a termination of this Lease or a surrender of the Premises.
Appears in 1 contract
Samples: Office Space Lease (DVD Express Inc)
Landlord’s Remedies. In the event of an Event any material default or breach by TENANT, LANDLORD may at any time thereafter, without limiting LANDLORD in the exercise of Default under Section 10.01 then Landlordany fight of remedy at law or in equity which LANDLORD may have by reason of such default or breach, terminate TENANT's right to possession by any lawful means, in addition which case this lease shall immediately terminate and TENANT shall immediately surrender possession of PREMISES to any other rights or remedies it may have at lawLANDLORD. In such event LANDLORD shall be entitled to recover from TENANT all damages incurred by LANDLORD by reason of TENANT's default including, in equity or otherwisebut not limited to, shall have the following rightsfollowing:
(a) Landlord shall have the right to terminate this Lease and Tenant's right to possession of the Premises by giving written notice of termination to Tenant. No act by Landlord other than giving express written notice to Tenant shall terminate this Lease or Tenant's right to possession of the Premises. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it is hereby agreed by Landlord and Tenant that the damages Landlord shall be entitled to recover under this Lease shall include without limitation:
(i) The worth, worth at the time of award, award of the any unpaid Rent that has rent which had been earned at the time of the termination of this Lease;such termination; plus
(iib) The worth, the worth at the time of award, award of the amount by which the unpaid Rent that rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the such rental loss of Rent that Tenant proves is proved could have been reasonably avoided;; plus
(iiic) The worth, the worth at the time of award, award of the amount by which the unpaid Rent rent for the balance of the stated term hereof (determined without regard to the termination of this Lease for Tenant's breach) after the time of award exceeds the amount of the such rental loss of Rent that Tenant proves is proved could be reasonably avoided; andplus
(ivd) Any any other amount necessary to compensate Landlord LANDLORD for all the detriment proximately caused by TenantTENANT's breachfailure to perform its obligations under this lease or which in the ordinary course of events would be likely to result therefrom; plus
(e) at LANDLORD's election, includingsuch other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state law. Upon any such re- entry LANDLORD shall have the right to make any reasonable repairs, but not limited toalterations or modifications to PREMISES, which LANDLORD in its sole discretion deems reasonable and necessary. As used in subparagraphs (a) and (b) above, the costs and expenses "worth at the time of award" is computed by including interest on the principal sum at a rate one percent (including attorneys' fees, court costs, advertising costs and brokers' commissions1%) of recovering possession above the discount rate of the PremisesFederal Reserve Bank of San Francisco from the date of default. As used in subparagraph (c) above, removing persons or property therefrom, placing the Premises "worth at the time of award" is computed by discounting such amount at a rate one percent (1%) above the discount rate of the Federal Reserve Bank of San Francisco at the time of award. The term "rent" as used in good order, condition this Article shall be deemed to be and repair, preparing and altering the Premises for reletting to mean rent to be paid pursuant to Article 4 and all other costs and expenses monetary sums required to be paid by TENANT pursuant to the terms of relettingthis lease.
Appears in 1 contract
Samples: Airspace Lease Agreement